when people see this, they think it’s the same as 1 bitcoin = 1 btc or 1 eth = 1 eth,
but they miss the bigger picture.
pi will be a "stablecoin" based on its internal value of utility. think about it. in other crypto networks, there’s no utility capture of production and value; it all leaks back out to fiat.
people end up selling their bitcoin or eth for fiat because there’s nothing to do with it inside the network (defi is value capture, but it's not circular).
pi, on the other hand, has an economy. you use pi within the network for various things like building, spending, staking, tipping, kyc, validating, and peer-to-peer transactions in real life.
this creates an internal economy of value where, if everyone is using pi for these services, they wouldn’t need to sell into fiat because they can simply spend pi. the value circulates back into the network, making it self-sustaining.
and when that happens, velocity replaces volatility, which removes the speculative nature. this is what PCT has discussed for the longest time: removing speculation.
“velocity replaces volatility”
it makes pi "stable" because everything is priced in pi, not fiat. people will accept pi because of the value it gives them within its ecosystem. there’s no need to ask how much pi is worth. it’ll simply be how much pi is that worth π