Pi Network - What To Do As You Await Network Migration?

Welcome back to the channel. I hope you're all having a good evening. Been a while since we did a Pi Network video. We're gonna do one today. So the Pi Network this week, an impressive— I think it hit around 80 cents. Impressive week. A lot of the altcoins having positive interactions with the uh, the gains of Bitcoin, right? That's one positive thing that happens in cryptocurrency markets. As Bitcoin goes up, in some cases it can pull up altcoins a great deal. Um, so Pi, what's happening with Pi right now is the migration of the Pi to the blockchain. And this has created a lot of controversy. The Pi Network team communication-wise, some of the community isn't very happy with the level of communication. Pi performing at its peak close to about $3, right? And it's dropped all the way down to 64 cents. Of course, whenever you're running a free cryptocurrency project, or it's a lot of mining going on, right? So you got a lot of free coins, so you're gonna have a great deal of sell pressure. Communication from the team is probably gonna be paramount because what you probably would want in that case, an idea, is to have, you know, the team maybe helping you to understand why Pi might be a good hold for the future. Of course, that's only going to limit down the selling pressure so much. Remember, you got a lot of coins on the market that people have come into possession of And in some aspects, maybe too easy, right? And so it feels like it's nothing for them to put them for sale on the market, right? This is just the nature of what happens in concepts like this. Now, I've been quite impressed with the Pi team's price performance up to this point. Of course, I thought the price— excuse me, guys, give me a second. Let me make sure I've disabled my notifications. Okay, that should go fairly better. So yeah, of course, speaking of communication, so then in that case, it's very important that the team be communicating with people constantly to let them know, probably not a good idea to sell this coin. There are a lot of great things happening on the horizon, right? Very important that they hear, especially when you're giving away, you know, what's going to appear to people to be free cryptocurrency, right? They're going to look at it like free. It's, you know, easy to come in possession with it. So they're going to get given away free. They're going to sell it fast. Trust me, I know running a universal basic income cryptocurrency project. We've had our challenges, right? The Pi coin now doing Project Brainstorm, right? Which is, and we'll get you over there, which is basically their application where the Pi community can put up projects that are helping to grow value to the Pi network, right? Our universal basic income social media site cryptocurrency project will certainly be on there. We feel a certain type of kinship with the Pi Network. Let you take a look at what it looks like. This is basically what it looks like, right? So let's talk real quick about what it's going to take for Pi, the Pi coin, to have value, right? You know, obviously you're hitting the mine button on your phone, you're getting these free cryptocurrency projects. A lot of people are going to dump those coins on the market, right? And so, you know, if you saw Pi coin around $3, now you see it around 60 cents, it's probably going to continue a downward fall for quite a while, right? With some spikes here and there, but that sell pressure is going to be tremendous and very difficult to overcome. And the only way I would think that it could probably be overcome is a very positive sentiment toward the Pi cryptocurrency. You know, as to say, the founders, the management team, they would have to be constantly letting the community know that, hey, you know, you, you don't want to sell this at a discount, this Pi coin, right? If you're selling it for 60 cents, uh, we got some stuff on the horizon where, you know, you know, of course they can't discuss price, talk about price, but, uh, letting us know just how valuable the project is, letting us know about people getting their coins. Unfortunately, whenever, uh, with the— our project, right, it's a very similar idea. You mine the coin, uh, practically free, you get it free, and people take it to the exchanges, and some people hold it, some people sell it. A lot of people sell it. That is the nature, again, of free cryptocurrency projects. The idea is to grow the network, right, to achieve Metcalfe's Law, to grow that network exponentially, right? And you're going to do that a lot easier if you're, you know, not selling that coin to people, right? You want to get those people in the network. Now, so what the situation is If you're doing that, what you're getting with the Pi team, you need to be letting people know, you know, what's going great with that project. You can't go radio silent, not when you got so much potential for so much sell pressure. Now, on the flip side, sell pressure is not always a bad thing, right? Because if that price dips tremendously low, right? You could have a whole new market of people come in buying that coin at a cheap discounted price, right? And that happens sometimes too, provided Pi coin can keep the, the energy, you know, going with it. I don't know if they can do that or not. If it dips too low, it's very hard to say in projects like this. Um, and so, you know, with the migrations, right, that's another issue I think people are going to have with the Pi Network, right? And that is, um, why is it taking so long? Why is it such problems? Like with our project, you know, you know, uh, most projects, cryptocurrency, to receive your coins, right, a lot of times it's free. Now, I mean, it's, it's, it's not so difficult process, you know, within 6 months, maybe everybody, at least within 6 months, maybe everybody's got their coins, even with verifications and such. Pi goes through their verifications. It really doesn't have much to do with verification, more so the migration itself. I don't understand the components of their blockchain. I don't know if there are, you know, what would be technical issues why it can't migrate faster? Is there some type of manual review? If it is, then that makes a great deal of sense. You know, if you had to have somebody manually, you know, do these transfers, right? I would think that the first thing you would want to do with a project with, you know, tens of millions of people is get things together where you wouldn't have to do something like that, or where your technology and your process would be a lot more smoother because, you know, it's not a whole lot of things new under the sun. Very similar-like projects to Pi have existed and they've been able to do these things. Now, unfortunately, what can happen when you're having a lot of problems with your migrations and you're having a lot of issues within the Pi Network, what, what can happen is it can become a fill-in-the-blank situation. Conspiracy theories can emerge, right? And Are these migrations being held up purposely to keep the price from crashing, right? And so I don't know that, we don't know that, but I will say this, that is a concern of many projects where there is some type of inflation or people getting coins free and getting a great deal of coins free and they're worried about crashing the price, they're worried about the value of their network dropping. Very, very low. And this is what I would suggest in a situation like that, or what things have been done where you wouldn't have to deal with problems like that. So many projects, anytime that you're allotted coins, whether it be through some type of mining or airdrop or whatever the case may be, You know, what they tend to do, some of them, is they lock up a portion of your coins. So you have the coins, so many are locked, right? Instead of it being a willful lock, it's kind of— it's a more of a physical, you know, lock, right? And that's to keep you from just dumping all the coins on the market. I think Pi probably would have done better doing something like that, you know, if that was the concern. Again, I don't know. I think some of the community members may suspect things like this, and as the communication thins out, as it gets weaker, they will begin to assume many of these things are true. So whatever the case is, there's not a whole lot we can do. But I will say this, there are some things you can do as you await the migration. And that is projects like BitcoinMYK, which have a similar concept to Pi Coin. You get in, you start earning coins, you don't have to wait for your coins, you don't have to wait for migrations. The verifications and processes are a lot easier. You're up and rolling about 30 seconds and you're moving. You know, we have a cryptocurrency on several exchanges. Now, of course, with the project Brainstorm, let's get you over there real quick. The Pi Brainstorm. All right, taking a look at Pi Brainstorm application within the Pi Network, you can see that, you know, you see various projects of Pi projects that will be used by the community members and hope to grow value to the Pi Network, right? And I think this is great. This can add value to the network. Of course, this is talking about a social media hub, and this is very similar to what, uh, you know, we're doing, uh, with our project, right? BitcoinMYK. Um, and so you can use it, you can get the coins with it, you can trade it. And what happens with the Pi community, uh, as BitcoinMYK is a— our project is a, you know, it's more basically a multi-chain project. It will integrate with the Pi community. So you'll be able to take your Pi coins and you'll be able to move it through the social network. You'll be able to, you know, basically, you know, do purchases in it. There's going to be a lot of, you know, things that you can do within the network with cryptocurrency, whether you want to buy products or buy ad space, there will be methods you can use on our kind of social media everything app to use your Pi coins in that way. And hopefully by being able to, you know, do these various commerce and Pi coin, it will add value to the network, right? And so this is very interesting to watch. They're doing it. Somebody's doing a decentralized exchange, right, for Pi. Let's look at the social media hub. I just want to see what's happening here because, uh, FaceAH, how to start Face— okay, I'm not sure. Let me click up here, read more, see what it's saying. It says allows users to tip content creators using the cryptocurrency. Okay, develop a forum for blogging platform, upvoting, downvoting feature. So this is basically similar to what we're doing. Now the only difference is On the network, right, you'll be able to basically interchange, you know, your Pi with Bitcoin MYK and so on, right? And out of that, so it'll be basically all those aspects of that. But, you know, because you'll receive the Bitcoin MYK tokens free, you know, we have to give them to you in Bitcoin MYK tokens. But when you use so many, you basically swap out of them you'll be able to do various things, swap it against Pi and so on, right? So it's all very interesting. And those are things that you can do whilst you await the migration to the Pi Network. So I certainly encourage you all to check out our project, you know, that will be integrated into the Pi ecosystem, right? So very interesting stuff. All in all, I think Pi's doing as good as a job. I think that could be as expected at this point. Yes, communication is very important. I think that's something that can be easily solved by the Pi team, right? The founders. It doesn't take much to come on for 5 minutes and just give out, you know, some— let people at least know you're, you know, you're working diligently on the project and that, you know, you don't have to talk about, you know, when they're going to receive their Pi coins or the price or anything like that. But you certainly want to, you know, touch bases with your community, right? You don't want them to be fearful and in a kind of state of uncertainty, at least with what you're doing. You know, what the market's doing is you know, obviously different than what you're doing. But that's how I would look at it. Of course, the Pi team has got this far. Uh, certainly I believe it's no accident they've done that. So, um, you know, someone there knows what they're doing. Um, but yeah, I would certainly check us out in the meantime.

Use us. I think you guys will really like, uh, that. It'll take your mind off of the lack of communications, the migrations. I have no idea how long these migrations will take, uh, but from the price supply, we can see that the coins that are getting out are being sold off, uh, at alarming rates where the value of the Pi coin is dropping. So we'll have to just wait and see, uh, if that continues or if Pi gets back value and so on. That's all I have to say in this particular video. Guys, if you like content like this, don't forget to like and subscribe, share the video in Pi community, Pi Network communities, uh, so people can, uh, get information, uh, related to this.

And as always, take care of yourselves and each other.