Pi Network Coin: Does It Hold Any Real Value or Is It Worthless?
Pi Network’s Pi Coin has often been touted as the next big thing in cryptocurrency, with hopes of becoming the next Bitcoin. However, the project has faced setbacks, including multiple delays in launching its mainnet and accusations of being a scam.
The question of Pi Coin’s intrinsic value remains up for debate, especially considering the continuous delays and lack of transparency surrounding the mainnet launch. While the mobile-based mining method of Pi Coin makes it more accessible to a wider audience, many are skeptical of its true value and whether it is worth anything at all.
Let’s take a closer look at the value of Pi Coin and the costs associated with mining it. Mining Pi Coin requires minimal costs due to its mobile-based system, making it affordable for many. The depreciation cost of a typical smartphone, which lasts for three years and costs $500, is around $0.46 per day. The electricity consumption, assuming 1% of a smartphone’s daily usage, adds about $0.000014. Additionally, the daily data usage of 5MB costs approximately $0.049. Taking all these factors into account, the total daily cost of mining Pi Coin is roughly $0.509, amounting to $15.27 per month. Considering an average yield of 2.4 Pi Coins daily, the cost to mine one Pi Coin is approximately $0.21.
However, the question of Pi Coin’s intrinsic value goes beyond these low mining costs. The Pi Network boasts a large and active user base, which could potentially drive demand and increase the coin’s utility and adoption once the mainnet launches. Additionally, the project has a dedicated shilling team that convinces newcomers that there is no better crypto project than Pi Network. They claim that the mainnet launch has already happened, but it was missed by everyone, and soon Pi Coin will be worth more than $314,159. However, these claims should be taken with caution, as they may be based on hype and false information.
It’s important to note that without the Pi Network mainnet launch, miners essentially hold a token that has no real value. The Pi coins traded on exchanges like HTX represent IOUs, meaning that participating exchanges will trade future PI coins at the current IOU value. Despite claims of users accepting PI coins as a currency, their real-world usage remains limited.
Furthermore, the lack of exchange listings for Pi Coin means that it is not yet tradable on major platforms, making its market value purely speculative. The delays in launching the open mainnet network and the current lack of proven utility add to doubts about its true worth. The absence of Pi Network founder Dr. Nikolas Kokkalis is also a cause for concern, as his disappearance could indicate a potential scam.
Until the Pi Network launches its open mainnet and lists the coin on major exchanges, investors can only speculate on its intrinsic value. While the low cost of mining makes it accessible, the lack of concrete use cases and market acceptance raises questions about its true value.