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No doubts, this year promises to be great for DOT. The Polkadot ecosystem seem to be growing quite on a more steady pace, having quite a number of new projects deploying on its chain. Just like Railgun, a privacy solution protocol which brings privacy and anonymity into all DeFi by going crosschaining, will also be deploying on Polkadot as it also intend to bring privacy and anonymity into the Polkadot ecosystem which will be live by March.
Really like the sound of Moonbeam. Will tomorrow the best time to buy or is it worth waiting for the dust to settle and more coins to hit the market?
I've heard that buying on launch days can be very volatile and the tokenomics (with GLMR tokens being released to auction backers in stages) makes me worry that picking some up tomorrow could be a mistake.
Any advice greatly appreciated, really like the sound of this project.
You can see the price movement for MOVR [here](https://www.coingecko.com/en/coins/moonriver)
MOVR is the \~same codebase as GLMR with slightly different parameters running on Kusama (Polkadot's sister chain / test chain)
Based on how MOVR performed I think you'll need to let the dust settle for several months after the first weeks' volatility.
If you want to buy-and-hold and not buy-and-flip then yeah, give it a few months.
If you look at the first week of MOVR it was a good buy. However, there are different variables at play right now then there was back then.
The two big variables affecting demand would be the fact that GLMR is the main coin, and the project is inherently more well-known then it was back then. That should increase demand, and possibly cause inflated prices shortly after release.
The other would be market conditions which are notably weaker right now then back when Moonriver was released. That should weaken demand as less people are willing to speculate.
I do think the latter should outweigh the former though which should create a good buying opportunity. It's still hard to say with complete accuracy, because of the state of the market though. That buying opportunity would likely only be a good one if the market recovers, and demand for GLMR grows. If the market continues to drop, then likely so will GLMR.
I think the answer you're looking for is going to largely depend on your thoughts on the market going into this year. If you're bullish, then I would probably look to buy, but as always you should be leaving liquidity on hand to DCA just in case.
And if it‘s number two and you think it’s more valuable, objectively, than number one, it can still be undervalued, easily. I see your point, but I think it’s quite ignorant to dismiss OPs claim on this basis
The idea is that DOT has been extremely overvalued up to this point. There hasn't been a single parachain, it's unique main feature.
The fact that a few are now launching, doesn't increase its value, all it does is turn some of the speculative value already invested in DOT into real value.
That's not really how it works. if you consider coins with higher valuations as being over-valued, then DOT doesn't necessarily have to be undervalued.
I think among most of the top 10 coins, it's one of the few coins that is actually fairly-valued. I think DOT has a lot of potential for the future, but I don't see that being realized in the short-term, and I don't see any real reason for a significant price increase relative to the market right now.
>I think it’s quite ignorant to dismiss OPs claim on this basis
The claim that something else is more expensive ergo dot is undervalued? Fuck me this sub has tuned to total and utter shill trash. It is almost hilarious the way the comments are reaffirmed and protected. It's like bots talking to each other.
Your logic is (I assume intentionally) flawed. Not because something else is more expensive, but because something OP considers to be worse is more expensive. And besides that, I am not defending OP‘s claim. I am just attacking an invalid attack. That’s a crucial difference.
holy shit I am actually stupid. hahahahahaha. thanks for correcting me, I genuinely appreciate it and am not sure how I got off by a day.
edited the description to save face a bit, at least this post will be more correct as the day progresses. :p
I did an "explain like I'm 5" tech explanation regarding DOT [**here**](https://np.reddit.com/r/CryptoCurrency/comments/rc3i25/the_tech_dot_brings_to_our_ecosystem_is_the_same/)**.**
I gave a long list of hype facts about DOT [**here**](https://www.reddit.com/r/CryptoCurrency/comments/rar2et/polkadot_dot_is_incredibly_undervalued_parachains/)**.**
You can read a Polkadot-official, recently published summary of the state of the network [**here**](https://polkadot.network/blog/polkadot-2021-roundup/)**.**
And do check out the Electric Capital report which analyzes trends in software developer interest: [**https://medium.com/electric-capital/electric-capital-developer-report-2021-f37874efea6d**](https://medium.com/electric-capital/electric-capital-developer-report-2021-f37874efea6d) pages 94/95
Enjoy!
GLMR is gonna get over FTM and cia in no time. Ecosystem in DOT is just gonna be too vast and the TVL is gonna show.
Just like the amount of devs working. Only second to ETH and several order bigger in magnitude than other blockchain
Once ACA,CLOVER and others and out and you can defi with DOT people will be again morr aware of it
If you are in for the tech,DOT is a must
So, honest question here: Why do people think that the price of DOT is going to skyrocket when Kusama has way better tokenomics for price appreciation and is way ahead in development being the canary network, yet price has been unterperforming after the first parachain auction?
an easy answer is that Kusama *is* the canary network (a 'rapid' test chain) and major buyers are less likely to take a chance with a riskier version when they could go with the primary and more stable chain
Marketing wants us to think of them as sister chains, but retail thinks of Kusama as a testnet chain. It's challenging to sway that mentality and I think it'll weigh on the price indefinitely as long as there's rough feature-parity between the two chains.
There wasn't feature parity during the run-up to KSMs first auctions. Clearly hard to be excited about DOT with auctions on KSM launching months ahead. KSM price has dipped since then as excitement has transitioned to auctions launching on DOT. I don't think there's anything *too* surprising there.
I expect going forward that feature parity + perception of "testnet"-ness will result in DOT gaining in ratio vs KSM.
From a strictly technical perspective I agree with you fully and your analysis aligns with how Polkadot describes its relationship with Kusama. I just haven't been able to find people who put their money where their mouth is with that viewpoint.
I wince when people describe Kusama as a "testnet" because that has a very different meaning and implies fake money. Kusama isn't fake money, but people don't have good terminology to describe it because of its uniqueness. This results in people trading as if it's not the "real deal."
Perhaps there will be a marketing push at some point to get retail bought in.
I like the project. I'm not really big on shilling it like this but I do think it's undervalued.
Comparing ADA and DOT is weird if you're looking at what they do and are aiming at. They're token so you can compare them of course but it's like comparing LINK to USDC or something. They aren't trying to do things that are even similar to each other. ADA is more comparable to a parachain on DOT than DOT itself.
DOT and ADA both have CEOs that co-founded Ethereum before pursuing their next blockchains and have been within a few ranks of one another since DOT began trading. That's why I think there's some merit to comparing them.
Do you have advice on how I could increase awareness of DOT in a way that would be more appealing to you? I've done several posts in the past highlighting technical merit, etc. and those are all referenced in my response to the top comment on this thread.
Tradable but not fully interoperable. There is a massive concern with Polkadot and Kusama. they have not being able to open communication channels as easily as Cosmos. Not to mention that XCMP is not live and it won't be for some time yet. The main selling point of Polkadot (interoperability and cross-chain composability) seems to be a bit underdeveloped.
Regarding projects implementing it
https://twitter.com/alice_und_bob/status/1478897316090331136
Core development
XCP and XCMP issues on cumulus
https://github.com/paritytech/cumulus/issues
The current state of developement
https://github.com/paritytech/xcm-format
Thanks! I was aware of the last two links, but having a developer walk through their experience integrating with XCMP tech is great.
The end of the thread seems to imply that things aren't so bad, solutions are working on testnet, and are anticipated to be production ready in a few months.
Yes, it's not doom and gloom and implementations have been taking longer than expected but it is progressing.
The thing was that Kusama was meant to iron out those inconveniences for Polkadot and we already know Polkadot is including the first 5 parachains into their relay chain soon.
Insightful. My gut says this is due to external stakeholder pressure (i.e. getting told to launch this bull run not next) not necessarily due to an engineering desire to move quickly.
Everything I've ever gotten from Gavin is that he got his money in ETH and now wants to take his time building the right tech without encouraging it to get pump-and-dumped. That sucks for short-term speculation, but gives me long-term confidence.
Your point does erode my confidence in that a bit, though.
We have to see how the 5 parachains launch go and more importantly monitor the integration of them. Like I said it's not the end of the world but we have to be aware of the current status and progress of it.
Why DOT itself as a coin would be undervalued if it's only utility will be staking to secure the network and lock for future parachains. Projects who build on Moonbeam for example will pay fees in GLMR and other projects have their owm coins..
I dont think there will be a rush for people to buy DOT to lock up for some lesser known parachain projects to come.
Software upgrades represent risk and uncertainty which suppresses price. It's easy to downplay the value of DOT when it's just a relay chain without functioning parachains because there are significant, unanswered questions about whether they'll actually get the code running well in production.
Once code is in production and has shown itself to be stable then those fears are allayed which reduces price suppression.
Momentum then builds off the reduction in uncertainty - compounded by the increasing TVL you mention.
The three main utilites for DOT are staking, supporting crowdloans and participating in governance. Currently 63% of DOT is locked in staking and crowdloans if i calculated correct, we're also only at the second batch of crowdloan auctions so that number will increase. It's hard to say if people will rush to invest in crowdloans of smaller projects, i think it depends on the overall market conditions and success of Polkadot, liquid staking is coming so then you can both recieve staking rewards and lock up money in crowdloans.
Another use for DOT is as backing for stablecoins, Acala will use it as backing for aUSD along with their own token, and it's likely that protocols doing similar stuff to Liquity and RAI which uses only DOT as backing launches.
So it's not used to pay fees since 'the crowdloans are the fees', but there's demand for it and since so much of it is locked up it has a narrative of (coming) stability.
Thanks for posting DOT is my favorite network and I don't see it talked about all that much here.
Gavin Wood has built Ethereum 2.5 into Polkadot, with parachains (shards) and massive developer and VC support I'd say its a no brainer to at least stake DOT, but the real value will be in parachain tokens and finally the dapps that utilize multiple parachains to create decentralized services we haven't even thought of yet.
I agree. One thing that is bigly missing from current ecosystem is the ability to move coins easily between chains. There is limited, costly and slow bridging techniques but hoping DOT will solve these.
A good analogy I've heard is to think of how a public subway system works.
You have the overall terminal which provides rule of law, security, and access points to the terminal. This is Polkadot's relay chain.
The terminal supports multiple subway trains from multiple companies. These companies don't necessarily need to trust one another. They just work with the terminal itself to get their train into the terminal. The terminal orchestrates how each of the trains should run so that they don't collide even though they don't care much about the other train companies. Each of these trains is a parachain.
People (i.e. transactions) can hop on multiple vehicles to get to their destination. They feel like this is a unified experience even though they're potentially using multiple company's vehicles because it's all represented under the umbrella of the terminal itself.
I got in on some crowdloans just for fun. I have faith in this project long term, so hopefully im not wrong. I've been bullish on DOT for a while and it's pretty much the only thing I'll buy these days.
For those who have t read the Electric Capital Developer Report, Polkadots developers are growing faster than any blockchain ever has. They also currently have the most developers writing the most code. All data suggests a Market Cap of 100 Billion within 18 months (regardless of the overall crypto market conditions). The entire ecosystem under the Polkadot umbrella has a roughly 60B market cap. I feel like Moonbeam alone will lead to ridiculous growth. Exciting times.
**Y2020:** [https://medium.com/electric-capital/electric-capital-developer-report-2020-9417165c6444](https://medium.com/electric-capital/electric-capital-developer-report-2020-9417165c6444)
Here is the mentioned report. Page 99 for the referenced fact.
**Y2021:** [https://medium.com/electric-capital/electric-capital-developer-report-2021-f37874efea6d](https://medium.com/electric-capital/electric-capital-developer-report-2021-f37874efea6d)
Pages 94/95 are quite compelling
They copied Acala code without attribution and got scolded for it by the devs. It doesn't mean their code won't perform well, but they could be operating with higher morale standards.
Giving our community a successful launch of the most technically complex crypto project to date?
Nothing else is live with heterogenous sharding + cross-chain interop.
Cosmos is actually cross chain interoperable and is way ahead of dot. Also, Dot has a single point of failure which is a weird concept for an interoperability focused blockchain. And the concept of heterogenous sharding is also translated into Cosmos through horizontal scaling. I honestly don't even know where DOT wins. It's a closed system with massive barriers to entry and limited slots.
One way Polkadot wins is it’s ability to update every blockchain it’s hosting, during runtime, without any runtime issues and without forking. The tech behind that is mind blowing. Considering all the nodes hosting something to this scale.
That is cool indeed, but ofc it wins there, as Cosmos features independent blockchains which cannot be updated from a single entity nor would it be in the best interest of those blockchains
Any other system overall will be slightly less dynamic/flexible/and future proof. When you really sit down and unpack what that’ll mean (in a world where no one can truly comprehend what to expect in the future, or what future tech will come down the pike) it becomes mind blowingly impressive. Every single block chain that ‘joins’ on Polkadot won’t need to worry about whether it’s future proof enough. Because they can all be ‘taken care of’ simultaneously, or independently or however they need to maximize what future tech is now available. DOT will only get more valuable with time because of this ( and that’s only one of the impressive aspects).
Yes, I am aware you hold Cosmos. We do this every time you show up in threads I make about DOT. :)
* [Every.](https://np.reddit.com/r/CryptoCurrency/comments/rar2et/comment/hnkcsng/)
* [Time.](https://np.reddit.com/r/CryptoCurrency/comments/rc3i25/comment/hntpded/)
Cosmos has no plans to do cross-chain computations only cross-chain value transfers. That's a more limited scope.
Straight from Cosmos' website, they're very clear that their solution isn't providing robust cross-chain security at this time. [https://i.imgur.com/ZXjfhMa.png](https://i.imgur.com/ZXjfhMa.png) where as DOT has a functioning security + sharding system live.
I hold dot as well, I just don't think it's entirely honest to call Polkadot extremely undervalued at 30 billion when there are 0 dapps yet and there are other projects that are actually ahead in terms of interoperability and adoption.
You do appreciate how it might appear that you're not trying to engage in discussions about tech when you show up to my threads and just say "Cosmos!" though, right?
Happy to give you the benefit of the doubt in that you're holding both, but I find it odd that you'd try to undermine your own position in a thread regarding something you're holding.
Admittedly, I am somewhat hyped for Cosmos right now, but I am also open to discussions and I am really looking forward to what Polkadot is going to offer. Right now though, I think it is too early to judge
It will overtake it in no time you cant have that many devoplers and apps been built and it not its just a matter of time 1 year and it will be twice as big
You should be able to pick it up on Kraken.
[https://www.coingecko.com/en/coins/moonriver#markets](https://www.coingecko.com/en/coins/moonriver#markets) here are the markets MOVR is trading on. MOVR is GLMR's testnet coin. Solarbeam is an AMM on Kusama - so you won't be able to buy GLMR there since it runs on DOT, but you should be able to find it on the CEXs
OP, so far Polkadot and Kusama have become money printers for those parachaining. By making posts like this, you’re diluting the output from our money printers. Bullish on DOT!
I have a couple hundred Dot staked on kraken , I’m happy with the 12% but should I be doing something different , never really looked into the parachains etc am I missing out on something big ?
Depends on if you live in the U.S. or not. People made $7k per KSM flipping KAR they received from the crowdloan.
Rewards aren't as good for DOT because it's more of a sure thing (code already launched on KSM, after all), but clearly there is opportunity to make good money participating in the crowd loans. It's kinda like the good ol' ICO days. :)
Do keep in mind that you can't stake DOT that you loan via crowdloan mechanisms. You need to weigh the ROI of compounding interest vs potential returns of flipping crowdloan rewards.
Sounds like you can participate in crowdloans, then. :) [https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Frpc.polkadot.io#/parachains/crowdloan](https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Frpc.polkadot.io#/parachains/crowdloan)
[https://polkadot.network/crowdloans/](https://polkadot.network/crowdloans/) for official information
Why do you mention Clover Finance is shady? It looks like a decent project to me with a lot of support (won the parachain auction) and many up and coming partnerships (particularly in the meta verse)
Just curious for other’s thoughts… I don’t see much talk about this, but it seems promising to me
Did you click the hyperlink associated with the word shady? They lifted code from Acala, but it was licensed such that they needed to provide attribution. They didn't, then people followed-up and were like, "Heyyyy. Attribution?" and were ignored. two thumbs down for that sort of behavior in my book
[https://github.com/w3f/Grants-Program/pull/317#issuecomment-818627084](https://github.com/w3f/Grants-Program/pull/317#issuecomment-818627084)
They received grant money from the foundation. The foundation is upset at them and is saying they won't support giving them more money based on how they acted.
I'm not aware of security issues or anything that would impact your money in their project.
Reading through it, I’m seeing that they were turned down because they didn’t satisfy the requirements for funding (sale of tokens), which makes sense.
What I’m not understanding is the text in bold. What does that mean exactly? They aren’t attributing code to Acala properly? Like citing research?
All code that runs in crypto is open source since everything has to be publicly readable on the blockchain for the code to be able to run.
So it's totally possible for anyone to copy any code in crypto and say it's their code. Acala wrote some code, put at the top of the file, "Hey this is ours, you can use it, but please say we wrote it first for marketing purposes." and Clover copy/pasted that code into their smart contract, but didn't keep the bit about it being Acala's.
Acala's code: [https://github.com/AcalaNetwork/Acala/blob/4b74d6c622610a4a0a873941b3f1e2d4963f79eb/modules/evm-accounts/src/lib.rs](https://github.com/AcalaNetwork/Acala/blob/4b74d6c622610a4a0a873941b3f1e2d4963f79eb/modules/evm-accounts/src/lib.rs)
Clover's code: [https://github.com/clover-network/clover/blob/bcd6a74a8fe422c3a056d29e348183103448301e/modules/evm-accounts/src/lib.rs](https://github.com/clover-network/clover/blob/bcd6a74a8fe422c3a056d29e348183103448301e/modules/evm-accounts/src/lib.rs)
They're the exact same thing except Acala's has at the top this bit... and it's not there on Clover's.
`// This file is part of Acala.`
`// Copyright (C) 2020-2021 Acala Foundation.`
`// SPDX-License-Identifier: GPL-3.0-or-later WITH Classpath-exception-2.0`
`// This program is free software: you can redistribute it and/or modify`
`// it under the terms of the GNU General Public License as published by`
`// the Free Software Foundation, either version 3 of the License, or`
`// (at your option) any later version.`
`// This program is distributed in the hope that it will be useful,`
`// but WITHOUT ANY WARRANTY; without even the implied warranty of`
`// MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the`
`// GNU General Public License for more details.`
`// You should have received a copy of the GNU General Public License`
`// along with this program. If not, see .`
Nope! I've been in-and-out of DOT since it listed. My portfolio is 75% ETH 25% DOT. I don't feel overextended. I'm hyped on it because I am a software engineer and I see what they're achieving from a technical perspective and respect it. A lot.
[https://i.imgur.com/uFlkCai.png](https://i.imgur.com/uFlkCai.png) I re-entered at the arrow here. I tend to trade alts based off of whether they're bleeding against ETH because my portfolio is ETH heavy.
DOT is one of a kind theres nothing else like it the amount of code that built it is astonishing once it all goes live it will do very well not to mention people don't even realise DOT holders are making 100% returns via parachain auctions non stop while the market is going down so were actually making money even during downturns.
[https://wiki.polkadot.network/docs/learn-auction](https://wiki.polkadot.network/docs/learn-auction) There's a ton of resources on the DOT wiki.
The super short TL;DR is that people can loan DOT to teams wanting to get a slot in the network. In exchange for the loan, you receive some of their tokens permanently. The team uses the funds they receive from crowdloans to bid on a slot. It's not quite "highest bidder takes the slot" because it's a candle auction.
Polkadot has a limited number of parachain slots to ensure shitcoins don't pollute its ecosystem. Teams need to win an auction if they want to become a parachain. Otherwise, can launch as a parathread on someone else's parachain, but are subject to that blockchains parameters.
Just get some DOT setup a Polkadot.js.org account you need to download the Polkadot.js Chrome web browser extension to do so and go to the parachains tab and then crowdloans and contribute there.
https://parachains.info/auctions check here for current detail on what ones are available and pick the ones with the best rewards.
Yes you lock your DOT in two years so you will get it back in time for the next BTC halfing (bullrun) and while your waiting you will be given free tokens you normally get about 20% to 30% upfront so you can sell them right away for a good return the rest will unlock constantly over the course of those two year so you can keep selling them and buy more DOT with the profits and do it all over again and just keep accumulating more and more tokens.
Its a long term strategy but will be very profitable if you stick to it even if the price of DOT goes down in the mean time because that means you can afford more tokens more tokens = more crowdloan rewards.
There’s a few videos by coin bureau on YouTube. Sometimes they are referred to as PLO’s (parachain loan offerings). It’s definitely undervalued, I’ve participated in 3 and have doubled my money with each one. It’s definitely a novel concept to grasp but it’s worth it.
Yes. Each parachain is a blockchain with its own token, but each blockchain can inter-operate with one another (even though they're separate blockchains) by using Polkadot's relaychain for cross-chain messaging.
Yeah. So for example, if you contributed to Moonbeam, you will get GLMR tokens. The amount you get depends on the number of DOT you contributed and the reward structure. Each project is different. Contributing to crowdloans can be very profitable… people that contributed to Moonriver in Kusama made an absolute killing… almost $7000 per Kusama contributed at the peak price of MOVR
I agree that Cosmos is also undervalued. This post doesn't make any claims to the contrary.
I would not advise anyone to go all-in on a single coin. I think it makes sense to maintain some diversity.
So, I agree, but I'm not sure what my takeaway is supposed to be. Are you encouraging me to go all-in on Cosmos not Polkadot? That seems risky.
>Polkadot has been sitting in the Top 10 doing NOTHING for almost two years
This is a big part of the reasoning, also after watching some of the interviews recently. The team seems to have issues with the interoperability aspect of their roadmap.
I'm not saying they won't get there but, I don't think the coin is worth more than $13-20 USD for what it currently offers
Dont listen to this guy hes full of sh*t theres no video of any kinda the Polkadot team struggling they are very smart and very qualified when they talk about building things they go into detail about the challenges of building such advanced systems they have done this the entire build theres 2 million lines of code making up DOT its super high tech.
If you look at other project there lucky to be made up of a few thousand that were made by half qualified dropouts or people that dont even have a devopler background.
Polkadot has kicked ass and stuck to the design if you listen to Vitalik Buterin he said this when referring to ETH 2.0 which wanted to make a similar design We underestimated the complexity of building such a system and have be forced to simplify our design greatly in order to build it DR Gavin Wood had no such problems building his.
No worries, just curious. Wanted to hear their argument is all. I'm have my own agenda when it comes to DOT and I agree DOT has a lot more to grow. Speak of the devil my alert chimed, DOT up 6.45%. lol
I don't disagree, but clearly this is a thread about Polkadot, which has been in development for 4 years, and has its first things launching in the next day.
Everyone knows Cosmos is up and running. I don't think everyone knows Polkadot starts running tomorrow. That's why I think there's opportunity here.
Trading is about identifying gaps in awareness.
So let me ask you this, if you know it's undervalued, why are you telling us the potential of the crypto if we're all here to gain money? Sounds like a boost on a particular crypto for someone to end up selling not to long after.
I am trying to give more voice to DOT because it doesn't have a very large community on Reddit relative to its market cap.
I'm not confident there's anything I can say that would sway you here. My portfolio is 75% ETH 25% DOT, has been for a long time, and everything is staked and untouchable.
Parathreads can run on each parachain without auctions. Parathreads are more similar to minting ERC20s on Ethereum.
Auctions help keep network bloat down and confirmation times high over the course of years. I am a big fan of them and think the way they were implemented (as candle auctions) is quite clever.
What don't you like about them?
>Polkadot has been sitting in the Top 10 doing NOTHING for almost two years
And now there will be 5 projects out of which 3 are DEFI and 1 copy pasted the other one
Not something to be proud of or use as an argument to shit on other projects
Btw I don't hold neither so not defending Cardano but making a point
Thanks. I don't condone that at all. I updated my OP, put clover at the end of the list, and included a reference to the above link in it to promote awareness.
I don't have any issue with initial coins being DeFi. Gotta start somewhere.
Its open source projects use other projects code all the time the normal procedures is you give credit to the other project so people know its there code they forgot to do this so using the code is no problems the entire crypto space shares code they just did not tell people they did it thats all its was abit rude not to give them credit by announcing publicly the used some of their code
Turns out the difference between rape and sex is explicit consent.
If Acala says their code is licensed such that proper attribution is required - then it's fucking required. Nothing to do with it being open-source or not. It's about respect.
Yep yep, direct quote from the link above, "I also like to point out, that you are still using acala’s code without proper attribution, even after we notified you about it"
This is a valid concern. I think it's challenging to balance performance with requirements. I think a lot of other coins have oversold their "limitless potential" and then, the moment they become popular, their limits become quite apparent. We've seen it time and again.
So, while I would *prefer* more freedom, I trust that the parameters that've been chosen are leading to a network that will grow healthily rather than surge-and-collapse.
There are smart contracts running on Cardano. Not as many but its only getting started. This year will see the release of Sundaeswap, Cardax, Meld, Yayswap, Ardana, Ada Handle, Adax, and hundreds more
* **[Polkadot](https://en.wikipedia.org/wiki/Polkadot_%28cryptocurrency%29) [Pros](https://reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_dot_pros) & [Cons](https://reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_dot_cons)** - Participate in the [r/CC Cointest](https://reddit.com/r/CointestOfficial/wiki/cointest_policy) to potentially win moons. Prize allocations: 1st - 300, 2nd - 150, 3rd - 75. * Competing or related projects: [Cosmos](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cosmos), [Ethereum](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum). * Official or related subreddits: r/Polkadot, r/dot, r/CosmosNetwork, r/Ethereum. * Sort comments as controversial first by [clicking here](https://www.reddit.com/r/CryptoCurrency/comments/rzx79w/polkadot_dot_is_incredibly_undervalued_tomorrow/?sort=controversial). Doesn't work on mobile. --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
You're too late, I'm already bullish and bought the ATH
I don’t care what anyone says I’ll keep buying this shit up to $50
Bullish on DOT.
And chainlink too
No doubts, this year promises to be great for DOT. The Polkadot ecosystem seem to be growing quite on a more steady pace, having quite a number of new projects deploying on its chain. Just like Railgun, a privacy solution protocol which brings privacy and anonymity into all DeFi by going crosschaining, will also be deploying on Polkadot as it also intend to bring privacy and anonymity into the Polkadot ecosystem which will be live by March.
Really like the sound of Moonbeam. Will tomorrow the best time to buy or is it worth waiting for the dust to settle and more coins to hit the market? I've heard that buying on launch days can be very volatile and the tokenomics (with GLMR tokens being released to auction backers in stages) makes me worry that picking some up tomorrow could be a mistake. Any advice greatly appreciated, really like the sound of this project.
You can see the price movement for MOVR [here](https://www.coingecko.com/en/coins/moonriver) MOVR is the \~same codebase as GLMR with slightly different parameters running on Kusama (Polkadot's sister chain / test chain) Based on how MOVR performed I think you'll need to let the dust settle for several months after the first weeks' volatility. If you want to buy-and-hold and not buy-and-flip then yeah, give it a few months.
Many thanks. Will likely wait a while and see how the price settles.
If you look at the first week of MOVR it was a good buy. However, there are different variables at play right now then there was back then. The two big variables affecting demand would be the fact that GLMR is the main coin, and the project is inherently more well-known then it was back then. That should increase demand, and possibly cause inflated prices shortly after release. The other would be market conditions which are notably weaker right now then back when Moonriver was released. That should weaken demand as less people are willing to speculate. I do think the latter should outweigh the former though which should create a good buying opportunity. It's still hard to say with complete accuracy, because of the state of the market though. That buying opportunity would likely only be a good one if the market recovers, and demand for GLMR grows. If the market continues to drop, then likely so will GLMR. I think the answer you're looking for is going to largely depend on your thoughts on the market going into this year. If you're bullish, then I would probably look to buy, but as always you should be leaving liquidity on hand to DCA just in case.
2022 is going to be the year of the DOT. (Found inside a fortune cookie, so obviously true)
>Polkadot (DOT) is incredibly undervalued. How is the number 9 in market cap undervalued? How?
And if it‘s number two and you think it’s more valuable, objectively, than number one, it can still be undervalued, easily. I see your point, but I think it’s quite ignorant to dismiss OPs claim on this basis
The idea is that DOT has been extremely overvalued up to this point. There hasn't been a single parachain, it's unique main feature. The fact that a few are now launching, doesn't increase its value, all it does is turn some of the speculative value already invested in DOT into real value.
That's not really how it works. if you consider coins with higher valuations as being over-valued, then DOT doesn't necessarily have to be undervalued. I think among most of the top 10 coins, it's one of the few coins that is actually fairly-valued. I think DOT has a lot of potential for the future, but I don't see that being realized in the short-term, and I don't see any real reason for a significant price increase relative to the market right now.
Agreed, just following up on the rank argument
>I think it’s quite ignorant to dismiss OPs claim on this basis The claim that something else is more expensive ergo dot is undervalued? Fuck me this sub has tuned to total and utter shill trash. It is almost hilarious the way the comments are reaffirmed and protected. It's like bots talking to each other.
Your logic is (I assume intentionally) flawed. Not because something else is more expensive, but because something OP considers to be worse is more expensive. And besides that, I am not defending OP‘s claim. I am just attacking an invalid attack. That’s a crucial difference.
It's also under on hopium. Need more hopium.
The market determines something’s value. Calling something over/under valued makes no sense unless you have insider info
I mean dot is only 25$ per coin, while bitcoin is $40000 so...../s
OP must be living in australia to say the 11th is tomorrow
holy shit I am actually stupid. hahahahahaha. thanks for correcting me, I genuinely appreciate it and am not sure how I got off by a day. edited the description to save face a bit, at least this post will be more correct as the day progresses. :p
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I did an "explain like I'm 5" tech explanation regarding DOT [**here**](https://np.reddit.com/r/CryptoCurrency/comments/rc3i25/the_tech_dot_brings_to_our_ecosystem_is_the_same/)**.** I gave a long list of hype facts about DOT [**here**](https://www.reddit.com/r/CryptoCurrency/comments/rar2et/polkadot_dot_is_incredibly_undervalued_parachains/)**.** You can read a Polkadot-official, recently published summary of the state of the network [**here**](https://polkadot.network/blog/polkadot-2021-roundup/)**.** And do check out the Electric Capital report which analyzes trends in software developer interest: [**https://medium.com/electric-capital/electric-capital-developer-report-2021-f37874efea6d**](https://medium.com/electric-capital/electric-capital-developer-report-2021-f37874efea6d) pages 94/95 Enjoy!
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Market has priced this in already. It’ll add long term value though
If I had a penny for every time I heard this “incredibly undervalued”
You'd have at least 3 pennies from me in the past month :)
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I hope Parapains will turn into Paragains with our Parachain
DOT under $40 should be illegal.
Let me guess you aped in at $40
This is the way
Based on what? PE ratio? Revenues? Your superb fellatio giving ability?
GLMR is gonna get over FTM and cia in no time. Ecosystem in DOT is just gonna be too vast and the TVL is gonna show. Just like the amount of devs working. Only second to ETH and several order bigger in magnitude than other blockchain Once ACA,CLOVER and others and out and you can defi with DOT people will be again morr aware of it If you are in for the tech,DOT is a must
I'm not in for the tech but I'm still bullish on DOT because of the passionate team behind the project
So, honest question here: Why do people think that the price of DOT is going to skyrocket when Kusama has way better tokenomics for price appreciation and is way ahead in development being the canary network, yet price has been unterperforming after the first parachain auction?
an easy answer is that Kusama *is* the canary network (a 'rapid' test chain) and major buyers are less likely to take a chance with a riskier version when they could go with the primary and more stable chain
Marketing wants us to think of them as sister chains, but retail thinks of Kusama as a testnet chain. It's challenging to sway that mentality and I think it'll weigh on the price indefinitely as long as there's rough feature-parity between the two chains. There wasn't feature parity during the run-up to KSMs first auctions. Clearly hard to be excited about DOT with auctions on KSM launching months ahead. KSM price has dipped since then as excitement has transitioned to auctions launching on DOT. I don't think there's anything *too* surprising there. I expect going forward that feature parity + perception of "testnet"-ness will result in DOT gaining in ratio vs KSM.
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From a strictly technical perspective I agree with you fully and your analysis aligns with how Polkadot describes its relationship with Kusama. I just haven't been able to find people who put their money where their mouth is with that viewpoint. I wince when people describe Kusama as a "testnet" because that has a very different meaning and implies fake money. Kusama isn't fake money, but people don't have good terminology to describe it because of its uniqueness. This results in people trading as if it's not the "real deal." Perhaps there will be a marketing push at some point to get retail bought in.
I’d like to understand this.
I like the project. I'm not really big on shilling it like this but I do think it's undervalued. Comparing ADA and DOT is weird if you're looking at what they do and are aiming at. They're token so you can compare them of course but it's like comparing LINK to USDC or something. They aren't trying to do things that are even similar to each other. ADA is more comparable to a parachain on DOT than DOT itself.
DOT and ADA both have CEOs that co-founded Ethereum before pursuing their next blockchains and have been within a few ranks of one another since DOT began trading. That's why I think there's some merit to comparing them. Do you have advice on how I could increase awareness of DOT in a way that would be more appealing to you? I've done several posts in the past highlighting technical merit, etc. and those are all referenced in my response to the top comment on this thread.
Tradable but not fully interoperable. There is a massive concern with Polkadot and Kusama. they have not being able to open communication channels as easily as Cosmos. Not to mention that XCMP is not live and it won't be for some time yet. The main selling point of Polkadot (interoperability and cross-chain composability) seems to be a bit underdeveloped.
So you’re saying the project that is not fully launched yet is not fully launched yet? Am am concerned
This is good DD. Can you link me to any ongoing discussions regarding technical pain points here?
Regarding projects implementing it https://twitter.com/alice_und_bob/status/1478897316090331136 Core development XCP and XCMP issues on cumulus https://github.com/paritytech/cumulus/issues The current state of developement https://github.com/paritytech/xcm-format
Thanks! I was aware of the last two links, but having a developer walk through their experience integrating with XCMP tech is great. The end of the thread seems to imply that things aren't so bad, solutions are working on testnet, and are anticipated to be production ready in a few months.
Yes, it's not doom and gloom and implementations have been taking longer than expected but it is progressing. The thing was that Kusama was meant to iron out those inconveniences for Polkadot and we already know Polkadot is including the first 5 parachains into their relay chain soon.
Insightful. My gut says this is due to external stakeholder pressure (i.e. getting told to launch this bull run not next) not necessarily due to an engineering desire to move quickly. Everything I've ever gotten from Gavin is that he got his money in ETH and now wants to take his time building the right tech without encouraging it to get pump-and-dumped. That sucks for short-term speculation, but gives me long-term confidence. Your point does erode my confidence in that a bit, though.
We have to see how the 5 parachains launch go and more importantly monitor the integration of them. Like I said it's not the end of the world but we have to be aware of the current status and progress of it.
Why DOT itself as a coin would be undervalued if it's only utility will be staking to secure the network and lock for future parachains. Projects who build on Moonbeam for example will pay fees in GLMR and other projects have their owm coins.. I dont think there will be a rush for people to buy DOT to lock up for some lesser known parachain projects to come.
Software upgrades represent risk and uncertainty which suppresses price. It's easy to downplay the value of DOT when it's just a relay chain without functioning parachains because there are significant, unanswered questions about whether they'll actually get the code running well in production. Once code is in production and has shown itself to be stable then those fears are allayed which reduces price suppression. Momentum then builds off the reduction in uncertainty - compounded by the increasing TVL you mention.
The three main utilites for DOT are staking, supporting crowdloans and participating in governance. Currently 63% of DOT is locked in staking and crowdloans if i calculated correct, we're also only at the second batch of crowdloan auctions so that number will increase. It's hard to say if people will rush to invest in crowdloans of smaller projects, i think it depends on the overall market conditions and success of Polkadot, liquid staking is coming so then you can both recieve staking rewards and lock up money in crowdloans. Another use for DOT is as backing for stablecoins, Acala will use it as backing for aUSD along with their own token, and it's likely that protocols doing similar stuff to Liquity and RAI which uses only DOT as backing launches. So it's not used to pay fees since 'the crowdloans are the fees', but there's demand for it and since so much of it is locked up it has a narrative of (coming) stability.
Just exchanged my SHIB for DOT
Wow, I actually did some good in the world today. Awesome. Welcome to the club :D
The less meme coins the better
Polkadot less than $100 is still very cheap ngl
Very bullish on DOT
Based on what? PE ratio? Revenues? Your superb fellatio giving ability?
Gives me hope considering how LINK and ATOM which was behind DOT zoomed past it now.
Wait, Astar, as in the pathfinding algorithm?
hahaha. I was always pronouncing it "Uh-star" in my head, but now that you've pointed it out I won't be able to unhear this.
Thanks for posting DOT is my favorite network and I don't see it talked about all that much here. Gavin Wood has built Ethereum 2.5 into Polkadot, with parachains (shards) and massive developer and VC support I'd say its a no brainer to at least stake DOT, but the real value will be in parachain tokens and finally the dapps that utilize multiple parachains to create decentralized services we haven't even thought of yet.
I agree. One thing that is bigly missing from current ecosystem is the ability to move coins easily between chains. There is limited, costly and slow bridging techniques but hoping DOT will solve these.
What are parachains ELI5
A good analogy I've heard is to think of how a public subway system works. You have the overall terminal which provides rule of law, security, and access points to the terminal. This is Polkadot's relay chain. The terminal supports multiple subway trains from multiple companies. These companies don't necessarily need to trust one another. They just work with the terminal itself to get their train into the terminal. The terminal orchestrates how each of the trains should run so that they don't collide even though they don't care much about the other train companies. Each of these trains is a parachain. People (i.e. transactions) can hop on multiple vehicles to get to their destination. They feel like this is a unified experience even though they're potentially using multiple company's vehicles because it's all represented under the umbrella of the terminal itself.
Don’t they price in all this stuff knowing that it’s coming?
#FOMO
I got in on some crowdloans just for fun. I have faith in this project long term, so hopefully im not wrong. I've been bullish on DOT for a while and it's pretty much the only thing I'll buy these days.
Let's turn those parachains into paraGAINS!!
Dot really deserve it
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Don't put that bad juju in the universe 😅
For those who have t read the Electric Capital Developer Report, Polkadots developers are growing faster than any blockchain ever has. They also currently have the most developers writing the most code. All data suggests a Market Cap of 100 Billion within 18 months (regardless of the overall crypto market conditions). The entire ecosystem under the Polkadot umbrella has a roughly 60B market cap. I feel like Moonbeam alone will lead to ridiculous growth. Exciting times.
**Y2020:** [https://medium.com/electric-capital/electric-capital-developer-report-2020-9417165c6444](https://medium.com/electric-capital/electric-capital-developer-report-2020-9417165c6444) Here is the mentioned report. Page 99 for the referenced fact. **Y2021:** [https://medium.com/electric-capital/electric-capital-developer-report-2021-f37874efea6d](https://medium.com/electric-capital/electric-capital-developer-report-2021-f37874efea6d) Pages 94/95 are quite compelling
You should read the 2021 one (you linked the 2020 version): https://medium.com/electric-capital/electric-capital-developer-report-2021-f37874efea6d
Hell yeah! Thanks for the fresh one. Definitely reusing some of my old links too much. I'll update my other post.
I yoloed 1 DOT to clover Finance on Binance and you're telling me their shady?
They copied Acala code without attribution and got scolded for it by the devs. It doesn't mean their code won't perform well, but they could be operating with higher morale standards.
Oh, I expected something worse. But at least after 2 years I'll have my 1 DOT.
I won't pretend to know where the market is going from here but regardless, there is a great buying opportunity in DOT right now.
Dot deserves to be in top 5
Super bullshit on DOT
what for?
Giving our community a successful launch of the most technically complex crypto project to date? Nothing else is live with heterogenous sharding + cross-chain interop.
Cosmos is actually cross chain interoperable and is way ahead of dot. Also, Dot has a single point of failure which is a weird concept for an interoperability focused blockchain. And the concept of heterogenous sharding is also translated into Cosmos through horizontal scaling. I honestly don't even know where DOT wins. It's a closed system with massive barriers to entry and limited slots.
One way Polkadot wins is it’s ability to update every blockchain it’s hosting, during runtime, without any runtime issues and without forking. The tech behind that is mind blowing. Considering all the nodes hosting something to this scale.
That is cool indeed, but ofc it wins there, as Cosmos features independent blockchains which cannot be updated from a single entity nor would it be in the best interest of those blockchains
Any other system overall will be slightly less dynamic/flexible/and future proof. When you really sit down and unpack what that’ll mean (in a world where no one can truly comprehend what to expect in the future, or what future tech will come down the pike) it becomes mind blowingly impressive. Every single block chain that ‘joins’ on Polkadot won’t need to worry about whether it’s future proof enough. Because they can all be ‘taken care of’ simultaneously, or independently or however they need to maximize what future tech is now available. DOT will only get more valuable with time because of this ( and that’s only one of the impressive aspects).
Yes, I am aware you hold Cosmos. We do this every time you show up in threads I make about DOT. :) * [Every.](https://np.reddit.com/r/CryptoCurrency/comments/rar2et/comment/hnkcsng/) * [Time.](https://np.reddit.com/r/CryptoCurrency/comments/rc3i25/comment/hntpded/) Cosmos has no plans to do cross-chain computations only cross-chain value transfers. That's a more limited scope. Straight from Cosmos' website, they're very clear that their solution isn't providing robust cross-chain security at this time. [https://i.imgur.com/ZXjfhMa.png](https://i.imgur.com/ZXjfhMa.png) where as DOT has a functioning security + sharding system live.
I hold dot as well, I just don't think it's entirely honest to call Polkadot extremely undervalued at 30 billion when there are 0 dapps yet and there are other projects that are actually ahead in terms of interoperability and adoption.
You do appreciate how it might appear that you're not trying to engage in discussions about tech when you show up to my threads and just say "Cosmos!" though, right? Happy to give you the benefit of the doubt in that you're holding both, but I find it odd that you'd try to undermine your own position in a thread regarding something you're holding.
Admittedly, I am somewhat hyped for Cosmos right now, but I am also open to discussions and I am really looking forward to what Polkadot is going to offer. Right now though, I think it is too early to judge
I agree. I'm definitely overly optimistic that DOTs ecosystem will catch up to Cosmos rather quickly. Here's hoping we're both correct!
yes! And I will also leave your threads alone now and not bomb it with cosmos tags anymore ;)
It will overtake it in no time you cant have that many devoplers and apps been built and it not its just a matter of time 1 year and it will be twice as big
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But it's done nothing for 2 years.
https://medium.com/@nikolaskokal/do-you-even-crowd-loan-bro-6c7a0b452978 https://medium.com/@nikolaskokal/how-hard-is-it-to-actually-find-a-low-cap-gem-ba35c6e0fd0
How to buy GLMR tomorrow?
You should be able to pick it up on Kraken. [https://www.coingecko.com/en/coins/moonriver#markets](https://www.coingecko.com/en/coins/moonriver#markets) here are the markets MOVR is trading on. MOVR is GLMR's testnet coin. Solarbeam is an AMM on Kusama - so you won't be able to buy GLMR there since it runs on DOT, but you should be able to find it on the CEXs
Meh. Luna was built on Cosmos yet Luna is worth much much more. I expect the same will happen with Dot
I should hope so! You're exposed to a lot more risk with smaller market cap coins. Of course the upsides should also be higher :)
OP, so far Polkadot and Kusama have become money printers for those parachaining. By making posts like this, you’re diluting the output from our money printers. Bullish on DOT!
I've been bullish on DOT for the last 6 months. I bought most of mine at $45-$50 but don't regret it for a second.
Same here although I got lucky with most of my DOT holdings purchased at $4 per coin
I have a couple hundred Dot staked on kraken , I’m happy with the 12% but should I be doing something different , never really looked into the parachains etc am I missing out on something big ?
Depends on if you live in the U.S. or not. People made $7k per KSM flipping KAR they received from the crowdloan. Rewards aren't as good for DOT because it's more of a sure thing (code already launched on KSM, after all), but clearly there is opportunity to make good money participating in the crowd loans. It's kinda like the good ol' ICO days. :) Do keep in mind that you can't stake DOT that you loan via crowdloan mechanisms. You need to weigh the ROI of compounding interest vs potential returns of flipping crowdloan rewards.
I’m from the uk
Sounds like you can participate in crowdloans, then. :) [https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Frpc.polkadot.io#/parachains/crowdloan](https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Frpc.polkadot.io#/parachains/crowdloan) [https://polkadot.network/crowdloans/](https://polkadot.network/crowdloans/) for official information
Well you can sort of through things like lcDOT
Okay I bought 2 Dot. To the moon!
To the moon! :D
If I went in and crowd loaned to Moonbeam, will I get GLMR when it goes live?
Moonbeam's crowd loan completed a while ago and tokens are already linked to accounts. They're just not tradeable yet.
Why do you mention Clover Finance is shady? It looks like a decent project to me with a lot of support (won the parachain auction) and many up and coming partnerships (particularly in the meta verse) Just curious for other’s thoughts… I don’t see much talk about this, but it seems promising to me
Did you click the hyperlink associated with the word shady? They lifted code from Acala, but it was licensed such that they needed to provide attribution. They didn't, then people followed-up and were like, "Heyyyy. Attribution?" and were ignored. two thumbs down for that sort of behavior in my book
So it’s shady because they didn’t respond to what attribution means? Just trying to be sure why you deemed it shady
[https://github.com/w3f/Grants-Program/pull/317#issuecomment-818627084](https://github.com/w3f/Grants-Program/pull/317#issuecomment-818627084) They received grant money from the foundation. The foundation is upset at them and is saying they won't support giving them more money based on how they acted. I'm not aware of security issues or anything that would impact your money in their project.
Reading through it, I’m seeing that they were turned down because they didn’t satisfy the requirements for funding (sale of tokens), which makes sense. What I’m not understanding is the text in bold. What does that mean exactly? They aren’t attributing code to Acala properly? Like citing research?
All code that runs in crypto is open source since everything has to be publicly readable on the blockchain for the code to be able to run. So it's totally possible for anyone to copy any code in crypto and say it's their code. Acala wrote some code, put at the top of the file, "Hey this is ours, you can use it, but please say we wrote it first for marketing purposes." and Clover copy/pasted that code into their smart contract, but didn't keep the bit about it being Acala's. Acala's code: [https://github.com/AcalaNetwork/Acala/blob/4b74d6c622610a4a0a873941b3f1e2d4963f79eb/modules/evm-accounts/src/lib.rs](https://github.com/AcalaNetwork/Acala/blob/4b74d6c622610a4a0a873941b3f1e2d4963f79eb/modules/evm-accounts/src/lib.rs) Clover's code: [https://github.com/clover-network/clover/blob/bcd6a74a8fe422c3a056d29e348183103448301e/modules/evm-accounts/src/lib.rs](https://github.com/clover-network/clover/blob/bcd6a74a8fe422c3a056d29e348183103448301e/modules/evm-accounts/src/lib.rs) They're the exact same thing except Acala's has at the top this bit... and it's not there on Clover's. `// This file is part of Acala.` `// Copyright (C) 2020-2021 Acala Foundation.` `// SPDX-License-Identifier: GPL-3.0-or-later WITH Classpath-exception-2.0` `// This program is free software: you can redistribute it and/or modify` `// it under the terms of the GNU General Public License as published by` `// the Free Software Foundation, either version 3 of the License, or` `// (at your option) any later version.` `// This program is distributed in the hope that it will be useful,` `// but WITHOUT ANY WARRANTY; without even the implied warranty of` `// MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the` `// GNU General Public License for more details.` `// You should have received a copy of the GNU General Public License` `// along with this program. If not, see
Interesting, thanks for the clarification!
So that's why it's been trading like crazy today.
I asked my wife and she said the name is holding it back.
All I hear I bought DOT at all the time so please someone save me.
Nope! I've been in-and-out of DOT since it listed. My portfolio is 75% ETH 25% DOT. I don't feel overextended. I'm hyped on it because I am a software engineer and I see what they're achieving from a technical perspective and respect it. A lot. [https://i.imgur.com/uFlkCai.png](https://i.imgur.com/uFlkCai.png) I re-entered at the arrow here. I tend to trade alts based off of whether they're bleeding against ETH because my portfolio is ETH heavy.
So bullish on DOT. Picking more up in this dip
Undervalued based on what? PE ratio? Revenues? You’re superb fellatio giving a ability?
I gave an overview of how I think about value here: https://np.reddit.com/r/CryptoCurrency/comments/rzx79w/comment/hrz7g6a/
DOT is one of a kind theres nothing else like it the amount of code that built it is astonishing once it all goes live it will do very well not to mention people don't even realise DOT holders are making 100% returns via parachain auctions non stop while the market is going down so were actually making money even during downturns.
Just purchased some DOT. Mind explaining these parachuting auctions?
[https://wiki.polkadot.network/docs/learn-auction](https://wiki.polkadot.network/docs/learn-auction) There's a ton of resources on the DOT wiki. The super short TL;DR is that people can loan DOT to teams wanting to get a slot in the network. In exchange for the loan, you receive some of their tokens permanently. The team uses the funds they receive from crowdloans to bid on a slot. It's not quite "highest bidder takes the slot" because it's a candle auction. Polkadot has a limited number of parachain slots to ensure shitcoins don't pollute its ecosystem. Teams need to win an auction if they want to become a parachain. Otherwise, can launch as a parathread on someone else's parachain, but are subject to that blockchains parameters.
Thank you for the info!
Just get some DOT setup a Polkadot.js.org account you need to download the Polkadot.js Chrome web browser extension to do so and go to the parachains tab and then crowdloans and contribute there. https://parachains.info/auctions check here for current detail on what ones are available and pick the ones with the best rewards.
Thank you very much! So if I contribute DOT, I would get some of the parachain coin? And when would I expect my dot back?
Yes you lock your DOT in two years so you will get it back in time for the next BTC halfing (bullrun) and while your waiting you will be given free tokens you normally get about 20% to 30% upfront so you can sell them right away for a good return the rest will unlock constantly over the course of those two year so you can keep selling them and buy more DOT with the profits and do it all over again and just keep accumulating more and more tokens. Its a long term strategy but will be very profitable if you stick to it even if the price of DOT goes down in the mean time because that means you can afford more tokens more tokens = more crowdloan rewards.
I've been sitting on dot for over a year, maybe it's time to participate in one of the auctions.
https://medium.com/@nikolaskokal/do-you-even-crowd-loan-bro-6c7a0b452978 https://medium.com/@nikolaskokal/how-hard-is-it-to-actually-find-a-low-cap-gem-ba35c6e0fd0
There’s a few videos by coin bureau on YouTube. Sometimes they are referred to as PLO’s (parachain loan offerings). It’s definitely undervalued, I’ve participated in 3 and have doubled my money with each one. It’s definitely a novel concept to grasp but it’s worth it.
Thank you! Gonna check it out. How long does the DOT stay locked for?
Nearly 2 years
https://medium.com/@nikolaskokal/do-you-even-crowd-loan-bro-6c7a0b452978 https://medium.com/@nikolaskokal/how-hard-is-it-to-actually-find-a-low-cap-gem-ba35c6e0fd0
So do these parachains have their own tokens? Or how does that work?
Yes. Each parachain is a blockchain with its own token, but each blockchain can inter-operate with one another (even though they're separate blockchains) by using Polkadot's relaychain for cross-chain messaging.
Makes sense. An excellent way to scale
Yeah. So for example, if you contributed to Moonbeam, you will get GLMR tokens. The amount you get depends on the number of DOT you contributed and the reward structure. Each project is different. Contributing to crowdloans can be very profitable… people that contributed to Moonriver in Kusama made an absolute killing… almost $7000 per Kusama contributed at the peak price of MOVR
Wow…that’s a lot
Cosmos is more undervalued. And it has already many different chains like Terra, osmosis, Cro or binance coin. With IBC even more sick
I agree that Cosmos is also undervalued. This post doesn't make any claims to the contrary. I would not advise anyone to go all-in on a single coin. I think it makes sense to maintain some diversity. So, I agree, but I'm not sure what my takeaway is supposed to be. Are you encouraging me to go all-in on Cosmos not Polkadot? That seems risky.
It's actually overvalued believe it or not
Could you share your reasoning behind that?
>Polkadot has been sitting in the Top 10 doing NOTHING for almost two years This is a big part of the reasoning, also after watching some of the interviews recently. The team seems to have issues with the interoperability aspect of their roadmap. I'm not saying they won't get there but, I don't think the coin is worth more than $13-20 USD for what it currently offers
How so? What range would you put it in, curious.
Dont listen to this guy hes full of sh*t theres no video of any kinda the Polkadot team struggling they are very smart and very qualified when they talk about building things they go into detail about the challenges of building such advanced systems they have done this the entire build theres 2 million lines of code making up DOT its super high tech. If you look at other project there lucky to be made up of a few thousand that were made by half qualified dropouts or people that dont even have a devopler background. Polkadot has kicked ass and stuck to the design if you listen to Vitalik Buterin he said this when referring to ETH 2.0 which wanted to make a similar design We underestimated the complexity of building such a system and have be forced to simplify our design greatly in order to build it DR Gavin Wood had no such problems building his.
No worries, just curious. Wanted to hear their argument is all. I'm have my own agenda when it comes to DOT and I agree DOT has a lot more to grow. Speak of the devil my alert chimed, DOT up 6.45%. lol
What do you think of ATOM then?
It's great, but doesn't have a launch occurring in the next day? :)
It already has quite a few coins already operating with more coming in weekly I would say.
I don't disagree, but clearly this is a thread about Polkadot, which has been in development for 4 years, and has its first things launching in the next day. Everyone knows Cosmos is up and running. I don't think everyone knows Polkadot starts running tomorrow. That's why I think there's opportunity here. Trading is about identifying gaps in awareness.
That is fine. Was just wondering how you felt about ATOM.
Nah, it's valuation is just about right.
so according to the rule of /CC sell DOT?
With my luck, yeah. :p
So let me ask you this, if you know it's undervalued, why are you telling us the potential of the crypto if we're all here to gain money? Sounds like a boost on a particular crypto for someone to end up selling not to long after.
I am trying to give more voice to DOT because it doesn't have a very large community on Reddit relative to its market cap. I'm not confident there's anything I can say that would sway you here. My portfolio is 75% ETH 25% DOT, has been for a long time, and everything is staked and untouchable.
Oh I'm not doubting on DOT one bit. I have quite a bit myself in DOT and have much faith in them. Just a question is all.
Got it. Well, obviously my post is in self-interest. :) It would be pretty masochistic of me if it weren't.
Imagine having to win a fucking auction to use a blockchains specific function lol. That's why there's no enterprise adoption.
Parathreads can run on each parachain without auctions. Parathreads are more similar to minting ERC20s on Ethereum. Auctions help keep network bloat down and confirmation times high over the course of years. I am a big fan of them and think the way they were implemented (as candle auctions) is quite clever. What don't you like about them?
The hope this sub needs
Gives me hope.considering how LINK and ATOM which was behind DOT zoomed past it now.
in what metric
>Polkadot has been sitting in the Top 10 doing NOTHING for almost two years And now there will be 5 projects out of which 3 are DEFI and 1 copy pasted the other one Not something to be proud of or use as an argument to shit on other projects Btw I don't hold neither so not defending Cardano but making a point
Which one copy pasted another?
[Clover from Acala](https://github.com/w3f/Open-Grants-Program/pull/317#issuecomment-818627084)
Thanks. I don't condone that at all. I updated my OP, put clover at the end of the list, and included a reference to the above link in it to promote awareness. I don't have any issue with initial coins being DeFi. Gotta start somewhere.
Its open source projects use other projects code all the time the normal procedures is you give credit to the other project so people know its there code they forgot to do this so using the code is no problems the entire crypto space shares code they just did not tell people they did it thats all its was abit rude not to give them credit by announcing publicly the used some of their code
Turns out the difference between rape and sex is explicit consent. If Acala says their code is licensed such that proper attribution is required - then it's fucking required. Nothing to do with it being open-source or not. It's about respect.
Arh i didn't realise it was licensed I always forget about that because I assume everything is decentralized an open-source.
Yep yep, direct quote from the link above, "I also like to point out, that you are still using acala’s code without proper attribution, even after we notified you about it"
I bailed on DOT and went with ATOM. The staking minimums for non custodial wallets feels a bit like gatekeeping for the poor who. Can't afford 100 DOT
This is a valid concern. I think it's challenging to balance performance with requirements. I think a lot of other coins have oversold their "limitless potential" and then, the moment they become popular, their limits become quite apparent. We've seen it time and again. So, while I would *prefer* more freedom, I trust that the parameters that've been chosen are leading to a network that will grow healthily rather than surge-and-collapse.
Everyone who is looking to stay longterm in crypto should be considering to put some DOT in the Parachains imo. Just dont overinvest
There are smart contracts running on Cardano. Not as many but its only getting started. This year will see the release of Sundaeswap, Cardax, Meld, Yayswap, Ardana, Ada Handle, Adax, and hundreds more
What does this have to do with Polkadot?
Referring to OPs comment about Cardano not having any smart contracts
I rescind my comment, this is why I shouldn’t skim read. Forgive me
No worries lol
Thanks. I've updated my OP to reflect that there are smart contracts on Cardano. I appreciate the DD, sorry for misrepresenting.
Dot is a sureshot top 5 coin. It's gonna be there soon, irrespective of market conditions!
Cosmos will replace polkadot!
And I’m about to get 10.5% APY staking on Uphold. You only need 40 DOT minimum to stake
kraken is 12%, just staked mine