General questions and answers about the Pi Project
Q: How many people actually received PI tokens?
A: Only about 15% ~ 12 million accounts can sell Pi, most of which belong to phone farm farms.
Q: After 6 years, how many people have not received any PI tokens from the project?
A: 53 out of 65 million accounts have not received any Pi tokens because Nicolas and Cfan deliberately blocked step 9. They will not be able to sell Pi for at least the next 5 years.
Q: When will more than 50 million blocked accounts by Nicolas receive PI tokens?
A: At least not before 2030. Nicolas is preventing them from selling billions of Pi into the market.
Q: Step 9 in the Mainnet states that Pi will be transferred to wallets 14 days after KYC, but millions of people still haven't received anything since 2022?
A: This is Nicolas's strategy to limit the circulating supply and force users to buy Pi on exchanges to KYC through Banxa.
Q: Why does Nicolas still have the ability to retrieve Pi from users' wallets even though Pi has been listed on exchanges?
A: Because Pi is currently in the open network phase, not the mainnet phase.
Q: How many Pi tokens can Nicolas fully control?
A: 35 billion Pi. 20 billion are held by the team across 10,000 wallets and 15 billion are earmarked for the ecosystem – none of these wallets require KYC. Nicolas can sell them at any time.
Q: Why do orange-labeled accounts continuously fail KYC despite trying multiple times?
A: The auxiliary verification system is not working. Even after hundreds of attempts, they still cannot pass.
Q: Is it true that some users from 2019 still haven't received their KYC slots?
A: Yes. If they change phones without logging out, they will lose access to KYC.
Q: Why are some users of Clone App Pro able to KYC hundreds of fake Pi accounts?
A: Because Clone App Pro can change the device's ID and IMEI.
Q: Is Pi's KYC process as effective as Nicolas claims?
A: No. The AI-based KYC system has been bypassed. Many people use fake/Photoshopped documents and one face can successfully KYC thousands of fake accounts.
Q: What will happen if Pi Network implements the POH system like LayerEdge?
A: With level 2 KYC as on exchanges, it only takes 10 days to verify 55 million accounts.
Q: Have the 100 Dapps that Nicolas promised for 2024 been launched yet?
A: No. They are all scams. As of April 2025, no Dapps have been released.
Q: On April 25, 2025, Nicolas stated that thousands of stores now accept payments with Pi. Is this true?
A: No. That post is entirely fabricated. These stores are virtual and no one can actually use Pi there due to legal issues. Using Pi for payments could lead to arrest and imprisonment.
Q: I see users on social media trading goods with Pi. Is that true?
A: No. These are staged posts to attract followers or promote referral codes.
Q: What is the Pi advertising network that Nicolas mentions?
A: Nicolas has turned 65 million users into an advertising platform to generate revenue from ad views.
Q: Is bidding for the .pi domain with major brands a violation of intellectual property rights?
A: Yes. Without the brand's permission, you can be sued and fined.
Q: Does the project team use internal wallets to bid for the Pi domain?
A: Yes. Domains like amazon.pi and samsung.pi have been seized by anonymous internal wallets with tens of thousands of Pi, which cannot be tracked on the browser.
Q: Does Nicolas hire KOLs (influencers) to promote Pi on social media?
A: Yes. They post statements like "Pi = $314" or "Pi will replace Bitcoin" to exploit people's greed.
Q: Why are the posts from the Pi Core Team on platform X vague and lacking clear timelines?
A: To retain users and continue watching ads within the Pi app.
Q: Why hasn't Nicolas held an AMA or posted on his personal page in years?
A: Because he fears exposure, which could cause the project to collapse.
Q: Why do exchanges like Binance, Coinbase, and Bybit refuse to list Pi?
A: Because they realize Pi is a scam project.
Q: Do investors make profits when investing in Pi?
A: No. Their assets could lose 100–1000 times if all tokens are unlocked. Currently, 1.7 billion Pi tokens are unlocked, but only 1/10 is in circulation. Full circulation will crash the price.
Q: How much revenue from ads has been generated in the past 6 years and how is this money used?
A: Nicolas has earned $300–500 million from ads, and this money is used to create fake liquidity for Pi.
Q: Is it true that 80%+ of Pi miners come from poor countries like Africa, Laos, Cambodia, and Vietnam?
A: Yes. Developed countries have very few participants, making it easier for Nicolas to exploit the desire of the poor to get rich quickly.
Q: What is the future of Pi... the vision for 2030?
ONE:
Nicolas will continue to block more than 50 million accounts from receiving Pi.
He will continue to make misleading promises.
He will sell all the Pi he holds.
Millions of people will continue to watch ads daily.
The vision of Pi becoming a global currency (as stated in the white paper) will completely fail.
Conclusion:
This is a perfectly designed Ponzi scheme that has lasted for years, primarily aimed at profiting from users viewing ads and forcing them to buy Pi. Nicolas is the only one benefiting from this project.