Topic: IOTA - page 754. (Read 1471689 times)

Cap is set manually, each nodes decides if it wants to approve this transaction or not depending on its weight, too low and too high values will be filtered.

I read this interesting thread, but did not find this info, maybe I did not see it sorry :

What is the speed of on/off-tangle payments ?

I mean the total maximum time for an operation to be 100% accepted/confirmed by the system ?
Are we speaking of 5-10 seconds, 1-30 minutes or hours ?

We aim for development being done by Christmas;)

so, when will launch?

Please translate that general math to some concrete examples for us, so we can compare likely confirmation delays.

Does Iota (DAG tangles) need to be only for IoT applications?

What advantage does it have over a normal block chain? Only the faster confirmation time (yet to be quantified) and not needing large blocks (yet all "full" nodes still pretty much need to see all transactions so that aspect of scaling isn't changed from Bitcoin)?

Protest, my formulas are always beautiful  

Well, in iota you cannot say anything like "cumulative weight of X is enough for a tx to be considered confirmed", since the time enters the story. For the system to be secure on its own (i.e., without additional checkpoints or smth), the ability of the attacker to issue tx's must be much less than the "natural" flow of tx's in the system.  So, what you have in iota is rather statements like "if a tx got cumulative weight X by time T, then the probability that this tx can be annihilated is at most p, provided that the potential attacker's hashing power is at most h and the natural tx's flow in the system is at least m", see examples in the bottom of page 14 in the paper. In that "6 blocks confirmation rule" of Bitcoin there are some implicit assumptions as well, by the way.

"Everything must be made as simple as possible, but not simpler"  (c)

To "hire" miners for the race, can one send IOTA tokens to himself(the same address) or from one address to the other address he owns? To avoid double spending, tx weight cap will be set, so is the cap as small as possible? It seems that the cap is related to the tx flow rate, tx network topology and maybe other things, so is there any principle to set the cap manually or is it hard coded in the software?

@iotatoken

productivity gains (due to automation etc.) never shared fairly in mankinds history so far.
comparing former to current states and arguing current state is better without having a
look whats on the table in total to share is just guessing, an assumption, not more.

however, i very welcome iota because boiled down iot will come and it has big potential,
bad and good, now or later, with or without us. so a good question is, should it be defined
and build with or without it's later users, for instance by closed global players only or does
an alternative build/dev make sense. yes or no?

this is a no brainer, at least for me. not much to loose here to support iota from my pov.

I'll leave this question for the whitepaper author, his formulas scare me.

Automating human labour (eg. robotics) = More Freedom.

Automating human control and decision making (IoT) = Less Freedom.

You say 'As technology progresses' as if all technology is a single thing which all has the same effect and all technology is by its nature good, but I strongly disagree with that. Technology is like anything else, some inventions are a good idea and some are not. You cannot defend or promote a specific technology based on arguments pertaining to technology in general, somehow suggesting that technology is good and this is technology therefore this is good.

I admire your optimism though.

This is a business, you are free to leave whenever you want to. But today you can't if you don't have another job to go to, this is what I said earlier in the thread: today we live in a perpetual state of things that we HAVE TO DO despite of not WANTING to. The reason for this is the good ol' supply and demand that runs the world. My point is that as technology progresses the entire concept of supply will become more and more irrelevant.

We live in a universe with virtualy infinite resources. Now of course anno 2015, we are still stuck on planet earth with limited access to these resources, but as things become digital and automated there are certain things that we have virtually made infinite in supply. Even if you were the richest man on Earth 50 years ago, no amount could buy you a 70" OLED screen or direct access to all accumulated knowledge by mankind in the palm of your hand. Same goes for virtually everything. Electricity? Today we still need to get the majority of it through manual labour intensive means, but as solar, wind, nuclear, water etc. energy goes up, this too become more and more ubiquitous. As systems become more automated, people get more free time, more free time leads to more creativity and innovation as people cando what they really want. We ALL have more free time today than virtually anyone had in the 1990s. How we spend it is of course our own choice.

My point is that this will only continue and continue until we reach a point where we literally have an overabundance of everything (this is long term future, not short term). This will give us MORE freedom, not less, just like it always has.

The concern is of course for the 'transition period' that we are entering, where people lose their jobs when corporations optimize their supply chains, how will these people fare without jobs in this transition period? This is something that requires societal solutions.

You have spoiled an announcement about hardware support of Iota.  

Will you program IOTA into Jinn chips to be able to make each chip to become a node?