Quote:
Originally Posted by Ashes
Anybody else here been mining Pi Coin? Supposedly it's going mainnet live on Feb 21st.
Price spike today up to around $80 USD but i can see the price crashing hard when everyone goes to sell on day 1.
Maybe a decent buy opportunity if it gets listed on some of the big exchanges? For reference, there's 20 million people mining Pi coin and there's now 100 apps on the Pi Exchange, where people can purchase physical goods for Pi Coin already.
Perhaps this is a coin that could have some longevity. Excited to see what happens over the next few years. Thoughts?
|
It's an MLM, always has been.
The "mining" isn't actually mining. The "price" is IOU, which is artificially propped up by dummy wallets.
There is a 99.9999% chance that the price will tank to sub $10 within 24 hours of launch. The valuation on this thing is ridiculous.
Don't get me wrong, I have about 1,000 of the things so if it's even $20 I'm laughing but they're probably worth $500 at most, and that's if I sell fast.
There have been 6 billion Pi migrated to mainnet so far, so at even $20 per that would give it an FDV of $120b, which would immediately make it the fifth largest FDV of any token in current existence.
Absolutely no chance this thing is worth more than $1 per after the price crash.
That said, far stupider things have happened in crypto so that .0001% chance it isn't a turd will keep the dream alive.
