Is Pi Network dead? What really went wrong behind the hype
Pi Network is not “dead” in the sense of being completely abandoned or defunct, but it is struggling significantly with its price, user confidence and ecosystem development.
When Pi Network first hit the scene in 2019, it had a simple but compelling pitch: What if you could mine cryptocurrency straight from your phone — no expensive gear, no massive electricity bills, just a tap a day on an app?
It caught fire. Millions of people jumped on board, lured by the idea of “free” mobile mining and a chance to get in early on the next big thing. The app made it easy: You signed up, invited a few friends, tapped a button every 24 hours, and watched your Pi (PI) balance slowly grow. With the social referral model fueling growth, it wasn’t long before over 70 million users had signed up worldwide.
