The cryptocurrency Pi Network generates divided opinions, but many consider it "the most rotten" or one of the worst in the ecosystem for several concrete reasons. Here they are straightforward:
🧨 Why many consider Pi the most rotten of the cryptos:
1. 🚫 Not listed on real exchanges
Years after its launch, you still cannot freely sell Pi on Binance, Coinbase, or similar platforms. It is only traded on parallel markets or P2P without guarantees.
2. 🔐 Total centralized control
The Pi team maintains absolute control. There is no open source code or fully decentralized network. Everything goes through their servers, zero transparency.
3. 📱 Fake "mining"
You say you "mine" by pressing a button daily, but that is not real mining. There is no block validation or energy expenditure. You are just playing at mining.
4. 🤡 Referral model resembling a pyramid scheme
They give you more Pi for inviting people, which reminds one of Ponzi models. It has become more of a viral app than a serious project.
5. 🕵️♂️ Suspicious use of data
It asks for too many permissions. Some accuse the project of using it as a collector of personal data for uncertain purposes.
6. 🧻 Fictional value
Some users sell Pi for local currencies, but they set the value themselves. The market is artificial and lacks real liquidity.
💀 In summary:
Pi is neither a functional nor decentralized crypto, and although it promises a lot, it has delivered almost nothing. Many see it as a marketing app disguised as blockchain.