It seems that the Pi coins in everyone's hands can be sold immediately, but the problems mentioned above are very serious. So far, no one knows how to sell, to whom, and how much money can be sold.
To know the answer, we must know the answers to the following questions.
First, the test network needs KYC to transfer the coin to the main network. I believe everyone knows that KYC means real-name authentication. As the cryptocurrency with the highest market value today, Bitcoin has never required users to perform real-name authentication. Then Pi coins claim to make up for the excessive concentration of power and money in Bitcoin. The banner is very loud. To achieve this goal, we must follow the first principle of blockchain + - decentralization +. So in this process, where did the user KYC authentication data go?
Second, it has been three years since the launch of Pi coins. In these three years, various exchanges claiming to be able to trade Pi coins have emerged one after another, but they are all restricted by the fact that domestic users cannot transfer internally (internal transfers in the test network), but foreign users can. From this point, it can be basically judged that Pi is a completely centralized APP.
Third, the number of Pi users has exceeded 20 million, and more than half of them are zero-coin users. Even if Pi says that it will launch the mainnet within three months, there is still a long way to go from the mainnet to the exchange. How to ensure that the price of the currency will not fall below the issue price or even return to zero after listing on the exchange, and how to avoid scientists, these problems have not been solved.
Fourth, the issuance pricing. It is estimated that the total issuance of Pi coins will definitely exceed one billion. If you want to challenge Bitcoin, which is characterized by scarcity, then from what direction should you start to build Pi's value system.
