The Pi Network promises to reward users for their contributions, boasting an impressive user base of over 100 million!

However, there’s a catch: this massive community has been waiting over four years for the Pi network to launch, with no clear end in sight.

As a result, a significant number of miners have stopped participating, and many users have sold, lost, or are attempting to sell their Pi.

If you’re still holding onto your Pi, this post will give you reasons why you might want to reconsider selling and what you need to know.

Watch this video or continue reading below!

Pi Network: What You Need to Know!

Launched in 2019, the Pi Network introduced a new way to mine cryptocurrency using mobile phones.

The concept of free crypto mining, which could later be exchanged for real tokens, quickly gained traction and attracted millions of users.

However, people are beginning to lose patience as they wait for the project to launch and reward them for their efforts.

Five years into its development, the Pi Network has yet to transition from its testnet phase to a fully operational mainnet.

Other similar crypto projects, like Renec, have launched much faster, leading to comparisons and increasing impatience within the Pi community.

This delay in transitioning to the open mainnet has become a major point of frustration for users.

Many early adopters, frustrated by the delays, have abandoned the project entirely.

Among those who remain, only a portion has migrated to testnets.

Some encountered challenges, resulting in the loss of their Pi holdings, while others have given up and sold their assets.

Despite these challenges, the Pi Network could potentially launch this year.

If you still hold Pi and are considering selling, it might be worth waiting.

Let’s continue this discussion in the next section. Continue reading!

Hold Up! Here’s Why You Shouldn’t Sell Your Pi Yet

Despite the delays, the Pi Core team remains committed to launching the mainnet.

To this they have outlined three key conditions that must be met before the launch:

• Completion of open network preparation

In June 2024, the Pi network announced that it is preparing for its open network which is a significant step towards the mainnet launch.

This implies that Pi is preparing to transition from  its testing phase to a live, public network.

The team has stated publicly that they are making progress according to their planned timeline for this.

• Meeting KYC and utility creation goals

Progress has been made, with 12 million out of 15 million KYC Pioneers verified and 5.79 million out of 10 million migrations completed.

Additionally, 70 out of 100 unique apps have been developed.

• Absence of unfavorable external condition

The Pi network team has indicated that they will launch the mainnet when market conditions are favorable.

This strategic approach aims to optimize the token’s value and minimize risks associated with a volatile market.

With a bullish crypto market anticipated by late 2024, possibly, October or November, the conditions may be ripe for launch.

However, the final decision rests solely with the Pi Network team.

Final Thoughts!

If you have Pi and are considering selling before the open mainnet launch, it might be riskier to sell now than to wait.

There is a risk of being scammed, for example, one user attempted to sell 1,000 Pi for $0.80 each but was scammed out of their entire holding.

Moreover, the current market price for Pi is alarmingly low, with some selling for as little as $0.25 per coin in Nigeria, worth around 350 NGN.

Whereas, the potential value post-mainnet launch could be 10x, 100x, or even higher than the current price, presenting a better profit opportunity.

Think about this: why would whales buy your years of hard work mining Pi for such low prices?

Again, although the Pi Network has taken a long time to launch, it currently has over 60 million miners.

Also, compared to other mining projects, the Pi ecosystem offers more features and has a more solid product and utility.

Tell us in the comments: What are your thoughts on the Pi network’s progress towards the mainnet launch?

Are you thinking about selling your Pi or have you reconsidered your decision because of this post?

Lastly, share this post with more Pi miners by clicking the ‘SM’ buttons below.