I noticed some pioneers questioning why GCV has a price of $314,159 and suggesting alternative prices such as $1, $10, $100, $1,000, or even $6,700. However, in my previous speeches, I discussed the reasoning behind the price. While there are differing opinions on the matter, with some suggesting lower or higher amounts, the question remains: should we allow different prices or unite the prices to protect merchants?
Allowing different prices can lead to speculation, causing chaos and preventing the ecosystem from maturing and opening the mainnet. I previously explained why a united price is necessary for the ecosystem. The risk is not from GCV's current price but from the potential loss of merchants due to different prices, making it impossible to exchange FIAT. As FIAT is crucial for the ecosystem, we need to determine the most effective and mature strategy.
We have two options: either leave the prices as they are, which will make the mainnet impossible, or unite the price to GCV, creating a fair and competitive environment for the entire ecosystem.
Now, let's discuss the theory behind GCV's price of $314,159. China has utilized GCV $314,159 bartering, valued at 100 million USD, with additional international barters not yet to be accounted for. It is important to note that while these exchanges have not been recorded on a blockchain, it is due to the fact that most pioneers in China have not completed KYC procedures. These barters are limited to local transactions and are contingent upon the transfer of Pi once it is available in the respective wallets, with GCV prices being used as the barter rate. We have previously shared several videos, photos, and paperwork related to these barters. This is why I strongly support GCV. All merchants have contributed their inventory to GCV, and they deserve respect and protection.
Overall, a united price is necessary for the ecosystem's success, and we must consider the potential risks and benefits carefully.
I will quote my 5/17/2023 speech named " Global
GCV Community Pioneers Continue the Efforts to Advance Open Mainnet"
"Can you provide me with the current worldwide wealth value? According to the "Global Wealth Report" by Credit Suisse, the total global wealth in 2021 amounted to $463.6 trillion. This represents an increase of 9.8% compared to 2020. However, due to inflation and other factors, global wealth growth is expected to slow down in 2022. It is projected that global wealth will reach $500 trillion in 2023. As for Pi, the estimated base Pi is 10%, and roughly 6.5 billion base Pi will be migrated. Most of them are locked for 90%, and 650 million will be available immediately for use. The remaining coins will be available when the mainnet opens, which will increase the total to 1.3 billion. If we estimate the global wealth to be $500 trillion and assume that each Pi is worth between 300K to 400K USD, we can have a general idea of how much it could be worth. However, please note that this is just an estimate and only takes into account the open mainnet barter starting price.
According to the 2022 RMB Internationalization Report, banks handled a total of US$5.124 trillion in RMB cross-border receipts and payments on behalf of customers in 2021. If we assume a price of $6700, it would require 760 million Pi. If the price is GCV, it would need 16 million Pi, which is still a feasible and reasonable price.
There have been suggestions of $628,000 and 1 million dollars as Pi prices, but without merchant support and transaction records, it may not be viable in the short term. However, with the increasing demand for ecological and international settlements, it could be achievable in the long run.
On the other hand, some propose 1 billion or 2 billion dollars as the Pi price, which is entirely unrealistic and lacks any theoretical or data support. In fact, the core team uses 7 decimal places as the unit of calculation, where 0.0000001*314159 = 0.03 USD. Therefore, GCV can correspond to US dollars to one cent. This is my theoretical feasibility analysis of GCV using numbers."
I would like to extend my sincerest gratitude to all the merchants and pioneers who have supported GCV worldwide. A special acknowledgment goes to the prominent commodity merchants who have shown their unwavering support for GCV and plan to mitigate risks when prices are consolidated or when the mainnet becomes operational. I also want to express my heartfelt appreciation to Indonesia PiShowroom for their unwavering dedication to GCV. As a token of my gratitude, I have attached a photo. Finally, I would like to thank the small-scale barter merchants and service providers worldwide for their unwavering respect for GCV. 🌹🌹🌹
Disclaimer: The analysis above expresses my personal opinion and is solely for reference purposes. I am not affiliated with CT or any other organization
I noticed some pioneers questioning why GCV has a price of $314,159 and suggesting alternative prices such as $1, $10, $100, $1,000, or even $6,700. However, in my previous speeches, I discussed the reasoning behind the price. While there are differing opinions on the matter, with some suggesting lower or higher amounts, the question remains: should we allow different prices or unite the prices to protect merchants?
Allowing different prices can lead to speculation, causing chaos and preventing the ecosystem from maturing and opening the mainnet. I previously explained why a united price is necessary for the ecosystem. The risk is not from GCV's current price but from the potential loss of merchants due to different prices, making it impossible to exchange FIAT. As FIAT is crucial for the ecosystem, we need to determine the most effective and mature strategy.
We have two options: either leave the prices as they are, which will make the mainnet impossible, or unite the price to GCV, creating a fair and competitive environment for the entire ecosystem.
Now, let's discuss the theory behind GCV's price of $314,159. China has utilized GCV $314,159 bartering, valued at 100 million USD, with additional international barters not yet to be accounted for. It is important to note that while these exchanges have not been recorded on a blockchain, it is due to the fact that most pioneers in China have not completed KYC procedures. These barters are limited to local transactions and are contingent upon the transfer of Pi once it is available in the respective wallets, with GCV prices being used as the barter rate. We have previously shared several videos, photos, and paperwork related to these barters. This is why I strongly support GCV. All merchants have contributed their inventory to GCV, and they deserve respect and protection.
Overall, a united price is necessary for the ecosystem's success, and we must consider the potential risks and benefits carefully.
I will quote my 5/17/2023 speech named " Global
GCV Community Pioneers Continue the Efforts to Advance Open Mainnet"
"Can you provide me with the current worldwide wealth value? According to the "Global Wealth Report" by Credit Suisse, the total global wealth in 2021 amounted to $463.6 trillion. This represents an increase of 9.8% compared to 2020. However, due to inflation and other factors, global wealth growth is expected to slow down in 2022. It is projected that global wealth will reach $500 trillion in 2023. As for Pi, the estimated base Pi is 10%, and roughly 6.5 billion base Pi will be migrated. Most of them are locked for 90%, and 650 million will be available immediately for use. The remaining coins will be available when the mainnet opens, which will increase the total to 1.3 billion. If we estimate the global wealth to be $500 trillion and assume that each Pi is worth between 300K to 400K USD, we can have a general idea of how much it could be worth. However, please note that this is just an estimate and only takes into account the open mainnet barter starting price.
According to the 2022 RMB Internationalization Report, banks handled a total of US$5.124 trillion in RMB cross-border receipts and payments on behalf of customers in 2021. If we assume a price of $6700, it would require 760 million Pi. If the price is GCV, it would need 16 million Pi, which is still a feasible and reasonable price.
There have been suggestions of $628,000 and 1 million dollars as Pi prices, but without merchant support and transaction records, it may not be viable in the short term. However, with the increasing demand for ecological and international settlements, it could be achievable in the long run.
On the other hand, some propose 1 billion or 2 billion dollars as the Pi price, which is entirely unrealistic and lacks any theoretical or data support. In fact, the core team uses 7 decimal places as the unit of calculation, where 0.0000001*314159 = 0.03 USD. Therefore, GCV can correspond to US dollars to one cent. This is my theoretical feasibility analysis of GCV using numbers."
I would like to extend my sincerest gratitude to all the merchants and pioneers who have supported GCV worldwide. A special acknowledgment goes to the prominent commodity merchants who have shown their unwavering support for GCV and plan to mitigate risks when prices are consolidated or when the mainnet becomes operational. I also want to express my heartfelt appreciation to Indonesia PiShowroom for their unwavering dedication to GCV. As a token of my gratitude, I have attached a photo. Finally, I would like to thank the small-scale barter merchants and service providers worldwide for their unwavering respect for GCV. 🌹🌹🌹
Disclaimer: The analysis above expresses my personal opinion and is solely for reference purposes. I am not affiliated with CT or any other organization
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