Pi Network is under investigation in Vietnam

[DBProductions]

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.

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

[umbara ardian]

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.

[blackened515]

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.

[Beparanf]

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.

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

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.

[abel1337]

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

[goaldigger]

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.

[yhiaali3]

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.

[disconnectme]

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.

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

[jossiel]

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

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.

[TribalBob]

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

[$crypto$]

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.

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.

[MAAManda]

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.

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.

[Farma]

-snip-

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.

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.

[Godday]

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.

[woez]

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.

[Victorik]

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.

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.

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.

[Oneandpure]

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.

[Oasisman]

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.

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. 

[Freddie Boyer]

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.

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.

[justdimin]

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.

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.

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.