In the past 2023, we have witnessed the rise and destruction of many myths. Especially in the currency circle, people have created many "wealth-making myths", causing the price of cryptocurrency to fluctuate continuously. These cryptocurrencies are promoted as having "ten times" or even "hundred times" appreciation potential, attracting a large number of investors. However, many investors end up becoming someone else’s stepping stone to financial freedom.
When I was searching for PI yesterday, I saw an introduction to the Pi Chinese community, which really made me laugh and cry. They actually said that the consensus price of PI can reach 314-314159 US dollars. They are crazy about money! Even MLM projects don’t dare to quote like this.
Let’s calculate what it would be like if PI could really reach this price. Assuming that there are 35 million PI miners now, and each person holds an average of 100 PI coins, then the circulation of PI coins is 3.5 billion. If a PI coin is really worth $314, then the total market value of PI will exceed $1 trillion! Then isn’t the PI coin we have worth $3.14 million? That’s true wealth and freedom!
But is it realistic? Who will take over? The Federal Reserve? I think everyone needs to think calmly. The total market value of the entire cryptocurrency market is now only US$1.3 trillion, while Bitcoin’s market value is US$856.7 billion. If the market value of PI really exceeds these, then it will definitely be the number one currency in the universe. But the question is, is this possible?
Is pi coin decentralized?
First, we need to understand what a PI project is. Many people think that the PI project is a blockchain project, but in fact it is not. The current PI project is more like a centralized project, attracting people under the banner of blockchain. Everyone knows that the characteristic of blockchain is open and transparent data, but PI data is actually stored in a centralized database, which means that its data is not public.
Moreover, PI coins cannot be regarded as real cryptocurrencies. It is more like APP points than a digital currency with value.
There are many people now waiting for the mainnet of the PI project to be launched. But I think the mainnet of the PI project may never go online. Because once the mainnet is online, it means that the truth about the PI project will be exposed. At that time, people will find that PI coins are actually worthless, and no one is willing to take over. In this way, the PI team can no longer make money through PI coins.
Therefore, the PI team actually has no motivation to launch the mainnet. They can now make money by relying on everyone's advertising, and the annual advertising fee is estimated to reach tens of millions. But this will all end if the mainnet goes online.
This is why the PI project has been launched for almost four years without any major updates. The biggest update is that the mining page has the function of advertising. Because such updates can bring them revenue. Therefore, everyone must understand that the PI project is not actually a real blockchain project, it is just a scam with empty hands.
Pi Coin is very popular now, but some pyramid schemes are also using it to deceive people. These people will take advantage of people's confusion about things they don't know to defraud people out of money. Therefore, many people have become wary of this currency. But because it is available for free, many people still use it. At that time, some people said that tens of millions of people were using this currency. Although free things can be played casually, they cannot be blindly promoted, let alone bragging. Some people have exaggerated the PI coin, saying that it has been launched and is ranked number one in popularity. This is completely nonsense.
PI Coin is listed on the exchange
Previously, there were rumors in the market that Pi Coin was going to be listed on the Huobi Exchange, but later I heard that the two parties had not reached an agreement on the price. As a result, the Pi Coin project came out to clarify that the Pi coins on the exchange this time had nothing to do with them. Before Pi coin was officially launched on the main network, in December 2022, some exchanges began to trade in the form of IOU of Pi coin. Judging from the Pi coin price chart on the Huobi Exchange, in December 2022, one Pi coin can be sold for up to several hundred dollars. But as time went by, the popularity of Pi coins gradually decreased, the price began to plummet, and the price continued to fall.
In addition to the Huobi trading platform, many so-called "Pi coins" have also emerged on other platforms. Have you ever been misled by someone into thinking that these coins are already online? Now let's take a look at these so-called "Pi coins". They are just some dogecoins named after Pi coins. Once they go online, the price will plummet. No matter what price you buy at, you may be stuck.
After many consumptions, Pi, a sign-in currency, has gradually lost people’s attention. As its popularity gradually waned, major exchanges became less interested in it. Even if it is listed on some small exchanges, it is difficult to obtain the ideal trading volume. It is more like promoting these exchanges and unable to meet the expectations of the project party. This is one of the reasons why Pi coin has not been able to go online as scheduled. Because the project team has foreseen that once a project like PI coin is launched, it may face a lot of selling pressure, and it will be very difficult to cut leeks. In contrast, currently making money by charging advertising fees is more stable and comfortable.
PI coins are the hardest hit area for fraud
Recently, a virtual currency called π coin has been used to guide the elderly to participate through fancy publicity. If you have elderly people at home, please pay attention!
On August 18, while carrying out the "One Standard, Three Reality" work, the police of the Yong'an City Public Security Bureau discovered that someone was explaining "π coins" to a group of elderly people in a shop in Yanxi Street, Yong'an City, claiming that π coins could be mined for free. The market value of mine income may increase dozens or thousands of times through transfer transactions.
The police interviewed the relevant person in charge on the spot and clearly informed them of the legal consequences of engaging in pension fraud and other related illegal and criminal activities. At the same time, relevant knowledge on preventing pension fraud was disseminated to the elderly on site. The non-compliant business practices in the store have been handed over to the Market Supervision and Administration Bureau for investigation and handling.
I don’t understand how these people have the passion to spread news about various PI coins, and how do they associate it with the past? It used to be PI coins, but now it’s ice coins. Many evangelistic accounts are full of fake news. ,Different kinds. Then many retail investors are so passionate about participating in various evangelistic meetings.
Again, you can play with it, and sell it if you make a profit, but you can’t spend money to buy it. You can play with pi coins for free, and I’m not saying you can’t, but you don’t want to harm others for personal gain, especially if you let others buy them with money.
