The Critical Mistakes of Pi Core Team: A Reality Check for the Pi Network
Authors
-
Mandeep Gupta
Director, Triple Dash Infotech Pvt. Ltd
https://orcid.org/0009-0005-3542-1408
DOI:
https://doi.org/10.36676/sjmbt.v3.i1.65Keywords:
PI network, Mistakes, IOU listing, CEXAbstract
The Pi Network project, which started with a bold mission to create a user-friendly decentralized cryptocurrency, has grown into one of the largest blockchain communities in the world. However, despite the impressive numbers, the Core Team’s decisions have drawn major criticism from long-term users ("Pioneers") who believe that the project has deviated from its decentralized ideals. Here’s a deep look into the mistakes made by the Pi Core Team.
References
• Pi Whitepaper (Dec 2021 Update)
• The Core Team themselves acknowledged that the growth of Pi was community-driven.
• Quote:
"Pioneers have been critical to the development and adoption of Pi Network, creating the vibrant community it is today."
• ➔ This officially proves the community loyalty and contribution.
• Pi Network Enclosed Mainnet Phase (2022–2024)
• Despite being stuck in "enclosed mainnet" for years, the Pioneers remained active:
o Over 47 million users continued mining.
o Thousands of Pi apps and ecosystem projects were built with no real market trading.
• Pi Hackathons and Community Events
• Events like the Pi Hackathon 2021, Pi Hackathon 2023 showed huge community participation while the Core Team remained slow in decision-making about Open Mainnet.
• Pioneer Behavior During Fake Listings (IOUs)
• Even when fake Pi prices appeared on HTX, XT.com, and others, the majority of loyal Pioneers refused to sell Pi in black markets and followed Core Team guidance patiently.
• Statements by Nicolas Kokkalis in Interviews
• Nicolas said multiple times in interviews (2021–2023) that:
"The true strength of Pi is its community. The network’s success depends on the pioneers, not just the technology."
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