Whales borrowing Pi are taking millions of Pi from lending pools to sell on your behalf.
Thank you to GCV for taking this issue seriously and actively promoting it.
Do not stake Pi on exchanges or use Yu’ebao, as whales are borrowing millions of Pi from lending pools to sell on your behalf.
You invest in Pi hoping for price increases to gain profits. However, the more you stake, the more you enable whales to suppress the price.
Many believe long-term investment means expecting the ecosystem to bear merchants’ costs indefinitely to support the price. Merchants cannot withstand long-term price losses and will eventually exit entirely, causing the ecosystem to collapse.
Like now, if Pi’s price is lower than electricity costs, miners have no reason to pay 1 yuan to the power company for 0.5 yuan worth of Pi.
Smart people know they can buy 1 Pi directly instead of halving their returns. Thus, miners will also collapse, and the ecosystem will die.
Methods to counter whales:
1. Do not stake Pi on exchanges. Do not use Yu’ebao to stake Pi.
2. Drain the exchanges’ lending pools. Convert 1% APY low returns to 34% accelerated mining rewards.
3. Whenever data shows whales borrowing and selling Pi, causing price dips, it’s an opportunity to buy low. Let’s agree to buy at low prices, pull the price up, and make the whales lose money.
Thank you to GCV for also valuing this issue and promoting it vigorously.
Do not stake Pi on exchanges, and do not use Yu’ebao, as whales are borrowing millions of Pi from lending pools to sell on your behalf.
You invest in Pi hoping for price increases to gain profits. However, the more you stake, the more you enable whales to suppress the price.
Many believe long-term investment means expecting the ecosystem to bear merchants’ costs indefinitely to support the price. Merchants cannot withstand long-term price losses and will eventually exit entirely, causing the ecosystem to collapse.
Like now, if Pi’s price is lower than electricity costs, miners have no reason to pay 1 yuan to the power company for 0.5 yuan worth of Pi.
Smart people know they can buy 1 Pi directly instead of halving their returns. Thus, miners will also collapse, and the ecosystem will die.
Methods to counter whales:
1. Do not stake Pi on exchanges. Do not use Yu’ebao to stake Pi.
2. Drain the exchanges’ lending pools. Convert 1% APY low returns to 34% accelerated mining rewards.
3. Whenever data shows whales borrowing and selling Pi, causing price dips, it’s an opportunity to buy low. Let’s agree to buy at low prices, pull the price up, and make the whales lose money.
#pi
Dear Pi friends:
There is an important matter that requires everyone's attention. Please redeem the Pi in your YubiBao accounts because these Pi coins can be borrowed by market manipulators to short-sell and crash the price, causing the coin value to keep dropping. The interest rate in YubiBao is pitifully low, so please don't sacrifice the bigger picture for small gains. My friend had 20,000 Pi in YubiBao, and I called him to redeem it. As soon as he redeemed it, the coin price immediately rose within seconds. Please share this message in all major Pi groups.
On the homepage of the exchange (Figure 1), go to YubiBao. If you have any subscriptions, select "Redeem" (Figure 2). In the assets section, go to Pi and disable the auto-earning feature (Figure 3).
Currently, if the circulating price of Pi on the exchange does not show a stable upward trend, the participation of ecosystem merchants will be affected, and the timeline for open-source development will be delayed. This would render the two-plus years of effort by Mr. Dongfang and the pioneers to build a high-value consensus for Pi meaningless.
From Taiwan, China Pioneer Webber
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