Reddit – Dive into anything

Pi coin is a scam that benefits its Stanford-educated founders. First, Pi Coin is not a new cryptocurrency. For one, the Android app was published in December 2018. Four years later, Pi holders cannot do anything with the app. In contrast, many cryptocurrencies like Aptos, Cronos, ApeCoin, and SweatCoin were launched this year.

Second, Pi Network is already making money through the adverts it shows on its platform. All these funds are going to the creators of the platform.

Third, it is still unclear when Pi will be listed in exchanges. A likely reason why the developers have not pushed it to exchanges is that they are already making money through ads. As such, listing it in exchanges could disrupt this revenue. 

Also, as we saw with Sweatcoin and StepN’s GMT, a listing could push insiders to sell their tokens and run for the exit. Therefore, I believe that Pi Network will not make you rich in 2023. Some analysts believe that it is similar to OneCoin, the pyramid scheme that was led by Dr. Ruja Ignatova.