Pi Network Launches Amid Excitement and Concerns

The anticipation is palpable. Many people in Vietnam, for years, have been checking in daily to mine Pi, convinced that it will eventually make them millionaires.

As the launch of Pi Network's "open network" nears, many Vietnamese users are eagerly checking in daily to mine Pi, convinced that it will eventually lead them to financial freedom. Some have even recruited family and friends to join the app and expand the Pi community.

Vietnam is among the countries with the highest Pi Network engagement, and users are rapidly increasing. The mindset of "nothing to lose" has prompted some to take greater risks, such as borrowing money to acquire more accounts and mine faster.

However, some readers have raised concerns about potential risks that many tend to overlook.

"People think mining Pi is easy, but that is far from the truth," said reader Nguyen Minh Tuan. "You have to pass KYC verification, endure years of locked assets, and struggle to transfer Pi to a wallet. I started mining Pi in mid-2023, but after filtering out virtual Pi, I have only managed to transfer 500 real Pi to my wallet—300 of which were recently transferred, and only 30 Pi are unlocked for transactions. Making money from Pi is not easy—it is an extremely difficult process."

Echoing this sentiment, reader Ratranh cautioned against unrealistic expectations. "Everyone wants to make hundreds of millions of dong from Pi (VND1 million = US$39.18), hoping for a life-changing windfall," they said. "But have you ever asked yourself, ‘Who is actually going to buy all this Pi when everyone starts selling?’ Even cryptocurrencies follow the basic rules of supply and demand. If everyone is eager to sell, but few are willing to buy, what do you think will happen?"