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A few months ago, I have joined a project called Pi Network. This is a reference from my office friend. They have been using PI for a year. I was interested because I had seen their wallet account and they were really earning.

For your information, Pi Network provides a feature to be able to mine PI via mobile. In my research, they already have their blockexplorer, their own wallet, their own mining application (on Play Store and App Store), their own browser, their github account, and their Hackathon programs. I think they have a large of community.

Maybe it's been two months since I worked very easily, doing mining with my cellphone by clicking the lightning logo on the application, 1 activity for 24 hours. I have done KYC and got 44 PI coins in my wallet.

What annoys me is about their fantastic predictions for the future. They say that PI will surpass bitcoin in price. In the last few days, less than 1 PI has been used to buy a car worth more than 12,000 USD (on Whatsapp group)

in reality, 1 PI is only equivalent to 30 USD according coinmarketcap.

Why does this happen? Will this coin last considering it is so easy to get?
Is this coin worth holding?

I look on the Bounty Thread, that is no link to this project promotions. How they doing promote their coin and get a lot of community?

Their Website: https://minepi.com/

The News (Indonesian) :
1. https://www.jabarhits.com/ekonomi/49811370806/pi-blockchain-network-melangkah-sebagai-pesaing-menjanjikan-di-dunia-blockchain
2. https://beritasidrap.com/read/1583/pi-network-koin-pi-tidak-gratis-cari-uang-cepat-di-tempat-lain
3. https://www.jabarhits.com/ekonomi/49811161205/pifest-2023-barter-mobil-dengan-pi-network-menggebrak-indonesia
4. https://twitter.com/USA87500790/status/1738482805074436419?t=5Oa2XnP8la7GmxIuJrljOQ&s=08

Stop wasting your time, you're just wasting your energy and hope as well with that project. Read this thread[1] for you to have an idea on what's really happening with that project that has been there for so long. But until now, did anyone of you made money off it?

[1] PI Network! A huge trap[Warning!] (https://bitcointalk.org/index.php?topic=5237735.0)

You should read this detailed article by Binance as to why the Pi network is a scam. https://www.binance.com/en-IN/feed/post/1088871#

The first red flag for me was mining using a mobile device. The second red flag for me was asking every user to pass KYC. Why does the user need to pass KYC? The last red flag to me is why are they distributing free coins.

The price of the PI that's on Coinmarketcap is only an IOU, and it isn't the actual price. In fact, the mainnet of that stupid project hasn't been launched still and it has been years since the project started. I've seen this in many social media platforms, and just think of how the people got this stupid token. MOBILE MINING? How's that even possible? Kind of funny TBH, but I guess it's a nature of every human being to jump into something that they know they will get money in an easy way.

Why does this happen? I assume that you are talking about the price of that IOU, and it's because 2 parties agreed that they will pay that coin at X amount. Just look at this article from Binance, and you will learn more from it: https://academy.binance.com/en/glossary/iou

Is this coin worth holding? I've been said it many times, and for sure many also said it as well. This is a scam coin, this isn't a good coin to hold, and they are just letting their supporters wait for the mainnet to be launch but in reality, it will not happen, and it will never happen. :D

it's just a story designed to make big news on social media. I would never trust that token.
I've been hearing about this project for a long time. but to be honest, what they say on social media is too much boasting. maybe their community is big, but when it comes to trading turnover they are only around that and can't attract bigger investors. I guess it will just be a game for those in power in the community. while you and people with small capital who join will only be a tool for them for their profit.

If you can find a sucker that would buy that Pi token from you then sell it because that's as good as nothing to you because it's just a worthless token, I wouldn't say that it's a scam because there's no report yet but if it's as  worth as nothing then you're just wasting your time mining that on your phone, that precious processing power could've gone to somewhere more worthwhile. It's not worth holding on to, if it was then a lot of people are already getting into this and as @LogitechMouse has said, they haven't even released their mainnet yet meaning that they're either having problems launching it or they don't have that in the first place.

It was just a scam to get people's personal info. I too was actively involved early on the app. Mobile mining doesn't mean it's a scam. Electroneum's virtual mobile mining paid.
After the relative success of Electroneum, I didn't wanted to miss on the pi network but unlike Electroneum, pi were unable to provide any blockchain or technical update on creation of their blockchain for over a year. I already knew they were not serious about it but still I kept the app as I had a large number of active referrals. The realization of scam hit me when they started asking for KYC. Now there's rumor of the users submitted KYC are being sold on the dark web.

Thank you for your advice. The mainnet is somethink pi users waiting for. Now many people carry out Pi transactions outside the network at uncertain prices. This is the problem that anoying me so hard. I have thought hard that is impossible to do mining with mobile, but i hit a doubt with what it looks like. I am very sad because this coin is a scam and cheat many people in my circle including me.

I am admiring the patience of you guys that have been holding this token. Because it was like a promise like years ago.

Those projects that have been saying that their tokens can be mined through mobile isn't just with PI. There were like electroneum that has also said but I don't where they are right now and the direction of PI where is going, that's also part of the reason why I admire you folks.

apparently there are still people who believe in this network, OP don't waste your time hallucinating this network. From the beginning of 2019 they will say mainet but until today there is no clarity,
it's better to look for something more productive and real than hoping for a pi network

I just join it about 2 month ago, and no has made money. I'm just get some coin with that shit mining activity. I wont to try sell it or if they worth to hold, i planned to hold it. But both of that options it seems can't to be happend.

Thank you for your advice and your references. This is so open my eyes now.

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Sure. I got it. The explanation on this thread so clearly open my eyes.

I don't think people (all people using this Coin/app) would be millionaire.
there are too many bad/strange signals related... leviathan.007's topic fully addresses all the suspicious points.
In general, alt coins are risky but when crucial information is missing it is best to be very careful and avoid to waste money and time.

I think this coin still have some hype in P2P market and last year we saw its hype by seeing listing in some top exchanges where they were selling a coin name PI even the real PI didn't launch their mainnet yet. After few years of mining people got a prolonged lockup period and most of their mined coin was locked because their reffer hadn't done the KYC. Its funny why some people still buying PI in some P2P group and i don't think this project will get any space in crypto world.

I see it trading on HTX seems legit but the question there is why too kany coins are on hold or locked? I got a friend who have this and he said his token cant be qithdraw due to KYC. So if many have their coin locked whose coins are on the market being traded? It could be possible that they wouldnt release that anytime sooner on users cause everyone will dump.

I've known him for a long time, at that time I was diligently mining, at that time I was doing mobile research and I don't do mining anymore and I want to ask in which market can we sell these Pi coins? because you could say that many of my friends are interested in this PI and they have quite a lot of Pi in their wallets. As far as I know, they buy and sell Pi coins from person to person manually through social media conversations

I would not recommend anyone to invest in Pi. It could be a legit and profitable coin but it has too many red flags to take risk for profit. It's basics are against the idea of crypto.
As far as I know, pi don't run on any blockchain and they are neither token or a coin, they are not crypto at all. So, there's no talk about trading it or transfering it on a non custodial wallet. They are asking for KYC which is not a good thing for a project that is still not traded. Though they may argue the mobile mining was a bounty and there are people misusing the system but they should have stated about from the start.

Don't believe PI Network this is a scam coin they are just trying to do fomo by saying the coin in the future can exceed the price of bitcoin, the guy is stupid and too much hallucination with his statement.

I also have friends who have been involved for a long time in the PI Network even though I have told them that it is a scam coin but they are stubborn because of their own belief that this shitcoin will not scam, he has a lot of PI in his cellphone but cannot be sold to the exchange except to send to fellow members again.

How long has PI Network been around? I think it's strange that for years it still can't be sold, even though I know that this coin is a scam.

surprisingly this coin still is getting hyped for a very long time. there are already two bull runs that passed and this scam is still alive. there's got to be consistency to this project other than making newbies believe they could mine coins through phones.

i look it up on CMC and indeed the price is $30. Bitmart has the largest volume.  how come theyre listed while mainnet is not yet launched?

If you're having pie coin mined, I think you have just overcome the first challenges to enter into another one, their KYC procedure is the challenge here including the duration of time you will use to get approval from them upon the completion of every stages that transfered you from their test-nets to main-net, but it's something that is promising to be a good coin if they never disappoint themselves about the whole project.

I've been hearing about this pi token for a long time now and as you said it has a mining app where people can clicking on mobile phones, I think that it's similar to Ice mining app where the holders clicks the app too, I got bored of clicking on Ice, and left it, I hear that they recently distributed airdrops. Frankly I really don't know what to make of these tokens, I can only say that if anybody finds them profitable to hold, then all the best to them, but I doubt that I'll use my money to buy them, unless I start seeing legit proofs from their investors.

Just move on as this PI network has been a scam where people have wasted enough time and did KYC for no reason, I mean how can one project be on developing stage for years and there has been no news or update about listing and it irritates me to the core that some are still mining it through their mobile and in so many years we have not seen any update from the dev team about when the coin will be listed as they just divert they just divert the topic with unrelated posts or contests wherein nobody gets anything. We should stop wasting our time in this worthless project.

I know some people who invested in pi might have gotten some profit but this does not mean this will be a good project at the end . Project like it is not something people needs to put their mind and be depending on it to bring profit. Their are project in the past just like pi that people invested in it and gained little profit but at last it ended to be a scam project . I don't believe in pi, people just need to be very careful and stop going for a coin that will end  up to be scam project at last.

What i mostly suggest for people is that whenever a project comes up too hot maybe that looks very attractive to them what they could do is to raise little funds they felt can gamble with it without putting much funds because some of these coin might not surpassed the price of bitcoin for any day without falling, though i hardly pays attention to this coin because I know it must surely ends in pump and dump even though it has any potentials that doesn't mean it would over shadow bitcoin for any reason.
Here do not get carried away by PI price or using the rate at which the community is growing and venture into it you could land yourself into several lost so, the best is just map out the amount you think you can gamble with and buy and hold if you think it could be a gem in the nearest future.

When one grows too important, he knows how to comprehend the entire situation, whatever is the case, he fights to record good results all round. The space doesn't seem friendly as possible, there are quite challenges to encounter. Worthless projects will only stimulates our hope for a better tomorrow. Unknowing to us, we just ended up missing out on the golden opportunities that would skyrocket our levels to promising sides. PI network is consider to be a a big scam mostly for those people that have no clue regarding the market.

Dude I have a shit load of PI! But how do you access it? How do you withdraw? I don't think anyone has achieve this. We are talking about the coin made from those Stanford students, right? That coin is definitely one of the coins that was in that Airdrop ICO phase long ago in like 2018 and 2019. That was a fun phase, I did a little airdrop research and signed up for a bunch on ERC-20 Metamask Acct Wllt. At one point all of my airdrops were worth nearly $100 before they all plummited lol

It is not a trend buddy, there was an exchange that listed it as an IOU and see on how these exchanges are also taking advantage of the situation. Because they know that they're not even going to list the actual project and the devs don't work for it.

And instead waiting for some hypes to be gone, they've listed it so that those gullible folks will be seen trading the coin.

It's a total scam and never feel regretful if you're going to abandon it because it doesn't makes sense. You guys have been told about the upcoming updates and sh!ts? Don't be gullible.

The reason why I may not be too involved in most of this minning token is that I don't really see a good future with them. Most don't even have a used case. Then what do you expect of such project. Although I never get involved in Pi but I heard a friend talking about how he sold part of his own Pi. Since it's being mined, one can try out your luck on it if you have time for such things but I can't invest my money on such project.

is there really any real evidence. it's just a video showing off the car and then just saying buy using pi. does not prove anything at all that buying a car using pi. just a testimonial between 2 members to make it easier to find referrals.

I thought PI had disappeared but it still exists, the community got bigger after I saw the PI group on Facebook. Once there was an argument about PI that made people aware that PI investment flows are very difficult for the community to understand. It looks like PI will live for people who are easily carried away by sweet words to get rich quickly. most parents and millennial communities rarely participate

Yeah it is lame pyramid scheme ad. I thought they just that but surprisingly they also created mobile mining app and now mainnet. Even if it become real crypto probably it'll just like a regular alt

I have see on HTX about this coin last night. I see the option for deposite PI to HTX still suspend. I have see on other exchange base on Coinmarketcap information to check if avaliable for threath, also have the same thing. This mean that coin can't trade yet.  But the media has make people so interested for doing transaction out of the market. I think some really bad will happen soon, and so many people has lost their money when they realize it.

I think this is just only an IOU. This is not really price that running. This is just an aggreement of 2 entity. The problem that happent today is some people like me think this is really price and we can sell it. even though there is have an warning on Coinmarketcap, but it missed to understood what is it. I'm really surprised when i try to sell, their is still suspend for deposit. I hope the peoples will know about this situation and refrain from acting more and stop hope.

Surprisingly, I have been mining for almost two years now.  Since then I have been waiting to be listed and who will I do? Many people are saying that I will clash with foreigner but I think.  I think it's a scam because everyone is still wondering whether the token has been selling for a long time or not, so I think it's a total loss project.  Those who do not give it to their eyes, if they realize their mistake, they should not give it because I was also looking at a place that it is in scam.  Let's see the rest of you, it has been hyped for a long time, but it may come after being hyped, but I don't think it takes that long for a token to hit the market.

I feel in a worst-case scenario the team behind the Pi network will shut shop as soon as they hit the target for KYC. I am not certain but as they emphasize a lot on KYC it makes me believe that they are going to sell this data to the highest bidder if they ever shut shop. Why would any cryptocurrency project with an actual use case would ask its user to pass KYC first and then mine the token? This is nothing but a big KYC scam in the making and we will certainly hear about it when the time is right for the team.

Here in our country, some of my crypto friends have been buying Pi Coins, approximately at $1 per coin. I see their posts on social media as we share the same crypto interests. It seems they are speculating on the Pi Network Project. There are times when I regret not paying attention to it earlier, I didn't anticipate its value, especially considering selling it to my crypto friends on social media. However, I also feel a bit sorry for those who bought it purely as speculators, knowing they might be wasting their money on Pi Coins. I attempted to warn them about the Pi Network, but they got upset, so I decided to let it be.

That should be the first red flag for anyone who trust bitcoin. whenever a project team/owners start comparing their shit coin with bitcoin or even try to convince you that their coin is better than bitcoin. you should know that moment that's going to be a ruggpull.


coin will last or not is hard to tell. but one thing i can tell you for sure. the coins price will drop so much. it'll be worse than any memecoin if they keep mining unlimite supply like that.

Bro, Bounty is not the only way to promote a project. there are lots of methods. and Pi coins best strategy has been their referral program. and they've been there for many years now. so it is not a surprise that they have a big community.

Actually no body knows if this project would work out to be good or not because it has been there couple of years now and people have been looking upto it for mainet yet no way. Many people has uninstall their mining app. Me as well I have many pi coin in my possession and yet my kyc has not been approved after mining for 3 years submitted my kyc for 2 years no approval. And people have lost hope on it. At a point when there was speculation of the  global concencus value (GCV) of about $314159k value came out I thought I was Super rich to change the Destiny of my country if its actually possible but I am seeing fantasy instead of reality. Now pi is just like app to create traffic their brand is everywhere while there coin hasn't been listed in any exchange and yet the are popular. I wounder when this project will start? Nicholas kakaki is getting older yet the project is still dormant. Whatever the case may be if it finally launches I believe it will be great because great thing alway take time to achieve.

The reason why I may not be too involved in most of this minning token is that I don't really see a good future with them. Most don't even have a used case. Then what do you expect of such project. Although I never get involved in Pi but I heard a friend talking about how he sold part of his own Pi. Since it's being mined, one can try out your luck on it if you have time for such things but I can't invest my money on such project.

I have about 600 of these coins, but whenever I try to withdraw them, I am redirected to a site with KYC requirements. Despite checking the coin price on CMC and deciding to risk going through KYC, the site mentions some limit, and I never completed the process. Eventually, I deleted the app due to constant annoying advertisements. This project does not inspire confidence.

PI Network is a big fraud coin.
It does not offer any value and is just outright fraud, covered by a marketing facade.
PI Network is even requiring KYC, where your identities data has a high risk to get leaked into DarkNet dealer stores.

It is highly recommended to stay away from PI Network and warn everyone to stay away from it as well.

Al cryptocurrencies supposed have their personal Blockchain and network and not to rely or depends on another network to survive. This is the second time I am hearing the name of pi network and what I checked the networth of the coin it is like this Pi Network = $31.35 and which means it is doing well. But I am not interested in all these coins because these coins are not even popular in the industry but their prices are making waves. Who is investing in them is unknown but their prices are increasing every day.

Some people are calling pi network as a scammers coin, well I can't judge them from afar.

It is the worst coin and it's a total trash, the ones who are mining it are wasting their time and the ones who already have it are also wasting their time by holding it.

There won't be any liquidity of this coin and no one will get a penny because this coin's main net might not get online anytime.

You are so late on this bro PI was a piece of big news back in 2018 they even claimed to have built a community of millions of miners of their shit token but after 6 years they are not yet in the market, what you're seeing in the market are fake token they have a disclaimer on this, the developers of this project already made huge money from monetizing their platform in the past through ads, it has been a long a wait for their miners but until all they can do is to promise, so much about claiming as the next big thing in Cryptocurrency.

Of all the projects that are fooling their investors and those people who have believed them, this is the worst of them because it has been doing this for years now and they still believe it could become a huge successful project in the future without giving them Beta of this project so that they can judge and see if the owners are telling the truth or they have just been making it all up since the beginning but instead of that, they just keep making false promises to hype their followers and investors which is kinda foolish for whoever still believe them because if they have been true to their promises we see Pi Network on the top of the altcoins market right now.

I also think PI Network no a real project. Thanks for your research.

the price is currently around $31 and is ranked 3102 on cmc, besides the 24 hour volume is only around $180k and this volume is considered very low. if you are just curious about mining it doesn't seem like a problem, but if you want to invest in this coin I suggest not doing that. and one more thing, everything your friend says is bullshit.