" PI has been around since 2019 and called themselves the first crypto that you could mine on your phone. All you had to do was download their app put your contact information and the mining would instantly start.
The first thing I'll say about the PI app is that there's No Evidence that this is actually doing any mining whatsoever.
The PI tokens that you are mining are technically just being airdropped to you and actually I'm not even sure "Airdrop" is the right word because you can't withdrawn those tokens.
They're just literally numbers on your screen that are currently worth nothing really.
So why do people continue to believe in PI?
Well because the PI team has promised that they will eventually allow all of those tokens you've collected to be withdrawn. They said it'd be ready in December 2021. But it's now been one and half years since that deadline and still no mainnet launch.
Assuming they do launch, What will happen next?
I predict that there will be a massive run for the exit as 33 Million bagholders all try to sell their holdings at the exact same time. I would be very surprised if the price ended up greater than your average third-rate memecoin.
So is PI a scam?
I think it's right at the edge of the technical definition of a scam. Because they didn't really take their users money. Instead, they took their users identities and not only that. But all of those users have technically been working for PI for the past four years promoting this project for free."
Luis Buenaventura II
link: https://www.facebook.com/reel/481652397480167?mibextid=9drbnH&s=yWDuG2&fs=e
Luis Buenaventura II is a Filipino entrepreneur, software engineer, public speaker, author, and social media influencer. He is known as the founder of Cryptopop Art Guild (CPAG) and Country Manager for the PH Yield Guild Games (YGG).