Pi Network’s Global Consensus Value (GCV) has been a topic of debate among the community, more famously known as Pioneers. Some even claim it was pre-programmed into the code.
However, a prominent Pioneer has debunked these claims, criticizing GCV as the ‘main problem with the Pi Network.’
$314,159 for PI? The Mystery Behind Pi Network’s GCV Debate
For context, GCV is a community-proposed valuation of $314,159 per Pi Coin (PI). Some Pioneers (GCV community) believe this price point should be adopted for PI transactions, reflecting a symbolic nod to the mathematical constant π.
The ideology has garnered widespread support across various regions. These include countries such as Vietnam, Thailand, India, the Philippines, Indonesia, China, and regions in Africa and the Middle East.
“Pioneers must understand this: Like it or not, we have currently implemented dual value for Pi. The GCV community buys Pi on the exchanges, then transacts goods and services with the GCV value. The funny thing is, when there is a dual value Source Code on GitHub, many said it was impossible. They said dual value was dangerous, but they did it,” a GCV ambassador, Dimas Nawawi, posted.
These GCV leaders have championed this valuation, arguing that it distinguishes ‘Pure Pi’ from those purchased on external exchanges. They point to references in GitHub repositories as evidence of GCV’s integration into the network’s infrastructure.
“Financial Institutions will implement Banking Contracts with GCV value. They will map ‘Pure Pi’ in your Wallet. Financial Institutions will value your Pi from exchanges in different ways,” Nawawi added.
Nonetheless, these assertions have been sharply contested. A notable pioneer, known online as Mr. Spock, argued that the narrative surrounding GCV is misleading and detrimental. He also called the GCV code theory a ‘scam.’
To prove his point, he created additional custom code on GitHub to demonstrate that such modifications are arbitrary and do not reflect official network protocols.
“GCV “ambassadors” = master manipulators in PiNetwork. Mislead newbies with meaningless GitHub code hype. Pushed a fake $314,159 price of 1 PI with zero liquidity. Reality? The real price is on CEX AND Onramps, where both KYB-approved by the official Pi Core Tea, even added a Buy button in the wallet at the real price. Also, Dapps which shifting/shifted to Mainnet only accepts with real price which has real liquidity & demand! Yet people still fall into the GCV trap,” another Pioneer highlighted.
Furthermore, Mr. Spock emphasized that the expectation of PI reaching extremely high values, like $314,159, is unrealistic, especially given the daily unlocking of millions of PI. He explained that many GCV pioneers hold small amounts of PI and believe they are already wealthy.
Thus, they are not contributing to the network’s growth by purchasing more PI at the current price.
“Pi will not magically reach $314,159 that could take over 20 years to achieve. They are not buying Pi at $0.40 because they believe they are already rich, and they say that’s not real Pi…Please, Pi Core Team, I’m getting tired of uneducated people who have been brainwashed into believing we are rich by mining only 5 Pi, and who are not helping the real Pi as its price crashes near $0,” the Pioneer noted.
Meanwhile, Mr. Spock’s concerns are not without basis, considering PI’s price is steadily decreasing. BeInCrypto Markets data revealed that Pi Coin has dropped 18.8% over the past month.
Last week, the altcoin recorded a new all-time low of $0.33. At the time of writing, Pi Coin’s trading price was $0.37, down 7.33% over the past day.
The post The GCV Debate: Did Pi Network’s Code Always Plan for $314,159 Price? appeared first on BeInCrypto.
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Kamina Bashir
https://beincrypto.com/pi-network-gcv-code-debate/
2025-08-12 10:37:00
