To keep this short, it's now very public knowledge that Diem is no longer being pursued by FB and therefore the fundamentals have decreased for DOT. I still remain bullish on DOT but this is likely going to play out over a longer period of time. I would diversify into market leaders like SOL in the meantime and get some exposure to this top project as I've spoken to some developers and they speak about the ease of use with Solana's programming language which is a game changer in terms of onboarding legacy developers into the crypto world.
HI, im sorry, what does FB have to do with Polkadot?
nigelgjones
⋅
@nigelgjones, its difficult to see how much the demise of Diem will have on Polkadot, I'm not sure the relationship was very well known anyway ( I didn't actually know about it until I Googled just now) and I think Polkadot is waaay more than an experimental Facebook protocol that has now bitten the dust. I don't think the DIEM Polkadot news made the price appreciate much at the time so perhaps the demise of Diem will have little negative impact on the price of Dot as it goes down. Who knows? I think protocols like SOL and COSMOS however are apparently more user friendly that Polkdaot according to developers. However that could mean that its easier to put together a horse racing game on SOL or COSMOS rather than an enterprise solution. Also SOL has had its fair share of problems. I don't believe the fundamentals of DOT were dependent on DIEM... but wtfdik
ich1baN
⋅
@yoshi420, FB was developing Diem which had a major inroad with PolkaDot which means there was a fundamental driver to increase adoption on PolkaDot in a very clear manner. As I said, it's 1 fundamental but it's no longer in place and I've written about it quite a lot on here as how it would be a major driver of DOT adoption. Still bullish DOT but not AS bullish as I once was.
nigelgjones
⋅
@ich1baN, yep fair enough I don't really know the full story tbh.
ich1baN
⋅
@nigelgjones, np... it's probably not as big of a factor as I'm making it out to be, to be fair b/c almost no one really knew about it nor were they pricing in the potential value of FB's network into DOT... but it does seem DOT's development is a little behind the other L1s (still macro bullish though).