Pi Coin | A decentralized economy or another form of MLM scheme?

[Javi_Anibarro]

After a very long term delay they decided to introduce a KYC verification system that's when I knew that this project is up to no good, there are just too many good projects in this space to care about now than this Pi Coin, total waste of your time.

Exactly, Pi is not new and has been here for like years.
What we keep hearing about them is "refer your friend to get x coin, get rich, etc". So far they do not show any actual work in their technology, it feels like MLM but without any capital damage except for some of your brain cells and time.
If I were you, I would have avoided it ages ago. Not worth your time and effort obviously.

[Mr. Magkaisa]

To put it bluntly, Pi apps are clearly fake mobile phone mining apps. I'm not saying this to discredit your apps, that's not what I mean. I was told if it was fake because if it was really mining using the phone, it would have been less than three hours before your cellphone would have been stolen.
 Even if they tell other merchants, they accept Pi as payment at other restaurants, for me this is an obvious tactic of theirs to deceive and hype up those who lack cryptocurrency knowledge, especially since it has not been talked about for several years crypto world. And during that time and several months, the well-known exchange site platforms were not even included in the list, or they were not included in the coinmarketcap list. How can I believe in that Pi if when Pi is listed in the exchange they are not even taken care of, it is obvious that they are just frauds and we should not be deceived by such styles of people who are good at fooling their victims.

[DVlog]

Some downside of Pi, in my opinion, is you can only use Pi through your smartphone and you need to pass KYC to use your mined Pi.

Another major downside is that, since its release date, this PI coin has not been listed on any exchange, it is worse than a shitcoin listed on a DEX.

It doesn't matter as long as they find some utilities. There are many cryptos in the market that is listed in many exchanges but don't have a solid use case. I saw some business owner providing their service in exchange for pi coin. Right now the values seem totally hyped but if they can really expand the use case of pi then it doesn't matter what they have done in the past.

[virasisog]

Some downside of Pi, in my opinion, is you can only use Pi through your smartphone and you need to pass KYC to use your mined Pi.

Another major downside is that, since its release date, this PI coin has not been listed on any exchange, it is worse than a shitcoin listed on a DEX.

It doesn't matter as long as they find some utilities. There are many cryptos in the market that is listed in many exchanges but don't have a solid use case. I saw some business owner providing their service in exchange for pi coin. Right now the values seem totally hyped but if they can really expand the use case of pi then it doesn't matter what they have done in the past.

I don't think it's appropriate to trust an old coin that is still unlisted on any exchange. What's the sense of holding it for a long time if the team behind it coudln't create improvements and developments so the project would continue running? It actually went like a Ponzi scheme and they just made unrealistic promises to their investors. It has been a long time since the last time that they have posted an update stating that the coin would be listed in exchange but still, nothing happened.

[DVlog]

Some downside of Pi, in my opinion, is you can only use Pi through your smartphone and you need to pass KYC to use your mined Pi.

Another major downside is that, since its release date, this PI coin has not been listed on any exchange, it is worse than a shitcoin listed on a DEX.

It doesn't matter as long as they find some utilities. There are many cryptos in the market that is listed in many exchanges but don't have a solid use case. I saw some business owner providing their service in exchange for pi coin. Right now the values seem totally hyped but if they can really expand the use case of pi then it doesn't matter what they have done in the past.

I don't think it's appropriate to trust an old coin that is still unlisted on any exchange. What's the sense of holding it for a long time if the team behind it coudln't create improvements and developments so the project would continue running? It actually went like a Ponzi scheme and they just made unrealistic promises to their investors. It has been a long time since the last time that they have posted an update stating that the coin would be listed in exchange but still, nothing happened.

There are some developments going on right now. Many business is emerging who are ready to accept pi as a payment. If a bunch of people thinks pi is a reliable crypto asset with a future and accept it for their service and goods then I think pi is successful for what they are trying to achieve. Their intention was never to be crypto assets that people will be used primarily for storing values.

[|MINER|]

Some downside of Pi, in my opinion, is you can only use Pi through your smartphone and you need to pass KYC to use your mined Pi.

Another major downside is that, since its release date, this PI coin has not been listed on any exchange, it is worse than a shitcoin listed on a DEX.

It doesn't matter as long as they find some utilities. There are many cryptos in the market that is listed in many exchanges but don't have a solid use case. I saw some business owner providing their service in exchange for pi coin. Right now the values seem totally hyped but if they can really expand the use case of pi then it doesn't matter what they have done in the past.

I don't think it's appropriate to trust an old coin that is still unlisted on any exchange. What's the sense of holding it for a long time if the team behind it coudln't create improvements and developments so the project would continue running? It actually went like a Ponzi scheme and they just made unrealistic promises to their investors. It has been a long time since the last time that they have posted an update stating that the coin would be listed in exchange but still, nothing happened.

There are some developments going on right now. Many business is emerging who are ready to accept pi as a payment. If a bunch of people thinks pi is a reliable crypto asset with a future and accept it for their service and goods then I think pi is successful for what they are trying to achieve. Their intention was never to be crypto assets that people will be used primarily for storing values.

I have also question about their acceptance. Can you please mention which business project are emerging that they are ready to accept pi as payment. Pi Coin got a lot of response when I installed it a few years ago, your post made me think again to install the Pi app and see how many I have.  But I don't think all the things you said will happen.  2022 they are looking to officially launch yet no action seen.  I think it will be nothing but a scam.  I recommend installing it from your phone as soon as possible and protect your information from being stolen

[bitbollo]

I suggest you read this topic created by @Leviathan.007 which describes some of the critical issues behind this project.
https://bitcointalk.org/index.php?topic=5237735 "PI Network! A huge trap[Warning!]"
They are online from a while. Some one has exchanged these coins for USD or BTC? Listed some where? They have developed a blockchain or a database for transaction?

Personally, I wouldn't waste a second on something like that. Of course I will never install an unknown application or do KYC for that.

[X-ray]

After a very long term delay they decided to introduce a KYC verification system that's when I knew that this project is up to no good, there are just too many good projects in this space to care about now than this Pi Coin, total waste of your time.

Yeah finally people must be forced to sent their identity to the garbage developers. I just wanna see how many of them wanna try to give their identity to the others who they didn't know about. The developers are collecting KYC. it can be used for the various purpose.
People keep wasting their time to mine this shit. I didn't know how long they will always be doing their dumb activities. People shall never try to deal with this kind of scam coin anymore.

[mdlatifprodhanmi6pro]

What's happened on pi coin?pi isn't listed on any market place.many people sell their coin on high price like 0.35$-0.50$.Vietnam and Chinis people are buying pi coin unofficially and many people use it by payment method.where it will be listed and how many price of it?now 33 million people use pi app.they launch their mainnet.i feel that we should sell some coin this price.upcoming day its price will be dump.we should sell our 50% coin that price.

[bluebit25]

It's funny to see the community supporting this coin. I see a lot of people are delusional about the illusory future with it. And I know there are already some teams collecting it for some value, probably things that are being over-hyped for liquidity. I have to admit that it has too many suspicious and silly points that are no different from the MLM projects I know.

[asriloni]

What's happened on pi coin?pi isn't listed on any market place.many people sell their coin on high price like 0.35$-0.50$.Vietnam and Chinis people are buying pi coin unofficially and many people use it by payment method.where it will be listed and how many price of it?now 33 million people use pi app.they launch their mainnet.i feel that we should sell some coin this price.upcoming day its price will be dump.we should sell our 50% coin that price.

Just let them all to buy what they wanna buy but you shall not follow them to buy this shit coin. FOMO was happening caused by there was a news that it can be used to buy something but this is not yet verified. You must be careful with this.
Years already passed but this project is still getting stuck at the same place. people are getting FOMO caused by that news.
It may be a trap as well.

[DVlog]

What's happened on pi coin?pi isn't listed on any market place.many people sell their coin on high price like 0.35$-0.50$.Vietnam and Chinis people are buying pi coin unofficially and many people use it by payment method.where it will be listed and how many price of it?now 33 million people use pi app.they launch their mainnet.i feel that we should sell some coin this price.upcoming day its price will be dump.we should sell our 50% coin that price.

Just let them all to buy what they wanna buy but you shall not follow them to buy this shit coin. FOMO was happening caused by there was a news that it can be used to buy something but this is not yet verified. You must be careful with this.
Years already passed but this project is still getting stuck at the same place. people are getting FOMO caused by that news.
It may be a trap as well.

It's true right now there is huge FOMO going on about PI over the internet. Many people even make some unrealistic price predictions for pi. Many people are buying this locally and I got information from a trusted source that some business owners in Vietnam and in some parts of china accept pi for their goods. I know it's too early to call it a legit platform but right now some people making a hell lot of money out of it.

[inanilujimi]

What's happened on pi coin?pi isn't listed on any market place.many people sell their coin on high price like 0.35$-0.50$.Vietnam and Chinis people are buying pi coin unofficially and many people use it by payment method.where it will be listed and how many price of it?now 33 million people use pi app.they launch their mainnet.i feel that we should sell some coin this price.upcoming day its price will be dump.we should sell our 50% coin that price.

If I choose to sell everything while it has value, because this is clearly a structured MLM scheme.
there's something else that's weird, whether this is true or not some say accounts of people who have passed kyc can be frozen by developers if suspicious, so what's the point of having private keys or phrases if we don't actually have full access to ownership.

[Orange89]

My Opinion only Don't Hate me 🛑

In Short yes it looking like MLM strategy
They are claiming PI is Decenterlized Network --  Which Decenterlized Network ask for kyc detail 😐? I don't recalling if there are any
What worring me is the TOTAL SUPPLY of the Pi that will definitely insane now in Unofficial community we can sell our pi in around 0.5$ and also some korean people buying it on 1$ what i feel everything is just OVER HYPED definitely it is due to the PI marketing strategy

I am still watching their strategy where they are giving their TOKEN only if we COMPLETE OUR KYC it means they have our detail and they can sell it to any third party community because Pi doesn't have any Well know Kyc audited Platform

They had the INSANE DOWNLOAD IN PLAYSTORE Definitely due to Their Marketing strategy they are first in Stellar Consensus Protocol (SCP) mining , i means mining through mobile Devices that maybe a reason

That's the think i am just finding suspicious in The platform Specially Decenterlized Part i also had around 6000 Pi in my account but without kyc still confused wheather i should complete kyc or not

[yhiaali3]

I have heard a lot of hype about the Pi token that can be mined through a mobile phone, personally I do not believe that there is any coin that can be mined using a mobile phone, these programs are mostly used to steal mobile data or for other purposes such as advertising promotion or others, but they caused Mostly processor overload and battery consumption, I don't know if the information you got is completely accurate but I'm still not convinced so far that someone accepts Pi as payment

[fortunecrypto]

People have already talked about this coin countless times in these forums. Some thought it is a scam project and remove it from their phone.

What do you call a coin that people are mining for over 4 years and is not yet tradeable in the market, I checked it on Coinmarketcap and they have this warning on PI

Pi Network has faced its fair share of controversy recently. Please do your own research before investing.

, they are controversial because of abuse, they are abusing their members by showing ads on their dashboard to monetize their site at the expense of their members and they are not keeping their promise of getting it on at least one exchange imagine you are mining for 5 years and there's no market on it  

Some downside of Pi, in my opinion, is you can only use Pi through your smartphone and you need to pass KYC to use your mined Pi.

It's a warning sign they have 3 million members so they have the data of this 3 million and they are not showing compliance.

[FirmWars]

The team are just using people to market and make money, why is the app full of ads here and there? They even collect KYC information from many people and they failed to deliver.

[LogitechMouse]

I've seen this project since it started and on the way it generate their coins, it's very obvious that it is a scam.
How many years has the project been developing? More than 5 years I think and until now, the coin isn't listed in any of exchanges and it has no intrinsic value at all.

What's worse is that I've seen people in social media where people are using their mined PI coins to buy something that already has value and the sellers are accepting it. Like WTF!!! You are exchanging an item that already has value to a coin that literally has no value at all. I also saw yesterday while I'm browsing a hotel which accepts PI coin as a payment. I don't want to laugh at that time because it's midnight but I find it funny TBH.

How do they get the coins? Thru "Mining" in their phone? How people "mine" Bitcoin and Ethereum are very different than how people are "mining" Pi coins. They said that they are mining just by few clicks which is ridiculous. I tried to install their app once out of curiosity but after I saw the KYC, I uninstalled it immediately. Just don't invest into this project. There are many better projects out there and don't give your personal information to them.

[vanesha]

Unfortunately we have not been able to see PI in any market. in my community they think pi is MLM because those who hold pi think that the coin will be able to buy expensive items with just one pi, it certainly doesn't make sense to some people so they think this is just MLM. but seeing that the pi has been announced for launch is certainly good news for them. even today some of my friends buy pi as a collector.

[coin-investor]

The team are just using people to market and make money, why is the app full of ads here and there? They even collect KYC information from many people and they failed to deliver.

Five years is enough time to prove a project if they are scam or not and all these five years they have not done anything to serve their members, all they gave to their members is promises they are worse than an MLM, they've got everything, vital information of their members, money from their advertisers using their member's presence in their website, there are so many abuses committed by these projects to their members, they should be reported to authorities where they are located.