How does Polkadot crypto come to 7th position? is a scam?

[judeafante]

Polkadot was created by Ethereum co-founder Gavin Wood. This does not look like just another money grab to me. I think they are trying to build a better smart contract platform.

People are attracted and likely to support projects that are run or managed by reputable developers than unknown developers and since Gavin Wood is behind this, it's not surprising that it is generating support, I will not consider this as a scam because it's still a work in progress and although there is a huge drop, it's not the only one dropping majority are dropping, let them prove themselves why they are on the top 10.

[sangjoewara]

Polkadot was created by Ethereum co-founder Gavin Wood. This does not look like just another money grab to me. I think they are trying to build a better smart contract platform.

If Polkadot was created by one of the Ethereum founders it means that the two of them will not compete directly with each other, but the competition will occur indirectly in the market when Polkadot is listed on the market.

[Bossfidelity]

I was surprised when I got to see the performance of polkadot project in recent times. The project no doubt has been doing so well, but that doesn't warrant its being tagged a scam. What determines how successful a project could be is much more than acceptability and duration of existence. DOT token in my opinion is a good project and worth considering for hold.

[ethereumhunter]

I am a bit surprised to see that coin can replace the other position because, as newcomers in the crypto world, that coin can lift the position. And with the price is not too high to buy, I think this coin has attracted people to invest in that coin. But related to the scam, I don't have any idea if the dot will end as the other scam coins. We just need to be careful if we decide to invest in the dot, and make sure that you already research the project. I think if that coin can still increase at the market, maybe the position will be lifted too.

[shoreno]

Polkadot was created by Ethereum co-founder Gavin Wood. This does not look like just another money grab to me. I think they are trying to build a better smart contract platform.

If Polkadot was created by one of the Ethereum founders it means that the two of them will not compete directly with each other, but the competition will occur indirectly in the market when Polkadot is listed on the market.

Did the guy said that officially ? If not then there could be a different story why he created dot . I have witnessed a story before were a worker betray thier co workers or they were treated badly with their co workers resulting for them to quit and build their own creation . Maybe that story can also apply to them  . And also what do you mean by indirect competition ?  The coin is already at the 7th place and soon itl pass the position of eth or worst btc . That looks like a real competition we got here

[Furious 7]

I believe Polkadot is a coin that attracts even some investors are already convinced of this coin but will this coin end up in a scam?  I don't think so and let's prove this coin I am sure will be very interesting in the future

[justdimin]

I can't call it scam because I am not part of the team and only the team knows if they are scamming people or not, and not like they will come out and say that they are scamming people neither, which means we could never know until it scams people. But I can say that they are actually working on something, they are really putting an effort on it, do they deserve to be that high?

I believe they shouldn't be, they are definitely a top 50 coin easily, could even be said top 30 or so as well, but top 10? I am not entirely sure and probably will go down anyway. However just because they go down a bit, to like 20th or whatever doesn't mean they are bad, it just means there is a hype around it now that will die down, even if they are totally legit and keep working on it.

[casperBGD]

I believe Polkadot is a coin that attracts even some investors are already convinced of this coin but will this coin end up in a scam?  I don't think so and let's prove this coin I am sure will be very interesting in the future

agree, i would not call it a scam, since there is a lot that Polkadot is here to offer, team is having some popular crypto members, that were part of Ethereum community, and overall, the project exist for several years, but would not hit the exchange until now, i presume that was due to bear market and they were trying to get fair price for the token, which is good thing
of course, one should do their own analysis before investment, but Polkadot sounds good to me, not as a scam

[TastyChillySauce00]

It could go up to 7th rank simply because people think it's worth that much and not to mention that one of the dev is Ethereum co-founder which kinda guarantees that this project is not exist only for raising money but to bring even better innovation than ETH.
The hype builds around polkadot until now I think is enough to make us as an average joe think that this project is definitely a promising one and definitely not a scam. There are also many publications regarding this project on the net so yeah, pretty much self explanatory.

[Henrytrust]

I'll love to know more about this polkadot tokens that is getting more recognition in the cryptocurrency market. I noticed that we have both old and new dot tokens trading in some exchange. I really don't understand how come such a new project is having multiple coin. I only hope that the project would not end up being scam like several others we've seen lately.

[darktor]

IMHO, I think its too early to say any conclusion about Polkadot token's sudden rise of price and CMC ranking. and it's very hard to distinguish now which is the genuine or fake because the market has thousands of listed cryptocurrencies and you need to check it carefully and it takes time, so let us conclude that the community behind Polkadot is very supportive thats why they are gaining such momentum, for now, but it doesn't mean that they will stay in that ranking forever.  

The number of coins is getting to big :p Just remember the days when there were just a few altcons. It was a lot easier to pick the most promising coins. Now it became a jungle of coins.

The competition is getting extremely difficult today, it misses the days before it was so easy

[asriloni]

Redomination that happened with pokadot has already made this one entered the top 6 CMC.

I have owned the old DOT and it has already swapped into the new dot. After the swap and the launch of DOT main net the price of DOT is also getting increase drastically and that was also pumping the total market capitalization that has already reached by the DOT too.

Some new platforms are also helping the DOT platform to get the hype by started to use the parachain as the tokenization on the DOT platform too. This is not a scam platform. I could say this one is legit.

[djmixen]

DOT for me is okay and it's one of the good to buy now in the market because I know for sure that in the future it will bounce to its original price when it was started before. Especially now the price so far was 4$ something each token of DOT, then hold in the long term. I had no doubt about polkadot due to at the moment it was improving actually.

[xOdiumNostrumx]

It may seem like a scam or a pump and dump scheme, but only if you did not pay attention for the past few years and it didn't come from nowhere as it has been in development for years. Its ecosystem is growing constantly, so I am pretty sure Polkadot is here to stay and it will be one of the biggest infrastructures in crypto as well.

[Jackl87]

Polkadot is definitley not a scam. I think it has the potential to be a top 5 coin in the longterm.
It's a multichain project that aims to connect different blockchains.
If you look at the most recent projects that launched and are part of the polkadot ecosystem, then you will see that they all did well price-wise.
I already regret that i don't own any DOTs 

[sayulita]

I believe Polkadot is a coin that attracts even some investors are already convinced of this coin but will this coin end up in a scam?  I don't think so and let's prove this coin I am sure will be very interesting in the future

Polkadot is having a really good future and I think that it is going to replace the coins that we are already using and also that it is going to be much better than those coins. On the other hand I am also unable to understand how it reached this position, it is a really amazing win for the team where they are able to gain so much reputation in so less amount of time, price is right now just like the earlier days of ethereum coin where it used to be hovering around $8 before watching that huge pump at the time of ICO hype.

[Coin-Behind-You]

polkadot is not a scam project, because in my opinion gavin wood is making develop polkadot very seriously, especially polkadot tokens are currently on the rise because many tokens associated with polkadot always increase when the token has started trading and also creates hype, and I have no doubt that next year many projects will use platform from polkadot to generate tokens to replace ethereum (erc20).

[cabron]

polkadot is not a scam project, because in my opinion gavin wood is making develop polkadot very seriously, especially polkadot tokens are currently on the rise because many tokens associated with polkadot always increase when the token has started trading and also creates hype, and I have no doubt that next year many projects will use platform from polkadot to generate tokens to replace ethereum (erc20).

We will have to wait till someone finally will take a lense to check its details whether the project will realy suvive in the decentralize market. Once its price drop down to $1, many of its investors will jump to conclude its a scam. Is anyone seeing this DOT to be centralized?

This project said to be forkless and base on what I read the team doesn't have to fork to upgrade something. It cold be because its using sharding and its also using tons of blockchain on it mix together.

[Fredomago]

I believe Polkadot is a coin that attracts even some investors are already convinced of this coin but will this coin end up in a scam?  I don't think so and let's prove this coin I am sure will be very interesting in the future

Polkadot is having a really good future and I think that it is going to replace the coins that we are already using and also that it is going to be much better than those coins. On the other hand I am also unable to understand how it reached this position, it is a really amazing win for the team where they are able to gain so much reputation in so less amount of time, price is right now just like the earlier days of ethereum coin where it used to be hovering around $8 before watching that huge pump at the time of ICO hype.

More on the side of those investors who risk their money for this project to reach that position.

Most of the time when project showed good potentials investors buy the hypes and and start to follow the project, same
with what happened to this coin, it reached the ranks because there are now a good communities supporting the development.

[SquallLeonhart]

If something was an obvious scam it could never reach 7th position in rankings, there is no way that people would invest into a known scam that much, people would sell everything they own and get out as quickly as possible. However this doesn't mean they are not scam neither, they could very well be one but people just don't know about it and that's it, in the future it could turn out that it was a scam all along.

Putting all this into a mixer, we get ourselves a coin that is either so good that we are already too late to get in, or we have ourselves a coin that will drop significantly very soon. Both of which means I am not going in right now because there is really no upside to it at all for me, I am already too late and why risk it when I can't be the one who could gain from it?