Pi Network：多年的等待是什么？

现在，在推出近六年后，用户继续以同样的方式赚取 Pi 代币。但有一个明显的问题——这些代币不可交易，也没有交易所支持它们。

Despite launching nearly six years ago, Pi Network users continue to acquire tokens through the same method. However, a glaring issue persists: these coins remain non-tradeable, with no exchanges offering support for them. Despite the significant hype surrounding the project, the only recent development is the introduction of a tradeable Pi token on a blockchain, albeit remaining non-tradeable. Curiously, this blockchain technology has been available for several years, begging the question: why the delay?

尽管 Pi Network 已推出近六年，但用户仍继续通过相同的方法获取代币。然而，一个明显的问题仍然存在：这些代币仍然不可交易，没有交易所为其提供支持。尽管围绕该项目进行了大量宣传，但最近的唯一进展是在区块链上引入可交易的 Pi 代币，尽管仍然不可交易。奇怪的是，这种区块链技术已经面世好几年了，引出了一个问题：为什么会延迟？

As Pi Network prepares for its highly anticipated mainnet launch, reportedly scheduled for December, further details have emerged. It turns out that Pi will be utilizing the Stellar Consensus Protocol (SCP), a well-established blockchain technology created by the Stellar network.

据报道，Pi Network 正在准备其备受期待的主网发布（据报道定于 12 月），更多细节已经浮出水面。事实证明，Pi 将利用 Stellar 共识协议（SCP），这是由 Stellar 网络创建的一项完善的区块链技术。

While the implications may not be immediately clear to most users, this is a significant revelation. Instead of developing their own proprietary technology, Pi is essentially leveraging open-source code from the Stellar blockchain, which was launched in 2014, five years prior to Pi.

虽然大多数用户可能无法立即清楚其含义，但这是一个重要的启示。 Pi 本质上不是开发自己的专有技术，而是利用 Stellar 区块链的开源代码，该区块链于 2014 年推出，比 Pi 早五年。

This isn't inherently wrong - Stellar is a legitimate blockchain - but the issue lies in Pi’s portrayal of their work. They’ve led users to believe they were developing something new and revolutionary.

这本质上并不是错误的——Stellar 是一个合法的区块链——但问题在于 Pi 对他们工作的描述。他们让用户相信他们正在开发一些新的、革命性的东西。

Essentially, Pi users have waited 5 years for them to launch using someone else's 10 year old technology.

本质上，Pi 用户已经等了 5 年才使用别人 10 年前的技术推出。

No, You Didn't Mine Anything...

不，你没有开采任何东西......

While Pi Network refers to it as mobile mining, the fine print will tell you this has always been and always will be a 'simulation' - you're playing a video game. 

虽然 Pi Network 将其称为移动挖矿，但细则会告诉您，这一直是并且永远都是“模拟”——您正在玩电子游戏。

There is a way to really mine Pi tokens now, but it requires running their node software, and you'll need a real computer.

现在有一种方法可以真正挖掘 Pi 代币，但它需要运行他们的节点软件，并且您需要一台真正的计算机。

If millions of phones were actively validating transactions (mining), this wouldn't be necessary.

如果数以百万计的手机正在积极验证交易（挖矿），那么这就没有必要了。

Not Adding Up...

没有加起来...

Pi Network claims a user base of over 60 million worldwide, but this doesn’t align with the reality of only 6 million active wallets. Even more striking is that only 0.16% of these wallets show any activity—a level of engagement that's unusually low for a supposedly active blockchain.

Pi Network 声称全球用户群超过 6000 万，但这与只有 600 万个活跃钱包的现实不符。更引人注目的是，这些钱包中只有 0.16% 显示出任何活动——对于所谓活跃的区块链来说，参与度异常低。

If the "60 million" figure is accurate, it likely refers to total signups over time rather than active users. This number may include accounts created years ago, opened once, and subsequently abandoned, leading to inflated statistics that don’t reflect the current state of user engagement.

如果“6000 万”这个数字准确的话，它可能指的是一段时间内的注册总数，而不是活跃用户。这个数字可能包括多年前创建、打开一次、随后被放弃的帐户，导致统计数据夸大，无法反映当前的用户参与状态。

Pi’s Future Value...

Pi 的未来价值...

Pi fans searching for the token on CoinMarketCap were excited to find a coin labeled as “Pi” priced at $34.45. However, this is ultimately misleading. The listed coin appears to be a scam, a completely unrelated token using the Pi name and logo. The official Pi team has made it clear, their tokens cannot currently be transferred, and they have no listing on any exchange - so ignore this.

在 CoinMarketCap 上搜索该代币的 Pi 粉丝很高兴发现一枚标有“Pi”的代币，售价为 34.45 美元。然而，这最终是一种误导。列出的代币似乎是一个骗局，是一个完全不相关的代币，使用 Pi 名称和徽标。 Pi 官方团队已经明确表示，他们的代币目前无法转移，并且他们没有在任何交易所上市 - 所以请忽略这一点。

With no trading happening, all users can do is speculate, and the Pi Subreddit is full of this. Pi supporters engage in wildly optimistic price predictions. Most estimates fall somewhere in the range of $10 to $100, which is already insane.  Then there's the extremes, outliers speculating as high as $1,000 per token based on flawed reasoning like "if Pi becomes half as popular as Bitcoin." These are guesses out of thin air, based on nothing. 

在没有交易发生的情况下，用户所能做的就是猜测，Pi Subreddit 上充满了这样的内容。 Pi 支持者对价格进行了极其乐观的预测。大多数估计都在 10 美元到 100 美元之间，这已经很疯狂了。然后是极端情况，异常值基于“如果 Pi 的受欢迎程度只有比特币的一半”等有缺陷的推理，推测每个代币的价格高达 1,000 美元。这些都是凭空猜测，毫无根据。

Pi should be looked at like any other coin that gave away a large portion of it's supply to anyone willing to press a button, aka 'Tap To Earn'. If you look at what happens when these coins start to be traded, we see a huge number of holders simply unloading their supply as soon as possible, and the value immediately crashing.   

Pi 应该像任何其他硬币一样被视为将其大部分供应量赠送给任何愿意按下按钮的人，即“点击即可赚取”。如果你看看这些代币开始交易时会发生什么，我们会看到大量持有者只是尽快抛售他们的供应，而价格立即崩溃。

Here's what happened with two recent launches of tap-to-earn tokens:

以下是最近推出的两次点击赚取代币所发生的情况：

Then, there's still so many free coins still in circulation, any time the coin begins to gain value, there's a long line of people still waiting to dump theirs, keeping the price down forever.

然后，仍然有很多免费硬币仍在流通，每当硬币开始升值时，就会有一大群人仍在等待抛售他们的硬币，从而永远压低价格。

So, What Are the Pi Owners Up to? 

那么，Pi 所有者在做什么？

While they haven't sold any Pi tokens, they may have found creative ways to profit from people wanting free ones. With millions of people reportedly opening the Pi app each week to “mine” tokens by pressing a button, they’re also being served ads. This monetization model could be quite lucrative for Pi Network, especially if users are unaware they can disable the ads. On mobile apps, ad revenue can quickly add up when multiplied by millions of daily users.

虽然他们没有出售任何 Pi 代币，但他们可能已经找到了创造性的方法，从想要免费代币的人们身上获利。据报道，每周都有数百万人打开 Pi 应用程序，通过按下按钮来“挖掘”代币，他们也会收到广告。这种盈利模式对于 Pi Network 来说可能非常有利可图，特别是如果用户不知道他们可以禁用广告。在移动应用程序上，广告收入乘以数百万日常用户后可以迅速增加。

But advertising may only scratch the surface of the Pi Network’s potential revenue streams. There’s a bigger concern: user data, which brings me to my next point...

但广告可能只是 Pi Network 潜在收入来源的冰山一角。还有一个更大的问题：用户数据，这让我想到了下一点......

Privacy Concerns...

隐私问题...

When users sign up for Pi, they are agreeing to share a broad range of personal data. Pi Network collects browsing history, chat messages, comments, likes, location data (including GPS and Wi-Fi information), contact lists, device details,

当用户注册 Pi 时，他们就同意共享广泛的个人数据。 Pi Network 收集浏览历史记录、聊天消息、评论、点赞、位置数据（包括 GPS 和 Wi-Fi 信息）、联系人列表、设备详细信息、