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

[FinneysTrueVision]

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.

Bitconnect was once #6.

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[ampu]

Polkadot is a real project and its current position is a recognition of its value. Can not conclude scam here because Polkadot has a specific product like other TOP 10 projects. It is possible that Polkadot's capitalization is high because of the hype but I firmly believe that in the future the market will purify itself and put Polkadot in the right position.

[RealMalatesta]

It is now 6th and I feel like that is not really enough to make it look legit. I know that it moves up and that makes it look like it could actually be something serious and I understand the logic behind a coin looking high could mean it is a good one as well but it is not about being in the top 10 when you start, it is about being in top 10 all the time and polkadot has to show the world that it actually worths that top 10 price only if they could continue to stay in that top 10 for over a year or two, if they could actually hang in there for over a year and close to two, that means they actually deserve that place, however if slowly over time it starts to fall and becomes something that is not worthy, it will become less and less valuable and price will fall.

[luckyflop]

Polkadot is a rocket Fire
Hope they will prosper in the future so they can develop crosschain trend and integrate with other cool players like
Equilibrium

[naomi-the-cat]

Just another one project with good marketing and idea. Unlikely to be a scam as for me

[PalindromemordnilaP]

I find redenominations very shady, specially when done only a year after launch. Means the devs are either incompetent to do a redenomination so soon after launch,
or they just wanted the marketcap and rank increase for free marketing. Either way it is bad practise.

Bruh, Polkadot devs had nothing to do with DOT redenomination as Polkadot uses a sophisticated governance mechanism that allows it to evolve gracefully over time at the ultimate behest of its assembled stakeholders. With that being said, the redenomination is made by the token holders through votation and not by devs' decision which is something that some high profile cryptos are lacking - governance.

You can read the outcome of the DOT redenomination as it shows the split of 100x of DOT's original total supply. With this result, i don't see any "shady" or "bad practise" as oppose to what you are saying, IMHO.

[g_man_g]

Bra, unfortunately dot has inflation rate of more than 13% and a shady history. Another pump and dump scheme from a former developer of a respected project. https://messari.io/asset/polkadot/metrics

[Baimovic]

not all cryptos are reliable or have a good future, in most cases there may be only a few, but only Bitcoin and ETH are proven. associated with Polkadot is a little familiar, I used to hear rumors that this project is a SCAM. but what we see is that Polkadot can reach the top 10 in CMC

[FlagstaffRevel235]

Polkadot is certainly not a scam project. Because the founder of Polkadot is Gavin Wood, who is the co-founder of Ethereum. Polkadot's smart contact, whitepaper, mission, and vision have attracted people. That's why people have accepted Polkadot very easily. I don't think Polkadot is a stable coin.

[fmz89]

I would like to have your opinions

Coinmarketcap:
https://coinmarketcap.com/en/currencies/polkadot-new/
Website:
https://polkadot.network/

Polkadot How does this crypto coming out of nowhere appear in 7th position even though it was in 5th or 6th position when it is currently going down? it's a Pump and dump.

Or is it a crypto that will one day be reliable with a good future
is it a standalone crypto that has not been launched on ethereum?

lol so why do you thing polkadot is scam, you must be new here,

dot crowdfunding already from mid 2017 and the listing are q4 2020, the project lead & created by ethereum co-founder DR. Gavin Wood

this year it will be at third position after ethereum no doubt about that  

[Travel Standard]

Polkadot is real, legit and future of cryptocurrency. It will be in number 3 position soon. The project under PolkaDot are extremely best. Price will go up with big difference in future.
There is nothing to be scam.

[Balladtony77]

We are in a craze world mate where anything is bound to happen, I've seen some coins years ago that are topping the chart on coinmarketcap and after some months things start going side ways, I'm not saying Polkadot will end like that though but invest only what you can afford to lose, that's what better

[noormcs5]

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.

Bitconnect was once #6.

Bitconnect was a big scam and a lot of people lose money in that project. On the other hand Polkadot is a very good project and some people are of the view that one day it will replace Ethereum.
Polkadot already reached in top 5 crypto currencies. Recently it's price has reached 20$ and in coming days i can see DOT being traded at 100$ or more.

[Kvalentine]

Polkadot is different, you can't earn top rank on coinmarketcap today with just hype only like in 2016-2017, if you watch bitconnect and Polkadot use cases side by side you will instantly notice the difference, Polkadot is huge and it's usefulness is what get it to the position

[jessyj48]

Polkadot is different, you can't earn top rank on coinmarketcap today with just hype only like in 2016-2017, if you watch bitconnect and Polkadot use cases side by side you will instantly notice the difference, Polkadot is huge and it's usefulness is what get it to the position

Getting on top rank on coinmarketcap is pretty hard but maintaining the position after several months or years is even harder, I hope Polkadot won't be like some altcoins that quickly rise up in rank and later lose the rank again, I can see the potential but I do hope it keeps things like that

[matchi2011]

Polkadot is different, you can't earn top rank on coinmarketcap today with just hype only like in 2016-2017, if you watch bitconnect and Polkadot use cases side by side you will instantly notice the difference, Polkadot is huge and it's usefulness is what get it to the position

Getting on top rank on coinmarketcap is pretty hard but maintaining the position after several months or years is even harder, I hope Polkadot won't be like some altcoins that quickly rise up in rank and later lose the rank again, I can see the potential but I do hope it keeps things like that

If development will continue there's a high chance that this project will stay with it's current position, the hardship of maintaining
your place around is very important.

Polkadot developers and supporters needs to continue working together in order to gather more support and to maintain the current
rank, the more supporters the more the value  will stay strong.

[Squezzi55]

Polkadot is different, you can't earn top rank on coinmarketcap today with just hype only like in 2016-2017, if you watch bitconnect and Polkadot use cases side by side you will instantly notice the difference, Polkadot is huge and it's usefulness is what get it to the position

Getting on top rank on coinmarketcap is pretty hard but maintaining the position after several months or years is even harder, I hope Polkadot won't be like some altcoins that quickly rise up in rank and later lose the rank again, I can see the potential but I do hope it keeps things like that

That's a fact, many projects rises and fall because they can't keep up with good development plans but Polkadot is more prepared than that, many new projects are running through polka network today and some are even gearing up to join the crew, I believe this is just the beginning for Polkadot fame, not a investment advice though, this is just my own inner mind talking

[speedforce]

Polkadot is real, legit and future of cryptocurrency. It will be in number 3 position soon. The project under PolkaDot are extremely best. Price will go up with big difference in future.
There is nothing to be scam.

Agree, but why in rush to take higher position, if the community getting stronger, and the developing progress going well. The price and marketcap will follow to increase, right?
But at the moment i think the price mostly because FOMO and can go dip at any moment.

[zasad@]

Polkadot is not going to compete with Ethereum. Polkadot is a low-fee cross-chain platform that will be compatible with many blockchains.
Read this news.
https://cryptobriefing.com/cross-chain-indexes-coming-polkadot-with-launch-stp-2-0/
Cross-Chain Indexes Coming to Polkadot With Launch of STP 2.0
I think next year it will be a new hype in cryptocurrency.

[Shallow]

Polkadot is pulling great weight nowadays and has risen to a very high rank in coinmarketcap and that can only be achieved through hard work, because it has succeeded in overthrowing a lot of prominent coins. Also, it is quite true that a lot of coins has done that before like EOS while much is not heard about them, However in the case of Polkadot, it seems to be a different case as it offers great services which has made some projects both new and existing to consider utilizing their platform. Thus, in my own opinion, Polkadot is not a scam, but a reliable crypto with good future, and in as much as the team continues working hard then they will be able to maintain a good position on coinmarketcap. Lastly, you should know that one of the factors that pushes a coin to top rank in coinmarketcap is the community, how strong the community is will play a big role in keeping the coin valuable.