[ via GlobalCryptoPress.com ] At first glance, the Pi Network seemed promising — a new token backed by Stanford-educated developers, claiming technical superiority and offering free mining through a mobile app. The excitement was palpable, and since its 2019 launch, tens of millions have downloaded the app, accumulating free Pi tokens by simply pressing a button daily.
Now, almost six years after launch, users continue to earn Pi tokens the same way. But there's a glaring problem—those coins aren’t tradeable, and no exchange supports them. Despite the hype, the only recent development is that Pi now has an actual token on a blockchain, though it remains non-tradeable. Oddly, to finally launch their token they're simply implementing tech that has existed from on day 1.

So, what took 5 years? Or, does Pi Network's true business model revolve around a user base believing the 'official launch' is right around the corner - while deliberately avoiding the launch as long as possible.
Years Waiting for What?
As Pi Network prepares for its much-anticipated mainnet launch, supposedly scheduled for December, more details have surfaced. It turns out that Pi will be using the Stellar Consensus Protocol (SCP), a well-established blockchain technology created by the Stellar network.
While most users don’t understand the implications, it’s a significant revelation. Rather than developing their own proprietary technology, Pi is simply leveraging open-source code from the Stellar blockchain, which launched in 2014, five years before Pi.
This isn’t inherently wrong - Stellar is a legitimate blockchain and there's a lot of upsides to using their technology - but the issue lies in Pi’s portrayal of their work. They’ve led users to believe they were busy developing something new and revolutionary.
Basically - Pi users have waited 5 years for them to launch using someone else's 10 year old technology.
No, You Didn't Mine Anything...
Pi Network calls it mobile mining, and the "mine coins from your smartphone!" has been a major reason for people to sign up in the first place. 

But the fine print will tell you this has always been and always will be a 'simulation' - in other words, you're playing a video game. There is a way to really mine Pi tokens now, but it requires running their node software - and of course, you'll need a real computer if you want to run it.
If millions of phones were actively validating transactions (mining), this wouldn't be necessary.
Not Adding Up...
Pi Network claims a user base of over 60 million worldwide, but this doesn’t align with the reality of only 6 million active wallets. Even more striking is that only 0.16% of these wallets show any activity—a level of engagement that's unusually low for a supposedly active blockchain.
If the "60 million" figure is accurate, it likely refers to total signups over time rather than active users. This number may include accounts created years ago, opened once, and subsequently abandoned, leading to inflated statistics that don’t reflect the current state of user engagement.
Pi’s Future Value...
Pi fans searching for the token on CoinMarketCap often share their excitement to find a coin labeled “Pi” priced at $34.45. However, this is misleading. The listed coin appears to be a scam, a completely unrelated token using the Pi name and logo. The official Pi team has made it clear, their tokens cannot currently be transferred, and they have no listing on any exchange - so ignore this.
With no trading happening, all users can do is speculate, and the Pi Subreddit is full of this. Pi supporters engage in wildly optimistic price predictions. Most estimates fall somewhere in the range of $10 to $100, which is already insane.  Then there's the extremes, speculating as high as $1,000 per token guided by flawed reasoning like "if Pi becomes half as popular as Bitcoin...." These are guesses out of thin air, based on nothing. 

Pi should be looked at like any other coin that gave away large portion of it's supply to anyone willing to press a button, aka 'Tap To Earn'. If you look at what happens when these coins start to be traded, we see a huge number of holders simply unloading their supply as soon as possible, and the value immediately crashing.   Here's what happened with two recent launches of tap-to-earn tokens:

PIXELVERSE Token Chart

HMSTR Token Chart

Then, there's still so many free coins still in circulation, any time the coin begins to gain value, there's a long line of people still waiting to dump theirs, keeping the price down forever.
But really, just use your head. Ask yourself, if millions of people just got something for free, now they're saying you should want this thing too, except you will have to pay them real money for it - would you? There's nothing to motivate people who didn't get free coins, to spend their money to buy them from you.
So, What Are the Pi Owners Up to? 
While they haven't sold any Pi tokens, they may have found creative ways to monetize people wanting free ones.

With millions of people reportedly opening the Pi app each week to “mine” tokens by pressing a button, they’re also being served ads. This monetization model could be quite lucrative for Pi Network, especially if users are unaware they can disable the ads. On mobile apps, ad revenue can quickly add up when multiplied by millions of daily users.
But advertising may only scratch the surface of the Pi Network’s potential revenue streams. There’s a bigger concern: user data, which brings me to my next point...
Privacy Concerns...
When users sign up for Pi, they are agreeing to share a broad range of personal data. Pi Network collects browsing history, chat messages, comments, likes, location data (including GPS and Wi-Fi information), contact lists, device details, and more. This data can be shared with third parties, affiliates, professional advisors, service providers, and even governments.
With the introduction of Pi’s Know Your Customer (KYC) process, users are now required to submit government-issued IDs and selfies to verify their identity. This level of data collection makes Pi’s user database a goldmine for data brokers and facial recognition services.

Plus, KYC isn’t a legal requirement for projects that aren’t selling tokens via pre-sales, making Pi's decision to implement it a bit more questionable.
From a legal standpoint, it is no different from points earned in a video game — no one has traded them or purchased them, they have no known value - it's a strange situation to be requiring full ID verification for. 
The Bright Side?
To be fair - I can confidently give Pi Network the title of 'The Least-Evil Scam in Crypto". In fact, I don't think they've even broken any laws.
Unlike others, Pi Network has not asked users to invest any real money. While they may be exploiting anticipation for free crypto, collecting valuable data, and serving ads - they haven’t deceived people into losing funds.
Ultimately, while users may waste time pressing buttons, at least they haven’t been tricked into handing over their hard-earned money (but I guess they do waste the time spent earning it). 

While there are some privacy concerns, this unfortunately is so common, in most cases Pi is probably just one of several apps on users phones with privacy policies asking for way too much.

In my research for this story there was fairly large amount of people who have been pressing that button daily for years, accumulating thousands of free Pi tokens, and excited for the official launch where they believe they can sell them for $50 each.  So, the disappointment some will be feeling once the coins become tradeable seems to be the only real consequence.  

What's Next?
Pi claims this will happen in December, but if I'm correct on how they're currently profiting, the day the coins become tradeable, and worthless, is the day people stop opening up the app to 'mine' them. This means no more ad money for the Pi guys.
So - the last thing they want to do is actually launch. 

If I had to bet on what will happen this December,  I would say that Pi fans will be getting an excuse for them having to delay the launch... you know, as usual.

We'll see soon enough. Who knows, maybe I'll be eating my words as thousands of new millionaires who earned their fortune pretend-mining Pi coins mock me for being so wrong.

---------------
Author: Ross Davis
Silicon Valley Newsroom
GlobalCryptoPress.com | Breaking Crypto News

#CryptoNewss
#Bitcoin❗
#pitoken

The cryptocurrency community is buzzing with excitement over the anticipated Pi Network Mainnet launch, with Pi coin enthusiasts speculating on its future price. Predictions range wildly, from as low as $3 to as high as $40, with some enthusiasts even speculating about higher valuations. But what’s the hype all about, and what might the real value of Pi be upon launch? Let’s break down the factors driving these predictions, what people are saying, and the potential real-world value of Pi.

### What is the Pi Network?
The Pi Network, developed by a team of Stanford PhDs, aims to bring decentralized cryptocurrency mining to the masses by allowing users to mine Pi coins from their smartphones. Launched as a beta app in March 2019, the network has grown rapidly, attracting a huge number of users who believe in its potential. What sets Pi apart is its simplicity and accessibility, making it one of the few cryptocurrencies that people can mine on their phones without draining their batteries.

### The Hype Around Pi Network
There are several reasons why Pi Network has generated a tremendous amount of hype:

1. **Accessibility and Inclusivity**: Unlike traditional cryptocurrencies that require expensive hardware to mine, Pi is accessible to anyone with a smartphone. This has opened the doors for millions to participate in crypto mining, many for the first time.

2. **Community Growth**: Pi has an enormous user base, with over 35 million active users as of 2023. This strong and active community has generated significant interest in the project.

3. **Anticipation of Mainnet Launch**: Pi Network has been in its testnet phase for years, allowing users to mine Pi but without any real-world trading or financial exchange. Now, with the Mainnet launch around the corner, people are excited about the prospect of finally realizing their Pi’s monetary value.

4. **Ambitious Vision**: The Pi team has ambitious goals to create a truly decentralized ecosystem with utilities, apps, and services powered by Pi. As the project progresses towards these goals, the perceived value of Pi continues to grow among supporters.

### Price Predictions: What are People Saying?
As with any anticipated cryptocurrency launch, price predictions vary dramatically, depending on who you ask. Let's explore some of the most common price points being discussed and the rationale behind them:

#### $3 Prediction
This is on the conservative side of the spectrum, with some enthusiasts arguing that Pi could start at a lower value to allow for stable and steady growth. This prediction takes into account Pi’s massive circulating supply, assuming that a lower price point could sustain the demand while preventing an immediate sell-off.

#### $40 Prediction
On the more optimistic end, there are those who believe Pi could reach values of $40 or higher. This prediction is typically based on the assumption that Pi’s community is highly dedicated, leading to a potential surge in demand as people who couldn’t previously mine want to buy in. Proponents of this price also cite the potential use cases of Pi and the network's vision of creating a robust ecosystem, which they believe would drive long-term value.

#### Higher Predictions
Some hardcore Pi enthusiasts even go as far as suggesting values upwards of $100, based on the assumption that Pi Network will develop a vast ecosystem and see mainstream adoption. However, these predictions should be taken with a grain of salt, as they hinge on the assumption of explosive growth in both the Pi ecosystem and demand, which may or may not materialize.

### Potential Real Value of Pi
While predictions are fun to speculate, the real value of Pi will be determined by several important factors:

1. **Supply and Circulating Pi**: The Pi Network has an extensive supply. The amount of Pi in circulation at launch will play a major role in determining its price. If a large number of users decide to sell their Pi upon launch, this could create downward pressure on the price. Conversely, if the majority of users hold their coins, supply could remain limited, potentially driving the price up.

2. **Demand and Use Cases**: The demand for Pi will be influenced by the real-world use cases the Pi team can establish. If they successfully integrate Pi into applications, services, and marketplaces, the demand could be strong, which would positively impact the price. A key to any cryptocurrency's long-term value is adoption beyond speculation, meaning the Pi team will need to focus on developing partnerships and growing its utility.

3. **Market Sentiment**: Pi’s initial price will also be influenced by broader market conditions. If Pi launches during a bullish period, it could benefit from general positive sentiment in the crypto space. However, if the launch coincides with a downturn, it could face more challenges.

4. **Regulatory Landscape**: Another factor to consider is the regulatory environment for cryptocurrencies, which is constantly evolving. As Pi moves towards Mainnet, regulatory challenges could arise that may impact its accessibility and value, particularly in regions with strict crypto regulations.

### What Could the Realistic Price Be?
With the above factors in mind, a realistic price for Pi could likely fall between $3 and $20 in the early stages, given its large supply and the fact that it is entering a highly competitive market. While some are hopeful for higher valuations, it’s wise to approach such predictions with caution and acknowledge that the true value will only emerge once Pi is actively traded on exchanges.

### Why the Hype Matters
The hype around Pi is a double-edged sword. On the one hand, it has helped to build a large and engaged community, which could be instrumental in driving demand for the coin. On the other hand, overhyped projects often face challenges living up to the community’s high expectations, which can lead to volatility and fluctuations in price.

In any case, the launch of Pi Network’s Mainnet will be a pivotal moment, not just for its users but for the broader crypto community. It will be an opportunity to see whether Pi can transform its massive user base into an active ecosystem, and whether its mission to bring cryptocurrency to the masses will truly be achieved.

### Final Thoughts
The Pi Network Mainnet launch is one of the most anticipated events in the crypto world. While opinions on its initial price are mixed, what’s clear is that Pi has captivated millions and represents a unique approach to digital currency. If the Pi team can deliver on their promises, the Pi Network could indeed bring something valuable to the crypto landscape. Until then, it’s wise to maintain a level of realism and remember that the true value of Pi will be determined by adoption, demand, and the development of its ecosystem in the months and years to come.

So, will Pi reach $3, $40, or more? Only time will tell, but one thing’s for sure: the launch is just the beginning, and Pi’s journey in the world of crypto is far from over.

Don't forget to hit that like button, share this article, and follow to stay updated on Pi Network news and other exciting cryptocurrency developments! Your support helps bring more content like this to the crypto community. 🚀
#pi #Picoin #pitoken
Consider giving a Tip 🤌 That's what make's us motivated to bring u more amazing and useful content 😊