Polkadot ICO

[vlom]

i did not find a thread about this ICO.

https://polkadot.network

TECH:

Polkadot is a heterogeneous multi‑chain technology.

https://polkadot.network/Polkadot-lightpaper.pdf
https://polkadot.io

It consists of many parachains with potentially differing characteristics which can make it easier to achieve anonymity or formal verification. Transactions can be spread out across the chains, allowing many more to be processed in the same period of time. Polkadot ensures that each of these blockchains remains secure and that any dealings between them are faithfully executed. Specialised parachains called bridges can be created to link independent chains.

ICO:

5,000,000 DOT tokens available
DOT price starts high, lowers over time
Everyone pays the lowest price per DOT
15% bonus DOTs for transactions received in the first hour

Do they just collect ETH before the hadfork?
What do you think about the fact that you can't transfer the tokens for two years?

DOTs will be released in the Genesis block - estimated to happen in Q3 2019.

i sent some ETH to the ICO because i think:
the team can deliver something that connects different blockchains and this will be needed in the future.

[jlp]

Read the commentary on Polkadot at:

https://bitcointalk.org/index.php?topic=2243157.0  (on page 1)

[4hajs]

Well, this will be worse than bancor, I don't like this ico at all. For the small guys, I would say just wait for the exchanges (2years) and then decide. If you are a whale, well you can invest if you don't know what to do with your money.

[vlom]

thats a rather good summary your wrote. thats why i quote it here.

Somebody asked me to comment on Polkadot.

The white paper is written by Gavin Wood, founder of Ethereum & Parity. This is obviously a credible developer. It passes my first filter with flying colors. It also passes my second filter.

However, I don’t know if it passes my third filter. It is filled with technical features and functions, but little explanation of the benefits. It wants to connect (bridge) different blockchains, which will enable scaling, which is a good thing. However, to do so would be an incredibly difficult task and I question if Polkadot will be able to pull it off. Hopefully, they’ll prove me wrong.

There is another project that is trying to connect different blockchains together, as well, but I forget the name.

If Polkadot wanted people, other than blockchain developers to understand their project, they should’ve done a better job of explaining the problem(s) that they are trying to solve and the benefits of solving those problems to non-technical people. But, do they need to? I don’t see any info about ICO or token sale. Maybe they have enough money from their ETH holdings that they don’t need funding.

One interesting excerpt from the white paper is this:

Is Polkadot designed to replace (insert crypto-currency here): No. Polkadot tokens are neither intended nor designed to be used as a currency. They would make a bad currency: most will remain illiquid in the staking system and those that are liquid will face substantial fees for transfer of ownership. Rather, the purpose of Polkadot tokens is to be a direct representation of stake in the Polkadot network.

I’m not quite sure how the Polkadot tokens will go up in value. For any token or coin to go up in value, the usage or demand must go up. Bitcoin is going up because people are throwing money into it to store value. Ethereum is going up because people are throwing money into it, in order to buy tokens at ICOs. What will be the fuel for Polkadot?

If it is indeed Gavin Wood running this project, then it is obviously not a scam or crap. It’s just hard to quantify the benefits of holding Polkadot tokens.

Though, there is one minor stain on Gavin. Someone hacked $32 million from Parity. Who hacked it? Was it an inside job?

Why should the DOTS have a value in the future? Because they are needed and they are scarce.

[Crypto_Enthusiast]

Hi!
Thanks for some information about this project, because Polkadot does not have an official thread on Bitcointalk.
I saw the links, ICO is going on, but I did not find the exact start and end dates.
Anyway, they already raised 465,829 ETH.

[publicjud]

I know that some crypto funds like cyber.fund are very interested in this project. I'm pretty sure that their ICO and project will be succeed.

[coingrow]

Although the project is lead by the likes of Gavin who was corr members of the Etherium team, from a technical aspect I could not understand its use case. My rule of thumb is that if I don't get a project, i do not buy into it.

[Febo]

Polcadot is getting  live after almost three years being in the low profile state, while this thread seems to be dead.  Let me see if I can revive it.  Supported by Web3 Foundation Polcadot may secure the core protocol to  integrate and make accessible data from desperate  blockchains. Or you think the networks will be running independently and refuse operate together?

3 years s quite a lot time. Only thing I remember was that some ETH from ICO got locked in some smart contract and whole project was endangered because of lack of founds. That was long ago, does anyone know how was that resolved?

[John565]

Polcadot is getting  live after almost three years being in the low profile state, while this thread seems to be dead.  Let me see if I can revive it.  Supported by Web3 Foundation Polcadot may secure the core protocol to  integrate and make accessible data from desperate  blockchains. Or you think the networks will be running independently and refuse operate together?

3 years s quite a lot time. Only thing I remember was that some ETH from ICO got locked in some smart contract and whole project was endangered because of lack of founds. That was long ago, does anyone know how was that resolved?

I'm not 100% sure but I've though me heard that was around $100 million raised from ICO (in fact not all money but part of them) and affected by the flaw found  in Parity wallet.  Hope  they contacted Parity team and resolved the issue. And even if it doesn't, time proved Polkadot  had enough money to get them into development.

So they raised ~$220 million total in the first ICO October 2017. $140 million of that came in eth (eth price was ~$320) which is now locked and about $80 million came in fiat (CHF). Source: https://techcrunch.com/2017/10/17/polkadot-passes-the-140m-mark-for-its-fund-raise-to-link-private-and-public-blockchains/

They have also sold another half million dots since then for $120 each in a private sale, which gives another $60M in capital. Source here: https://www.coindesk.com/ethereum-co-founders-polkadot-closes-token-sale-claiming-1-2-billion-valuation

In other words, they are very well funded.

[Grumlin]

It's good articles about Polkadot.

What is Polkadot
Kusama & Polkadot
Whitepaper

and about me for validating in Polkadot

[gartmah]

The OKEX exchange today listed polcadot, the DOT / USDT trading pair is available

[alicea]

I didn't invest in Polkadot during ICO but lately, I am seeing a lot of exchanges starting to support the claim of Polkadot's coin DOT some exchanges are even offering incentives if claim DOT on their exchange.

https://mxc-exchange.zendesk.com/hc/en-001/articles/360046100211
https://www.kucoin.com/news/en-kucoin-supports-claim-polkadot?lang=en_US

[DoubleEdgeEX]

I´m glad that this project finally gets some media attention. The work on interoperability is crucial for future developments, like it will be interesting how future CBDC should be exchangable or how some different supply chain blockchains could talk to each others. The fact that a former Ethereum co-founder is heading the team increases my hopes for this company

[investgarant]

There is now a vote to change the total supply and split of 100x is leading, that is, there will be 1 billion DOT, not 10 million.
https://polkadot.js.org/apps/#/poll

[Cyplyakox]

The Binance exchange postpones the listing to August 22, 2020 Polkadot Perpetual Margin Contracts (DOT OSDT), you can choose a leverage of 1x50 https://www.binance.com/en/support/articles/fdbcf19f900c4c45b1e836f5c8da2550?utm_source=BinanceTwitter&utm_medium=GlobalSocial&utm_campaign=GlobalSocial

[Convery]

Those who bought Polkadot and Dfinity tokens in their ICO sales are the luckiest investors. Both projects seem to be the most important coins for 2020 because they could help crypto-industry a lot. Polkadot aims to interconnect all blockchains together. Dfinity is very similar to Polkadot. 

[Nirado]

I didn't invest in Polkadot during ICO but lately, I am seeing a lot of exchanges starting to support the claim of Polkadot's coin DOT some exchanges are even offering incentives if claim DOT on their exchange.

https://mxc-exchange.zendesk.com/hc/en-001/articles/360046100211
https://www.kucoin.com/news/en-kucoin-supports-claim-polkadot?lang=en_US

Kraken is going to list Polkadot tokens  on August 18. Following the result of voting the native DOT token will be redenominated by 100x factor on August 21. Being 3 days ahead of the official redomination event Kraken will add to trading (and staking) DOT token  denominated as New DOT.

"The redenomination simply changes how DOT is defined in terms of its smallest unit of account, the Planck. Before 21 August, the DOT will be denominated as 1e12 Plancks. After this date the DOT will be denominated as 1e10 Plancks, moving the decimal 2 places."

I see now DOT is one of the most popular staking options on Kraken.

[CryptosAnalist]

It is good for polkadot no many people who talk about it on here, so polkadot is still under values and mostly people does not know about the technology behind the blockchain of polkadot, no body know the developer of cryptos come to the blockchain of polkadot.

[Jating]

Those who bought Polkadot and Dfinity tokens in their ICO sales are the luckiest investors. Both projects seem to be the most important coins for 2020 because they could help crypto-industry a lot. Polkadot aims to interconnect all blockchains together. Dfinity is very similar to Polkadot. 

Yes, because that's how crypto works, it's not an easy and straight line, most of the time you really have to wait before you can make a lot of profits. Looking at the thread, it started on 2017, so it's a 3 year hold before you can finally book and withdraw all your winnings.

So this is a lesson for crypto enthusiast, specially that are still in the beginning of their journey, there is no shortcut, you have to have a lot of patience and mental toughness to succeed in this market.

[Beforemember]

I have problem
Trying imported wallet from safepal to trust wallet, but dot address not same
Any solutions