Recommended
English
Dark Mode
Register
BTCCNewsEvents

Pi Network’s Silence on Mainnet Worries Users, Scams Continue: What’s Next?

By:H, Jessica
Last updated:08/08/2024
Why Trust BTCC
BTCC, a seasoned player in the cryptocurrency sector, has established a solid foundation of credibility through its over a decade of platform operation and profound industry experience. The platform boasts an experienced team of professional analysts who leverage their keen market insights and profound understanding of blockchain technology to offer precise market analyses and investment strategies to users. Furthermore, BTCC adheres to rigorous editorial standards, ensuring that every report and analysis is fact-based, striving for objectivity and fairness, thus providing investors with authoritative insights they can rely on. In the rapidly evolving cryptocurrency market, BTCC stands out as an indispensable partner for numerous investors and enthusiasts due to its stability, professionalism, and forward-thinking approach.

Pi Network's Silence on Mainnet Worries Users, Scams Continue: What's Next?

As Pi Network claims to be nearing its mainnet launch, one crucial detail remains undisclosed: a concrete launch date. The Pi Network team has maintained a consistent silence regarding this matter, sparking speculation and dissatisfaction among its community members. It seems someone ought to advise the team that attempting to cultivate an aura of mystery is not enough; they also need to provide clarity and transparency. 

Furthermore, the unresolved issue of the grace period has left users uncertain about the timelines and procedures for network migration and coin utilization, adding to the prevailing confusion. Nonetheless, despite these significant omissions, the team’s communications have primarily revolved around KYC (Know Your Customer) verifications and migration updates, while skirting larger questions about the platform’s long-term vision.

Inadequate Scam Warnings: Is This a Growing Problem We Should Be Concerned About?

Recent tweets from the Pi Network community have exposed a concerning trend: the escalating number of scams aimed at Pi Network users. 

A tweet from ‘@pinetworkmember’ sounded the alarm on bogus validation sites and fraudulent peer-to-peer transactions, emphasizing the need for constant vigilance among users. Another tweet drew attention to a counterfeit Pi Wallet interface, highlighting the scammers’ relentless efforts to mislead the community. Although these grassroots warnings are crucial, the Pi Network team’s silence on this matter is noticeable. Despite the urgent security issues, the team seems more focused on promotional activities and educational events. For example, a Pi Network-related account tweeted about an Indonesian tourist spot accepting Pi as payment. 
Additionally, the Pi Core team is promoting an “August Art Festival” to educate newcomers about the Pi Network. In light of the growing security threats, it’s imperative for the Pi Network team to prioritize addressing these scams to ensure a safe and secure environment for its users. The community’s vigilance and awareness are key in combating these fraudulent activities, but official action and guidance from the Pi Network team are urgently needed.


The lack of direct communication about scams poses significant challenges. It renders users defenseless, particularly newcomers to the network who are more susceptible to falling victim to these deceitful schemes. The absence of guidance or warnings from official channels creates a void of information, which scammers eagerly exploit. 
Furthermore, the team’s emphasis on promotional content over crucial security updates suggests a misplaced sense of priority. While user expansion and education are undoubtedly valuable, the utmost importance should be placed on ensuring the safety and security of the community. Neglecting this scam issue not only threatens to undermine trust but also tarnishes the platform’s reputation. The community’s frustration is evident, as they seek reassurance and tangible measures from the team to safeguard their investments and personal data. The silence regarding security issues, coupled with the uncertainty surrounding the mainnet launch date, only serves to heighten the doubts and skepticism plaguing the Pi Network.

BTCC APP DOWNLOAD


Download App for Android Download App for iOS

PI Coin Price Steady, Unaffected by Market Fluctuations

In recent days, the crypto market has witnessed a significant crash, resulting in millions of dollars in losses for several tokens. However, amidst this widespread market turbulence, the Pi Network token has demonstrated remarkable resilience, barely budging from its support level before resuming its sideways movement. This stability is intriguing, considering Pi’s mathematical constant nature, and it appears that the Pi Network token’s price is on a path to emulate this constancy.

The PI to USD conversion rate has remained consistently range-bound, exhibiting a near-constant behavior. Many traders have speculated wildly about the potential prices of the Pi Network token, but its price action has proven to be remarkably steady and uneventful. Even its trading pairs with other currencies, such as the PI INR pair, have shown little fluctuation.
Looking ahead, if the Pi Network token price manages to break out of its horizontal trend and embark on a rally, it will encounter resistance around the $40.3 and $43.6 marks for the PI USD pair. This stability and potential for growth make the Pi Network token a compelling option in the volatile crypto market.

In summary, while the broader crypto market has experienced significant losses, the Pi Network token has maintained its composure, hinting at a possible upward trajectory in the future. Traders and investors alike are keeping a close eye on this unique token, anticipating its next move in the ever-changing cryptocurrency landscape.

Conversely, a downtrend could push the PI coin price to test support levels close to $36.5 and $34 before a potential recovery. With a daily RSI score of 46.82, the PI coin remains in a neutral position, indicating a possible shift in market sentiment. Keep an eye on these key support levels and the RSI for clues on future price movements.

Register now to begin your crypto journey

Download the BTCC app via App Store or Google Play

Follow us

Scan to download

Pi NetworkMainnet LaunchUser ConcernsScamsInadequate Scam Warnings

Exchange for a better future

SecurityMetrics Credit Card Safe
Products
Services
Guides
About Us
Terms & Agreement
    Customer Service

    Quick Links

    Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

    The world’s longest-running cryptocurrency exchange since 2011 © 2011-2024 BTCC.com. All rights reserved