- Summary:
- The Pi Coin network growth has been one of the most fascinating stories of a cryptocurrency project that has stalled to launch for years.
The Pi Coin network growth has been one of the most fascinating stories of a cryptocurrency project that has stalled to launch for years. Today, the project boasts of having over 30 million active users who majorly mine their holdings through their mobile phones.
Unfortunately, depending on which side of the fence you are on, the millions of Pi Coins held today are not worth anything. For the past few years, Pi Coin has had many failed launches, which understandably has become frustrating to most of its holders. However, millions still hold out hope that one day, the Pi Coin network will be launched, and their holdings will have value.
Is Pi Coin a Scam?
The existence of the Pi coin has continued to baffle many in the cryptocurrency industry. Despite the project not having any monetary benefit, millions of crypto enthusiasts are still mining the coins and are active in communities. To many, the question of whether the project is a scam does not cross their mind.
For starters, they argue that the project does not require them to put their own money into mining the crypto, which is true. The platform only requires users to have a mobile phone. Once they create an account with the platform, they can start to mine the cryptos using their phones.
Secondly, holders of the cryptocurrency also argue that, despite the argument that Pi Coin does not hold value, it will be launched, and these holders will be able to benefit. Late last year, there were rumours that the Pi coin would be launched in the second half of this year. However, looking at the information available now, the launch will likely not happen.
The other reason most Pi Coin holders use to justify their continued use of the platform is that the platform does not sell their data. Currently, there is no verifiable report that the platform sells its clients’ data to third parties or advertises on the platform to stay afloat. Therefore, many indicate that, if they were scammers, they would be looking for ways to monetize their 30+ million active users.
Pi Coin Price Prediction
Having looked at why many users believe the Pi coin network is not a scam in the section above, the reality still remains that the Pi Coins are currently not worth anything. There is also a high likelihood that the project will never be launched.
Therefore, it is difficult to speculate on such crypto assets. For now, I can only say that I expect the project to remain worthless until it is finally launched.