Pi Network has raised a lot of questions and controversy since its launch. Some people see it as potentially a "pump and dump" scheme due to its model of rewarding users for simply engaging with the app. The key concerns stem from its lack of clear transparency on the blockchain technology behind it, the centralization of control, and the speculative nature of its value once it gets listed on exchanges.
For a "pump and dump" scheme, the idea is that the value is artificially inflated to attract investors or users, who then sell at the peak, causing the value to collapse. In Pi's case, if it doesn't deliver real-world utility or proper decentralization, it could indeed end up like this, where people invest time and effort with little to no return once the network opens up to exchanges.
What do you think about it? Are you holding Pi, or just curious about its potential?