As the title suggests I’m curious whether Polkadot is in a downtrend because of the recent parachain auctions (which if you have not already checked out you should!)
Or is there another reason that I’m not seeing? I realise the price has been driven down a bit by the recent BTC crash but the downtrend has been ongoing for the past month. If it is due to the auctions will we see a price surge on the 16th when they conclude and how hopeful are you all for DOTs future?
Personally I’m a holder of a large bag of DOT so I’m very hopeful for the future but I’m curious what everyone else thinks!
Polkadot Pros & Cons – Participate in the r/CC Cointest to potentially win moons. Prize allocations: 1st – 300, 2nd – 150, 3rd – 75.
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The price should surge during auctions, not when they conclude
This man makes sense….This is the way of the sensable conclusions
We’re all wondering the same thing
I own it so it cannot go up.
This is the way. Your ownership combined with my ownership means DOT is likely to never look up again.
Dump it
Phew, for a second I thought it was my fault
I dumped all of mine. I don’t encourage you to dump yours, especially at these prices, but I want to share my rationale:
– In the case of Dexes, gaming, yield farming, and loans, the finality of a transaction is important. Dot is fast, but about 60 times slower than Gen3 platforms to finality. This isn’t the same as TPS, which is more of a capacity thing. I think DOT positioned itself early as having a superior decentralization design, and if they manage to have extremely unique apps maybe they can attract more people to think like them. But all I see is copycat stuff so far
– There’s a high barrier to entry for developers. There’s concepts like locking liquidity for a long time, parachain auctions, etc. There’s uncertainty when those parachains release their liquidity leases. I too believe it’s a multi-chain future, but I see less constrictive offerings from places like Avalanche Subnets, Cosmos, Chainlink V3, Solana Wormhole, etc
– No buzz. The project is too complicated for most people to appreciate. Whereas other Layer1s are prioritizing the UX for real adoption right now, Polkadot seems to think this will happen later. The UX and Marketing ‘is’ the product, it’s the touchpoints. Here DOT scores very low, except with some neckbeards that say ‘nah man I use it daily etc’ but the numbers don’t lie – even in this year’s bull runs Dot barely broke $50
– Gavin is a douchebag on social media. Yes, brilliant, but he rubs it in people’s faces all the time. That leaves the kind of intimidating fart that drives away younger developers watching him. I wouldn’t want to hang out with the guy personally, less build my company on his turf
My 2c
It’s refreshing to see something negative said about a specific cryptocurrency in such a detailed way. I really enjoyed this comment
Lots of bad points here, mostly FUD tbh.
Dots speed does not limit the parachains speed where all the action will be.
The barrier is in fact lower on polkadot as you can crowdfund your blockchain and get a slot by convincing the community with good concepts and working on the testnet (rococo).
I have no idea about what uncertainty you are even talking about locked liquidity. Parachain lease periods are pretty straight forward.
The other chains you mention dont have the tech that polkadot has which will be cross chain messaging with ALL chains using the SAME consensus. You dont have lower security like when 2 networks communicate with each other on 2 other chains.
Polkadot is also spending money on more user friendly wallets and is in the process of a logo rebranding which is going to strengthen the identity and ability for better marketing.
You gave yourself away as a frustrated troll when you started mentioning neckbeards and talking shit about gavin. Sounds like you just bought the top tbh.
Gavin is like a pretty humble guy and does rarely even post on twitter.
In a recent talk with edward snowden he mentioned he works 14 hours a day on polkadot.
Maybe you confused gavin with charles hoskinson or something.
Either way people ignore the shit comment above.
Wow, what a nice analysis dude. Thanks for this.
Agree on the ‘complicated’ part, even staking is confusing for newbies.
This reply can be a post. Really thoughtful
Way more than two cents. Much appreciated comment.
Thanks for your detailed input
Well said.
Eye-opening. Selfishly Hope to see your perspective on ATOM someday.
Finally some real rationale about DOT. You expressed these points very well.
I cringe when I drop the ‘when in doubt, zoom out’ thing because it’s a sub-trope but damn it it’s also true 👍
I was thinking all the rest of the market is down so DOT is also down. Things will trend up and DOT will go ⬆️
Dot pumped before parachain auctions, buy the rumor sell the news. But I think it’ll be back up.
Polkadot Pros & Cons – Participate in the r/CC Cointest to potentially win moons. Prize allocations: 1st – 300, 2nd – 150, 3rd – 75.
Sort comments as controversial first by clicking here. Doesn’t work on mobile.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
The price should surge during auctions, not when they conclude
This man makes sense….This is the way of the sensable conclusions
We’re all wondering the same thing
I own it so it cannot go up.
This is the way. Your ownership combined with my ownership means DOT is likely to never look up again.
Dump it
Phew, for a second I thought it was my fault
I dumped all of mine. I don’t encourage you to dump yours, especially at these prices, but I want to share my rationale:
– In the case of Dexes, gaming, yield farming, and loans, the finality of a transaction is important. Dot is fast, but about 60 times slower than Gen3 platforms to finality. This isn’t the same as TPS, which is more of a capacity thing. I think DOT positioned itself early as having a superior decentralization design, and if they manage to have extremely unique apps maybe they can attract more people to think like them. But all I see is copycat stuff so far
– There’s a high barrier to entry for developers. There’s concepts like locking liquidity for a long time, parachain auctions, etc. There’s uncertainty when those parachains release their liquidity leases. I too believe it’s a multi-chain future, but I see less constrictive offerings from places like Avalanche Subnets, Cosmos, Chainlink V3, Solana Wormhole, etc
– No buzz. The project is too complicated for most people to appreciate. Whereas other Layer1s are prioritizing the UX for real adoption right now, Polkadot seems to think this will happen later. The UX and Marketing ‘is’ the product, it’s the touchpoints. Here DOT scores very low, except with some neckbeards that say ‘nah man I use it daily etc’ but the numbers don’t lie – even in this year’s bull runs Dot barely broke $50
– Gavin is a douchebag on social media. Yes, brilliant, but he rubs it in people’s faces all the time. That leaves the kind of intimidating fart that drives away younger developers watching him. I wouldn’t want to hang out with the guy personally, less build my company on his turf
My 2c
It’s refreshing to see something negative said about a specific cryptocurrency in such a detailed way. I really enjoyed this comment
Lots of bad points here, mostly FUD tbh.
Dots speed does not limit the parachains speed where all the action will be.
The barrier is in fact lower on polkadot as you can crowdfund your blockchain and get a slot by convincing the community with good concepts and working on the testnet (rococo).
I have no idea about what uncertainty you are even talking about locked liquidity. Parachain lease periods are pretty straight forward.
The other chains you mention dont have the tech that polkadot has which will be cross chain messaging with ALL chains using the SAME consensus. You dont have lower security like when 2 networks communicate with each other on 2 other chains.
Polkadot is also spending money on more user friendly wallets and is in the process of a logo rebranding which is going to strengthen the identity and ability for better marketing.
You gave yourself away as a frustrated troll when you started mentioning neckbeards and talking shit about gavin. Sounds like you just bought the top tbh.
Gavin is like a pretty humble guy and does rarely even post on twitter.
In a recent talk with edward snowden he mentioned he works 14 hours a day on polkadot.
Maybe you confused gavin with charles hoskinson or something.
Either way people ignore the shit comment above.
Wow, what a nice analysis dude. Thanks for this.
Agree on the ‘complicated’ part, even staking is confusing for newbies.
This reply can be a post. Really thoughtful
Way more than two cents. Much appreciated comment.
Thanks for your detailed input
Well said.
Eye-opening. Selfishly Hope to see your perspective on ATOM someday.
Finally some real rationale about DOT. You expressed these points very well.
I cringe when I drop the ‘when in doubt, zoom out’ thing because it’s a sub-trope but damn it it’s also true 👍
I was thinking all the rest of the market is down so DOT is also down. Things will trend up and DOT will go ⬆️
Dot pumped before parachain auctions, buy the rumor sell the news. But I think it’ll be back up.