I have 556,011 Useless Pi Network Coins

I have 556,011 Useless Pi Network Coins

Pi Network: https://minepi.com/MagicTuna and use my username (MagicTuna) as your invitation code.

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Yubico 5C keys: https://amzn.to/4in1VKV
Yubico (Multi-Factor authentication) Key: https://amzn.to/420B29S

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I want to show you something crazy if you are interested or even know of the Pi Network. I have over 500,000 pi tokens on my phone but not even 1% of these coins have migrated into the Mainnet.

Meaning that most of these tokens are useless and will eventually disappear. In fact, most of the tokens that have migrated into the mainnet for me are the ones I personally mined and not any of my referrals. These coins were also moved to my actual wallet as early as 2022 when the option was first available on the app to KYC or verify your identity. As you can see, out of the more than 500,000 coins, I have only 1,000 coins that are usable and that I could potentially use and trade on other platforms. This is strange since roughly 5,200 people are a part of my network and so many of these members have KYC’ed themselves.

I honestly have not been on this app in a while but I have seen that others have migrated much more compared to me and my migration rate is historically low, most likely the lowest ever. Even if only 10% of these tokens were verified, I should have 50,000 coins. But as you can see, my actual rate is around .2%.

If you are wondering why I have so many coins or sign up, I made a video about this platform a while back and it went viral and I went with the hot hand and made some more. This eventually led to over 5,000 people signing with the app using my referral link. What is interesting is that out of these 5,000 people roughly 10% of the individuals are still mining and many are still engaged in group chat within the app. It also does not make sense to me that the last time any coins moved into my wallet was 2022. This means that I earned zero coins over the last 3 years or so. I am not sure if this is how it normally works.

I am not sure if this is the case for others. Let me know in the comment below but it is disappointing. Although I sent an email to the developers, I doubt I will be able to get a response to why the last coins that migrated for me was in 2022 or why with over 5,000 referrals, most of the coins that I have are ones that I have personally mined. It is what it is at this point for me. There is not much tools I have left at my disposal, but this also leads to a rather interesting question for many people who have been on this platform for a while, since Pi will finally be open to trading and converting into cash on the 20th of this month.

Pi coins have been trending on certain platforms even reaching the trending list on platforms like crypto.com. It is the most added and most popular within the last 24 hours. Alongside Thump coin.The prices currently have been ranging between $50 to $70 per coin as well. Even though it is bad news for me personally that most of my coins have not been able to migrate, it does spell good news for other people who use the platform. As I talked about this in past videos, one of the biggest problems with this platform is the potential large supply of Token upon release. However this amount has been much lower than expected. It might even be the reason why I have such a low balance. According to the Pi network block explorer where you can see transactions. The total amount of migrated and locked Pi is roughly only 10 Billion.

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49 Comments

  1. Nothing out of the ordinary that I can see. Unverified balances have not been calculated and migrated yet. Also you have to actively mine to get coins. If you "haven't used the app in a very long time", no coins would have been mined over that time.

  2. Crazy theory here- so im pretty sure the reason they havent migrated your (or mine either) referrals over or any of out pi coin is because there were too many coins mined and they are having to basically burn everyone possible before people realize there are more coins mined then the total supply allows. My initial migration of 2700 coins was in 2022, my entire team has kyc'd minus 2 that passed away and still it shows 2500 coin unverified and only 50 able to be transferred. Think about it. Makes sense right?

  3. You have really been paying low attention to this and making it for video content. All of your questions can be answered and all of your problems avoided had you read the whitepaper.

  4. That is because you decided to add people to a security validation circle , which contained people you didn't know or trust. That is completely your fault.

  5. Lol many years ago, I told people the unverified coins are b.s. they make you to stake 200%. So you will spend money for extra 100%. Staking only help you to boost the mining speed. With the extra 100% you bought for staking, how many extra pi would you get from mining reward? Maybe less than 5 a month. So if everyone stake, who is dumping now? The price will hit you hard and give you a big lesson.

  6. The founders are a joke. They had six years to get this right and they totally botched this project. A token that loses 99.86% of its value on its official launch day is a failure. Six years and where's the ecosystem? Where are all the nodes? What have they been doing this whole time?

  7. i honestly think the “unverifiable balance” was done on purpose to control supply. not a bad idea to control supply and keep the price and price possibility much higher.

  8. I have learned to live with the fact that my unverified balance will remain so while my other referrals won’t or don’t intend to pursue KYC. There must be a way to compute for my transferable balance even for those who had their KYC in my security circle. Otherwise, this is chaos and I hope the Pi Core Team is working on it now. Better for those who did not do the inviting in this regard.

  9. The latest data reveals that the Pi Network core team controls approximately 62.8 billion pi tokens in six wallets

    According to data from PiScan, the Pi Network core team currently holds the majority of the total supply of pi coins. While such concentration may be necessary during the early stages of network development, it also raises significant concerns about the future decentralization of the project.

    The concentration of the Pi token supply in the hands of the core team raises concerns

    The latest data reveals that the Pi Network core team controls approximately 62.8 billion pi tokens in six wallets. Additionally, around 20 billion tokens are held in roughly 10,000 unlisted wallets belonging to the team. This brings the total supply held by these entities to around 82.8 billion. It represents a large part of the total maximum supply of 100 billion.

    Further complicating centralization issues, the Pi Network currently operates with only 43 nodes and 3 validators globally. In contrast, more established blockchains, such as bitcoin, operate with more than 21,000 nodes. Moreover, ethereum has over 6,600 nodes, and solana has about 4,800 nodes. The limited number of nodes and validators means that control over the blockchain is concentrated in the hands of a few entities. Therefore, Pi Network is significantly more centralized than the established competition. This lack of transparency adds another layer of uncertainty.

    – Analyzing Pi Network source code and data on the blockchain is currently challenging due to incomplete openness – PiScan announced on X.

    Meanwhile, Pi Network has also raised concerns about privacy and third-party involvement. In a 2025 privacy policy update, Pi Network disclosed that it uses ChatGPT for its Know Your Customer (KYC) process. This feature was not mentioned in the previous version of the policy.

    – We use ChatGPT, as a trusted AI partner, to automate identity verification and improve security measures. By using our KYC services, users agree to use ChatGPT and other AI providers that may be implemented later, as part of our KYC process – the document states.

    The introduction of AI into the KYC process brings a new layer of complexity to the way user data is shared and processed. These concerns add to the growing list of issues surrounding the Pi Network. The community has previously highlighted technical difficulties during the migration to the mainnet. In addition, many users, frustrated by the long lock-in period and limited immediate access to their tokens, are trying to sell their accounts.

    This dissatisfaction has resulted in a sharp decline in the popularity of the Pi Network. According to Google Trends, search interest for ‘Pi Network’ has dropped significantly since the mainnet launch on February 20. On the day of the launch, search interest was 100, indicating a peak in public attention and excitement around the event. However, this figure has fallen to just 12 at the time of this report, reflecting a sharp decline in interest.

  10. Maybe they r thinking u did it with some foul play..but obviously u earned it..if they saw ur video they might have believed it but their team never replies much to users

  11. how is it I have 30 PI transferable and you have only 24? I will believe this thing is real when it happens. Can anyone say they have made a dollar of fiat on this yet? No scammers, I want receipts. So no Johnny's saying "Dude I cashed in! Use this link and…. "

  12. I've got 1k+ coins too, but unlike you, 1k is not enough for me, looking to get as much as possible. At least 100k 😂😂😂 I've been mining since 2020, and not even a single one of my team of 8 KYCd as hard as I tried to get them to, now Im left with 1078 Pi migrated, when I should be having about 1835 now. It's so heartbreaking.

  13. You completed your kyc very early when non of your refferrals completed it at that time. That's why your only pi which was migrated are those which you earned yourself. The remaining Pi coins will be migrated once all the users kyced their pi or some of them. That's the problem with your coins, you should have wait and kyced at last with that much refferals bro 🙂

  14. the grace period for the kyc relating to previous unverified is coming to completion, the core team announced towards pi day "14/3/2025 uk date struct" "3/14/2025 usa date struct" 8 days from now. its part of the tuning process, aswell as to weed out those with multiple/fake/unverified accounts, as this is against the terms and conditions of the pi network. 🙂

  15. I only got 15 people on my mining team with 5000 total coins mined and I already have over 1080 fully verified and in wallet. It's not Pi, it's you. You're not understanding the basic fundamentals of how this works and none of you members kept mining or did KYC.

  16. the coins from the "10%" currently mining or that have finished KYC will transfer in Pi Day. It's not a mystery as this is when the next big migration happens.

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