What is pi coin? Is it a pyramid scheme?

Pi, created by the doctoral team of Stanford University. The virtual currency _O, which can "mine" on the mobile phone, can be used to mine for free, if you are willing to bear, lean on, enjoy and kill Yemu Jiaojiao Shallow < 𻐿枰枰 _ pp. But it is not legal. It's a scam. In essence, sending coins is a pyramid scheme coin, a fake blockchain, and under the slogan of "blockchain technology" and "digital currency", it began to illegally attract money to defraud investors. The so-called currency means that a number on someone else's server can be changed at will, and you can be sealed if you want (for example, if you expose a scam in their discussion group, you will be sealed), and you can shut down the server and run away at any time.

1. Yu Jianing, the rotating chairman of the Blockchain Committee of China Communication Industry Association, reminded investors that a few frauds in the cloak of blockchain will set a very low threshold for users in the early stage, with simple operation and low (free) capital threshold, and promote the popularity of the project through the "head-lifting" reward model and a lot of publicity. At the beginning, the project side was essentially to build a multi-level distribution system. In the second stage, the project announced that the virtual currency could be transferred or traded, and there was a possibility of capital circulation, so it was looking for opportunities to sell the virtual currency in large quantities, and the risk of investors would be greatly increased.

2. Yu Jianing summarized four ways for investors to "lightning": First, be wary of risk-free and high-return blockchain projects. The price of encrypted assets rises and falls frequently, and the air currency may return to zero in extreme cases. The second is to avoid projects that are realized by "pulling people's heads" and multi-level rebates. This kind of pyramid marketing is extremely risky. The third is to learn to look at the open source program of GitHub, and you can find its parameters and operation mode on the blockchain browser, and all accurate information about the circulation, circulation and transfer records of assets. Fourth, blockchain projects that use over-the-counter transactions or specific exchange transactions need to be carefully screened, and it is very likely that prices are highly manipulated and cannot be freely charged.

3. With the help of Bitcoin and dogecoin's myth of making wealth, various names of "digital currency" can be described as "eight immortals crossing the sea and showing their magical powers". A kind of coin-sending (Pi) that claims to be able to "dig coins" with mobile phones has recently caught fire in the circle of friends. Weibo and WeChat friends can see the news that sending coins "pulls people's heads" everywhere. Mobile phones can "mine". Can such blockchain technology be realized? Many people in the industry said that the mainstream "mining" project needs a lot of computing power, and complex algorithms can be designed to achieve the purpose of encryption and security, which is difficult to achieve by "mining" with mobile phones. Investors should be alert to the use of the "Ponzi model" to promote the virtual currency project, and be alert to the risk of being "smashed" and "chopped", even falling into the trap of illegal fund-raising or being invaded by privacy.