Their observable data collection and sharing efforts are also in line with their privacy policy. However, Pi Network's data collection approach is similar to that of other social networks such as Facebook, in that they collect almost all the data they can get from users and use it to optimise advertising. But for short, Pi Network does not sell or collect the personal data of its users. Note that this is by no means a complete list.
Pi Network could sell the data to advertisers on a massive scale. Some users see it as a way to get involved in a cryptocurrency early on and profit in the future, just as some early adopters of bitcoin (BTC) have accrued profits from mining and holding the currency. However, others have likened the Pi cryptocurrency to a worthless multi-level marketing (MLM) scam. But what is Pi Network and how does it work? Have you heard about the new cryptocurrency and wondered about the value of the Pi coin as a potential investment? According to the project, it allows anyone to mine cryptocurrencies on their phone without draining the battery.
As a result, there is now frantic speculation about what the value of Pi coin might be in the future. But Pi coin projections are complicated without the right data. Unlike other mining apps that display ads without the user's permission, Pi Network allows its user to enable or disable the option to display ads within the app. Pi Network (PI) has caught the attention of cryptocurrency investors before the coin is available for trading.
When the community deems the software ready for production, and it has been thoroughly tested on the test network, the official Pi Network mainnet will be launched. However, my personal opinion is that it is worth staying true to a concept for which the founders have invested a lot of effort. According to Pi's roadmap, they plan to introduce a know-your-customer (KYC) solution, expand developer resources, more applications and community content, along with the launch of the mainnet. In recent months, many mobile mining applications have been launched to compete with the fast-growing and rapidly developing Pi network.
As a result, the Pi coin is not yet available for trading on any cryptocurrency exchange or trading platform. I will write more about this project in the future and if you don't have the Pi Network app yet and don't want to miss this, you should install and run it on your device now. On social media, Pi Network, which claims to be based in Palo Alto, denied that data had been stolen from the company. But with the existence of such scam apps, Pi Network was no exception with accusations of being just a possible scam that only earns revenue by displaying ads or selling personal data of its users.
Before I conclude, I urge you to do your own research on Pi Network and cyrptocurrencies in general to have a full understanding of how they work and have your own opinion on the matter. Advertisements have recently been added to the Pi Network app, suggesting that the main motivation for the software could be monetisation of the millions of users who have downloaded it. The Pi core team will host several nodes on the test network, but will encourage more pioneers to start their own nodes on the test network. The data I have invested in Pi mining is nothing compared to the data I have spent watching YouTube videos that nobody pays me for.
However, it should be noted that users can only earn coins from their own direct networks and not from the networks of their connections, as in an MLM scheme.
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