Pi Network - Pegged Pi?

Welcome back to the channel, guys. It's gonna be a good video today. We're gonna, as you can tell by the title of the video, we're gonna talk about something very important to the Pi Network, something that has kind of been theorized to happen, or that should happen with a lot of cryptocurrency projects that never happened. But we're going to talk about the idea of pegged Pi, right? In other words, the Pi coin basically in some respect being backed by some type of asset, whether that be backed by some type of merchant participation, having the dynamics of a Pi cryptocurrency that, you know, is basically this stable thing, its structure. Now, I know a lot of people, when they think of cryptocurrency, oftentimes they want to make a lot of money. They want the assets that they're holding to go up in value. For the express purpose to be able to then sell it for a higher price. And in retrospect, that does sound attractive, and that's generally what we go for. But structure-wise, that doesn't make a lot of sense, and we're going to explain to you why that is. So there being a total supply of 100 billion Pi coins Many of us know all those Pi coins won't actually go into circulation, right? Pi now at $1.12, right? So slightly higher than the US dollar, right? So let's get into this, what having a pegged Pi coin would mean, what it would look like, right? So When you really think about the use of something, the value of something, and you're mining this Pi, right? You're mining these Pi coins, right? And you're getting these Pi coins. The idea you're wanting to transact with these Pi coins, and thus you want them to be stable, right? Because if the idea is you're invested in these cryptocurrency projects and you want to make a lot of money, You want them to be worth thousands of dollars. And in a reality-based sense, it's not very practical for it to work that way. Think in relation to a merchant, right? You got your Pi coins, you're shopping. The use case of cryptocurrencies for the most part is going to be for commerce and use within a structure, whether you're taking it and using it in a game or an application, or whether you're just going to the corner marketplace and buying a cup of coffee, whatever the case may be, uh, you don't want to be in a situation where you're— the items you're transacting are costing too much money, right? Or not having enough Pi value to buy them. So what you will want is it to be stable. For example, let's say you have $200,000 worth of Pi coin. You go out to buy a Lamborghini with the Pi coin. Uh, you plan to buy that Lamborghini on upcoming Friday. Friday comes, you've already made the purchase, the deal contract with the Lamborghini for 200,000 Pi coin. Friday comes, time to pick up your Lamborghini and the Pi coin has 10x, right? So what's happened then is you've paid over $2 million for a Lamborghini that should have cost you 90% less. That is the problem with having a valuable cryptocurrency for the use case of transacting, and it's so unstable that you're losing so much value. What you would rather have, in essence, right guys, is a Pi coin that is fairly stable. Doesn't mean that it doesn't go up in value, but means that it goes up with network value. Its buying power improves, but it does so in a gradual way, in a stable way, much like your standard currencies, right, uh, in traditional markets. Now you might say, well, all of this, what does this matter to me? Well, The reason this all matters is for the most part, we don't have that. We've never had that. You know, I've always said that cryptocurrencies, specifically stablecoins, right? Like your Tethers and such, are very anti-crypto. And why is that? It's because they're— it's oxymoronic in that they're backed by fiat currencies, right? Cryptocurrency should be valuable unto themselves and their value should be relational to itself and it should come from itself, not being backed by fiat currency. That's oxymoronic because the whole problem with a fiat currency is that a fiat currency in itself is an idealized value that isn't real or may not be backed in essence by anything. And then you, you're doing this redundant thing where you're propping up the crypto value by that said thing, right? If you follow what I'm saying. So what you will want is, in its own essence, an algorithmic, uh, cryptocurrency that in within itself is stable. Now Bitcoin, day by day, kind of it gets more stable, but at the same time You know, Bitcoin can go from $100,000 to $80,000 in no time, and it does that. You got 20% of your value gone that fast, right? So that's not good. Could there be something in essence, uh, through application, through structure, through, uh, the network value itself that facilitates that? And in doing so, If you could get a Pi coin worth $3.14, right, or the Pi formula, $3.14, and you're able to mine this very stable, valuable Pi that stays at $3.14, what, maybe a market cap of about, you know, what would be $300 billion, right? Then that would be extraordinarily valuable for the cryptocurrency space. Imagine using Pi coin as your stablecoin, right? Wouldn't that be amazing, right? But in addition to that, you know, just imagine the stability you would have with Pi and its applications, right? The things you could do with it.

This is a very important video. Uh, you may have to watch it a few times, some of you are, because I understand the, uh, mental landscape we navigate in cryptocurrency, which is basically a casino where we just want things to go up and, you know, go up in value for no reason that is a legitimate reason. Uh, and so that's why it's important to kind of understand the dynamics of this, right? But if you understood this to be a, uh, a stable cryptocurrency of its own doing in a court, then you would also understand the tremendous value that would move into something like Pi coin. It would be the first of its kind. But in addition to that, um, you would also have, um, uh, what would be, um, you know, a strong cryptocurrency. It almost feel kind of like if you look at something like the US dollar, right, how everybody— it's the reserve currency. It would kind of somewhat could feel like that, right? Uh, you know, looking at the GTV, the amount of the GTV, uh, you know, that $100 billion number, that is what, uh, you know, basically has people feeling as if, uh, the value of Pi's got to be contained a great deal and so on. There's so many coins out there, right? Market cap would be tremendous. But, but let's try to now theorize, looking at these various applications coming out, adding value to the Pi Network. Uh, here's a good example. Our project, the Sensat Social Media, uh, it's a social media site with publishers and promoters similar to the Google AdWords and AdSense. On a social— this part's important— on a social media platform. Why is social media platform so important? Because social media platforms establish Metcalfe's Law, which translates to the value of a network is correlational to the number of people on it, as to say its value is set in stone owned by the people on the network. Uh, if you look at something like, um, you know, whether it be Meta, uh, Twitter that sold for $44 billion, Meta that's worth about, uh, over a trillion dollars, right? Probably approaching what, a trillion to $2 trillion? Uh, the Apple, uh, network around $3 trillion and so on. Uh, this is based on Metcalfe's Law, the applications that emerge, and this is what creates— that makes it so much valuable, right? Uh, in that value will come a certain degree of stability, right? Because it has to maintain that value. It can't fluctuate up and down so much because at the end of the day, it's really worth $3 trillion or whatever the price may be. So if you follow what I'm saying, this is establishing what would make the price stable, what would make the network stable. And if it is stable and we know the value of the network, we know that's that stable price, uh, then we would also know what it can't be, right? And so the fluctuations would probably not stop because people just wouldn't sell for that less of months. Now the word on the street, and this is all rumorville, this is all a rumor, but the word is there is some algorithm helping that will help to establish the stable price of a Pi coin. Again, it's all rumors, not based on much of anything, right? Uh, but there are some rumors out there, but it does kind of make sense because remember, Pi has attracted a lot of people. What do you do with all these people? What do you do with these 40 million people? You find a way to, uh, for them to lend over value to that network through use of applications and so on. And so the other way to establish this, something like a stability within its own ecosystem, would be the merchants themselves. In other words, the more merchants accept Pi, and as merchants set the price of what a Pi coin can do, right, uh, that's going to establish a certain rule. Uh, now the reason I can speak on this so very well is the Project Bitcoin MYK that you're looking at now, which is basically, uh, you think of it like a social media site like Twitter or something like that with the advertising, uh, and promotion adding to it. Remember, uh, the big situation with Twitter and the advertisers, that's because a lot of ad revenue comes through social media, right? And so that adds value to social media, okay? And the more people you have, obviously the more value you have, uh, but that also helps to establish a value to social media, right? And the more value gets established, the, the worth of that social media site to what eyes are directed where the more established value and stability that has. So to put it all in retrospect, then a merchant could set the value within a structure on the value of Pi based on what you can purchase with their Pi. They can lock that price. They could say that we take 50 Pi, right, for, um, you know, this computer or whatever it is. Um, and so you see a similar situation. But as I was saying, the reason we can speak so much on it, because the Bitcoin NYK project was officially started at the end of 2018, I believe December 2018. Now, much like the Pi Network has went through so many years of development and growth, right? Um, and way before Pi, the Pi Network started, the Bitcoin and YPN network was always already establishing its Google AdSense, like Google AdWords structure of ads to be linked to the value of the cryptocurrency itself, you know. So let's bring it home so you kind of understand where we're going with this.

All right, here on BitcoinMYK. So to kind of help you guys understand this, like if you're a merchant, to understand how this Pi coin, you know, peg situation could work. It could work many ways, right? It could be algorithmic, kind of like what we've seen. Unfortunately, we've seen this with other cryptocurrency projects. I think Terra Luna had this similar problem when it crashed. And, you know, how it was developed, it didn't work. So you're going to need more than just the algorithm, you know, working with that, I think. But, uh, if you have that combined with merchants, uh, as such, that kind of set values of Pi in stone, uh, then something like that could work, uh, more effective on a broader scale. So I'll just give you a basic idea how the BitcoinNYK project works. Remember You know, it will be accepting Pi coin to do this. The way it's set up is our banner ads that are gonna be— you're gonna be able to purchase and things like that with Pi coin. You purchase these banner ads, right? We'll have like the Pi community, they refer people. When they refer people, they actually get Pi coins for that, right? Anytime somebody, you know, buys the, you know, banner ads with Pi. right, to promote whatever they're promoting. So you, you've got both the promoter and the publisher, right? And, uh, they get— they all get, you know, they get paid. And of course, the, the promoter, he's going to, uh, basically get the pie, you know, uh, uh, the, the promotion for the space. Now here's the thing, how much, you know, would he, would he get per— so there's a few ways this works, right? We have the incentive token, right? And we're just giving you an example how this could work throughout the Pi Network, you know, wide scale. So a lot of our data came from— you look at something like the New York Times, right? Um, you know, if you brought promotional space with the New York Times, it could take up something like in running over a weekend, a full page, what they might refer to as like full page ad and such, it costs you millions of dollars to run over the weekend, right? And so, uh, we were able to kind of create this, uh, model of, uh, you know, banner ads running for a month costing around $2,400, right? Now here's the thing though, if you were to set the banner ads value-wise in relation to a, say, a Pi coin, right, uh, they say in the space, what it would do is it would stabilize the value of Pi around that promotional space, right? And so that's what we did with our incentive token that you get, um, and now, you know, with the, uh, our project on Brainstorm over on Pi, You know, what we're saying as well is that if you're a referee, that those incentive tokens would be locked against buying promotional ad space, and that would force people to go back around to purchase Pi off the open market. What's happening now is the Pi coin value is becoming correlational to that ad space because they got to have so many Pi coins and so on, right? So what happens is no matter what the exchanges say the value of Pi is, uh, it will start to revolve around the merchant structure, right? If you follow what I'm saying, which means that people would have to— who are selling the Pi, they could just go on exchange to get the Pi. But the people who are selling the Pi, when they start to realize the demand for the Pi, they can then— they would then raise the value of the Pi coin to that of the merchants, right? And this would always all be a synergy around it. Now, of course, that doesn't have to work that way and these prices don't have to match up. It's just an example of what happens if you use an algorithm and you use merchants and they create a structure like this, especially if it's working together. You've established now that $2,400 worth of promotional space is going to always equal 1 Pi coin. Does that— do you follow what I'm saying? Now, what will happen is the Pi coin value will start to go relational to the space, the ad space, right, on this particular network. Again, you could go on the open markets and you could buy the Pi cheaper, but as the retail investors on the market right, understand, and the market start to understand what's going on, and that there's outside demand where they can use that pie over here and get that, it starts to raise the value of the price in theory. So those are just some rough examples of what could happen. Now, you know, some people are in a negative fashion Looking at the Pi Network now as, okay, we have Pi Day, it didn't hit the $3.14, uh, you know, that it was hoping it could hit. It didn't get listed on Binance, uh, it's kind of tanking now. It's, uh, as we saw, it's dropped from, uh, last week's, like, over— well, it started around when it first hit the markets, was around what, about $3? It went from about $3 to around $2. Now it's around a dollar, uh, it could possibly drop even lower than that. We could start to see Pi get down to 50 cents, 20 cents, 10 cents. I don't know, uh, you know how things work in cryptocurrency when things don't happen in a particular time frame people are hoping it will. And once that hype train is going, what I find is the best thing you could do with cryptocurrency is once that hype train starts going You need to start releasing everything around there. And if you do that, you can probably keep it going. Because if you let it cool off, it just makes it more difficult for that to happen. And I think with Pi coin, that's kind of what's happened, right? And we, I think we're going to see sub below dollar prices. That doesn't mean it's going to stay that way. I do think Pi coin is going to have a revival, but we might have to get used to the idea, at least for now, right? And in a model like this, if this this model was true, that this would be a better way to get to a more higher value Pi coin, that it could take years, it could take half a decade or longer, it could be in stages. And what you would have first is you would have establishing Pi coin as a stablecoin, right?

We—

what we got to do is we got to get out of, you know, prices just going up to the roof for nothing and you're being able to sell this stuff off. Without the cryptocurrency being usable or proving itself. What would make Pi coin usable is that if it's stable, you can use it like you use your standard dollars, right? If it's got a lot of great applications that people are enticed to use and are using, right? Something like Bitcoin MYK with its AdWords. Why is something like Google, something similar to Google AdSense or Google AdWords? Why would something like that be very valuable? Well, because everybody wants to promote something, right? Uh, also on the social media platform, there is a lot of freedom of speech going on. There's a lot of censorship, uh, resistance going on on this platform, which means that as you're starting to see again the emergence of the social— what I call the social media wars that happened in the early 2000s where we didn't have like one or two social media sites. We had dozens of them, uh, hundreds of them, thousands of them, and they were all kind of carving out their own billion-dollar empire piece of pie, right? And, uh, um, and so because of that, I think we're going back to an era like that where you're going to see a lot of emergence of these social media, uh, sites because A lot of our media now doesn't come from big sources. A lot of it, we get a lot of our news from social media in these days, right? So you have social media, and then you have also, as well as that, uh, you have promotions and you have, uh, media coverage, right? And all the stuff going on. Um, but with this project, right, you have this incentive token, right, that can do something. It's only 21 million of them. So that's another thing. Pi gets established as a stablecoin. What happens with Pi next? Well, Pi coin is going to probably go on to be something like the Ethereum networks and the many others that start to establish tokenizations of these various applications on their network, with Pi being the stablecoin, right? It being like Bitcoin, feeding and trading against these other tokenized projects within its ecosystem traded against Pi, strengthening Pi, right? So I know that's a lot to take in. Uh, might be a good idea to rewind the video, watch it a few times, let it sit with you, and this might, you know, come to fruition a lot, you know, more clear what I'm saying here. But, uh, also subscribe to the channel, like the video, share the video, because the more information you get from that, that's the more you're going to, you know, understand this and want and see, you know, you know, how this could work in a great way for the Pi Network. Over time, the buying power of Pi would increase against other cryptocurrencies. People would rather use it. And because of that in itself, it will start to see these huge gains in value, right? But it would be gradual, right? It'd be more so like Bitcoin, but maybe better. You see how Bitcoin might have that 5% swing per day, right? But it's not, you know, going crazy. You're not seeing 20-30% jumps and all that crazy stuff, right, where people can't use it and so on. So that's kind of pretty much the gist of it, you know what I mean? And then you would— you could— you could have that stable Pi that's gonna be useful for every merchant. Because remember, guys, the more merchants you have, the more valuable this becomes. And what is the thing that merchants are gonna need? They're gonna need some aspect of stability, right? And, and so, and, and so that's what we're talking about here, right? So make sure you vote. We'll try to remember to leave a link in this description. We see some of you all are voting for the— our project, uh, makes a lot of sense because again with social media being our new media coverage, right? We're not turning on CNN anymore. We're not turning on CNBC anymore hardly, you know, many of Fox News and so on. You know, we're not watching these things are competing with what they turn to be independent media. And when you look at something like social media that's owned by the community, right? Something like BitcoinMYK that's controlled and tokenized and run by you all community members and Asher Media, it's all tokenized with our incentive tokens moving in sync with the Pi Network. When you consider all those things, you see the tremendous value of something like this, and this could draw in billions of people. In addition to that, if you have the Pi main native coin and it's kind of like a stablecoin like Bitcoin, doesn't really move, or when it does move, it moves in a growth spout, something like Bitcoin where it's somewhat stable but it's not going too crazy. But when it does move and it gets those gains, every— it helps the entire market and it helps the Bitcoin holder. but not to the point where you go and you purchase a Lamborghini and in a couple of days you've lost millions of dollars. It's done so in a more efficient way, a way that is more, you know, ideal. The last part would be if you are one of those great speculators who did want to mine, you know, your 100 Pi coins, your 1,000 Pi coins, and you want to see those become worth a million dollars, uh, or whatever, uh, probably not gonna be able to do that with Pi coin in all honesty. But tokenized projects that relational to Pi that have a lot less cryptocurrency in it, like Bitcoin MYK, which only has 21 million coins, uh, for it to do those things you're hoping for, to get those 10,000% gains, million percent gains, whatever it is, uh, it's probably a lot more likely and somewhat, uh, correlational to the Pi ecosystem, if you understand what I'm saying. But anyway, guys, feel free to ask questions, comments, concerns about it. Uh, you know, make sure you upvote the project you vote on, the Pi Brainstorm project. That's social media combined with Google AdWords, Google AdSense. Make sure you upvote that, uh, so we can be one of the leading projects there on the Pi blockchain, right, in the Pi ecosystem. And, uh, like and share the videos, right? Make sure you do that because the more Pi gets in that algorithm, you know, you want especially people in cryptocurrency on YouTube, on social media, seeing Pi videos everywhere. Because what is that? That's free promotion for Pi, the Pi Network. Now Everybody knows about it. That makes the pie you're holding chances a great deal more valuable. So that's why you want to do that, guys. Not just helping me out, but helping yourselves out 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 of yourselves and each other.