PI硬币价格真的可以达到5美元吗？炒作和操纵背后的真相

自2月下旬正式在Mainnet上正式推出以来，就PI网络项目有很多争议和猜测。

There’s been a lot of buzz and controversy surrounding the Pi Network project, especially since it finally launched on mainnet in late February. While the Pi coin price hasn't really moved much lately, remaining in the $0.75-$0.80 range over the past few days, rendering it largely unimportant, the biggest crypto YouTube channel, Coin Bureau, decided to clear the air about the project.

PI网络项目引起了很多嗡嗡声和争议，尤其是自2月下旬在Mainnet推出以来。尽管Pi Coin价格最近并没有真正转移，但在过去几天中仍保持在0.75- $ 0.80的价格，这在很大程度上不重要，但最大的加密YouTube频道Coin Bureau决定清除有关该项目的空气。

In their in-depth video, host Nick takes a closer look at the founders, how Pi works, how it makes money, and of course, whether that magical $5 Pi coin price is really possible.

主持人尼克在深入的视频中仔细研究了创始人，PI的工作原理，它如何赚钱，当然还有5美元的$ 5 pi硬币价格真的是可能的。

Let’s start with the big players behind Pi. While the project is mostly associated with Stanford grads Nicholas Kokalis and Chengdiao Fan, the original team actually included four founders. Vincent McPhillip and Aurelien Schiltz were also part of the early core group. However, Vincent left the project under controversial circumstances and even filed a lawsuit, which was quietly settled in 2023. Aurelien stayed and is still actively contributing to Pi’s codebase.

让我们从PI背后的大玩家开始。尽管该项目主要与斯坦福大学毕业生尼古拉斯·科卡利斯（Nicholas Kokalis）和成谷（Chengdiao）粉丝有关，但原始团队实际上包括四个创始人。 Vincent McPhillip和Aurelien Schiltz也是早期核心小组的一部分。但是，文森特在有争议的情况下离开了该项目，甚至提起了诉讼，该诉讼在2023年悄悄地解决。Aurelien留下来，仍在积极为PI的代码库做出贡献。

One of the most crucial things to understand about Pi Network is how it actually functions. Unlike most crypto projects that use proof-of-work or proof-of-stake, Pi runs on a modified version of the Stellar Consensus Protocol. It’s extremely centralized—only 28 nodes and 3 validators exist, and all three validators are operated by the Pi core team. This level of control has led to skepticism from individuals seeking a truly decentralized currency.

关于PI网络的最关键的事情之一是它如何实际运作。与大多数使用工作证明或验证证明的加密项目不同，PI在恒星共识协议的修改版本上运行。它非常集中 - 仅存在28个节点和3个验证器，并且所有三个验证者均由PI Core团队操作。这种控制水平引起了寻求真正分散货币的个人的怀疑。

As for mining Pi, it's not really mining in the traditional sense. Users tap a button once a day to demonstrate they're human and engaged in the project. It's more like a gamified rewards system than a blockchain consensus mechanism. And while millions of users have completed KYC to claim their tokens, only a portion of the total supply is currently unlocked and available for trading.

至于采矿PI，从传统意义上讲，它并不是真正的开采。用户每天点击一个按钮以证明自己是人类并参与该项目。这更像是游戏化的奖励系统，而不是区块链共识机制。尽管数百万用户已经完成了KYC来宣称其令牌，但目前只有一部分总供应量已解锁并可用于交易。

This brings us to the tokenomics. Pi has a massive max supply of 100 billion coins. Sixty-five percent is allocated for mining, while the remaining percentage is divided among the team, the foundation, and liquidity. To date, 7.2 billion coins have been mined, but only 2 billion are unlocked for users. Meanwhile, over 3 billion Pi are unlocked for the team and the foundation. This means the core team controls more of the circulating supply than the entire user base.

这使我们进入了令牌学。 PI的最大供应量为1000亿个硬币。分配了65％的人用于采矿，而剩余百分比在团队，基金会和流动性之间分配。迄今为止，已经开采了72亿个硬币，但用户仅解锁了20亿个硬币。同时，为团队和基金会解锁了超过30亿的PI。这意味着核心团队比整个用户群都控制了更多的循环供应。

Now, for the question everyone wants answered: can Pi coin really reach $5?

现在，对于每个人都想回答的问题：Pi Coin真的可以达到5美元吗？

Technically, yes, but only if certain conditions are met. The low liquidity on exchanges makes it easier to pump the price. There are only around 300 million Pi coins on known exchange wallets, which is incredibly small compared to other major cryptos. And if the team is selling coins over-the-counter (OTC) and using those funds to work with market makers, they could keep prices artificially high—at least for a while.

从技术上讲，是的，但是只有满足某些条件。交流的流动性低使得更容易抽出价格。已知的交换钱包上只有大约3亿个PI硬币，与其他主要加密货币相比，这非常小。而且，如果该团队正在出售硬币非处方（OTC）并使用这些资金与做市商合作，那么他们可以将价格人为地保持高价，至少有一段时间。

Nick explains that this type of price manipulation isn’t unique to Pi. It’s happened with other major projects, too. But because Pi has such low available supply on exchanges, it’s much easier to move. That’s how some people believe Pi could hit $5, even if its fundamentals don’t really justify that valuation.

尼克解释说，这种价格操纵不是PI所独有的。其他主要项目也发生了。但是，由于PI在交流中的可用供应量如此之低，因此移动要容易得多。这就是某些人认为PI可以达到5美元的方式，即使其基本面并不能真正证明这一估值是合理的。

The video also briefly mentions upcoming milestones that could drive more attention to Pi and possibly boost price. These include making it easier for people to migrate coins to mainnet, converting Fireside forum tokens into Pi, and onboarding more developers. However, Nick warns that Pi Network’s lack of transparency and slow communication with its community are holding it back. Even now, their roadmap seems outdated and incomplete.

该视频还简要提到了即将到来的里程碑，这些里程碑可能会引起PI的更多关注，并可能提高价格。这些包括使人们更容易将硬币迁移到主网，将Fireside论坛令牌转换为PI，并攻入更多的开发人员。但是，尼克警告说，PI Network缺乏透明度和与社区的沟通缓慢正在阻止它。即使是现在，他们的路线图似乎已经过时且不完整。

There are other concerns as well. The KYC process, which Pi handles in-house, raises questions about data privacy and legitimacy. If institutions and exchanges don’t trust it, they won't get involved. And without their support, Pi’s growth could stall.

还有其他问题。 PI在内部处理的KYC流程提出了有关数据隐私和合法性的问题。如果机构和交流不信任，他们将不会参与其中。没有他们的支持，PI的增长可能会停滞不前。

In the end, the Pi coin hype is built on a strange mix of potential and mystery. It has millions of users but very little liquidity. It promises decentralization yet remains tightly controlled by a small team. And it talks about utility, but the ecosystem is still in its early stages.

最后，PI硬币炒作建立在潜力和神秘的奇怪组合上。它拥有数百万用户，但流动性很少。它承诺权力下放，但仍由小型团队紧密控制。它谈论了效用，但是生态系统仍处于早期阶段。

So, could Pi coin hit $5? It’s possible, especially if low liquidity continues and interest spikes from key announcements or listings. But whether it stays there—or even deserves to—depends on how much trust the project can earn from the broader crypto community.

那么，Pi硬币可以达到5美元吗？这是可能的，尤其是如果低流动性继续并从关键公告或列表中产生兴趣率。但是，它是否留在那里（甚至值得）取决于该项目可以从更广泛的加密社区中获得多少信任。

For now, it’s a project worth watching but maybe not yet betting your house on.

就目前而言，这是一个值得一看的项目，但也许还没有押注您的房子。