Can Pi Network help the crypto market recover from difficulties?

[KryptoBull]

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.

I don't consider PI a shitcoin because it has a huge community, and we still don't have much information about its technology or solutions. I just call it a memecoin with a fun purpose for miners and holders, similar to the role of PEPE or BONK in this market

We'll wait and see, I think PI is not ready for the top #11, it should be outside the top 100 and give way to more transparent, more potential projects with more fund backing. However, I wouldn't be surprised if the PI price soon skyrockets, we can't underestimate the FOMO level of 70M Pi Network members.

[Trongduy]

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.

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.

[KryptoBull]

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!

[MUGNIA]

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.

I have PI and I have mined around 900PI, but I can't access my Pi with the problem of pending KYC, not to mention my PI is auto-locked for 9 months even though I haven't done any retention and even KYC hasn't been approved, I wonder why people easily KYC and transfer their PI to the exchange.

[LogitechMouse]

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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.

I have PI and I have mined around 900PI, but I can't access my Pi with the problem of pending KYC, not to mention my PI is auto-locked for 9 months even though I haven't done any retention and even KYC hasn't been approved, I wonder why people easily KYC and transfer their PI to the exchange.

I wonder when did you do your KYC because it took mine around 2 weeks before they approved my KYC. I'm on the migration queue right now, and just waiting for my transferrable tokens to be stored on my own wallet. As for the auto-lock feature, I guess there's a part there where you can set how much time you need to use to lock your token and how much you want to store and in exchange, an increased mining power. I put mine to the lowest so I'm mining close to 1 PI every 5 days to a week I think, and I don't care because the token's value is heavily overvalued.

As for the token being scam, I might agree with it since there hasn't been any development around the project, but one thing's for sure. The token value is heavily overvalued knowing the amount of circulating supply and it's total supply.

[Vx1]

Pi in my opinion is the same as other cryptocurreny coins, but Pi has a very large community. But even so I am not interested in Pi, I prefer other coins. Let's see in the future, how this coin develops. Will it increase, or vice versa. Because we all know the supply of Pi Network is very large.

[dave_strider]

Pi in my opinion is the same as other cryptocurreny coins, but Pi has a very large community. But even so I am not interested in Pi, I prefer other coins. Let's see in the future, how this coin develops. Will it increase, or vice versa. Because we all know the supply of Pi Network is very large.

PI will pump here and there, but it's not stable, in my opinion, and looking through other opinions too.

So it depends on whether the person is willing to take the risk.

[KryptoBull]

Pi in my opinion is the same as other cryptocurreny coins, but Pi has a very large community. But even so I am not interested in Pi, I prefer other coins. Let's see in the future, how this coin develops. Will it increase, or vice versa. Because we all know the supply of Pi Network is very large.

The total supply of PI is 100B, which will hinder its price increase since it's very difficult for the Pi ecosystem to be valued at trillions of USD. Currently, a PI price above 1 USD is already considered a success for this project, even though it's nothing to the holders who want to sell PI at 1K USD

And the tens of millions of members in the Pi ecosystem are not users or investors, they have free PI and just want to sell it to others at a high price, even though they themselves don't buy more PI at the current price. No financial model can support the long-term price increase of an asset that everyone only wants to sell instead of buy.

[Rustam Meraj]

 PI Network is new project that many people in crypto community are talking about. Idea of PI is interesting and it might make it easier for people to mine cryptocurrency. But if you are thinking of investing in PI be careful. PI looks promising but it is still new project with unknowns and risks. If PI is successful it could help crypto market grow again.

Making mining easier could bring in new people and increase its use which could be good for market. But remember crypto market can be unpredictable and is influenced by many things. Before investing in PI or any other cryptocurrency make sure you do your research are careful and understand risks. And keep in mind that some exchanges like Bybit still say this project a Ponzi scheme.

[Charles-Tim]

And keep in mind that some exchanges like Bybit still say this project a Ponzi scheme.

What I read about what Bybit CEO said about it are some old people that were scammed in China or so through Pi. But Pi developers said that it was not them but scammers. I think it means scammers are using fake Pi app to scam people.

With the huge marketcap that Pi has, it is not a ponzi scheme. But if it lose huge amount of its marketcap, it will not be a surprise for me. Just like other altcoins.

[JISAN]

I will say again that pi does not do any potential. Coins that rise in price quickly tend to fall again quickly. So trading them is like gambling. Some may make huge profits from this while others lose a large portion of their capital. So I see no logic in getting too excited about this coin. Only those who mine it for free will benefit from this.  There was a lot of hype in the market about Trump coin and many people have made a lot of profit from it.  Many others have gone bankrupt with this coin. On the other hand you can see another example FTX was the fastest growing crypto exchange. Again it went bankrupt although after many years users are getting their money back. But why would a user leave his money somewhere for several years without any benefit ?

[bettercrypto]

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.

I don't consider PI a shitcoin because it has a huge community, and we still don't have much information about its technology or solutions. I just call it a memecoin with a fun purpose for miners and holders, similar to the role of PEPE or BONK in this market

We'll wait and see, I think PI is not ready for the top #11, it should be outside the top 100 and give way to more transparent, more potential projects with more fund backing. However, I wouldn't be surprised if the PI price soon skyrockets, we can't underestimate the FOMO level of 70M Pi Network members.

There is no doubt that pi has a lot of community now, but that is not the ticket to say that it really has potential in the future, it may be as successful now, but in the future it will not be. Just like for example, I read on twitter that some people migrated their Pi to another platform and they saw that it was successful but the destination address to which they migrated their pi was still not at the destination address.

So, if we look at its market cap, it has become big, and yet with these issues they already have problems, so of course in the minds of some it is inevitable that something is being done that is not good by the management or team of pi. So it is possible to agree with what was said that Pi is not ready to be in the Top 11 stage level, especially since it was only recently listed on the crypto exchange.

[KryptoBull]

I will say again that pi does not do any potential. Coins that rise in price quickly tend to fall again quickly. So trading them is like gambling. Some may make huge profits from this while others lose a large portion of their capital. So I see no logic in getting too excited about this coin. Only those who mine it for free will benefit from this.  There was a lot of hype in the market about Trump coin and many people have made a lot of profit from it.  Many others have gone bankrupt with this coin. On the other hand you can see another example FTX was the fastest growing crypto exchange. Again it went bankrupt although after many years users are getting their money back. But why would a user leave his money somewhere for several years without any benefit ?

I wouldn't dare say anything about PI's future; it could be wildly successful or fade into oblivion, it all depends on its tens of millions of community members. They used to believe PI would be worth thousands of USD, but when PI listed around 1 USD, they didn't have enough motivation to accumulate at a price thousands of times cheaper.

Since I don't hold PI, I'm not pressured by this memecoin's volatility. I just hope the PI price fluctuations will bring interesting stories and positive investor sentiment: if PI succeeds, the market is prone to FOMO; if PI fails, the market confirms the memecoin purge, allowing capital to focus on truly valuable tokens.

[KincaidT]

I will say again that pi does not do any potential. Coins that rise in price quickly tend to fall again quickly. So trading them is like gambling. Some may make huge profits from this while others lose a large portion of their capital. So I see no logic in getting too excited about this coin. Only those who mine it for free will benefit from this.  There was a lot of hype in the market about Trump coin and many people have made a lot of profit from it.  Many others have gone bankrupt with this coin. On the other hand you can see another example FTX was the fastest growing crypto exchange. Again it went bankrupt although after many years users are getting their money back. But why would a user leave his money somewhere for several years without any benefit ?

I wouldn't dare say anything about PI's future; it could be wildly successful or fade into oblivion, it all depends on its tens of millions of community members. They used to believe PI would be worth thousands of USD, but when PI listed around 1 USD, they didn't have enough motivation to accumulate at a price thousands of times cheaper.

Since I don't hold PI, I'm not pressured by this memecoin's volatility. I just hope the PI price fluctuations will bring interesting stories and positive investor sentiment: if PI succeeds, the market is prone to FOMO; if PI fails, the market confirms the memecoin purge, allowing capital to focus on truly valuable tokens.

I'm not sure what's next for Pi network, it all depends on how many people use it and if it's actually handy in real life. I've seen hyped-up coins shoot up and crash hard and trading them feels like a roll of the dice. If I mined Pi for free, I wouldn't sweat it, but if I'm putting money in, I'd keep my hopes in check. I think if Pi gets useful, it could stick around otherwise, it might just flop like other flashy stuff. I'm keeping my eyes open and playing it smart in this crazy market!

[omori]

I will say again that pi does not do any potential. Coins that rise in price quickly tend to fall again quickly. So trading them is like gambling. Some may make huge profits from this while others lose a large portion of their capital. So I see no logic in getting too excited about this coin. Only those who mine it for free will benefit from this.  There was a lot of hype in the market about Trump coin and many people have made a lot of profit from it.  Many others have gone bankrupt with this coin. On the other hand you can see another example FTX was the fastest growing crypto exchange. Again it went bankrupt although after many years users are getting their money back. But why would a user leave his money somewhere for several years without any benefit ?

I wouldn't dare say anything about PI's future; it could be wildly successful or fade into oblivion, it all depends on its tens of millions of community members. They used to believe PI would be worth thousands of USD, but when PI listed around 1 USD, they didn't have enough motivation to accumulate at a price thousands of times cheaper.

Since I don't hold PI, I'm not pressured by this memecoin's volatility. I just hope the PI price fluctuations will bring interesting stories and positive investor sentiment: if PI succeeds, the market is prone to FOMO; if PI fails, the market confirms the memecoin purge, allowing capital to focus on truly valuable tokens.

Agreed.
It's the survival of the fittest, if we can say that about the market