Pi Coin ‘Will Never Become Stablecoin,’ Says Expert
Main Idea
Pi coin is not a stablecoin, as it is not pegged to any real-world asset, and its value is determined by what its users ('Pioneers') consider it to be worth.
Key Points
1. Pi coin is not a stablecoin because it is not backed by a real-world asset like the US dollar.
2. Experts, including Kosasi Nakamoto, clarified that Pi coin does not have a fixed value of $314,159, stating 'one Pi equals one Pi.'
3. Nicolas Kokkalis, a Pi Network founder, emphasized that 'PI IS WORTH WHAT PIONEERS CONSIDER IT WORTH.'
4. Unlike stablecoins, which are pegged to fiat currencies, Pi coin is the native currency of the Pi ecosystem with a value determined by its community.
Description
The post Pi Coin ‘Will Never Become Stablecoin,’ Says Expert appeared first on Coinpedia Fintech News The statement– ‘Pi coin is similar to a stablecoin’ is a rumour spread via various news sources and social media to confuse people and lure them into scams. This got more popular after the rumors claimed that Pi is pegged to a specific asset like the US dollar. Some sources even claimed that Pi coin holds a fixed value of $314,159. Experts finally drew a line, settling the rumours, and concluded...
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