TOPIC#23: UNDERSTANDING WHY & HOW THE PIRCE OF PI CAN BE REALIZED AT GCV $3141,59? Dear Global Pioneers, I hope everyone is enjoying your weekend! I just checked Twitter and was delighted that many big influencers are promoting GCV now. This is really good news! I have also received some questions and have been in some country community groups where I have noticed some misconceptions that need to be clarified. 1. I would like to clarify that I do not have a Doctorate degree, but I have two Bachelor's degrees. Also, I am not currently employed in any bank, but I used to work for the Industrial & Commercial Bank of China in the past. I worked as an internal auditor and International Trade Department manager before. 2. Pi Network differs significantly from traditional cryptocurrency. Therefore, it is essential to forget the traditional cryptocurrency mindset. 3. Some of the pioneers believed that the price of Pi is determined by its supply and demand. 4. On the other hand, some pioneers believed that financial institutions and big companies need to invest money in Pi for the GCV price to materialize. That is why they are expecting investments from outside. My analysis is as following. Please remember this is for your reference only. I am not representing Pi Network. Pi Network is a unique cryptocurrency that takes a different path compared to the above traditional cryptocurrencies. The initial price of a cryptocurrency is determined by the fundamental economic principle of supply and demand. The perceived value of the cryptocurrency among potential buyers and investors influences the initial price. When demand is high and supply is limited, the price tends to be higher. However, it is important to note that the price of Pi Network is not determined by supply and demand, but by the consensus of its pioneers. Pi Network does not intend to go to the exchange market, and as a result, the price will not be decided by exchange market supply and demand. It is important to establish a unified price for Pi Network before it is listed on the exchange market. This price must be supported by the ecosystem to ensure its strength and stability. The current model of traditional cryptocurrency has failed to achieve its goal of becoming a mainstream currency due to the lack of this stability. Additionally, blockchain technology has not been able to effectively integrate into our daily lives, and many investors suffer losses in the exchange market. Some pioneers question on Atlantis exchange market list GCV price a few days ago. Atlantis Exchange is a US-based cryptocurrency exchange registered with US Department of Treasury as per its website. As CT announced Pi Network hasn't OM yet, the outside cannot connect to Pi Blockchain for real Pi selling and buying. Therefore it is only IOU ( Initial Offering Unit) allowed users to speculate o the future value of the Pi coin before its official launch. It's possible that the consensus among pioneers on the price of Pi coin could have an influence on the exchange market. The white paper of Pi Network outlines the motivation behind its creation and how it aims to revolutionize the traditional cryptocurrency model. However, the delay in the release and migration of Pi Network is due to the lack of consensus on the price. A high consensus price is necessary to prevent market speculation and ensure the ecosystem's development and success. Education is crucial in helping pioneers establish a consensus on the price and create GCV data. This will enable a smooth and faster migration process. It is essential to prioritize this issue as all ecosystem and merchants rely on the flow of cash. It is also essential to note that no financial institutions, governments, or big companies have come out publicly to support Pi Network. This is because Pi Network is like a baby that has not yet been born. The success of Pi Network is dependent not only on high technology in public blockchain and WEB3.0 but also on the consensus price reached by its pioneers. Now let's discuss why GCV $314,159 price is realizable. Currency appears when universal equivalents, which are commodities separated from the commodity world, express the value of all other commodities. The emergence of general equivalents is due to the expanded value form lacking a unified equivalent, which cannot adapt to the increasing needs of exchange. Therefore, the function of equivalents gradually stabilizes on a particular commodity, and general equivalents appear. General equivalents are equivalent forms recognized by society. Its natural form becomes the common value form of all commodities. It is directly exchangeable with all other commodities, relating to it as the incarnation of abstract human labor. All other commodities must first be transformed into general equivalents, and the private labor expended on them can be recognized by society and become direct social labor. General equivalents become the medium of commodity exchange and play the role of currency, but it is not yet money. Only when the function of general equivalents stabilizes in precious metals, can it develop into money. Pi has a great potential as a general equivalent since it already has a user base of 50 million people. It's also precious as Dr. Nicolas mentioned, (please don't use your app shows Pi amount because you cannot reach or realize it in short time) and has the foundation of a currency. We can all accept Pi as a general equivalent for measuring all sorts of assets, products, or services. As long as pioneers reach an agreement on the price, Pi can definitely be used as a currency. It's amazing to see how new technologies are changing the way we think about money and currency. The reason the traditional cryptocurrency price is determined by supply and demand is because it will be on exchange market. Cryptocurrency will be listed an asset just for buying. That's why the price is determined by supply and demand. PLEASE REMEMBER PI PRICE IS NOT DECIDED BY SUPPLY AND DEMAND. IT IS DECIDED BY PIONEERS CONSENSUS! The price of Pi, a cryptocurrency, is not determined by exchange market supply and demand since it does not intentionally participate in the exchange market. Consequently, Pi cannot achieve its objective of becoming a currency as its price fluctuates when subjected to supply and demand forces. As a result, traditional cryptocurrencies have failed to serve their purpose and have remained in the hands of a minority. Furthermore, the application of blockchain technology in our daily lives remains limited, whereas a significant number of investors lose money in the exchange market. Pi Network has been delayed for almost two years and cannot go to open mainnet. It's also unfortunate that CT cannot mass KYC and migration primarily due to this. It is because the price hasn't reached a consensus or is too low for OM, and the ecosystem is not developing well. It's essential to remember that when the price is not united, the ecosystem won't develop well. It's understandable that they may be short of cash due to this situation. The survival of these ecosystems and merchants is highly dependent on the ability to exchange to FIAT through OM. Cash flow is definitely a major concern for these stakeholders. If our pioneers can come to a consensus on the price that is high enough to resist exchange market speculation, so that the OM can happen and the protection mechanism can be put in place. Achieving a united price expeditiously is a crucial factor that can positively impact the ecosystem, merchants, and service providers in the long run. By reaching GCV, these stakeholders can develop confidence in making long-term investments. Notably, the proximity of the OM will play a crucial role in their cash flow planning, as the exchange of FIAT for cash flow will be realized at OM. Therefore, it is imperative to expedite the process of reaching a united price GCV, as it will help build trust and confidence in the ecosystem. So we can see it's pioneers delayed OM! Why? Because pioneers don't read white paper and a lot of pioneers have been misled in the "buying Pi "groups. So I said the solution is education widely! When pioneers reach GCV in our mind, heart and we create GCV data, OM will come very soon! and mass KYC and migration can happen. Many pioneers have been taking the wrong approach to Pi by looking for financial institutions to fund it, using the traditional cryptocurrency mindset. However, Pi Network has not received any public support from financial institutions, government or big companies(except the initial investors). This is because Pi Network, like a baby, has not yet fully developed. It is difficult for them to support something that is still in its early stages. Dr. Nicolas and Dr. Fan are both brilliant individuals, with Dr. Nicolas having been cited in Microsoft's Future of Work Report 2023. However, success for Pi Network will not come solely from high technology in public blockchain and WEB3.0. Many pioneers have chosen to do nothing and wait because they do not understand that technology is only one necessary condition for Pi's success, but not sufficient. Another necessary condition is the consensus price agreed upon by the pioneers. I believe that the process of creating GCV is not as difficult as some pioneers might have thought. In fact, it is not necessary to spend a lot of money to make GCV a reality. I have an article that explains why the price of GCV was set at $314,159 when it was first introduced to the global community. According to my article, this price is reasonable given the huge amount of global settlement needed and the current wealth being around 500 trillion. I estimate that the available Pi will reach around 1.5 billion when OM (right now is around 900 million), so it's important not to use 100 billion as the available Pi since most Pi cannot be released during the first three years or maybe 10 years or longer. Pioneers can create a stable and united price for Pi without the need for additional investments from financial institutions, governments, or big companies. This is because we don't require them to purchase Pi from us during the enclose mainnet to GCV price. Our pioneers have 50 million wallets, and 10 million wallets will be created when OM. If half of these 10 million pioneers create only one GCV transaction, it will add 5 million GCV to the blockchain, which will help establish the price of Pi. Each pioneer can barter products with a spending range of $1-$10. Once the price is fixed and united, Pi Network can announce OM successfully, just like a baby is born into the world. Since Pi Network has high technology as a backup, it will attract almost all the big companies, financial institutions, and governments to join our public blockchain and WEB3.0. This will create a huge demand for Pi as they will require it to use the Pi Network. This will create a demand for Pi. Due to the high price of GCV, the exchange market can list it, but it cannot be bought and held by the minority rich investors due to its high price. Therefore, it can be considered a currency with stable and dispersed character. In conclusion, Pi price is created by pioneers, and when we can unite the price to GCV, it will align with Pi Network's mission, and we will reach OM very soon!✌️✌️✌️✌️ Doris Yin 🪷🪷🪷🪷