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Saturday, September 18, 2021

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Domov Reddit Pi & Bee Network Scam | Part 1

Pi & Bee Network Scam | Part 1

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.

I know the Pi and Bee gang will be downvoting this to oblivion but this needs to be said.

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.

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 Bee Games pretty much sums it up.

I know what you’re thinking, what makes you have right to make these types of comments?

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).

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.

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.

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’.

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.

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.

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.

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.

Thirdly, the economics and tokenomics as an example would be as follows.

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.

Price comparison/Prediction: Let’s say it has the rough price of BTT (nearly 1trillion supply) divided by 2 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!

If you’re in crypto and you’re using these apps then I would change emails and phone numbers.

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)

“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.

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.

Conclusion TDLR: Your personal data is worth more than $1 or in the current situation free 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.

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.


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