Can Pi Network help the crypto market recover from difficulties?

[gunhell16]

It takes a long time for the tokens mined from pi to be transferable after completing kyc and may not be something everyone has the patience to do. I have been watching this project for a few years but have no experience using it. I only see in various groups that they are mining it and despite submitting their KYC, it takes a long time to meet various criteria. Seeing this discourages me which is why I have no experience working on it. However, from what I have seen, there is nothing much to be gained by mining it now. It will just be a waste of time

For those who have completed KYC, mined free PI, and have been able to transfer PI to CEXs, I congratulate them on their success! However, right now, I wouldn't encourage my friends to continue mining PI, because those efforts aren't worthwhile.

If they believe in PI's potential and value, they can easily buy PI at a very cheap price, under 1 USD, and focus on working to earn money from legitimate jobs. Opportunities exist for every token in the market, including PI, but our capital is limited, and we should choose safer tokens, for example BTC and ETH, to allocate capital wisely.

I used to mine it literally every single days! But nowadays I rarely click on mining or visiting their app that frequently, even though I get notifications every day that the 24 hour mining session is up! Tbh, it doesn't interest me anymore! I'm just waiting for my KYC to be accepted (already submitted but pending), and migrate to mainnet. After that happens I'll dump everything regardless the price. Whether it's 50 cents or 20 cents or 10 cents per token, i don't care! I have currently 600 token which should be more than enough to squeeze a I don't know maybe a hundred, to make me happy. At least I won't be going empty handed after this long 5 years (making jokes and being sarcastic, lol  ).

So until now you are still waiting for its kyc to migrate your token to pi? Just kidding, how many years did you wait and now when it comes to kyc and migration, several months have passed as if there is still no development, that's probably why many people are feeling disappointed now with the first batch that mined pi.

Anyway, I hope that at least when you get the pi, its price is still worth it, just don't let it drop to a price below 0.1$
because you have already lost a lot of value with 600 pi tokens.

[DYING_S0UL]

So until now you are still waiting for its kyc to migrate your token to pi? Just kidding, how many years did you wait and now when it comes to kyc and migration, several months have passed as if there is still no development, that's probably why many people are feeling disappointed now with the first batch that mined pi.

Anyway, I hope that at least when you get the pi, its price is still worth it, just don't let it drop to a price below 0.1$
because you have already lost a lot of value with 600 pi tokens.

Unfortunately yes! To be honest I don't even know when did I exactly joined. I'm pretty sure it has been minimum 2-3 years. I am one of the early days miner of this token. I have around 1000 (600 own+ 400 refer) token (the number seem little as I was inactive for quite some times).

For the KYC slot, I have waited for years, I lost count actually. We surely are disappointed. I may not be the first batch, but I'm damn sure I am the 2nd batch. And when i see those who joined recently got all of his steps completed that angers me the most! I mean we are the ones that deserves that but instead they kept us waiting, not months but years! Is this a joke?

[Mr. Magkaisa]

So until now you are still waiting for its kyc to migrate your token to pi? Just kidding, how many years did you wait and now when it comes to kyc and migration, several months have passed as if there is still no development, that's probably why many people are feeling disappointed now with the first batch that mined pi.

Anyway, I hope that at least when you get the pi, its price is still worth it, just don't let it drop to a price below 0.1$
because you have already lost a lot of value with 600 pi tokens.

Unfortunately yes! To be honest I don't even know when did I exactly joined. I'm pretty sure it has been minimum 2-3 years. I am one of the early days miner of this token. I have around 1000 (600 own+ 400 refer) token (the number seem little as I was inactive for quite some times).

For the KYC slot, I have waited for years, I lost count actually. We surely are disappointed. I may not be the first batch, but I'm damn sure I am the 2nd batch. And when i see those who joined recently got all of his steps completed that angers me the most! I mean we are the ones that deserves that but instead they kept us waiting, not months but years! Is this a joke?

        -     So I mean, what I read on twitter recently is correct, where it was said that none of the first batch of pi participants received their pi coins, it seems like the number of pi they have accumulated is around 3k to 10k or more, I'm not sure.

That's probably the reason why they locked the token for 2 years for the first batch of pi participants. And you're probably in the 2nd batch because if I'm not mistaken, they've been mining pi for 5 or 6 years, which is actually a long time.

[Gurujebs]

So until now you are still waiting for its kyc to migrate your token to pi? Just kidding, how many years did you wait and now when it comes to kyc and migration, several months have passed as if there is still no development, that's probably why many people are feeling disappointed now with the first batch that mined pi.

Anyway, I hope that at least when you get the pi, its price is still worth it, just don't let it drop to a price below 0.1$
because you have already lost a lot of value with 600 pi tokens.

The PI teams understand the game more than most of people that lock their coins that are either not kyc migrated or deliberately lock to get more coins because that locked coins will forever be there until they see the progress of the price, as long as the price continue to deep, the token will never get unlock because of the pressure.

The market makers are doing a great job controlling the price at this juncture but for how long, the supply of PI is too large for it to be sitting there trading at that market capitalization when it's not a meme coin and even meme coins that get that high price do later dump.

[DYING_S0UL]

        -     So I mean, what I read on twitter recently is correct, where it was said that none of the first batch of pi participants received their pi coins, it seems like the number of pi they have accumulated is around 3k to 10k or more, I'm not sure.

That's probably the reason why they locked the token for 2 years for the first batch of pi participants. And you're probably in the 2nd batch because if I'm not mistaken, they've been mining pi for 5 or 6 years, which is actually a long time.

Yes the tweets are actually true. Most of the users, I mean the old users are going through a lot of pain just to able to complete the KYC where newer members are getting approval without any struggle! I don't know if this was made intentionally or unintentionally, but we are suspecting that the team purposely doing this in order to achieve their plan! if you look at it, if all the or at least the majority of tokens migrated in the same time frame, the token would be heavily dumped (which is actually in process). Maybe this is why the team decided to let a portion of people pass KYC and keep the rest waiting. The most annoying, frustrating, disappointing part about this project is this KYC...

[KryptoBull]

The PI teams understand the game more than most of people that lock their coins that are either not kyc migrated or deliberately lock to get more coins because that locked coins will forever be there until they see the progress of the price, as long as the price continue to deep, the token will never get unlock because of the pressure.

The market makers are doing a great job controlling the price at this juncture but for how long, the supply of PI is too large for it to be sitting there trading at that market capitalization when it's not a meme coin and even meme coins that get that high price do later dump.

Many investors are alleging that the Pi core team is the one selling off tokens, causing the PI price to drop sharply recently and fail to surpass the 1 USD mark. If this is true, then PI could be the next OM, or even the next UST, causing the market to crash.

The unlocking process of PI is still ongoing and shows no signs of being affected by the price decrease or the opposition of holders. Tokenomics will continue to be respected until the entire community collectively agrees to change it to better suit the token's status in the market.

[Jujuboy]

Well, I wouldn't call PI a memecoin since it has utility, a strong community, and real use cases. I feel 'memecoin' is just a phrase this token has been holding strong so far.

[KryptoBull]

Well, I wouldn't call PI a memecoin since it has utility, a strong community, and real use cases. I feel 'memecoin' is just a phrase this token has been holding strong so far.

Hmm, I'm not quite clear on what you mean. Do you consider PI a memecoin, and why?

Personally, I haven't seen any utility for PI within its ecosystem. If we're talking about usage, DOGE has already been accepted as a payment method at many companies, yet it's still the most well-known memecoin in this market.

Pi doesn't even have its own blockchain yet, and its ecosystem is very poor. It originated from an idea and is only supported by community belief. It seems more like a memecoin than a native token of a vibrant blockchain ecosystem.

[Alone055]

Pi doesn't even have its own blockchain yet, and its ecosystem is very poor. It originated from an idea and is only supported by community belief. It seems more like a memecoin than a native token of a vibrant blockchain ecosystem.

PI does have its own blockchain, how else do you think they are migrating people to the mainnet then? Those who had mined coins through the app and completed KYC got their coins migrated to the mainnet in their wallet, and then they could send them from their to exchanges so that they can trade them, and when you are sending your PI coins from the wallet to an exchange, the network used for that is PI network, so they do have their own blockchain.

About the ecosystem and the use cases of their coin, I also agree that they don't currently have any use cases. Their coin is not accepted anywhere; it's only tradable in some exchanges, and that's it. Other than that, it doesn't have any utility so far, so even though it's not a meme coin, but it doesn't have much utility for now.

[gunhell16]

Well, I wouldn't call PI a memecoin since it has utility, a strong community, and real use cases. I feel 'memecoin' is just a phrase this token has been holding strong so far.

Hmm, I'm not quite clear on what you mean. Do you consider PI a memecoin, and why?

Personally, I haven't seen any utility for PI within its ecosystem. If we're talking about usage, DOGE has already been accepted as a payment method at many companies, yet it's still the most well-known memecoin in this market.

Pi doesn't even have its own blockchain yet, and its ecosystem is very poor. It originated from an idea and is only supported by community belief. It seems more like a memecoin than a native token of a vibrant blockchain ecosystem.

To me, it seems like I consider Pi a meme coin, then it doesn't mean that accepting payment means that it is no longer a meme coin. Because other crypto communities know that there are other meme coins that also accept dogecoin as a mode of payment, the X platform itself, as far as I know.

Although Pi has its own mainnet, and it seems that they are trying their best to do what they can for their community, I think it is still too early for what most of us in this field expect to happen.

[kai]

Currently I see the selection bar is at 71% more in the "Not Interested" option. Evidence is enough in this altcoinstalks forum that no one likes to invest in PI coins.
I myself also don't like PI coins because my friend who followed the airdrop since a few years ago (maybe 2019) has no more news about rewards from PI. The point is just disappointed with my friend's PI coin.
The hype for this PI coin also seems to be forced to be targeted by Whales so I also feel less interested in PI coins to invest or support them, this is just my own personal choice and always DWYOR for everything.

[koang]

Currently I see the selection bar is at 71% more in the "Not Interested" option. Evidence is enough in this altcoinstalks forum that no one likes to invest in PI coins.
I myself also don't like PI coins because my friend who followed the airdrop since a few years ago (maybe 2019) has no more news about rewards from PI. The point is just disappointed with my friend's PI coin.
The hype for this PI coin also seems to be forced to be targeted by Whales so I also feel less interested in PI coins to invest or support them, this is just my own personal choice and always DWYOR for everything.

The problem with all the current Pioneers is the lack of communication from the team which makes things a bit chaotic but I think PI Network is a legitimate project. And is now ranked 26th based on CMC. PI Network is becoming one of the big cryptocurrency projects.
Here is the upcoming Mainnet migration work based on network priorities.
Learn more at: https://minepi.com/blog/mainnet-migrations-roadmap-and-tokenomics/

[gunhell16]

Currently I see the selection bar is at 71% more in the "Not Interested" option. Evidence is enough in this altcoinstalks forum that no one likes to invest in PI coins.
I myself also don't like PI coins because my friend who followed the airdrop since a few years ago (maybe 2019) has no more news about rewards from PI. The point is just disappointed with my friend's PI coin.
The hype for this PI coin also seems to be forced to be targeted by Whales so I also feel less interested in PI coins to invest or support them, this is just my own personal choice and always DWYOR for everything.

The problem with all the current Pioneers is the lack of communication from the team which makes things a bit chaotic but I think PI Network is a legitimate project. And is now ranked 26th based on CMC. PI Network is becoming one of the big cryptocurrency projects.
Here is the upcoming Mainnet migration work based on network priorities.
Learn more at: https://minepi.com/blog/mainnet-migrations-roadmap-and-tokenomics/

You may be right about what you say dude, because most of the pioneering participants of pi are probably not updated with the developments happening in Pi after 6 years. This is one of the problems that have really been faced by those who first participated in pi.

But it also makes me think, it seems like what pi management is doing is poor because they are asking too many requirements from their participants, which in reality could be simple but they are making their participants suffer.

[kai]

....
The hype for this PI coin also seems to be forced to be targeted by Whales so I also feel less interested in PI coins to invest or support them, this is just my own personal choice and always DWYOR for everything.

The problem with all the current Pioneers is the lack of communication from the team which makes things a bit chaotic
....
Learn more at: https://minepi.com/blog/mainnet-migrations-roadmap-and-tokenomics/

I briefly read in the second part of this PI coin migration that as you said there was a bit of chaos in the PI core team.

Code: [Select]

Second migrations including referral bonuses
After the first migrations in the current queue are completed, second migrations will become the focus.
Second migrations will also include referral mining bonuses attributable to referral team members who passed KYC.

I have a friend who has been loyal to PI coin for a long time, maybe since the first release of information about PI coin but he had an obstacle, namely with KYC.
In the second point it also says that if you pass KYC, your coins can be migrated and the bonus can also be disbursed.

Are you also doubtful about this second point??
I think I doubt it because this second point is like a trick from the PI core team to delay coin distribution.

[koang]

I have a friend who has been loyal to PI coin for a long time, maybe since the first release of information about PI coin but he had an obstacle, namely with KYC.
In the second point it also says that if you pass KYC, your coins can be migrated and the bonus can also be disbursed.

Are you also doubtful about this second point??
I think I doubt it because this second point is like a trick from the PI core team to delay coin distribution.

As far as I know, KYC is a requirement for coin migration and has been publicized since the project launch.
KYC is an important step to verify user identity and only legitimate users can migrate their Pi balances.
If we carefully perform the KYC steps as prescribed, within a day the KYC will be approved. At least that's what happened to me.
I have also migrated, 75% of my coins have been migrated, while the rest are still locked. Now, I'm waiting for the second migration.