Smart Steps Towards the Open Mainnet: The Importance of Partial Pi Payments in Building the Ecosystem – Doris Yin
Today, let's discuss how partial Pi payments can benefit the ecosystem during the enclosed mainnet.
I first raised this concern two years ago, and at that time, many pioneers were against it. They argued that Pi is a currency and questioned the need to pay partial fiat for bartering. Some even accused me of earning fiat from the merchants who used partial fiat.
✅As an accountant, I base my ideas on practicality and feasibility. I have the following reasons for suggesting partial Pi payments:
Another cooking airdrop at Swallow Bitget 👇
👉Our goal is to establish Pi as a currency, but we're not there yet. We are creating Pi as a currency in the community now. Only pioneers view it as a currency. What about parties outside of the Pi community, such as the government collecting taxes, or merchants paying rent, employee wages, utilities, and materials? All of these require fiat payments.
👉As the current enclosed mainnet has been for two and a half years, it is not feasible for merchants to accept full Pi payments without fiat for such an extended period. The earliest OM may not be accessible for another five months, potentially taking up to 11 months. During this period, fewer merchants may be willing to join the Pi Network and accept full Pi payments for the long term. There may also be a lack of high-value products available for barter, except for some merchants who offer limited products and aim to accumulate Pi. This is why I have observed that many Chinese merchants and online malls are waiting for the open market. They will only accept full Pi payments after the OM is available. However, if we fail to develop a real ecosystem during the current enclosed mainnet phase when more pioneers receive Pi from their wallets, they may lose hope and decide to sell Pi. Without a robust ecosystem in place, the price may significantly drop after the open market, as many pioneers may be looking to sell. Therefore, building a strong ecosystem during the current close-to-OM phase is crucial.
👉We submitted a petition for OM on Pi2Day because we have observed that most pioneers, community leaders, or merchants of the GCV community are using up their resources for barter for small items with full Pi payment after 6-10 months. Pi2Day represents a significant milestone as we have successfully established the price for the recent 3-4 months of active GCV data almost covers 90% of the blockchain record. If CT announced OM on that day, it needs CT to announce GCV as the price for the entire ecosystem. This would greatly accelerate the development of the ecosystem, as everyone would be using GCV for full Pi payment after OM. However, CT may be more conservative in this approach. I believe they want pioneers to build the ecosystem using the GCV price ourselves. It's my personal belief that by accomplishing this, they may not find it necessary to announce the price since GCV would already be widely accepted. I see this as an exciting opportunity for GCV and the ecosystem. The solution lies in partial Pi payment.
✅In the following discussion, I will explain why accepting full Pi payments during the enclosed mainnet may not work well.
👉If merchants of high-value products accept full Pi payments, especially when supporting the GCV, pioneers will flock to them and buy up all their products, leaving merchants at risk of bankruptcy. As a result, no high-value product merchants would be willing to make their company or store name and address public, out of fear of going bankrupt.
Download the Satoshi app to get more free airdrops
https://www.btcs.fan/invite/2ljwf
👉This full Pi payment with GCV will give speculators the opportunity to trade high-value products from merchants using GCV, and then exchange them for low Pi prices to accumulate Pi. In this way, GCV merchants sacrifice their money and products but don't actually gain strong GCV data. They support GCV because they want GCV's success, so the Pi can be worth $314, 159. But when they barter out high-value products here, pioneers sell them at low FIAT prices in the market to get cash or barter out in the mall with low Pi prices to create low-price data. This makes it useless for merchants to sacrifice because some pioneers will disturb the FIAT currency fair market price and create a low Pi price which will hurt GCV merchant's benefit. I mention this because it did happen and merchants and online malls changed their minds not to attend the ecosystem until OM with a fixed price.
👉It only benefits individual pioneers instead of benefiting all pioneers. Those who are unable to obtain high-value products feel anxious and are complaining. This situation might also discourage merchants from joining the Pi Network. I know many Chinese merchants who have invested a lot in bartering and are experiencing financial difficulties, so they won't participate if full Pi payment is required.
✅Now is an opportune time to advocate for the re-engagement of merchants in utilizing Partial Pi Payment. The rationale behind this assertion is the substantial backing from pioneers for GCV. A critical development is the widespread understanding, following two years of education, that we are actively engaged in establishing the Pi Price. Nevertheless, the protracted period of the enclosed mainnet has limited most merchants' capacity to fully support Pi payments. As pioneers, it is incumbent upon us to aid merchants in resolving this cash flow challenge. Each pioneer routinely expends a substantial amount of FIAT on essential items such as groceries, apparel, footwear, accessories, furniture, appliances, mobile devices, televisions, and various other goods. Our collective purchasing power is considerable with 6 million wallets holding 1.2 billion available Pi. Leveraging this power internally stands to benefit pioneers immensely. Today's actions with GCV affirm that the OM price stands at GCV $314,159.
👉If we choose to do nothing but wait, first, we cannot save Fiat for 5-11 months of household spending. Second, the GCV price cannot be guaranteed. And the most important thing, if during the 5-11 months, we don't build up a real ecosystem, there are no users, and there is no unified price. This will put OM at risk of failure. I believe today CT can give us a deadline by the next Pi2day because they can see GCV has been created. However, things will change if we do nothing.
Airdrop is cooking on telegram, do it now or never:
https://t.me/tapswap_mirror_2_bot?start=r_2094125441
https://t.me/hamster_kombat_bot?start=kentId2094125441
https://t.me/BBQcoin_bot/BBQcoin?startapp=rp_9000013_2094125441
https://t.me/realyescoinbot?start=r_2094125441
https://t.me/dotcoin_bot?start=r_2094125441
https://t.me/wcoin_tapbot?start=MjA5NDEyNTQ0MQ==
https://t.me/memefi_coin_bot?start=r_beec1a563b
https://t.me/theYescoin_bot/Yescoin?startapp=pSICps
https://t.me/pixelversexyzbot?start=2094125441
Let's fight for rewards together!
Take your welcome bonus:
💸 2,000 Coins + 2X multiplier for the first 24 hours
👉I can see the Partial Pi payment proposal getting a lot of support from some countries' communities. I have noticed that China GCV CT and Philippine GCV CT have published their proposal for Partial Pi Payments to merchants. Many merchants are very pleased with this proposal and eager to support GCV partial Pi and partial FIAT. The payment rate is flexible, ranging from 10% to 90% of the payment in Pi. Merchants will benefit from being exposed to 10 million pioneers worldwide, enhancing their reputation and increasing sales. But we must remind all merchants and service providers to list the original FIAT price and this price should be competitive. And then list partial FIAT and partial Pi price.
👉By accepting partial Pi payments, merchants will have enough FIAT to restock and cover expenses such as taxes, wages, and rent. This will help their inventory move quickly and maintain cash flow. Merchants do this to keep some of their profits as Pi, which they can then use to pay their suppliers or convert to FIAT after OM. Hence, they are not exposed to significant risks except for Pi prices. Nonetheless, if concerted global efforts are dedicated to GCV, merchants will be shielded from risks because GCV will be OM fixed price.
👉Merchants can establish a loyal customer base on one of the world's most advantageous public blockchains by participating in the Pi Network. This approach aims to attract Pi community pioneers who are merchants and draw in merchants and businesses from outside the community. Establishing a complete industry chain is crucial for Pi to be recognized as a fully functional currency after OM. Now we are building the foundation for post-OM.
👉Merchants who are pioneers but have not yet completed KYC can use the eco wallet. Alternatively, non-pioneer merchants can apply to become pioneers. If merchants have not yet passed KYC or activated a wallet, they can also use the eco wallet. Once they have their own wallet, they can transfer Pi to their personal wallet or make payments to suppliers from their eco wallet. Transferring Pi to an individual wallet is not advisable if the merchant is a corporation. This is due to the fact that the profits are the property of the corporation rather than that of the individual. Notwithstanding the representation of the profit as Pi, it is the rightful possession of the corporation. Therefore they should use the corporation's name to open an eco wallet.
✅As pioneers, it's important to understand that our role extends beyond simply KYCed and migrating Pi to our wallets. We also have a responsibility to contribute to creating Pi's value and supporting ecosystem development. This means actively participating in ecosystem development, sharing information, and engaging in barter to generate GCV data. These activities can help pioneers save money and contribute to the overall development of the ecosystem.
I've noticed that recently many pioneers are solely focused on the KYC process. While paying attention to this is important, it's essential to understand that KYC is not yet open to everyone. Therefore, it's crucial not to panic if you're unable to complete KYC. Instead, you can just wait your turn. If it is not open to you, your clock won't start. So no worry about it. And we should shift our attention to ecosystem development. The logic is straightforward: if we want KYC and migration processes to be faster, we need a robust ecosystem with a stable GCV price. By actively contributing to ecosystem development, we can expedite the overall process. If we remain passive, the process will likely be more conservative. It's important to realize that without a vibrant ecosystem, the rapid migration of Pi poses a high risk of black market activity.
By prioritizing ecosystem development, all pioneers will benefit from a faster migration process and ensure its success. Ms. Lumari, Global GCV Ambassador from the Philippines has demonstrated great leadership by organizing nearly 30 provincial-level GCV Ambassadors for ecosystem development. It is crucial for all local GCV Ambassadors to operate at the local level, as they will be more familiar with local offline businesses. Every community has its unique tactics and strategies. I see community leaders from Indonesia's Ms. Nonny, Malaysia's Mr. Patrick, and China's Mr. Dannyl are very active in this strategy, and there are more community leaders who did very well whom I haven't mentioned. I am very appreciative of all your hard work and efforts.
As long as we can motivate various merchants and service providers to join in, we are on track to successfully develop the ecosystem. We should be aware that the OM might be launched by the end of this year or the next before Pi2Day. While the CT might have multiple factors to consider when making decisions, I am confident that ecosystem development will be an important factor. Therefore earlier or later OM has a direct relationship with our pioneers.
I will post the Chinese and Philippine GCV CT announcement " The call to action to merchants for partial GCV Pi payments" in my next post. If there are any Chinese merchants who are interested in participating, please contact Mr. Shi Liang, the Global GCV Ambassador from China. I'm confident that Ms. Lumari, the Global GCV Ambassador from the Philippines, is already doing an excellent job taking care of the Filipino community.
Global pioneers, let's unite to educate and promote the partial Fiat and Pi payment system. Together, we can fortify the Pi Network ecosystem and bring about the successful launch of OM with GCV at an earlier time.
By: Doris Yin.
Listing date 2 Agust 2024, Mining Now:
https://t.me/TimeFarmCryptoBot?start=FYJUjlbvRSeUZrSO
1 $BLUM = $10
Here is my blum link:
Those who haven't mined Pi Coin, download it now
http://t.me/catsgang_bot/join?startapp=42a52yRU3h42ueQfNTsm
https://t.me/notcoin_bot?start=er_40808962
https://t.me/DejenDogBot?start=d20e5462
https://t.me/muskempire_bot/game?startapp=hero2094125441
