Core Viewpoint - The article discusses the growing concern regarding the Pi Network, particularly its targeting of elderly individuals through promises of free mining and potential wealth, leading to significant emotional and financial consequences for families [1][2][3]. Group 1: Pi Network Operations - Pi Network is presented as a new cryptocurrency project that allows users to mine Pi coins for free using their mobile phones, attracting many elderly users who are drawn by the promise of future wealth [5][6]. - Users are required to participate in in-person training sessions to exchange their Pi coins for fiat currency, which raises concerns about the legitimacy of the operation [7][8]. - The training sessions are highly secretive, with strict rules against sharing information, and participants are often older individuals, indicating a targeted marketing strategy [6][7]. Group 2: User Experiences and Concerns - Many elderly users, like Mr. Li's father, have become deeply involved in the Pi Network, leading to familial conflicts and emotional distress [2][3]. - Reports indicate that some participants have gone missing or have become unresponsive after attending these training sessions, suggesting potential manipulation or coercion [9]. - The financial model of the Pi Network relies on participant fees for training, which can range from hundreds to thousands of yuan, raising questions about the sustainability and ethical implications of the operation [9][17]. Group 3: Market and Financial Implications - As of late September 2023, the value of Pi coins is approximately $0.26 each, and the actual liquidity of these coins is limited due to a high percentage being locked up [16]. - The project’s revenue model appears to be based on advertising rather than the actual trading of Pi coins, which may not provide a viable long-term investment for users [16]. - Concerns have been raised about the potential for scams targeting elderly individuals, with reports of organizations encouraging them to invest in expensive equipment or courses to enhance their mining capabilities [17][18].