PI is not a scam, Heres Why:
TL;DR:
$PI’s price surge and crash were due to hype, demand-supply imbalance, and normal market cycles. Like Ethereum in its early days, PI saw a pump from FOMO and liquidity, followed by a dump as early holders sold off. Volatility is common in new crypto projects. Whether PI stabilizes or fades depends on its real-world adoption and development. Calling it a scam is premature—do your own research and avoid emotional trading.
To all the people saying $PI is a scam and assuming things while misguiding others—markets don’t move in a straight line. What happened with PI is a textbook example of hype, demand-supply imbalance, and normal market structure.
1. Hype & Early Adoption
PI Network, much like Ethereum in its early days, gained traction by promising innovation—a decentralized mobile-mined cryptocurrency. Just as ETH was doubted before smart contracts became mainstream, PI also has potential but is still in its infancy.
2. Demand & Supply Imbalance
Since many users were mining PI for years without an official exchange listing, demand skyrocketed once it became tradable. Early holders rushed to cash out, while speculators bought in, leading to a rapid price surge.
3. Pump & Dump Psychology
The sudden price jump wasn’t unnatural. Low liquidity and excessive hype triggered FOMO (fear of missing out), attracting short-term traders. Once early adopters sold their holdings, panic set in, causing a crash—again, a normal market reaction.
4. Market Cycles & Volatility
Almost every new crypto experiences extreme volatility at first. Even Bitcoin and Ethereum had major crashes before establishing their value. PI is in a similar phase where the market is still figuring out its true worth.
5. Current Situation & Future Outlook
Right now, PI is in a correction phase. Whether it stabilizes or fades depends on adoption, development, and real-world utility. If the team delivers on its promises, demand will return. If not, it will struggle like many past projects.
Final Thoughts
Labeling PI as a scam just because of a price drop ignores basic market principles. It’s too early to judge its long-term success or failure. Stay informed, avoid emotional trading, and always do your own research.
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Aicoin-EN-Bitcoincom
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Corbin Fraser Sets Record Straight on Bitcoin Cash’s Origin
Corbin Fraser, CEO of Bitcoin.com, recently addressed a common misconception within the crypto community regarding the creation of bitcoin cash ( BCH). While Roger Ver is frequently credited—or blamed—for the inception of BCH, Fraser set the record straight in a recent appearance on Vlad Costea’s podcast, The Bitcoin Takeover Podcast.
Contrary to popular belief, Roger Ver did not create Bitcoin Cash. Fraser pointed out clearly that Amaury Séchet did. Amaury Séchet, known for his leadership as the lead developer behind Bitcoin ABC (Adjustable Blocksize Cap), played an essential role in defining the initial Bitcoin Cash protocol.
Fraser provided context on the origins of BCH, starting with a pivotal Slack group named BTC Forks. “There was a Slack group called BTC forks,” Fraser recalled, describing it as a mix of “Bitcoin Unlimited people, Bitcoin XT people, Bitcoin ABC people,” and other key “big blockers” like Jonald Fyookball, Peter Rizun, and perhaps Jeff Garzik.
In the context of Bitcoin’s history, a “big blocker” is someone who advocated for increasing the block size limit in Bitcoin’s blockchain protocol from 1MB to accommodate more transactions per block. This stance emerged during the contentious scaling debate that dominated Bitcoin’s community from around 2015 to 2017, often called the “Block Size Wars.”
The BTC Forks Slack group served as an open, real-time discussion forum that existed on the periphery of the more mainstream (and slower paced) places like Reddit’s r/ BTC. Fraser recalls that after “years of trying to get a modest increase in block size,” Séchet boldly decided to take decisive action. “Amaury went full French,” said Fraser,” he was like, ‘I’m just doing it. Screw it. I’m going to do it, and if anyone wants to follow, good luck.'”
This bold initiative from Séchet galvanized support from other community members and groups such as Bitcoin Unlimited, eventually culminating in the formal establishment of Bitcoin Cash. Fraser described it as a “group effort” among numerous participants from that Slack discussion who recognized that “S2X is not happening,” anticipating a “rug pull” from Bitcoin Core proponents—a prediction Fraser said came true. S2X was a proposal to increase Bitcoin’s block size.
While Séchet began the Bitcoin Cash movement, Fraser also pointed out the complexity surrounding Séchet’s role, particularly after the BCH community fractured due to internal disputes. Séchet, according to Fraser, faced significant opposition due to his proposal for a developer funding mechanism—often dubbed a “dev tax”—and his exploration of Avalanche protocol integrations. Fraser described the ensuing split not simply as Séchet abandoning BCH but rather as a “hostile takeover” by other BCH community members, driven partly by their desire to oust the self-described benevolent dictator of Bitcoin Cash.
“I think there were enough people in the BCH community that just wanted the French man out,” Fraser explained, noting that Séchet had become a divisive figure akin to a “Donald Trump figure” in terms of community perception—controversial and polarizing. Although Fraser clarified that Séchet himself never behaved maliciously or overly combatively, community perception often painted him in that light. “I don’t think he actually went full Donald Trump,” Fraser clarified, “but I think that the perception from the community was that he did.”
The split resulted in the creation of eCash, a separate cryptocurrency spearheaded by Séchet. Fraser noted that the BCH community’s rejection of Séchet marked a turning point: “That was like the pin where I was like, ‘ BCH, what have you done?'”
Fraser lamented the repeated fragmentation within the BCH community, pointing to the eCash fork as an example of lost momentum and diluted influence. Fraser said he remembers a critic of the Bitcoin Cash fork, former Googler and Bitcoin Core contributor Mike Hearn, saying that one split would increase the likelihood of more splits, and that continual splits would stunt growth, thereby harming overall crypto adoption.
“After the BSV fork happened… and then eCash fork happened, it was just like, alright, maybe [the critics] were right all along,” he reflected. There was a silver lining.
I wouldn’t have probably become DeFi pilled, had it not been for more of those big block debates that just kept going. Man, they just kept going… I know countless people that that was kind of the breaking point for folks to say there’s more to crypto than having one team and being a monotheist. And nothing wrong with being diversified.
Fraser believes these forks drove a lot of tech-minded early adopters to Ethereum where things shipped a lot faster and in a more permissionless environment. Having lived through the paralysis of heated debates and forking, Fraser believes Bitcoin needs an innovation layer where people can ship things permissionlessly. Whether that’s drive chains or Layer twos (L2’s), building on Bitcoin in some manner is a net benefit for capturing more utility and value on the largest blockchain.
Despite the controversies within the Bitcoin and then again in the Bitcoin Cash communities, Fraser expressed admiration and respect for Séchet, emphasizing his significant contributions to the “big block” movement. “I have nothing but respect for Amaury and what he did and the work that he contributed,” Fraser stated.
As of the publishing of this article, bitcoin’s market cap is $1.7 trillion, bitcoin cash is $6.5 billion, and ecash is $448 million.
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