There are differences to bitcoin and etherun vs Iota. Bitcoin/Ethereum have PoW, which cant be easily reproduced, but Iota has no such thing, it can easily be cloned, and tokens distributed at will. Bitcoins are generated, so cannot be distributed without investing alot of time or hardware up front.
Security is an issue on public networks, connecting any of your systems to the internet is opening it up for abuse and dealing with those extra costs. Private networks, firewalls and all-things internal-to-enterprise servers exist for this reason. The entry to public is higher than private.
Your argument is true for blockchain based PoW systems where distribution happens over time, but not for Iota.
ALSO, IOTA is reddit.com/r/bitcoin full of censorship and groupthink, it wont succeed because of this close-minded, authoritarian approach to criticism and questions.
You did not get it. What I meant is that the public chains have innate advantages in cost and efficiency no matter they are PoW or PoS or IOTA a like in comparison with private chains.
The private chains don't keep the PoW when they clone the PoW chains like Bitcoins. I remember someone mentioned that R3 is basically Bitcoin without the coins.
The security issue for public chains is not unique for IOTA. It is common for all cryptocurrencies like bitocin and ehtereum.
