The Story Of Pi Network

In this video i want to talk about the pi network or as many people call it the stanford cryptocurrency project this is a project that has been getting a lot of attention from people and i want to answer one of the biggest questions about the pi network which is how much a pie coin can be potentially worth this is something that has been on my mind for a long time ever since i decided to start mining pi myself and when i first heard about the project i never expected to start mining pi because at first i really did think it was a scam i would consider myself a pretty skeptical person and when i saw the project a lot of the things seemed way too good to be true you get to earn free coins on the app simply by clicking a button every 24 hours and for almost zero work at all you get to earn what many people potentially call the next bitcoin and let's be honest for a second because this idea comes off super scammy and it wasn't until i started to do research on this project where i learned that it wasn't actually as scary as i thought it was this isn't a financial scam like a pyramid scheme a ponzi scheme or even a multi-level marketing scheme because you don't really put any money onto the platform and if you really think about it pyramid-like structures exist almost everywhere any corporation has a pyramid-like shape but this doesn't make everyday corporations a scam because you're not losing more money than you make in fact working at a corporation is how most people make a living in america and if we add that logic to the pie network you're also not losing more money than you make in fact you don't lose any money at all because you don't put anything in and another argument is that this company's stealing your time and data but there hasn't been any reported case of anybody's data being stolen and you spend less than a second on the app every single day and you can even turn off their advertisement if you want to and the question now is if this company's not stealing your time your data or your money what is this company even doing and if we eliminate all the options i just mentioned maybe this company is honestly trying to build a legit cryptocurrency i mean the developers here are actually really smart people and they have the talent and skills to really create an authentic cryptocurrency and the project has been doing everything that a legit cryptocurrency project would have done so far therefore i really do believe that this might be one of those rare legit projects that you see once in a while and if you guys do decide to sign up make sure to use my invitation code magic tuna and this is going to give you access to the application and also our chat room and i know invitation codes like this can be annoying but if you really think about it this is also one of the best ways for a project to promote itself and one thing you have to understand about the pi network is that it gets more secure as a network grows and this is because the pi network relies on the most trusted members to determine who has what on the network and it's one of the reasons why the pi network is so harsh on people with fake accounts or unverified accounts because to make a cryptocurrency based on social networks you have to have real people in it and if you want to learn more about this make sure to check out my first video on the pi network but in this video we're really going to estimate how much a pie coin can be potentially worth and i think one of the easiest way to start off is with a simple google search and if we click the link here we can see that some websites estimate the price to be around a dollar and 66 cents right now and if i'm being honest here this would actually be pretty ideal because for every coin that you mind you can freely convert it into about a dollar and 66 cents right now and if we look back to the goal of this project the developers really want to create a currency that people use for everyday transactions and for the price of this to be worth around 1.66 i would say that this is pretty consistent with the go of the project now we can't be 100 sure on this price right now because the price we see isn't based on supply and demand for example we really don't know how many pie coins there are out there and we also don't know how interested people are about the pi network and also it's pi coin and after really researching this project i realized that the developers here are actually pretty smart about preserving the value of any pie coin and i actually think that the price of a pie coin can actually be a lot higher than just a dollar and 66 cents one thing i realized about this project is that the developers here are really good at increasing the demand for pie coins and also decreasing the supply of pie coins i'll give you guys an estimate of how much i personally think a pi coin is going to be worth in the later parts of this video but for now hear me out for a second the first thing i want to talk about is really the supply portion of how much a pie coin can be potentially worth basically you can say that the less pie coins there are the more bang for your bucks and having a limited supply is really important for the future price of a pie coin but not only do the developers here limit the supply of pie coin but they also reduce it at a given time one thing i noticed but i'm not sure how many other people notice is that the pie network will actually slowly release coins into your account periodically and let's take a look at the white paper for a second that says this supply is then released over the lifetime of that member based on their level of engagement and also contribution to the network security and what this really means is that each member on the network would earn less over time but this wouldn't actually be a bad thing necessarily because every other person would also be earning less on the network and now assuming that the demand is still there you're going to be able to get so much more for each individual coin that you mine overall i think this is a great move because let's apply a higher price but i think it even gets better than this one thing that the pi network is known for is how hard it is to verify an account and i know it gets annoying for people to have to verify your account with a phone number or a facebook account but it does have a purpose this would mean that in the future all the coins mined by these unverified accounts would be eventually destroyed and as a result any remaining coins on the network would see an increase in value so to sum up the supply side we can see that the network does some great things to preserve the value of a pi coin and this includes some of the things i just mentioned like reducing the amount of coins in circulation now the thing we have to remember is that supply is one part of the equation to help us figure out how much a pie coin can be potentially worth and this part is largely determined by the creators who plant this whole thing out but on the demand side the creators here have much less influence on how much someone else is willing to pay for a pie coin well that was actually what i thought at first but after researching and really thinking about this topic i realized that they put a lot of thought into the demand side of a pie coin as well you see the demand for a pie coin is going to be based on how much publicity the company can generate for itself if you stop and think about it this explains a lot about the project and why the project has a referral system because a referral system is probably the cheapest and fastest way to promote anything and if i'm being honest here i myself also learned about the pi network by seeing one of these comments in my videos and i know a lot of these referral codes can look super scammy but it does have a purpose because of these referral codes a lot more people are going to know about the pi network and the more people that know about the pi network the more demand there is for the project and to give you guys some perspective the pi network is already the ninth largest cryptocurrency in the world and that's great news for the demand side and also the potential price of a pie coin because this would give it a legitimate shot of being listed on an exchange like coinbase or kraken a lot of money flow into these websites and this would just mean that buying a pie coin would be much more accessible for the average person i think the referral system has done a lot for the project and feel free to leave your own referral codes below i mean most of us would have probably never heard about this project if it wasn't for the referral system and i do believe that without the referral system this would be another project that no one would ever hear about so basically i'm really glad that they decided to add this in and i think it was really smart for them to do so the last thing i want to talk about before i tell you how much i think a pie coin is going to be worth is really the growth of cryptocurrency in general i personally got myself into cryptocurrency back in 2017 and since then i think it's become a lot more mainstream nowadays people like elon musk and also mark cuban promote cryptocurrencies and not to mention the recent run with dogecoin which sparked a lot of interest in a lot of people what i'm trying to say here is that this can equal a lot more demand for cryptocurrencies in general and also pie coins and i have no doubt in my mind that the price of a pie coin will continue to rise over time as the interest in cryptocurrency grows and after examining both supply and demand we can see that the price of a pie coin is likely to rise in the future and here's what i think the price of a pie coin might actually be and let's try to work this out right now just using what we know so far we know that the creators of this project have a lot of control over how much pie coins they want to release and the goal of this project is to create a coin that's used in everyday transactions and they probably don't want to release too many coins at once because this would dramatically increase supply and decrease price and discourage a lot of people on the other hand they also don't want to release too few pies because this would dramatically increase the price of pie coins and make it hard to use it for everyday transactions so it looks like to me they're going to somehow meet us in the middle and i wouldn't be surprised if the price ended up being a dollar and 66 cents because this might be the only benchmark that people have to determine how much they want to sell a pie coin for so in general i think the price of a pie coin might bounce around a lot but i wouldn't be surprised if it nears a dollar and 66 cents because that's really the only thing that people have to determine how much they want to sell it for and at that price point it's great for the developers who want to use it for everyday transactions and also the network members who want to profit from the coins but for me personally i probably wouldn't sell a pie coin right when it's released i think with so much publicity behind the project the price of a pie coin is likely to increase and by that time this will be a decentralized currency where no one actually controls a price meaning that it can go as high as it wants to and with the mainstream media taking a hard look at cryptocurrencies i don't see why this coin wouldn't increase in price the ceiling for a pie coin can go as high as 20 30 40 and since there's a finite or a limited amount of pie coins the price will continue to go up as demand picks up so i personally think that pie coin is gonna be worth around a dollar and sixty six cents when it first launches but as time goes on and people get more and more interested into cryptocurrencies the price is going to continue to rise as much as ten dollars twenty dollars and way beyond that this is because by that time the developers here don't have control over the cryptocurrency and also because i think in 20 to 30 years cryptocurrencies will be a lot more common in our society therefore if i had to give you guys hard numbers i would say that the price of pie coin would start off at a dollar and sixty six cents but eventually get to ten dollars twenty dollars and even thirty dollars over time to be honest i'm not 100 sure this will happen but this project doesn't take a lot of time and effort to complete and all you really do is spend 10 seconds pressing a button every single day so you don't really lose a lot from doing this i think most people are gonna walk away from this project with a couple hundred dollars or even couple thousand dollars make sure to like and subscribe and check out some of the links below for free offers stay tuned for more videos about alternative investment opportunities in the future and like always i'll see you guys again next time