This is not a hate post towards Pi Network; in fact, I own some Pi coins myself. However, I have decided to sell all of mine for the following reasons:

1. Years ago, there were claims and rumors that Pi Network was leaking personal data and putting pensions at risk.

2. In 2023, the Chinese police academy warned people about Pi Network, stating that it was a scam targeting elderly individuals in the country.

3. ByBit was expected to be one of the first exchanges to list Pi, but the CEO firmly rejected this. I believe this decision was influenced by the aforementioned concerns.

Let's entertain the possibility that I'm mistaken. What exactly has Pi Network been developing for the past six years? Other successful layer 1 projects like Solana, Polkadot, and Avalanche took much less time to create. Some even claim that Pi is the next Bitcoin.

It seems to me that the team behind Pi Network does not have much to offer. Creating a meme coin can take just a minute, while developing a new standalone blockchain project with practical utilities typically takes one to two years. So, why has it taken Pi Network so long?

Do you think Pi Network is a scam, a fast money grab, or something else entirely? Share your thoughts below.