Since its launch in 2019, Pi Network has attracted millions of users worldwide with its promise of mobile-friendly, energy-efficient cryptocurrency mining. However, along with its popularity, Pi has also faced a wave of skepticism and criticism from the broader crypto community and the public. Concerns over its utility, decentralization, and economic model have led some to question whether Pi is a legitimate project or simply a social experiment. In response, the Pi Core Team has provided answers—directly and indirectly—to these concerns through its actions, roadmap, and community engagement.
Criticism 1: “Pi Network Has No Real Value”
One of the most common criticisms is that Pi coins have no current market value and cannot be traded freely. Skeptics argue that without listings on public exchanges, Pi is just a number on a screen, not a real cryptocurrency.
Response: The Pi Core Team has been transparent about its phased development approach. Pi is currently in its enclosed Mainnet phase, where users can mine and build trust in the network without external market pressures. This period allows the team to complete Know Your Customer (KYC) processes, test scalability, and develop the ecosystem before launching into Open Mainnet. According to the official roadmap, exchange listing and market availability are planned only after the network is secure, decentralized, and compliant with legal frameworks. The team prioritizes long-term sustainability over premature trading.
Read about Pi: https://rankpi.com/sach-trang-whitepaper/ & https://rankpi.com/cot-moc/
Criticism 2: “It’s Just a Pyramid Scheme”
Another frequent accusation is that Pi resembles a pyramid scheme because it incentivizes users to invite others in exchange for increased mining rates.
Response: While the referral model in Pi rewards users for expanding the network, it does not involve any financial investment. No one is required to pay money to join or earn Pi. The mining rewards through referrals are designed to promote growth and security by creating a trust graph, not to funnel money upward like a typical pyramid scheme. In fact, the core requirement is time and daily engagement, not capital. The structure is more akin to viral app marketing combined with decentralized identity building than to any illicit investment scheme.
Criticism 3: “It’s Not Truly Decentralized”
Critics also claim that Pi Network is not decentralized because the blockchain is not fully open and the network is still controlled by the Core Team.
Response: The Core Team has openly stated that the project is in the transitional phase from centralized testing to full decentralization. In the enclosed Mainnet phase, the team maintains control to implement technical features, complete KYC verification, and build the infrastructure necessary for a stable open network. Once Open Mainnet launches, the blockchain code will be made public, and governance will shift toward the community. The goal is progressive decentralization, ensuring stability and security before handing over control.
Criticism 4: “There Is No Use Case for Pi”
Skeptics often point out that there are currently limited ways to spend or use Pi, leading to doubts about its future utility.
Response: During the enclosed Mainnet phase, the focus is on ecosystem development. Hundreds of developers are building decentralized apps (Pi Apps) on the Pi platform, aiming to create real use cases such as e-commerce, games, utilities, and social services. Pi’s own peer-to-peer marketplace allows users to exchange goods and services directly with Pi, offering early examples of how the coin could be used. The team envisions a large-scale ecosystem where Pi can be used for payments, smart contracts, and even cross-border transactions. The current development environment is preparing that foundation.
Criticism 5: “It’s Taking Too Long to Launch”
Many users and observers have expressed frustration about the length of time Pi Network has taken to move from Testnet to Mainnet and eventually to public exchange listings.
Response: Unlike many crypto projects that launch quickly and collapse just as fast, Pi is intentionally taking a cautious and comprehensive path. Building a global network with real users, verifying identities through KYC, and ensuring legal compliance across jurisdictions is not a process that can be rushed. The team believes that scaling slowly and securely is more important than short-term hype. In the long run, this patient approach may help Pi avoid the pitfalls that have undermined other crypto projects.
Conclusion
Skepticism is healthy in any emerging technology, especially in the cryptocurrency world, where scams and failed projects are common. However, many of the criticisms aimed at Pi Network are addressed by its long-term strategy, transparent development roadmap, and focus on user-centric design. While Pi may still have much to prove, its methodical response to doubts—through product development, community building, and cautious scaling—demonstrates a commitment to creating real value.
As the project moves closer to Open Mainnet and broader utility, it will have more opportunities to prove itself not just as a novel idea, but as a legitimate force in the future of decentralized finance. For now, Pi remains a work in progress—one that continues to respond to skepticism with action rather than hype.
