Pi Coin $100 At Launch? - Should You Buy?

Welcome back to the channel. I hope you're having a great day. So the Pi Network, what we're gonna talk about today, will it reach $100? Like, is this cryptocurrency going to actually be that high? For those of you all who don't know what the Pi Network is, it is a And, um, a project that was started by Stanford professors has a lot to do with running blockchains on smart devices, which of course you're talking about a lot less energy expenditure. Uh, if you're, uh, on the side of Elon Musk who believe Bitcoin is just expending unnecessary amounts of energy, uh, which push the proof-of-stake algorithm, which is pushing or have pushed many various approaches and algorithms that don't have harsh effects on the environment, then you might be on the side of a project like Pi Network. Of course, one of the more interesting parts about the Pi Network is it's a large amount of users in a short period of time. 14 million users plus, and we've seen many cryptocurrencies, but we haven't seen them grow at this amount. And what's driving that? To be honest, I have no idea. I have no idea how their marketing works. All I know is that it has worked very well. Um, so, uh, Can we expect to see the Pi coin at $100, right? And what's driving this technology? What's under the hood? Well, that's the other problem or the issue I think with the Pi Network is, uh, I don't think anybody has ever inspected the code, right? I don't think it's available. I don't know if it's going to be available. So we really don't know exactly how it works. You know, and that can create a lot of problems. But what is clear is that they managed to get a lot of people downloading their mobile device. And what is clear, that this, this application has started to run advertisements. Now, of course, you know what that means value-wise. That's of course going to mean that we know that the project is not going to be worth zero. It's going to be worth something because ads are coming through. Over 14 million people are using this application, and so, uh, that's quite interesting to where the Pi Network's going. There was a, um, a video, uh, done, uh, not too long ago, and this world's accountant, I believe he does an analysis of the Pi Network. He comes up with this very interesting formula that I think by his own words isn't an accurate formula, but it's one that has worked on other things. And he comes up with something, I think it's just under $2 a Pi coin, right? And that was quite interesting. But at the end of the day, nobody really knows what these cryptocurrencies are going to be worth. The amount of user base and hype behind the idea of the Pi Network, we can expect that it's going to be worth something, right? And, you know, we can all— we can also expect that we're probably gonna see at least some initial pumps. You know, that's generally what happens with these things. Might see a crazy— it touch a very crazy price and in that sense, maybe it will be worth $100 at some point in time through that process. But generally, they don't hold those prices, and they, they come right back down to reality very quickly. Uh, somebody generally overpays in these scenarios. Um, but to say that the Pi Network won't be interesting to watch and that it won't be something that, uh, I think should be quite exciting. Uh, you know, would be, uh, accurate to say that that's what's probably going to happen, that it's going to be quite the exciting project. Now with that said, uh, is this something that we should be using? Well, you know, right now what's going on with the Pi Network, the downloads, people using the application What I've heard, and I don't know if this is true, so don't quote me on this and don't take this as fact, but my understanding from what I'm hearing from the community is that the, uh, Pi tokens that you're accruing now in your wallets, those will be, uh, yours at the launch. And, you know, they, they will have a you know, whatever value they're going to have, but they will be yours. Uh, they, they won't be like fake tokens, I don't think. Now I hope that's what's going to happen, and, and that's what the community is saying. And that is because I've, uh, I've been on situations like this before where you've had these kind of, um, the tokens you earn through using these applications and when the network launches, then they start you over and now you have to use, or you get to use, uh, the actual token. But the other ones were dummy tokens, right? They weren't real, right? And so, uh, that— I don't— the community's saying that won't happen with the Pi Network. I hope that's the case. If not, then you have to start back over. And I think that, uh, at this point in time, I'm more geared towards agreeing with the community because they are running advertisement. I know they're testing the ads, but I'm hearing stories about they are collecting revenue from the ads. So, you know, in those cases, I think it probably would be fair that they, they actually give the community the tokens, reminding them through the application, and they probably will. But should we be using the Pi Network, right? Is there anything really, uh, of significance here? Is this just another hype project, smart device, run a blockchain on a mobile device project like we've had before? And so here's what I'm going to say, guys, and I'm going to be, um, you know, some people who are big fans of Pi Network may not like this, but, um, I don't think that the Pi Network is going to achieve anything more so than what we've seen with many of these similar projects before. You know, there have been projects like Phonium, Electroneum, and I think the difference with Pi is supposed to be, whereas, um, much of the blockchain security with these other devices depended a lot on simulated mining and just this idea that you're actually moving things along this blockchain. But with the Pi Network, my impression is they figured out how to run, you know, the entire security of the blockchain on smart devices, if I have it correct. And, you know, maybe that'd be the case. But what that means is that, is it gonna be anything significant there, any different than what we've seen with these other projects that have boasted the same idea. That part I'm more skeptical of. I'm thinking more like this is just more hype. Now they are taking a long time, so it could mean that they are really, you know, really going to work on this. But, you know, maybe after being in so many years of the space and being a skeptic, something's just making me feel like this isn't going to be, you know, on the level many people think. I think it's going to kind of, uh, uh, you know, kind of, uh, fade out a bit, uh, and that people are going to probably use this, going to have some fun with it, but I don't think it's going to be a big significant project in the cryptocurrency space. Um, what I will say though is as long as it's free, use it. Right? I'm a big supporter of freemium services, free projects, free cryptocurrency, right? And there's no harm done when it's free. There's no harm done to the end user. And so in that sense, I'm okay with that. It's only when people start to invest their money that I have a problem when they start to invest in these Ponzi scheme, pyramid schemes, DeFi products, these bubble-to-the-moon NFT projects, right? Those are the only times I, you know, I think it's, it's fair that people have as much information as possible. And after that point, they want to go make a decision to spend their money, to invest their money, then, you know, that is their decision to make. But at least have all the information available to you. Uh, so use it under those circumstances, but going out and purchasing the Pi Network cryptocurrency, I just don't really see anything at this point that would make me do that. And, uh, there's, you know, a lot of this mining and referring and going on. People are gaining access to this cryptocurrency. Are they going to want to go out and spend a lot of money on it? Maybe, you know, maybe they might want to push up the price, hype up the price, and it might get the ball moving on that, and it might be able to maintain itself. Perhaps, but it could also go the other way, right? And, uh, right, you know, it could also be, uh, you know, just a project that starts to wither away like many other cryptocurrency projects have done. So as long as it's free, use it, use it to your heart's content. But I would caution people to be careful with these type of projects, especially, uh, here on the BitcoinMYK.com site. Although the Pi Network hasn't started yet, the project we're working on, BitcoinNYK, has so many similarities to the Pi Network, right? This is a project where you can log on with your smart device, you can log on with your mobile device, and what you're getting is you're getting this automated system that allows you to do fun social media-like activities and earn these cryptocurrency tokens while you're doing it, right? So your standard thing, you do on social media, watching videos, doing polls, adding friends, sharing information. Uh, you get cryptocurrency from everywhere for just about everything you do, visiting sites, viewing polls, uh, and, and so on and so forth. Um, and in that sense, um, you know, I, I think you'll really enjoy this and it's absolutely free. Uh, it has automated universal basic income, And so there are many similarities in this and the Pi Network, but the great thing about it is the cryptocurrency is trading right now. It does have value, and you can start collecting them every day free just by visiting the site, doing things you do every day anyway. So as long as projects are like that in cryptocurrency, you'll find I'm one of their biggest supporters. It's only when they start to get people to part with their money that I think people should be quite informed. And, you know, it's absolutely fine to invest in cryptocurrency projects. You know, in fact, you know, not everybody is involved in the cryptocurrency space just to get rich or make a lot of money. Some people find it hobbyish or crypto enthusiasts. Some people like to experiment with different systems like I do. So there could be many things that are bringing people to cryptocurrency besides just, you know, can you get rich overnight or something like that. So that, that also goes into play into that. And I think a project like BitcoinMYK.com kind of touches on those type ideas of, you know, just remembering to have fun, invest in things you like, uh, and, uh, right, it'll be a much better experience, uh, for you all. But that's my thoughts on the Pi Network, what's going on with it, if it's going to hit $100, and it's similar to the BitcoinMYK project. Why you should definitely be using that as well. But that's all I want to say in this video. If you like content like this, don't forget to like, subscribe. Until next time, as always, take care.