Can Polkadot (DOT) coin can be the next Ethureum or Bitcoin?

[Meuh5598i]

Hello Good Folk,
I have been a little bit far away from the crypto world. it seems a lot has changed since. I want to invest in Polkadot, which refers to the DOT coin. Please give your valuable suggestion, if that has the potential to grow. I am looking for your valuable opinion as I am trying to build a portfolio of my investments. As I have mentioned, I was far away from the crypto world, please fill me in with your good advice and suggestions.  

This information was gathered from ref: https://www.coingecko.com/en/coins/polkadot  for a better understanding, I try to collect and give a summary with the hope of getting help and your valuable suggestion. Please be my devil's advocate and help me to show the way.

What i am looking for is Atleast 10x return within the timespan of a year.



What is Polkadot?



Polkadot is a Layer-0 open-source blockchain platform and cryptocurrency that allows multiple blockchains to connect and operate within itself. It allows protocols and blockchain to share their unique features while pooling their security. In brief, Polkadot is a scalable heterogeneous multi-chain technology.

Polkadot is heterogeneous because it is entirely flexible and makes no assumption about the nature or structure of the chains in the network. Even non-blockchain systems or data structures can become parachains if they fulfill a set of criteria.

Polkadot may be considered equivalent to a set of independent chains (e.g., a set containing Ethereum, Ethereum Classic, Namecoin, and Bitcoin), except with important additions: pooled security and trust-free interchain translatability.
Who founded Polkadot?

Gavin Wood, Robert Habermeier, and Peter Czaban founded Polkadot, Web3 Foundation's flagship protocol. Wood is a prominent figure in the blockchain industry, having co-founded Ethereum and Solidity. Habermeier was a Thiel Fellow with a background in blockchains and cryptography, while Czaban brings experience in fintech.
How does Polkadot work?

Polkadot’s architecture includes a central Relay Chain with non-native blockchains running on top of the network called Parachains. The Relay Chain handles the network’s security, consensus, and interoperability, secured using a Nominated Proof-of-Stake (NPoS) consensus model. Many parachains are written using the Polkadot Runtime Environment SDK, which allows developers to create their own parachains to operate on the Polkadot network.

There are many types of parachains each specialised for its own uses cases, such as:

    System parachains, which uses Polkadot’s native token, DOT
    Bridge parachains to connect to external network like Kusama, Polkadot’s Canary Network
    Smart contract parachains for hosting EVM dApps.

Polkadot 2.0

In Polkadot 2.0, Polkadot will migrate from a chain-focused ecosystem to an application-focused ecosystem. This means instead of owning an execution core at all times, each parachain will need to reserve and purchase blockspace based on their needs. The coretime marketplace model is expected to lower the entry barriers for developers.
What is the DOT token?

As Polkadot’s native token, DOT holders have governance rights to guide the operations of Polkadot DAO. They can also contribute to the network’s security through staking. New parachains are added by bidding DOT tokens through auctions. In the Polkadot 2.0 update, DOT tokens can be used to buy coretime.
Where can you buy Polkadot?

DOT tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Polkadot is Binance, where the most active trading pair DOT/USDT has a trading volume of $19,121,058 in the last 24 hours. Other popular options include WhiteBIT and HTX.
What is the daily trading volume of Polkadot (DOT)?

The trading volume of Polkadot (DOT) is $193,150,127 in the last 24 hours, representing a -16.00% decrease from one day ago and signalling a recent fall in market activity.
What is the all-time high for Polkadot (DOT)?

The highest price paid for Polkadot (DOT) is $54.98, which was recorded on Nov 04, 2021 (almost 3 years). Comparatively, the current price is 92.88% lower than the all-time high price.

What is the all-time low for Polkadot (DOT)?

The lowest price paid for Polkadot (DOT) is $2.70, which was recorded on Aug 20, 2020 (about 4 years). Comparatively, the current price is 45.22% higher than the all-time low price.
What is the market cap of Polkadot (DOT)?

Market capitalization of Polkadot (DOT) is $5,610,034,425 and is ranked #21 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of DOT tokens (1.4 Billion tokens are tradable on the market today).

What is the fully diluted valuation of Polkadot (DOT)?

The fully diluted valuation (FDV) of Polkadot (DOT) is $5,927,114,302. This is a statistical representation of the maximum market cap, assuming total number of 1.5 Billion ETH tokens are in circulation today.

How does the price performance of Polkadot compare against its peers?

With a price decline of -2.50% in the last 7 days, Polkadot (DOT) is underperforming the global cryptocurrency market which is up 2.40%, while underperforming when compared to similar GMCI 30 Index cryptocurrencies which are up 0.00%.

For more information plz visit: https://www.coingecko.com/en/coins/polkadot

[hugeblack]

NO, Polkadot (DOT) failed to be an alternative to Ethereum, the value of the coin has dropped sharply and it is difficult to compete to be in the top10, so how can it be an alternative to Ethereum and Bitcoin?

[Sim_card]

Polkadot may be considered equivalent to a set of independent chains (e.g., a set containing Ethereum, Ethereum Classic, Namecoin, and Bitcoin), except with important additions: pooled security and trust-free interchain translatability.

No coin can be an equivalent to bitcoin because they can never have the same potential, and you shouldn't use a centralized project with a decentralized one. Bitcoin has gained trust by the community and has great potentials which makes me think that it looks dumb to feel that Polkadot is worth seeing as an equivalent, when it doesn't have the potential to allow its price flow with bitcoin price movement at all time. I see Polkadot as another shitcoin whom the writer of that article is trying to hype.

[pakhitheboss]

It was named as an Ethereum killer when it was launched. Now it has failed miserably to beat Ethereum and as per my understanding the blockchain doesn't have much of use in the current scenario. The price of the coin and the market capitalization has been going down. I do not think it will ever beat Ethereum or replace it. As for Bitcoin it is & will remain the number one coin in the crypto market.

[MAAManda]

Back when I first heard about Polkadot (DOT) & was in the hype, I thought it could be a serious challenger to Ethereum. But over time, Polkadot (DOT) failed to show its strengths. In conclusion, I don’t think Polkadot (DOT) can be the next Ethereum (ETH), let alone the next Bitcoin (BTC) no matter what. My suggestion, you better look at other L-1 altcoins that have more potential than Polkadot (DOT), it will just be a waste.

[DeathAngel]

DOT is a good investment, a good coin. It can of course continue to rise in price as time passes but will it displace Bitcoin or Ethereum as number 1 & 2 cryptocurrencies? Almost certainly not, I see nothing to suggest thatas a likely possibility.

[l99l]

I've passed Ethereum, how does it compare to Bitcoin?
Polkadot is impossible to pass both. I can say that Polkadot has a good ecosystem, I can't say that it will be better than Bitcoin and Ethereum, I'm sure of it.
Ethereum was said to be a killer, they didn't say this only for Polkadot, it was said for others too, but it never happened, it can't happen.

[GreenInk]

DOT is a good investment, a good coin. It can of course continue to rise in price as time passes but will it displace Bitcoin or Ethereum as number 1 & 2 cryptocurrencies? Almost certainly not, I see nothing to suggest thatas a likely possibility.

Can you name some reasons why its a good coin?
Genuinely interested

[sunsilk]

People that invest in the projects that they like should stop this thinking. They've got their own potential and it can be good based on how you view it.

The next this and that search is still going on but IIRC, this has been so off since the 2017 bull run.

Too many projects that keeps on thinking about this target to dethrone Bitcoin and now, even Ethereum.

[o48o]

-cut-
Please be my devil's advocate and help me to show the way.
-cut-

Majority of huge hacks and security flaws lately have been because of exploitation of cross bridge hacks.
In DOT bridges are central part of the design, so how in the world i can trust tech that experimental to be secure?

Also DOT hasn't even created anything interesting or significant. It's most likely not going to revolutionize anything. I am not saying that others would do that, but at least some of them have more ambitious design and who are focusing on actual existing problems. Not building on top of the problems.

[nelson4lov]

Polkadot won't be the next Ethereum or Bitcoin. That dream died years ago. As a matter of fact, there is no next ethereum, solana or Bitcoin. I think where the Polkadot team got it wrong was when they created an isolated network and thought they could stand alone with their siloed ecosystem but it has proven to be a failure. Now, the only thing I see the Polkadot team do is to spend the treasury funds lavishly on influencers and on crypto parties.

According to DeFi Llama, Polkadot TVL is only about $34K. Even if this data is inaccurate, I still believe it's close to the truth because I've not seen anyone that uses that chain for anything.

[Meuh5598i]

NO, Polkadot (DOT) failed to be an alternative to Ethereum, the value of the coin has dropped sharply and it is difficult to compete to be in the top10, so how can it be an alternative to Ethereum and Bitcoin?

So can you please advise me from your point of view top 10 best altcoins that have the potential to grow. What i am planning is to make some dollars investment for at least an year and just forget about it with the hope of good return.

Can you help me with your valuable suggestions from your point of view on which coins should i make my investments? please do come with the highest value and the lowest value of all time. that would be a help.

Regards

[Meuh5598i]

DOT is a good investment, a good coin. It can of course continue to rise in price as time passes but will it displace Bitcoin or Ethereum as number 1 & 2 cryptocurrencies? Almost certainly not, I see nothing to suggest thatas a likely possibility.

I may have failed to make you guys understand. What I am planning is to find the altcoins that can give you at least 10x return within the time span of a year.

I have decided that I am gonna buy:  1 LTC ( and hold it for at least a year)

But with this, I need some fast-growing coins in my portfolio and that's why I am asking your point of view. Will Polkadot be able to give me 10x return in a year?
Do you see that much potential in it. if so why?

[Meuh5598i]

-cut-
Please be my devil's advocate and help me to show the way.
-cut-

Majority of huge hacks and security flaws lately have been because of exploitation of cross bridge hacks.
In DOT bridges are central part of the design, so how in the world i can trust tech that experimental to be secure?

Also DOT hasn't even created anything interesting or significant. It's most likely not going to revolutionize anything. I am not saying that others would do that, but at least some of them have more ambitious design and who are focusing on actual existing problems. Not building on top of the problems.

So, let me ask you one thing, if you're in my shoes what are you gonna do?

I am targeting to get a 10x return on my investment within the time span of a year. If you were me, where would you invest? can you show me at least the top 5 altcoins?

[Meuh5598i]

DOT is a good investment, a good coin. It can of course continue to rise in price as time passes but will it displace Bitcoin or Ethereum as number 1 & 2 cryptocurrencies? Almost certainly not, I see nothing to suggest thatas a likely possibility.

But Do you think will it be possible to get me 10x return back within the timespan of a year. can you share your top five coins in which you see those have the potential to grow in the upcoming years and can at least have the potential to 10x in a year or 2.

[X-ray]

I just feel like coin that have this embarassing metric



0.05 tx/s for its real time TPS, not gonna go 10x in a year, maybe it's the opposite, because it means there's no adoption whatsoever for the blockchain itself, doesn't even deserve current FDV to be honest  .

[yhiaali3]

I chose "Strongly Disagree"
In my opinion, Polkadot (DOT) cannot be the next Ethureum or Bitcoin, I don't think anyone would agree with you, regardless of Polkadot's huge growth potential, there is no way it will outperform or replace Bitcoin or Ethereum anytime soon.

As for what you are looking for (at least 10x return over a 1 year period), I don't think DOT will do that for you, of course it is a good option for long term investment but I don't expect it to achieve 10x in 1 year.

[pooya87]

Why is it that each time someone wants to see a shitcoin pumped they call it "next bitcoin"?

In any case, 10x profit in altcoin market is unlikely to be gained by bag-holding a shitcoin for a year. Such big profits are made by actively trading different shitcoins that get pumped during their pumping phase. With enough experience with how pump and dumps work, one can make consistent profit. Although it has its own risks but it is lower risk compared to bag holding!

[o48o]

So, let me ask you one thing, if you're in my shoes what are you gonna do?

I am targeting to get a 10x return on my investment within the time span of a year. If you were me, where would you invest? can you show me at least the top 5 altcoins?

I wouldn't don't have an answer on which coins would moon. No one does.
I just pointed out what i think is fundamentally wrong with DOT, and good or bad fundamentals doesn't often reflect to gains.

You shouldn't believe me if i am shilling something, but as an exercise and challenge, that got me interested to find out new coins/tokens, because i haven't taken a look at the charts for a while. So i will do a quick check later on and get back to you.

And i would like to point out that for something like 10x in a year, this might not even be a right time (i haven't checked so i am not sure), as different size marketcaps and different trends often move in different phases of the bullrun. In fact, many of the huge mooners might be even going down right now.

Also i would probably use low leverage and some high marketcap coin. But for >10x gains for a coin/token itself. I would look good potential below top 100 mc coins. They move way more in a year.

Anyway, i'll get back to you.

[Mahanton]

I've passed Ethereum, how does it compare to Bitcoin?
Polkadot is impossible to pass both. I can say that Polkadot has a good ecosystem, I can't say that it will be better than Bitcoin and Ethereum, I'm sure of it.
Ethereum was said to be a killer, they didn't say this only for Polkadot, it was said for others too, but it never happened, it can't happen.

Trying to look around.

You would be able to see..
Blah blah blah would be the next Bitcoin or ETH or into other top altcoins in the market.

Im ain't saying that it would be impossible but it is really that hard to believe that these projects wont really be able to make it out or surpass into those coins
on which we know that there's really that strong support and recognition.

Speaking about $DOT then we cant really be able to tell on how this project will really be doing in this upcoming bull cycle. If you've been really that believing that it could
be able to reach up some heights then it would really be that up to you whether you would really be stashing  yourself with it or not.
Some are really just that trying out not to take any risks and stick into those established or top coins in the market on which this is actually just that depending or basing
up into your preference.