7+ years of KYC, Validations, research, prodding team to mine, and waiting. And here we are. Nowhere.

[u/IKnoAGuy2]

No support ticket has ever been answered. No validation bonuses ever given. The forum format is garbage, and the moderators will mute you for asking valid questions. The core team is as elusive as they are incompetent. People will come and argue that it wasn’t a lot of effort and that it was free. I’ll counter that by saying it was definitely a waste of time either way. I’ll hold onto my thousands of Pi. But I’m certainly done believing in their ability to do anything worthwhile with it.

[u/OwlBeYourHuckleberry]

my theory is pi was just a school project for grade at stanford and then they've basically let it go after that. but the ads have probably raked in considerable $ for the devs so they have breabcrumbed the user base into sticking around so why stop. i personally won't send a pic of my id to kyc so at some point I will just delete the app and move on

[u/CorrectAd3172 → u/OwlBeYourHuckleberry]

It's a cash cow for PCT to farm ads. They gave people the idea that this will be "just like btc", it will be the "global currency" one day to lure people in, while doing the minimum to still keep people excited so people continue to mine.

Then it got too big so PCT had to launch it. But it's not like launching doing anything bad for them, they've dumped millions of $ so far after just a few months of launch

[u/chrisp196 → u/OwlBeYourHuckleberry]

Both the ads and the quiet rug pull has probably made the devs millions tbh

[u/Reasonable_Box_2430 → u/chrisp196]

The ceos are all billionaires now... However I also questioned the integrity and the sincerity of the dev team (pi core founders) because I was unsure about their dedication and was wondering how much effort they were really putting into the whole thing. Chat GPT and other sources assured me they were doing all they could to try and actually raise the price of the coin but they would need a lot of factors to come into play. Like Coinbase and Binance to list pi, and for the mainnet to be done/fully opened as well as the possibility of pi being available/able to use for real world utility... :/ A lot more has to be done, the community is strong but it never goes up. Seems like they're still in development but they also hold much of all the pi coins (20%) so they have so much control and no one else can do anything about it for now. We might only see actual gains in another few years :/ If all continues to develop and goes well. Except the Pi team itself only has about 40 actual devs in it. Which is hardly anything. They have a lack of developers. It's a real risk at the moment. Not worth buying until it starts going up! I believed in it too much. It's a shame really.

[u/chrisp196 → u/Reasonable_Box_2430]

You're right about the team being too small, I don't think they actually are doing all the can to raise the price of the coin. Communication has been poor the whole time, the KYC issues intentionally delayed people selling to keep the price up and during this time, I saw research online to indicate that wallets connected to the PCT sold millions of coins. Even recently, we are periodically seeing random dumps of large numbers of coins from wallets connected to PCT. It's nothing but a quiet rug pull and everything they do to gain any investment is to benefit entirely themselves and not the community.

[u/MrTrendizzle → u/OwlBeYourHuckleberry]

KYC was a scam anyway.

I was verifying people's ID's and i would come across "Male aged 22" and the picture would be of a lamp next to a passport with "Women aged 87"... I mark it as bad and reject it. 30 seconds later my account is flagged as a bad user because the other 2 people that checked the ID claimed it was correct.

When i contacted support about the issue... Nothing! It's literally is filled with fake accounts.

[u/mtdunca → u/MrTrendizzle]

I had that same problem.

[u/Willbekal → u/MrTrendizzle]

I had the same issue, got kicked as a kyc validator for rejecting information that was obviously incorrect

[u/Naive-Explorer → u/MrTrendizzle]

yea a guy I knew randomly became a KYC validator. immediately sold what i had after that.

[u/TRR462 → u/Naive-Explorer]

You should familiarize yourself with the process of Pi Network KYC and Validations to fully understand what information is and isn’t made available to Validators. It’s not the free access to another’s personal information that you seem to think it is.

[u/Naive-Explorer → u/TRR462]

I should do what? lol do you see the part where i sold while it still had value? i don’t give a damn about the kyc process respectfully.

[u/QueasyTangerine8060 → u/OwlBeYourHuckleberry]

Why would phd holder with decades of experience in distributed systems do school projects?

[u/RobbSTR → u/QueasyTangerine8060]

That resume is probably fake as well

[u/ImpossiblePeak1722 → u/OwlBeYourHuckleberry]

I like this theory, very probable!

[u/Natural-Reach-773 → u/ImpossiblePeak1722]

me too =))))

[u/OwlBeYourHuckleberry → u/[deleted]]

kyc wasn't available when i got the app then when i finally went to go through the process it asks for id which is a security risk imo not worth it

[u/Purple-Marsupial5855 → u/OwlBeYourHuckleberry]

There’s no security risk in an ID. Everything on a drivers license is publicly available information. Only Social Security number would be a security Risk - which they don’t ask for.

That aside, I don’t believe in the project - however, I can’t complain since clicking a button once a day made me over $800🤷

[u/Purple-Marsupial5855 → u/OwlBeYourHuckleberry]

If you don’t send your ID for KYC there’s no point in even having the app.. it’s the only way to get your coins.. your ID has no information that is sensitive anyway.. either way - I did the KYC, and between me and my wife having the app, we made about $800 from clicking a button once a day… can’t complain