When jokes become myths, those who laughed can no longer laugh.

Pi coin is listed on OKEx, is it a myth of getting rich quickly or a new way to cut leeks?

Pi coin announced its listing on OKEx (OKX) exchange. As soon as the news came out, the entire currency circle exploded. Pi coin, known as the "ancestor of mobile mining", has finally emerged from the gray area, but the story behind it is not that simple.

Pi coin is a "hot commodity" in the eyes of the middle-aged and elderly groups. The slogan of zero-cost mining has attracted more than 35 million users worldwide.
The seemingly simple mining game actually hides a mystery:
Recommended rebate pyramid: For every head pulled, 30% mining acceleration is rewarded.
Hungry marketing: "Early participants will receive a thousand-fold return."
Brainwashing community operation: "Wealth lectures" three times a day in the morning, noon and evening.
These routines have allowed Pi coin to spread rapidly, but they have also caused conflicts in many families. According to data from the anti-fraud platform, in 2022 alone, more than 200 middle-aged and elderly people had fierce conflicts with their children because of investing in Pi coin.

The technology of Pi coin has also been questioned. Technical expert Li Ming pointed out: "The blockchain of Pi coin is still a centralized server. The so-called main network has been delayed five times in three years. This is more like an advanced point game than a cryptocurrency."

The blueprint of the financial empire drawn by the project party is becoming more and more bizarre: from decentralized social networking to cross-border payments, and even to building a metaverse economic system. But the reality is that the transfer success rate of its wallet function, which has been tested for three years, is still less than 60%.

In this national carnival, the most dangerous thing is cognitive dislocation. Lao Chen, a 60-year-old Zhejiang businessman, mortgaged his property to buy Pi coin. He firmly believes: "Didn't no one believe in Bitcoin at the beginning?"

Coin circle analysts gave amazing data: 94% of the "innovative currencies" that landed on second-tier exchanges in the past three years returned to zero within half a year. Those projects that claimed to subvert the financial order eventually became bloody nutrients in the exchange's traffic pool.

When the sword of supervision was hanging high, the exchange and the project party staged the last crazy dance. In this game of passing the flower, those who can really get away unscathed are always those who quietly leave before the gong sounds. What is left for ordinary investors may only be a string of numbers that can never be withdrawn, and a mining button in the phone that will never light up again.

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