(09-20-2022 04:07 PM)TheCowboy Wrote: [ -> ]I had forgotten about this. Still have the app on my phone with 451 coins on it. 1 coin is currently worth $0.007077. I remember when this all started that they said 1 coin would be worth $100.
Friend,
Pi is in the Enclosed Mainnet, and Pi has no value.
Pi Network is slowly doing KYC.
All pioneers must pass the KYC before moving to Open Mainnet.
Thousands of pioneers like you come back for mining, Pi.
Before that, mining Pi coins is more.
Now, mining for 3 months, you get around 170 Pi Coins.
The mining rate drops each month.
Currently, approximately 40 Million Pioneers. It will stop after reaching 100 million.
40 Million [ Each recommending 1 to 3 people ]
----------------
Date: 17 Sept 2022
According to Pi Statistics, we have 2.6 Million Pioneers who have passed through KYC.
Meanwhile, the KYC passing rate of Chinese Pioneers is only around 1%-5% of the domestic recorded. Once 80% of Chinese migrate to Mainnet, the global barter market will explode.
----------------
We are now slowly bartering/trading Pi coins for Goods and Services. The pricing is determined by both the Seller and the Buyers.
Hence, the Pi value is determined by the market, and all the Pioneers do the KYC; only then will the Pi Network consider moving to Open Mainnet. So, don't ever think you can buy Pi coins cheaply in the Open Market.
IMPORTANT NOTE:
1)Many Pioneers locked 100% of their Pi for 3 years.
2)Many Pioneers locked 90% of their Pi for 3 years.
.Etc
For
1) Pioneers do not have Pi to buy or sell Goods and Services.
2) Pioneers have 10% of their Pi mining to buy or sell Goods and Services.
Many do not know how to commit lockup configuration.
So, once the Open Market, that's not many coins.
----------------
Date: 15 Sept 2022
Pi Whitepaper chapters: Pi Token Model, Mining Mechanism, and Roadmap
Quote:https://pinetwork-official.medium.com/pi...f4a6774e71
Have an excellent day