The logic of staking π coins to apply for a card:
1. Both the Ministry of Public Security and Xinhua News Agency have issued announcements on preventing cryptocurrency scams, which at least shows that the national government does not recognize this thing, or has clearly told everyone that this is a scam.
·2. Currently, all the news about the card application is spread by some bad anchors, and the government has not made any official statement.
3. Banks will not participate in virtual currency transactions, which is illegal in China, and banks will not take the risk of challenging the government's authority.

·4. Before the value of Pi coins is determined, banks and consortiums will not purchase Pi coins. The current so-called "millions of dollars per coin" is just a consensus price.
5. The so-called "super-sovereign currency" is more like a joke. No country will put its own currency on a virtual currency, which is tantamount to seeking death.
6. It takes tens of millions of funds to pledge a card. According to the anchor, there are about 30 million miners in China. If each miner needs to pledge 10 million π coins, then China's GDP is not enough to pay for this fee. This will seriously affect the normal operation of the government and infrastructure construction.

7. Pi coin was invented by an American and its purpose is to raise funds in China, which sounds incredible.
