Will Elon Musk Really Accept PI Coin Payments?

NOIDA (CoinChapter.com) — Pi Network, the mobile-based crypto mining project, is famous for two things: delaying the launch of its mainnet and its legendary shilling campaign. Now, the project has started leveling up its shilling game and has involved Elon Musk in it.

The platform allows users to mine PI coins using their mobile phones and claims to become the next Bitcoin or the poor man’s Bitcoin one day. However, Pi Network’s open mainnet launch delays, coupled with the recent downpour of scams, might leave a bitter taste in investors’ mouths.

“Elon Musk To Accept Pi Network Tokens.” Yeah, Right!

The project’s earlier shilling campaigns sometimes included ridiculous surveys asking users whether they believed the PI coin price would reach $314,159 (the value of pi, the mathematical constant) on the mainnet launch.

Supposing it does, some simple math will show that the price label would essentially give PI coin a market cap of $21.4 trillion, based on its self-reported circulating supply. But before that, the Pi Network open mainnet needs to launch.

Now, a new speculation is doing the rounds on social media that Elon Musk might soon accept PI tokens as a payment medium. However, the rumors fail to clarify which one of Musk’s multiple businesses would be blessed by this holy union.

Any crypto’s association with the Dogecoin-loving billionaire acts as a bullish cue for that token. However, given that Musk is an astute businessman, the Tesla CEO would not incorporate something like PI coin into his businesses.

Many believe Musk should accept the Pi Network token, as partnering with the project would help move the “world global economy and technologies to the next stage.”

How the Pi Network influences global technology is anyone’s guess!

Another PI coin-using, hopium-addicted professional delusionist speculated that Elon Musk might be waiting to swap his Bitcoin holdings for PI coins once the mainnet launched. Ahh, the sweet mindlessness of dumb beliefs and dumber logic.

Why Elon Musk Is Most Likely Not Associated With Pi Network

Apart from the obvious scam allegations, Musk is more likely to do a space walk in a T-shirt than accept the Pi Network token as a payment option.

Firstly, strictly speaking, there is no such thing as a PI coin. Until the mainnet launches, the mined Pi Network tokens hold no value.

Since the Pi Network remains a testnet, the PI coins trading on exchanges like HTX and BitMart are IOUs, as in traders exchanging promissory notes rather than the actual token itself. Hence, the entire PI coin market is currently based purely on speculation.

Second, The Pi Network token’s IOU value recently fell over 98% on CoinMarketCap, though the charting website’s data showed the price drop occurred only on some exchanges. Such volatility cannot be the mark of a practical payment option.

Third, Pi Network founder Dr. Nicolas Kokkalis has a nearly zero presence. The Pi Network founder remains conspicuous in his absence, leading some to wonder if he is still alive or dead. More often than not, Pi Network shilling sites like Hokanews quote months-old quotes from Kokkalis as breaking news.

Someone named Eric Olson approached CoinChapter with allegations of dishonesty among the top management at Pi Network.

I’d love to know what is going on “behind the curtain” with Pi. My guess is that Nicolas Kokkalis and Chengdiao Fan and the rest aim at getting rich by exploiting social media strategies to fuel their crypto startup.

Olson said in a LinkedIn message.

CoinChapter asked Olson for more details but has yet to receive a reply. This is similar to how the Pi Network team is waiting for Elon Musk to wake up one day and go PI coin shopping.

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