Pi Network KYC Grace Period for Minors in Limbo, Sparking Community Speculation

A recent tweet from the Pi Network-following X handle, r/PiNetwork, has sparked speculation about the status of the KYC grace period, particularly concerning minors.

Recent updates from the Pi Network (X handle: r/PiNetwork) have ignited speculation regarding the status of the KYC grace period, particularly as it pertains to minors, following a tweet from the platform.

The Pi Network developers are reportedly assessing the grace period’s impact on minors from both a legal and network perspective, according to the platform.

Until a final decision is made, the situation remains in limbo, with some speculating that the grace period may be paused for everyone.

The Pi Network community is eagerly awaiting further updates on the oft-delayed mainnet launch, and this ambiguity could further stoke discontent.

Moreover, the source of the statement is unclear, as the post does not mention where the Pi Network developers shared their statement.

In parallel, Pi Network enthusiasts are already using Pi coins to purchase real-world items, despite the team not yet launching the token.

These transactions involve high-value items such as cars, with claims that the Pi Network token is worth $314,159 per coin in some cases.

The valuation is purely speculative and not supported by any formal market trading, as the Pi Core Team has denounced IOU (I Owe You) prices that appear on some exchanges.

For instance, videos and tweets show users buying goods and services, including electronics and vehicles, using Pi coins.

These transactions usually assume an arbitrary and inflated value for the PI coin with no basis in reality. While enthusiasm and belief among followers are crucial for any crypto project, when the same enthusiasm enters the delusion and psychotic mania region, it raises concerns about the financial prudence of these actions.

The adoption of such high, arbitrary prices poses significant risks. Users might be engaging in transactions based on inflated expectations of Pi’s future value, which could lead to repercussions if the coin fails to achieve the anticipated market acceptance or value when and if it launches.

The Pi Core Team cautions against speculative prices, urging real-world transactions to reflect true market value when Pi becomes tradeable.

Pi Is a Mathematical Constant, and So Is the Price of Its Network Token

The price of Pi is a mathematical constant, and the Pi Network token’s price is on the path to becoming one itself.

The PI to USD conversion rate remains range-bound and near constant. Moreover, despite so many traders assuming weirdly wild prices for the Pi Network token, the token’s price action has remained steadfastly boring.

Even trading pairs with other currencies, like the PI INR pair, have remained flat.

If the Pi Network token price decides to break out from its horizontal movement and rally, the PI USD pair will face resistance near $40.3 and $43.6.

Conversely, a downtrend could result in the PI coin price testing support near $36.5 and $34 before recovering.

The RSI for PI coin remained neutral, with a score of 47.24 on the daily charts.