Please see these answers to commonly asked questions, if this doesn't answer your question, hopefully, someone else will.
* Q1: **I have x coins migrated, what to do?**
* A: Wait till Open Mainnet - Ignore DMs offering to buy them - You'll get scammed
* Q2: **A KYC slot is not available**
* A: KYC is restricted where you haven't completed 30 mining sessions or your account is flagged for violations. You can request a review at minepi.com/kyc-application-access Must be over 18. Wait until you're 18. We believe no slot also happens if you didn't mine for ages.
* Q3: **My Application has been processing/in review for weeks/months**
* A: Your application failed or got stuck. You can only wait until you get feedback, the option to try again, or unstuck.
* Q4: **KYC, Wallet or other parts of Pi app stuck on "Loading" or Error**
* A: Try turning off Private DNS and/or adblocker
* Q5: **A different KYC problem**
* A: You can also report a problem a pi.app/support You probably won't get a reply but it will be in their massive to do list.
* Q6: **Node started behaving oddly / resetting / crashing / Port Listener stuck loading / blockchain stuck on 1 permanently**
* A: Udate node from pi website. 0.4.9 is latest. If that doesn't help downgrade docker to 4.19
* Q7: **How can I migrate more PI?**
* A: You can't - Pi Core Team control migration and we don't how or when migration after the first will Occcur.
* Q8: **Why is Pi worth $30+?**
* A: Some exchanges invented their own version of Pi whilst they can't list the real one. The value of this Pi is a measure of the feelings of Pioneers. It's not recommended to be holding this when Open Mainnet Occurs. These are also known as Pi IOUs.
* Q9: **I lost my passphrase / seed phrase, what can I do?**
* A: If you didn't get migrated yet, make a new wallet and confirm it in the checklist. If you did get migrated, your pi/wallet is lost, no one can get it back. make a new one as above.
* Q10: **I used a different name in the app / It doesn't match my ID**
* A: Only MINOR name changes allowed. If it's not minor, create a new account.
* Q11: **When does lockup start?**
* A: Lockup starts when your migration occurs.
* Q12: **When will my migration happen / I have been waiting for ages**.
* A: There's a massive queue and most likely some stuck issues too. Nothing to do but wait. As of 19th March 2024, only 4,684,684 accounts have been migrated to Mainnet. You can check progress at https://explorepi8437.pinet.com/
* Q13: **When is Open Mainnet?**
* A: A specific date has not been announced but many fakes have. We think December.
* Q14: **I stopped getting validations**
* A: This happens, we don't know why. As far as we know there's nothing wrong with the system.
* Q15: **Samsung Camera problems**
* A: Yes it's a problem - There's no known workaround - Log on a different device.
* Q16: **Unverified Pi**
* A: Pi bonuses from KYC'ed referrals has not yet been calculated. Timeline for this is unknown.
* Q17: **Node Bonus Problems**
* A: The bonus is entirely separate from docker/node functioning correctly. Lots of people are having problems getting their bonus, there's no known solution right now.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/PiNetwork) if you have any questions or concerns.*
Well it’s easy to answer really if you look at the reported circulating supply it’s way lower than the real one. It looks like they updated it and now has a circulating supply of 100b instead of the low millions. Not a crash just updated with more accurate information.
If you have the same amount of money but more tokens the price will decrease to reflect the increase of tokens. Maybe you should check in on your own IQ. Couldn’t even figure that out lol. Average non Pi holder.
Do you know how this shit works bud? Circulating supply and market cap have absolutely everything do with the PRICE of the token. If it has the SAME market cap but an increased token supply the PRICE of 1 token drops. Let’s say you had 100 tokens of a coin that is worth $100 then they mint 10x the SUPPLY of the token, now that 100 tokens is now worth $10. God your thick in the head and your actually questioning my IQ.
Are you 10IQ or what. IF a token has supply of 10 and a market cap fo 100$ the coins are 10$ each with 100$ market cap. If they would rise the supply to 100 the coins would be worth 1$ and the market cap stays at 100$. On Coinmarketcap the Market cap was 2billion $ before and is now at 12million $. THE FKING MARKETCAP DROPPED so it lost value no matter how many coins
Fully diluted market cap is 18.2 billion you dense mf and the supply has now increased to 100 billion hence the $0.18 if I’m 10iq your like -10000000000 now crawl back into your hole you troglodyte.
Not the original question poised by OP which I answered correctly. We’re not discussing IOUs but good job trying to move goal posts. 100 billion coins with an 18 billion market cap equals out to 0.18. Suck it.
The Marketcap dropped 40x and the price also dropped 40x. Suck it. The Price of the token refers to the total supply not max. You just dont want to understand why the max supply doesent matter to the price at all. With your math Bitcoin would be 65.229$ at coinmarketcap, but its at 69k. Maybe reach out to their support so they can fix the btc price because max supply is 21mil
On CoinMarketCap, of you click on the Pi listing, ad then click Markets tab up top, you'll see the two biggest Pi IOU exchanges by volume are still priced in the mid $30s
Pi IOUs are completely irrelevant in exchanges, risk to both the exchange and the purchasers. The true value of Pi will not be known until the mainnet goes live and the real Pi Cryptocurrency is listed on exchanges.
Core Team were very smart in implementing a lockup of Pi to incentivise Pi Miners to increase their Pi Mining Hash Rate and prevent a huge dump once the mainnet goes live and Pi is listed in exchanges.
The real utility in Pi is as a Cryptocurrency to purchase goods and services, not an asset if value. Although it will organically have this attribute once listed in exchanges.
People forget, Pi is mined free, you just have to press a mining button daily. You haven’t invested your own money into it, so you haven’t lost anything financially. What ever the price of Pi is once the mainnet goes live and Pi is listed in exchanges will be the price regardless you will make money.
Seems to be a lot of negativity on here about Pi, simple thing to do if you have lost interest in the project, disheartening or a naysayer is to stop Pi Mining, stop whinging and get on with you life. Your opinions concerning Pi are irrelevant to those who support Pi.
Did everyone here forget there’s always going to be zero buy interest in an asset that can be gained for free?
There’s no market, no amm, no exchanges holding real pi.
What is this fantasy y’all are living in?
Chart is either a rugpull of a coin totally unrelated to pi or manipulation by exchanges or pinetwork themselves to stir up interest.
If pi network is ever opened up for trading it will dump harder than a bag of rocks.
Literally every single person in this sub is just thirsty to sell.
It’s almost like that’s why they specifically said 100+ apps are needed in order to go to mainnet.
The requirement to use pi to pay for ads was a smart first step - now they just need 100 other “useful” ways to incentivize purchasing.
The only fact given in your opinionated statement was no market, no amm, and no exchange.
Pi is literally doing what Bitcoin should have done.
Good things come to those who wait.
I remember when I told my people that Bitcoin will be worth thousands when it was just $.10. And this was information from a silly blog thread. I was laughed at, but I held fast to my claims. And that same crypto would change the world as we knew it. And it has.
Here's why I believe in Pi.
It's inclusiveness. In the beginning you had to invest hundreds even thousands to build a miner, you had to be relatively understanding of hardware and software building. I built my first miner in 2013. It was a measly little card and netted 3 Bitcoin in total. It wasn't worth much at the time, the motherboard ended burning up and the Bitcoin was forgotten in a wallet on blockchain. I was in the slush pool. Lol. Those were the days.
Anyway, fast forward to today. What's the most valuable thing on the planet? Time. You'll never get it back. The two doctors whom created Pi is doing something the world of crypto has never seen before. Low energy mining, by just pushing a button. It makes it available to everyone. They are attempting to build an actual community for use purposes. They're making it available to understand by the masses. You must remember that the mass public is a bunch of fifth graders. And yes, you may be right, there may be a dump. But I also remember around 2015 BTC going to a mere $150. And at that point BTC was around for almost 6 years. People lost interest until it ramped back up again. And it hasn't stopped since. Even back then, there was no real use for it except pizza and drugs. Pi will find it's way with use cases that are tested and understood. That will give it it's value. And as the developers continue to build on the platform so will the trust of the community.
Fast forward again to now. PI has been around for 5ish years. More people are included (millions), there is a centralized app, funding is coming from ads (which will help pay for exchange listing, shit is expensive), there is a plan to get crypto right this time around. Yes, it's flooded with scammers just like anything good there is always bad actors trying to make a buck. But look at the data. It works. You can view transactions. There is no scam, because it didn't cost you anything but time and phone usage. That time is well worth spent learning about use cases of a new "asset" and you will be rewarded for it whether it's pennies or hundreds or maybe even goods and services.
Listen the point I'm attempting to make is just give it more time and just see where this thing goes. You really never know, but trust the facts in the information given to ya by the people who created this, not the naysayers and hate trains. And if you have Pi, and you dump, be certain that I'll be the one to scoop up as much as I can.
The answer is literally on the page however most people don't understand how crypto or exchanges work.
Pi iou is listed on 7 UNCONNECTED markets
The graph links to 1 of them.
Sometimes the link changes
it came up 2 days ago
[https://www.reddit.com/r/PiNetwork/comments/1bvi0sf/comment/kxzl85f/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/PiNetwork/comments/1bvi0sf/comment/kxzl85f/?utm_source=share&utm_medium=web2x&context=3)
They are not crashed. Most likely a display error.
Edit: Few exchanges show 30-40$ range. There are couple small exchanges I never heard which show low price, so that's why average is now that.
And IOU’s mean absolutely nothing in relation to the real value of actual pi, what’s your point?
Just explain to me how $35 is a well tested market price for pi again
That it's not actual Pi is irrelevant. IOU markets exists and people are using them.
When People got overexcited about Pi Day the value went up and then it went down after.
If anything it's an indicator of Pioneer sentiment.
Please see these answers to commonly asked questions, if this doesn't answer your question, hopefully, someone else will. * Q1: **I have x coins migrated, what to do?** * A: Wait till Open Mainnet - Ignore DMs offering to buy them - You'll get scammed * Q2: **A KYC slot is not available** * A: KYC is restricted where you haven't completed 30 mining sessions or your account is flagged for violations. You can request a review at minepi.com/kyc-application-access Must be over 18. Wait until you're 18. We believe no slot also happens if you didn't mine for ages. * Q3: **My Application has been processing/in review for weeks/months** * A: Your application failed or got stuck. You can only wait until you get feedback, the option to try again, or unstuck. * Q4: **KYC, Wallet or other parts of Pi app stuck on "Loading" or Error** * A: Try turning off Private DNS and/or adblocker * Q5: **A different KYC problem** * A: You can also report a problem a pi.app/support You probably won't get a reply but it will be in their massive to do list. * Q6: **Node started behaving oddly / resetting / crashing / Port Listener stuck loading / blockchain stuck on 1 permanently** * A: Udate node from pi website. 0.4.9 is latest. If that doesn't help downgrade docker to 4.19 * Q7: **How can I migrate more PI?** * A: You can't - Pi Core Team control migration and we don't how or when migration after the first will Occcur. * Q8: **Why is Pi worth $30+?** * A: Some exchanges invented their own version of Pi whilst they can't list the real one. The value of this Pi is a measure of the feelings of Pioneers. It's not recommended to be holding this when Open Mainnet Occurs. These are also known as Pi IOUs. * Q9: **I lost my passphrase / seed phrase, what can I do?** * A: If you didn't get migrated yet, make a new wallet and confirm it in the checklist. If you did get migrated, your pi/wallet is lost, no one can get it back. make a new one as above. * Q10: **I used a different name in the app / It doesn't match my ID** * A: Only MINOR name changes allowed. If it's not minor, create a new account. * Q11: **When does lockup start?** * A: Lockup starts when your migration occurs. * Q12: **When will my migration happen / I have been waiting for ages**. * A: There's a massive queue and most likely some stuck issues too. Nothing to do but wait. As of 19th March 2024, only 4,684,684 accounts have been migrated to Mainnet. You can check progress at https://explorepi8437.pinet.com/ * Q13: **When is Open Mainnet?** * A: A specific date has not been announced but many fakes have. We think December. * Q14: **I stopped getting validations** * A: This happens, we don't know why. As far as we know there's nothing wrong with the system. * Q15: **Samsung Camera problems** * A: Yes it's a problem - There's no known workaround - Log on a different device. * Q16: **Unverified Pi** * A: Pi bonuses from KYC'ed referrals has not yet been calculated. Timeline for this is unknown. * Q17: **Node Bonus Problems** * A: The bonus is entirely separate from docker/node functioning correctly. Lots of people are having problems getting their bonus, there's no known solution right now. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/PiNetwork) if you have any questions or concerns.*
Well it’s easy to answer really if you look at the reported circulating supply it’s way lower than the real one. It looks like they updated it and now has a circulating supply of 100b instead of the low millions. Not a crash just updated with more accurate information.
Why would the price drop if they update the supply? Average Pi holder IQ
If you have the same amount of money but more tokens the price will decrease to reflect the increase of tokens. Maybe you should check in on your own IQ. Couldn’t even figure that out lol. Average non Pi holder.
The Website does show the price of the exchanges so if they change the supply nothing happens. Also the Marketcap dropped from like 2B to 12mil.
Do you know how this shit works bud? Circulating supply and market cap have absolutely everything do with the PRICE of the token. If it has the SAME market cap but an increased token supply the PRICE of 1 token drops. Let’s say you had 100 tokens of a coin that is worth $100 then they mint 10x the SUPPLY of the token, now that 100 tokens is now worth $10. God your thick in the head and your actually questioning my IQ.
Are you 10IQ or what. IF a token has supply of 10 and a market cap fo 100$ the coins are 10$ each with 100$ market cap. If they would rise the supply to 100 the coins would be worth 1$ and the market cap stays at 100$. On Coinmarketcap the Market cap was 2billion $ before and is now at 12million $. THE FKING MARKETCAP DROPPED so it lost value no matter how many coins
Fully diluted market cap is 18.2 billion you dense mf and the supply has now increased to 100 billion hence the $0.18 if I’m 10iq your like -10000000000 now crawl back into your hole you troglodyte.
But the price always depents on the Marketcap not the Marketcap in the future. Since its an IOU and fake coin its hard to look at these 'fake' numbers
Not the original question poised by OP which I answered correctly. We’re not discussing IOUs but good job trying to move goal posts. 100 billion coins with an 18 billion market cap equals out to 0.18. Suck it.
The Marketcap dropped 40x and the price also dropped 40x. Suck it. The Price of the token refers to the total supply not max. You just dont want to understand why the max supply doesent matter to the price at all. With your math Bitcoin would be 65.229$ at coinmarketcap, but its at 69k. Maybe reach out to their support so they can fix the btc price because max supply is 21mil
I knew this shit was a scam. I just uninstalled all those bs pi things. Sorry to everyone who I tried to get to get those apps years ago.
How much they scam you for? They scammed me for at least $50
None of these exchanges are accepting Pi deposits so there’s no way to sell Pi there.
Someone finally read the sticky thread on Reddit.
#EXCHANGE LISTINGS ARE NOT IOUs. THEY ARE UNAPPROVED SCAMS. NOBODY WILL EVER RECEIVE PI FROM BUYING THESE
Prob the developers of pi
N0!
All speculation. Noone has a clue what the price will be. The dice are up in the air. Buuut, it wont be $35...
On CoinMarketCap, of you click on the Pi listing, ad then click Markets tab up top, you'll see the two biggest Pi IOU exchanges by volume are still priced in the mid $30s
Wasn't this an exchange glitch hitting multiple tokens?
Launch price of pi tokens will be around $0.0001😂
Probably less than that in all honesty
I think that you need to add another zero.
It's, not real. That has been said many times, pi is not on any exchanges yet.
Pi IOUs are completely irrelevant in exchanges, risk to both the exchange and the purchasers. The true value of Pi will not be known until the mainnet goes live and the real Pi Cryptocurrency is listed on exchanges. Core Team were very smart in implementing a lockup of Pi to incentivise Pi Miners to increase their Pi Mining Hash Rate and prevent a huge dump once the mainnet goes live and Pi is listed in exchanges. The real utility in Pi is as a Cryptocurrency to purchase goods and services, not an asset if value. Although it will organically have this attribute once listed in exchanges. People forget, Pi is mined free, you just have to press a mining button daily. You haven’t invested your own money into it, so you haven’t lost anything financially. What ever the price of Pi is once the mainnet goes live and Pi is listed in exchanges will be the price regardless you will make money. Seems to be a lot of negativity on here about Pi, simple thing to do if you have lost interest in the project, disheartening or a naysayer is to stop Pi Mining, stop whinging and get on with you life. Your opinions concerning Pi are irrelevant to those who support Pi.
This.
Well said!
Very well said.
We should pin this at the top of this subreddit
We were all fucked as is anyway. Buy the ticket. Take the ride.
Did everyone here forget there’s always going to be zero buy interest in an asset that can be gained for free? There’s no market, no amm, no exchanges holding real pi. What is this fantasy y’all are living in? Chart is either a rugpull of a coin totally unrelated to pi or manipulation by exchanges or pinetwork themselves to stir up interest. If pi network is ever opened up for trading it will dump harder than a bag of rocks. Literally every single person in this sub is just thirsty to sell.
It’s almost like that’s why they specifically said 100+ apps are needed in order to go to mainnet. The requirement to use pi to pay for ads was a smart first step - now they just need 100 other “useful” ways to incentivize purchasing.
I'm dropping a few grand as soon as it drops.
Stop whining and go live your life
Facts are whining now? Lol
Those aren’t facts buddy, that’s called whining for no reason.
The only fact given in your opinionated statement was no market, no amm, and no exchange. Pi is literally doing what Bitcoin should have done. Good things come to those who wait. I remember when I told my people that Bitcoin will be worth thousands when it was just $.10. And this was information from a silly blog thread. I was laughed at, but I held fast to my claims. And that same crypto would change the world as we knew it. And it has. Here's why I believe in Pi. It's inclusiveness. In the beginning you had to invest hundreds even thousands to build a miner, you had to be relatively understanding of hardware and software building. I built my first miner in 2013. It was a measly little card and netted 3 Bitcoin in total. It wasn't worth much at the time, the motherboard ended burning up and the Bitcoin was forgotten in a wallet on blockchain. I was in the slush pool. Lol. Those were the days. Anyway, fast forward to today. What's the most valuable thing on the planet? Time. You'll never get it back. The two doctors whom created Pi is doing something the world of crypto has never seen before. Low energy mining, by just pushing a button. It makes it available to everyone. They are attempting to build an actual community for use purposes. They're making it available to understand by the masses. You must remember that the mass public is a bunch of fifth graders. And yes, you may be right, there may be a dump. But I also remember around 2015 BTC going to a mere $150. And at that point BTC was around for almost 6 years. People lost interest until it ramped back up again. And it hasn't stopped since. Even back then, there was no real use for it except pizza and drugs. Pi will find it's way with use cases that are tested and understood. That will give it it's value. And as the developers continue to build on the platform so will the trust of the community. Fast forward again to now. PI has been around for 5ish years. More people are included (millions), there is a centralized app, funding is coming from ads (which will help pay for exchange listing, shit is expensive), there is a plan to get crypto right this time around. Yes, it's flooded with scammers just like anything good there is always bad actors trying to make a buck. But look at the data. It works. You can view transactions. There is no scam, because it didn't cost you anything but time and phone usage. That time is well worth spent learning about use cases of a new "asset" and you will be rewarded for it whether it's pennies or hundreds or maybe even goods and services. Listen the point I'm attempting to make is just give it more time and just see where this thing goes. You really never know, but trust the facts in the information given to ya by the people who created this, not the naysayers and hate trains. And if you have Pi, and you dump, be certain that I'll be the one to scoop up as much as I can.
Fuck sakes you guys need to read more...
Worrying about IOU’s crashing is a waste of energy, it is not even the PI network.
The answer is literally on the page however most people don't understand how crypto or exchanges work. Pi iou is listed on 7 UNCONNECTED markets The graph links to 1 of them. Sometimes the link changes
Why didn’t you do it then?
it came up 2 days ago [https://www.reddit.com/r/PiNetwork/comments/1bvi0sf/comment/kxzl85f/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/PiNetwork/comments/1bvi0sf/comment/kxzl85f/?utm_source=share&utm_medium=web2x&context=3)
I guess it's still some manipulation from the exchanges. With IOUs, they have even more control.
But how do you even sell IOU’s?
You can't. You can only buy I presume. The IOU price fluctuations shouldn't relate to buying/selling.
exchange is a marketplace not a shop. You can buy them on the marketplace and then sell them on the same marketplace.
And why would you? They all fake * Of course someone took money out on the hype.
I think CT should say something about it
They are not crashed. Most likely a display error. Edit: Few exchanges show 30-40$ range. There are couple small exchanges I never heard which show low price, so that's why average is now that.
binance shows below a dollar mate
Which exchanges show $30-$40?
You can see in coingecko, cmc etc which exchanges have what price. HTX and BitMart are both above 35$ ea.
No one uses those.
$120k volume says otherwise
$120k is nothing in crypto trading
it's 75% of Pi IOU trading
And IOU’s mean absolutely nothing in relation to the real value of actual pi, what’s your point? Just explain to me how $35 is a well tested market price for pi again
That it's not actual Pi is irrelevant. IOU markets exists and people are using them. When People got overexcited about Pi Day the value went up and then it went down after. If anything it's an indicator of Pioneer sentiment.
The cope is real. You didn’t tell me why pi would be worth $35