The payout is a scam. Why doesn't anyone care? As early as before, the police have already reported on the Internet, this pi coin, it is not a blockchain, not a virtual coin, but a pyramid scheme, fraud, the latest news of the currency, the most famous news about Pi Network is that some KYC(real name authentication, internal transfer qualification) users began to trade Pi coins.

First, why is the coin a scam

As early as before, the police have already reported on the Internet, this pi coin, it is not a blockchain, not a virtual coin, but a pyramid scheme, fraud, and there are countless related posts on the Internet exposed. pi coin, as a zero-weight project that went online in 2019, issued so-called pi coins under the guise of blockchain, and promoted users by drawing big cakes and pulling heads CX. Project side through tens of millions of pi currency users to see advertising profits, so reluctant to go on the main network, now see their own scandal has been exposed, really can not drag on the announcement of the main network time!

Second, the latest news of the currency

These days, the most famous news about Pi Network is that some KYC(real-name authentication, with internal transfer qualifications) users began to trade Pi coins. For information about Pi Network, please refer to the official announcement. Therefore, after the Pi coin is on the exchange in the future, what the price is in the end can only be proved by time.

Third, why is payout a pyramid scheme

pi coin as a mobile phone mining project itself has a logical problem, pi coin itself is an air coin, no value, but now some people are advocating exaggerating its value, there is no doubt that the project party is intentionally with rhythm for ulterior purposes, some coin friends are in the name of the main network online, in the crazy private sale of coins. One is worth hundreds of yuan, and some sell accounts directly. Some brainwashed coiners fall for it. Do you really think that the online opening is thousands of yuan a?

Why is everyone dying to blow pi coins can rise to thousands of thousands of one, in fact, is blown for you to see. Claimed thousands of one, privately sold you dozens of hundreds of one. If they think the listing can go up to a few thousand, why sell it now?

Remember not to be fooled by others, pi coins basically have no value, even after the exchange price will be all the way to the street.

Although pi is zero, but eventually will induce everyone to invest money, after all, if the number wants to change to real money back, this will not be without everyone's pockets, we will preview the future pi currency project side may harvest leeks (provided that there is no external intervention in the condition of collapse).

The first is to announce the suspension of production on a certain day, and then the main network is online, and at this time it can attract leeks to enter. The second is to do token mapping to announce a proportion, and the main network currency will be exchanged, giving leeks the hope of making a fortune. Finally determine the total amount of the main network coin and then dilute it. Do some ecological applications after the line, attract leeks to lock the warehouse, and then pull up the price of the currency, and announce the community freedom after the sell-off, and the perfect harvest is completed!

Is it legal to distribute coins?

It's illegal. It's a scam. Pai coin is essentially a pyramid scheme currency, fake blockchain, under the slogan of "blockchain technology", "digital currency" and other concepts began to illegally suck money, defrauding investors of money. Because China does not recognize blockchain technology as a currency, Pi is a virtual currency. China prohibits the trading of digital currencies, which is not regulated by Chinese law, and pi coin advertises itself in this way. And the central bank does not recognize any non-state dominated issuance of digital currencies in virtual form. The so-called PI coins are issued under the guise of blockchain, and the consensus is how many people are going to trade PI coins. As a project launched in 2019, mining bitcoin is not legal in China.

On September 4, 2017, the seven ministries and commissions of the State issued an announcement "on Preventing the financing risks of token issuance" : Article 2 of which stipulates that no organization or individual shall illegally engage in token issuance financing activities!

The content clearly states that from the date of the release of this announcement, all types of token issuance financing activities should be immediately stopped. Organizations and individuals that have completed the financing of token issuance should make arrangements such as liquidation, reasonably protect the rights and interests of investors, and properly dispose of risks. The relevant departments will seriously investigate and punish the illegal activities of the token issuance financing activities and the completed token issuance financing projects in accordance with the law.

On August 28, 2018, the China Internet Finance Reporting Information Platform added the report content of "token issuance financing" to the "Internet Finance reporting scope".

The essence of all kinds of token issuance financing is an unauthorized illegal public financing behavior, which is suspected of illegal issuance of token notes, illegal issuance of securities, illegal fund-raising, financial fraud, pyramid marketing and other illegal and criminal activities.

(Source: Zebra Complaint)