Two Egyptian Pi Network users have once again showcased the power of Pi Barter by successfully completing a transaction for a POCO X3 Pro smartphone valued at $300 USD. What makes this transaction even more remarkable is that they managed to exchange the equivalent of just 0.00095 π Picoin, with a mutually agreed upon Global Conversion Value (GCV) of 314,159$.
The two Egyptian Pi Network users, who wish to remain anonymous, agreed upon the exchange rate of 0.00095 π Picoin for the POCO X3 Pro, a mid-range smartphone known for its exceptional performance and features. With the prevailing exchange rate at the time of the transaction, the smartphone was valued at approximately $300 USD.
What truly sets this transaction apart is the agreed upon Global Conversion Value (GCV) of 314,159$. The GCV is a unique concept within the Pi Network, representing the perceived value of an item or service in the global market. It is determined through a consensus among Pi Network users and reflects the community’s trust in the stated value of an item. The GCV of 314,159$ for the POCO X3 Pro is a remarkable show of confidence in both the item’s quality and the Pi Network itself.