Who would buy Pi from the US for $314,159 when it goes on sale?
Some pioneers wonder why anyone would pay $314,159 to a pioneer when they can mine Pi themselves.
They claim that this is why Pi is not worth $314,159.
Pi is supposed to be used as a payment currency,
not to replace fiat currency.
If Pi is successfully adopted at the price some pioneers are asking for, such as $31.4
or $314,
based on Pi’s current core mining speed of 6.48,
and assuming more pioneers and active miners join,
the mining speed will slow down.
Let’s assume it takes a month to mine one Pi,
that’s 12 Pi in a year.
If the price is $31.4,
You will only earn $376.80 per year,
Or maybe even less than that to $37.68,
which is equivalent to one hour of work.
Do you think Pi can still attract more miners to become a distributed currency character?
It is important to understand that companies and institutions will buy Pi from us when we reach the OM stage because they need our blockchain.
To become a user on our blockchain,
You must pledge at least 10,000 or 100,000 Pi
if the price is $31.4 or only $314.
However,
Based on the current mining rate of 12 Pi per year,
Companies would need to mine for 83 to 833 years to earn 10,000 to 100,000 Pi. This is not practical,
so they are more likely to buy Pi from us.
If Pi reaches a stable GCV price of $314,159 in OM,
companies will not find it expensive to buy Pi because one Pi will have a purchasing power of $314,159.
At this point, they are just moving money from their left pocket to their right pocket.
When Pi is at $314,159, companies only need to pledge 10 Pi or 100 Pi, not 10,000 or 100,000 Pi.
But up to 10 Pi, companies will buy,
not me, for a year. Because timing is very important for business.
Now let's look at the international trade numbers.
I quote my speech at last year's Twitter conference in June as follows:
According to data from the Bank for International Settlements from the Bank for International Settlements two days ago,
The average daily transaction volume of the international foreign exchange market was $6-11 trillion. yS)
If the price of one B is $1,000, it will take 6-11 billion B. yS)
If the price of one B is $10,000, it will take 0.6-1.1 billion B. yS)If the price is $100,000, it will take 60-110 million B. yS)
If the price is $314,159, it will take 19,098,609 to 35,014,117 B.
Currently, we only have 850 million B available for use.
Therefore, the initial swap price of B should be increased to at least $314,159 per B.
This is the most reasonable price for international settlement.
Now let's take a look at the figures from China's trade:
According to customs statistics in 2023, the total value of China's import and export trade in goods in the first quarter of 2023 was 9.89 trillion yuan,
an increase of 4.8% year-on-year. Among them,
Exports were 5.65 trillion yuan,
an increase of 8.4% year-on-year;
Imports were 4.24 trillion yuan,
an increase of 0.2% year-on-year.
So the total US dollar is 1.3846 trillion US dollars. S)y
If Pi is $100, we need 13.846 billion Pi.
So we have migrated 2.45 billion Pi keys and 1.6 billion,
and only 0.85 billion are available.
Even if the next migration is carried out in large numbers,
this number will not be reached within 3 years,
and this is only the first quarter of China's data. S)y
P must have the function of an international settlement currency,
which obviously cannot be achieved with $100.
So, can GCV meet that?
We can see that 44,073 Pi are needed.
If calculated based on China's annual needs,
it is estimated that about 200,000 Pi are needed.
233 countries need 40 million Pi for trade alone.
If calculated according to several small countries divided by 4 times,
10 million Pi are still needed. y)SIThis
does not include individual peer-to-peer transactions.
Because Pi wants to be a stable currency,
the starting point must be high to lay a solid foundation for stability over hundreds of years.
Global trade and financial transactions involve huge amounts of m
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