The Pi Network has been a long journey — five years, to be exact — and it still hasn’t launched its open mainnet. For many miners, this prolonged wait has been discouraging, with a significant portion of the community giving up entirely. From my own experience, only about 15% of my referrals are still actively mining.
On top of that, those who have migrated to the enclosed mainnet face their own struggles: some have sold their Pi coins, others have lost them, and many are searching for ways to sell. To be frank, the delay in launching the open mainnet has tested everyone’s patience. Comparisons with projects like Aptos or Sui, which launched relatively quickly, make the wait feel even longer.
However, despite the delays and challenges, I’m holding onto my Pi coins — and here’s why I believe you should too.
The Pi Network: Delayed, but Promising
Let’s address the elephant in the room: why has the Pi Network’s move to the open mainnet taken so long?
The team has repeatedly emphasized three key conditions that must be met before the open mainnet can launch:
- Completion of Open Network Preparations: The team states this is on track.
- Achievement of KYC and Utility Creation Goals: Significant progress has been made here (more on this below).
- Absence of Unfavorable External Conditions: The team is monitoring crypto market trends to determine the right time for the open mainnet launch.
Progress Towards KYC and Utility Goals
One of the major hurdles for Pi Network has been KYC (Know Your Customer) verification. The team set ambitious targets, including 15 million KYC-verified Pioneers and 10 million migrations to the enclosed mainnet. As of now, progress has been promising:
- 12 million Pioneers have completed KYC.
- 5.79 million users have successfully migrated to the enclosed mainnet.
On the utility side, the goal is to have 100 unique apps in the Pi ecosystem. So far, 70 apps have been developed, showcasing a growing ecosystem.
For context, my own KYC process took nearly two years, but it was finally completed last month. After completing the live-me test, I was added to the migration queue and successfully migrated within 14 days. This progress has renewed my faith in the project’s momentum.
Unfavorable External Conditions: A Waiting Game
The crypto market’s volatility is another factor influencing the Pi Network’s timeline. The team aims to launch the open mainnet during favorable market conditions, and the crypto market is expected to turn bullish by October or November this year. While this is promising, the final decision lies with the Pi Core Team.
Why Selling Pi Now Could Be Risky
For those considering selling their Pi coins before the open mainnet, let me share some words of caution:
- Risk of Scams:
A friend of mine tried selling 1,000 Pi coins at $0.80 per coin. He sent the coins to the buyer, only to be blocked and scammed, receiving nothing in return for his years of mining. - Low Prices in Peer-to-Peer Sales:
In countries like Nigeria, Pi is being sold for as little as 350 Naira (around $0.25). While this may be tempting, consider the potential long-term value. The price at open mainnet could be 10–100 times higher than these current rates — or lower. Personally, I’m willing to take the chance and hold my coins. - Why Are Whales Buying?
If whales and large holders are eager to buy your Pi for such low prices, it raises a question: what do they know that you don’t? Selling now could mean parting with your years of hard work for a fraction of its future value.
Why Pi Network Is Worth the Wait
While the Pi Network has taken longer than expected to launch its open mainnet, it’s important to consider what makes this project unique:
- 60+ Million Pioneers: The Pi Network boasts one of the largest communities in the crypto space.
- A Growing Ecosystem: With 70 unique apps and counting, the Pi ecosystem is building utility that many other mining projects lack.
- Commitment to Security and Regulation: The team’s careful approach to KYC and market timing shows a commitment to creating a sustainable and compliant ecosystem.
Unlike many other mining projects, the Pi Network isn’t just about speculation — it’s building real utility for its users. While the wait has been frustrating, I believe this careful approach will pay off in the long run.
Final Thoughts: Why I’m Holding My Pi
I’m not a member of the Pi Core Team, nor is this article sponsored. I’m just another miner like you, navigating the ups and downs of this journey. And while none of this is financial advice, here’s what I think:
Selling your Pi before the open mainnet might feel like a shortcut, but it could be riskier than holding on. The Pi Network has made significant progress this year, and the potential for long-term value is worth the wait.
So, what’s your take on Pi? Are you still mining? Have you sold your coins, or are you holding out for the open mainnet? Let me know in the comments — I’d love to hear your thoughts!
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
