The Pi Network has become a popular platform in the blockchain industry, even though there are significant concerns about its ecosystem and use. Its number of users has grown rapidly worldwide as they wait for the listing of the cryptocurrency. Therefore, at this stage, it is impossible to make a Pi coin price prediction since the developers admit that the current value of the token is zero.
Is the Pi Network real?
Last week, the founder of Dogecoin issued a controversial statement in which he argued that 95% of all cryptocurrencies were a scam. To a large extent, his statement was correct. In fact, some analysts believe that the figure is more than 95% since we now have over 20,000 cryptocurrencies, according to data by CoinMarketCap.
In previous articles, I have made the case that the Pi Network seems like an outright scam on the scale of Dr Ruja Ignatova, the founder of OneCoin. For one, the network has grown to reach more than 35 million people or pioneers as they are now known.
The developers, who are ex-Stanford University graduates, promises users that their current “cryptocurrencies” will be worth much more when the coin hits the market. As a result, these users have given the app excellent ratings in both Android and iOS ecosystems.
Is Pi Network worth it?
Still, there are challenges to the coin’s future. First, it seems like the process is taking longer than expected to be listed in exchanges. Since it was started in March 2021, it means that original users of the platform have used it for more than 15 months. As a result, it is still unclear when and if the coins will be listed.
Second, even if the Pi Network token has value, there is a likelihood that it will lose value if brokers list it. As expected, most people who hold it will sell, which will create huge selling pressure. As a result, the panic will push the price sharply lower shortly after that. Third, it is unclear whether the developers will get access to more advertisers in the future because of its business model.