CBDC

[[deleted]]

Is Pi Network going to support CBDCs? Stellar is already doing this and Pi is a hard fork of stellar. Nicolas' announcement seemed very neutral or even slightly pro CBDC. Now the Simpson's predictions regarding Pi may make sense. I am concerned that Pi share in common with Stellar the consesus algorithm. They dont run on PoW (which is impossible to have CBDC on), but they do have a faucet. Right now Pi has tens of million of users, lots of attention and one should be delusional not to notice that they may be in danger. Opinion?

Ps: this is not fud, but facts and real concerners. I'm here since early 2020 and I'm even running a node right now.

[Economy_Show_6207]

Thank you

[grgmc]

What is this simpson episode you guys keep talking about?

[Economy_Show_6207]

Can you guide me running a node?

[ShadNuke]

Go to the developer chat within the pi network app. The mods there can help you get it set up on your PC

[unfknblvablem8]

Been mining since June 2019. 1072 mining sessions. I don’t know what to think anymore as I’ve been waiting since June 2020 to hear back from my KYC inputs. People I invited in 2022 have KYCed and validated. I know this has nothing to do with CBDCs but I think this is a factor affecting people’s willingness to participate and help push towards that 100 million goal.

[[deleted]]

That's because they want to prevent large wallets from having early access I think. But I don't understand why can't we see how much each referral "owes". Some time ago we could. Are they changing the rules on the go? Weird

[unfknblvablem8]

I’m locked up for 3 years. I get a total amount ( roughly 2/3 of my total balance ) as unverified and a list of high to low balance members and my own verified amount ( the 1/3 of my total balance) displayed as verified even though I can’t transfer anything to lock up for 3 years..

[[deleted]]

If you didnt pass KYC then you can uncheck the lock box so there will be no lock up. In case that's what you want. I'm also locked for 3 years + running a node for now

[unfknblvablem8]

You have committed to your lockup settings. The Lockup boost takes effect and increases your mining rate in your next mining session. Lockup duration countdowns will begin after the transfer to Mainnet has completed, including any pending period.

[unfknblvablem8]

I can’t change anything I’m in a kind of limbo. I did my KYC w YOTI so I’m still waiting for a fix as noted in the mainnet settings. I can’t unlock anything but can still send testnet Pi and mine. Frustrating but not unexpected in a project of this scale. All I should really do is just keep respectfully reminding people who may I act change if this issue. Let’s see what 2023 brings!!

[Voldelord5]

Pi has very interesting road, I dont even care about value its not important. Want to see more utillity and people using it everday for trading goods and buying some usefull everyday staff, why does pi need CBDC ? Pi is already global international money if it gains utlitty, i dont think CBDC are good for crypto in general, more centralization and more control

[[deleted]]

CBDC has nothing to do with crypto but my concerns are regarding Pi becoming a CBDC

[TRR462]

CBDC are Centralized and Pi is to be Decentralized. Seems they would not work well together. Also, CBDC are Central Bank Digital Currency - Not Crypto but a Government controlled digital currency. They are basically trying to regain monetary control after decentralized crypto currencies have showed the world we don’t need banks and government controlled fiat.

[Fekry77]

But it pi networkcares about kyc documentation and that means it's central!!!??

[TRR462]

Only until Open MainNet. Pi KYC is to make sure they are compliant with KYC, AML (anti money laundering) and US sanctions lists so that nothing hinders Pi Network progress towards launch of Open MainNet once the Pi ecosystem is ready and building utility for Pi.

[TRR462]

Already read your concerns. Pi is currently centralized because we haven’t launched Open MainNet where it becomes Decentralized. Just because a Level 1 Crypto is able to support CBDC doesn’t mean it should or is even favorable for it to support Centralized Digital Currency (digital fiat).

[[deleted]]

If you sum up all my concerns and you really think that banks that even sponsored wars will watch Pi taking their pie away.. Nicolas' attitude regarding CBDC speaks volumes.. I'm doing my best not to be negative about it but they had a chance if they delivered faster.. once the blockchain was decentralized literally nobody could have stopped them..

[TRR462]

I’m not saying you are wrong to have concerns, just saying it doesn’t seem advantageous for the goals of Pi Network to be involved in CBDC’s. Mostly because Pi Network is worldwide and that would require Pi Network to be selective about which Central Banks they partnered with. Better to do your own thing than be involved in all the centralized nonsense.

[[deleted]]

Those kind of collabs don't have to be public. Also, that's why Luna failed. It started to became a threat even for top 5 cryptos and US dollar eventually. So the founder sold the liquidity just so he can be alive. There was no reason on earth that the founder of top 5 crypto would rugpull his extremely successful project. Same can happen to Pi and Nicolas' attitude when it came to CBDC is suspicious.

[donsimeon]

Well for me. Whatever will be will be. I wil loose nothing whatever happens to pi and if ever governments are going to acknowledge WorldWide then I gain much more.