Addressing the Question: Why Does Pi Eco-Merchant Need $314,159 to Barter? - Insight by Doris Yin - hokanews

Dear Business eco-merchants, leaders, and pioneers, today I am here to greet you in the morning from Canada. Good morning, good evening, and good afternoon! First, I would like to thank the Pi Revolution community leader, Mr. Woody, who presided over this conference. I would also like to thank all the eco-business guests who participated in the conference for the success of Pi. My topic for today's meeting is: Why do Pi eco-merchants need 314,159 US dollars to start bartering?

Before I present my analysis, allow me to introduce myself first. My name is Doris Yin. I graduated from Concordia University in Canada with a bachelor's degree in accounting and a minor in finance. I also graduated from Anhui University of Finance and Business in China with a bachelor's degree in economics. I was a Certified Public Accountant in the USA before, and now I am a USA IRS authorized tax resolution specialist working remotely for a USA debt company specializing in tax debt resolution. I lived in the USA for 11 years and also lived in Canada, specifically Quebec and Ontario, for a total of 11 years. I started mining Pi in October 2019, almost 1000 days ago.

Today, I'm thrilled that you can take the time out of your busy schedule to meet again in the Space Meeting to discuss the price of eco-barter. This is a question that all pioneers, merchants, and CT (Core Team) members are very concerned about at present. First, because it determines whether the project is successful. Second, it is related to whether the faith of tens of millions of pioneers for 3 years can finally be realized and achieve financial freedom. Third, it is related to whether merchants can accept this price and how much profit space can be generated at the same time. It also determines how many businesses can be attracted in the future and whether Pi can be realized as a global trade settlement currency.

Today, we have cordially invited eleven merchants from China, Nigeria, the United States, and the Philippines to share why they are willing to come to the Pi Network Ecosystem to empower themselves, and why they are willing to accept the price of 314,159 US dollars. They come from different countries and different industries. We will introduce them soon, and we will listen to why they will accept the price of 314,159.

Currently, the global economic situation is not optimistic, and all countries in the world are facing stagflation. Stagflation or recession-inflation is when the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high. Everyone knows that since the outbreak of the COVID-19 pandemic in early 2020, the United States and Canada have been issuing economic impact payments for more than a year, resulting in more and more paper money in the market, while there is an insufficient supply of materials.

In the face of soaring prices, the US Federal Reserve must raise interest rates to control prices, but this will undoubtedly increase the operating and borrowing costs of business owners, resulting in large-scale layoffs by business owners. For example, Tesla has 100,000 employees and laid off 10,000 of its senior employees, which many people cannot afford their mortgages and can only let the bank foreclose their homes at a low price. Since March of this year, the United States and Canada have experienced a drop in real estate sales and prices. The supply of building materials and wood has significantly decreased, and car sales have also been seriously affected. 

The backlog of these high-priced properties is significant. With the outbreak of the Russo-Ukrainian war, there have been energy shortages in European countries, and Russia and Ukraine are the main exporters of many basic raw materials worldwide. As a result, many people cannot afford their daily living expenses. In this economic situation, businesses and service industries are struggling to make sales because the increase in material prices raises costs, but the increasing unemployment makes people unable to afford to buy.

So, if eco-merchants join the Pi Network to participate in barter, it can obviously solve the crisis of this weak market. The real estate, automobile, commodities, daily necessities, tourism, and hotel service industries will be stimulated. As an accountant, I know that customers do not pay immediately; they all need 15 days to 1 month to pay. If you ask for immediate cash payment, you usually have to offer a discount. If some companies do not pay for three months when due, they have to find a collection company or a debt collector to request payment. 

These will increase the cost of doing business, and vendors will set aside 10-20% of revenue as an allowance for doubtful accounts because bad debt losses often occur. So the company has to write off the bad debt reserve. If vendors use Pi as payment, it will make the flow of funds smooth. The cost is reduced by at least 30%, and for international trade settlements, it can save at least 10-15% of bank service fees. Payments will be processed within seconds to their accounts. This means it not only brings in more high-quality consumer groups with purchasing power but also eliminates advertising costs and can save at least 20%-30% of operating expenses. Is this a good thing for all businesses? Especially in the current economic situation, economies in various countries are sluggish, and Pi is undoubtedly a timely solution.

Above, I have analyzed in detail why merchants accepting Pi as payment will bring unexpected cost reductions and increased sales for more profitable solutions. But what is the right price for a merchant? I think this is a question that all pioneers and merchants are very concerned about. You might think that a price of 314,159 is ridiculous. So, let's analyze it from both macro and micro perspectives:

First of all, merchants must want the Pi network to run in the long term, right? This is crucial. If merchants chase short-term profits, they probably wish for a low price so they can acquire more Pi and sell it when it is listed on an exchange. However, I don't think this plan will work well. Why? Because that means the closed network economy is not yet mature, as per the white paper. So, as a merchant, you probably will hold Pi for a long time, and you cannot sell it on an exchange. This is a significant risk for you as a merchant.

Think about it; even if the bartering price is $1000 or $6700, it still has the potential to be hyped. We don't need another Bitcoin. The birth of Pi is not to create hype in the exchange market. So, from my understanding, the design of the Pi network's closed mainnet is to prevent the emergence of another Bitcoin. This means you, as a merchant, can hold a lot of Pi but cannot exchange it for fiat currency as you might expect. But if the price is 314,159, it means your Pi can be exchanged for fiat currency very quickly if you need cash, and the time period will only be as long as your AR (Account Receivable) maximum of 3 months.

So it is necessary to think about the price from a long-term perspective and height. Then you need to understand the mission and vision of Pi: Pi will be a currency for and by the people. The world's most inclusive peer-to-peer marketplace is fueled by Pi, the world's most widely used cryptocurrency.

The future of Pi is to assume the responsibility of the world's circulating currency, especially the need to achieve peer-to-peer transactions, including daily life and international trade settlement. According to data from the Bank for International Settlements a few days ago, the average daily trading volume of the international foreign exchange market is 6-11 trillion US dollars. If calculated at a price of 1000 US dollars per Pi, it would take 6-11 billion Pi. 

If the price is 10,000 US dollars, it would take 60 million to 110 million Pi. If the price is 314,159 US dollars, it would take 19,098,609 to 35,014,117 Pi. Therefore, the initial barter price of Pi needs to be raised to at least 314,159 US dollars. I know that there are several transactions that will be counted multiple times if the same funds are transferred multiple times in one day. But even with 30%-50% of that volume, it still takes 10 million Pi per day to circulate when the price is 314,159.

So you might have a question, can Pi become a world currency in circulation? Can it become a world currency in circulation as described in the white paper of this project? My analysis is as follows:

First, general acceptance must be accepted by many people.

Second, the basis of value or credit. Everyone knows that Pi itself has a very high value, and this value comes from WEB3.0.

Third, stability: We already have two that qualify. So today, the reason we are high is to ensure that it is a stable currency.

So, how to make Pi stable? If the price is now 100, 1000, or 10,000 dollars, is it stable? Because Pi must eventually remove the firewall and be listed on an exchange, will 100, 1000, or 10,000 dollars attract speculation capital? You see, Bitcoin is a good example, and 60,000 US dollars were also bought for speculation. So does Pi need a higher price than the peak of Bitcoin to be safe? If lower than Bitcoin, the consequences are: first, Pi cannot conduct foreign exchange transactions, and second, there is instability. So how to avoid it? My answer is that all merchants supporting a price of 314,159 can avoid it. 

Why do we choose this number Pi? Because this number represents the power and energy of the universe and limitless life! Can we find CT with such a number? The source code is this number. So for this number, whether it's 31.415 or 3.141.592, we agree that six digits of $314,159 more accurately reflect the current value of Pi. It brings prosperity and peace.

Whether the price of Pi is high or low will not affect the total income of the merchant, only the number of coins that change hands among different merchants. Moreover, since the starting price of high-priced coins rises steadily, in addition to gaining profit from the price difference, they also gain profit from the appreciation of the currency. This appreciation is consistent and stable. So it is good for long-term investment.

Based on the above analysis, I think all merchants and pioneers will agree with this price. At this point, I would like to say that the project, merchants, pioneers, and the ecosystem are the most perfect win-win relationship. Lao Tzu in the "Tao Te Ching" once said, "The Tao is born one, one is born two, two is born three, and three is born from all things in the universe." This can be used to describe the Pi network. The emergence of the Pi network when our pioneers light up and obtain valuable Pi coins every day, and these valuable Pi coins and the Pi network attract merchants to settle and form a large Pi empire. This empire has its citizens, who are our pioneer miners, and various government agencies and merchant companies. 

Everyone uses this Pi coin, so the Pi empire will surpass countries, races, languages, religions, and the gap between rich and poor. That is, the currency super-sovereignty will come out into the world. It will make the world one, there will be no wars, and there will be no financial crisis. The current international political and economic situation is not optimistic, especially now there is a very similar period of stagnation in the United States in the 1970s for 12 years. The only solution in this situation is to stimulate economic growth through the Pi network, thereby reducing unemployment, digesting a large amount of dollars printed in the market.

Dr. Nicholas said: "Every pioneer will achieve great achievements, and the future of Pi coin is very rare and valuable! Is this the ideal world we dream of? Now we are very lucky because we know it will come true because of Pi! But we need all pioneers and merchants to work together to achieve this goal!

Pi is a battle, and Consensus Price is its weapon! Let all our merchants and pioneers unite to call the world! The one price of Pi is 314,159! Only this price can guarantee the long-term success of the Pi network!

That's my speech for today! Thank you for your attention!

Source Doris Yin