About PI Network trend. Is this coin worth holding?

[husencoe]

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

[batang_bitcoin]

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!]

[Bureau]

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.

[LogitechMouse]

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?

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.

[deathcode]

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.

[pinggoki]

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.

[tsaroz]

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.

[husencoe]

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?

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.

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.

[terrific]

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

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.

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.

[glendall]

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

[husencoe]

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!]

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.

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

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

[bitbollo]

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.

[Sophokles]

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.

[cryptoaddictchie]

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.

[bastian466]

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

[Tipstar]

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.

[salad daging]

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.

[electronicash]

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?

[Dunamisx]

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.

[Kelward]

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.

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.