Topic: PI Network! A huge trap[Warning!] (Read 10142 times)

 


Totally disappointed on they running Chinese ponzi app advertisement to their users inside app whereas disabling ad works only for two weeks than after it enables auto. https://i.ibb.co/4VVQR0J/Screenshot-20240216-023305-Pi.png

Probably 10-12 million users mine daily said (as per their moderator) to their app but their local board moderator sucks, still stuck on kyc's verification & i.e core team perplexed on mid hence no solution resulted yet been a more years and extedning their project day by day: month by month & year by year.

If this coin never ever gets listed in any exchange then it will be denoted as a biggest scam in the crypto history.

The opportunity is on the team and not on the users. Just as the same when the time that I've said on the quote, still, what's the progress? If there's any progress then that's good for the hopefuls of it but if there's none, they need to start thinking of what's the right thing to do.

And that is to just dispose and forget about it because their hopes might shatter when they see the reality of it that the opportunity they're hoping for of becoming rich through this project.

Well, it's their time being wasted on this one so if they're holding on and waiting for it to get some value, wishing them luck but hoping that they'd knocked by the reality.

I don't actually know when the pi project started but I can remember that someone sent me a link somewhere 2020 even before I knew this forum. I mined for some weeks but was not comfortable with the project and the stress to visit the app every 24hrs. As at then, I do not know much about cryptocurrency, but with all the promises they made, I still had the gut to uninstall their app because I thought that their main goal was to program my mind to stick with their app and that is why they had to ensure I open the app and mine atleast once every 24hrs. I had been controlled and being stressed, that was why I uninstalled it.

This reasoning is faulty. This thread was made 2020 and this 2024 and the project is yet to be listed in any known exchange. Ok, you mean if they don't launch till 2030, we shouldn't conclude that it's a scam and maybe wait till 2050 when they will launch?
We can continue counting from here
 

Actually i see many non-crypto playing pi network as their hope to get rich.
Dispite i know it's a possible scam but there is an opportunity to earn money because they have alot of crypto newbie in their community.


i believe people start buy and sell those pi network around 0.3$ each in social media.

Maybe they realize that it hurts waiting for so long expecting to get rich by this project but it didn't happen. For long time Pi network project always been hype and been used by those people who want to take advantage on situation. Its better if those people still hoping for big profits they can get from this project is to forget about it and spend their time on other valuable project since there are more better than this. For this long they should know that there's no hope for this project to became more bigger since they can't see anything became reality that's why its better to move on before getting hurt so much.

1226 days later know that it's a scam? Can you elaborate more about what hurts?

It hurts now knowing later after 1226 days. Nearly 16,000 coin

I see people selling their pis but no one is interested on buying them, where it is actually listed and are there real market on it?

IIRC, there's an exchange that made one copy cat of it for it's trending and that has became popular for a while but it's not the actual pi that these people are mining but it was just an exchange made token with the same name.

Well, with that exchange, it has able to manage to ride on that hype and made lots of money.

That's pretty sad if it managed that they just sold data about the people who trusted in this Pi network. It's just not gonna work, you know? I do a lot of people asking to "buy" the Pi they have generated but all I see with it is a possible scam.

My hypothesis is that core team, like other projects, is waiting for the fomo of the bullish cycle that theoretically comes after the halving. Other projects seem to be waiting for the outcome of the ETFs, before January 10, to see what the market does. It's a real mystery, some talk about selling in the news, others about ATH pre-halving...

If the network has not launched for that long, shouldn't that be enough of a red flag to show you that this is disaster waiting to happen?

At this point, I am not sure how many people wasted their time and resources with a promise that they would become “rich” through pi network and yet today, it hasn't even launched after several months of waiting. I believe some have already cut their losses and given up

The thing is they haven't launched it, so you can't tell if it's scam or not, but I have a friend that have passed his KYC (Know your customer) and have transferred his transferable pi to his wallet,
I also have a friend that sold his pi to someone for a huge amount of money, and was still looking for more to buy, so I think if pi will be something big then that will be in years time, and not definitely this year or next year.

It's hard to accept the truth when you've committed a lot of time on it. Well, time means money so that's a lot of wasted both of it, time and money.

While many were saying that people shouldn't expect anything on it anymore and those discouraging yet truthful words. Still, they're just trying to get something out of it and maybe they can.

I keep seeing a lot of ads on it on social medias and the people that are seeing it are still hopeful that it will be something. Sorry but not sorry to them, they're just wasting time on it.

Lack of knowledge and lack of in depth research would really be always the case on why they would really be ending up on losing money just because of that ignorance that they do have.Its impossible that they wont
really be able to read up other users warnings and cautions of a certain project specially if its a scam because if they would really be tending it to ignore then they would just basically putting themselves on huge risks.Somewhat people never ever learn until they would really be able to experience unfortunate things on which it would really be just that a common approach that there would be projects who do promises out big value or something that pertains about huge profits or income and this is the way that they would be decieving people to invest more specially on this PI coin scam which is obviously a fraud.

Surprisingly, there are people who do turn out to be that interested with this and keeps dealing with it and having the hopes that they would be making themselves rich which is really
that totally absurd.

Such unfortunate situations happens many times, as very few people actually understand what a cryptocurrency is. This is also the reason for which governments try to make people believe that their CDBCs are cryptocurrencies.

Many people simply don't know that a cryptocurrency must have a blockchain, must be issued through mining process and the mining process should be very difficult, in order to make the coin hard to obtain, thus making it scarce and offering it some value. Those which are not educated in crypto are looking for quick profits and have no alarm trigger when they hear unbelievable profits. They simply believe they found the cornucopia, the golden goose, however you want to call it. They are too greedy and naive, at same time.

Some of them also believe in mining with mobile phones (like the naive fans of Pi Network), without thinking that a mobile phone is simply unable to offer such computing power in order to mine a (real) cryptocurrency. Okay, in theory you can mine BTC using a pen and paper, but that doesn't mean that anybody is actually doing that, as it would take the age of the galaxy until solving the calculations necessary for a block. And be sure that, if some other scammers would come up with a coin promising that it will be possible to be mined with a smartwatch or a smart band, there will be many naive enough to bite this bait.

Yeah, i do remember about that Onecoin scam coin too on which its value keeps on increasing as lots of people would be buying it but these coins doesnt have an actual blockchain or being that listed on any exchange

on which it is really just that too absurd that there are people who do believe with these obvious scams and trying out to get themselves blind just because they are seeing that they would make themselves rich?
Yes, it cant really be that avoided on having that kind of feeling and the positivity on which it could create or make because on the time that you would see that you could really be able to have the chance on
reaching out that state then you would really be making yourself that blind and even the worst on making yourself get dumb despite of those obvious red flags.

For sure on the time that legal approach and actions would be applied into its founders then i wont really be surprised that one day they would just vanished out in thin air and would be having
those investors money and leaving them all behind and laughing and having that a good time with those stolen funds.People never ever learn with these stuffs and still continuing to deal up with it.

This is true, but big winnings come with small steps. Similar, maybe it seems without much importance the fact that El Salvador is the first country deciding that BTC is accepted as legal tender, considering that it's a small country, with severe economic problems. But such a movement may determine other countries to do the same step. Coming back, maybe other countries will also decide to take legal actions against Pi Network. Maybe some Asian countries will follow this example. And then, if multiple Asian countries will start such actions against Pi, then countries from the rest of the world may follow.

I may be wrong, but I believe that the initiatives against One Coin and BitConnect were also taken with small steps. The important part is that authorities did not stop and they pursued these scammers until, eventually, they managed to take down these networks (or, at least, they managed to do it almost entirely).

There were many users vocal against such scams and many topics were launched on various forums, for trying to help those naive enough believing in such scams, but all these were not sufficient. In such cases legal actions taken by authorities are really needed.

Unfortunately, that's just Vietnam. I don't want to sound disparaging of them, but they are not the players whose decision significantly resonates in the crypto world. Certainly good news when it comes to Pi trash.


Because of these fraudulent schemes, in the public Bitcoin and the entire crypto are equated with pyramid schemes. Although none of them has anything to do with cryptocurrencies, except that they added "coin" to the name.

This is probably best news I heard from this thread, which was full, for three years already, with naive people believing in this scam, trying to defend it, trying to promote it, trying to explain that Pi Network is actually a good cryptocurrency etc., etc., etc.

Somehow, it reminds me of One Coin and BitConnect. In their cases it also took the authorities a few years but once the legal procedures started they did not end. Curiously, One Coin is still alive in some parts of the world, where their scammers still believe that they can lure someone to buy their lies. The Bulgarian woman behind One Coin is still nowhere to be found. Let's see if the ones behind Pi Network will get caught. Maybe some other countries will also start targeting these scammers.

There will always be a way to deceive people, especially people who did not have basic digital literacy. In this case, even some cryptocurrency users are not even aware of why this particular project has been proven and had a track record of deceitfulness.

One thing I know social media is not their sole channel to spread this project, but they also involve real-life user acquisitions. I do encounter that some people who lack digital literacy are aware of this project and at some point in time are offered to install the application with a promise of easy money. So obviously there isn't any lack of people left that will be offered and invited for this case.