01-20-2021, 05:21 AM
Pi & Bee Network Scam | Part 1
<!-- SC_OFF --><div class="md"><p><em>Due to the increased surge of people sharing this stuff again on social media, I felt (and presumably many others here) need to address this type of content.</em></p> <p>I know the Pi and Bee gang will be downvoting this to oblivion but this needs to be said. </p> <p>Anyway, I have had 10 affiliate links sent to me on social media to sign up to both Pi and Bee. I just wanted to urge everyone DO NOT download these apps without reading this.</p> <p>Pi has been round for years now, constantly promising some made up bullshit. Bee, I haven’t read to much into BEE but it’s probably the exact same and the app developer <em>Bee Games</em> pretty much sums it up.</p> <p>I know what you’re thinking, what makes you have right to make these types of comments? </p> <p>First of all, in respect to this I would like to say, pi has been in ‘development’ since 2018. No open source content and the app just provides a non-monetary value on screen which simulates “mining” this isn’t mining. If anything this is just a “tracking” method used to deploy tokens/coins (if somehow ended up on mainnet).</p> <p>The actual content on these non-existent coins are limited to what the website/app tells you. Little to no research has been done into this because it’s so enclosed. </p> <p>People try and sell you this dream with these types of pointless things to gain more imaginary tokens. Using MLM/Ponzi tactics to gain more users is shady af. </p> <p>The team may have PhD’s and may be legit but these people are not doing this for free. There are so many factors you would encounter researching the ‘team’. </p> <p>Closed source, little information, bullshit marketing, MLM/Ponzi tactics is extremely shady. You’re probably going to ask, well what do I have to lose even if it’s not real.</p> <p>I mean let’s just start with your personal data, constantly capturing data whilst using your phone? YOUR PERSONAL DATA IS WORTH MORE TO YOU THEN ANY CRYPTO. </p> <p>I know most of you know this and can see through this shady shit but this is more for the newer/less experienced people out there. </p> <p>Secondly to this, intermittent ads deploying to the app every now and then will also benefit the creators of the app considering millions of people use this pointless thing.</p> <p>Thirdly, the economics and tokenomics as an example would be as follows. </p> <p>Let’s say the average person “mines” 5000 Pi/Bee 100 million when/if goes to main net and get listed on an exchange That would mean the total supply of this token/coin would be 500 BILLION. </p> <p>Price comparison/Prediction: Let’s say it has the rough price of BTT (nearly 1trillion supply) <em>divided by 2</em> so current price of $0.0001897 give or take, so that would mean your 5k Pi/Bee would be worth less than a dollar! 1 USD for all your personal data. Bargain!</p> <p>If you’re in crypto and you’re using these apps then I would change emails and phone numbers. </p> <p>On the AppStores it literally says that the company will be using your personal data and will introduce KYC gradually. Currently 8th on social media list (Apple App Store) </p> <p>“Socialchain” is the owner of pi app and website, there is very little information connecting these two but Pi gets shadier every time I try to research about it.</p> <p>I will be hosting a part two with further investigations, sources and technicalities, but for now just wanted to make people vigilant about this crap.</p> <p>Conclusion TDLR: Your personal data is worth more than $1 or in the current situation <em>free</em> Pi and Bee are pointless and currently non-existent. Please stop promoting this shit and making people download it with a dream of being the next Bitcoin as it’s not going to be.</p> <p>Edit: Part 2 (Pi Network Scam) has been posted, some pretty interesting stuff has come to light, such as a court case between 2 of the 3 members of Pi’s team.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Weflux"> /u/Weflux </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/l0p6sh/pi_bee_network_scam_part_1/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/l0p6sh/pi_bee_network_scam_part_1/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p><em>Due to the increased surge of people sharing this stuff again on social media, I felt (and presumably many others here) need to address this type of content.</em></p> <p>I know the Pi and Bee gang will be downvoting this to oblivion but this needs to be said. </p> <p>Anyway, I have had 10 affiliate links sent to me on social media to sign up to both Pi and Bee. I just wanted to urge everyone DO NOT download these apps without reading this.</p> <p>Pi has been round for years now, constantly promising some made up bullshit. Bee, I haven’t read to much into BEE but it’s probably the exact same and the app developer <em>Bee Games</em> pretty much sums it up.</p> <p>I know what you’re thinking, what makes you have right to make these types of comments? </p> <p>First of all, in respect to this I would like to say, pi has been in ‘development’ since 2018. No open source content and the app just provides a non-monetary value on screen which simulates “mining” this isn’t mining. If anything this is just a “tracking” method used to deploy tokens/coins (if somehow ended up on mainnet).</p> <p>The actual content on these non-existent coins are limited to what the website/app tells you. Little to no research has been done into this because it’s so enclosed. </p> <p>People try and sell you this dream with these types of pointless things to gain more imaginary tokens. Using MLM/Ponzi tactics to gain more users is shady af. </p> <p>The team may have PhD’s and may be legit but these people are not doing this for free. There are so many factors you would encounter researching the ‘team’. </p> <p>Closed source, little information, bullshit marketing, MLM/Ponzi tactics is extremely shady. You’re probably going to ask, well what do I have to lose even if it’s not real.</p> <p>I mean let’s just start with your personal data, constantly capturing data whilst using your phone? YOUR PERSONAL DATA IS WORTH MORE TO YOU THEN ANY CRYPTO. </p> <p>I know most of you know this and can see through this shady shit but this is more for the newer/less experienced people out there. </p> <p>Secondly to this, intermittent ads deploying to the app every now and then will also benefit the creators of the app considering millions of people use this pointless thing.</p> <p>Thirdly, the economics and tokenomics as an example would be as follows. </p> <p>Let’s say the average person “mines” 5000 Pi/Bee 100 million when/if goes to main net and get listed on an exchange That would mean the total supply of this token/coin would be 500 BILLION. </p> <p>Price comparison/Prediction: Let’s say it has the rough price of BTT (nearly 1trillion supply) <em>divided by 2</em> so current price of $0.0001897 give or take, so that would mean your 5k Pi/Bee would be worth less than a dollar! 1 USD for all your personal data. Bargain!</p> <p>If you’re in crypto and you’re using these apps then I would change emails and phone numbers. </p> <p>On the AppStores it literally says that the company will be using your personal data and will introduce KYC gradually. Currently 8th on social media list (Apple App Store) </p> <p>“Socialchain” is the owner of pi app and website, there is very little information connecting these two but Pi gets shadier every time I try to research about it.</p> <p>I will be hosting a part two with further investigations, sources and technicalities, but for now just wanted to make people vigilant about this crap.</p> <p>Conclusion TDLR: Your personal data is worth more than $1 or in the current situation <em>free</em> Pi and Bee are pointless and currently non-existent. Please stop promoting this shit and making people download it with a dream of being the next Bitcoin as it’s not going to be.</p> <p>Edit: Part 2 (Pi Network Scam) has been posted, some pretty interesting stuff has come to light, such as a court case between 2 of the 3 members of Pi’s team.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Weflux"> /u/Weflux </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/l0p6sh/pi_bee_network_scam_part_1/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/l0p6sh/pi_bee_network_scam_part_1/">[comments]</a></span>Kind Regards R