A couple of things to begin: Do not dm me about anything ever. also, if anyone randomly DMs you about crypto, it is a scam.

You really shouldn't be using your password phrase anywhere, but if you do, make absolutely certain it is not a scam site made to look like pi's.

OK. Verified Stanford Computer Science PhD and guest lecturer (rumors he was fired are unsubstantiated) is the project leader. He is doxxed.

They have built a usable Blockchain on the stellar consensus protocol network. they are relying on users computers to verify transactions, which are called nodes. these are real people in the world using their personal computers to help build the pi network. they began in test net and now closed mainnet in order to build and test the strength of the network. this and other reasons are why it has taken so long to be built. If it is a scam, they have done a shit ton of work for nothing.

The pi that you mine on your phone is not actual pi until it is verified and migrated to mainnet and on the blockchain. once it is migrated to mainnet, it is real pi that the wallet owner owns. when open Main net occurs, you'll be able to trade pi for other currencies on the stellar network.

I have been mining long enough to remember when the core team asked our opinion on KYC. Ultimately, they decided it was better to have it available to more users, and in many territories, it is required by law.

Three known and very real VCs have funded them: Designer Fund, 137 Ventures, and Ulu Ventures.

Pi is planning an ecosystem of decentralized apps (dApps) built on its blockchain. once mainnet is open, you can build your own app if you want. this is another reason why it has taken so long, and also gives pi actual real world utility, something that is lacking in most, if not all cryptos.

So that is why it is real. whether or not it will succeed to be worth anything, we will see, there is no guarantee, but it is not a scam. everything that I've said here can be verified by anyone reading this, I do not have any insider info. boop!