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Pi Network is a huge scam beyond our imagination. It seems Vietnam has started an investigation against them,

https://technext24.com/2023/07/06/pi-network-investigated-fraud-vietnam/

If you are still mining this coin from your smartphone, probably it's the time to remove the app permanently.

Initially, when PI Network created a lot of hype, I was skeptical about it. Because where people are investing huge amount of money to build mining rig, how can it be so profitable for its miners only through mobile mining? However in the beginning I also mined with its hype but after a few days it didn't seem very safe to me and so its stay on my phone didn't last long. Anyway, I think it will eventually come out as a scam, so I will tell everyone not to invest in it, also don't let it place on your mobile.

The news is very surprising, i have this coin on my smartphone i am still mining this today also some of my friends are still mining the pi coins,because they believe that this coin can make them rich in the future i also believe in it but because of this news maybe my friends and i will stop mining.

I pity people who are still wasting their precious time and efforts mining pi coin, I wonder what they are hoping to get.
I will always reiterate, pi is scam and people should stay far away from it.

Although I don't understand what they are talking about but I saw a certain video on tiktok about some group of people attending certain events about Pi and everyone talking to each other that it costs about $50000, I laughed and I don't understand where they get their faith from such a big illusion. Really the way I'm looking at Pi is one of the big Ponzi projects, really the way it's spread and the people who come into contact with them are mostly people who don't have much knowledge of technology or economics, they simply have a certain amount of mined Pi on the device and are rumored to be priceless to create a hype.

This is just one of the (MLM-Scheme) method.

Most the time, they're gonna to do some event or gathering with a people who don't really understand about crypto. Then they're trying to sell the (Pi-Network) token peer-two-peer because they cannot withdraw it.

They try to sell personally to other people, for scam them. It's already being used multiple-time for these scheme, not only don't understand about crypto they also try to starting older people because easy to be manipulated.

I'm not surprised by this revelation about the Pi network. It's been in existence for quite some time now, and I'm curious to know which top exchange it is currently trading on, considering its longevity. Additionally, I'm interested in learning about the influence or presence it has on social media. Unless we choose to deceive ourselves, it's clear that cryptocurrencies and social platforms go hand in hand.

what I know is that large projects require quite a lot of equipment to mine, but PI only needs simple tools like a smartphone. I think this project is just an ordinary project but some people say that PI will beat BTC. any sane person would surely not believe that and I'm thankful I never mined PI.

The market has performed very poorly since Pi was first listed on the exchange (which is a sign the bubble has burst). (Random speculation) Maybe for that reason the team denied the listing was not through their approval and what they really wanted was to build a bigger community foundation in anticipation of a big price drop.

Whatever planning and development they have been doing for a long time, the actions of the Vietnamese authorities I think are beyond their expectations. And this is an early sign that Pi is likely to face more resistance in some other countries' regulations. I hope, their community is keeping an eye out for this to happen.

Mining Pi Network on smartphone when you turn off your phone is still possible. I can not step in shoes of people who believe in that technology used for Pi Network. It is unrealistic if we are not greedy. Don't need to have deep knowledge too, just not being greedy.

Like you can earn money on your phone when you sleep and your phone is sleep (power is off) too. If I was those people who believed in Pi Network, when I was introduced about that coin like that, I will stop listening.

Pi Network does not have a blockchain too.

Hilarious that some exchanges tried to use the name Pi Network to scam their users by listing a scam token with a name Pi Network months ago.

Im not really sure if they are doing blockchain via phone. Obviously a big scam for me since how does mining works without chain? From here, users who are knowledgeable on blockchain should stop considering or encouraging others cause they are earning thru p2p transactions cause those buyers would suffer when they pulled of a big rug.

Good initiative by the Vietnam government. These authorities have for sure a lead on where they'll begin the investigation and who are the people that they'll search for. This mania will be stopped and alert the other pi members in different parts of the world.
They've got a lot of people that have been fooled and even sent their verification and identities on them. That's why many are hoping that this won't turn into a scam.

Only those who already know how difficult it is to mine coins will understand that the way to get these coins just by mining via smartphone is a lie, unfortunately despite being told many times not many will accept that this is a scam project, maybe even when trading their IOU tokens running on many exchanges and thinking the price of this token will reach that high is the truth, so many still think this is a good project. It is not strange if in the end the developer of this project is investigated because of course there are many who suffer losses, but those who experience these losses will never get their money back. However, what the authorities in Vietnam are doing is a good step in order to reduce the activities of scammers.

Yes, it seems that the Vietnamese government sees Pi as a big threat, actually I have used their application and exploited Pi before, but I find it funny that it is just a place for people to interact Tell the story of the future will be rich. I also got somewhere around 1000Pi and also sold out to some fomo people before when it started listing on houbi for $1, although I see they have bigoted hype about multi-level forms and The target group of teams is actually they have little knowledge to be easily fooled.

I believe you have seen how easy it is to mine Pi coin! Now ask yourself a simple question -

Why on earth someone would buy a coin which can be easily mined using smartphone and without wasting any energy or hardware computation power?

Once you get the answer, you will uninstall Pi coin from your phone.

A friend of mine once recommended Pi Network to me. But after seeing the business model they offered, I immediately thought that this project was a scam or a pozi scheme. You can see by how they talk about networking and recruiting people. This is exactly what Regalcoin has done in 2017.

This is what im waiting for. Seeing government is trying to investigate this shit scam coin. I hope that police gonna raided pi's office too. It will be so good to see those pi developers will be jailed.  I just wanna tell my friend about this news since he is still mining this garbage coin.

I think if his response is still gonna defend his favorite coin (pi).

There are thousands of pi supporters in FB who keep being denial with this news.

Hopefully, since the Vietnam government already taking scrutiny of this coin, other governments would be encouraged to take a look at the issues, especially the ones that have a big userbase.


As obvious as it seems to be, their target market is surely not the educated one. You would never know how easily some digitally illiterate people get deceived by this kind of scam. They are not just greedy but simply did not comprehend the basic scam scheme, traditionally or even digitally, let alone what is cryptocurrency all about.

Surely the one who endorses and preaches this coin can just spout out some technical or financial jargon that makes the other person dazzled. Speaking from my experiences, most people who fall are the ones who mainly lack digital literacy.

https://www.talkimg.com/images/2023/07/07/ZSzJC.jpeg
One funny thing I am imagining about Pi, if this investigation is the downfall of the Pi network then what do you think about SEC investigations into all cryptocurrencies or ongoing investigations? out about tether hasn't done an audit since September 2022 and even then has very little US dollar backing? It's funny to see things like this existing and disguised as cryptocurrencies, views that are downright absurd when you consider events, blockchain technology is either future or not. I'm trying to see what's going on beyond the time it takes for the token to hit the market. Any proof other than the greed of the pioneers that someone can provide me? Real truth please. I am not a fan of any cryptocurrency. Just keep seeing the typical obnoxious stuff here. The only negative thing that can happen to Pi is that people lose faith in it, why are people holding pi this close to tear it down now?

stay away from it, why? It sounds like you are disappointed that you didnt get involved.

What is there to lose? its free to mine.

It has a massive user base -- one of the largest. Chances are that some large crypto company will buy them based on this fact alone. So even if they dont get their act together and launch -- they wont need to. This is the first project available to everyone with a level playing field. They have not launched and money grabbed. They are buliding community first.

what are the drawback to users? Your statement is blank and aimless. Pi has unlimited potential for many reasons. Howwever, even if they simply close down -- ppl have lost nothing. pyramid or ponzi schemes involve transfer of money.

Based on what? This article is worthless. nothing to lose

I find the pi coin to do quite well at one point, which is its marketability. There were a lot of ambiguities when it first launched, and along with them were a lot of ads when using the app to mine Pi. But the reality is that many people still mine them even though there are many reliable sources or organizations that say the coin is really a scam with signs of a ponzi scheme. Marketing so well makes many people's brains so foggy that it's just a penny of trash. And how pitiful that many people are still stuck in that dream of getting rich. So stop and delete it from your device.

We believed what our mind makes us believed, alot of controversies concerning this pi project. Some countries take it so serious specifically China while some countries see it as some kind of dump project that would not even yield profits. I was so serious with the project but as time goes on, constant minning with no results, rather Pi brought KYC which was one of the difficult task for some pioneers and also active miners, most dropped from the project, mining for months and years with no results, it's discouraging and frustrating. Although I've heard about the project recently, it's started selling and people with hugh pi mined will be rewarded when they sell their po, I guessed I would go sort out my logins information, I can't afford to miss out.

But but but PI will be worth 1BTC someday said by die hard Pi Network farmer since 2018.  :D

Pi network army is like cancer on social media that doesn't die even if they didn't get anything from destroying their mobile device by mining this useless token that is still doesn't have any mainnet. I'm not familiar with Pi Network structure but does the team of this project is from Vietnam that makes their government manage to investigate them? I really hope they will be busted and jailed since they are selling Pi tokens via P2P.

It's an obvious scam if you inspect their tokenomics. It's impossible in the first place to mone that easily on a phone. Newbies or clueless Pi users thinks that it has no harm in this project given that they didn't spend any money in it but the KYC they have done is what they paid for in "claiming" their tokens. It's good that there's a ongoing investigation now on Pi knowing that there are events that are created for this coins and merchants are the one who will be affected with this because they accept this token as a payment for their product and services

Many are still believing that one day they will prosper just because of this project.
Many are still mining and using this platform, its good that the government started to investigate and save other people from being a victim of this scam scheme. Since then I’m not a believer of this project, I don’t know why many are into this but again its better to deal with the real good project than to be fool with the Pi, the hype is gone already and those who are trap into this project have no choice but to continue to promote this.

It's good that I didn't believe from the beginning that Pi Network could be mined via mobile, I never believed in mobile mining.
Although there is a lot of promotion for Pi but I didn't believe in it, there are big channels on Telegram promoting this nonsense.

You don't need mining rig to mine Pi Network, I think you are speaking of another thing. You only need a mobile phone to mine it.

I have always have concern about the project, a lot of tokens has been mined already and they seems to be promising people significant riches just by holding the tokens, with all these Stanford people that are being used to front the project if you looked deeper something seems wrong, I have said it before that Pi network is being used to mine users data, I have not seen anything that the project stands for they even add ads to the apps this is the first red flag for me, if you think you want to make people rich why turn your users to your product

I don't wanna laugh but that's always their defense mechanism. They're always defensive and reasons out that this project will be valuable and could be worth something as that.

But they need to accept the harsh reality that they're hoping for nothing and it's just thin air and fake promises that they're leaning on. That's sad to say but they need to extract that.

it's been a long time since i stopped mining on my smartphone. I even deleted the application, I have known PI for 3 years but until now there has been no clarity on the continuation, and what I really regret is that the followers are too hallucinating to become suddenly rich by just mining and some even buy this token just because of the hype

Only people don't understand crypto fully so those who just joined the PI network are laymen, and for me there is no mining in cell phones that is profitable, so the PI network is exactly the same project as a ponzi scheme that must invite many friends.

See in some media there are many groups about the PI network in each group that has a vendor who directs them to believe in this project, for me this is an unclear project but many people believe in this, I find it strange that they want to have extra money but in the wrong way.

What you say is valid, I know we are both from Indonesia and Pi Network is growing very rapidly there, I have even seen in front of myself a group of old people wearing purple clothes with "Pi Network" text. Vietnam has made a move by investigating this Pi Network, I hope that the government in Indonesia will also take the same steps. Because Pi Network has entered the side of fooling people.

yes, it is. even very many people in my country believe that this coin will have a high price, because of that they are sometimes willing to exchange some Pi with the assets they have. Even so, very many people explain that the potential of this coin is not as big as they think. many people don't believe in it and create their own community. so many people who don't understand crypto support this project. I hope they don't get big losses if this project is suddenly categorized as a scam project.

Yes, many of my friends are tempted to join the Pi Network because it offers high prices and gets rich easily. This is their marketing weapon. They target people who are after instant riches and I think scams like this will continue to exist in the business world.

Yes. as avikz (OP) said Vietnamese authorities have launched an investigation into activities related to cryptocurrency in this case Pi, the offense I think is a concern about the complexity and lack of regulation in its operations and the potential for fraud and data theft. Nha, after Vietnam, will this also be contaminated with other countries. Yes. very interesting to follow.

People like you will never learn anything.
They have been building community, do how long?
Well, I can't argue much with you because it is obvious you are a miner and nobody can convince you otherwise and I ain't even trying to convince you not to. Just keep on mining, it's your time, your data and like you said, you have nothing to lose.

In my country Indonesian, Pi Network growing faster because many people start mining with this project almost last three years and keep exist until right now. I don't know what happen in their mind with Pi Network have higher consensus price more than Bitcoin, its difficult how to make Pi Network member understand about how many years waste their time by clicking adds every day to earn Pi Network coins and can't expected or listed on the market right now.

But have good news for Pi Network are disappointed waiting consensus price, has some black market want to buy this coins but cheapest price under $1 and right now my friend still want to buy with this coin but sell to member in other country.

Since the very first time I've heard this network I instantly thought it's not gonna be something that becomes bigger, they are really trying to become the next bitcoin. They created much hype around this network by hiring social media influencers to advertise their network showing "how successful" they are LOL. Everything was just hype and the reality is Pi network is nothing but just another scam. 

Yes. Each country has a different point of view. it's good to be a beginner. If we look at their biggest complaint, the KYC process is difficult and long. One thing that makes it widely used is the news that always displays PI news, it won't be long now... and it will overtake BTC. It may sound funny but what can I say, those who understand crypto are dominant if i see.

I don't think he will say that if he didn't tried it and do you think if he got a coin and he sell it for a good price, he will say those things? Of course not but he must be thankful instead that he got free money once from this project before it turned out bad. Yes it's free to mine there but we are required to do a KYC. Maybe you can still say that KYC is free. It only means that you didn't value your privacy and personality.

You didn't know that criminals can use your KYC and you will be the ones who will get blamed for the crimes that they did. The news we have here is great. Hope they will get shutdown so that there will be no more people who will waste their time and risk their identity on this scam project.

News like this is unlikely to sway those who put too much faith in the Pi network. They have already entered and hoped and many followers of this project are those who are at an advanced age so they are easy to manipulate.
I'm even sick of some of my friends posting these very obscure Pi network posts. It's clearly just a speculation project and will only be an abandoned project when the developers have a lot of money from defrauding their members. There is no proper place for a project like the Pi Network, it's just a scam.

It’s lack of knowledge who guys comparing Pi Network with BTC, And i don’t know that how they believed Pi will overtake BTC what a ridiculous expectation, where they are failed to launch even their main net. I heard about this coin from a friend of mine and i minted some coins but i removed this app after few days it’s absolutely bullshit.

How is pi a scam since all that has happened was for users to mine and earn free tokens. Have they conducted any sale of sort that makes them to be a scam? Am yet to understand it.
Pi is a network with so many supporters all over the world, so many merchants already accepting pi in their smalll or big scale business. Looking forward to the outcome of the investigation.  8)

Just because something is free, doesn't always mean its free.
Yes people maybe don't get fooled with their own money, but maybe other things like time, privacy (that in the end is something you need to create money)
Also have this app on your phone can be dangerous. I have no idea.
But saying something isn't a scam just because its free its not always the case.






They can give away how many tokens they want, the tokens have zero real value at least for the moment.

I will not call Pi a scam until the investigation result comes out. This happens with many projects. It is not that a project is bad just because an investigation has started. Besides, the Pi team or app is not asking any kind of money from anyone and people are earning Pi on their mobiles, so I don’t understand what the scam is here. Even those who have mined it are easily selling it peer to peer from their transferable balance after KYC approval. Overall, many people have made money without any investment. On the other hand, many investors are buying it and hoping that Pi will change their lives. That is completely wrong and I advise such people not to buy out of greed. It is not necessary that its value will be very good when the mainnet goes live. Nothing can be said about it right now.