BIG questions about polkadot

[Hobo66]

I have some BIG questions about polkadot, I hope someone can answer them.

1. The top 10 richest DOT addresses have more then 1/4 of total DOT supply. I don’t call this a decentralised cryptocurrency because of this reason. But who controls them? Can they create a massive dump whenever they please?

2. How can they offer a +10% staking rewards when already 9/10 of total supply is reached? How is that sustainable? Will staking only be available this year? Will they create more coins out of thin air?

Week ago price was $9.36. But now it became $17+ out of nowhere without any project announcement. So my take on DOT is pump and dump kinda coin. A very risky investment for the long terms.

[Ryushin]

I believe the price pump on DOT is because of its utility, have you checked out all the projects that runs through Polkadot? They are all successful and all eye are on this platform project right now, if you aren't satisfied with their manner of approach or how they handle their project then don't invest

[JeffBrad12]

I have some BIG questions about polkadot, I hope someone can answer them.

1. The top 10 richest DOT addresses have more then 1/4 of total DOT supply. I don’t call this a decentralised cryptocurrency because of this reason. But who controls them? Can they create a massive dump whenever they please?

Im not sure about this but that's probably the team or exchange site's address. You know that if all of the amounts will be collected by exchange the site's address from the users.

2. How can they offer a +10% staking rewards when already 9/10 of total supply is reached? How is that sustainable? Will staking only be available this year? Will they create more coins out of thin air?

Week ago price was $9.36. But now it became $17+ out of nowhere without any project announcement. So my take on DOT is pump and dump kinda coin. A very risky investment for the long terms.

I have been seeing on so many POS platforms if there were tokens that is allocated as the reward for the community. It could be that CMIIW

[Hobo66]

I believe the price pump on DOT is because of its utility, have you checked out all the projects that runs through Polkadot? They are all successful and all eye are on this platform project right now, if you aren't satisfied with their manner of approach or how they handle their project then don't invest

Polka dot will prove to be a good smart chain. Yes you are right all project which are runs through polka dot are all verified and successful. But problem is that not yet all big token project believe in polkadot.
Thats little bit confuae me.

[zasad@]

https://polkascan.io/polkadot/account
I think you should study the topic in more detail.

Part of the funds belongs to the Web3 Foundation.

You can read about the history of the polcadot here:
https://bitcointalk.org/index.php?topic=5272296
Gavin Wood is one of the most respected people in the crypto world.The price could fly to the moon in 2022, when interesting projects start working

[Kemarit]

I have some BIG questions about polkadot, I hope someone can answer them.

1. The top 10 richest DOT addresses have more then 1/4 of total DOT supply. I don’t call this a decentralised cryptocurrency because of this reason. But who controls them? Can they create a massive dump whenever they please?

If they control 1/4 then obviously then can collude with each other to bring the price down, that's possible.

2. How can they offer a +10% staking rewards when already 9/10 of total supply is reached? How is that sustainable? Will staking only be available this year? Will they create more coins out of thin air?

I haven't look at the model though, but yes, it's possible that they can create more coins as this is much as centralized as other coins there.

Week ago price was $9.36. But now it became $17+ out of nowhere without any project announcement. So my take on DOT is pump and dump kinda coin. A very risky investment for the long terms.

That's what altcoin market is, the usually pump-and-dump, and the growth is not sustainable unless we are in a bull run. And many noobs get trap once the price goes down and tank.

[yazher]

I have some BIG questions about polkadot, I hope someone can answer them.

1. The top 10 richest DOT addresses have more then 1/4 of total DOT supply. I don’t call this a decentralised cryptocurrency because of this reason. But who controls them? Can they create a massive dump whenever they please?

2. How can they offer a +10% staking rewards when already 9/10 of total supply is reached? How is that sustainable? Will staking only be available this year? Will they create more coins out of thin air?

Week ago price was $9.36. But now it became $17+ out of nowhere without any project announcement. So my take on DOT is pump and dump kinda coin. A very risky investment for the long terms.

What the top holders are those Top 10? then there is no doubt if one of them decides to dump his DOT in the market the price will sink in the bottom because that's lots of supplies you got there. Yeah! You're right with that reason polkadot is like ripples where they can control the supplies and the price of it in the market whenever they want to. You need to be careful investing in such kind of Altcoins or else you will wake up one day they already dump that 1/4 of total supplies already. to be honest I've been in this kind of situation where I invest in this kind of Altcoin, I figured it out early before they executed their plan, they dumped their coins in a matter of days before it got listed thankfully I sold mine before that.

[RussianEnglishTranslation]

I have some BIG questions about polkadot, I hope someone can answer them.

1. The top 10 richest DOT addresses have more then 1/4 of total DOT supply. I don’t call this a decentralised cryptocurrency because of this reason. But who controls them? Can they create a massive dump whenever they please?

2. How can they offer a +10% staking rewards when already 9/10 of total supply is reached? How is that sustainable? Will staking only be available this year? Will they create more coins out of thin air?

Week ago price was $9.36. But now it became $17+ out of nowhere without any project announcement. So my take on DOT is pump and dump kinda coin. A very risky investment for the long terms.

It looks like scammers marked your thread as a scam for pointing out the facts. I would add that it's my understanding that smart contract functionality is not enabled on Polkadot yet. There are dozens of ghost projects raising funds on Polkadot right now making pie in the sky claims of what they intend to do. Watch out!

[ahoenk]

It is normal situation and i think developer have calculated it how this token and how long it will take to diatributed it all. Its not centralised, the transaction is secured by the nodes which is spreading around the world and it is also normal for DPOS Coin distribution. The people who staking or running the nodes will get their rewards for taking care of the network.