This PI thing keeps getting more interesting.
Last week I explained how the PI Core Team possibly holds 1/3 of all liquid PI.
They are so liquid that, without a clear burning process, 10 million liquid PI just disappeared from the market at the hands of the PI Core Team (PCT).
Previously, I explained how NOT Decentralized PI Network is....
And both seem to find more and more proof. After Bybit CEO Ben Zhou called it a scam last month, we now have another CrypVIP pointing out the same.
Justin Bons, Founder & CIO of Cyber โโCapital, recently called it a scam, pointing out flaws in its technology, tokenomics, and centralization. Bons highlighted Piโs reliance on Stellarโs โโtechnology, lack of decentralized finance potential, and Ponzi-like mining structure.
1/9) WARNING: PI is a straight-up scam! โ ๏ธ
Offering an "MLM" based "mining" scheme on mobile is a gimmick, as it does not contribute to consensus!
PI is fully permissioned (centralized) & everything requires KYC, even simple TX's!
PI is an investment scam; it is that bad: ๐งต
Justin Bons (@Justin_Bons) March 19, 2025
In addition, a Reddit post asking, โWhat is a SuperNode?โ got a vague responses from the team, only highlighting their technical role without explaining how to participate.
Seems Supernodes are not available for Pioniers....
During the testnet phase, Pi Network had only three SuperNodes, all managed by PCT. Talking about being centralized, now with the main net, there are 42, but they seem to be more for show....
Then there is that Binance thingy....
PI Peeps all voted to be listed...so far they did not. The craziest of stories are flying around like Binance asking 50 million for the listing.
Binance wants money without issues, so when PI was ranked #11 there was money to be made...
Binance would list a top coin like that for free....if they were sure it would not cause trouble down the road.
PI People are now getting annoyed with Binance and many point out that it is important to support projects with strong fundamentals like PI over meme projects with no utility.
- Many one-star reviewers accuse Binance of "tricking users into depositing money to vote for Pi," "disrespecting the Pi Network project," and "exploiting Pi supporters' trust."
The thing is, PI is not much different than a meme coin, I mean I said that before as well.
Itยดs a community-driven coin with no use case and no clear tokenomics.
The peer-to-peer trading it entails can also be done with DOGE or SHIB.
The real reason it did not get listed after the poll on Binanceโs โVote to Listโ campaign got 86% in favor was because PI has itยดs own Blockchain.
Many PI People really expect Binance to list their token, but no one from the PCT ever told them that it would not... instead they fueled the hype, and then rejection is a slap in the face.
As Binance was the only positive thing short term, we saw massive sell-offs start, so I did some TA:
Then I found something in the chart:
Of course, some people see the upside...
Now, to be honest, the one-month chart...basically, since the go-live shows a clear trend.
The trend tells me I am looking at an overhyped shitcoin...
The data tells me, if people get free tokens for tapping their phone and calling it:
MY TA tells me I would sell with MOFO speed because itยดs free money...may the fools be with you.
Or maybe I miss the true PI Spirit:
Or Maybe NOT
This is what you should have done...
Lucky most sold before the 21st as they saw this coming:
100 million token unlock, and if you remember what I said about current liquidity last week.... adding 100 million to a 600 million liquidity will dump the token if there is no use case... and itยดs free money!
Because 63% is locked up...these poor PI People see the price dump and know that all their PI will be worth....
But it gets worse.... April: Unlock 115 million tokens, May: 182 million PI tokens get released, and in June: 222 million.
How is that for some extra selling pressure?
Try, try, try...try to see why to buy PI?
I mean the only thing that PI Peeps come up with is----do what BTC did 6 years ago:
Oh right crypto casino.....that is new:
This community thinks they invented the wheel, which actually happened already before you were born.
The gullibility of humans with dollar signs in their eyes is scary. People keep believing that their PI will hit the SKY and moon in 5 years.
I keep being reminded of that other great community token with a lousy team that never created a true use case or thought about real tokenomics....
Let's look at 5 years of XTM:
There is very little happening to rebuild trust, there is a PIDAO community plan.
To make PI great again, or at least more transparent, but if you need that, you are already lost...this is blockchain, transparent should be your middle name.....
Secondly, the DAO might settle some community nerves it will not attract any new investors.
Or does it:
Well I think somebody just bought a whole lot of nothing there...but hey I am no expert. I don't do advice, NTFAFB, or rather; never take financial advice from a baby.
My Curiosity Into PI Network is purely professional, I had my doubts since I investigated the Network 5 years ago and now with this Mainnet launch I just had to follow this journey....
Am I watching a train wreck that is ready to happen, or was I wrong all the time?
Thank goodness you made it till the end Pees, Love and I am out of here!
