In a curious twist of fate, the Pioneers of the Pi Network, those brave souls who dared to dream of digital riches, have found themselves in a peculiar predicament. They are now selling their very accounts, as if they were old boots left behind on a dusty trail.
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Among these accounts, 1.1 million Pioneers have locked their PI for a mere six months, while 1.6 million have committed for a year. But the real kicker? A whopping 7.2 million accounts—62.6%—are locked away for three long years. This means that these coins will remain as inaccessible as a secret treasure map until late 2027 or early 2028. Talk about a long wait for a bus that may never arrive!
“Normies have been mining that PI stuff every day for about three years. I was sure it was a scam, but hey, it looks like I might get something out of it after all. The funny thing is, most of the normies locked it up for 3–5 years and now wish they could sell their PI,” a user lamented on X (formerly Twitter), a digital town square filled with the musings of the masses.
This growing impatience has driven some Pioneers to take matters into their own hands, selling their accounts—passphrases and all—on platforms like X. A quick search for “sell locked Pi” reveals a veritable flood of offers, as if a yard sale had erupted in the digital realm, with users hawking their locked balances for immediate sale.
“A friend has 2,136 Pi for sale. The Pi is locked until 2027. If you buy, you will receive the passphrase, which grants full access to the wallet,” one enterprising user posted, as if selling a used car with a questionable history.
Yet, amidst this frenzy, a user expressed deep concern for his fellow Pioneers. Many who have locked their Pi face dire financial hardships, unable to sell their coins, like a farmer unable to harvest his crops due to a drought.
However, this practice is fraught with peril. Sharing passphrases with buyers creates a scenario where at least two people know the critical access key to an account, increasing the likelihood of theft or fraud. It’s like handing over the keys to your house to a stranger—what could possibly go wrong?
In this unregulated wild west of cryptocurrency, buyers are also vulnerable to scams. Dishonest sellers could offer fake accounts or invalid passphrases, leaving buyers with nothing but empty promises. Legal concerns loom large, as this practice may violate Pi Network’s terms of service, risking permanent bans or the forfeiture of coins, leaving both parties high and dry.
Beyond the lockup struggles, the Pi Network has faced significant criticism, as users have been unable to migrate their tokens to the mainnet. Many Pioneers have reported unresolved technical issues preventing balance transfers, sparking calls for extending the March 14 migration deadline, as if they were pleading for a reprieve from a relentless storm.
Meanwhile, these troubles come at a time when Pi Coin is facing its own challenges. The altcoin has lost 22.2% of its value over the past week, a decline that feels like a punch to the gut for those who dared to dream.
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2025-03-11 12:09