Pi Network will reach 100 million users before Btcmyk?

Welcome back to the channel. I hope you're having a great day. So today I want to talk about the Pi Network reaching 100 million users before its mainnet launch. So interesting enough, we want to discuss some of the possibilities of that happening. Of course, 100 million users is a very large number. But looking at the data so far on the Pi Network, it is boasting 18 million users. That's about 18% on its way to its goal. So when is that going to happen? I think that's going to be the, the trillion-dollar question. When is that going to happen? Is the Pi Network going to just keep mowing right through these figures? Um, just, uh, around, uh, several months ago they were around 13-14 million. They packed on another 4 million users over probably the last 3 or 4 months. Is that number going to keep swelling, and are there really that many people in cryptocurrency at this point in time? So let's look at that, and then let's also involve the BitcoinMYK project in this As to say which is going to reach it first, and why is BitcoinMYK even a contender? BitcoinMYK has now, um, not even 13,000 registered accounts, and we've counted less than 14,000 across exchanges and wallets and holders of the BitcoinMYK token. So it's not even on the map. But why is it still a contender, and why could it be the difference between what type of crypto projects can reach 100 million users and which ones that cannot? So let's first talk about Pi Network and will it reach 100 million users. So first of all, 100 million users is a lot of people, and I think some of the last estimates estimated estimated that maybe there are 100 million users in cryptocurrency, period. Um, it might be somewhere between 75 million Bitcoin holders, maybe 100 million, perhaps. We also have the fact that these are probably not, uh, regular cryptocurrency users. This might be some people who just got a Bitcoin wallet. We could— this could also be multiple accounts. I myself have about 6 Bitcoin wallets. So many of these estimates are based on the wallets. But are there an actual 100 million users in cryptocurrency? Even if there is, that would suggest that the Pi Network would probably have to get everybody in cryptocurrency involved. Now, um, you might be thinking, well, they've done such a great job thus far with getting 18 million users, which is a tremendous amount of people. And I can only assume that their marketing campaigns must be of the top quality. Those type of numbers do not happen on accident. And whereas Pi Network is an interesting project, it's an interesting concept, it is not unique. There's nothing unique that I'm finding about the Pi Network that hasn't already existed in cryptocurrency, from phone mining to easy user interface mobile wallets. So they, they haven't reinvented the wheel here. So there's no reason to expect it to hit numbers like it's hitting, besides there just being a great marketing campaign. Um, so that's going to be very difficult, I think, for them to reach 100 million people. Another issue with the Pi Network may be that, uh, my understanding of it is that the source code is not open source, so we, we haven't been able to inspect the code of what's supposedly going to allow mining and blockchains to be run on these smart devices with a lot less energy efficiency was a huge problem in cryptocurrency. Um, that large amounts of energy expenditure, um, is going to slow cryptocurrency down. It is going to not be the model of the future. Many of the millennials today are going to denounce the large energy consumption. And where some people feel it's a myth about the energy consumption, it really doesn't matter because it is the story that's out, and it is the great concern that— and narrative that is being pushed. And so that's going to have an effect on environmentalists, green energy people, millennials, and everybody else who's who wants clean energy, which is most of us, which is anybody in their right minds. Um, so they're boasting that idea of the user friendliness, right? And that's a good thing to, to, to boost. However, there will— it is spawning much skepticism that why aren't they letting us see the source code now? And, um, In defense of the Pi Network in relation to Bitcoin MYK, it also doesn't allow its auto-curation system. It is not a code that has been released to the public to inspect or to recreate or anything of that nature. And when those things happen, there can spawn some skepticism. It can spawn some a distrust right now. There are many reasons why some projects might not want to release the, their technology, um, so on and so forth. There might be reasons that they will want this in the best of the public interest as well, uh, or the project's interest as well, to draw people in and not have it where people are, are doing the wrong things with the technology and the branding and so on and so forth. There may be some legitimate reasons why they don't want that, but in any event, it's looked at as negative. It creates distrust, and that could keep some in cryptocurrency out of Pi Network. That's obviously going to make it a little bit more difficult for the network to grow to numbers like that. Um, so I think if the Pi Network does reach 100 million users, I don't know when that's going to be, probably going to be a long time, probably going to be a long time. Will BitcoinMYK get there first? Well, one can never know for sure. However, here's what we have to look at, and this is why I think the BitcoinMYK network would probably have a better chance of pulling this off, even though now it's far behind in numbers. It's not even on the map. But what we have to understand is, um, found when a foundation is set for certain projects, uh, we have to look at the, uh, the fundamentals in that project. What would cause something to happen in the years coming forward. And what the BitcoinNYK project has is it has some similarities to the Pi Network, whereas every day you log in, you just earn the cryptocurrency. You don't have to go buy it, you know. It's more about earning these cryptocurrencies more so than purchasing the cryptocurrencies. And many cryptocurrency projects, we believe, have this backwards. Many cryptocurrency projects are depending on token purchases to pay for the energy, to pay for the miners, right, to pay the miner inflation. They're depending on people to go into these markets and buy these cryptocurrencies. And if people don't go into the market and purchase these cryptocurrencies, the value of the cryptocurrency is reduced down so much that, um, it may cause people not to want to mine the token. It might not be as profitable to mine, and the security of the network starts to waver a bit. Whereas with projects like Pi Network, Bitcoin, and YK, the way that these networks are composed, they can run without the miners, so to speak, right? And so what you have is you have basically a model that is going to be more about network effect, brand effect. And the growth of the network giving it value more so than can people come in and buy the cryptocurrency so it can be sold on the market. Um, because of that, uh, something like the Pi Network, um, I think it's gonna do fairly well. However, one of the big issues with the Pi Network is, is does the technology really work like they're telling us. And there's many reasons to doubt that it works like they're telling us, or that is going to work like they're telling us. And it's also, uh, we believe, or some believe, the reason for the holdup is that maybe the technology isn't there, and people are now coming in. And although they may not be directly investing in the cryptocurrency, they are investing their time They are investing their attention value. The Pi Network is running advertisement and running people, uh, making money off of people viewing their application. And I, I feel like that is a, a bit of concern. What I think is that the Pi Network shouldn't have released the advertising app until they release their product. So it seems like to me what may be happening is they're raising capital through this ad network they have to be able to put money back into the cryptocurrency. That, that is what's coming to mind. That's the only reason I think why they want to release these things, right? Um, if you want to test the ad network, you do not have to run these live ads that people have to watch, right? These advertisers are making money off of this, they're getting value off of this, and why is the network being exposed to it until they can get value off that? So I definitely disagree with the Pi Network on that. I think it's a bad look for the Pi Network. But getting back to the BitcoinNYK project, very similar ideas. The cryptocurrency is released, people can trade it, uh, over third-party exchanges. I Uh, it does have an ad network as well, um, but, uh, the Bitcoin MYK project, it has a social network that is more designed like mainstream social networks like Facebook, and it has, uh, as well the distribution of the cryptocurrency every day through the system for just people doing normal things they do online. So it, it's a little bit more widespread out than the Pi Network just relying on a mobile app. And you could do quite a lot of bit more things with the BitcoinMYK project. But as far as the distribution rate of these cryptocurrencies, there's, there's very similar, uh, uh, structure there. Uh, with BitcoinMYK, um, and the Pi Network, even if there's great criticism on it about its code not being open source, I think we can all agree on this, whether you're looking at the Pi Network or the Bitcoin MYK Network, these are cryptocurrencies that are going to end up with some of the best distribution models we've seen in cryptocurrency. So the point I'm making to a lot of these technocrats and, uh, technomaniacs is that just because a project may not let you take apart their code, it doesn't mean that that project may not end, um, the best for the, for the space. And what I mean by that is, what difference does it make if I can take away the code of your project but there's still one guy who owns 60% of it, or one guy that owns 30% of it, like the case of, um, of, uh, Ripple and XRP? And in case of Dogecoin, right, we have one guy with over 30%, have an entity with over 60%. Does it really matter that if you can see the, the open source code that is giving you access to decentralization? Because that doesn't seem like a decentralization to me, at least not where it matters, right? So if you can look at the code but you still got one entity owning 60% of cryptocurrency, what is looking at the code going to do about that bad decentralization that has your blockchain not decentralized? I really wish some of the Einsteins would give me an answer for that. But this is clearly to me something that's not going to happen with the Pi Network, and it's not going to happen with the Bitcoin MYK project because they're going to have some of the best decentralization distribution of the network that has existed in the history of cryptocurrency. And whereas Pi does have those setbacks that I mentioned earlier, they don't have a setback there. So I do think they're going to be a contender in the future, right? Uh, I don't think— I'm just going to read a little bit excerpt here just to go deeper into what I'm talking about because I just can't believe people don't catch this. And we're supposed to be a space of intelligent people. But we're proving otherwise. People are just so greedy that they're leaving their common sense at the door right now. Listen to this excerpt from the Pi Network and listen carefully. To provide some context, 87% of all Bitcoins are now owned by 1% of their network. Many of these coins were mined virtually free in their early days As another example, Bitmain, one of the biggest— one of Bitcoin's biggest mining operators, has earned billions in revenues and profits. So let me stop right there. 80% of the Bitcoin network— I got to do a video just entitled that, that, that title should take down Bitcoin altogether— but 87% of the Bitcoin network is owned by 1%. Think about that. That's craziness. That's insanity. Is that going to happen with the Pi Network? No. Is that going to happen with the Bitcoin NYK project? No. But, uh, a lot of naysayers are gonna, you know, gonna— they somehow gonna still think that these projects are in a great— Bitcoin NYK and Pi Network are going to be really great projects, but I do think Pi Network will have trouble reaching that 100 million people to launch the mainnet. I also think that Pi Network has been a bit disingenuous about their process through all this, and I think that's a shame because I think everything so far had lined up great with the project, but there's something about that advertisement network launch that rubs me the wrong way. Not, uh, um, releasing the main app versus— seems to me like they're trying to put the cart before the horse. And, uh, that's a concern to me. But anyway, guys, tell me all what you think about that. That's all I want to say in this video. If you like content like this, don't forget to like, subscribe, and until next time, as always, take care.