[DOT] Polkadot Speculation

[Danslip]

I have no idea why these new coins are gaining this much traction and investment as the price is increasing considerably high in a short period of time.
I am not following the altcoin market for a long time and i would like to know about attractive projects so that i could invest well during the initial period and cash out once it hits the market like everyone used to do with the ICO craze  .

New projects appearing in the top list every month, there was chainlink in the past and now there are other coins and Polkadot reached the top ten which is surprising as i have not heard anything about it in this forum before the explosion as well as in any other telegram channel.

There is an old saying in Wall Street: If you read the top stocks on the newspaper, it means it is too late to invest. The altcoins with good return rates carry hidden costs and the cost is to have personal research before investing. DOT is on the today's trend but it will disappear with in time,IMHO.

[Shasha80]

I don't know much about this DOT token, but new projects that make it into the top 6 cryptos are an extraordinary thing.
Imagine that DOT can beat several popular coins, such as BNB, LTC and BCH, which is a very good achievement. Moreover,
DOT listing on many popular exchanges, increasingly making DOT a token worth buying. After a few days ago made it to
all time high prices, DOT prices have fallen drastically by -13% nowadays. This is a great time to invest in DOT tokens.
I am sure with the potential of DOT, the price will definitely go up again in the near future.

[peter0425]

If Defi projects continues their Movements then surely like many of them will surely brings Income to all holders.
though we are not sure about these since they have just popped up recently so nothing is certain.Invest at your own risk.
Try to Limit your investment and be aware of other possibilities .
Link on the other hand is doing great also so either of them will be the same future i believe.

[mandor]

Polkadot coin are not very well known to by many people and are now giving a surprise on CoinGecko. I don't really know about this coin and if it this coin is able to rise to the top 6 of the coinmarketcap then it is an appropriate word for a strange phenomenon in the cryptocurrency market. interestingly, this coin is listed on various big is exchanges, that's it is very extraordinary.

[Reatim]

Ooops Looks like DOT is now going Back to where this came from?

Had check the Coinmarketcap and saw this Huge dump https://coinmarketcap.com/currencies/polkadot-new/

After Taking the Highest Price of more than 6$ now the trend and Momentum seems to be leaving and will dump this Coin again back to $2.


Thats why i did Not have even small interest in these kind of Currency like DOT and LINK and other Cryptos that connected to DeFI.

Only the Best and Legit Project will remain and Shitcoin will back for being Shitcoins

[babygun]

Ooops Looks like DOT is now going Back to where this came from?

Had check the Coinmarketcap and saw this Huge dump https://coinmarketcap.com/currencies/polkadot-new/

After Taking the Highest Price of more than 6$ now the trend and Momentum seems to be leaving and will dump this Coin again back to $2.


Thats why i did Not have even small interest in these kind of Currency like DOT and LINK and other Cryptos that connected to DeFI.

Only the Best and Legit Project will remain and Shitcoin will back for being Shitcoins

I can agree with you, that DOT pumped too much in a very short time, so this drop was to be expected. But Polkadot is quite new, but to call it a shitcoin?
It is founded by the cofounder of Ethereum and have some nice features (+ they offer staking of 12%).
All those DeFi projects like Sushicoin and others, these are shitcoins.

[qwizzie]

Ooops Looks like DOT is now going Back to where this came from?

Had check the Coinmarketcap and saw this Huge dump https://coinmarketcap.com/currencies/polkadot-new/

After Taking the Highest Price of more than 6$ now the trend and Momentum seems to be leaving and will dump this Coin again back to $2.


Thats why i did Not have even small interest in these kind of Currency like DOT and LINK and other Cryptos that connected to DeFI.

Only the Best and Legit Project will remain and Shitcoin will back for being Shitcoins

I can agree with you, that DOT pumped too much in a very short time, so this drop was to be expected. But Polkadot is quite new, but to call it a shitcoin?
It is founded by the cofounder of Ethereum and have some nice features (+ they offer staking of 12%).
All those DeFi projects like Sushicoin and others, these are shitcoins.

Doing a redenomination of the original sale so soon after launch, just to increase in marketcap and rank on coinmarketcap is a despicable practice.

https://coinmarketcap.com/currencies/polkadot-new/
https://coinmarketcap.com/currencies/polkadot-old/

This page refers to New Dot which is 100x smaller than DOT (OLD) On 21 August 2020 at 16:40 UTC (block number 1,248,328), the DOT token underwent a redenomination
from its original sale. New Dot are 100x smaller than DOT (OLD). There is no difference between New Dot and DOT (OLD) except for their denomination.

Very very bad move.
And an equally bad move from coinmarketcap for just going along with it.

Redenomination of an already existing coin is something i would never trust in a coin.
No wonder it is getting dumped hard (-29%).

[Hermingway]

strange phenomena continue to appear on the cryptocurrency market.

I want to know your opinion about this cryptocurrency, just launched a few days and has entered the top 7 ranking on Coingecko.

https://www.coingecko.com/en/coins/polkadot
https://www.worldcoinindex.com/coin/polkadot
https://coinmarketcap.com/currencies/polkadot-new/markets/

About Polkadot: https://polkadot.network

DOT seem to be a good project. I have been following up with their developments lately and I am highly impressed. Just recently, https://ChangeNOW.io exchange becomes the first non-custodial and instant exchange to list DOT. I am looking forward to buying some.

[Silberman]

DOT [Polkadot] had just another moon. Everyone is bullish on DOT so that should be what you buy. Honest to say i've no words but sometime it's good practice follow the trend just to get some quick money. If your just invested.

When everyone is bullish, isn't it better to start looking for an entry point for the short ? I like DOT, but market cap is already 6 billions.

And after just one week you were proven right, we are currently watching a drop of 40% in a single week for DOT and a drop of 22% just today which is massive, can you imagine all of those people that we are trading this coins using leverage? Anyone that used a 5x leverage and did not used a stop loss has been wiped out, let this be a reminder for those that are interested in the market, if a coin is going up very rapidly then chances are that an even faster crash is approaching and instead you should look for opportunities to short the coin.

[seven.71]

DOT [Polkadot] had just another moon. Everyone is bullish on DOT so that should be what you buy. Honest to say i've no words but sometime it's good practice follow the trend just to get some quick money. If your just invested.

When everyone is bullish, isn't it better to start looking for an entry point for the short ? I like DOT, but market cap is already 6 billions.

And after just one week you were proven right, we are currently watching a drop of 40% in a single week for DOT and a drop of 22% just today which is massive, can you imagine all of those people that we are trading this coins using leverage? Anyone that used a 5x leverage and did not used a stop loss has been wiped out, let this be a reminder for those that are interested in the market, if a coin is going up very rapidly then chances are that an even faster crash is approaching and instead you should look for opportunities to short the coin.

price decline of almost all altcoins due to the breakdown of the DEFI bubble and it is clear, not only DOT but I am happy that everyone will return to the original coin, not with tokens wrapped in DEFI which is hype / bubble
market principle the greater the volume the bigger it will fall

[bitcampaign]

I don't know what's interesting about this altcoin, it looks like they have a full level of confidence so that many investors are pushing the price this high, to be honest it's too expensive for now, even though the price has dropped since a few days ago, but I want to see it when it's below $ 1

[seven.71]

I don't know what's interesting about this altcoin, it looks like they have a full level of confidence so that many investors are pushing the price this high, to be honest it's too expensive for now, even though the price has dropped since a few days ago, but I want to see it when it's below $ 1

Polkadot's price is still cheap, maybe people don't know enough about them, but the crypto community has known Polkadot for a long time, and what you need to know is that Polkadot was built in 2017 and has only been released now.

[babygun]

-snip

Doing a redenomination of the original sale so soon after launch, just to increase in marketcap and rank on coinmarketcap is a despicable practice.

https://coinmarketcap.com/currencies/polkadot-new/
https://coinmarketcap.com/currencies/polkadot-old/

This page refers to New Dot which is 100x smaller than DOT (OLD) On 21 August 2020 at 16:40 UTC (block number 1,248,328), the DOT token underwent a redenomination
from its original sale. New Dot are 100x smaller than DOT (OLD). There is no difference between New Dot and DOT (OLD) except for their denomination.

Very very bad move.
And an equally bad move from coinmarketcap for just going along with it.

Redenomination of an already existing coin is something i would never trust in a coin.
No wonder it is getting dumped hard (-29%).

Timing wise, the move was not ideal, but I can understand the redenomination. In fact, in my eyes, you can compare it with companies that do a stock split (i.e. apple, tesla).
Price is right now hovering between 4.3 and 4.8$, let's see what happens when we are in a bull market again.

[qwizzie]

-snip

Doing a redenomination of the original sale so soon after launch, just to increase in marketcap and rank on coinmarketcap is a despicable practice.

https://coinmarketcap.com/currencies/polkadot-new/
https://coinmarketcap.com/currencies/polkadot-old/

This page refers to New Dot which is 100x smaller than DOT (OLD) On 21 August 2020 at 16:40 UTC (block number 1,248,328), the DOT token underwent a redenomination
from its original sale. New Dot are 100x smaller than DOT (OLD). There is no difference between New Dot and DOT (OLD) except for their denomination.

Very very bad move.
And an equally bad move from coinmarketcap for just going along with it.

Redenomination of an already existing coin is something i would never trust in a coin.
No wonder it is getting dumped hard (-29%).

Timing wise, the move was not ideal, but I can understand the redenomination. In fact, in my eyes, you can compare it with companies that do a stock split (i.e. apple, tesla).
Price is right now hovering between 4.3 and 4.8$, let's see what happens when we are in a bull market again.

I never heard of a company doing a stock split a year after launch. Anyways, doing a redomination this early on in a crypto project's lifetime  is just shady behavior. It has damaged its reputation.

[Fredomago]

I don't know what's interesting about this altcoin, it looks like they have a full level of confidence so that many investors are pushing the price this high, to be honest it's too expensive for now, even though the price has dropped since a few days ago, but I want to see it when it's below $ 1

Polkadot's price is still cheap, maybe people don't know enough about them, but the crypto community has known Polkadot for a long time, and what you need to know is that Polkadot was built in 2017 and has only been released now.

That's long enough to established good foundations. I'm not really familiar with this project but seems to me that there are many investors and traders who already invested to this coin, as  the data  from CMC state that it's already inside top 10.

You need to have more deeper knowledge if you are interested to invest with this coin in order to have better assessment on where to place your entries.

[seven.71]

-snip

Doing a redenomination of the original sale so soon after launch, just to increase in marketcap and rank on coinmarketcap is a despicable practice.

https://coinmarketcap.com/currencies/polkadot-new/
https://coinmarketcap.com/currencies/polkadot-old/

This page refers to New Dot which is 100x smaller than DOT (OLD) On 21 August 2020 at 16:40 UTC (block number 1,248,328), the DOT token underwent a redenomination
from its original sale. New Dot are 100x smaller than DOT (OLD). There is no difference between New Dot and DOT (OLD) except for their denomination.

Very very bad move.
And an equally bad move from coinmarketcap for just going along with it.

Redenomination of an already existing coin is something i would never trust in a coin.
No wonder it is getting dumped hard (-29%).

Timing wise, the move was not ideal, but I can understand the redenomination. In fact, in my eyes, you can compare it with companies that do a stock split (i.e. apple, tesla).
Price is right now hovering between 4.3 and 4.8$, let's see what happens when we are in a bull market again.

I never heard of a company doing a stock split a year after launch. Anyways, doing a redomination this early on in a crypto project's lifetime  is just shady behavior. It has damaged its reputation.

The reason they are doing redomination is to follow the current trend, at the beginning they considered the supply in the amount of 10 million to be ideal, but in its development there were negative impacts besides that they wanted to keep their network wider so that the wider community could participate in the Polkadot network, one more thing at least we cannot equate Crypto with issuers like Tesla which have products in the real world so that we can measure how the company is worth investing in or not.

[cepot9]

This project is strange enough for me but also quite interesting, it is likely that I will start getting in with some funds when the DOT drops to $3 or below.

[Sirait]

https://twitter.com/chainx_org/status/1306641291187384320

ChainX and GXChain have teamed up with Polkadot, I think *maybe this will make Polkadot's price go up.

This project is strange enough for me but also quite interesting, it is likely that I will start getting in with some funds when the DOT drops to $3 or below.

I also thought so, at first I felt strange but I became more studying this project, the decision comes back to you and invests at your own risk.

[Sirait]

^ currently Polkadot is ranked 4th. https://coinmarketcap.com/currencies/polkadot-new/ what do you think about the potential for Polkadot to be ranked 3rd?

[Severine]

Polkadot has quickly risen in the ranks of top projects because of the ability of the para chains to issue its tokens,  kind of similar to Ethereum-based protocols.