Countdown to 1M!!!

By Z365AIR | PI Network | 20 Oct 2019


YES! THAT'S RIGHT!! ONE MILLION!!!

Pi Network is about to reach 1 MILLION engaged pioneers. Huge growth in the last couple of months. Sad news for the miners though. 1 million means halving, the mining rewards will be halved. But on the bright side we're closer to start the marketplaces and move on to testnet. This growth rate naturally brings in some questions like "How good we're actually doing on Pi Network for now" and maybe few others...

Let's put the moderator role on Pi aside and write about some in-depth review as an ordinary member for this post. Jump in we go! 


It's a fact that the average member quality on Pi Network has dropped since we start growing on logarithmic curve. Each wave of new signups are less informed than the previous ones. Could this be a problem for the future of Pi network as it's very much dependent on quality over quantity?


Market Places and the Free Market Economy

Yes, a wider network is a plus IF and only IF it's formed by quality members. Pi Network will be launching market places soon, members will open their stores and in-app transfers will begin. That's were we are going to set Pi's price! Initial Price Formation will be set by the members on these stores. We are going to sell our products and services on an imaginary Pi value we set ourselves. In the end, these prices will meet at commonly acceptable level across the network. That will be more or less the trading price for PI when we hit the exchanges. 

It comes down to value creating potential of the members. These latest members who think it is a free money, who desperately been chasing airdrop campaigns and coming to Pi network with absolutely no information or idea on what Pi is, are most likely have ZERO to VERY LITTLE potential of creating a value as they have nothing to offer (at least nothing shiny). Pi Network's main problem is not any lack of services, support or the tech behind it but it's these gravediggers. 

We need to handle this together as a community. We can't change the unbanked people's current situation, it's Pi's mission. But we can help un/under-educated individuals by teaching them how this is going to happen, how would it be possible for Pi to help their way out, how to create a value off of this digital coin on it's journey of forming a cryptocurrency.


Verification

Members currently have 2 methods to verify their account: Mobile - Facebook.

Purpose of this verification is proving the ownership of that registration method. Mobile registers asked to send a text message with 4 digit code (or receive it in US and Canada) and Facebook registers asked to login via API to prove the ownership of that facebook account. Lately some eastern and African countries overseas were having trouble verifying their mobile numbers as the US or UK operators failed to operate their requests. That's why we now have an option to verify via Facebook for mobile users. Mobile users can bind their facebook accounts with Pi and get verified. But of course these are not enough to go live on market places. What we need is a KYC-like method and that's where the problems begin.

The part that all the fake, bot, multi accounts take on this huge growth is can not be despised. There should be an accurate solution to burn all these anomalous Pi accumulated for both the secondary and primary accounts. It might look as an easy task but it becomes a serious pain in the a** when it's scaled to 1 million users. Pi Network currently have various methods on revealing those accounts. Some external and some built-in solutions like security circles, upvote-downvote feature, human behaviour detection algorithms etc. Our Pi will be safe that's for sure. The whole of anomalous referral Pi and the portion they accumulated for their mains will be burned! But it's bringing us to another unfair route: Early halving?? 


We will soon be getting to 1 million users. Let's keep the Early Halving topic for that post..

Pi Turkish Moderator z365air at your service. Drop comments for your questions. 

New members are welcome. Click here to sign up

Witness the creation of something awesome! 

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Z365AIR
Z365AIR

Food Processing Technologies PhD, Musician, Crypto enthusiast, 3D-AR designer


PI Network
PI Network

PI Network is a revolutionary SocialChain App giving the economic and social power of blockchain technology and the cryptocurrencies into the hands of everyday people by redefining wealth. Infos, News and Updates about PI Network is here on this blog.

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