Response Son of a Tech Pi Network Will COLLAPSE?

what is up ladies and gentlemen welcome back to the Brandon coin YouTube channel I hope everybody's having a great day it is March 5th 2025 just for reference and a lot of people have reached out to me recently and sent me this video and they're like you need to watch this you know p a scam is p a scam do we need to you know delete it what what do we need to do so I recently had done um a video on the pi Network which is a cell phone based you log in you tap it you get some rewards uh it doesn't cost anything you don't have to buy anything um but I figured you know what let's do a watch along and address some of these points and um and see potentially you know is did I miss something you know I'm not going to say that I'm perfect I'm I definitely am not but um big shout out this video is actually from son of a tech uh have a ton of respect for him and he's an O absolute OG in the space so please go over and um drop him a comment make sure you're subscribed he's got lots of good content coming out but let me flip this over here and um I'll mute my mic and then when we hit a section with a talking point or maybe we can dissect some of what's going on then uh I'll just pause the video so here we go okay so let's restart this let's go ahead and talk about about the pi Network huh um so the pi Network here just launched recently and it is the reason we're talking about it is because some people say that you mine it I think that's debatable but in addition to that um it's all right going off that one point right there I don't think um I don't know exactly how they're set up uh but traditional like proof of work mining you're not mining it on your cell phone you log in you tap it and then you can close the app out it doesn't burn any extra power it doesn't use any battery so um it's almost more of like a faucet situation so I do agree with him on that absolutely um it's not mining but it's mining you know so anyway continue on it's obviously performing extremely well here recently going as high as $276 and it's up 62% over uh since its launch and I think over the past seven days it had a pretty nice or what was it past day it had a really nice recovery and it's up 73% right so obviously if you're in it's actually down quite a bit because the uh Market is down pcoin price um we'll look at this real quick $182 so it's actually it's coming back up but I was looking at it earlier and it did touch like $160 or $170 area but it's definitely not 270 like it was in this video invting this project looking very good for a lot of people and it's a unique project so let's talk about why it's blowing up according to you know coin desk and then we'll kind of talk about what the project is and and kind of do a little bit of digging but The Tokens The Token debuted at $195 billion value despite minimal liquidity Pi's Network native token traded with an initial fully diluted value as high as $195 billion US the token debuted a170 and it Rose to $2 before losing 50% of its value in the next two hours pretty common obviously for new launched projects overall but obviously it went up from there so it's currently has a market cap of $6.1 billion US Pi has drawn comparisons to viral tokens from previous cycles for example safe moon with a referral scheme that gives early holders and referers an advantage over newcomers now someone that's been a lot of people are ask me like why aren't you talking about it's a mining project blah blah blah as soon as I saw it to be completely honest with you um I was a little I was a little offut because I have seen safe Moon I've seen projects like this um destroy people very quickly right and as of right now it's looking good it's going up but if you fomo in you can be in a very precarious situation always remember with these kind of referral Cycles especially when you start seeing content creators releasing their referral codes and pushing those referral codes on you to sign up with you need to watch out because the only one that's going to succeed here are those influencers and those influencers are going to get you to use their referral codes what does the referral code give them it gives them some of the token usually what do they do with that token they sell it eventually so they drive the price of the project down and they have no skin in the game because they're getting the damn thing for free so don't listen to these hustling crypto YouTubers trying to get you to use their godamn referral codes to dump on your [ __ ] heads how many retards do we have in chat today let me know does that mean the whole Project's bad no it's just very frustrating that I see this time and time again and people keep falling for it dear all right um so I guess the the first main issue was was the referral situation it's a like a could be labeled as like a scheme to pull people in um but isn't isn't that what referral systems do uh and my main talking point and my main reason why I was okay with sharing a referral code whenever I started this endeavor on my phone is because there's no cost of Entry there there's no barrier of Entry if you have a cell phone uh you can download it and you can be a part of the pi Network um it's not like you know if I refer you you then have to buy something um I don't make money off of you buying things which I'll look up like the technical definition of like a like a multi-level or MLM like pyramid scheme normally um you know you got your guy at top the guy underneath them would have to buy something and then that's how the guy at top makes money but in this situation Whenever I send a or I have a referral code you use my referral code you get one pie I get one pie and then we both get a small bonus whenever we mine our PI and the more people you refer the more bonus you get along with if you run a node or there's a couple other ways to earn bonuses on that um so it has nothing to do with with buying um that's one thing that that I looked into because I didn't want to share a referral code that was driven by like monetarily them having to buy something it actually there's from what I understand right now if that you went out and bought the coin and you referred my used my referral code I don't get anything nobody gets anything it's only on the mining side for a bonus for Mining and you still do have to check in and do your click for your Mining and both people get the advantage of the bonus on the mining and one free pcoin so he seems really upset about you know people using referral codes uh and I've always been tried to be very careful about what I refer um I only use you know promote referral codes or use referral codes for you know programs and applications and companies that I'm actively using um I don't know if you guys have noticed I dropped Amazon I know longer use them because uh had a lot of issues with them on the the backend side referral side uh for like the you know the Amazon affiliate system um no longer use them I don't you know push a ton of referral codes that I don't believe in um if I have a referral code it's because I I use that program and I do believe in it and so far I still don't see the issue with pcoin having a referral system uh it does bring people in that's what referrals are supposed to do um and as long as they never add any way for you know people underneath to buy and then the top person gets a bonus then it's okay by me and also it doesn't stack multiple levels it's only a one: one ratio so if I refer somebody and then they refer somebody I don't get credit for that referral up underneath them I only get credit for my referral and then they get credit for their referral and then the next person would get credit for their referral um it doesn't like go all the way up like a pyramid um but yeah yeah so as for him also talking about like selling pressure and you know people getting you know influencers I.E you know like me and I guess other people on YouTube uh creating selling pressure and dumping it on on heads uh I was looking at Pi more as like a a long-term situation because I didn't get in early so I don't have hundreds of thousands of these coins I don't even have a thousand coins um so I was just looking at it as it'd be cool content it's low barrier of Entry anybody can do it as long as they got a phone uh and it doesn't cost anything um which I guess goes with the low barrier of Entry uh so yeah yeah let's continue onwards um as for like like dumping the project uh a lot of people have said like oh it could go up a lot higher it could go down a lot lower you know what am I going to be doing with my coins I can't do anything thing for like the first 30 days CU you do have to do 30 mining sessions uh before you can even apply for kyc and then it takes another 15 days to move your funds from testnet over to mainnet so I'm not doing anything with my coins anytime soon um and then you know we'll see what it's like in two months from now 3 months from now 6 months from now and so on it looks like they have a lot of cool options coming up with their nodes and their super nodes so um see if they're actually going to build upon it and go from there regardless uh let's let's jump back into his video sorry this is going to be a long one guys de Lord man all right so what is it Pi Network the smartphone mining project that claims to have 60 million us users released its native Pi token Thursday giving Traders a roller coaster ride that saw the price rise 18% in minutes before tumbling 50% over the next 2 hours Pi debuted at $1.70 Rising as high as $2 it was recently trading at 97 obviously today it's at 275 the initial surge sent the fully diluted value to as high as 195 billion which it already talked about so the fdv is based on the maximum supply of a token not circulating Supply right so that's 100 billion in this particular case is going to be the maximum supply of the pi Network the self-reported circulating Supply is 6.3 billion putting its market cap around 6.1 billion that's the current market cap okay Pi network has drawn comparisons to viral projects from previous Cycles including safe Moon which also attracted a retail audience with aggressive marketing and referral schemes in order for users don't forget bit connect as well in order for users to begin mining the P all right I I was around during bitconnect if you guys don't know what bitconnect is um it like elevator pitch was a platform you would log in and um you would invest money and it was almost like a not like a cloud mining but kind of like a cloud mining you would invest money and then it earns money through like interest and they said there was like lending programs and all this kind of stuff it was all fake it was a pyramid scheme if you referred somebody and then they bought in you would get a portion of theirs and then you would get a portion of anybody they referred it was a straight up pyramid scheme multi-level marketing um and it crashed and burned eventually because uh it just couldn't sustain itself but it was big it was huge huge years ago um but making the comparison from PI to bitconnect uh right now and just like rolling it off off your tongue huge huge that is a huge accusation um I I don't I don't see the connection because uh yeah yeah let's just go on further I I don't want to I don't want to Railroad this too far High token on a mobile device they must first receive an invitation from another user they are then issued with a you don't have to receive an invitation from another user you can download and use Pi with no referral so just to clarify that point an invite code that can share they can share themselves more tokens are rewarded for each of the referred users creating an ecosystem that REM mirrors multi-level marketing or a pyramid scheme spoton that's what it does okay um and okay mirrors it on a on a like on level basis this pyramid can only go down one level uh and then this pyramid nobody's investing any money is hold on let me let me ask my buddy Chad GPT can a can you have a pyramid scheme without um without investment so if it's uh if it's free can it be a pyramid scheme all right Chad GPT no a free offer by itself does not necessarily make something a pyramid scheme however uh it can be a pyramid scheme if it often relies on people recruiting others into the scheme to make money rather than offering a legitimate product or service um if they are lured in by free and then have to pay then it is considered a pyramid scheme for example if a company or program offers a free product or service but the only way to profit is by recruiting others who also pay to join without a real product or service being sold then it could be a pyramid scheme the key element of a pyramid scheme is that it focuses on recruitment of sales underneath yourself not the sale of goods or services initially and those at the top earn money by having people join and pay below them so if it's free and 100% free then it is not considered a pyramid scheme obviously Chad GPT is not the all- knowing eye of everything but that's where I'm getting hung up on on what he's saying here uh I don't know how we can have a pyramid scheme if it only goes one level deep and everything is free there's no investment and there's no uh offer for in like or there's no bonus if people do buy the coins or invest uh it's only for the the mining now touch and base on the multi-level marketing multi-level marketing compensation plans typically pay out participants from two potential revenue streams there needs to be a revenue stream below that supports the user from above so there's no Revenue stream it's free um yeah yeah I'm not going to say that like Pi network is going to revolutionize everything and it's going to be the best thing since sliced bread but I don't want to throw around the fact that it's the next bit connect um or it's you know a pyramid scheme by definition it's not so let's continue on again you're going to see especially with the price right now I think you're going to see a lot of influencers uh pushing this on you guys and it's a Ponzi and if this becomes as successful as bit connect or safe moon at least one of your favorite influencers going to end up in prison over this just so you know okay and all the influencers that watch my channel I'm going to tell you be careful I've seen this happen before and I've told people directly that have gotten in trouble doing this stuff not to do it and I was right this gets you in a lot of trouble if you do it a low enough level hold on so I'm I can I can potentially be in trouble for having somebody download and use an app that's free and and I don't benefit off of them buying something I can end up in jail what that's wild that's I mean by these standards I could be like oh you know um you know anybody using any affiliate links you're benefiting from it uh if something goes wrong then you're going to go to jail um no I don't know that's that is that is crazy okay he he brought it up he's like clearly this was a Ponzi you know let's go ask my favorite buddy Chad GPT um if the service C RV I I can't type or spell midnight if the service is free and requires no payment can it be a Ponzi if a service is genuinely free and requires no payment or no benefit from payment by referred users it cannot be classified as a Ponzi scheme a Ponzi scheme requires participants to pay money in exchange for the promise of profits or returns often from the cont uh cont contributions of newer participants rather than from legitimate Investments or business operations in a Ponzi scheme the key element is that people pay into the system usually with the expectation of high returns later on and those returns are paid using money from the new participants that were signed up not from actual profits or Investments if there's no payment required and the service is truly free it does not meet the criteria of a Ponzi scheme free trial offers that later up sell a paid service could be considered as a py scheme and referral based incentives that promote recruiting users in a system that requires a payment later on could be considered a Ponzi scheme so um oh boy chat GPT also um is thinking similar to me that um it's not a it can't be a Ponzi scheme if it's free I I feel like I'm repeating myself at this point um let's go on further I apologize can get you in a ton of trouble extremely quickly okay so exchanges currently lacks sufficient liquidity to handle the billions of tokens being traded in fact even the most liquid exchange okx has a 2% Market depth of between 33,000 and 60,000 that means an order of say 100,000 would move the price significantly creating a volatile trading environment Market depth measures the amount of capital required to move an asset in either direction based on the token's market cap a 2% move would equate to a $146 million shift in the Project's value Pi network has attempted to remedy a disparity between buyers and sellers by offering holders a lockup period which can be up to three years now what is already happening what are they trying to manipulate they're trying to manipulate the people that are selling and not buying they're running out of liquidity to fill the sell orders and so they're offering ing a lockup period to stop people from doing it so if they're manipulating it to that point why is this doing this because of the manipulation that they are having on the market and the unavailability of people being able to sell the token so does this chart actually look good no it doesn't look good this looks bad because as soon as there's an availability to sell what's everybody that's been getting you to buy and use their referral codes going to do they're going to sell felt like we needed to address this because I keep seeing people that I think get way too many followers talking about this [ __ ] saying stupid [ __ ] and they're going to get in trouble if you want I I have no problem with phone mining by the way if you want a phone mine use a decentralized project like vers coin okay all good go mine some vars coin take care of that stuff I don't um one thing I did want to point out to him because I when I first looked into this I had talked to people that have been in the pi Network for a significant amount of time the lockup period was not something that is new or they just came out with the lockup period was available even before they launched mainnet and went on exchanges um so you could choose to lock up your funds to get an increased mining percentage reward um so you know saying that that saying that oh they're introducing this lockup period to slow people down from selling comes off slightly disingenuous as well um because you have multiple options you don't have to lock up you can lock up a small portion more so on and you can do it you know at anywhere from my I think two weeks all the way up to 3 years and you can slide that scale across there so uh it just feels more like along the lines of staking to me uh if you believe in the project then you can stake it uh and make additional rewards um the whole trouble thing though he keeps going back to the trouble thing we can get in trouble I don't know maybe I'm missing it I'm going to continue onwards don't say this cuz I if I really dislike the people I'd be calling them out by name I don't dislike the people that are pump pumping this up in fact I think they're just stupid I I think they're just stupid they don't know what they're doing they haven't seen this before they don't know what they're getting into and I think that's the position that I would take on any of this I don't think that any individual is a bad person it's just not going to end well it never ends well it never ends well okay it makes me mad when people fall for this stuff and then they get their entire audience into it and then people get screwed so um there's a block Explorer there is a node um we could go over the white paper we could do all of that but just the nature of the way they have the multi-level marketing for you to be able to mine in the first place is the is the biggest large the biggest red flag I mean we could go through and try to like find other red flags I don't know how necessary it is or how angry it's going to make me to continue to go through it but it is what it is right um now there's a computer app that you can utilize and that allows you to interact with the PI app on your phone from your computers there is a node which I I think we had pulled up the release of the node over here somewhere or no this was the block Explorer right so this is the node information okay so if we go we can download the node for Mac or Windows it doesn't look like there's a Linux command line option at this point and I don't see a GitHub necessarily um they it doesn't say if there's an incentive for running a node at this point either right um let's see if we can see anything on there no Rich lists here oh just okay and then let's see if we got there tokenomics here somewhere all right here you go so it's a 2080 Pi token distribution with 20% going to the core team and 80% to the community um it looks like so the pi Community has 80% of the pi core team has 20% of the total circulating supply of Pi regardless of how much circulating Supply there is in the pi Network at any given point in time thus a given total Max supply of 100 billion Pi the community will receive so it says um the core team's allocation gets unlocked at the same Pace as the community progressively mines so I guess it's a 2 to eight right so uh uh that would be a 4: one um as you mine a quarter of that is unlocked for the core team okay um so what we would need to find uh just to be clear I think uh 20% is is not a quarter that' be 25% I mean it is it's like split in peanuts at that point but yeah just a quarter of it is technically not 20% find out [Music] then so the pre-main net mining rewards were 20 billion which means as of right now 5 billion Pi is in the hands of the team already and if we read this if it was at total oh that's rough so 6.1 billion us with the team currently controlling five billion is that accurate that was at that price no double this price yeah so they control five they control 10 billion of a24 billion cap what's the cap now let's go look we can just look at that we don't have to ask 18 I was close I said 20 okay so they control currently 5 billion of the 18 billion in Supply I think currently I have to do this math a little bit more but they control 20% but it unlocks as you mine it but to be clear they had a test net mining uh incentivized test net so similar to fish has or KY right um as far as that is controlled um it does require invite codes and you need to be extremely careful with this one guys another rug so people always get I think there's always this like misconception of like what a rug pull really is in this case you're not it's it's the same it's the same scheme as like a bit connect or a safe Moon it is essentially it's not that you're necessarily getting rug pulled by the dev team it's usually that you're getting rug pulled by some other holder of it right beat connect all right well it looks like we're tapering down to the end of the video um okay so addressing the rug poool allegations uh will this coin rug poool can it rug pool yeah it absolutely can um there's enough coins out there that could drain the liquidity um it could be gone tomorrow but call me crazy if you signed up for it and you used it and you got free coins for just clicking on something once a day and it rug pulled and went to zero nothing ventured nothing gained right just so happened what if it doesn't rug pool it is worth a little bit of money and then you can sell it right what happens then like I mean I don't know to me um it it seems like an easy play to try to uh try it out and um see if you can't make some make some coins and then do something with them later on um you know I've been I've been told that there's going to be more things in this Pi Network that are going to utilize these coins um but just to to throw out the fact that oh this is another safe moon this is another bit connect this is another rug pool it's a Ponzi scheme it's a pyramid scheme it's MLM um and then also to say that you know influencers that are are promoting it are going to get in trouble I just all roads lead back to I don't understand how anybody can be upset with free coins they're free you literally have to tap something once a day uh and then you can get free coins so yeah now if this goes to zero tomorrow nobody that used my link lost anything I didn't lose anything other than I guess essentially time making videos um but if it doesn't and some people can sell some coins then great right like I don't know I guess I just don't see the issue I'd love to hear your questions comments concerns down below um I do see why so many people sent me that video and it does have a lot of people thinking um or well sorry not thinking for themselves and they're just like it's a scam it's a scam and the best part about that is you don't have to participate if you don't want to so if you don't want to mine Pi you don't have to it's not like it comes pre-installed on your phone and you have to log into it and you have to do it just like anything else on the internet if you don't want to you don't have to just click off of it go away from it don't click on it um but anyway guys uh yeah so sorry this video ended up so long uh I will see you guys on the flip side other than that I mean if you want to start mining Pi I'm gonna put my referral code down below you can use it if you do use it I appreciate it and I will be showing you guys what I'm earning with my referral code and all that kind of stuff like behind the scenes behind the veil pull the veil back um yeah yeah so um yeah this has been a this has been a good one all right y'all have a good one adios

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