How does PI Network work?
It is an app where users login every day and click a button to get digital currency.There is no proof of work being performed, they just login and click a button.This currency is not traded yet so currently holds no value.level up by inviting more users to the platform.This makes them gain more digital currency per day.This is a common model in Pyramid Schemes and Multi level marketing .Could PI Networks’ currency be valuable in the future?
Of course.We have done an evidence based analysis here and there are also evidence that show that PI Networks is at least attempting to build something of value: According to their Linkedin page , they have 70 employees as of 2021.
However, many of the people that list themselves as working there are app users with titles like “Cryptocurrency Trader”.We haven’t analyzed each profile but there seems to be a group of people working towards building something there.It could be the next version of the app or the blockchain network, that is hard to verify from outside the company Its founders are educated at Ivy League universities.Though this is certainly a good thing, people rarely notice that Warren Buffet, Jeff Bezos, the writer of this article and numerous business founders are also Ivy League educated because their companies rarely use these facts.
Based on our observations, business success is far more important and a better predictor of successful enterprises than academic credentials.And successful companies tend to speak about their business success rather than their founders’ academic credentials.They have had significant growth.They have ±170k reviews and a good rating on Google Play Store.
However MLM models tend to generate fast growth.So what should you do?
I wouldn’t bother installing the app.
You can always make the argument that you only lose time by giving the app a try.However, this belief would lead the believer to follow any dishonest actor who promises future value.There is no scarcity of empty promises in the world, we try to spend our time more carefully.
However, if you already have the app, you can wait to see if the founders actually build a crypto currency.
Finally, if you came across this because you are looking for ways to become wealthy without putting significant effort, we recommend you to look for other ways.As Buddha said , “Our mere existence is suffering” and as Karl Marx is claimed to have said “Life is struggle”.We don’t see shortcuts but consistent effort by flexible and open minds tend to pay off.Instead of such schemes, you could look into learning new skills which tend to pay off better.
We do not cover many such topics but have written on RPA training courses .How useful was this post? Click on a star to rate it! Submit Rating As you found this post useful…Follow us on social media! How can we do better? Your feedback is valuable.We will do our best to improve our work based on it.Submit Feedback.