Pi cryptocurrency investors are angry and are calling for the app to be removed.

On the morning of July 3rd, many accounts in online groups investing in Pi cryptocurrency on social media, such as " The World of Pi Network" with 234,000 members, "PI NETWORK VIET NAM" with 89,000 members, "Pi Network vn" with 47,800 members, etc., simultaneously posted messages calling for users to delete the application and quit trading after the Pi Network team continued to make promises without specifying when this cryptocurrency would be officially traded.

"Deleting the app, just promising to do it. Who knows when the Mainnet will even be launched before deployment?" - wrote an MM account in a Pi group with over 150,000 members.

In the comments section, a user named LA expressed frustration: "What's the point of not deleting the app now? Other projects have been listed on the exchange for ages, while this one pops up occasionally with announcements to sow hope, but in reality, they're just manipulating the market rather than trying to complete the project."

Similarly, user QL wrote: "So frustrating, deleting the app is the right thing to do, no question about it. Now many people are burning through their money while Pi Core is clearly making excuses to delay."

People

Nevertheless, many other users still share optimism and continue to wholeheartedly support the project. A user named CP wrote: "Whether the Pi app is deleted or not doesn't affect anyone. Pi is a long-term project. If you lose faith, don't post it on Facebook. The Mainnet will open soon; anyone who sells later will regret it."

Previously, prnewswire reported that On June 28th , Pi Network announced plans to transition to an "open mainnet," enabling users to trade other cryptocurrencies by 2024.

However, this requires fulfilling certain conditions, including: 15 million Pi users having verified their identity (KYC); 10 million users migrating to the Mainnet; 100 Pi applications currently active on the Mainnet or ready for Mainnet; and no adverse external factors...

The Pi Network community reacted, claiming that Pi Network was deliberately delaying and would be unable to determine a time for the Mainnet launch, or even fail to launch it altogether, given some vague and ambiguous conditions.

Nicolas Kokkalis, founder and Chief Technology Officer of Pi Network, said that over the past few months, the team has continuously tested and optimized the technology, making numerous revisions to create a new update that helps speed up the transition to the Mainnet, KYC, and other blockchain components.

"These updates will support upcoming projects such as KYC extension periods, second and subsequent migrations, Mainnet and blockchain... leading up to the Pi Network launch in 2024," the founder promised.

To date, Pi Network has over 60 million participants globally and more than 12 million accounts have completed KYC verification (up from 9.45 million in March).

According to financial experts, cryptocurrencies or digital currencies like Pi are not yet legal tender under the law. Therefore, investors bear all the risks when investing in this type of currency and similar products because they are not protected by law.

"Users need to be cautious before participating in investment activities, fundraising, soliciting, luring, and trading activities involving cryptocurrencies," experts advise.

Regarding Pi, at a press conference in June 2023, Major General Le Xuan Minh, Deputy Director of the Cyber ​​Security and High-Tech Crime Prevention Department (A05), stated that they had coordinated with local police to investigate activities soliciting investment in this digital currency.

Source: https://nld.com.vn/gioi-dau-tu-tien-ao-pi-gian-du-keu-goi-xoa-app-196240703121723049.htm