In this article, we're going to review in a totally unbiased manner what Pi Network REALLY stands for, the timeline of Pi Network, the people behind the project, and if this project is really worth getting into.

Pi Network claims to be the First Digital Currency that can be mined from a regular phone, energy free. That's the very main purpose of the project. Ultimately, they aim to become the "go-to" platform where people can transact using the Pi coin on the Pi Network.

They claim to have a team of Stanford Ph.D. graduates with extensive valuable knowledge behind the project. They also boast about their app which can be downloaded on both GooglePlay and AppStore, with 10+million users to date.

After downloading the app, you'd have to link your number and Facebook account to your wallet. Every 24 hours, you can enter the app and claim your earned Pi coins effortlessly. You can also boost your earnings by going through the KYC process.

While researching and digging deeper into Pi Network, we couldn't but raise many red flags that usually are not good indicators of any project that is launching. In the following section, we're going to cite every concern and explain why they might be potential flimflam indicators:

It all starts when the user downloads the app (wallet), and the need to verify a phone number and link a Facebook account. You will never face such a process when using any other wallet (not to confuse with opening accounts with exchanges). They also have a KYC step that collects Passport information, which contradicts the development of things on their platform: why make people pass through KYC and submit critical information since there is NO exchange of Pi to USD or to anything else yet? There is NO regulatory body in the world that forces companies to have KYC measures when no money transfer is involved yet.

No other cryptocurrency to date obliges users to do so, in fact, it goes against the very main reason behind cryptocurrencies, which is privacy. Their App also has many permissions on your phone (below screenshots).

There is currently no visibility of any blockchain technology. In normal scenarios, companies would publish their code as open-source for validity, a process that has yet to happen. Their "Whitepaper" is just a business plan still at Draft 1, dated back since the company started in March 2019. HUGE red flag!

Everything is still a theory with no real code in place. The Sandbox on their website is very basic and not mature for a company that started almost 3 years today. There is no proof of work being performed, users just login and click a button, and earn more by referring others. It seems like Pi Network is just using crypto lingo like Mining, Wallet, blockchain...in order to fit into the cryptocurrency sphere.
Another infrastructure concern relies on how PIs are created. Let's move on to the next red flag, the no-energy-drain dilemma.

In chemistry, there is a famous saying that goes like this: "Nothing is lost, nothing is created, everything is transformed".
If you want to mine cryptocurrencies, which is basically creating new coins, something needs to push this creation, unless the creation is meaningless and useless. In this case, we notice that the only thing pushing the creation (since no energy is being drained) is the introduction of new people, the fact that makes mining meaningless, and just a push of a button every 24 hours, in a bid to mimic the real mining mechanism for cryptocurrencies.

Why keep users coming back every day? Well, an active user who recruits others and logs into the app daily is much more valuable than a passive offline user, who only downloaded the app ages ago and forgot about it. The latter can't be monetized as much as fresh info on active users. It also helps create a sense of hype, which is also, a red flag.

Most users who are sharing their referral links seem to be cryptocurrency newbies, who don't understand how real mining works or what cryptocurrencies are really about. They just heard from the media that Bitcoin made money for early adopters, and hope to become millionaires from Pi. Also, here's a list of the countries where Pi Network is famous:

• Bhutan
• Nepal
• Vietnam
• Nigeria
• Romania
• Iran
• Lebanon
• Egypt
• Iraq
• Pakistan
• Malaysia

We are always at ease when we know that "professionals" are handling a certain project. But what's been happening with Pi Network is that people are jumping on board solely because of the founders' credentials. Is that enough? Well, it sounds too familiar.
OneCoin, a previous cryptocurrency project was hyped as well by pushing the main person behind it who was also a PhD person in Business and Economics, "Dr. Ruja Ignatova". The company was later shut down for running a Ponzi Scheme.
Successful companies tend to speak about their business success rather than shove their founders' academic credentials in every pitch.

On both app stores, the app boasts many 5-star reviews, which only talks about how the app "doesn't drain battery". Well, we already discussed how this is bad news as it shows that the app isn't doing anything. If you go and read positive articles, you will definitely end up with a referral link.
All positive reviews are ending in a similar way: "Well you can't lose anything, why not try it...use my referral code."

The company launched in 2019, and to date, there aren't any concrete developments in the making other than the below:

• A simple website
• A simple app
• Users referring each other

Heck, even their own users admit that the timeline plan is reaching a certain number of users:

In this case, the only real value of the company is its significant user base, which is being definitely monetized by the creators. It is not uncommon for MLM schemes to grow fast in numbers, which is not a bad thing, but it gets riskier knowing that an already shady project is using MLM for fast growth.

If you're not paying for the product, then you ARE the product. In this day of age, Data is very important and can be sold for hefty returns. Remember the old Facebook-Cambridge Analytica scandal where certain apps were designed on the Facebook platform to gain user information? Well, this presents a similar case where owners can monetize their user base significantly, having access to much-segregated information.

It has been discussed also that at the very start, users were exposed to video ads to help monetize their active user base:

Founders are already benefitting from the app. They launched optional video ads at launch to monetize the active user base. The app also has a KYC process of collecting passport information. Binding this to mobile IDs can be valuable information for the founders

Pi Network is far from becoming the next Bitcoin. When Bitcoin was first launched, its code was publicly available showcasing how exactly the blockchain is doing the work. Mining was a logical process, and it never required people to recruit each other. Pi Network's only positive is that it boasts a large active user base, which is definitely benefiting the creators. When further updates happen, we'll definitely publish another article and talk about market developments.

Stay Ahead, Stay Updated
Rudy Fares

Tapping into the crypto world can be done through many ventures. In today's crypto economy, you don't need to only buy Bitcoin to dip your toes in cryptocurrency investing. Your options would range from buying crypto and metaverse stocks, to participating in mining. The latter option is started to rise in popularity thanks to the current crypto bear market. The famous software security company Norton released a new service as part of its Norton 360 bundle called "Norton Crypto". Many skeptics started to debate whether this service is a good deal or a complete rip-off. Is Norton Crypto worth it? Let's break down the details and assess.

Norton is a US-based company that specializes in selling digital security services. Since 1991, they sold anti-virus and anti-malware software, along with e-mail spam filtering and phishing protection. With the rise of the digital world, Norton started to rapidly expand across borders and today is one of the well-known figures in the cyberspace realm.

With the evolution of the digital world, Norton started to expand its product offerings. Those services range from individual PC privacy, all the way to enterprise protection.

Norton Crypto is a new service part of the Norton 360 plan and is basically a cryptocurrency mining software. It helps newbies use their available PC resources and turn their computers into a mining rig. The cool thing about this is that the mining activity happens automatically every time the GPU of the PC is in idle mode. This way, you don't have to worry about constantly turning your software on or off.

The process is very similar (or the same) as mining pools. When Norton Crypto turns on, it will add the user's graphic card power to an Ethereum mining pool and starts to work. When a payout occurs, the user will split equally the reward among those in the pool, depending on how much hash rate they contributed. This is a great tool for newcomers, as it simplifies the mining process, and gives the "little guys" an edge over large mining companies.

Unlike other mining pools, Norton Crypto is not free to use. Any Norton 360 package must be owned in order to qualify for Norton Crypto. Additionally, the user must meet the system and software requirements in order to be eligible to participate in those mining pools.

Hardware requirements:

• Graphics card - Nvidia cards with minimum 6 GB memory
• Processor - 1 GHz
• RAM - 2 GB (minimum of 512 MB RAM required for Recovery Tool)
• Hard disk space - 300 MB of available hard disk space

Software requirements:

• Norton Crypto supports Windows 7 SP1 and later, Windows 8, Windows 10 and Windows 11.
• Norton Crypto does not support Windows 10 in S mode and Windows running on ARM processors

Currently, the company only supports Ether mining. But they mentioned that they will consider adding other altcoins in the future.

Ethereum is one of the very promising crypto projects. It currently has a proof-of-work consensus, but the community is aiming to switch to a proof-of-stake consensus.

This switch is vital and much needed, as cryptocurrencies suffered from harsh attacks that bash their inefficiencies and eco-friendliness due to excessive mining. The PoS consensus was planned and postponed several times, but there is high hope that the final switch will happen sometime this year in 2022.

Once you start making a few dollars, you'll start thinking about how to cash out. Well, Norton supports Ether transfers to your Coinbase account. So if you were thinking about signing up, consider opening a Coinbase wallet. Bear in mind that you'll handle all costs that come with transferring your money, from gas fees or transaction fees.

Well, it depends. If you are looking for an easy way to start mining, and you have a super-computer that you don't use much, and you happen to live in a country where electricity is cheap, and you don't want to get into the hassle of setting up your open-source mining software, then Norton Crypto might be a good option for you.

On the other hand, you need to consider that Norton Crypto requires you to acquire a Norton 360 membership. The cheapest package costs around USD 100 per year. On top of that, the company will take 15% of the profits made from all the mining. That's too much, considering that the user is the one paying for electricity, bearing gas fees and transaction fees. Additionally, the life expectancy of the PC will wear out over time. With all this information in hand, you'll start thinking whether all this process is worthwhile because actually, it might not be.

Mining from a simple Laptop or PC will barely make a few cents every day. taking into consideration all of the above, simply buying Ether might be a better investment.