BREAKING NEWS: Tencent China Conference 2023: Supporting GCV and Driving Successful Mainnet Development - hokanews
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hokanews.com - On November 6, 2023, the Tencent China Conference will be held at 20:00 China Time. This conference has received enormous support from the community. The main focus of this conference is supporting GCV (Global Cryptocurrency Vision) and advancing the mainnet that has been successfully launched.
The day before, a Fireside Forum was held which raised many questions from pioneers regarding the value of Pi. They doubt whether Core Team is for low prices and against GCV. As the author of this article, hokanews will provide an analysis based on the information we got from @dorisyincpa, but it should be noted that hokanews does not represent the Core Team in this article.
First of all, Dr. Nicolas, a representative from the Core Team, stated that the price of Pi Coin is set by the pioneers and the Core Team will not interfere with the price or provide price guidance. This is due to the fact that current blockchain data shows a low Pi price. Many transactions involve large amounts of Pi traded under FIAT currency exchange rates. Therefore, Core Team is likely to only use data that is currently available.
Second, we see that the pioneers have created a lot of low consensus price records. When the price of Pi is low, there are two goals to be achieved. First, opening up the mainnet at the lowest possible price, maybe even $1, and introducing it to the exchange market. Another goal is to create different prices within the Pi ecosystem. There are two possibilities that can occur. First, the market can adjust itself over time. Pioneers will use different prices within the Pi ecosystem. We don't know when prices will converge, but it is likely that this process will take a long time, or perhaps some pioneer will come out to decide on a price to help the development of the ecosystem system.
Also, there is another option, i.e. if we want to get to the mainnet faster, we can do the unified pricing work from now on to save time. Every pioneer hopes for a fast KYC and migration process, as well as opening up the mainnet, but this needs to be understood and done with care.
The critical factor in this case is the price per unit of the Pi Coin. Therefore, returning to the original price question in the Fireside Pi Forum, it is very important to make an impact on the GCV price. Core Team will respect the pioneer community. So, if you want to see how the Pi price changes in the Fireside Forums, it's important not to lie, but to stand up and support this process to make it go faster.
Regarding the Tencent China 2023 Conference Supporting GCV and Encouraging Successful Mainnet Development, this was officially conveyed by @dorisyincpa via a post uploaded to his Twitter account which reads as follows:
The Chinese Tencent Conference will be held on 6/11/2023 8 pm China Time! This conference has gotten huge community support! The topic is to support GCV and advance successfully open mainnets!
Yesterday there was a Fireside Forum coming out and many pioneers had questions about the price of Pi on it. And they have doubts if CT supports low price and against GCV. I will provide my analysis here and reference only. I don't represent CT.🙏
First of all, Dr. Nicolas said Pi price is created by pioneers and CT won't interrupt price or guide price. Because currently the blockchain data shows the low price of Pi. We can see a lot under table exchange FIAT because there are huge amounts of hundred and thousands Pi each transaction. So CT probably just uses the current data.
Second, we did see pioneers created a lot of low consensus price records. When it is low price, there are two destinations: open mainnet with this low price maybe $1 and it will go to the exchange market. Other destinations are different prices in the Eco system. Then two possibilities: 1. Let the market adjust by itself. Our pioneers use different prices in the ecosystem. We don't know when there will be a united price but most likely it will take a long time or merchants will run out of cash and withdraw eco system.2. Some pioneers will come out to call united prices to help the eco system develop well after some time mess up price period.
Or there is another option : if we want Open Mainnet sooner, we do united price work from now to save time. Every pioneer wants fast KYC and migration and an open mainnet, but you should understand how to do it.
The critical factor is united price!
So go back to pioneers question about Fireside Forum Pi price, it's a good thing we can see CT has Web3.0 platform and congratulations 🎉🎉🎉
Meanwhile we need to create influence on GCV prices! CT will respect the pioneers community. So if you want to see the changes of the Pi price on Fireside, you should not lie down, you should stand up to help the process faster!✊✊✊
I hope I answered some pioneers questions! And thanks to CT hardworking! We are proud to be pioneers!
@PiCoreTeam
#PiNetwork
#PIGCV
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| Twitter image source |
In the upcoming Tencent China 2023 Conference, the main goal is to support GCV (Global Cryptocurrency Vision). GCV is a vision that aims to advance blockchain technology and increase cryptocurrency adoption worldwide. The conference will also discuss progress in the development of the mainnet, which is the main network underlying cryptocurrencies.
Prior to this conference, a Fireside Forum was held which caught the attention of the pioneers. The forum generated a lot of questions regarding the price of Pi, a cryptocurrency developed by a pioneering community. Pioneers doubt whether Core Team supports the low price for the Pi and may oppose GCV. In this article, hokanews tries to provide an analysis based on the information that has been shared by @dorisyincpa
Dr. Nicolas, a representative from the Core Team, has stated that the Pi Coin price is set by the pioneers and the Core Team will not intervene or provide price guidance. They use current blockchain data that shows there is a low price for Pi. However, it should be understood that many transactions with large amounts of Pi coin occur outside the main exchanges, so the price of Pi seen may be lower than the market price. The Core Team is likely only using the currently available data to observe and analyze the price of Pi Coin.
It is important to note that pioneers have created many low consensus price records. The low price of Pi has two objectives to be achieved. First, open the mainnet at the lowest possible price, maybe around $1, and put it on the exchange market. Another goal is to create different prices within the Pi ecosystem. There are possibly two possible scenarios. First, markets can adjust naturally over time. Pioneers use different prices within the Pi ecosystem. However, the time needed to achieve uniform rates in this system may be long. Or secondly, several pioneers may have to take the initiative to set a unified price to help the development of the Pi ecosystem after a period of dynamic price changes.
However, there are other options to consider for opening the mainnet quickly. One way is to do aggregate pricing from the start to save time. However, this process must be carried out with care and taking into account the interests of all related parties, including KYC (Know Your Customer) and rapid migration.
In this context, the critical factor to consider is the price per unit of Pi Coin. Therefore, it is important to create a positive influence on the GCV price. The Core Team will respect the pioneer community, and because of this, if a pioneer wants to see changes to the Pi's price in the Fireside Forum, it's important to remain honest and support the process so it can go faster.
conclusion
The upcoming Tencent China 2023 conference will be an important platform to support GCV and advance mainnet development. The Fireside forums have previously raised questions and doubts regarding the Pi's price, and in this article hokanews has provided an analysis based on information that has been shared by @dorisyncpa. However, it is important to note that the author of this article does not represent the Core Team and the information provided is analytical and referential only.
Keep up the enthusiasm, don't give up, keep learning greetings from our HokaNews team to all pioneers around the world.
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