So the Social mining application Pi is launching it's main net tomorrow amidst huge excitement.
I am very sure there will be many Hivians who have mined Pi in the past and perhaps still do at this present time.
I tried to KYC on numerous occasions without success... and most of my 'security' group had the same problem. Finally yesterday after jumping through many hoops my KYC was finalised. For the record I have a few thousand Pi
This may well be a long post but bear with me. Below are some of the articles around Pi mainnet launch. I have never seen such euphoric expectations since the days of Bitconnect. Below are some of the headlines ..... and of course Price Predictions
Could Pi Coin Hit $500? Open Mainnet Launch And Binance Listing ...
4 hours ago - Pi Network will possibly shift to an Open Mainnet on February 20, 2025, which could result in Binance and OKX listings. Pi Coin's price has doubled, approaching $100, with analysts expecting a breakout. If Pi Coin gets a successful launch, exchange listings....
Full article
Pi Network mainnet launch: HTX lists official Pi coin, speculation ...
1 day ago - Pi Coin from Pi Network: With only a few days to go for Pi Network’s official mainnet launch on February 20, the cryptocurrency world is afire with speculation and anticipation. Recently, the coin gained wide acceptance as HTX, one of the prominent
Full Article
Anyway a simple search will keep you reading (and shaking your head) for hours.
NAI_BOT generated image
Let me share my take
Firstly.... Tokenomics. That dreadful beast that 98% of 'influencers' ignore or evade discussing. Along of course future token unlocks .... but that is a story for another day.
Current circulating supply 5.96B
Maximum Supply 100.00B
So in a nutshell not even 6% of tokens are in circulation with the other 94 % held by the developers for mining rewards, Community project sponsorships and 20% for the development team (20 B)
White Paper
Pre-launch price currently on LBank exchange...between $75 - $80
So based on the 'current' trading price and the tokens in circulation when this lists on the 20th February it will have a market capitalization of about $442 Billion.... STRAIGHT INTO 2ND LARGEST MARKETCAP ...USURPING ETHEREUM INTO THIRD PLACE.
Now, I know we had crazy Meme launches but even at the height of the meme craze none of those 'projects' (I use the term loosely) even came close to challenging Ethereum.
If I was in the position to .... I would slap all my tokens on at $35 and pray some greater fool snaps them up. The proceeds would just buy me a few more .... substantially few more satoshi's in the king ... BTC.
I forecast this token will be trading between 12 and 15 CENTS within a week making for a still healthy market cap of $800 million
I would love to hear your opinions... especially my friend @edje ... an astute investor who has been around the block for sure.
Thanks for taking the time to read.. please share your thoughts in the comment section.
Finally found the time to react.
First I didn't want to KYC, but eventually, I did. still waiting to get this finalised. they seem to have accepted me, but for Europeans, they need to do something in addition. I didn't realise the max supply and circulating supply. Yesterday I was pulled into my first future trading by an experienced guy. One of the tokens we played was Pi. Shorts. But in the end, the dip didn't happen. Both wondered why not, since by then we figured out the FDV. And then the runup last night while I was at sleep.
Somehow I think super whales are playing this token bcs of the narrative. Not sure what the market narrative is, but mine is to the lines of a solid team, with a great distribution method trying to not create whales, hence the KYC and stuff. A blockchain. Though ecosystem doesn't have a lot of stuff to do as we speak. But still, one of the few, perhaps the only tokens with such a distribution mechanism that is still known by the market.
I wouldn't bank on much upside from here on, due to the FDV. But then again, this token is different. Here I continue to assume, the team is legit to the max. No 'hacking' of any kind happened to create whales. And next phase(s) starting to grow the ecosystem with interesting dApps.
Thanks for your thoughts .... my Pi are still 'awaiting transfer' .... so I am not in a position to do anything. I have in total 3200 but there are all kinds of rules so in actual fact I can only utlise 750 if and when they arrive in my wallet.
They have some sriously arb ways though. The Android wallet .... no option to password protect and you need to type in YOUR ENTIRE SEED each time you access the wallet.
Besides being ludicrously cumbersome... it is also a security risk
Yeah, I noticed the whole seed phrase thing. What a joke. I mean, the went for extra lenghty SEED, but we need to constantly copy/paste that one ... pfff ... hahaha ... Just hoping with all the difficuties we had to go through, it'll worth it in the end ... worth in terms of a great ecosystem building (not that I see much yet) ... would also be good when $ value is favouring us ... time will tell.
Mine are release tomorrow.... I have 936 loose, and 2300 locked. At the current price that will nett me 0.019 BTC. That is what I am going to do.
Mine are still stuck in the KYC procedure. Something to do with regional process and them waiting until more in my region are in KYC process. I suspect they need to do something manual since I am part of EU. Am flabbergasted FDV is so high, but for sure good for you. Turn it into BTC, or perhaps stables for now? I expect more bullrun though, but not sure how deep this dip can be. Global M2 is growing, and Truflation dropped dramatically. Two indicators that suggest we may see a continuation of bullrun.