In 2019 Multiple Stanford professors came with the concept of making a coin that can equally be mined by everyone and created PI network. It doesn’t provide an unfair advantage to people with more money or better hardware. PI coin is the official cryptocurrency of the PI network. Unlike other crypto mining which depends on hardware of system to determine the mining speed. It only depends on the number of people you invited to join your PI Network.
But is it a massive scam just like Ponzi Scheme or is it a Multi-Level Marketing Scheme, We will discuss about it in details here:
So first of all What is Ponzi Scheme?
Ponzi Scheme is kind of investment fraud which steals a lot of money from their investors. One Coin is one of the biggest example which was promoted by woman name Dr. Ruja and she assured that One Coin will be the next Bitcoin. They asked people for initial funding and One coin representatives used to sell educational products to their investors. They even hired teams of salesmen around the world to promote their product.
Do you too believe that investing in dogecoin will make your future secure?
Then you should also read this article on Dogecoin.
What is Multi-Level Marketing?
Multi-Level Marketing Scheme have something called downline. Downline means that if you recruit somebody and that person recruit someone else you will get paid for both referrals. The person you recruited and the other person he recruited which does look like nothing harmless in first sight. But what happens is that the first person who got recruited get most of the benefits, hence results in creating the classic pyramid shape which basically means that if you are on the top of pyramid you don’t have to do anything.
What’s the future of PI network?
PI doesn’t have downline instead uses something known as referral marketing. In which basically you will earn more PI by referring people but if the person invited by you invites someone else that will not benefit you. Referral Marketing is pretty popular mode of promoting your product many bigger companies like PayPal and even Uber has used this method to grow their business.
Whether the company will succeed or not only time will tell that but it will have some value in future according to various reports and analysis there are some evidence that show that PI Networks is at least attempting to build something of value. But as we all know that future is unpredictable and the value of any product depends on its demand and supply.
Conclusion: So in a nutshell,you can install the app for research purposes, after all its not asking you for any money. But as a matter of fact their app has already started showing ads which means that PI developers started earning from it. What do you guys think about this PI Coin ? Will it be able to establish it’s name in coinmarket or it’s just using the hype for their own benefit ? Do share your thoughts in comment section below.