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

[malcovi2]

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.

true and they are turning it into a cult group.

[keseoma]

thats absolutely MLM scheme / scam

I'v been in PI several years ago, and then gived it up soon since there is no public chain info, no blockchain explorer, no public code github, and seems everything fake!

They announced the KYC and mainnet for several years, but nonthing happened , except they add Ads on their official app.

YEP, THATS THE ONLY PROJECT PLACE POPUP ADS ON THEIR OFFICIAL APP!

Totally fake and scam!

[john1010]

I've been a follower of this coin since the day it was started, I have a few people in my teams, but the problem is it's almost years of waiting, I felt that this project is too slow to implement it's features, but recently I saw many post in social media that they using this coin as payment in some of the services and products, I don't know if it is real or part of the ads strategy (hype), Well I have few coins in my wallet and this month I started to mint again. I hope the project deliver what's indicated in their roadmap because Pi is already overdue, more on talk, talk and TALK.

[judeafante]

I've been a follower of this coin since the day it was started, I have a few people in my teams, but the problem is it's almost years of waiting, I felt that this project is too slow to implement it's features, but recently I saw many post in social media that they using this coin as payment in some of the services and products, I don't know if it is real or part of the ads strategy (hype), Well I have few coins in my wallet and this month I started to mint again. I hope the project deliver what's indicated in their roadmap because Pi is already overdue, more on talk, talk and TALK.

I'm not comfortable with projects that ask for full KYC and without following what they've been saying and promising to their user's timeline for a good coin to get listed in the market is not more than 5 months but 4 or more years is just too much wait they just to waste people time and making money out of their people without giving them anything in return but empty a project that cannot get into the market are considered scam even if they just wasted your effort and time.

[Ayers]

I've been a follower of this coin since the day it was started, I have a few people in my teams, but the problem is it's almost years of waiting, I felt that this project is too slow to implement it's features, but recently I saw many post in social media that they using this coin as payment in some of the services and products, I don't know if it is real or part of the ads strategy (hype), Well I have few coins in my wallet and this month I started to mint again. I hope the project deliver what's indicated in their roadmap because Pi is already overdue, more on talk, talk and TALK.

if you want to use pi coin you have to complete the kyc right on their pi mining app, this is what i feel is the dumbest of the pi coin
it's been 5 years and they just promise and promise, they can't do anything for the community and they just ask the community to do what they want
kyc is too risky for your information, they can be sold to advertising companies and can be used for malicious purposes

[adzino]

An obvious another form of MLM scheme. You are making it sound like the "scam" coins has become some sort of main stream currency in that country you have mentioned. I bet those few shops/online stores that are accepting PI is because they are also a  part of this MLM scheme.

There is a huge P2P transaction is going on all over the internet for pi because of its demands. It seems totally hype to me but what is going on right now tells me one thing and that is Pi is not a scam.

Lol, what? I doubt there is a "huge" demand for PI coin. You are just shilling for another shitcoin. They make money by selling those KYC data in the black market. I am pretty much sure about that.

[Mr.sprin]

Pi coin is clearly a scam business without any future potential. Please understand one simple thing, you don't require any specialized hardwares for mining this coin, you can do it right from your phone. So it means this coin is available for free of cost, there is no production cost to it. Why do you think it will have a value?? People will just use their smartphones to mine!

Secondly, you need to be KYC compliant before you can withdraw this coin. This way the owners are gathering millions of KYC data from its miners. Who knows, these data will someday available in the black market!

Avoid this at all cost!

maybe if bitcoin has no value then you will say the same thing, now you believe in bitcoin because it has been proven by the value of bitcoin which is already expensive. Don't judge what you're not sure about. You judge coin pi with your assumption without a clear source, if coin pi is a scam, I am not a fan of coin pi but with your talk about coin pi scam has not been proven, to find out if it is a scam or not, we'll see when this pi coin is valid for transaction.

[Mpamaegbu]

Pi was a euphoria that greeted my country a few years ago in the crypto space. However, many of its enthusiastic fans are beginning to move away from it as they can now see the sham it's. I read somewhere where someone mentioned that the Pi site has started asking for verification and I guess that's beginning to make many lose faith in it. For me, I tend to see Pi as TBC and as the latest one making the round now called BTCs. Until people begin to realize that there's no true "free money" in cryptos, they will keep falling victims to such sham and scams in the crypto space. TBC was popular in 2017 and was speculated to be higher in price value than BTC. Till date, that speculation has proved to be a mere pipe dream as it's not even listed on any exchange yet. It's the same way with Pi and BTCs. None of them are on any exchange. Yet some deluded folks think they can become superbly rich by "mining" them.

[sumant]

Pi coin is scam or legit I can't says that but what I have seen in these 3 or 4 years, I want to tell you. I started pi mining three years ago don't think too much about future and price. Coin is not on any exchange. I mine something 3000+ done their kyc and other stuff in mainnet. Now these days on telegram I found buy and sell going privately. I found a good youtuber boy who wanted to buy. I give him and they give me money in very short time. So that is happening to me. For kyc I don't think there is problem.

[el kaka22]

It's definitely a thing that we have seen that frequently, there is definitely a lack of common things with other projects. This means that if there is a risky thing going on (which could happen) like a scheme or a scam then it looks like maybe it's a brand new way of doing these scams and that's a very dangerous thing.

If not, then it's just a regular project with a new idea and I believe that there is a good chance we could end up with something much more common like a project that reaches to a certain point and then just move with the market, go down when the market goes down, go up when the market does and that's how it will go for a few years and just be that and slowly gets lost.

[Tomohisa]

Another form of MLM scheme for sure. Pi coin holder seems like a cultist to me rather than an investor or a crypto adopter. You know, they even demand Pi Coin have to be traded at a fixed price instead of based on the market buying/selling order, trade volumes, and such.

Many of them don't know the core feature, the selling point of Pi Coin. They want to sell it at a high price, peg it to barter trade like 1 smartphone = 1 Pi coin to increase the price. Just a lot of stupidity among Pi coin holders that I'm sure only through MLM scheme can get people or prey on their greed to sell.

[bitcampaign]

in my country there are many who promote this, unfortunately I'm not interested because I have to use KYC in their withdrawals, I haven't studied deeper but it's a bit uninteresting if you have to use the KYC system, I'm also worried if my identity card is used for crime

[KellyHands]

The PI craze has been evident in my country also. The number of P2P trades for PI are on the increase and they seem to be making a whole lot of effort on the referral as virtually every social media is stock with ads vying for referrals. I've was even considering registering but not comfortable with the kyc requirements. I had my doubts on their legitimacy, and with the information I have on this thread. It's obvious that they're up to no good.

[hamba laeh]

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. For those of you who haven't heard about the pi coin before let me give you a quick introduction:

pi coin is a form of cryptocurrency that can be mined through a smartphone. A user just needs to install the app into their phone a start mining. They claimed to be a DAO which was maintained and secured by the community. They have a community of 33millions of users worldwide.

Recently they announced their main net launch and mined pi is being transferred to their mainnet slowly. What amazed me is people are accepting pi as a form of payment. There were countless attempts to use BTC as a form of payment in store for purchases of goods which weren't very successful. But I got information that in Vietnam and some regions of china many restaurants, and shopping malls are accepting pi as payments. There is a huge P2P transaction is going on all over the internet for pi because of its demands. It seems totally hype to me but what is going on right now tells me one thing and that is Pi is not a scam.

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.

I have known PI coin since 2 years ago and until now PI coin is still talking about and this shows the existence of the PI coin very well. and PI coin is real "NOT SCAM". we can see from the total of downloder the PI coin application has reached millions of users around the world. but we can not be sure where the direction of the creation of this PI coin later because there are still so many assumptions that are not in line.