The endgame of Pi coin eyewash: Mobile Mining for six years, why have we become the 'human Mining Rig' of the blockchain era?

As I stare at the string of numbers in my Pi wallet that can never be withdrawn, I suddenly remember the excitement of pressing the lightning button for the first time five years ago - back then, I would never have thought that this social experiment disguised in blockchain clothing is forging 47 million users into a 'human Mining Rig' of the digital age.
The perfect disguise of Ponzi coin: the death spiral from 'consensus' to 'mutual damage'
The most ingenious design of Pi coin is to make every participant become the cancer cell of the MLM network. The mechanism of recruiting people to accelerate Mining and locking up to enhance computing power is essentially to use the blood of newcomers to nourish the account balance of early players. I have personally witnessed a community leader developing 12 layers of downlines, harvesting thousands of Pi coins every day, and the fuel for this 'MLM perpetual motion machine' is those uncles and aunts who believe '1Pi=1 house'. More ironically, the project team has reaped three sickles in six years: first, they earn the first pot of gold through advertising traffic, then freeze user assets through the locking mechanism, and finally complete the ultimate harvest by listing on the exchange.
The hundred-billion-dollar bubble: When 'Mobile Mining' becomes the fig leaf of Ponzi eyewash
The so-called 'Mining' game, which claims to be 'participated by everyone,' actually hides fatal mathematical pitfalls. The massive supply of 100 billion is like the sword of Damocles hanging over one's head—even with the most optimistic $1 valuation, its market value will crush Bitcoin, but the reality is that the price in 2025 is struggling between $0.4 and $1.2. What's even more frightening is that out of the 5.5 billion unlocked tokens, 660 million are still locked in the 'Pandora's Box' by the project party, ready to be unleashed at any time. Those who believe in 'scarcity equals value' will eventually realize that they are nothing more than hostages in the project's liquidity pool.
Survivorship Bias: How to gracefully exit on the eve of a collapse
The real dark humor lies in the fact that the Pi community is playing out a collective Stockholm Syndrome. When on-chain data shows that the daily active wallets are less than 28,000, those believers who loudly shout 'HODL' are nothing but the last fools afraid of exposing the emperor's new clothes. The old miners I know have long been secretly arranging to quietly sell at $0.23-0.85 on the OTC market, while continuing to promote the 'waiting for 10,000 Pi' myth in the community - in this game of passing the buck, the sober ones are all pretending to be crazy.
At this moment, Pi coin is like the "Truman Show" in the world of blockchain, where all participants are staging a value illusion. Perhaps five years later, when we look back, we will find that the most precious thing is not the numbers in the account, but the ultimate truth this absurd experiment teaches us: in the currency circle, more important than technology is the ability to see through the scent of Ponzi eyewash, and more precious than faith is the courage to stop loss in time.
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