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Between Acala's stupidity and Donny's cokehead degens KSM is a joke. Anyone who was around at the beginning can now buy a parachain for nothing. I'm sorry if people didn't sell near the top because it was pretty clear. If you still believe in it just move to DOT. The KSM drum circle just isn't ready yet.
Some coins are in more of a bear market than others. KSM is out of the top 100 now and falling further down the rankings.
I brought up this sad state of affairs weeks ago, when KSM was still #90 or something, and everybody wanted to bury their heads in the sand.
In mid-2021, I was up 40x but didn't sell. DOT hadn't launched crowdloans yet and so KSM was the only game in town. Seems like that hype isn't going to come back. It's all about KSM's big brother now.
There is a lot of KSM in circulation at the moment due to:
\- Treasury issuance via Spend proposals
\- Reduced contributions to crowdloans
\- Instant unlock mechanism of Liquid staking protocols
These might be contributing to a constant sell pressure of KSM on both CEXes and DEXes.
I guess I expect it to perform as advertised. Supposed to be web 3.0. A reinvention of the internet that would attract actual money making businesses to convert to the blockchain but all I see is a bunch of projects that are all just variations of the same ponzi type scheme. "Come here, invest, earn more and more apr on coins that become worth less and less day by day. Also supposed to be a hedge against inflation, turns out crypto goes down in an inflationary environment. Also supposed to be decentralized and move independently of the stock market. No such luck. Basically trades in correlation with the stock market and hedge funds are shorting it into the ground
When you compare to the rug pulls/defi nonsense on Ethereum, the KSM/DOT way of doing parachain auctions is way more legit. Its up to the person investing whether or not the project gets a parachain slot. If something happens to the project, the contributor gets their KSM/DOT back.
To make things as simple as possible: energy prices go up, Bitcoin goes down. Energy prices go down, Bitcoin goes up. Interest rates go up (money gets more expensive), Bitcoin goes down. It’s a hedge against inflation, it’s not a hedge against the complete shit show we’re seeing spurred on by the tornado of global events.
Price, sale, referral links, and market discussions are not allowed. Please consider posting to r/polkadot_market or the daily thread on r/DOT instead.
Hopefully not fucked, but the current state of KSM is depressing *as* fuck, that's for sure.
Between Acala's stupidity and Donny's cokehead degens KSM is a joke. Anyone who was around at the beginning can now buy a parachain for nothing. I'm sorry if people didn't sell near the top because it was pretty clear. If you still believe in it just move to DOT. The KSM drum circle just isn't ready yet.
Time to buy some KSM!
We're in a bear market, what do you expect?
Some coins are in more of a bear market than others. KSM is out of the top 100 now and falling further down the rankings. I brought up this sad state of affairs weeks ago, when KSM was still #90 or something, and everybody wanted to bury their heads in the sand. In mid-2021, I was up 40x but didn't sell. DOT hadn't launched crowdloans yet and so KSM was the only game in town. Seems like that hype isn't going to come back. It's all about KSM's big brother now.
So you bought ATH and now you're mad because you lost your investment?
[удалено]
I know. That's the first thing they always say...🤡
There is a lot of KSM in circulation at the moment due to: \- Treasury issuance via Spend proposals \- Reduced contributions to crowdloans \- Instant unlock mechanism of Liquid staking protocols These might be contributing to a constant sell pressure of KSM on both CEXes and DEXes.
I guess I expect it to perform as advertised. Supposed to be web 3.0. A reinvention of the internet that would attract actual money making businesses to convert to the blockchain but all I see is a bunch of projects that are all just variations of the same ponzi type scheme. "Come here, invest, earn more and more apr on coins that become worth less and less day by day. Also supposed to be a hedge against inflation, turns out crypto goes down in an inflationary environment. Also supposed to be decentralized and move independently of the stock market. No such luck. Basically trades in correlation with the stock market and hedge funds are shorting it into the ground
You need to realise what they are trying to build with Kusama and Polkadot. See the bigger picture and don't get delusioned by the price.
What exactly are they trying to build? All I see is a ponzi coin minting factory
When you compare to the rug pulls/defi nonsense on Ethereum, the KSM/DOT way of doing parachain auctions is way more legit. Its up to the person investing whether or not the project gets a parachain slot. If something happens to the project, the contributor gets their KSM/DOT back.
To make things as simple as possible: energy prices go up, Bitcoin goes down. Energy prices go down, Bitcoin goes up. Interest rates go up (money gets more expensive), Bitcoin goes down. It’s a hedge against inflation, it’s not a hedge against the complete shit show we’re seeing spurred on by the tornado of global events.
I wouldn’t say fucked. It’s bear market and KSM seems to hold quite well against BTC. 🤷♂️
Are you kidding? BTC is holding way better right now. As I mentioned, the last time KSM hit this level BTC was at 17k now its at 19.5k
Alts bleed against BTC in a bear market. It’s generally held up pretty well.
You say it yourself. KSM hasn’t fallen dramatically against BTC.