Justin Bons looks at the case of PI Network: accusation of “fraud” founded?

Justin Bons raised some concerns about PI Network Project Technology and its economic model and its token and claims to show that they are deeply defective and potentially harmful to investors.

Network, simple fraud? What Justin says well

In a number of posts on X, Good, he emphasized several problems with the network PI. He remarkably suggested that, unlike his decentralization claims, the network remains highly centralized.

“Pi is fully authorized (centralized) and all requires identity verification, even simple transactions!” Pi is an investment fraud, nothing more, ”he wrote.

Good also criticized the launch of Mainnet, which was delayed by five years, and called promises of innovation and network decentralization as fraud. One of the main remarks of the framework mainly concerns the fact that Central Pi network technology would be copied to Stellar (XLM) technology.

Despite this, he claimed that the absence of a virtual machine (VM) completely in the sense of touring limits the potential of the PI network in terms of decentralized financing (defi) by creating an “unrealizable dream”. As a result, according to vouchers, the network would not be scalable or programmable.

She also highlighted the network’s sponsorship program that compared to a multi -firemical marketing system (MLM). He therefore argued that this system generated unnecessary network costs without offering users the real benefits.

In addition, Good emphasized the Ponzi type mechanism in the network PI process. He revealed that the token blocking period is beneficial to the initiators by inflating the price of assets, allowing the first investors to step out of the profit market.

Transparency, or rather the absence of transparency, is another main problem that is recorded by Justin Bons. He really criticized the network for not revealing the token posts of initiators despite the use of identity verification procedures (KYC). Thus, he noted that initiators could control up to 20 % of the network offer, which is contrary to the demands on the equity capital.

“The fact that she entered the TOP 20 is a pity for our industry,” he concluded well.

Previously, the CEO of Bybit, Ben Zhou, expressed similar concerns, qualified fraud Pi, and described this crypto project as “more dangerous than the same horns”.

Pi Coin (Pi) will be listed on binance?

In parallel, this new wave falls, although the pioneers of the project express growing dissatisfaction with the exchange binance. On March 19, the stock exchange revealed its first share of projects to vote on the list, with the same corners associated with the dog of its former CEO and Token Mubarak (Mubarak).

Although Pi Coin (PI) has gained a favorable voting of 86 %, binance seems to bake to the extent and evokes the frustration of the community.

“Stop acting as a third -order scholarship and keep your promises before starting another vote. I don’t know if cz would behave like that if he was still in Binance, he wouldn’t be proud of your behavior,” the Surfer wrote on X.

The community even went so far to give Binance a note of 1 star in the Google Play store. However, this could only contribute to giving you prospects to improve them.

“Don’t try to force us to tell your room by spreading FUD or negative comments on binance, or you’re on a black list,” Binance said.

The criticism of good together in the rejection of the evaluation of binance also coincided with the devastating collapse of the PI market. The course of Token this Friday, March 21, fell for the first time since the end of February.

Last day, PI fell by 20.1 %, while the weekly losses spread to 48.7 %. At the time of writing this article, the coin was negotiated for $ 0.91. His classification was also affected, active slipping on 27.

Morality of History: Pi Network has as much pioneers as critics.