The ‘Digger’ Pi Network Anxiously Waits For Valuable Virtual Money

Many people “digging” Pi in Vietnam expect the virtual currency to be used after June 28 and cost from a few USD to a thousand USD.

Pi Network Announces Launching Mainnet

In its announcement on June 21, the Pi Network development team promised to launch the official network (mainnet) on June 28. “The network is making steady progress towards the transition to the mainnet phase around Pi2 – June 28,” the announcement reads.

June 28 is also the birthday of the world’s richest billionaire Elon Musk. Many even hypothesized that Tesla’s boss was the mystery behind the Pi Network project.

From the night of June 27, the Pi community in Vietnam has started to rumble, waiting for Pi Network to enter a new phase. Many people claim to be shopkeepers; business people announced that they would accept Pi as soon as this contract could be exchanged, even though the use of virtual money as a means of payment in Vietnam is a violation of the law.

Huynh Tan (HCMC) said he was one of those people who expected Pi to have a price rather than zero as it is. He installed the app for almost three years, virtually no day without going into the app to “click the lightning bolt,” i.e., go to Pi Network, press the lightning bolt icon to score, from which the number of Pi in the account will automatically increase.

Will Pi cost more than a thousand dollars?

“The project has launched. Soon, each Pi will cost thousands of USD; what will you buy first?” Tuan Khang asked questions on the Pi Network with more than 100,000 members. Kang’s article attracted more than three hundred comments. Besides the opinion that the price of $thousand is impossible, not many people share the plan to buy a house, buy a car, or give money to people after selling Pi.

“I have been involved since the project was still in the experimental stage, being introduced to making digital money without losing anything. So far, the project is about to enter the official location; I most hope that I can exchange Pi for money or something,” Tan said. He didn’t believe Pi was worth a thousand dollars but hoped for only a few dollars or to be able to exchange goods.

He said:

“Pi Network has 100 billion Pi, so the price of a thousand dollars is very unlikely. However, this is a consensus price between the owners so that it can be any number,”

However, for the wishes of players like Tan to become a reality, it is essential that Pi owners can transfer this virtual money to each other. Since the end of last year, Pi Network claims to have launched the mainnet network divided into two phases: closed and open networks. In particular, the secure network is the internal transactions of Pi diggers with each other, while the available network is exchangeable with other digital currencies. So far, Pi owners have not been able to do anything with their Pi numbers.

According to Phat Vo, the administrator of the community dig Pi has more than 130 thousand members, so that the project goes to the next stage, it is essential to KYC, i.e., to verify the owner’s identity. “When the mass KYC is successful, the next steps can be carried out quickly,” Sich said.

In last week’s announcement, the development team confirmed KYC was available to half of the users. The mechanism of this project is that the person authenticated by KYC first will show the latter. The highest KYC rate in this network is around 90,000 people a day. The project has also claimed to attract more than 35 million users worldwide.

However, many people also doubt the possibility that the Pi Network project is on time or that the Pi is valuable.

“Their speech is uncertain, generally mainnet around June 28th. They promised the same thing at the end of last year, but so far, nothing new, ”said Anh Minh, a Pi digger. In addition, on Pi’s information pages, such as Telegram and Twitter, the project did not have any announcement on June 28. This move is judged unusual because most digital money projects consistently send information to users during critical periods.

In fact, in the past half-year, the Pi Network project has made some adjustments, such as reducing the Pi reception speed of users, requiring existing Pi keys, or implementing KYC on a large scale. Users can also transfer Pi to each other, but only on the test network with the “virtual” Pi number provided by the project.

So far, the number of Pi coins that users “dig” on the mobile application can not be put online officially or have any exchange value.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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