1BTC Project - Pi Network Goes Live.... Now What?

By 2MFTProductions | 1BTC | 14 Mar 2025

Happy Pi Day.

I never thought it would actually happen. At time of writing, we are 3 days away from pi network going live. The price of the exchange listed IOUs have collapsed, but even if the token holds above $1.00 USD I will be a happy guy. So far, so good.

At one point during the waiting period there was a promise that KYC validators would be paid for their efforts with extra Pi Network tokens. I don't think that will happen.

I wonder what will happen to all the IOU holders who bought north of $250 per token? Point 1 is that is a rough trade, point B is good luck adjudicating that transaction. If money was actually changing hands the sell is long gone.

Look at this Pi IOU chart, it is nothing but pain.

The roll out has been a bit of a mess. The developers have pushed back the deadline several times. After years of dragging out MainNet, I was starting to think it would never happen. There is also a lack of clarity on what happens after Mainnet. I signed up for the longest lockup period when my chunk of pi tokens were moved from the mining app to the wallet.

I took this screen shot a while back. Even after I migrated close to 2K pi a year ago and the mining continued. The Pi Core team never made it clear what was going to happen to these newly minted tokens. I could not find a button or anywhere that mentioned a second migration, but my check list was complete so I did not worry about it. 72 tokens was a nice cherry on top.

Unfortunately, the entireity of the newest minted tokens never got migrated and were rolled into my unverified balance. Which is pretty bullshit if I can be honest. I followed every step, and still lost out on around $100 USD. Its spilled milk, but still an annoyance.

Where does that leave us? I am unsure. I know that I have 1950 pi tokens locked in my wallet. I am subject to some form of lock up. I think its three years. I don't know if that clock has started. I am still mining pi tokens, but they don't seem to go anywhere except my unverified bonus.

Was this a step forward? Maybe. It seems like I am in the same situation as I was before. Are the tokens even free trading? The value seems to be in line with reality. Until the tokens are listed on an exchange they are fake. This "migration" has been a bit of a wet squib. Nothing has really changed, and as always the core team are not giving much guidance.

I am still not counting pi in any of my tallies.

What do you think?

Keep stacking.

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