Pi - The First Digital Currency You Can Mine on Your Phone

[save the frogs]

Starting this thread was a bad idea man!

What if I cut my losses and find out you mine a boat load of it and make a ton of money?

I will end up drinking myself to death in the bars in pattaya man.

Don't let me know what you do. I don't want to hear it!

 

 

[FritsSikkink]

On 2/1/2023 at 2:57 PM, JayClay said:

People probably said the same thing about bitcoin when it first came out.

 

Surely a better question to ask is "if it costs nothing then what is there to lose?"

Security on your phone.

[FritsSikkink]

On 2/1/2023 at 10:34 PM, Neeranam said:

I mined Electroneum on my phone years ago.

How much is it worth now?

[JayClay]

5 hours ago, FritsSikkink said:

Security on your phone.

I've already analyzed that risk in a previous post in the topic. My conclusion was that the security risk is extremely low at present.

[FritsSikkink]

1 hour ago, JayClay said:

I've already analyzed that risk in a previous post in the topic. My conclusion was that the security risk is extremely low at present.

Are you a security expert?

[save the frogs]

regarding security issues, could you use an old phone (not your primary phone) solely dedicated to mining?

[JayClay]

13 hours ago, FritsSikkink said:

Are you a security expert?

 

Expert? No. But I know enough on the subject to be able to make reasonable risk assessments.

 

8 hours ago, save the frogs said:

regarding security issues, could you use an old phone (not your primary phone) solely dedicated to mining?

Yes

[JayClay]

On 2/3/2023 at 9:54 PM, save the frogs said:

regarding security issues, could you use an old phone (not your primary phone) solely dedicated to mining?

To expand on my previous answer, if you're going to use an old phone due to security concerns, then make sure you reset it first so it's not connected to any of your accounts otherwise you're going to a lot of effort for nothing ????

 

The two main potential security concerns are the app itself, and the Know Your Customer process.

 

When it comes to the app, as I have said before, it doesn't ask for any dangerous permissions, so it can only breech security is by exploiting unpatched or undocumented firmware issues. This is highly unlikely. If the app suddenly asks me for access to my media, location or camera with no justified reason then it's time to reassess.

 

I haven't gone through the KYC process yet and don't intend to do so until I have time to research the platform more thoroughly. It's not a requirement at this stage, but it will be before you can transfer your own coins into a tradable wallet.