Topic: IOTA - page 217. (Read 1473233 times)

I hope you bought Monero instead 

I've sold everything I own and will never buy a coin with such basic flaws. You can tell I'm doing FUD, I do not care.

Are you referring to ETH and the Parity wallet ? Eth is trading around 300$ right now with almost a 30 billion dollar market cap. This news came out a month or so ago didn't it ? 

1 activity guy spreading FUD, almost fell for it 

As someone who doesn't hold any IOTA I'd like to say I 100% trust CfB's explanation of the Curl-P flaw as copy protection against scammers.  When CfB wrote NXT he intentionally introduced flaws to do the same for that system.  Eventually, he held a contest to allow the community to find and reveal those flaws.  It was a great way to get members of the community to understand the code and what NXT was doing while protecting NXT in the early days from rip-off artists.  Of course he'd do the same to protect IOTA.

Just my 2 cents.

No need to mention MIT next to Neha Narula. I'm sure MIT wouldn't endorse the show started by Neha.

If there is a vulnerability, wouldn't someone exploit the hell out of it right now? Let's say, if IOTA still functions as it is now over a month, is the concern about an alleged bug to be taken serious or are hackers then considered lazy?

In the end, I expect just that happening: IOTA happily existing ever after, just like a Honey Badger not caring about the intensive debates between humans. It is binary as far as I am concerned. Either there is a problem or not. If not, the FUD will wane away over time. If the FUD is reality, the devs need to take action (if not already done so; I read something in this direction).

What do you think about all this fud agaisnt IOTA? What is causing it? Discussion:

https://bitcointalksearch.org/topic/what-if-iota-fud-is-true-2166184

It is so true. The more you think about the timing and the degree of this smear campaign, the more worries and hates you can feel from the other side. Narula's blog virtually was trying to declare the death of IOTA. Isn't finding a bug in a software a good thing for the software's growth because the software becomes better? Why Narula as a science researcher didn't think it this way? Think about it.

See CfB's response - https://goo.gl/v3zEFX

The next Bitcoin won't become number 1 that easy 

be aware of massive FUDs coming up here or on reddit to manipulate the price. Some professional FUDster using the uncertainty after this MIT "research".

Also read the IOTA devs answer to MIT before making any judgement.
Also consider the strong! crypto involvement of the MIT researcher. This was clearly not an objective research (link: https://satoshiwatch.com/coins/iota/in-depth/cryptographic-vulnerabilities-in-iota-a-biased-hit-piece/)

https://www.coindesk.com/broken-hash-function-iota-price-drops-on-tech-critique/

Time to sell short this thing ?

No, it is not a backdoor. Everyone should read this post to know the truth - https://www.reddit.com/r/Iota/comments/6yzm9g/integrity_question_for_come_from_beyond_sergey/dmsxaa5/

In case some people are lazy to open the link, i am quoting CFB's response to the reddit post and questions here which can greatly help us to understand the truth:

"IOTA is a distributed ledger technology. “Distributed” means that the ledger data are spread across numerous computers connected into a network. You, probably, know such phrase as “A system is more than the sum of its parts”. A system emerging from computers connected together possesses properties not seen in a single computer. IOTA as a system has such useful property: several computers may fail, but the others will keep working without problems. IOTA behaves as a single self-healing organism here. Unfortunately, self-healing stops at some point, for IOTA this happens after more than 1/3 of the computers fail. This is not unique to IOTA, other distributed ledger technologies (e.g. Bitcoin) have their threshold of collapse too.

These days IOTA is still small and this opens it to the following attack: an adversary joins IOTA with his computers which take more than 1/3 of IOTA’s body and then makes the computers fail thus triggering IOTA’s collapse. To counteract this attack we are running a set of computers called Coordinator which issues milestones published on IOTA’s tangle. Computers not belonging to an adversary rely on these milestones to detect faulty computers. In this setup IOTA can survive even if 99% of the computers fail.

IOTA is open-source software. In the world controlled by the state open-source software is protected with licenses, someone doing things not allowed by the license can be sued. Cryptocoin industry demonstrated to be very resistant to state regulations, this led to majority of the projects run in this industry to be oriented on scamming ordinary people. IOTA team welcomes attempts to use technology IOTA is based on. This helps IOTA because increases awareness and shows that Tangle is indeed a viable technology. Unfortunately, odds that copies of IOTA codebase will be used for good are very low. We can’t just watch an IOTA clone scamming people and ruining people lives and Tangle’s reputation. This is why a copy-protection mechanism was added from the very beginning.

To explain how the copy-protection works we should recall about existence of Coordinator. Coordinator acts as an ultimate oracle if any uncertainty about the current state of things in IOTA arise. Digital signatures are verified by every computer in IOTA network, if a signature passes the verification routine then it’s, PROBABLY, valid. To make sure that the signature is indeed valid the computer waits for the transaction containing the signature to be referenced by a milestone. This is a perfect place for placing the copy-protection mechanism. While everyone looks at signature verification routine the real verification happens in the routine updating milestones. This trick resembles a focus trick done by magicians on TV. It worked so perfectly, that Neha Narula’s team was fooled despite of me explaining the essence of the trick numerous times.

Now, when we know that all signatures must be endorsed by Coordinator before being accepted as valid, we can move to that part about Curl-P hashing function. Necessity to develop the function was justified. Trinary numeral system is getting off the ground now, today it’s mainly Artificial Neural Networks which already have specialized processing units in development. No doubt, that later we’ll see CPUs doing trinary computations. To avoid derailing my response I won’t be expanding this topic, IOTA blogposts contain all relevant information. Being the creator of Curl-P I knew its properties very well. I changed the number of rounds to allow practical collisions. With Coordinator IOTA’s security depends on one-wayness of Curl-P, without Coordinator the security depends on collision resistance. This is a very important part, it means that your phrase “the Iota development team deliberately introduced faults into the Iota codebase” is WRONG. IOTA is unaffected by collisions in Curl-P, scam-driven clones are.

To provide an answer to your “Are there any other deliberate defects in the Iota source code that have not been disclosed?” is not easy. I disagree with your choice of words (“defects”). If you put the same meaning as I do then my answer is: IOTA doesn’t nor didn’t have known defects. If you mean the copy-protection then my answer is: It’s not smart to answer this question, because in the case of the copy-protection being completely removed my honest answer won’t allow us to exploit uncertainty which may prevent scammers from cloning IOTA.

I think that you misunderstood the situation around Curl-P collisions, a lot of people did too and this is not surprising taking into account sensational tone of Neha Narula’s team blogpost where such boring issue as an intentionally added feature inflated to “The end is near” problem.

I kindly ask you to paraphrase your question extending it to the point where even my little English will allow to get it 100% correctly.

PS: If my explanation wasn’t clear enough, feel free to ask for extra clarification."

This is a good analysis on Narula's blog - https://satoshiwatch.com/coins/iota/in-depth/cryptographic-vulnerabilities-in-iota-a-biased-hit-piece/

buy cheap?are you kidding me?what on earth some guys are so stupid enought to buy a crypto currency that have backdoors on its' wallet?

China moves and the MIT Narula's Medium blog I think so.

Just be calm and buy cheap :-)

Hi, anyone has an idea of why IOTA's price keep dropping?

Another response to a valid concern which was downvoted for some reason - https://www.reddit.com/r/Iota/comments/6yzm9g/integrity_question_for_come_from_beyond_sergey/dmsxaa5/

Another alternative way:

1. You can download and install the latest IOTA wallet from Github (windows lightwallet) or Playstore (Android mobile wallet) using the following links.

https://github.com/iotaledger/wallet/releases

https://play.google.com/store/apps/details?id=org.iota.wallet

2. Generate a seed using generator tool from trusted sources. You can tweak some characters if you want. Make sure you have copied the seed and safely stored it somewhere.

https://matthewwinstonjohnson.gitbooks.io/iota-guide-and-faq/getting-started/dl-wallet/what-is-my-seed.html

3. Login using your seed and generate an address.