The newly spreading Bee Network promotes itself as a “profitable financial investment for the future.” Users invest time by running the app (Athol Network is a digital currency mining operation) in exchange for future financial rewards. The Arab Internet community recently promoted the new network with the “new Chinese digital currency” and everyone predicted a great future and huge profits from it, citing the beginnings of Bitcoin and its current status. Okay let’s put the new Bee coin under the microscope.
In short, if the data on your phone, including your contacts and your location, is not important to you, and if you don’t mind the possibility of your mobile phone being infected with malware, then you can consider installing the Bee app. what is the opposite? The possibility that the Bee network, which does not provide any data on its team, will build a valuable cryptocurrency blockchain and allow you to trade it.
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where is the problem?
More than a million users have installed a new application that collects their personal data. They install the application and agree to the permissions that the application requests from the device without reading it.
Suppose, for the sake of argument, that the Bee team has already built a blockchain for a cryptocurrency and you begin to “mine” that token in hopes of benefiting financially in the future. Why all these powers for a mining application! Wasn’t it originally assumed that the main feature of cryptocurrencies was complete secrecy?
Let’s take a small look at what powers the app has on your phone. You can see this list on the app page in Google play.
- Access photos, media files and files.
- Access, read, modify or delete contents of external memory or USB.
- Read, modify or delete the contents of the storage memory.
- Read and edit contacts.
- Read phone status, including incoming and outgoing calls, call history, and your phone number.
- Find out which applications are running on the phone.
- Knowing the type of phone, including the operating system, serial number, and manufacturer.
- Read and know your Wi-Fi connection.
Knowing the geographical location.
Modify system settings.
Prevent the phone from going into sleep state.
Change the state of the Internet connection.
Full access to network information including IP address, operator and connection status.
Run the application with the phone turned on.
Run the application over other applications.
Control phone vibration.
Is that only? At the present time, yes, who knows in which update other powers are added, such as reading notifications or the camera, for example?
Some would argue that users can modify the app’s permission settings and use it without any permissions. But doesn’t that bring us back to the point that it is an app created by an anonymous team that tries to collect important information on Android device users and is unlikely to have any value for users.
How did the Bee app spread?
The Bee app has a referral marketing model and provides higher cryptocurrencies to early adopters who create a larger network of people they’ve been invited through in the form of user incentives. Indeed, it seems that people are so desperate to make money without effort that they do not care about their privacy as they are already freely giving their data to other companies like Facebook.
What is the difference between Bee and Facebook and Google?
Just because you pay taxes to your government, doesn’t mean that you also have to pay taxes when someone demands it. A profitable data trade has been used to change the opinions of voters in the largest country in the world, so why do you think that it is difficult to use your data to provide targeted marketing offers and fraud that may cost you your time or money?
Even if you are very excited to gain more virtual currencies, make sure that the app does not have any permissions on your phone. Many users claim that they are able to use the app without sharing their data. If you can, too, well, don’t worry. The only thing you risk is your time, which we don’t recommend wasting on a virtual currency launched by an unknown team but your time is your choice of course.
What are the typical arguments of a Bee fan?
White paper. Well, the white paper is just a few paragraphs from the high-level description of the project. We know Bitcoin has also had its critics. But Bitcoin was an innovative open source project. Bee is a clone that has nothing to show off its technology or benefits. Just because some people were wrong about Bitcoin does not mean that every cryptocurrency will be successful. There have been hundreds of cryptocurrency scams including One Coin.
what is next?
What if we launched a joke big e-currency just like Doge with the same concept of Pi Networks and Bee Network:
- Referrers will earn worthless virtual currencies.
- The first users will earn more and more worthless virtual currencies.
- The application will try to collect data from users and sell it to the highest bidders in the absence of absolute secrecy.
- There will be no mining. There’s no need to put effort into building an encryption network when people are ready to download your app without one.
- This might be a great experience to see who is paying for these users’ data, but the experience will likely be hijacked by the scammers and you will end up losing real money as it did with Dogecoin.
What should you do?
Just stop chasing promises of free money and do something more productive with your life. I will not bother installing the app. In my opinion, you are just wasting time by trying the app. However, if you might want to risk your data and already own the app, you can wait to see if the founders have actually created a cryptocurrency that will generate money for you. Finally, share your opinion with us in the comments.
Adapted from AI Multiple .