Can Pi Network help the crypto market recover from difficulties?

[KryptoBull]

After many years of waiting, the Pi community can finally see the Mainnet and trade PI on top CEXs on February 20, 2025 ^[1]. I consider this a big event because the Pi community has about 70M members globally, and the PI marketcap is ranked #11, surpassing leading projects in the market such as Chainlink, Hedera, Stellar, Avalanche, Sui, Litecoin, BitcoinCash and Shiba Inu.

This is truly insane, rarely do we see such a successful debut of a new token. The last time I witnessed something similar was the success of Internet Computer with the ICP token, although the ICP market cap is now only at position #35 after the FOMO ended.

I don't mine PI nor do I have PI in my account, so I'm back to the crypto market. BTC price has fallen below 100K USD, even retesting EMA34W causing altcoins price to drop sharply and the community is extremely scared. We are feeling bored with the sideways lack of trend of BTC as well as the whole market.

And Pi emerged noisily, broke into the top 20 on Coinmarketcap, and became the subject of many discussions. While Pi's remaining weaknesses cannot be denied, such as an unaudited blockchain, lack of smart contract support, and a very poor ecosystem ^[2,3], I thought about the positive impacts Pi could bring to the crypto market: Pi could create FOMO and help the market escape this boring phase, Pi could also turn tens of millions of holders into professional crypto investors, they will not only mine Pi for free but also buy BTC and many other potential tokens.

If this happens, I hope we will have BTC at 150K and altseason lasting until the end of 2025, bringing huge profits to worthy investors. I will still stay out and not buy PI this season, even if it might be listed on Binance, because to me PI is just a memecoin.

I would like to know your opinion on this:

• Do you believe in the PI value?
• Will you invest in PI?
• Do you think PI will provide momentum for the crypto market's resurgence?

References:
1. Pi Network mainnet launch: What it means for pioneers
2. Pi Network Issues Major Warning for All Users – Key Details Inside
3. Pi Network Drops 18% as Vietnam Authorities Issue Legal Warnings
Note:

• My opinion has been presented in a topic, on BitcoinTalk forum.
• This topic on AltcoinsTalks forum has included a minor change in the way my opinion is presented.
• This statement is to avoid accusations of plagiarism.

[ABCbits]

• Do you believe in the PI value?

Regardless of it's price and position on CoinGecko/CoinMarketCap, i still don't trust Pi Network due to these reasons,
1. Their mobile apps actually do not perform mining (as in perform some computation with CPU or GPU).
2. People can start "mining" before their network/blockchain is running.
3. You need to perform KYC to claim coin you "mined". This occurrence never happen on any decentralized PoW coin.

[LogitechMouse]

TBH, I'm surprised with how PI Network was since it got launched then I realized that there's a token called Polkadot that went straight to the top in terms of market cap out of nowhere. I still remember that time and was skeptical.

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I would like to know your opinion on this:

• Do you believe in the PI value?
• Will you invest in PI?
• Do you think PI will provide momentum for the crypto market's resurgence?

1. My answer here will be general (at least). The value of the token or I should say the whole project relies heavily on it's community. Look at Bitcoin right now. I'm not saying that PI = Bitcoin, but the community behind PI Network is just strong enough to sustain it's price above $1 currently. Let's just see how strong the community is.

2. I have tokens that I got for free so there's no need for me to invest. On the flip side, if I will pick altcoins to hold for long term, I will not choose PI network, but I'm thinking of keeping some of it to hold for the long-term just in case (maybe around 30-50 tokens).

3. Nope. I don't think that a single altcoin can provide huge momentum towards the whole crypto market. Let alone, a new token like PI. If it's Ethereum then it could be, but PI Network? I don't think so.

[TomPluz]

Do you believe in the PI value?

I am actually mining Pi and I still have to wait for sometime before I can transfer my coins to the mainnet but just like the many who are participating in its long gestation period, it would be so hard to determine its value as it is now in the open market. There is no denying that it is now considered as a big star in the time when things are not looking so good for the whole cryptocurrency industry but as what I learned for the past many years there is no guarantee here...nobody can predict what is the future holding for Pi and we can only hope and speculate.


Will you invest in PI?

I am just a free rider and I usually don't like buying or shelling out money for any project am supporting...and the same thing with Pi. Since am not in control of the things happening in Pi I then prefer to receive what is given to me and nothing more. Surely Pi is not the next Bitcoin and anybody telling you like that is delusional.


Do you think PI will provide momentum for the crypto market's resurgence?

For sure, there is a big momentum with Pi but I don't think the same aura can be transferred to the whole cryptocurrency industry. Pi should be thankful enough that it is the one shining bright in a gloomy market.

[milewilda]

Do you believe in the PI value?
Just like on other project then i do just simply go with the flow on what are the projects value and price.

Will you invest in PI?
Definitely NO!. Whenever i do find myself being left out and seeing all time high prices on which i dont like on getting left behind and buying at the peak.

Do you think PI will provide momentum for the crypto market's resurgence?
No altcoin will be able to dictate out on what would really be the market will really be doing or behaving.

[hugeblack]

I would like to know your opinion on this:

• Do you believe in the PI value?
• Will you invest in PI?
• Do you think PI will provide momentum for the crypto market's resurgence?

NO
NO
Big NO.

Trying to consider Pi a good project worth investing in will open the door for all scam projects to continue scam, all they need is to be listed on platforms and pump the token with $10 million and congratulations to them for free profits.

[Mr. Magkaisa]

       -      Pi is just making noise now, after 1 month the noise will also decrease, and it is also not guaranteed to be any different from the previous cryptos in this industry that made noise at the beginning and then after a while were not talked about much.

Then even if its price rises, I still won't regret not buying it, I really don't see anything that it has to overtake bitcoin, I hope those who say it is influencers will first surpass Eth, Bnb, and other top altcoins that have more than 1 billion in CM market.

[target]

Did the developers already allowed the people who mined PI to move their PI coins?
A week ago one of the person in the chat that I belong said her PI coins are still locked. She couldn't even view his PI on the PI web browser so that's one thing she can't do anymore. Sending the PI coins to an exchange will be impossible. That's why I think this is really a scam coin.

If you are one of the lucky person who managed to unlock you PI coins, sell them before its too late.

[Mia Chloe]

I'm not actually convinced about Pi's value proposition. While it's impressive to see a large community and a high market capitalization, I'm concerned about the lack of auditing, smart contract support, and a weak ecosystem. The fact that Pi has become a popular topic of discussion and might create FOMO doesn't necessarily mean it will bring long-term value to the crypto market.

Basically Pi might be more of a hype-driven project rather than a fundamentally strong one. The crypto market needs projects with real-world use cases, strong fundamentals, and a clear vision for the future. As for investing in Pi, I wouldn't recommend it. There are other projects with more solid foundations and greater potential for long-term growth. I'd rather focus on investing in projects that prioritize security and decentralization.

[MrSpasybo]

• Do you believe in the PI value?
• Will you invest in PI?
• Do you think PI will provide momentum for the crypto market's resurgence?

1. I don't trust PI value. PI doesn't have a good enough blockchain or any real value for users, even for asset transfer. The biggest thing Pi has is its community, but this community is only focused on profit instead of believing in a future where Pi technology is applied.

2. I also won't invest in PI, I don't take risks with things I don't understand and don't like.

3. If this happens, that's great, I hope that the FOMO into PI will attract more investors to this market. However, I have more expectations for other drivers, for example ALTs Spot ETF, the US strategic crypto reserve fund, or the explosion of big trends such as DeFi, RWA, GameFi...

[robelneo]

The community marked this token as scam for years and how it would have the market from difficulties; people stop shilling this token and not become its doing good in the market right now that it will become a savior suddenly, There's always initial hype on some token that is listed but it doesn't mean that it will permanently perform better, A dubious token will eventually go down and be out of the market, its just a matter of time.

[Faisal2202]

If this happens, I hope we will have BTC at 150K and altseason lasting until the end of 2025, bringing huge profits to worthy investors. I will still stay out and not buy PI this season, even if it might be listed on Binance, because to me PI is just a memecoin.

I would like to know your opinion on this:

• Do you believe in the PI value?
• Will you invest in PI?
• Do you think PI will provide momentum for the crypto market's resurgence?

I did not notice Pi market cap is that high and it is on #11 by market cap, that's really amazing to know, I mean all others are too low at the moment that their market cap decreased maybe that's why Pi was able to overtake them but still the project so far is doing good I mean people are still interested and want to buy, don't want to sell, want to mine more.

Hopes of people can take it to new heights, but only if the team is willing to put more efforts into it, I was planning to run a node of Pi, few days ago, but the eligibility criteria was big difficult for me as it need a node running 24 hours that I can't do with my normal laptop so I needed a dedicated device. So I dropped the plan.

PI is really making progress and it might give 2x from the current price if things go right.

[Sim_card]

I don't fancy newly lunched shitcoins, because they don't have a solid foundation yet. I will not invest in PI since I don't know what it will ne in future. There's nothing PI presence in the market will do to add any momentum in the market. PI is the same with other shitcoins out there.

[hugeblack]

The community marked this token as scam for years and how it would have the market from difficulties; people stop shilling this token and not become its doing good in the market right now that it will become a savior suddenly, There's always initial hype on some token that is listed but it doesn't mean that it will permanently perform better, A dubious token will eventually go down and be out of the market, its just a matter of time.

This is my main problem with PI as it will be a good sign for any scammer to remarket their token and they will be PI k!ller. We will see an increase in all the projects that we thought were dead.

[bitterguy28]

Will you invest in PI?

I am just a free rider and I usually don't like buying or shelling out money for any project am supporting...and the same thing with Pi. Since am not in control of the things happening in Pi I then prefer to receive what is given to me and nothing more. Surely Pi is not the next Bitcoin and anybody telling you like that is delusional.

that is actually really smart and often times this is what i recommend to someone when they want to take advantage of any and every project they see but is not quite sure of the project they are not as convinced yet but just in case the project becomes successful just get some scraps get whatever you can people might argue that that would be a waste if the project does become successful but at least you did not have to risk any money to earn something