Pi Network suffer setback as arguments trail Global Consensus Value (GCV = $314,159/π)

The social media space is flooded with arguments concerning the global consensus value for Pi. The global community of pioneers all support the move that a single Pi be valuated to the fiat equivalent of  $314,159 however, other people especially economic experts who are conversant with pricing have different ideologies.

Let’s take a closer look at what’s happening lately. Pi Network has only one phase left to implement, then everything will get going and pioneers will always be smiling if things go the way everyone is expecting. [irp]

Arguments with Dr. Jing

Christopher Jing started a question and answer (Q&A) session about the Global Consensus Value (GCV). One of the notable questions he attempted to answer was asked by @lemanhyb:

“Do you think the pi is required to go to an exchange to be valued? Or how will it be circulated to have uniform value? Is it possible to call the Pi network a success now?”

Answered by @christopherjing:

“Going to exchanges is a must and only to turn Pi into cash value.

There’s no uniform value in trading market and Pi’s value or price is purely decided by the law of demand and supply. Pi is very successful on supply but not tested yet on demand. It’s still Pi without cash value.”

Christopher in a separate tweet said he has triggered a heated debate across the world regarding Pi Network’s future.

I am glad I have triggered a heated debate across the world regarding Pi’s future, a crypto currency privately held, with 36 million miners wishing to getting super rich one day with zero investment.

Is that realistic or just a dream?

$314156 per Pi is the pull for trigger. pic.twitter.com/kWJwzp3K1A

— 金博士频道 GOLDENCHANNEL π (@christopherjing) September 25, 2022

On YouTube with Sheriff Network

On YouTube, the Sheriff Network, a YouTube channel also gave their opinion in a video. Some of the opinions suggested the value of Pi in seven countries:

1. Philippines = $400/1π
2. Malaysia = $221/1π
3. Vietnam = $70/1π
4. Korea = $450/1π
5. Canada = $760/1π
6. Nigeria = $1,100/1π

What we have above are only opinions and not facts. Watch the video below 👇🏿

In case you are not aware

• The Global Consensus Value (GCV) of $314,159 is a call by the global community of pioneers to have PiCoin traded on that agreed figure. We do not know if the Core Team will support this figure after the launch of the Mainnet.[irp]

• Sheriff Network is a YouTube channel that gives update on the state of the Pi Network and other crypto assets, giving detailed insights on what is of paramount concern.

• Pi Network is positioned as an attempt to simplify the accessibility of cryptocurrency and introduce more people to cryptocurrency through a simple crypto mining and management system. It was officially launched on 14 March 2019 by Nicolas Kokkalis and Chengdiao Fan.

• The most appealing feature of Pi cryptocurrency at launch is its mobile mining feature. Using the Pi mobile application, users can mine Pi coins on their mobile devices. Participation in the mining program was solely by invitation.