Can Pi Network help the crypto market recover from difficulties?

[LogitechMouse]

For now we can't say much about this pi coin, because it was just newly launched, anything can come as a result with time over its, we just need to give it some time to see how it market performance could go well in the crypto markets and also see if it's utility exists for long term, because we have seen some projects like that that, which comes and later left because of related challenges faced by them after successful launch.

I did look at some of it's use cases, and I would say that it's somewhat good. I mean I looked online and here are some of the use-cases.

1. Payments for the merchants
2. Decentralized Applications (DApps)
3. Blockchain interoperability
4. Node participation (through mining I guess)
5. Peer-to-peer transactions

Looking at those, I would say that the project has a good future. It's just that, there's a huge skepticism around the project because of how long it took for them to launch the mainnet. Another one is that, their token is highly overvalued and I've said it many times, and I will say it again. Right now, the token is below a dollar already, and there isn't much demand on it as well. As times pass by, more tokens will be unlocked and most of them will just sell it hence, pushing the price to go down even further.

My prediction on the price? $0.314

[dave_strider]

This idea that Pi Network could make the crypto market more difficult feels like a stretch. Pi has a massive user base, sure, but translating that into actual market impact is another story. 

The real question is: does Pi have enough credibility and liquidity to move the market? Right now, it seems more like a speculative experiment than a true game-changer. If its listing creates a sudden wave of new traders, we might see short-term volatility, but long-term? Hard to say. 

Are we overestimating Pi's influence, or could it actually shift the market dynamics?

I put my money on the first option.

[JISAN]

My prediction on the price? $0.314

You are a genius bro. I myself made a similar prediction but my prediction was at a lower price.  The pi's hype is starting to die down and its price has already gone below $1 today. It hit $0.86 down. Gradually its price will decrease further as the market cap of this coin is not expected to exceed $1B. Many are expecting a lot from it and investing a good amount of money.  In the end they will lose a lot if they hold on to it for a long time.

[omori]

My prediction on the price? $0.314

You are a genius bro. I myself made a similar prediction but my prediction was at a lower price.  The pi's hype is starting to die down and its price has already gone below $1 today. It hit $0.86 down. Gradually its price will decrease further as the market cap of this coin is not expected to exceed $1B. Many are expecting a lot from it and investing a good amount of money.  In the end they will lose a lot if they hold on to it for a long time.

More time is needed to see through the hype.
But I agree with your takes, for now, the price is bloated and rightfully corrected.

[erus]

Btw what was you guys' lockup duration? Mine is 6 month. So even if it gets approves today, I'll have to wait another 6 months to be able to use the coins, Lol. The drama goes on...

9 months for me, that's why I'm not so enthusiastic about the locking period that I didn't specify but it was automatic in my account, PI is full of drama for me, it's hard to reach if he really gives money for free

9 months is not a short time and it is certain that a lot of time has passed. If we plant corn in the field in 9 months, maybe 18 harvests will be done because as far as I know, corn only needs about 2 months to be harvested.
PI coin with a duration of 9 months, I think it's just a waste of time, it doesn't make sense. I also, if I were in your position, would definitely be disappointed if PI coin held an event but didn't pay us or only paid a few rewards.

~snip~
I mean look at other platforms where KYC is required, have you heard it took 2 years? Nope!

I also think comparing it with the KYC system of centralized exchanges like Binance, OKEx or whatever, which usually approves KYC around 1x24 hours. And I think 1x24 hours is also a bit too long because if our personal data is correct and checked by the system automatically, it should be approved immediately.

And PI's KYC is almost 2 years, I think this is a disproportionate idea for a business in crypto unless PI wants to cheat its supporters by playing with KYC. I think this is very strange.
That's why I currently don't really applaud PI because the fact is that in the field, it seems like many of its supporters are very disappointed with PI coin.

[DYING_S0UL]

I also think comparing it with the KYC system of centralized exchanges like Binance, OKEx or whatever, which usually approves KYC around 1x24 hours. And I think 1x24 hours is also a bit too long because if our personal data is correct and checked by the system automatically, it should be approved immediately.

And PI's KYC is almost 2 years, I think this is a disproportionate idea for a business in crypto unless PI wants to cheat its supporters by playing with KYC. I think this is very strange.
That's why I currently don't really applaud PI because the fact is that in the field, it seems like many of its supporters are very disappointed with PI coin.

I think this is absurd, ridiculous, hilarious, and I ran out of words. They have been giving same stupid excuses from the very beginning with no clear roadmap with no real intension for the development for the project. Waiting for 2 years for a mere KYC approval is a complete joke. I understand there might be millions of active users, but even with that, a simple KYC wouldn't take this much time. At this point this is getting too much.

I mean just look at their app development. They developed their app for several years now but still it doesn't work properly. These behavior clearly shows their incompetence and lack of seriousness. Anyway, I wouldn't be too surprised if this project scams or sells users KYC data. 

[MUGNIA]

Btw what was you guys' lockup duration? Mine is 6 month. So even if it gets approves today, I'll have to wait another 6 months to be able to use the coins, Lol. The drama goes on...

9 months for me, that's why I'm not so enthusiastic about the locking period that I didn't specify but it was automatic in my account, PI is full of drama for me, it's hard to reach if he really gives money for free

9 months is not a short time and it is certain that a lot of time has passed. If we plant corn in the field in 9 months, maybe 18 harvests will be done because as far as I know, corn only needs about 2 months to be harvested.
PI coin with a duration of 9 months, I think it's just a waste of time, it doesn't make sense. I also, if I were in your position, would definitely be disappointed if PI coin held an event but didn't pay us or only paid a few rewards.

Therefore, what makes me disappointed is that the PI automatically locks my PI if I pass KYC, the remaining amount that can be sent is only around 10% of the income.

[Mr. Magkaisa]

For now we can't say much about this pi coin, because it was just newly launched, anything can come as a result with time over its, we just need to give it some time to see how it market performance could go well in the crypto markets and also see if it's utility exists for long term, because we have seen some projects like that that, which comes and later left because of related challenges faced by them after successful launch.

I did look at some of it's use cases, and I would say that it's somewhat good. I mean I looked online and here are some of the use-cases.

1. Payments for the merchants
2. Decentralized Applications (DApps)
3. Blockchain interoperability
4. Node participation (through mining I guess)
5. Peer-to-peer transactions

Looking at those, I would say that the project has a good future. It's just that, there's a huge skepticism around the project because of how long it took for them to launch the mainnet. Another one is that, their token is highly overvalued and I've said it many times, and I will say it again. Right now, the token is below a dollar already, and there isn't much demand on it as well. As times pass by, more tokens will be unlocked and most of them will just sell it hence, pushing the price to go down even further.

My prediction on the price? $0.314

       -       My prediction is that if it drops to $0.61 or goes below this price, it could drop to $0.27 and if it goes even lower, it could crash to $0.005 and only then will I buy it, but it doesn't mean that I believe in its potential. So win or lose, it's fine, no problem for me. Did you know that Binance did not include Pi in its platform list?

Mubarak and WHY are listed more on Binance than Pi, honestly the use cases I see for it seem like it's just a front but not long-term,
just so that it can be said to have a use or utility.

[DYING_S0UL]

Therefore, what makes me disappointed is that the PI automatically locks my PI if I pass KYC, the remaining amount that can be sent is only around 10% of the income.

They tricked us in locking the tokens, mate!:-X

Who would have thought the lockup period would start after the tokens are migrated to the mainnet, but not before. There is another catch to it. As far as I know, even if you pass the KYC right now, it doesn't guarantee that all of your tokens will be migrated to the mainnet in an instant. And after the migration the timer would start. I mean there are waiting period in every steps. Lol...

First wait years just to get permission for doing KYC, after the KYC documents are submitted then wait again, and after the KYC get approval wait again for the token to migrate. I mean it's a long list of waiting, it doesn't end...

[Ambatman]

My prediction on the price? $0.314

That's very optimistic
Lol the number of unlock coins Is massive compared to this bucket of water.

It surprised me when people were screaming it would surpass Bitcoin
I nearly died of laughter
Ethereum and other giants didn't, how could Pi surpass Bitcoin when a proclaimed decentralized system is asking for KYC and locking users funds.
I won't be surprised if the locked funds are withdrawn and dumped by the team

One of their roadblock is Binance not listing the token
Binance whose standard has reduced as of late still rejected listing them. Wow.


To OP question, No major name is really taking it serious
So I don't see how it could
Except Trump adds it to strategic reserve (that would be funny)

[erus]

I also think comparing it with the KYC system of centralized exchanges like Binance, OKEx or whatever, which usually approves KYC around 1x24 hours. And I think 1x24 hours is also a bit too long because if our personal data is correct and checked by the system automatically, it should be approved immediately.

And PI's KYC is almost 2 years, I think this is a disproportionate idea for a business in crypto unless PI wants to cheat its supporters by playing with KYC. I think this is very strange.
That's why I currently don't really applaud PI because the fact is that in the field, it seems like many of its supporters are very disappointed with PI coin.

I think this is absurd, ridiculous, hilarious, and I ran out of words.
~snip~

Among my assessments of PI coin is the same as yours, it is very ridiculous and doesn't make sense.

~snip~
Anyway, I wouldn't be too surprised if this project scams or sells users KYC data. 

This is what is feared from the crypto environment, our KYC data can be traded and this is very dangerous.
The centralized system of PI that uses KYC for a reward is contrary to the principle of decentralized crypto.
Since the first PI coin research, among the negative things that I remember until now, namely KYC.

Btw what was you guys' lockup duration? Mine is 6 month. So even if it gets approves today, I'll have to wait another 6 months to be able to use the coins, Lol. The drama goes on...

9 months for me, that's why I'm not so enthusiastic about the locking period that I didn't specify but it was automatic in my account, PI is full of drama for me, it's hard to reach if he really gives money for free

9 months is not a short time and it is certain that a lot of time has passed. If we plant corn in the field in 9 months, maybe 18 harvests will be done because as far as I know, corn only needs about 2 months to be harvested.
PI coin with a duration of 9 months, I think it's just a waste of time, it doesn't make sense. I also, if I were in your position, would definitely be disappointed if PI coin held an event but didn't pay us or only paid a few rewards.

Therefore, what makes me disappointed is that the PI automatically locks my PI if I pass KYC, the remaining amount that can be sent is only around 10% of the income.

Again and again, the problem is with the user.
KYC, KYC Approve 2 years, rewards cut to -90%.
I think this is out of control and maybe if I were in your position I would be very disappointed. This is so ridiculous.

[Bobcrypto]

You have the same thought as me, I also just consider PI a memecoin in this market. It doesn't have much value besides the fun and great expectations of the tens of millions of people in the community. Many older people want the price of PI to rise to hundreds or thousands of USD, which is clearly an illusion.

PI has a total supply of 100B tokens, which also hinders its price explosion. The value of the Pi ecosystem is still much smaller than other ecosystems, I even think it doesn't deserve to be in the top 100.

The market will determine PI's price, and we're seeing PI price being held around 2 USD instead of exploding as PI holders had hoped. I think gradually, FOMO will disappear, the market will return to balance, and PI will exist like memecoins.

I hope that PI holders will be able to learn about other tokens and other ecosystems. The crypto market always welcomes 70M investors from Pi network!

One factor that must be remember by every crypto holders, traders, or investors is that bitcoin absolutely drives the entire market prices all the time, and there is no amount of hype, speculations or demands that will automatically make PI coin continue increasing.
As it stands now, the hype is gradually going down, the volume is also dropping and the price has alliened with the Bitcoin price trends. There is currently no more strength on the PI market movements. Shorters are the gainers, I just hope some fresh demands will enter the market to reduce excess supply from the miners rewards and others

[MUGNIA]

Btw what was you guys' lockup duration? Mine is 6 month. So even if it gets approves today, I'll have to wait another 6 months to be able to use the coins, Lol. The drama goes on...

9 months for me, that's why I'm not so enthusiastic about the locking period that I didn't specify but it was automatic in my account, PI is full of drama for me, it's hard to reach if he really gives money for free

9 months is not a short time and it is certain that a lot of time has passed. If we plant corn in the field in 9 months, maybe 18 harvests will be done because as far as I know, corn only needs about 2 months to be harvested.
PI coin with a duration of 9 months, I think it's just a waste of time, it doesn't make sense. I also, if I were in your position, would definitely be disappointed if PI coin held an event but didn't pay us or only paid a few rewards.

~snip~
I mean look at other platforms where KYC is required, have you heard it took 2 years? Nope!

I also think comparing it with the KYC system of centralized exchanges like Binance, OKEx or whatever, which usually approves KYC around 1x24 hours. And I think 1x24 hours is also a bit too long because if our personal data is correct and checked by the system automatically, it should be approved immediately.

And PI's KYC is almost 2 years, I think this is a disproportionate idea for a business in crypto unless PI wants to cheat its supporters by playing with KYC. I think this is very strange.
That's why I currently don't really applaud PI because the fact is that in the field, it seems like many of its supporters are very disappointed with PI coin.

1x24 hours should be enough to review the data we entered, yesterday I tried to re-KYC at the beginning of the year because my apk was deleted and until now it is still in the review stage and my transfer period to minet will expired in 11 hours if KYC is not approved then the tokens I have will not be able to be sent to the mainet, I don't know what the final goal of this project is, will it be proven that it is said that the price can exceed bitcoin to price

[omori]

For now we can't say much about this pi coin, because it was just newly launched, anything can come as a result with time over its, we just need to give it some time to see how it market performance could go well in the crypto markets and also see if it's utility exists for long term, because we have seen some projects like that that, which comes and later left because of related challenges faced by them after successful launch.

Usually, such projects die out pretty fast due to not sustaining the momentum put into them.
We will see whether it will be the same case here 

[Mr. Magkaisa]

         -      But the only thing I can really say about pi is that their communities are like a cult because here in our country they have a place that they went to that they even lit a candle at their Pi event that I can't help but feel like it's a cult to me.

Now about the price, well this picture that you can see below is my simple analysis observation on pi in the direction of its price.