Vietnamese persons are anticipating a good sum of money from the cryptocurrency Pi, following the developer’s promise to launch the mainnet on June twenty eighth.
The system is making regular progress in direction of the transition to launch by Pi2 Day – round June 28, introduced by the event workforce on the Pi Network app final Tuesday.
From Monday night time, Vietnamese Pi miners started to attend for the transition. Many claimed to be enterprise house owners and mentioned they might settle for tokens as a cost methodology as quickly because the cash had been exchanged.
Dao Minh Tu, Deputy Governor of the State Bank of Vietnam, states that Pi and different cryptocurrencies will not be authorized tender in Vietnam.
HCMC’s Huynh Tan mentioned he signed in to the app to earn every day rewards for the previous three years.
“I’ve been in the project since the beta stage. Now that I’m in the mainnet stage, I want to be able to exchange Pi for money or something.”
He mentioned that with 100 billion tokens, a worth of hundreds of {dollars} is “very unlikely”, however there might be any variety of “consensus prices”.
A Pi Group ballot discovered that 75% of the roughly 3,400 customers believed in a “consensus price” of $ 6,700.
“If each Pi token is worth thousands of dollars, what would you buy first?” Asked the 100,000-member Pi group, gathering over 300 feedback.
Many mentioned they might purchase a home or automobile or give out cash after promoting the tokens.
However, the investor should wait till the developer permits the token switch.
Last 12 months, Pi introduced that it had entered the mainnet, which is break up into two phases. Closed community and open community. The former permits transactions between customers and the latter permits exchanges with different cryptocurrencies.
Doubt
On the opposite hand, many are skeptical of the developer’s pledge.
“The statement is uncertain, only the launch of the mainnet was generally announced around Pi 2 days. They did the same last year, but there was no development yet,” Pi mentioned. Miner Anh Minh mentioned.
Pi Network additionally didn’t announce a social media account on June twenty eighth. Most crypto initiatives are uncommon as a result of they consistently present new data to customers through the main phases.
Over the final six months, the mission has had a low mining charge, customers need to lock a few of their tokens, and have began the KYC (Know Your Customer) course of.
Some customers had been allowed to change tokens internally, however solely as a demo.
In the newest state, tokens can’t be exchanged for different cryptocurrencies and are virtually at all times nugatory.
