Pi Network Faces Mainnet Launch Delays, Bot Mining Concerns, and Community Frustration

The Pi Network, a blockchain platform that claimed to be revolutionary but has only revolutionized methods to invent new excuses for its delays

The Pi Network, a blockchain platform that has been plagued by delays and faced criticism over its mining mechanism, is reportedly planning to address the issue of bot-mined Pi Coins.

According to unverified reports, Pi Coins mined by bots, scripts, or inactive accounts may not transition to the mainnet. Instead, these coins could be made available for genuine users to mine further.

While the Pi Network's official channels have not yet confirmed or denied these reports, they have hinted at the possibility of such a move.

If implemented, this measure could significantly impact the Pi Coin economy, as a substantial portion of the coins in circulation are believed to have been bot-mined.

However, despite the growing concerns and discussions within the community, the Pi Network leadership's silence on critical issues continues to hamper the platform's progress.

Meanwhile, the price of Pi Coin IOUs, which are not recognized by the Pi Network team, experienced some volatility this week.

After days of minimal movement, the PI/USD pair finally showed signs of life. On August 13, the Pi Coin IOU price dropped nearly 16% to a daily low of $30.2 before recovering. The Pi Network token's price rose nearly 6% to a daily high of $35.5 on August 14.

As usual, there was hardly any reaction when the Pi Network token's IOU price went down. While the IOU doesn't directly indicate the actual value of Pi, you'd expect the same people who pop champagne bottles when one hopium-addicted user pays another in Pi to at least notice when the price drops.

These are the same dreamers who believe that Pi will somehow hit $314,159 when the mainnet launches. But when the token's IOU price stubbornly refuses to do anything interesting, their silence is deafening.

Even trading pairs like PI/INR remained flat, failing to provide the drama that some traders seem to crave. In reality, while the masses fantasize about Pi's meteoric rise, its price action is about as exciting as watching paint dry.

The support around $31.2 held, allowing bulls to fight back. However, if the immediate support fails, the support around $28.7 could come into play.

On the other hand, if there is an uptrend, the PI coin price could face resistance around the price levels of $35.3 and $38.6.

The RSI for PI on the daily chart remained (surprise, surprise) neutral, with a score of 38.78.