which only benefit the developers!
The Pi Network promotes itself as a "revolutionary" digital currency that allows free mining via phone, but the reality is quite different. Since its launch in 2019, it has gathered over **33 million users** (referred to as "pioneers"), but there is no evidence that these users will gain any real value from the currency. Here are the alarming facts:
### **1. Free mining... but useless!**
- Users are required to "mine" Pi daily through the mobile app, but the currency is **not tradable** yet. Unlike Bitcoin, which can be sold or bought, Pi has been confined to a "test network" for years.
- Developers promise the "mainnet launch" to free the currency, but they keep postponing it, while continuing to collect user data and attract more miners.
### **2. How do the developers benefit?**
- **Selling ads**: The app displays ads to users, while they receive no financial return. The team profits from these ads, while the "pioneers" work for free as marketing tools.
- **Unlimited inflation**: Since there is no cap on the number of Pi coins (unlike Bitcoin, which is limited to 21 million), its value could collapse if officially launched due to the enormous mined quantities.
### **3. The "Know Your Customer" (KYC) Trick**
- To withdraw your Pi balance, you are asked to undergo a **KYC** (identity verification) process, which may be used to sell your personal data or exclude you later under the pretext of "ineligibility".
- Even after verification, there are no recognized exchanges accepting Pi for trading, making it worthless in the real market.
### **4. Comparisons to fraudulent schemes**
- The Pi model resembles **multi-level marketing (MLM)**, where users are asked to invite others to increase their "mining rate", while the promoters benefit only from the illusion of "future gains".
- Some compare it to a **Ponzi scheme**, but with a difference: victims do not pay money directly, but offer their time and data without guarantees.
### **5. Why does it still exist?**
The development team (allegedly Stanford graduates) exploits:
- **User ignorance** about real cryptocurrencies.
- **Miners' hope** to replicate Bitcoin's success, even though Pi lacks decentralized technology and transparency.
**Conclusion:**
Pi is not a real cryptocurrency, but a **mysterious project** that sells an illusion. The developers are the only ones profiting (from ads and user data), while the "pioneers" await money that may never come. Beware of being lured by shiny promises without tangible evidence!
> "If something seems too good to be true, it often isn't!"
#Fraud_Warning #Cryptocurrencies #شبكة_باي