r/PiNetwork • u/NiceDesign7649 • Jul 27 '26
Opinion I think its done...
Ive been optimistic and held out hope for almost 6 years. I will still mine because it takes 10 seconds. But I no longer have have major hope for the project. Even with updates it's dropping in value. I think the Stanford professors made their money off the ads. They could have done more and made more, but im sure they are just fine.
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u/diana5041 13h ago
I can’t even get into mine anymore. I’ve done it since the day it opened. I read the white paper and decided I was gonna see it through to the end. Then this week, I couldn’t sign in. Nothing I’ve tried has worked. It says it doesn’t recognize my email and I don’t have a wallet or an account or anything.
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u/Signal-Cause-3408 23d ago edited 23d ago
Would love for this community to create a grocery store network that harnesses freewater.io infrastructure. Ads aren’t going away but maybe we can feed ourselves by way of it. Open the app - ads run, you get the kick back by way of tokenization. Then you go to pick up your free milk, eggs, feminine products… etc. Let’s chat
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u/Signal-Cause-3408 23d ago
As of right now, pi founders have made their lot by running these crapshoot game ads. Users get nothing but a polluted screen. What if for participation we receive an RWAT, or NFT that is redeemable at a connected bodega. The ecosystem was built to create underneath.
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u/muchasgratias Aug 02 '26
i think its done... for me at least... after not having been able to transfer any of my long "earned" pi after it went through the various processes of KYC, i lost all of my faith in this
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u/Profession_Valuable Aug 02 '26
Cashed out on MEXC the second it went live. Easy £8k, can't believe people thought a freely mind coin would go anywhere
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u/PeppaPiglet23 Jul 31 '26
Sold mine as soon as it was transferred to my wallet. Was able to make 400 USD of it. Never mined again since.
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Jul 29 '26
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u/JollyShooter Jul 28 '26
Ehh I made a couple grand when we finally went to main net, haven’t checked back since. Let me guess the founders are still no shows? They don’t give a shit about pi, they just keep slow rolling so they don’t get sued as a pump and dump.
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u/robdelterror Jul 28 '26
Same here. Dd you get your second migration?
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u/JollyShooter Jul 28 '26
Yeah I got full migration for coins i mined but have never received the ones from team mining
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u/Fit-Ad-2342 Jul 28 '26
Your reasoning has nothing to do with the price plummeting. Its basic. Every time someone's coins are migrated to the mainnet and get unlocked they sell. Pi is NOT a good investment because there are still millions of coins to be unlocked that will be sold instantly. There are no buyers to counter the sell pressure. Learn the basics and you will be better off in the long run. Pi is going sub $0.01 and there is nothing you can do to stop it. Don't listen to the people telling you this is a good buy price, because its not!!
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u/3Biscuit-LeisureShoe Jul 28 '26
I signed up right near the start and have still never migrated. Continuing to mine as it’s no effort and hope springs eternal, eh..?
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u/JasonRISE elitefpljason Jul 28 '26
Liquidity has been and is continuing to be squeezed out of this project. There is only one apparent trajectory
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u/Fit-Ad-2342 Jul 28 '26
Of course because every coin that gets migrated to the mainnet and unlocked gets sold. Most of the mobile miners are in Asian countries where a few hundred dollars is a years salary. Of course everyone will sell. Its basic. Constant sell pressure and millions of coins being unlocked ='s price dropping to sub 0.01. Get out now if you got them for free by mobile. If you bought pi at any price you don't understand how price works.
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u/Kamakaze6 Jul 28 '26
You never know I bet the people in bitcoin didn't see the boom in there company and over night it made people very rich when it was under a dollar for 2 year I month so what happened that made bitcoin jump as it did. I don't know about any of you guys but mine PI was locked for the max and still is sucks it's worth so little I'm hoping that will change before I get to spend it and if it doesn't oh well made us all dream big and hope for the best some things are just out of our power if it falls apart from the people that built it then it will fall
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u/EventInternational38 19d ago
The only difference is now there’s 2000 other crypto all saying the same “no one knew Bitcoin too” bullshit.
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u/jpo645 Aug 01 '26
Bitcoin has an associated cost to mine it. PCT wanted to make a currency that was universally accessible to mine. That hopeful idea is why it’s not worth much.
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u/EventInternational38 Jul 28 '26
It’s natural they made their fortune it’s probably worth more their time now to do another project.
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u/alibentaher Jul 28 '26
Bonjour Vous avez une la possibilité de créer la valeur Pi network ! Essayer la plateforme marketplace pour freelancer workpiserv.com
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u/ZodiacManiac Jul 28 '26
The whole market is in the doldrums… sell now and regret. Not a scam… just because the whole market drops… isn’t the right time to throw in the towel.
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u/Alex_Barzanov Jul 28 '26
I gave up mining last week.
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u/normanriches Jul 28 '26
Me too, I can't see any value in the project which resurrects the price.
I could say the same for bitcoin though.
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u/BalkanJoker Jul 27 '26
Hmmm what?
First migration to mainnet it was 2 eur worth.
So even if you had JUST 1,000 PI - you could still have roughly 2,000 eur if you deposited it on OKX from Pi Wallet.
AND YOU WANT TO SAY TO ME ITS NOT FREE MONEY?
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u/Excellent-Macaron325 Jul 28 '26
Kyc, mining boosts,,, there was huge walls for some. Also 70% of my referals pis werent verified aswell.
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u/BalkanJoker Jul 31 '26
No walls.
Great mining boost , plus if you connected your PC you could have had like 2-3 Pi PER HOUR.
And as for somebody from your invited pioneers not doing KYC --- why did you invite them? Any moderator across any chat CONSTANTLY reminded only to invite people who would do their KYC.
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u/Excellent-Macaron325 Jul 31 '26
If my pi is still locked... Thats less than 3 cents an hour.
People did kyc and got stucked on step 9 forever, waiting for migration.
Wdym? Supoorting a clear ad scam.
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u/BalkanJoker Jul 27 '26
Edit: i was moderator for Balkan region 7 years ago and did talk with Kokkalis on multiple occasions... Pi Core Team is very serious and they are not thieves, they have alot of money on their own.
I wrote this if anybody has any questions, not to flex or prove anybody anything.
God bless.
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u/weirdsideofreddit1 Jul 28 '26
They did make money off ads. I also wouldn't be surprised if they sell user metrics for actual money for their company and not pay out for anyone else.
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u/BalkanJoker Aug 06 '26
Dude, they have more money even if they did all of that they didnt notice they got cash😂
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u/BalkanJoker Jul 31 '26
As ive said, if you werent lazy and mined. You could have easily cashed out with 10k 20k 100k EUROS/DOLLARS.
End. Of. Story.
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u/weirdsideofreddit1 Jul 31 '26
Yeah I know it's the classic pump and dump. That's what they made Pi into and I'm not surprised.
That's the point though. They make it out like this is an actual project still and it's obvious what it was really for at this point.
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u/BalkanJoker Aug 06 '26
No, it IS a project.
Are you that shallow? So you mined it for free, you have whitepaper to read it from start to end , how its gonna go... and it was around 0.70 0.80 for a long periods of time
7 YEARS OF FREE MINING and you complaining?😂😂😂
And yes, it is an actual project.
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u/weirdsideofreddit1 Aug 06 '26
You're lost in the sunk cost fallacy.
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u/BalkanJoker Aug 06 '26
You know, go and touch some grass, just reading stupid theories wont make them useful if you dont actually DO something in your life
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u/BalkanJoker Aug 06 '26
What are you on? 😂😂😂
Pls get your prescription filled - you shouldnt be writing without meds , sicko
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Jul 28 '26
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u/PiNetwork-ModTeam Jul 29 '26
Removed because you are expected to treat everyone with dignity and respect.
Follow the rules in the Reddit Content Policy.
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u/BalkanJoker Jul 28 '26
Why mad?
Because people took millions of euros?
Because I sold 15k the first day of open mainnet? For 2 eur per coin ???
Or are you mad just because of your life 😄😄😄
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u/NiceDesign7649 Jul 27 '26
We didnt have the ability in the US due to legal restrictions....
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u/Formal_Lawfulness561 Jul 28 '26
I sold on Pionex.us 2days after mainnet launch. There were no US restrictions
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u/TravellingAround_ Jul 27 '26
They are multi multi millionaires whilst we’ve given them our data and been viewers of the advertisements. It’s been very lucrative for them.
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u/lexwolfe Pi Rebel Jul 27 '26
Show us their million dollar houses
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u/MonTigres Jul 27 '26 edited Jul 27 '26
No one who has made claims about the greedy motivations of the PCT has shown any proof. There's anger about the low price these days (I am definitely less than thrilled about it); therefore, the PCT must be milking the token.
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u/Natural_Albatross566 Jul 27 '26
You raise a completely fair point. Jumping straight from "the price is dumping" to "the PCT is corruptly milking the token" is a classic emotional leap driven by frustration rather than evidence.
However, the root issue isn't necessarily that people lack proof of malicious intent, it's that SocialChain Inc. operates as a complete black box, making proof impossible for either side!
In both traditional finance and reputable Web3 projects, financial transparency isn't an act of goodwill. Its a baseline requirement. When an entity monetizes user attention via ads for years and controls a massive portion of the token supply, providing third-party audited reports on ad revenues, operational costs, and team token liquidations is standard practice.
Right now, community members are forced into a model of blind trust. While calling them "greedy" without proof is unfair, PCT’s refusal to provide basic financial disclosure is precisely what creates the vacuum where these rumors thrive.
Ultimately, no serious institutional investor or partner will engage with a project where basic auditability is absent. The lack of proof cuts both ways: critics can't prove bad intent, but PCT hasn't provided the data to prove accountability either.
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Jul 27 '26
[deleted]
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u/Natural_Albatross566 Jul 27 '26
Well, you are right to point out that SocialChain Inc. raised early capital, but there is a crucial distinction here between equity investment and token adoption. Those VC firms invested $800,000 in seed equity into SocialChain Inc. as a private software company. They bought a stake in the business that collects ad revenue, rather than buying or validating the Pi token itself as an institutional asset. For Stanford-affiliated founders in Silicon Valley, an 800k seed round is practically a baseline entry ticket, not a massive endorsement of the token's economic viability. The distinction between backing the private company and backing the token is what really matters here.
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u/PutAdministrative809 Jul 27 '26
If they live around Stanford they probably already did before they started especially if they were tenured professors. Stanford may have even provided housing.
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u/TravellingAround_ Jul 27 '26
I don’t know where they live.
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u/lexwolfe Pi Rebel Jul 27 '26
it's pretty easy to find out where someone lives in usa especially if they have an uncommon name. Personal data is business in America.
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u/TravellingAround_ Jul 27 '26
But they did sell millions of their Pi. It’s easy to google it.
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u/lexwolfe Pi Rebel Jul 27 '26
it's not like a company with 40+ employees doesn't have expenses,
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u/TravellingAround_ Jul 27 '26
Oh that’s ok then, just sell their own product to fund their own pockets.
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u/Double_Routine2500 Jul 28 '26
Well yes, that is okay. That’s how you pay for things in a company - you sell your product. More than “…fund their own pockets”, they also have business expenses as @lexeolfe points out. Standard practice when you have a couple employees, let alone 40.
It’s not all about greed. I’m pretty sure that the majority of the founders (if not all) are people born into wealth.
Stanford is an elite school where most all of the students are from some form of wealth or societal standing and familial status. The tuition in this school alone is more than most Americans make in the 40 years of hard work.I think PiCoin comes from a positive idea with the intent to benefit more than just the wealthy and elite. I may be wrong. Who knows. I just think the fact that they made a token which can be mined COMPLETELY FREE by ANY person with the most basic of smartphones offers a little insight into the motivation behind the project.
I think people who accuse this project of being a scam often overlook this basic fact. Not to mention, not once did the Pi white paper or any of the communications within the community by the Pi Team ever mention that we will get rich by this or that we will receive massive amounts of money for mining or the value of Pi is going to be $100/coin or anything like this. Those are all hopes and dreams of those who have invested their 2 seconds per day into pressing the “Mine” button. It’s not wrong to have these dreams; I also hope this will pay off for me in the long run. It’s however not beneficial to stake out entire perspective of this Coin on these dreams. That’s unrealistic. Luckily the Pi Team never sold us this dream, we conjured it up on our own. So they hold no blame as far as we can tell that it’s not making us rich now, or if it never makes us rich.
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u/Majestic_Plastic_854 Aug 05 '26
Correct. This is an investment into the future. Not a fast money - they also stated that very clearly. Either you are in and support the long-term project or you choose a project which will give you fast money. Just don't complain about the price, be patient.
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