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Pi Network Mainnet Launch Delays Cast Doubt on Pi Coin’s Intrinsic Value

27d ago
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Pi Network mainnet launch
Does Pi Network Coin Have Any Intrinsic Value, or Is It Worth $0?

PATNA (CoinChapter.com)—Pi Coin, developed by the Pi Network, has often dreamed of becoming the next Bitcoin. However, it has disappointed its followers with multiple mainnet launch delays and scam scandals.

Despite the project’s intense shilling campaign, the cryptocurrency’s intrinsic value remains debatable, especially with continuous delays and lack of transparency in launching its open mainnet network.

While Pi Coin’s mobile-based mining method theoretically makes crypto mining more accessible, many wonder if it holds any real value or if it is ultimately worth $0.

Examining Pi Coin’s Value and Mining Costs

Mining Pi Coin involves minimal costs due to its mobile-based system, making it accessible to a wide audience. A typical smartphone, costing $500 and lasting three years, incurs a daily depreciation cost of $0.46. The electricity consumption, assuming 1% of a smartphone’s daily usage, adds about $0.000014.

Additionally, daily data usage of 5MB costs approximately $0.049. Combining these factors, the total daily cost of mining Pi Coin is around $0.509, translating to $15.27 monthly. Given an average yield of 2.4 Pi Coins daily, the cost to mine one Pi Coin is roughly $0.21.

However, the question of Pi Coin’s intrinsic value extends beyond these low mining costs. The Pi Network boasts a vast and hyperactive user base, potentially driving demand and likely to increase the coin’s utility and adoption when and if the mainnet launches.

Pi Network mainnet launch
PI coin shilling must be a high-paying job, given the dedication.

Not to forget, the project also boasts an overly active shilling team that would likely convince a newbie that there is no crypto project better than Pi Network; the mainnet launch already happened, but everyone missed it, so they rolled back the update, and PI coin would cost more than $314,159 soon.

Mass hallucination, hypnotism, and delusion all “rolled” into one hopium-filled joint!

No Pi Network Mainnet Launch Also Means No Exchange Listing

Without the Pi Network mainnet launch, miners essentially hold empty promises of a token, nothing more. The PI coins trading on exchanges like HTX represent IOUs.

The IOU system means that participating exchanges would trade future PI coins at the current IOU value. Despite several claims of users accepting PI coins as a currency, real-world usage for the Pi Network token remains limited.

Pi Network mainnet launch
PI Coin price action since launch. Source: Tradingview.com

However, past fractals suggest PI coin IOU price is due for another spike, like it has done twice in the past after a period of downtrend. Beyond that, however, PI coin’s future remains muddy as long as the project does not launch its open mainnet.

The lack of exchange listings means Pi Coin is not yet tradable on major platforms, keeping its market value speculative. Moreover, the delays in launching the open mainnet network and the current lack of proven utility further contribute to doubts about its real worth.

Moreover, the absence of Pi Network founder Dr. Nikolas Kokkalis should also be a cause for concern since the founder’s disappearance could hint at a scam in the making

The Pi Network founder’s last Instagram post was in 2020, and his presence on other social media platforms is equally invisible. Hardcore Pi Network shilling machines, high on hope-cain, share the founder’s old speeches as the latest or breaking news.

Until the Pi Network launches the open mainnet and lists the coin on major exchanges, investors will speculate on its intrinsic value at best. The low cost of mining makes it accessible, but without concrete use cases and market acceptance, people may continue to question its true value.

The post Pi Network Mainnet Launch Delays Cast Doubt on Pi Coin’s Intrinsic Value appeared first on CoinChapter.

27d ago
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bearish:

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