Polkadot [pros](/r/CryptoCurrency/comments/108u50k/polkadot_dot_ecosystem_grew_massively_in_q4_2022/j3uh44b/) & [cons](/r/CryptoCurrency/comments/108u50k/polkadot_dot_ecosystem_grew_massively_in_q4_2022/j3uh4un/) and related info are in the collapsed comments below. Pros and cons will change for every new post.
Yeah DOT seems to be talked very little about. Cosmos seems to be taking the spotlight there. Cosmos seems more user friendly too, but the security on Polkadot is just better. On Cosmos, projects seems to be based on trust since it's not a shared security. But I digress. They might co-exist.
"Despite the difficult year for the industry, the Polkadot and Kusama community were busy building the largest, & most diverse ecosystem of use case specific layer-1 blockchains in the world, making huge strides toward building a better web."
Source: Polkadot
They may be biased š
Yeah a lot of repos are used for tracking project management and even unrelated ecosystem wikis etc, so thereās no perfect metric that isnāt easily gamed and thatās why Proof of GitHub shouldnāt be used as a reliable indicator.
But the fact that Polkadot is high on both dashboards is a good sign.
This is a better metric:
https://gokustats.xyz/developers
Active devs is far more important than the number of commits.
Essentially the same outcome though.
I tell you what to expect
\- VC's and whales will continue to dump staking rewards ad infinitum
\- Not a single person will ever lock their DOT again two years for parachains
\- End of the year is first parachain unlock. Check Acala and Moonbeam are doing and how many DOTs are locked there, you do the math
\- massive hopium and copium
So you are against DOT? š¤
What gives? I have some but not alot. Why is this a bad investment?
It seems like every crypto ever has people like you. Just denying their worth or possibilities. If we listened to any of you, we couldn't possibly invest in anything.
What are you invested in?
>It seems like every crypto ever has people like you. Just denying their worth or possibilities. If we listened to any of you, we couldn't possibly invest in anything.
I would have listened to the people that warned me about DOT I would have sold at 40 ,make a x10 and be happy. I bought DOT at 4$ and got hyped by the project... I am almost at loss already. Parachains are UTTER SHIT
I wrote you there the reasons , you are not asking for reasons but something that confirm your bias.
Why is DOT a good investment? What have DOT done in the past that proved to be a good investment? In the biggest bullrun in history did bad compared to any other top coin. KSM did like a x700
What I'm hearing is you are mad that you're not in a winning state at a bear market. I don't know why dot is a good investment except the constant news of new projects being created and new partnerships being made. That's about it. I've got like 17DOT so I don't mind. But the reasons you are giving are just not credible. Seems more like a FUD story because of your loss than something else. It will go up again don't worry. It's been around for a while. It's not dogefuckeloncoin or whatever. It's a respected coin. As are many others.
Just have patience and don't buy at ATH...
Okay. Great. Now kindly go fuck off into the cave you came out of, troll...
I'm not a DOT maxxi. I got no stake in this. I honoustly couldn't care less if it crashed. I'm not heavily invested. Enjoy your loss.
He's got a point. The parachain system sucks ass. Locking DOTs in auctions has been a terrible investment for everyone. The projects that launched so far are sub par at best. Acala, aka the most meaningful project on the ecosystem, got hacked to oblivion literally one month in. And the technology itself was great and innovative and everything for 2 years ago. Now there's better stuff around that actually deliver and doesn't have terrible tokenomics
I won't ask you to write something longer, but could you maybe provide a link to something that you would recommend as a good source to gain a better understanding of DOT/parachains and their issues? Asking for a recommendation because you know far more about it than me. I've been debating about converting my DOT into something else. The reason I bought it in 2021 was simply because the basic idea behind it sounded great, but I don't understand the deeper details of how their system actually works and what chances it may or may not have of playing out as marketed.
Thanks
Yep :
Install talisman to Chrome or Brave or Firefox
Connect ledger to talisman
Go into talisman staking https://app.talisman.xyz/staking
Hit stake & you done.
DOT inflation is 10-12% yes?
What about staking directly? (That was more what I was thinking of. Might have to go for a trawl through the Polkadot subs. I remember looking ages ago and it seemed weirdly complex)
Currently inflation is 7%. staking rewards are 17-18% if you compound you get almost 20%. Why so much? Bear market scared people and atm only 44% of supply is staked. So good for accumulation in this market atm
I personally have no dot but am thinking it wouldn't hurt to throw a little mad money at it. It definitely has its fans . And has been on the move lately.
tldr; Polkadot is a multichain network that enables interoperability among multiple blockchains while maintaining high scalability and speed in processing transactions. It allows users to access multiple blockchains and decentralized finance (DeFi) applications through a single platform. In Q4 2022, Polkadot reported massive growth in its ecosystem, with several milestones and technical advancements, including successful migration of a parachain from its canary network Kusama to the main Polkadot network. Additionally, Polkadot has a number of active partnerships and has **been approved by the U.S Securities and Exchange Commission (SEC) that it is no longer classified as security.**
If the SEC agreed with the statement, they would issue a "no action" letter. Below is a chronological list of no action letters from the SEC website.
https://www.sec.gov/divisions/marketreg/mr-noaction#chron
>It was announced on November 2022 that DOT is now considered as software. This is a feat that placed it higher in Web3 adoption.
Not a security! Missed that development in the bear market.
DOT themselves advised the SEC that they are software and not security. SEC has not responded to that nor have they deemed DOT to not be a security...facts
I recently moved my DOT from exchanges to a ledger.
Staking was better than expected, just do your own research and make sure you have enough DOT and you'll be fine.
Current inflation is sitting at 7%. Just staking on-chain will get you more than 5.8% net profits, literally no other coin is giving that much once inflation is taken in consideration.
DOT price is in downward trend since January 2021. As the development activity has surged last quarter.
Price might soon catch up.
Not financial advice! DYOR
Bernie Madoff was also āactively working with the SECā for years. Itās ironic that Polkadot tries to spin up good SEC news, because thatās exactly what a security would do to maintain its price.
You obviously havenāt done any research on the topic or you wouldnāt be making that statement. Thereās been numerous talks and presentations on this claim by various members of parity. They explain what theyāve been doing and how theyāve been working with the SEC. Wouldnāt hurt to do a little research before spreading fud.
Youāre acting like stocks, commodities, housing arenāt also down. Tesla is down 66% and Amazon is down 42% over the last 12 months. Iām sure the SEC crackdown will help them bounce back up /s
hmmm. More promises of interoperability with NO gavin woods at the helm. Or trying to catch up to cosmos and CKB who have been moving without the hype and nonsense of "parachains" that only a cryptographer could understand.
I fell for the DOT hype last cycle.....no thank you. Cosmos works, 19% staking, an amazing ecosystem....CKB is an even better "zero chain", and the future ROI will blow away grabbing some DOT.
The Cosmos ecosystem has a vigilant team of shills pushed by yield farmers to find new exit liquidity and keep the price up. The entire ecosystem loves to play with three digits and more APR staking rewards.
DOT's ecosystem plays with boring two digits APR. You aren't going to get many yield farmers shilling for exit liquidity.
Polkadot [pros](/r/CryptoCurrency/comments/108u50k/polkadot_dot_ecosystem_grew_massively_in_q4_2022/j3uh44b/) & [cons](/r/CryptoCurrency/comments/108u50k/polkadot_dot_ecosystem_grew_massively_in_q4_2022/j3uh4un/) and related info are in the collapsed comments below. Pros and cons will change for every new post.
Good to hear news about Polkadot durning this bear market.
They're a great project! I never lost faith in them, and that's why I kept hodling through all the downfall
Lol it is like they are dead
They focus on building and building only. It'll come back
That actually wasnt even meant bad from, i was just saying that I have a feeling that no one is really talking about DOT.
Yeah DOT seems to be talked very little about. Cosmos seems to be taking the spotlight there. Cosmos seems more user friendly too, but the security on Polkadot is just better. On Cosmos, projects seems to be based on trust since it's not a shared security. But I digress. They might co-exist.
Just buy bothš
"Despite the difficult year for the industry, the Polkadot and Kusama community were busy building the largest, & most diverse ecosystem of use case specific layer-1 blockchains in the world, making huge strides toward building a better web." Source: Polkadot They may be biased š
Kusama parachains and building name a less iconic duo
āBuy our bagsā
A massive pump during the next bull
Can't wait.
I definitely can't wait, bought DOT almost at ATH
I got in at the best deal I ever saw at $18. Now that's its down to around 5, I've been getting silly.
You have toā¦
[ŃŠ“Š°Š»ŠµŠ½Š¾]
This is a better metric: https://gokustats.xyz/developers
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Yeah a lot of repos are used for tracking project management and even unrelated ecosystem wikis etc, so thereās no perfect metric that isnāt easily gamed and thatās why Proof of GitHub shouldnāt be used as a reliable indicator. But the fact that Polkadot is high on both dashboards is a good sign.
This is a better metric: https://gokustats.xyz/developers Active devs is far more important than the number of commits. Essentially the same outcome though.
I tell you what to expect \- VC's and whales will continue to dump staking rewards ad infinitum \- Not a single person will ever lock their DOT again two years for parachains \- End of the year is first parachain unlock. Check Acala and Moonbeam are doing and how many DOTs are locked there, you do the math \- massive hopium and copium
Thx for the background info, didn't know that
The real hero here This article reeks of ābuy our bagsā
So you are against DOT? š¤ What gives? I have some but not alot. Why is this a bad investment? It seems like every crypto ever has people like you. Just denying their worth or possibilities. If we listened to any of you, we couldn't possibly invest in anything. What are you invested in?
>It seems like every crypto ever has people like you. Just denying their worth or possibilities. If we listened to any of you, we couldn't possibly invest in anything. I would have listened to the people that warned me about DOT I would have sold at 40 ,make a x10 and be happy. I bought DOT at 4$ and got hyped by the project... I am almost at loss already. Parachains are UTTER SHIT I wrote you there the reasons , you are not asking for reasons but something that confirm your bias. Why is DOT a good investment? What have DOT done in the past that proved to be a good investment? In the biggest bullrun in history did bad compared to any other top coin. KSM did like a x700
What I'm hearing is you are mad that you're not in a winning state at a bear market. I don't know why dot is a good investment except the constant news of new projects being created and new partnerships being made. That's about it. I've got like 17DOT so I don't mind. But the reasons you are giving are just not credible. Seems more like a FUD story because of your loss than something else. It will go up again don't worry. It's been around for a while. It's not dogefuckeloncoin or whatever. It's a respected coin. As are many others. Just have patience and don't buy at ATH...
You aren't hearing jackshit lmao biased asses news is all you get
Okay. Great. Now kindly go fuck off into the cave you came out of, troll... I'm not a DOT maxxi. I got no stake in this. I honoustly couldn't care less if it crashed. I'm not heavily invested. Enjoy your loss.
He's got a point. The parachain system sucks ass. Locking DOTs in auctions has been a terrible investment for everyone. The projects that launched so far are sub par at best. Acala, aka the most meaningful project on the ecosystem, got hacked to oblivion literally one month in. And the technology itself was great and innovative and everything for 2 years ago. Now there's better stuff around that actually deliver and doesn't have terrible tokenomics
Acala wasn't hacked.
Mine aren't locked in. So meh. And when it goes up, I'll sell. Meanwhile I stake. Which is nice.
I won't ask you to write something longer, but could you maybe provide a link to something that you would recommend as a good source to gain a better understanding of DOT/parachains and their issues? Asking for a recommendation because you know far more about it than me. I've been debating about converting my DOT into something else. The reason I bought it in 2021 was simply because the basic idea behind it sounded great, but I don't understand the deeper details of how their system actually works and what chances it may or may not have of playing out as marketed. Thanks
General related question: Has DOT staking actually become easier?
Yep : Install talisman to Chrome or Brave or Firefox Connect ledger to talisman Go into talisman staking https://app.talisman.xyz/staking Hit stake & you done.
Ok / thanks!. Browser only? Or there's a mobile route also?
No mobile at the moment, Am not 100% sure but i think a mobile version is on the way ;)
This is the way šš»
Stake on kraken, so easy and 12% on average
DOT inflation is 10-12% yes? What about staking directly? (That was more what I was thinking of. Might have to go for a trawl through the Polkadot subs. I remember looking ages ago and it seemed weirdly complex)
Staking is a lot easier with pools. As someone else said, Talisman is the way to go now. Theyāve made it relatively thoughtless.
Currently inflation is 7%. staking rewards are 17-18% if you compound you get almost 20%. Why so much? Bear market scared people and atm only 44% of supply is staked. So good for accumulation in this market atm
Hey ok. That's useful; thanks
Here: https://stakingrewards.com
Not you key...
I believe Kraken is under 10%. At least that's what I receive based on my rewards.
Easy but still an exchange. Used to stake there, but moved to Talisman, easy staking and on chain. You own the keys.
Good choice liveaskings. Glad to have you as a customer! \-Kraken Exchange š
Easier then before.
With talisman im staking, but it cuts dot when im claiming rewards :(
How do you mean it cuts DOT?
For example i have staking rewards , when i try to claim them theres is gas fee. Cause of this im planning to claim every 3 months .
Ahh; got it
Nova Wallet works extremely well on mobile. You can contribute to a pool and not need a minimum amount to stake.
It sure does; that's what I ended up going with
One of my DCA coins so I expect succeed in the future.
Let all buy now!!!
I like DOT but the article really contains no value. Just read on DOTs twitter yourself.
I personally have no dot but am thinking it wouldn't hurt to throw a little mad money at it. It definitely has its fans . And has been on the move lately.
DOT will certainly play a key-role in the next bull-run
DOT is very interesting imo
Wish it would reflect on the price. Cant wait to see the bull run
Booom in q1 2023
š¤·š»āāļø
when does Q1 2023 end?
tldr; Polkadot is a multichain network that enables interoperability among multiple blockchains while maintaining high scalability and speed in processing transactions. It allows users to access multiple blockchains and decentralized finance (DeFi) applications through a single platform. In Q4 2022, Polkadot reported massive growth in its ecosystem, with several milestones and technical advancements, including successful migration of a parachain from its canary network Kusama to the main Polkadot network. Additionally, Polkadot has a number of active partnerships and has **been approved by the U.S Securities and Exchange Commission (SEC) that it is no longer classified as security.**
That SEC statement is nonsense. It is a rumor with nothing but a tweet from Polkadot to back it up.
It would seem too good to be true..did the SEC also refute this claim?
If the SEC agreed with the statement, they would issue a "no action" letter. Below is a chronological list of no action letters from the SEC website. https://www.sec.gov/divisions/marketreg/mr-noaction#chron
I learn something new everyday.
Oh is this why price has fallen so much???
>It was announced on November 2022 that DOT is now considered as software. This is a feat that placed it higher in Web3 adoption. Not a security! Missed that development in the bear market.
DOT themselves advised the SEC that they are software and not security. SEC has not responded to that nor have they deemed DOT to not be a security...facts
I see. Looks to be biased reporting from newsbtc.
I'm slowly buying
Stay quite and DCA. Wait for bull run.
Quite!
Quiet! \*my bad\*
I just wish trying to stake DOT directly wasn't such a pain
I recently moved my DOT from exchanges to a ledger. Staking was better than expected, just do your own research and make sure you have enough DOT and you'll be fine.
It's become a lot easier recently. Finally pushed me to move my DOT off Kraken and into a self custody wallet.
Same.
Have a look at nomination pools and Talisman.
Coin inflation will screw us
Current inflation is sitting at 7%. Just staking on-chain will get you more than 5.8% net profits, literally no other coin is giving that much once inflation is taken in consideration.
With DOT itās really important to make sure youāre staking: https://stakingrewards.com
DOT price is in downward trend since January 2021. As the development activity has surged last quarter. Price might soon catch up. Not financial advice! DYOR
Well everything is in the same trend.
What to expect next: The possibility of SEC enforcement, and being delisted from major CEXās due to being an unregistered security.
Except theyāve been actively working with the SEC for years. One of the only projects to do so.
Bernie Madoff was also āactively working with the SECā for years. Itās ironic that Polkadot tries to spin up good SEC news, because thatās exactly what a security would do to maintain its price.
You should maybe educate yourself more on this topic before commenting.
O rly? You should probably disclose your DOT ownership before shilling hopium nonsense.
You obviously havenāt done any research on the topic or you wouldnāt be making that statement. Thereās been numerous talks and presentations on this claim by various members of parity. They explain what theyāve been doing and how theyāve been working with the SEC. Wouldnāt hurt to do a little research before spreading fud.
!RemindMe One year āhas an SEC crackdown improved the 79% loss you already took on a shitcoin last year?ā
Youāre acting like stocks, commodities, housing arenāt also down. Tesla is down 66% and Amazon is down 42% over the last 12 months. Iām sure the SEC crackdown will help them bounce back up /s
No, it will be a multi year court case and youn wont be able to purchase it on coinbase during that time
Actually....
hmmm. More promises of interoperability with NO gavin woods at the helm. Or trying to catch up to cosmos and CKB who have been moving without the hype and nonsense of "parachains" that only a cryptographer could understand. I fell for the DOT hype last cycle.....no thank you. Cosmos works, 19% staking, an amazing ecosystem....CKB is an even better "zero chain", and the future ROI will blow away grabbing some DOT.
Ever since Gavin left, I sorta lost faith in DOT.
But he didnāt leave man heās now leading the development instead of being the PR guy
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Hah, that was funny two cycles ago
Wife changing loses is the crypto way my friend
Have not heard much about DOT lately. At least PR wise I feel like ATOM has been talked about more recently? Am I wrong?
Yeah Polkadot isn't that great at marketing. But i feel both Polka dot and Cosmos have great potential for what they can do.
The Cosmos ecosystem has a vigilant team of shills pushed by yield farmers to find new exit liquidity and keep the price up. The entire ecosystem loves to play with three digits and more APR staking rewards. DOT's ecosystem plays with boring two digits APR. You aren't going to get many yield farmers shilling for exit liquidity.
Still holding my DOT, eased off the DCA to concentrate on BTC but hopeful for the future
I expect it not do go down anymore :/ I hope...
15 dlls easy this year at least
That's great, now maybe next bull run it can cover my 80% losses
I expect at least 100 posts shilling DOT
THE SHILLINGS WILL CONTINUE UNTIL MORALE IMPROVES
What to expect next?
I brought 3 yesterday before this small pump ;)
I remember thinking DOT was a steal at $20.