I truly never got PI.
I still donยดt.
The Pi Network was launched in 2019, and despite over five years of development, its Open Mainnet has been repeatedly delayed.
Till now, if not delayed again they start to be listed on serious exchanges tomorrow 20 Feb 2025, OKX being the biggest and Binance might list later.
Why Buy PI???
I did some DD (Due Diligence) and it just does not make sense to me, so can anyone explain to me why I would buy PI?
As I see it, the token has no liquidity, no use case that is new and engaging, no future perspectives that draw investors, all it has is the data of 100 million users who downloaded the mining app.
I agree, that KYC information is GOLD, and like XRP and PULSE they have a dedicated following that truly thinks tapping your phone will make you rich one day?????
I can only think why?
Capped Tokens Supply
Pi has a capped supply, awesome!
Of 100 Billion Tokens!
Not so awesome!
562 million Pi coins have been unlocked and are in circulation.
At 75 dollars that would be a number...ehh.
The number 42,150,000,000 and that is called forty-two billion, one hundred fifty million.
That would put it in between DOGE and USDC
Welcome to Crypto
Now I saw strange things in this Cryptoverse, I mean DOGE 36 Billion???
$TRUMP coming in a #2
XRP reaching an ATH in 2025
So crazy is not new, but I never felt that PI made sense and to have this PI disaster waiting to happen in the same week as the $LIBRA debacle signals the end of the bull market.
Now I know that there is a big community, all tapping and hoping to be rich one day.
But who is buying?
Yes, many have their coins locked up for years in order to get bigger tapping rewards, those sorry-ass Mofos will miss out on the one minute of fame. But there are plenty that will sell as soon as the coin lists on 20 Feb.
Pi is expected to be listed on several major cryptocurrency exchanges, including OKX, Bitget, MEXC, and HTX.
These listings will provide liquidity and accessibility, enabling Pioneers (PI Holders) to trade their mined Pi coins on open markets.
That is the thing, it says: Trade
What would you trade for a token earned by tapping a phone?
Why So Cynical
Now I may be wrong or:
But just read this, and if you are a lazy F that just wants to tap its phone watch this:
Criticisms of Pi Token and Pi Network
Pi Network got attention due to its mobile-first approach to cryptocurrency mining, it has also faced a few critical notes.
The most basic one, tapping a screen is not mining!
Here are a view more:
1. Liquidity
- Even with unofficial IOU trading (futures trading of expected Pi value) on some exchanges, actual liquidity remains uncertain.
2. Unclear Roadmap
- The project's roadmap lacks transparency regarding timelines, technical milestones, and smart contract functionality.
3. No Proven Decentralization & Centralized Control
- Pi Network is controlled by its core team, and the blockchain itself is not open-source for full independent verification.
- Unlike Bitcoin and Ethereum, where nodes validate transactions in a decentralized manner, Pi Network relies on its own team to oversee development and operations.
- The Pi mining model depends on users forming trust circles, which critics argue does not replace traditional cryptographic consensus mechanisms like Proof of Work (PoW) or Proof of Stake (PoS).
4. Pyramid-Like Structure
- The system rewards users based on referrals, making it resemble a multi-level marketing (MLM) or pyramid structure rather than a fair mining process.
- Critics argue that new users primarily benefit older users instead of contributing to network security or validation.
- This referral-based system has raised concerns that Pi might be more of a social experiment or data-harvesting tool than a real cryptocurrency.
5. Monetization of User Data & Privacy Risks
- Users are required to verify their identity (KYC) using personal information. While KYC is common in regulated finance, Piโs data-handling policies remain unclear.
- Some skeptics believe Piโs business model is less about crypto and more about collecting user data for monetization.
- The network has amassed tens of millions of users, but how it handles, stores, and protects this data remains opaque.
6. Uncertain Tokenomics & Inflation Risks
- Piโs economic model remains largely undefined.
- The total supply of Pi is 100 billion, but the actual circulating supply is unclear although assumed to be 600 million.
- The mining rate has slowed as more users join, but it remains uncertain how scarcity will be enforced once Pi becomes tradable.
- If too many Pi tokens enter the market at once, massive inflation could make each coin easily worthless.
7. Heavy Reliance on Future Speculation
- Pi Network has built hype without providing clear use cases or decentralized applications (dApps) that demand Pi as a currency.
- Many crypto projects fail to deliver on early promises, and some critics argue Pi Network could ultimately fail to create an ecosystem that justifies its tokenโs value, due to a lack of use cases and not bringing anything new hence no adoption.
Summary
๐น Strengths:
โ๏ธ Easy, mobile-friendly mining with no high-power hardware needed.
โ๏ธ Large user base (40+ million users & 100 million downloads).
โ๏ธ Theoretical potential for a decentralized economy if successful.
๐ธ Weaknesses & Concerns:
โ No real-world utility yet.
โLack of liquidity to support the price of the millions of tokens
โ Repeated delays and unclear roadmap.
โ Centralized control & unclear blockchain transparency.
โ Referral-based model resembles an MLM structure.
โ Data privacy concerns.
Pi Network could revolutionize mobile crypto adoption.
More likely, and if not delayed again, it will be a sell as fast as you can coin to suck the little liquidity out of this over-hyped project asap, but hey this is crypto crazy things happen, but still what is the incentive?
Still I wonder, Why Buy PI?
Thank goodness you made it till the end Pees, Love and I am out of here!
Posted Using INLEO
Is this the one where you mine it with your hard drive? I'd rather buy VET.
No itยดs really a mobile APP on your phone, and based on the way they reward people for signing up, it does not feel like you truly mine. It seems to be more tap to earn, that is why I really have my doubts on many moving parts of this thing. I thought Mainnet would never happen but they seriously plan to launch on several big exchanges 20 Feb
Oh yeah, I kind of feel like the tap to earn thing has already run its course. It was a swift start and a swift death.
They were the first, like 2019 already but it's crazy the community is so excited ๐ but my gut feeling says something is smelling like PI here
I would like to think that I'm well informed about crypto, but I never heard about PI... (maybe you can add that to the cons list ๐)
But, I do appreciate your research and heads-up for potential money-lose for your readers... I saw you struggling with writing those "Pros" and I suppose that selling dreams and "potentials" I have left in 2018... ๐
Tapping is not mining... ๐
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I saw many referrals for this and true believers and defenders when TORUM was still active, and many crypto OGs looking down on PI. I looked into it several times but there are some projects I just stay away from even when they are free to mine !PIMP thanks for the pick!
I was mining PI in its early days but I got discouraged and stopped due to its rewarding users based on referral bases and them not having any real utilities.
Most of the people I see promoting it have no clue about how a great project should work.
I so agree, they always bring up that it was created by people from Stanford, the thing is... that does not mean ๐ฉ
A good project has a very different set up in my opinion, but for people to get into crypto and start learning it might be a first step, but I hope like you they see the red flags before investing too much time !PIZZA
Not I will buy PI!
!lol
!BBH
lolztoken.com
I don't bereave it!
Credit: reddit
$LOLZ on behalf of thebighigg
(5/10)
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Mate you are confused by your dyslexia you mean pie !LOLZ
lolztoken.com
Sundae school.
Credit: reddit
$LOLZ on behalf of whywhy
(1/4)
PLAY & EARN $DOOM
@thebighigg, I sent you anSome people are buying it like crazy... well, we don't know what they have seen
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