An account holder named Hoang Phuong posted in a Fb group with over 200,000 members in late June: “I’ve misplaced religion within the Pi Core Workforce. For many who nonetheless play, good luck. I am deleting the app.”
Many customers agreed.
Thanh Huy wrote in a remark below the submit: “I additionally deleted the app from my cellphone. Six years is just too lengthy for a cryptocurrency venture.”
Vi Anh wrote: “Different initiatives with the identical mannequin have been available on the market for a very long time, whereas Pi continues to stay an empty promise. The Pi Core Workforce simply needs to earn money from commercials.”
On June 28 the Pi staff reported having 60 million customers, with 12 million efficiently finishing their id verification (KYC), up from 9.45 million on March 14.
The staff reiterated the necessities for an “open mainnet” — the place customers can commerce Pi with different cryptocurrencies — like finishing the open community when it comes to expertise, product, enterprise, and authorized features for Pi and obtain the KYC objective.
However it stated it will take a very long time to realize these necessities.
“We management the Open Community launch date. That lets us keep away from launching at a time when world components may hurt crypto and conventional enterprise ecosystems. Whereas we do not anticipate any such occasions at present, we can’t ignore them, both. We’ll work to make sure our launch is timed for one of the best outcomes for the community,” it stated within the June 28 announcement.
The platform additionally launched a function to lock Pi within the mainnet pockets for a number of months and longer.
On social media, many see this as a “stalling” tactic by the staff.
In the meantime, what they most stay up for – with the ability to commerce Pi with different cryptocurrencies – has not but turn out to be doable.
Actually, over the previous yr the Pi Core Workforce made a minor adjustment within the software.
However Nicolas Kokkalis, thought-about the mind behind the Pi Community venture, has not appeared within the media for over three years.
Knowledge from SimilarWeb, a global software program growth and knowledge aggregation firm specializing in internet analytics, internet visitors and efficiency, reveals that in June Vietnamese had been solely fourth within the variety of guests to minepi.com, down from their constant first or second rank for years and a 46% decline in three months.
Nonetheless, there are nonetheless those that say they proceed to help the venture, because the Pi Core Workforce made one other promise when saying that “Pi2Day 2024 [which means March 14, 2024] marks a necessary milestone for Pi Community—it’s the final Pi2Day earlier than we launch Open Community!”
A consumer, Huy Tin, wrote on Fb: “Pi Community is a long-term venture. I consider this yr could be the final for us to attend for the open mainnet.”
The Pi Community was launched in 2019 and marketed as permitting customers to personal the Pi cryptocurrency without spending a dime by checking the app day by day.
Hundreds of thousands of customers are nonetheless ready patiently, saying they don’t lose something by doing so.
Dang Minh Tuan, a blockchain knowledgeable, identified nonetheless: “Customers will lose private knowledge similar to identify and cellphone quantity, waste time and cellphone sources, exert efforts to recruit others, and should lose further data on their gadgets.”
In June 2023 the Ministry of Public Safety stated it had coordinated with native police to research the cryptocurrency.
In line with a ministry spokesperson, it confirmed indicators of recruiting individuals in a binary, multi-level advertising mannequin, and so they need to be cautious about being lured into high-profit cryptocurrency schemes.
