Why is there a 'rumor' that Pi Network is being listed? A simple explanation:
1. What is Pi Network?
- Group X creates the 'mining Pi' app. It is exactly like a gaming app.
- Players download the app and play (check in) to be rewarded with Pi created by the app developer. It's like you play a game and get in-game currency as a reward. This money is only for use in the game and cannot be used for anything else.
- Group X encourages players to 'mine Pi' and invite others to play with them. Anyone who refers many people to play (that is, downloads the app and checks in daily) will be rewarded with additional Pi.
- Group X promises players that Pi will be listed on crypto exchanges soon, and it will have liquidity, allowing those who hold large amounts of Pi to sell and become rich, buying houses and cars...
2. How does group X make money?
- Advertising revenue. There are many downloads and the app earns money from advertisements.
- Similar to multi-level marketing. Group X invites group F1, instead of 'mining Pi' by checking in on the app, which takes time, group F1 gets the 'right to buy' large quantities of Pi, e.g., 1 million Pi for 100 million. Group F1 invites group F2 to buy this 1 million Pi for 200 million. Group F2 'has stock' then invites group F3 to buy at 400 million... Group X collects money continuously from the above 'multi-level' system.
3. Why is there a rumor that Pi is being listed?
- Group X earns a lot of money, so they are working hard to run advertisements for Pi to create a trend. Aiming to earn even more money.
- Crypto exchanges during inflation are starving for customers. Since users have lost all their money, the cunning crypto exchanges, called exchange Y, use the following trick to lure more players to deposit money into their platform:
+ They create a financial robot and name it Pi. Similar to an index gold on the forex market. It's just a number, not real gold. The exchange deliberately names it Pi to make people think it's the Pi Network of group X. And they think they are about to become billionaires + promote the exchange. Many people will learn about exchange Y through the advertising campaign as described above.
+ The Pi from exchange Y skyrockets in price after its appearance, attracting many people to comment, like, share... At this point, there are no buyers or sellers, so exchange Y can set the price of their Pi however they want.
+ Exchange Y partners with group X to 'advertise' for their Pi.
- Game over:
+ The cunning crypto exchange Y attracts a number of new players to deposit money into their exchange to buy their Pi (which is not the Pi from group X).
+ Once exchange Y collects money from players, the Pi from exchange Y will drop in price, wiping out accounts, and exchange Y pockets the money from those who are naive, then goes out to drink.
+ In the end, only group X and exchange Y become billionaires. Meanwhile, the fans continue to work as employees, driving for Grab... and continue to dream their dreams.
There are still people selling Pi for items from the Pi they created or something, if it's real, but Pi holders should take the opportunity to sell when the price is good instead of holding out for it to be listed and become billionaires.
