Pi Network: The Civil War

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The discussion regarding the GCV of $314,159 was hot in the social media groups of the pioneers. It became a big issue because most of the pioneers wanted that to be followed but there are also those who are opposed to that type of value and there are those who are just neutral. what worries many is how pi coins can be circulated now that there are few or close to nothing sellers who will follow what they call GCV.

We all want the value of Pi to increase, no one doesn’t because the promise of Dr. kokkalis is that the Pi is for everyday people which means anyone can acquire it just through a cellphone. Many have already mined and migrated and everyone is hoping to get value. Now that we are in the enclosed mainnet we can use the migrated pi coins. How? That is through the exchange of goods and services.

THE BUSINESS, THE VALUE.

The exchange of goods or the purchase of things using the Pi coin, in short, the barter system. A customer can get an item if he exchanges it for a pi coin equal to the value of that item. But how can the value of the pi coin equal to the item purchased be determined when it has no value yet? that’s where consensus value comes in.

What is the consensus value? The consensus value is the value agreed upon by a group, big or small, to be used in any type of trade. There are 195 countries around the world, if for example 150 of them use the same value, it means that it has become the General Consensus Value because one value is used by the majority. “General” does not mean that everyone should follow or be forced to follow, but “general” means “most”.

In the pi network world, the value raised by each pioneer is different. There are $100, $314 and the loudest is $314,159 or $314K. Since we are still in the enclosed mainnet, according to the Pi Core Team in non-verbatim: there is no consensus value to follow. As long as Pi can be used, it can be used for circulation only through exchanges of goods and services.

When it comes to exchanges of goods, two people are involved. the buyer/customer and the seller/vendor.

In the actual scenario, when a seller does not follow a so-called GCV, it will be in his favor because he can dictate the value of his goods where he thinks that is the equivalent value in Pi coin. This is fair for him as a businessman because in reality, Pi has no value yet and it’s a risk on his side because the seller does not know yet how much money he will lose if ever Pi will have a low value. Furthermore, the replenishment of such items is not easy because the seller spends real money (fiat) in order for him to have a capital or replenishment for his goods without getting something in return. It may seem unfair for the buyer because he will have to spend a lot of Pi just to acquire such item. However, if one cannot afford then do not buy yet.

When a seller follows the so-called GCV ($314K), the goods will be limited because the equivalent of the seller’s item is very low and the replenishment of such items is not easy because the seller spends real money (fiat) in order for him to have a capital or replenishment for his goods without getting something in return yet. Restocking of goods will take a very long time. However, it will be favorable to the buyer because he can only spend a little amount of Pi to acquire such item. But the sad reality is, it does not help a lot in terms of circulating Pi coins because there will be lesser (close to nothing) number of sellers than the buyers. It is and will be 99% are buyers.

This is the reality of business; no business man will give his goods in exchange for nothing.

THE CIVIL WAR

Many pioneers are pushing and forcing other pioneers to follow the so-called GCV to the point that they bash or destroys the reputation or insult the people those who do not want to follow. Why? Because they thought that the $314K “GCV” will be the value of Pi in the open Mainnet and that they thought it could be exchanged into fiat and that they could be an instant millionaire. Most of the supporters of the “GCV” do not know how cryptocurrency works and gain its value.

Cryptocurrency gains value if the demand for it is higher than the supply. When a cryptocurrency is useful, people want to own more of it, driving up the demand. Since people want to use it, they don’t want to sell it. This means there is more demand than supply and the value increases.

Remember that Pi has a higher supply than its demand that’s why the PCT encourages the pioneers to use it in exchange of goods and services or create more utilities or create more cryptocurrencies, just as what Dr. Kokkalis said in his video, the more cryptocurrencies, the better.

The question is, how will the coin be more useful if there are less, close to no sellers or services? Meaning, the demand is very low because of less utilities where the pi coin will be used and the sad reality is most of the pioneers are limited to ecommerce only, buying goods. Where in fact there are still many ways.

The worst part is the cancellation or the bashing of pioneers in the social media who do not and will not follow the so-called “GCV”. It becomes a factor why the number of sellers declined in a short period of time. Many pioneers in most of the groups are asking “why is it that there is no seller in this group?” or “Hey I’m looking for this and that, is there anyone selling it?”. The bashing makes it a factor because the seller will receive lots and lots of hate and negativities that are below – the – belt, co-pioneers are dragging down co-pioneers, in which it is not healthy in an ecosystem. Remember that Pi wants to create an ecosystem which pi coin can be utilized and it will not be possible if we keep dragging each other down, especially when someone forces someone to follow such “GCV”.

Another factor of this civil war is the fake news and close – minded people. Most of the pioneers do not believe the circulating screenshots from the moderators and PCT. Why? Because most pioneers did not join the chatroom inside their Pi Browsers where Mods, MegaMods and members of the CT can be communicated, they will just believe the posts that satisfies them, not the reality.

THE NEXT STEP

With this happening between pioneers, it will create a factor for the decline of Pi Network, not to mention the issue regarding the KYC. What will the PCT do to end this? When will the Open Mainnet occur? What are the measures the PCT will provide? How are they going to unite the pioneers?