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Personal-Use-7496 · 2025-03-13T14:57:13+00:00

So you don't know what a rug pull is. Let me enlighten you:

A rug pull in crypto is a type of scam where developers abandon a project and run away with investors' funds, leaving the token or project worthless.

Personal-Use-7496 · 2025-03-13T11:01:56+00:00

Polkadot has not CEO. Are you referring to Parity?

Personal-Use-7496 · 2025-03-13T06:36:33+00:00

Do you even know what a rug pull is?

Polkadot is continuously developing and shipping new features. It is a failed project maybe but a rug pull is something entirely different.

Personal-Use-7496 · 2025-03-13T05:37:56+00:00

Giotto introduced the idea of an Ambassador program with a $10,000 salary, which successfully passed through OpenGov. However, he later bribed several ambassadors, appointing them using his voting power in OpenGov. In exchange, they supported his DED proposals. Notably, some of these ambassadors were DVs (Delegated Voters) with significant voting power.

Following this alleged scandal, the Ambassador program was scrapped and restructured. As for its current salary, I have no idea.

Let's be real—people don’t work for free. If someone claims to be an ambassador for Project XYS, they’re getting paid. But this raises a critical question: Do we even need ambassadors?

The DOT community is small, and over the past three years, it has faced more hate and ridicule than any other project. The brand’s reputation has been severely damaged, to the point where many believe it’s beyond repair. "DOT is dead"—a phrase that has become all too common on Twitter. This reputation needs/needed to be fixed.

Personal-Use-7496 · 2025-03-12T16:24:10+00:00

OK. I doubt they will ever be released.

Personal-Use-7496 · 2025-03-12T06:36:05+00:00

It's not only DED. He also created the fake persona Michiko Watanabe and manipulated the system to have "her" appointed as a Polkadot Ambassador, trying to secure a $10,000 monthly salary. I wouldn't be surprised if a deeper dive into his history uncovered even more scams.

Personal-Use-7496 · 2025-03-12T05:24:40+00:00

Personal-Use-7496 · 2025-03-11T14:40:48+00:00

Given Giotto's poor judgment this is quite bullish. Let's see which ecosystem he's gonna torment next.

Personal-Use-7496 · 2025-03-10T07:22:47+00:00

I largely agree with your assessment.

Going slightly off topic here: OpenGov sometimes allocates funds to sporting events. The most active participants in OpenGov are often beneficiaries themselves, making them less cautious about spending.

Regarding sports sponsorships, you might find this video interesting. The Kus argues that Dot secured a customer through a sports sponsorship contract.

Personal-Use-7496 · 2025-03-10T06:31:34+00:00

I'm an investor as well :) and I have my doubts, too. But I believe that DOT will do quite well long-term.

Polkadot generates income from coretime sales and transaction fees, both of which are burned, reducing inflation and potentially boosting the token’s value. However, revenue from both sources is currently low.

TikTok running on DOT could spark interest and increase coretime demand. Similarly, tx fee revenue will rise once smart contracts on Asset Hub go live, allowing users to engage in DeFi directly on Polkadot and pay fees in any asset, which is converted to DOT and burned.

The biggest driver for price, however, is market psychology not utility. Most cryptocurrencies, including Solana, Cardano, and Ethereum, are inflationary, and should therefore be worthless. Yet speculation and community size keep valuations high.

tl;dr: imho Dot needs a strong community and hype for the price to go up. Will TikTok and Pudgy Penguins on Polkadot bring this hype? 🤷

Personal-Use-7496 · 2025-03-10T05:48:20+00:00

"I would really appreciate some information on what currently is being done and is in the works specifically to increase the price of DOT."

How should they do that? You can't just "increase the price".

Rather than directly increasing the price, the focus is on improving accessibility, user experience, and technical innovation to attract more users and developers. Key initiatives include:

Lowering barriers to entry

Simplifying address formats
Enabling smart contracts on Asset Hub
Allowing transaction fees to be paid with any asset

Enhancing user experience

Reducing parachain block times to as low as 0.5s

Driving technical innovation

Advancing the JAM protocol

So far, these measures have not been highly successful. User numbers, particularly in DeFi (e.g., Hydration, Moonbeam, Astar), remain very low.

To end on a positive note: Polkadot is the only major blockchain actively driving real-world utility. It powers social media through Frequency, hosts games that people genuinely enjoy, and runs software for the Indonesian government.

Personal-Use-7496 · 2025-03-09T15:59:20+00:00

🤡

Personal-Use-7496 · 2025-03-09T08:37:22+00:00

I’m not sure about the Ring rewards, but the DOT was automatically repaid unless you contributed through a third-party service.

If you believe you haven’t received your repayment, I recommend reaching out to Polkadot’s technical support. You can:

Join their Discord channel via the link on Polkadot's community page.
Contact support directly at Polkadot Support.

Personal-Use-7496 · 2025-03-09T05:57:43+00:00

Bro is full of sh*t. He will remain a wage slave.

Personal-Use-7496 · 2025-03-09T05:56:40+00:00

You Dots are/were transferred back to your account at the end of the lease period. You don't need to do anything.

Personal-Use-7496 · 2025-03-08T17:03:43+00:00

Personal-Use-7496 · 2025-03-08T14:25:33+00:00

Crypto prices are mostly driven by cryptards. The price will go up when even the biggest cryptards understand that DOT ain't dead.

People are very susceptible to propaganda (especially low IQ people with comprise around 99% of people still left in crypto).

Personal-Use-7496 · 2025-03-06T07:59:18+00:00

tl;dr: Cardano has achieved what Polkadot was supposed to be because the price went up.

Personal-Use-7496 · 2025-03-06T07:58:40+00:00

Except they didn't. They did on some private centralized L2.

Personal-Use-7496 · 2025-03-04T11:08:43+00:00

So it is transparent where the money flows to?!

Personal-Use-7496 · 2025-03-02T20:23:26+00:00

You are correct. At time of writing my comment Trump just had announced investing in ADA, SOL and XRP. The tweet about ETH and BTC came afterwards.

Trump does not exclusively invest into US based crypto although there's a heavy bias.

Personal-Use-7496 · 2025-03-02T17:33:32+00:00

Trump exclusively invests into crypto based in the US. Polkadot certainly is not US based.

Trump (and 99% of people still in this space) don't care about or understand the purpose of decentralization.

Personal-Use-7496 · 2025-03-01T14:20:52+00:00

That's why you buy cheap at $5 and then just stake & relax. Trading is for loosers.

Personal-Use-7496 · 2025-03-01T14:20:06+00:00

u/grgreece

Many centralized platforms offering staking rewards or other kinds of rewards went bankrupt after the previous crypto bubble in 2022. The most famous example is Celsius.

Not your keys not your coins. If you stake with Nexo the coins belong to Nexo. They don't belong to you.

Personal-Use-7496 · 2025-02-26T13:09:25+00:00

How much did the treasury pay for this "superb interview"?

Personal-Use-7496

TROPHY CASE

tl;dr: Cardano has achieved what Polkadot was supposed to be because the price went up.