1 BTC Project - Pi Network Is Creeping Out Of The Dog House.

By 2MFTProductions | 1BTC | 20 Sep 2024

Its a weird feeling, but I think I am starting to warm to the folks at the pi network. I haven't written about this app since last January. I have always been very negative about pi because it just seems scammy. I have never included pi into my monthly gain, because the token did not freely trade (it still doesn't really), and there was not really a path to success.

That being said I have migrated 1950 pi from the earning app to their wallet app months ago and it seems to have made a difference. The 'mining' seems to have accelerated. I remember staring at my transferable balance as it was stuck at 48 forever. Then months later I checked to see where I was at and it had jumped 10%.

Then two weeks later - day of writing - I am at 55.77.

I don't know have to migrate these tokens but it does seem like my lock up bonus mining rate has been awarded. This does throw some doubt on the current 'spot' price. If this thing ever goes live the price is going to crater. I guarantee it. At my current rate I am making $60 USD per month. It doesn't hold up. When comparing Pi's mining to another crypto faucet that provides unlimited liquidity of a proprietary coin to its users, like COIN and XYO for example, thank I think the true price of Pi should be around $1.00. Maybe slightly higher because pi doesn't have a paywall or a gaming feature (yet).

This was not meant to be another negative post. I wanted to emphasize that pi is growing on my. The developers have laid out a path to going live. Although it is somewhat vague, it is a time line. I wrote about their 3 conditions here. Whit approximately 12,000,000 users through the KYC process and a favorable crypto market it seems like they are close to go time.

What I really appreciate is the developers communicating clearly, and putting a date out into the world. What inspired this blog post was the communication below.

If you do not complete your KYC and migrate your tokens to Mainnet by the end of the year, your tokens will be burned. Some may disagree with the KYC requirement and call this action unfair, but at least it is telegraphed. Giving a hard deadline like this raises my supspicion that they may actually go live.

I have wasted a lot of time on the Pi Network project, it was this inertia and lost time that made me continue hopelessly. Now we are approaching a time where we can find out id my mulelike stubbornness may pay off.

I am not recommending pi network, and I still think it has a greater than 50% chance of being a scam and a 25% chance of failing. But credit where credit is due. The developers seem to be advancing the project and are communicating that effectively.

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