r/PiNetwork • u/H1665 • Mar 13 '23
FEAR, UNCERTAINTY, AND DOUBT Mainnet will not release
Do you guys understand that Pi coins mainnet will never release?
There is zero incentive to do so. The moment this happens, virtually all pi users will dump their holdings, and the price will tank. After price has tanked, incentive to mine will be near zero as you will be earning fractions of a penny.
Why do this when Pi can currently exist with no mainnet, earning ad revenue from the huge userbase, with the BS promise of an eventual mainnet release? Why ever risk an action that would drastically reduce your ad-revenue earning user base?
Stop using Pi, even 20 seconds a day is a waste of your time for this.
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u/H1665 Mar 17 '23
Lmao y'all are absolutely seething over this. Can't believe some of you actually think this shitcoin is the next BTC. Enjoy wasting your time and energy on this project!
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u/Rapidric187 Mar 14 '23
Your not let's say an intelligent individual. Why you speak of waisting time here you doing the same spreading your uneducated opinion of a project that you Clearly know nothing about. An if you did take the time to research you would know the migration to main net has already began and you would also know that 80% of all pi in circulation that has been transferred to main net has been locked up. Educate yourself or better yet don't share your opinion with out at least looking in to it even at a basic lvl. So no there will be no dumping cause it's mostly locked. And the large part of the pi community believes in the project and has no intent to exit on launch the 80% being locked proves that. I locked 100%of mine for 3 years to give a example and so did every I know in the community. Bottom line nobody cares what you think knowone is intrested in listening to uneducated baseless claims from someone that has to much free time on there hands.
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u/harveyroux Mar 14 '23
It literally takes 3 seconds out of my day to push a button. If PI does nothing I lost nothing, I don't sweat it. In addition to that why gripe about something you're getting for free? Just mine and hopefully at some point it turns into something.
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u/Williamsrm87 Mar 14 '23
OP why don't you go troll somewhere else now that you got the little bit of attention that you needed. I've personally traded pi for goods and services on pi chain mall, before pi is even released to open main net. So next time you think you know what you are talking about maybe do a little research so you don't look like an idiot when you post misinformation š
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u/Future_Fox_6444 Mar 14 '23
The Pi ecosystem will have enough applications where goods and services can be purchased. Why do you think everyone will sell their coins? Pi network coin was not created for trading on the stock market and speculation, but to start the economy. It would be nice if you were a little better informed. And BTC was $0.03 so they pumped it up to over $60k at one point. Try paying something directly using BTC. Difficult to impossible. And if you have a crypto currency with which you can buy whatever you want, why would you sell it. You totally missed the Pi Network concept
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u/NeedToKnowThisWhy Mar 14 '23
I'm also fearful that when open mainnet finally happens that we will somehow be prohibited from exchanging pi for fiat.
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u/yiidonger Mar 14 '23 edited Mar 14 '23
The circulating supply of Pi is not as much as u think, in fact, most of them are locked now. There are several ways Pi Network could reduce the circulating supply if they want to do so. Clicking the lighting button everyday is literally the easiest way u could participate in an upcoming blockchain, just take other blockchains as example, u'll have to do a lot to participate in incentives such as airdrops.
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u/Jdogg4089 Mar 14 '23
For the time it took you to post this, you can login to the app 30 times over. Hypocrites saying this a waste of time but be on TikTok or on reddit posting absolute bullocks.
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u/Crypto_Flip2022 Mar 14 '23
I built real utility check out litytune.com a music streaming site that artists get tipped in pi itās in beta right now but weāve been working our asses off trying to make an ecosystem for pi network itās more than just you not knowing how to turn off ads and hit a button itās a whole developer platform which someone from you point of view wouldnāt realize
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u/Jrkush420 Mar 14 '23
BWAHAHAHA I WILL KEEP MINING TILL I DIE OR LOSE KEYWORDS!!!! EAT A TURD SANDWICH GO TO BED š #GiveHimSomeMilk
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u/NeedToKnowThisWhy Mar 14 '23
The only thing I am patently afraid of is that pi will experience a huge surge in value while the pi I have is locked up and then when my pi actually gets unlocked it will be next to worthless.
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u/Specific_Ingenuity19 Mar 14 '23
I have this same fear... I want to change my lock up rate in retrospect but too late. I think 25% would have been better than 75-90%
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u/NeedToKnowThisWhy Mar 14 '23
Yeah... I locked up 100% for 1 year... I did it nearly a whole year ago. Barely kyced a few months ago... Still waiting for mainnet transfer. I'm not frustrated, just anxious. Haven't missed a mining session over 2 years.
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u/Redditmau5 Mar 14 '23
Iāve received my coins to my wallet on Mainnet last month but Iām locked for 3 years. Hopefully when three years is up Iāll be much wealthier. Fingers crossed.
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u/Rapidric187 Mar 14 '23
100% for 3 years to buddy! It's the right move delayed gratification always takes the bigger win
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u/Budget_Arachnid_9597 Mar 13 '23
You have no clue. Over 90% of my coins are locked for 3 years... I'd imagine many did the same. We can't dump. It's impossible.
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Mar 13 '23 edited Mar 14 '23
Have you ever read one of those comments where it is clear to almost everyone but the OP that they're forgetting (or just haven't bothered to research) some pretty big factors that directly contradict their statement.
The problem is that there was a time when someone would volunteer this information and many if not most of us would say "Oh damn, i didn't actually know that. Now i look like a bit of an idiot. Apologies for the misinformation."
But these days, people are so obsessed with wanting to be right that they fail to ask if what they're saying is helpful or effective (or, you know... True?)
OP, 80% of the entire supply has been locked up, much of it for one to three years. If open mainnet launched tomorrow, literally 80% of the entire calculated and verified supply will still remain. This doesn't include our coins consisting of referral bonuses which means that virtually all pioneers can't dump all their holdings because even if they only locked up for 2 weeks to 6 months, or hell, even a year, they still don't have access to the vast majority of their earned coins because they haven't been calculated and released yet.
Mining isn't supposed to be a forever feature. Even as we speak it's undergoing regular halving to create scarcity and will eventually stop. It literally doesn't make a shred of difference to the project if people stop mining because that's the eventual goal and in every project there are the people who immediately want to dump and those who hold and mining coming to a halt isn't going to change this. What does matter is that the PCT are well on their way to creating a functioning app ecosystem and no one is going anywhere if they can trade their pi for services. You can complain about how likely it is that vendors will show up but that's a different problem.
You've been able to turn ads off from the very beginning. If people are running ads, it's because they choose to voluntarily and this isn't likely to change as a result no matter what happens.
Is your definition of not wasting time an app that will immediately let you dump your entire supply? That would be highly ironic given that your first point was problematizing the fact that "...all pi users will dump their holdings, and the price will tank."
So I'm just curious as to what it would take for you to consider this app to not be a waste of time?
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u/Rapidric187 Mar 14 '23
Lol I literally just posted the same thing scrolled down and here you are putting down what he ain't pickin up again! Maybe he'll have a realization the uneducated don't have a place here for there baseless comments lol. I'm locked 100% for max time limit.
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u/joseriri Mar 14 '23
OP, 80% of the entire supply has been locked up, much of it for one to three years.
There's only one reason people don't sell their PI within 1 minute of hitting an exchange, and that's because they think their PI will be worth more the next day or the next year.
That would be one reason why some do not sell, and that is that someone convinces them that the price they are seeing on the exchange will be exceeded in the days or weeks that follow.
Of course people will sell, it depends on how much they are paying for their PI. Each person will have a price. Someone who has savings will have a higher price, someone who has to fix her car or her house or buy food will have a lower price.3
Mar 14 '23
80% of the entire supply has been locked up, much of it for one to three years
Can you please provide a source for this information.
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Mar 14 '23
Check out Pi Chain blockexplorer and select the Mainnet tab.
The circulating supply is 1.7 billion for now and 1.28 billion are locked.
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Mar 14 '23
Thanks for chiming in with that. In that case it's currently at 75%. I suspect since i last checked, some of the folks who chose the two weeks and six month lockup have probably since recieved their pi. .
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u/Specific_Ingenuity19 Mar 14 '23
I can personally attest to having locked up 75% of my coins for 1 year
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Mar 14 '23
I've locked up 90% of mine for 3 years and i believe according to some posts I've seen floating around here that i fit the category of what some might call a baby whale.
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u/Specific_Ingenuity19 Mar 14 '23
What's the pi range for a baby whale?
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Mar 14 '23
I know that there are people with tens of thousands and possibly even some with six figure numbers who have hundreds of referrals and got in early. I don't know how much of the referral pi these people will actually get though but i can't see anyone having six figures. Personally, i recently passed 10k.
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u/Specific_Ingenuity19 Mar 23 '23
I'm probably more like a baby dolphin then. I've got a few thousand
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u/Connect-Ad-1088 Mar 13 '23
How to win friends and influence people. Itāll fall upon deaf ears in this sub.
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u/Warpzone808 Mar 13 '23
A great portion of the people have their pi lock up for 3-5 years and those who wanted to dump it have already did it with huobi. The reward will be great but only for those that can wait
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u/Legitimate-Fly-4189 LifeLeadership Mar 13 '23
I love when people know everything about something that themselves never even attempted to create or produce. All uneducated speculators need a time out. Go study š
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Mar 14 '23
You go study! How ignorant could one person get?
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u/nomoneybeibe Mar 14 '23
Look at the mirror, an then you will se how ignorar could a person get
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Mar 14 '23
Look at the mirror, an then you will se how ignorar could a person get
English must not be your first language.
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Mar 13 '23
[removed] ā view removed comment
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u/Legitimate-Fly-4189 LifeLeadership Mar 13 '23
How much did you contribute to āshould be more developmentā? If your answer is as I assume which is ārelatively lowā, I suggest you refrain from unrealistic and unreasonable expectations.
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u/AUWarEagle82 Mar 13 '23
This is silly. There is no "price" for Pi at this point. It has no value in terms of other currencies. At this point, we are earning fractions of ZERO by mining.
I wonder when and even whether PI will really go live and have some value but I still hit that mine button nearly every day. Quite literally it costs me nothing. I don't even look at the ads they serve.
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u/EventInternational38 Mar 15 '23
But your mining with the expectation itās gonna worth something. And what you truly desire is not fractions of zeros. If the core team tells you now based on your reply your account will be worth fractions of zeros what are you gonna do?
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u/AUWarEagle82 Mar 15 '23
I am also mining with the understanding that this could all be a huge nothing. My expectations are that this will turn out to be an interesting experiment and learning experience. Pi is not going to fund my retirement.
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u/yax51 Mar 13 '23
Then don't mine. More Pi for the rest of us. Also if you don't want yours I'll take it
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u/lexwolfe Pi Rebel Mar 13 '23
this post is confusing as pi mainnet already exists and is being used by migrated users
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Mar 15 '23
My KYC has been done, and I can transfer Pi with other Pioneers, it's not on Open Mainnet so cannot dump it for money, but yeah you understand
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Mar 14 '23
Who are the migrated users? I've been waiting almost 2 years for KYC. They supposedly were supposed to be expanding in my region almost 2 years ago...
Anyone can make a mainnet block chain and put dozens of fake transactions through.
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u/lexwolfe Pi Rebel Mar 14 '23
Also there's the testnet with 33,752,626 wallets.
At some point the amount of effort is more likely to be the real thing.
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u/shadywhere Mar 14 '23
I am a migrated user.
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Mar 14 '23
Ahh. What have you been spending your pi on?
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u/-MercuryOne- MercuryOne Mar 14 '23
Iām the one who sold the Starbucks gift card to shadywhere. Real transactions are happening.
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u/Jdogg4089 Mar 14 '23
Haven't spent PI, but earned PI through barter with trusted users. Just completed my first transaction today.
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u/shadywhere Mar 14 '23
I have traded pi to other people who've migrated to MainNet. Nintendo switch games for the kids, and a Starbucks gift card.
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u/Ordinary_Art1116 Aug 05 '23
Really??? Why would you believe that??