Pi Network - Best Price Prediction!/Btcmyk Unity Token @WesSpencer

Welcome back to the channel. I hope you all are having a nice day, a great day. So as you can tell from the title of the video, today we're going to give you the best Pi Network, Pi coin price prediction of them all, right? And so, little disclaimer before we get started. Here's what, here's what my disclaimer states. My disclaimer states that you should never under any circumstances go out and purchase cryptocurrencies. Don't buy any cryptocurrencies. The one, the one good thing I like about the Pi Network is a lot of the entire structure of the Pi Network is predicated on. You can mine the Pi coins on your smart device on their network, and you're able to use the network, transfer that value, uh, or as the mainnet has launched, at least transfer the cryptocurrencies back and forth and allow the markets, the community, find a value for it. Now, why am I saying never buy cryptocurrencies? Why am I saying that when we've heard stories about people make so much money? On cryptocurrencies. Uh, I've made money on cryptocurrencies. I've done very well making money on cryptocurrencies. Why would I say don't go out and purchase a cryptocurrency under any circumstances? Here's the reason I'm saying this, and here's what the root word is in all of this, right? And the root word is currency and cryptocurrency. Now, Economically, there is no more value in a currency that's worth $1 or one that's worth $1 million. Doesn't matter. Currencies are a medium of exchanges, right? Doesn't matter where the price goes in the utility, in exchange, in its ability to do that. That is what the purpose of a currency is right now. Some people say, oh yeah, but you know, Blockchain is so much more than that, and its development and all this technology and things like that. But one, what one needs to understand is that most of these projects, probably over 90% of them, are unregistered securities. Uh, they're clones and redundant projects of other projects. They are raising, uh, funds, uh, in an unregistered manner. That oftentimes ends up harming people more than helping people. And the reason I say that is because oftentimes the people who walk away with the real value of the network, it's probably only about 1% of all the participants in cryptocurrency, right? So that's why you always mostly hear stories about someone made money in cryptocurrency, and oftentimes it's not the person. Now with all that said, right, and all that understood, I would say never buy cryptocurrency. Focus on projects like Pi coin, at least in relation to how you can earn it through the mining, and focus on projects like BitcoinNYK, which I spearhead and champion, which is all based on universal basic income. And the whole idea is to use it, maneuver it free, uh, and so on and so forth. And as you watch the channel, as you understand economics a great deal better, you understand these cryptocurrency markets it will become ever so much clearer why I say these things, right? And how cryptocurrencies work and what you need to understand. So let's get into the price. With all that said and all that understood, I'm hoping at this point, let's get into what I believe the value of the Pi Network will be, right? All right. So since the mainnet launch, And if I didn't say it, I'm pretty much excited about this project. This is one of those projects, um, I was excited about simply because the Pi Network reminds me so much of the Bitcoin MYK Universal Basic Income project, which is this fork of Bitcoin, uh, that has, uh, feels like a social network, Facebook, and, um, uh, basically has universal basic income distributed to the, to the people. right? Uh, which can make it a very stable, viable, useful currency that in some cases, as a byproduct of that, can create a tremendous amount of buying power based on its deflation. But anyway, we'll talk a little bit about that later in the video and why I get excited about these type projects and why Pi Network shares some of those ideas. So first, here's what we know about the Pi Network. What we know about the Pi Network is that, and since its mainnet launches, we know that there's about 100 billion total supply of Pi coins, right? So I believe the mainnet is basically went live a few days ago, right? This information was available basically then, right? Now, what also next, what we know is we know that these PhDs, these creators of this technology, right? You know, which I think as well was a great confidence booster in this project, you know, knowing that they're capable people working on it, hopefully reputable people, good people, Uh, not our run-of-the-mill normal obscure unknown figures that, uh, are shadowy in cryptocurrency. I don't know, some people might kind of look at me that way, so. But anyway, um, in this particular case, uh, the Stanford alumni, uh, you know, are people who, uh, have created this project and have got funding. Now, of course, many problems in setups and networks like these is that you then began to worry a great deal about decentralization of the network. Now, the problem with Pi Network is that there are a lot of elements of it that feel centralized, right? Um, and so, uh, understanding how much the founders would control, how much these wallets would control, was very critical to understanding what the price is going to look like with the Pi Network and so on and so forth. So 20, it comes out, the number is something like 20 billion, uh, uh, tokens that are going to be, uh, you know, basically, or coins, right? I'm sorry, that are going to be, uh, designated to the founders, right? That's about one-fifth of, uh, the entire network. In relation to many other cryptocurrency projects, uh, I would say it's pretty, pretty, um, pretty fair, you know what I mean? Not the best I'd like to see, you know, a perfect idea of decentralization like what I'm probably looking for would be something perhaps like, uh, Satoshi and Bitcoin, but 20% of the network Uh, so to speak, I'll take it. Still a great deal better than many of the networks exist, uh, that exist, uh, or, or, you know, um, uh, that might be 90% control, might be 80, you know, north of 50, you know, whatever the case may be. As we've discussed in some of our videos earlier this week, um, it doesn't make people feel very good that they're under those type, uh, circumstances. Even if we're fully in trust with the people that might head these projects, the founders that might be reputable people, that is beyond the point, right? That is aside from the point. The, the point is this technology is supposed to allow us, uh, the ability not to have to deal with something like that. So now let's go on to understanding that founders are going to control about, uh, roughly about 20% of this project. All right, uh, let's look at the other big factor in, uh, some of the ideas that have made me very excited about the Pi Network, and that is that it has like 30 million active users, right? Uh, the KYC maximum verification. Now again, These people, we don't know if they're bots. We don't know if they're duplicate accounts. You know, probably people just got several dozen devices. People are farming, trying to basically get the leg up on the system, right? If you follow what I'm saying. Of course, we know this happens when there's no KYC or verification and there's this great degree of participation going on. Uh, right, that there are going to be a lot of people trying to get an edge, trying to, trying to game the system, right? So that is a given, that is a grant. I deal with that all the time, BitcoinMYK, and we have over the years diligently created ways to address that. And they are difficult to deal with that, and Pi Network will be no different. And so based on that we have to look at what's gonna be the maximum verification, know your customer status as to how many of these people are actually real, right? So I've been hearing numbers about verification so far. I've heard something like 1.5 million verified users so far. We've come up with a number that the maximum verifications that will happen in the Pi Network is about 4 million people. So let's talk about that a little bit. Sorry about that, guys. I forget to cut off my notifications. I do these videos live and uncut, so bear with me. Hopefully that doesn't happen again. I'm sorry I have to pause the video and take— turn this off. Um, but where do we get the, the 4 million number? So Here's the thing, the verification process Pi Network is going to use, from my understanding, from the information I've been able to gather so far, there is nothing that is, uh, uh, that is going to be different than many other verification processes that are used on the blockchain, right? That many other verification services that verify identity, right? So I don't believe, if I understand it correctly, that Pi has developed some system of his own to verify people, right? That is likely is going to use a third-party system. Uh, if I understand this correctly, if I, if I've made a mistake in that, uh, it's still going to arrive at the same number, I believe about 4 million. I'm going to explain why. Uh, and so whatever verification process they're using, right? Uh, throughout the course of many similar projects, right? We had a similar situation happen with Electroneum where they were getting a lot of cryptocurrency given out to the participants each month, and, uh, then they start to have to verify if the numbers were real. And despite the, the best verification processes and systems like these, the maximum amount of people, uh, it's reaching. There have been many projects done a lot of marketing throughout the years collectively over blockchain technology, and the biggest I've ever come across or seen when it comes to know your customer verification— because also keep in mind, although there are 30 million active users, uh, we're on Pi, that doesn't mean that they're going to be 30 million people that verified that they are. And without that verification, without that data, uh, I think it would be a bit incorrect to state that that value is going to be there, right? To say that that value is going to be there. I think another— I hear some people criticize price predictions, right? And I understand where they're coming from. But what you have to understand is that price predictions is something that goes on in regulated markets and regulated economies, and they aren't things that are frowned upon. You know, when a lot of companies are funded, and set up, there has to be analysis done as to what you're investing in, which means you have to have some idea of what the value of the product would be and what the value would be. So people who criticize price predictions, I have to question, uh, if they are really, uh, business people, that they are really, uh, people who have started companies and run businesses effectively, uh, because that's not really how it works. If you look at something like Facebook, how it started when the VCs were putting funds together and so on and so forth. In social media, in relation to accounts, there are metrics and there are models that we know or use where we can pretty much get some ballpark idea that could be pretty strong and pretty reliable as to what the value of networks are gonna be, you know, based on the participants, if they're real, if they're not bots, of course. The differences with many of these social media activities where they're collecting so much data they're oftentimes able to verify that a lot of the accounts are real. So even if you have something like Facebook, which might have 2.8 billion accounts, uh, you're probably still gonna have a great less than 20% of that that's gonna be duplicates, bots, so on and so forth, right? So you can still have a large valuable network and there's no difference here with that, right? So let's keep that number in mind, 4 million. I'm gonna set that at the maximum based on poor performance of other similar projects, uh, just to the fact that the cryptocurrency space is still not that large, right? Remember, there's still only about 2-3% of people in cryptocurrency that's discovered it, understand it, or using it, right? So that means that a lot of these are duplicate accounts. These aren't actual, you know, people. So keep that 4 million in mind. I'm going to say those are going to probably be authentic verified people at best case scenario. Take 3% cash injection market effect. Now let me tell you how I'm arriving at why that's important, how we arrive at that number. So due to many, several investigative studies, some conducted by the SEC, or the Securities and Exchange Commission, um, there was discovered that the value that's being injected in cryptocurrency, the, the, the, the price discovery and so on and so forth, it's only about 3% of it is actual trading, right? What is the rest? Probably like wash trade and price manipulation, so on and so forth, right? So what that means is that about 3% of the actual value going into cryptocurrency is having an impact of probably up to 30, 50 times that, right? Right. As to say, let's just give this example. Let's just say someone, they just make it a little bit, clarify a little bit more. So if somebody put like $3 billion into Bitcoin, right? What would be the value of Bitcoin if somebody injected $3 billion into it? Some people might say it'll be $3 billion, but the reality is the market effect of it, it could be $100 billion or $150 billion, right? $3 billion could create that effect, right? And so, uh, we're talking about true value. What is the value of an account if I believe it's going to be only going to be about maybe 4 million actual real Pi Network users? What's going to actually be the value per account? And this is also a very interesting, uh, statistic and way to look at these things. But, uh, let's first, let's explore the idea of like Metcalfe's Law. What is Metcalfe's Law? So Metcalfe's Law is this idea that Uh, based on the size of your network, the connectivity of the nodes, personal accounts, so on and so forth, basically is stating that based on that, that's going to determine the value of the network, or the network is going to become more valuable as that increases, right? For many of us, that seems like a very common sense way to look at that, right? That if you got a lot of people, got a big network, that there's probably going to be more possibly more money circulating, more opportunity, more payment gateways, so on and so forth. So where's this $4,000 per account come from? So let's look at social media networks. Let's— I'm trying to oversimplify this because it doesn't have to be social media. It could be, uh, just like your standard Ethereum communities, Bitcoin, so on and so forth. But let's just try to make it, you know, so we can have this very abstract way to grasp this. So if you look at something like maybe a Facebook account, some people might say a Facebook, the average Facebook account value-wise, the Facebook might be worth $400 or $500 or maybe even $700, maybe push close to $1,000 because it's like almost trillion dollar, like trillion dollar market cap product, I think at this point. But some people probably come to a conclusion like that. And then there'll be so much value in what advertisers could do. What communications could be open and so on and so forth, right? So some numbers that come up, uh, in that area might be a lot like $500,000, something like that, right, per account. Uh, now the other thing is what we have to keep in mind is something like Pi Network wouldn't just be like this media interaction, right? You know what I mean? Or network interaction. but it would incorporate a financial service portion of it, like banking and so on and so forth. So, uh, statistics suggest that the average bank generates about $4,000 per account per person, right? So if you add like both those figures together, so if you add both those numbers together, you might come up with something like 4 or 5 $4,000 to $5,000, so on and so forth, right? So, so if we have that number, right? Uh, I'm going to say that that number is, uh, probably gonna be pretty, uh, pretty, you know, pretty not accurate, but I would say it's, it, it's pretty good place to start, right? Because, you know, you can't say things like that. You We don't really know, but, uh, ballpark, maybe something like that. Now, uh, if we're saying it's like these accounts were $4,000 each and there are 4 million verifiable people on the Pi Network that have done the KYC, and that, you know, we know that they're, they're actual there, uh, that we arrive at something like, uh, when we do all the math, when we do the, that value against the 3% market effect, right? We arrive at something like $16 billion, right? Now what we have to do next, of course, is take that $16 billion of value and divide it by our total supply, right? Which is 100 billion, right? And now these prices can fluctuate a great deal because we don't know how this supply will become available, how much will be circulating. It could be a great deal less than, you know, it might only be a billion coins out there circulating. We don't know any of that. But knowing what the total supply is, know that they, uh, based on the governance of the Pi Network and how that's going to work, that at some point these founders will be able to, uh, if they wanted to sell off, you know, that much Pi cryptocurrency. Now a lot of people would say things like, uh, well, these guys don't want to hurt the project, and we hear this a lot. But again, guys, that's all irrelevant. The reason that's all irrelevant, because in many of our ideas, the purpose of these blockchains is not to have that scenario to begin with, right? So So, you know, then going from that to, oh, but you know, I trust the founder and he wants the project to succeed. Yes, well, great, that's wonderful. But again, that's really not what we should have to do with blockchain technology, we feel, right? So when we do all that, we come to $6.25 per Pi cryptocurrency, right? Which isn't bad, you know, I think that's an awesome price. I think, I think, and that's a price I would be confident in seeing the Pi Network get to. Right, and I don't know when that would happen, right? That might not be right away. That could be years. I don't know. That could make— might be 5, 10 years from now. Who knows? Uh, or it might happen the first day. It might go to thousands of dollars a day. You just never know with these type projects. But that's pretty much, you know, what my prediction is on there, about $6.25 per Pi coin. So in conclusion, I don't— Pi Network is not a bad project. I think it's going to be a fairly good project, but I do have many issues with the Pi Network. I don't think it's going to achieve a lot of levels though that people think it is. Initially I thought it might, but I've since then reevaluated and I see many problems with Pi Network, uh, based on the limitations, right, of what Pi can be. The first limitation I see in Pi Network is that it is not multi-chain, right? So if you look at something like the Bitcoin MYK cryptocurrency, or what I'm calling the, the Unity token, right? Imagine something working just like the Pi Network in very similar fashion, right? Where the, the entire market is basically based on getting it free, uh, the entire system's already developed and so on and so forth, right? Uh, so it, you know, that's not necessary for the project to function. So you got a lot, great deal less inflation and so on and so forth. What makes Pi coin inferior to something like Bitcoin NYK is the fact that it is not multi-chain. Now, the, the projects that are going to be a force to be reckoned with in the future are going to be those projects that are multi-chain, existing on several chains at once. And that's what Bitcoin NYK does, as well as inherits the Bitcoin Ledger. So it is, uh, you know, this doesn't make Pi a bad project. Pi, I think, will still be a good project, but it just doesn't make it a great project. And I can see Pi fizzling out and being one of these Electroneum-like, you know, projects where— also keep in mind, giving away a lot of cryptocurrency free, you gotta— you have to really have an end goal in mind and structure a system with that that is beyond experimental. Because what I mean by that, and many studies have been done on this, is a problem I've run into with Bitcoin MYK that I think will overcome for many reasons. But when you give away things for people obtain things very easily and free, they value it a lot less, right? These people mining all this Pi, they have a lot less value for it, and so would the buyers of it, right? That's gonna have a great impact on the price unless there are certain mechanics involved, like a very aggressive deflation, like what we have in Bitcoin MYK, sped up halving situation that we have, a total supply right now of about 28 million tokens, but it's going to end up being something like 5 million, making it a great deal less deflationary than Bitcoin. Uh, when you couple all of that and the mechanism of how you can just come on our site, do the same thing effectively mining, uh, the cryptocurrency for free, not having to come up with a dime, the network under Metcalf's Law still has value, that it now trades on exchange— that's another negative with Pi, it doesn't at this time trade on exchange, right? Uh, and it may not for another 6 months to a year. Um, and so that's not a, a very good thing as far as keeping those people actively involved, right? And, uh, so that can be positive or negative, mostly negative, I think. Uh, I think they've had a lot of time to get the years and years to get this thing gone by now. I don't think anything significant gonna happen with Pi other than what's already happened, but all in all, I think it's a okay project. I think it's a fairly good project. It is inferior to Bitcoin MYK because it's not multi-chain. Uh, Bitcoin MYK, the Unity token, the universal basic income token, is not going to have the tribalism that Pi is going to meet, right? And many of these other cryptocurrency projects. And the reason being is Bitcoin MYK is allowing communities across the crypto sphere to decide what chains they want to use their version of Bitcoin NYK, and the supply stays the same on all chains collectively, and they can move that value back and forth. So it really doesn't matter if, if, uh, you're in Bitcoin NYK and Ethereum's performing well, the Bitcoin NYK version is going to pull up the version on the other chains you're on. If you're on Bitcoin Cash or Bitcoin SV, or if you're on Ethereum EOS or like PulseChain or Waves or many other chains that we're involved with, right? So that's all very important to understand. Join BitcoinMYK today. You don't have to wait like with Pi. You can mine it, you know, you can basically refer people, still gain value from it. Don't have to wait to trade it for another year like what's probably going to happen with the Pi Network. But that is my prediction. Don't buy cryptocurrency. That is my advice to you, and it is advice. Don't buy it, earn it on BitcoinMYK or earn it on Pi Network doing the mining, right? You don't have to buy it. Network cryptocurrencies for the networks to have value in billions and trillions of dollars worth, right? It would be ridiculous as telling you to go out there and buy space from Facebook for something or instead of using it like a currency or the dollars in your pocket. They are representations of the value you transfer, right? They're not unregistered securities, they're not funding mechanisms, they're not, uh, any of those things that have nothing to do with the currency. But not only that, uh, oftentimes they just fail projects that don't really do anything to increase the use and utility of blockchain technology, right? But those are all my thoughts and opinions, guys. If you like content like this, if you like this price prediction, don't forget to like, comment, and subscribe. Join Bitcoin and White Kid today. If you have any questions about it, I'll be more than happy to answer them for you, but I think you'll be glad you did. That's all I want to say in this video. Until next time, as always, take care of yourselves and each other.