EVERYONE PLEASE GIVE YOUR OPINION ON PI
OKX has faced a wave of criticism when announcing the listing of Pi on February 20, the same day as the mainnet launch. In contrast, the CEO of Bybit declared not to trade this project for ethical reasons.
The event has garnered attention as Pi is a controversial project that has caused significant division. Cryptocurrency investors, citing the superiority of blockchain, do not view Pi Network as equivalent and are skeptical of the 'mining coins with a phone' model. On the other hand, the open-minded group sees it as an opportunity to revive the struggling cryptocurrency sector, which is currently lacking liquidity, notable projects, and where the money is tied up in Bitcoin and 'harmless' memecoins.
However, both sides agree that ethical considerations have been overlooked in the case of Pi Network. The reason is that this project targets the lower-middle-class demographic in developing countries. Meanwhile, the cryptocurrency ecosystem remains complex, with account creation processes, security, and transaction execution not being easy for newcomers. Additionally, participants need to have in-depth financial knowledge.
In the case of Pi Network, experts are concerned that many new traders will be scammed and suffer losses when participating on exchanges.