@@ddillard143 Yes! It is. The creators are pocketing ad money rather than putting it into the vehicle it was earned from, Pi. Also, Pi is not a currency, crypto or otherwise. As of right now, it’s in phase 2, so its just an app where you hit a button. No value yet and its on an unsustainable track. Billions of Pi coins are being senselessly minted against advice solicited from members to stop minting and hit mainnet now. If anything, its a social experiment making the creators rich and taking advantage of humans’ capacity for hope. Business as usual.
Whoa. This is big! Thanks for the amazing break down Wes! You have been amazingly helpful for this Pi journey. Gonna have to do some thinking on this lock up system and see what I should hold.
You are far better.. than those senior pioneer..!! 👏👏 who are rude and reluctant, doesnt want to explain what they know..to junior..!! Waiting for next video...!!
Wes thank you again for taking the time to share your thoughts and opinion regarding Pi. As always you have shown us an unbiased opinion and it gives me confidence in the Pi Network.
@T C how am I being scammed? The core team has never asked me for any money and other than a small amount of time each day I have invested nothing into Pi. Stop being a troll and trying to bring down something that has a lot of potential.
I have 300-400 Pi's so I'll lock up 100% because I have a better mining rate than my pre-mainnet mining period... and I'll earn more and more Pi's... which is good. 🚀✨👍
This is also telling me that due to the lock up settings that pi has provided us with... Mining rate will not go to zero when pi launches mainnet. It will probably be when pi reaches 100 million active miners.
wow, you're a good speaker, i almost didnt notice the time passed, 20 minutes felt like 5 minutes. Because of that, I subscribed, liked this video and of course dropped this comment to show my support. :)
They have to make sure it’s easy to understand for holders to understand how to KYC. In the past everyone seemed to be confused on how to KYC even with the instructions. The instructions should be simplified and easy to understand so that everyone can easily do their KYC.
Please i don't know what's wrong i can't verify my pi network phone number but i have already verified my pi network through Facebook is that okay please reply thanks
@@WesSpencer "Please refer to the lockup feature interface in the app for a more detailed explanation on how the lockup works and is calculated. When we launch the early version of the Mainnet later this month, we will also release updated sections of the whitepaper. There, you will be able to see the precise and complete Mainnet formulae and mechanisms". This can be found on the Read more section on the updated home screen.
Nice explanation Wes! That's the way I understand this. The key will be KYC! The PI core team explained it in depth and very algebraically but not very clear. I would not do a 100% lockup either, just so I can use or cash out some of the pi at least. 50-90% seems a reasonable range for 6mos to a year. Let's GO KYC already!
Hey Wes, the screenshot says an increase in mining rate, not an increase in pi amount. So it just means that, if you lock it up, you'll be able to mine new Pi 6.7X faster. What do you think of this angle I just pointed out?
Imagine you mined 100 pi with the current mining rate of (x) and imagine you would be mining with the (mining rate boost) in addition to your current mining rate So if your mining rate becomes (x)*100% your balance would also become 100% (taking 100% as the mining rate boost), so after applying 100% to your 100pi's mining rate your balance is now 200pi enjoy ;)
Thank you Wes, you have been consistent with your honest opinion and simplistic analysis of not just Pi but other projects that you discuss. I have faith in Pi Network and I believe it will succeed; personally I’ll luck up 80% for 3 years then use the remaining 20% to stay in the market. Please could you turn down the volume on the outro of your videos? It’s kinda loud, thanks.
Yep I'll get it fixed. Thanks! It's a bug in Adobe Rush. It isn't correctly auto tuning the sound down when it does the final render. Really aggravating because in edit, it works correctly.
The ecosystem of Pi Network will be developing for 3 years. In year 2025, Pi will be globally popular as a cryptocurrency. Many countries will adopt Pi as a medium of exchange.
We will need many to stake a certain percentage - if everyone tries to sell that will just drive price down or keep it down. What we may see in the early days of mainnet are peaks and valleys - excitement, then greed, then fear, panic, selling, repeat....if we stake enough that will mitigate some of those trader emotions.
*The reality of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left"*
I have 2,000 pi mined but Im only gonna get 1,200 of it because not all my team is verified. I dont have a lot of pi and I invested nothing, so Im gonna go all in, 200% for 3 Years.
Honest question here, how will the pi we mine after the main net lockup be distributed, if my settings are set to lockup 100% does it lockup the new coins I mine as well, or are those separate and go straight into my wallet to be able to use or sell? Thanks in advance
Wes I'm totally understanding what this content is all about and you help my clarity even more. That said here's my thoughts. The back end is if things move in the direction that we are on going to basically stall slow down to much. The front end is getting it's time and development and what Pi is to the ecosystem done by pioneers and that's perfect. But as layer after layer gets developed at some point the backend needs cash needs to scale and that will cost so how and where will this cash come from, is it this lock up. If so then I'm ready to make and start a liquidity pool yesterday.. Thank again Wes
🤙 so I save crypto so my kids may have a financial foothold in the future. That’s why I mine pi, do you think it would be best to hold for long term after release?
@@aaronneff9592 yes, depending on our needs, wants and financial situations, but one thing is for sure, we are staying with pi for decades. Pi to the moon!
Big question: say we lock up 100% of our Pi… the pi we’ll be mining from this lock up, would they be usable or with they be compounded to the lock up Pi ? Don’t know if that makes sense.
@@CandiiiCrystal that would be alright, I wouldn’t mine lock it up for 3 years if that’s the case. I actually think it will be the case that’s why we got the 200% lock up
One thing that comes in my mind is: Will they continue mobile mining or we will have to mine pi manually by putting mining rigs like any other crypto (BTC,ETH etc.)? Answer please....
From where this rewards will come? Is it from transaction fees thereby fixing the circulation amount fixed at Mainnet or from further increasing circulation supply?
Does community = money? Adoption and use of case does, but dont compare it to doge or shiba, they are meme coins. Pi wants to be legitamate, so will have competitors with extensive time in the market.
I am not losing anything by locking 100% for 3 years. By that way i ensure i dont sell it. Only loss will be an opportunity cost, which i am ok as its all free for clicking a button.
Great vid Wes thanks for the update, could you do another FEG update video lots of new updates lately, smartdefi immanent, new New York billboard due etc Cheers
@@WesSpencer Yeah, it's been a *long* time that I've been clicking that Mine button! My cousin introduced me to Pi, and I believe his boss introduced him? I have no idea how they were so early lol
Hi Spencer your explanation was great . Just 1 question, does the locks up is just apply on the purple transferable balance or the unverified balance will be locks up as well after my recruite pionners after done the KYC?
i would tell everyone regardless of their current amount to go 90% for 3 years. This guarantees growth for us all, and allows the ecosystem time to establish itself, and gives us all some fun coins to play around with at the beginning
@@SpaceFarmer7 this is more feasible for people with larger pi holdings...for people with lesser pi we will play around with it literally.. maybe gift a person or two and it'll be gone
Sir how much will be the total supply of PI gonna be? If it's in billions, then there will not be much increase in price. So IMO lockup doesn't help you at all. If the supply is in Millions then you have to decide whether to lockup or not. It's my opinion.
I HAVE BEEN MAKING LOSSES TRADING MYSELF...I THOUGHT TRADING ON DEMO ACCOUNT IS JUST LIKE TRADING THE REAL MARKET... CAN ANYONE HELP ME OUT OR AT LEAST ADVICE ME ON WHAT TO DO?
Wes, this is the process: 10% is applied to the amount transfered. If you have 2000, 10% is 200. Then you let 1800 and the 10% is 180. And go on. Eagle Network is doing something similar.
Hi everyone, I need some advice on the lock up. I have just locked up and saved but it says I must pass KYC first and there is no option to do this. How do I do this? is it currently disallowing people from passing KYC because I have no clue where to do it? Thanks.
Thank you for the information Wes. You're actually the reason why I stayed in the Pi Mining
Same here.Wes and Christian Rauchenwald definitely
@@tinasheo sir what is the amount of 1π
@@tinasheo same. Without these two I don’t I’d have held faith in pi.
💜💜💜💜💜 🤝🤝🤝🤝🤝
Thanks you so much
Pi to the moon !! 🚀
Will be most crypto used in the world 🗺
Is the token even tradable?
@@ddillard143 not until mainnet launch. Which is coming soon. They just announced a huge update
@@connorjohanning9604 thanks
@@ddillard143 Yes! It is. The creators are pocketing ad money rather than putting it into the vehicle it was earned from, Pi. Also, Pi is not a currency, crypto or otherwise. As of right now, it’s in phase 2, so its just an app where you hit a button. No value yet and its on an unsustainable track. Billions of Pi coins are being senselessly minted against advice solicited from members to stop minting and hit mainnet now. If anything, its a social experiment making the creators rich and taking advantage of humans’ capacity for hope. Business as usual.
@@Professorofwokia that is what I thought and that's why I'm steering clear
Whoa. This is big!
Thanks for the amazing break down Wes! You have been amazingly helpful for this Pi journey. Gonna have to do some thinking on this lock up system and see what I should hold.
This is one video that needs to be saved and seen multiple times to understand the entire thing..
Honestly the best decision for me will be to lock 50% of my Pi for 3 years, 50-50 seems like the safest option.
50% for me to lock up will be the right choice
All in
3 years is too long
@@MacardiDot you’ll thank yourself when you’re a millionaire tho
@@MacardiDot If you can't hold you can't be rich
Thanks Wes, you're doing a great job
Thanks for the update. Love from Nigeria
First time watching, very informative. Thnx
You really did your best Wes. Thanks a bunch
Love the very informative content! 👍 Pi to the moon
Nice to have you we have been waiting for ur video sir, thank God is finally
Thanks Wes for your honest opinion.God Bless you more
👆 DM FOR MORE DETAILS ON TRADES
This 100 is 105 my 799 pernum 9. I am really happy to participate here. I like pi network.
You are far better.. than those senior pioneer..!! 👏👏 who are rude and reluctant, doesnt want to explain what they know..to junior..!! Waiting for next video...!!
I will stake 70% of mine
Wes thank you again for taking the time to share your thoughts and opinion regarding Pi. As always you have shown us an unbiased opinion and it gives me confidence in the Pi Network.
@T C how am I being scammed? The core team has never asked me for any money and other than a small amount of time each day I have invested nothing into Pi. Stop being a troll and trying to bring down something that has a lot of potential.
I discover this mainnet update today when I went to mine, thanks for all the info.
I have 300-400 Pi's so I'll lock up 100% because I have a better mining rate than my pre-mainnet mining period... and I'll earn more and more Pi's... which is good. 🚀✨👍
Great Breakdown of the Lock Up (Definetly Interesting) but I didn’t know I was going to Boogey to Music at the end of your video 😆
This is also telling me that due to the lock up settings that pi has provided us with... Mining rate will not go to zero when pi launches mainnet. It will probably be when pi reaches 100 million active miners.
@T C I didn't ask you anything
I think you are the only one who do good information (sorry for my english I am from Italy)
wow, you're a good speaker, i almost didnt notice the time passed, 20 minutes felt like 5 minutes. Because of that, I subscribed, liked this video and of course dropped this comment to show my support. :)
You’re so informative Wes thank u
You’re always the best to me . thank you for information . i hope see your video soon.
They have to make sure it’s easy to understand for holders to understand how to KYC. In the past everyone seemed to be confused on how to KYC even with the instructions. The instructions should be simplified and easy to understand so that everyone can easily do their KYC.
Agree
Please i don't know what's wrong i can't verify my pi network phone number but i have already verified my pi network through Facebook is that okay please reply thanks
@@peterwest7992 no it isn’t you will lost all your mined pi, game over
@@SinesConfidemus whats the solution to this problem?
@@peterwest7992 load your sim so that you can verified
Wes Good morning. I always like ur inforamitive videos on cryptocurrency.
I was waiting for you, Wes! Always making sense
Everything is Clear 👍🏿
Nice review. It's really explanatory. Gained alot from today's video. Thanks Sir. Wes Spencer.
Hey Wes! Definitely this year. It's confirmed.
Can you point me to where they confirmed?
@@WesSpencer "Please refer to the lockup feature interface in the app for a more detailed explanation on how the lockup works and is calculated. When we launch the early version of the Mainnet later this month, we will also release updated sections of the whitepaper. There, you will be able to see the precise and complete Mainnet formulae and mechanisms". This can be found on the Read more section on the updated home screen.
Nice I have 2k pi, and mainnet is underway, that's correct, for poeple reading this install it today don't mis out
Nice explanation Wes! That's the way I understand this. The key will be KYC! The PI core team explained it in depth and very algebraically but not very clear. I would not do a 100% lockup either, just so I can use or cash out some of the pi at least. 50-90% seems a reasonable range for 6mos to a year. Let's GO KYC already!
Great Wes! Thank you for the news, great outro music 👌🏼☮
As always my freind, quality content
It is very well thinking and healthy for the PI evolution that the pioneers does not get the PI of the members unless the KYC is done
Hey Wes, the screenshot says an increase in mining rate, not an increase in pi amount.
So it just means that, if you lock it up, you'll be able to mine new Pi 6.7X faster.
What do you think of this angle I just pointed out?
Imagine you mined 100 pi with the current mining rate of (x)
and imagine you would be mining with the (mining rate boost) in addition to your current mining rate
So if your mining rate becomes (x)*100% your balance would also become 100% (taking 100% as the mining rate boost), so after applying 100% to your 100pi's mining rate your balance is now 200pi enjoy ;)
I think mining based rate will decrease !
@@NhanDs.Entertainment base will decrease that's why staking/lock up will be an option to boost mining rate
Were patiently waiting 🥰
Thanks Wes it's my 1st coin mining project think I'm doing 90% for 3 years there not much pioneers on island in Antigua
Thanks Wes.😊😊very informative😊
Thank you Wes, you have been consistent with your honest opinion and simplistic analysis of not just Pi but other projects that you discuss. I have faith in Pi Network and I believe it will succeed; personally I’ll luck up 80% for 3 years then use the remaining 20% to stay in the market.
Please could you turn down the volume on the outro of your videos? It’s kinda loud, thanks.
Yep I'll get it fixed. Thanks! It's a bug in Adobe Rush. It isn't correctly auto tuning the sound down when it does the final render. Really aggravating because in edit, it works correctly.
The ecosystem of Pi Network will be developing for 3 years. In year 2025, Pi will be globally popular as a cryptocurrency. Many countries will adopt Pi as a medium of exchange.
We will need many to stake a certain percentage - if everyone tries to sell that will just drive price down or keep it down. What we may see in the early days of mainnet are peaks and valleys - excitement, then greed, then fear, panic, selling, repeat....if we stake enough that will mitigate some of those trader emotions.
*The reality of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left"*
So true, well said!
90% for 3 years lockup for me..I will later smile for job well done 👍🏿
Thank you for the information - Cam (From Orlando FL)
Yes, this is staking, because you are receiving 500% more of Pi per hour for mining.
Not automatic staking, but a kind of staking, related on how Pi tokens are generated.
Correct. It’s not “proof of stake” style staking in which you’re earning via smart contract but in a loose manner of speaking, sure, you’re “staking”.
@@WesSpencer Exactly.
Thank you very important information shared and explained
I have 2,000 pi mined but Im only gonna get 1,200 of it because not all my team is verified.
I dont have a lot of pi and I invested nothing, so Im gonna go all in, 200% for 3 Years.
Honest question here, how will the pi we mine after the main net lockup be distributed, if my settings are set to lockup 100% does it lockup the new coins I mine as well, or are those separate and go straight into my wallet to be able to use or sell? Thanks in advance
💪⚡️⚡️⚡️So happy! Pi really so great and are number one ❤️❤️❤️
Wes I'm totally understanding what this content is all about and you help my clarity even more. That said here's my thoughts. The back end is if things move in the direction that we are on going to basically stall slow down to much. The front end is getting it's time and development and what Pi is to the ecosystem done by pioneers and that's perfect. But as layer after layer gets developed at some point the backend needs cash needs to scale and that will cost so how and where will this cash come from, is it this lock up. If so then I'm ready to make and start a liquidity pool yesterday.. Thank again Wes
Pi is now live at mainnet 😍
Ok I just heard you, I will probably just lock it up for my kids.
Thanks for this knowledge bro 🔥🔥🔥
🤙 so I save crypto so my kids may have a financial foothold in the future. That’s why I mine pi, do you think it would be best to hold for long term after release?
For me, It's a yes, because pi network is a long term project, better we not regret spending it all at launch or for months to come.
I’m thinking 50% like Wes said. I mean if it’s going to grow the other 50% will do good also.
Then maybe the other 50%
I have some eth. In 2.0 for them also
@@aaronneff9592 yes, depending on our needs, wants and financial situations, but one thing is for sure, we are staying with pi for decades. Pi to the moon!
I'm going 50/50 for one year let's goo to the moon!
I did 50% for one year the years seem to be going fast but again who knows what will happen in a year
Big question: say we lock up 100% of our Pi… the pi we’ll be mining from this lock up, would they be usable or with they be compounded to the lock up Pi ?
Don’t know if that makes sense.
I believe what ever you lock up now it’s what’s gonna be locked up and whatever you mine after will be free pi
@@CandiiiCrystal that would be alright, I wouldn’t mine lock it up for 3 years if that’s the case. I actually think it will be the case that’s why we got the 200% lock up
One thing that comes in my mind is: Will they continue mobile mining or we will have to mine pi manually by putting mining rigs like any other crypto (BTC,ETH etc.)?
Answer please....
From where this rewards will come? Is it from transaction fees thereby fixing the circulation amount fixed at Mainnet or from further increasing circulation supply?
Thank you sir!
持續點亮閃電
Waiting for your video from yesterday... Hehehe
👆 👆 Msg me directly for new investment tips 📈..
Yes this is real I have it on mine as well
People are getting way to excited about this project. There are plenty of legitimate projects that have mainnet that have a value of nothing.
Agree on that point, but none of them have the numbers of people like pi. We will se what happens after mainnet..
@@despairgaming6669 I agree, unlike other currencies Pi Network has a large community on their back
Does community = money? Adoption and use of case does, but dont compare it to doge or shiba, they are meme coins. Pi wants to be legitamate, so will have competitors with extensive time in the market.
I am not losing anything by locking 100% for 3 years. By that way i ensure i dont sell it. Only loss will be an opportunity cost, which i am ok as its all free for clicking a button.
Agree on that: we don't know yet about lock up. what will happen
Hey, just a quick tip: mix your stereo mic audio to a mono track. It sounds kinda odd now. Great video btw. :)
Probably adding more options like 0, 20%, 40%, 60%, 80%, and 100%
Great vid Wes thanks for the update, could you do another FEG update video lots of new updates lately, smartdefi immanent, new New York billboard due etc
Cheers
Ima play it safe lock up 25% for a year
Keep going guys it‘s going to moon im pretty sure
Naah
great insights 🤔🤔🤔
Oh wow, my Log is at 802! I knew I've been with Pi for a long time, but wow lol
Wow. You're close to a year in front of me. That's crazy.
@@WesSpencer Yeah, it's been a *long* time that I've been clicking that Mine button! My cousin introduced me to Pi, and I believe his boss introduced him? I have no idea how they were so early lol
So the people I invited who aren’t mining are gonna screw me out of potential wealth? Fucking A
Great video
Pi ♥️♥️♥️♥️
my only hope for my family...im tired bieng construction worker..thanks.....
👆 👆 Msg me directly for new investment tips 📈 👆
🤣🤣 i bet 1million pi will be worth of 10-50$
So you will continue to be construction worker, no hope for family
Thanks for sharing your insights Wes,
Intetests and price projections are another angle to consider in lock up.
Goodvideo!
I m not sure about that but I Hv faith on you
what happens to the mined with the boosted rate pi? It will go to the unspendable or to the spendable part of the wallet
Very good 👍💪
We need to know when kyc is ready for each user, anyway thanks for the wonderful job. Thumbs up
Hi Spencer your explanation was great . Just 1 question, does the locks up is just apply on the purple transferable balance or the unverified balance will be locks up as well after my recruite pionners after done the KYC?
What would be the better move if your pi holding is less than 1000.. 50-50 or all locked?
i would tell everyone regardless of their current amount to go 90% for 3 years. This guarantees growth for us all, and allows the ecosystem time to establish itself, and gives us all some fun coins to play around with at the beginning
@@SpaceFarmer7 this is more feasible for people with larger pi holdings...for people with lesser pi we will play around with it literally.. maybe gift a person or two and it'll be gone
Sir how much will be the total supply of PI gonna be? If it's in billions, then there will not be much increase in price. So IMO lockup doesn't help you at all. If the supply is in Millions then you have to decide whether to lockup or not. It's my opinion.
There are hundreds of coins will billion + supply that have shown massive growth and price increase. Do you even crypto?
In the end of video the audio music over powered what you had to say. Good info overall
I am mining so well I pray that this is all pay off
The music though Wes 😀❤️👍
Hi Wes.
Do you know the roadmap for KYC ? and how about the Pi price in your forecast ?
Thank Wes very much for your contribution for Pi network :)
I HAVE BEEN MAKING LOSSES TRADING MYSELF...I THOUGHT TRADING ON DEMO ACCOUNT IS JUST LIKE TRADING THE REAL MARKET... CAN ANYONE HELP ME OUT OR AT LEAST ADVICE ME ON WHAT TO DO?
Dang Wes it’s been almost a year?? 🤣 I remember that Kyc video like yesterday! Still vibin at the end tho, glad some things don’t change! 😁
Wes, this is the process:
10% is applied to the amount transfered. If you have 2000, 10% is 200. Then you let 1800 and the 10% is 180.
And go on.
Eagle Network is doing something similar.
In the case you choosed 90%
There's a token called neuralium. Can you take a video of it?
I just going lock all my pie for bout 5 years see were I can take it
👆 👆 Msg me directly for new investment tips 📈 👆
PI needs to get more community engagement to help with non-dev tasks.
You are right
Hi everyone, I need some advice on the lock up. I have just locked up and saved but it says I must pass KYC first and there is no option to do this.
How do I do this? is it currently disallowing people from passing KYC because I have no clue where to do it? Thanks.
Goed video!👍
Nice video, Wes. But I hope you could lower your music volume by 30 - 40 percent. Thank you.
Yeah sorry. Adobe Rush bug. I will get it corrected.
No worries, Sir. Thank you.