The Pi Network appears to have done what few crypto projects manage to achieve: capture the imagination of everyday consumers.
But what exactly is the value of Pi cryptocurrency, and is there any prospect that this is a scam? Is it possible to make a price prediction of Pi coin ahead of its launch? Here, you will find everything you need to know.
Is Pi cryptocurrency legit?
The Pi Network’s official website claims that its goal is to ensure that no one is left out of the cryptocurrency revolution, pointing out that mining cryptocurrency is hard and investing in it can be even riskier.
According to the project, it enables anyone to mine crypto on their phone without draining their battery. Accordingly, there is now frenzied speculation about what Pi coin’s value may be in the future. But Pi coin projections are tricky without all the right data.
There are several different roles within the project’s ecosystem. Everyday users who have downloaded the mobile app are referred to as Pioneers and are expected to confirm that they are not a robot on a daily basis by signing into the app. Ambassadors introduce others to the Pi Network, and this unusual format has prompted accusations among some that the project is using tactics often deployed by multi-level marketing schemes. Nodes refer to those who use the app and run node software on their computer.
But here’s the one thing that makes it difficult to make a Pi coin price prediction: the cryptocurrency isn’t actually live on an exchange yet. To compound the problem, the mainnet hasn’t even launched. So where to next for a Pi network price prediction 2021?
Will Pi be worth anything?
At this stage, we can’t answer the question of will the Pi Network value be worth anything.
The project says that, when it first launched, the base mining rate stood at 1.6 π an hour – halving to 0.8 π once 100,000 users were onboarded. A further halving to 0.4 π an hour followed when 1 million users started using the app, and the latest slash to 0.2 π an hour came after its user base swelled beyond 10 million.
In May, the Pi Network claimed on Twitter that it now has more than 18 million Pioneers on board and encouraged them to “mine at a higher rate while they can”. It is expected that the next halving to 0.1 π an hour will occur when the mainnet launches (the date for that remains unclear); should Pi ever reach 1 billion users, the reward will fall to zero.
Is Pi coin safe?
As we mentioned, some analysts making Pi coin predictions aren’t necessarily worried about the Pi Network value; they are more concerned about whether this project is a scam.
Some of the most optimistic Pi coin price predictions tend to come from those who have downloaded the app; some have suggested that a single Pi could be worth anywhere between $10 and $100 right now. However, there’s absolutely no evidence to back this up, and the team behind the Pi Network hasn’t released much information on the project’s progress. A concise Pi coin price prediction for 2021 is much sought after.
The Pi Network appears to be especially popular in Southeast Asia. However, blockchain experts speaking to the Vietnamese publication VnExpress have cast doubt on the crypto platform’s legitimacy – not least because users don’t have access to their private keys.
Blockchain expert Dang Minh Tuan, from the Posts and Telecommunications Institute of Technology, said that, unlike many other networks, Pi appears to lack transparency. He added:
Adverts were also recently added to the Pi Network’s app, suggesting that the software’s main motivation could be monetising the millions of users who have downloaded it.
Another issue concerns the data that someone needs to give up when they download the app, including their full name, phone number and Facebook username. Tuan warned that it’s possible that other forms of data could be stolen from a user’s device. Alarm bells have also started ringing that this may be a pyramid scheme based on the fact that new users can only join if they have a referral code from an existing Pi user.
Does Pi Network have a future?
A Pi Network price prediction for 2021 will be easier to make if the mainnet ever launches, and if users end up receiving the cryptocurrency that they have been mining. Until then, we are going to have to wait and see the full Pi coin value. This is meant to happen,when Phase 3 makes its debut.
Unlike the myriad other blockchain projects, there is very little information about Pi Network online, including on crypto news sites.
Of course, there is a chance that we could be proven wrong about Pi Network: that it will launch, that users will get their coins and that the cryptocurrency will have substantial value. The project has an appearance of credibility based on how it was founded by graduates from Stanford, a prestigious university. Crypto projects have surpassed expectations before, but it is also a sector that is dominated by rugpulls, scams and pyramid schemes, as seen with the collapse of OneCoin. Some estimates have claimed that up to $19.4bn may have been stolen by the time OneCoin went under, and dozens of people ended up being prosecuted
How much will Pi crypto be worth in 2025?
Just to stress once again, we cannot estimate a Pi coin value or make a Pi coin price prediction for 2025 because the cryptocurrency hasn’t been listed anywhere yet, meaning it is impossible to perform technical or fundamental analysis. Take any Pi coin price prediction you do come across with a pinch of salt, because there is not much trustworthy information to underpin it – the price of Pi coin remains to be seen. Time will tell the real price of Pi coin for 2021 if it happens, before even looking at a Pi coin price prediction for 2025 or a Pi coin price prediction for 2030.
While looking for a prediction of Pi coin, remaining vigilant for scams is crucial and, although the Pi Network is free, you shouldn’t discount the possibility that the project isn’t benefiting from its users in other ways.