Now looks like pump and dump on news about friends in huge companies) Beating BTC is nonsense in the nearest future)
IOTA does have a very tiny chance of getting close to being where Bitcoin is. IOTA should pump someday though. 
Topic: IOTA (Read 618 times)
Some time before I had not a small amount of IOTA and I thought this is one of altcoins that can be the next big thing.
Because every coin that I like - I use them in real, I like to see how the wallet is made, how fast transactions are provided and etc.
But now, when I read this topic, it seems to me that this is not such big as it seems. And not decentralized as it was before to me.
I do not draw any conclusions but I think its time to make a research and get the things clear.
So thanks for your info guys, that was really helpful
Because every coin that I like - I use them in real, I like to see how the wallet is made, how fast transactions are provided and etc.
But now, when I read this topic, it seems to me that this is not such big as it seems. And not decentralized as it was before to me.
I do not draw any conclusions but I think its time to make a research and get the things clear.
So thanks for your info guys, that was really helpful
- IOTA has no miners. Every participant in the network that is making a transaction, actively participates in the consensus. As such, IOTA is more decentralized than any Blockchain.
Srsly??? Lack of miners is not an advantage, it's a cause of unfair initial coin distribution. And it is not decentralized at all, do not forget about coordinator node.
- IOTA utilized a newly designed trinary hash function called Curl, which is quantum immune.
It's not unique. And any cryptocurrency is able to change it's hashing algorithm when it will be necessary.
And, actually, all those technical details do not matter. What matters is that IOTAs can be stolen, and that was done practically multiple times, and it's done even by it's founders. It can not be relied on.
IOTA has a range of features that are uniquely enabled due to its architecture:
- IOTA can achieve high transaction throughput thanks to parallelized validation of transactions with no limit as to the number of transactions that can be confirmed in a certain interval.
- IOTA has no transaction fees.
- IOTA has no miners. Every participant in the network that is making a transaction, actively participates in the consensus. As such, IOTA is more decentralized than any Blockchain.
- IOTA utilized a newly designed trinary hash function called Curl, which is quantum immune.
- IOTA can achieve high transaction throughput thanks to parallelized validation of transactions with no limit as to the number of transactions that can be confirmed in a certain interval.
- IOTA has no transaction fees.
- IOTA has no miners. Every participant in the network that is making a transaction, actively participates in the consensus. As such, IOTA is more decentralized than any Blockchain.
- IOTA utilized a newly designed trinary hash function called Curl, which is quantum immune.
who said IOTA is overpriced? If so, you didn't do enough research on it. IOTA is platform like Ethereum which will host a ton of other projects. (i.e. Oyster Pearl, a project will utilize the tangle to store the data...). Don't look at the present but look at the future to see the real value of IOTA. That's called INVESTING.
I'm one of those, but unlike you, I've said already why it is so. And IOTA has nothing common with Ethereum. IOTA is just a scam.
Hi
who has experience with IOTA. They do not work with blockchain and want to offer transaction for free.
It looks quite good.
Does this thing has a potential to be next Bitcoin?
who has experience with IOTA. They do not work with blockchain and want to offer transaction for free.
It looks quite good.
Does this thing has a potential to be next Bitcoin?
IOTA is an electronic currency founded by four key members: David Sønstebø, Sergey Ivancheglo, Dominik Schiener, and Serguei Popov. This currency has the highest total supply of 2,779,530,283 MIOTA. Substantial supply will limit IOTA prices. While traditional chain-based networks such as Bitcoin or Ethereum use block-chain technology, IOTA uses no-cycle graphing technology, meaning that the execution of transactions does not have a defined cycle. To understand for example Bitcoin technology, to pass information from node A to node D, you would have to pass B and C which is a defined cycle, while for IOTA This cycle does not determine whether it is possible from A to F and then from D to D. This technology allows IOTA to achieve rapid growth and zero transaction costs.
I think IOTA will do very well once it is ironed out and running smoothly , I saw recently that there is a project I think an ICO going to use the tangle network.
It is trying something different from a blockchain so it will take a bit of time to see if it works out.
If it does well it will be big but bitcoin is it's own beast.
It is trying something different from a blockchain so it will take a bit of time to see if it works out.
If it does well it will be big but bitcoin is it's own beast.
IOTA is an open source distributed ledger focused on providing secure communication and payment between machines on the internet of things . its technology new and different .
Wrong. Coordinator node's code is not open yet, and I doubt it ever will. And it's distributed, but not decentralized. Everything is controlled by IOTA foundation. It's highly overpriced now.
I do not like this coin, it has nothing that convinces me that i can benefit from it. At first sight the idea was not good, but now i am little bit disappointed about it.
Absolutely, I was also attracted at the beginning, but now it looks that it will not have success.
Why do you think this, because you read a few FUD-posts? I can't understand people do not research a platform but just believe some random people on the internet spreading false information.
No it is not just about FUD posts, it is about pricing and statistics :/
I have heard mixed views from people on IOTA. Some say this is future while some say to stay away from this. But I don't like much risky investments so I am not going to invest in IOTA.
It is not only about this coin, it is also about all others. There are always different opinion about different coins. In case of investment you should look at prices, but really every investment includes risk.
Now you're just posting old shit. This might help: https://medium.com/@iotasuppoter/iota-latest-information-huawei-dci-ama-jan-7-d6f801834f79
The coordinator will be turned of gradually.
New wallet is on its way.
The coordinator will be turned of gradually.
New wallet is on its way.
It's just a promises. They already cheated, by hiding the fact of network centralization. So it's better to look at what they actually do, not what they promise to do.
Could be but it's a fact that some major companies are at least fond of the idea. You want to take the chance of not holding it when some major multinational spreads the news that they will use IOTA? It has more chance of some actual usage in the real world than 99% of all these funny wannabe circle jerk coins with 'big communities' and tons of paid youtubers.... If they get through with some company, you'll be too late. I'd like to take that chance and hold some.
I have heard mixed views from people on IOTA. Some say this is future while some say to stay away from this. But I don't like much risky investments so I am not going to invest in IOTA.
I hold IOTA as this crypto is convenient for me. Moreover, I am sure we will see that before the winter of 2018 ends, this altcoin will strengthen its positions and grow in its value. Look:
https://www.youtube.com/watch?v=14aJ9CO9syw
This is not necessarily true. The concepts behind IOTA likely are the future of IOT but that doesn't men that the IOTA token will be. The success of IOTA is entirely dependent on the teams ability to make it a success, should another team come along that implements a more reliable implementation then that token will become more valuable. There are no guarantees in cryptoland investing.
IOTA is the future of the Internet of Things, whether people like it or not. IOTA is also a long term investment, there's still a lot of work to be done. The key feature about IOTA that people seem to be unaware of is the more IOTA's Tangle is utilized, the more it scales. That's called unlimited scalability. No other Crypto can claim such a thing, because Blockchain at the moment is incapable. of such a thing.
You still did not understand it. Get some basic knowledge in information security.
Have to blame myself here too, as this was prone to happen sooner or later. It happened before and it will happen again, if they don't fix it, it is a major design flaw.
Have to blame myself here too, as this was prone to happen sooner or later. It happened before and it will happen again, if they don't fix it, it is a major design flaw.
You know I can copy/paste the stuff you ignore without much effort? To reiterate:
Anyone implicity trusting a unknown site to create a random seed is trusting the access to their funds to a stranger--either change the key (random char) or don't bother.
My analogy is apt as the seed is what you need to get in the house/safe--a piece of paper won't give you this acces or prevent a theft from someone with a key.
Again, where did the devs promise more than a bare bones wallet? Nice you have ignored this detail. Dom said he didn't want the Foundation building wallets--that includes idiot-proofing them.
You did a stupid thing, own it.
The problem with IOTA is that is assumes a) widespread adoption of IoT devices and b) that they need to transaction. A is hyped use case, IoT will probably not be as useful or used as much as supporter would like. B is a stretch even if it does. So the price has built in massive future expectation which is likely overstated, therefore looks overvalued.
Security issue just compound this by giving it a bad impression. Doesn't matter much that people created keys with online tool, they did and the coin is now tarnished.
Security issue just compound this by giving it a bad impression. Doesn't matter much that people created keys with online tool, they did and the coin is now tarnished.
Obviously you have no clue of what you're talking about.
But let me explain it, a seed in your comparison would be your rental contract, or your house document (authentication), Your monthly rental or purchase price would be your accounting. And authorization would be the key to your house.
The latter IOTA forgot to implement.
Clear now?
But let me explain it, a seed in your comparison would be your rental contract, or your house document (authentication), Your monthly rental or purchase price would be your accounting. And authorization would be the key to your house.
The latter IOTA forgot to implement.
Clear now?
Anyone implicity trusting a unknown site to create a random seed is trusting the access to their funds to a stranger--either change the key (random char) or don't bother.
My analogy is apt as the seed is what you need to get in the house/safe--a piece of paper won't give you this acces or prevent a theft from someone with a key.
Again, where did the devs promise more than a bare bones wallet? Nice you have ignored this detail. Dom said he didn't want the Foundation building wallets--that includes idiot-proofing them.
You did a stupid thing, own it.
It is good that this discussion stays on top here, still many people did not know that they have been robbed. And looking at the constant flow of new theft reports at
https://forum.helloiota.com/9284/RE-Call-to-action-lets-catch-the-thief
it appears this is still going on at large scale.
https://forum.helloiota.com/9284/RE-Call-to-action-lets-catch-the-thief
it appears this is still going on at large scale.
Can only share this so people realize how dangerous this investment is. So far I know that police in 2 states in Germany (Hessen and Berlin) are investigating the heist.
Investments are usually always risky. So that's not because of IOTA. That you lost your coins is mainly up to you because you have entrusted your private seed to a third party. Maybe you should stop blaming others and see that you have made mistakes.
Yes that's true. Possible mistakes are there so you can re-study the actions that you made. Don't blame others because sometimes it is the traders who made mistakes.
Obviously you have no clue of what you're talking about.
But let me explain it, a seed in your comparison would be your rental contract, or your house document (authentication), Your monthly rental or purchase price would be your accounting. And authorization would be the key to your house.
The latter IOTA forgot to implement.
Clear now?
But let me explain it, a seed in your comparison would be your rental contract, or your house document (authentication), Your monthly rental or purchase price would be your accounting. And authorization would be the key to your house.
The latter IOTA forgot to implement.
Clear now?
I have just looked at your thread. I am sorry that your coins have been stolen, but to me it looks like you've used a service without any thought, which is obviously dangerous to the security of your wallets.
Yes, exactly, it is not only "my thread". Many people got funds stolen and it is not only 4mUS$ as reported in some news, more likely in the 3 digits numbers. Theft is still reported every day here and most people probably did not even realize this yet.https://forum.helloiota.com/9284/Call-to-action-lets-catch-the-thief
Can only share this so people realize how dangerous this investment is. So far I know that police in 2 states in Germany (Hessen and Berlin) are investigating the heist.
If you go to a random guy on the street to make your house key or give you a safe code, you need your head examined--learn how seeds work or don't "Be your own bank."
Seriously, this is beyond stupid.
Can only share this so people realize how dangerous this investment is. So far I know that police in 2 states in Germany (Hessen and Berlin) are investigating the heist.
Investments are usually always risky. So that's not because of IOTA. That you lost your coins is mainly up to you because you have entrusted your private seed to a third party. Maybe you should stop blaming others and see that you have made mistakes.
I have just looked at your thread. I am sorry that your coins have been stolen, but to me it looks like you've used a service without any thought, which is obviously dangerous to the security of your wallets.
Yes, exactly, it is not only "my thread". Many people got funds stolen and it is not only 4mUS$ as reported in some news, more likely in the 3 digits numbers. Theft is still reported every day here and most people probably did not even realize this yet.https://forum.helloiota.com/9284/Call-to-action-lets-catch-the-thief
Can only share this so people realize how dangerous this investment is. So far I know that police in 2 states in Germany (Hessen and Berlin) are investigating the heist.
This coin has major design flaws, like using a private key to login without any protection, the problems with hashing, and many people got robbed already and will get robbed in the future.
I have just looked at your thread. I am sorry that your coins have been stolen, but to me it looks like you've used a service without any thought, which is obviously dangerous to the security of your wallets. Why do you entrust the creation of your seeds to a third party? Either you have not been in the "crypto world" for so long and therefore you do not know so well and did not know how important the seed is or are you
fundamentally irresponsible. No one who has experience in crypto would entrust the creation of the seeds to a third party! And no, I'm not an IOTA fanboy and I do not own any IOTA.
It's annoying how many people who invested in IOTA without acknowledging that its goal was M2M and are now crying foul that there isn't an idiot-proof P2P wallet.
That's how I see it too! Thank you!
Spreading FUD, huh? You can read more about the recent theft here, and this happened before.
https://forum.helloiota.com/9284/Call-to-action-lets-catch-the-thief
It remains a major design flaw to use a private key, which they call seed, to log into ones wallet. No authorization at all implemented.
https://forum.helloiota.com/9284/Call-to-action-lets-catch-the-thief
It remains a major design flaw to use a private key, which they call seed, to log into ones wallet. No authorization at all implemented.
Show me where the Devs promised more than a barebones wallet?
It's annoying how many people who invested in IOTA without acknowledging that its goal was M2M and are now crying foul that there isn't an idiot-proof P2P wallet.
Wait for Trinity, learn how seeds work or leave it on an exchange.
Spreading FUD, huh? You can read more about the recent theft here, and this happened before.
https://forum.helloiota.com/9284/Call-to-action-lets-catch-the-thief
It remains a major design flaw to use a private key, which they call seed, to log into ones wallet. No authorization at all implemented.
https://forum.helloiota.com/9284/Call-to-action-lets-catch-the-thief
It remains a major design flaw to use a private key, which they call seed, to log into ones wallet. No authorization at all implemented.
I do not like this coin, it has nothing that convinces me that i can benefit from it. At first sight the idea was not good, but now i am little bit disappointed about it.
Absolutely, I was also attracted at the beginning, but now it looks that it will not have success.
Why do you think this, because you read a few FUD-posts? I can't understand people do not research a platform but just believe some random people on the internet spreading false information.
Please see the other discussions.
This coin has major design flaws, like using a private key to login without any protection, the problems with hashing, and many people got robbed already and will get robbed in the future.
Further more the development team tries to sit such issues out and does not take any action to solve or mitigate them.
German police in Hessen and Berlin is now investigating them.
This coin has major design flaws, like using a private key to login without any protection, the problems with hashing, and many people got robbed already and will get robbed in the future.
Further more the development team tries to sit such issues out and does not take any action to solve or mitigate them.
German police in Hessen and Berlin is now investigating them.
My god... this is absolute nonsense. The people being hacked used scammy online seed generators, which is of course pretty dumb. Please realize the product is still in beta, and these user-friendliness issues will all be resolved once the new wallet is out in a few weeks. The trinity wallet. Police investigating? Source? You can't blame others for being careless, lol!
Problems with hashing has been discussed hundred times. And have already been answered by IOTA in their blog: https://blog.iota.org/.
All I want to say: DYOR people. IOTA is ready to take their deserved position in top 3 coming months. Backed by Bosch, and now also Volkswagen. These huge companies are not going to back IOTA if they don't see the huge potential.
EDIT: i recommend to read the following articles for better understanding:
https://medium.com/@iotasuppoter/iota-why-the-fud-makes-sense-82a2f1dc38d5
https://blog.goodaudience.com/why-keeping-your-iota-makes-sense-75e8a74cf2ee
https://blog.iota.org/2017-in-review-2018-in-preview-704177484ef0
Be smart, don't spread FUD, but investigate and think about what the platform you're investing in has more to offer than IOTA.
I do not like this coin, it has nothing that convinces me that i can benefit from it. At first sight the idea was not good, but now i am little bit disappointed about it.
Absolutely, I was also attracted at the beginning, but now it looks that it will not have success.
Back in 2012, people could not imagine crypto-currencies, which perform the functions of a blockchain, but do not have it. And now this technology already exists. Those who do not believe in it, I recommend reading the work of Sergei Popov, describing the technology of Tangle, based on the DAG, which he wrote in 2016.
Please see the other discussions.
This coin has major design flaws, like using a private key to login without any protection, the problems with hashing, and many people got robbed already and will get robbed in the future.
Further more the development team tries to sit such issues out and does not take any action to solve or mitigate them.
Last but not least they spread fake news, like a cooperation with Microsoft, which was just a bubble to promote the coin.
German police in Hessen and Berlin is now investigating them.
This coin has major design flaws, like using a private key to login without any protection, the problems with hashing, and many people got robbed already and will get robbed in the future.
Further more the development team tries to sit such issues out and does not take any action to solve or mitigate them.
Last but not least they spread fake news, like a cooperation with Microsoft, which was just a bubble to promote the coin.
German police in Hessen and Berlin is now investigating them.
As for the IOTA project, I've heard a lot of bad things, but I do not think that's true, because I had to read about the project, the very idea of the project is very remarkable, maybe even better than bitcoin at some points, because network congestion is simple It is impossible, of course, if it carries out many transactions
Now you're just posting old shit. This might help: https://medium.com/@iotasuppoter/iota-latest-information-huawei-dci-ama-jan-7-d6f801834f79
The coordinator will be turned of gradually.
New wallet is on its way.
The coordinator will be turned of gradually.
New wallet is on its way.
It's just a promises. They already cheated, by hiding the fact of network centralization. So it's better to look at what they actually do, not what they promise to do.
Bitcoin's value comes from it's decentralization, autonomous and trust free nature. IOTA doesn't have any of that: it is centralized and it relies on coordinator node run by the IOTA Foundation, so it can be shut down, seized or abused. That's obviously just another worthless coin. IOTA offers less safety and features, than many online payment service providers.
Now you're just posting old shit. This might help: https://medium.com/@iotasuppoter/iota-latest-information-huawei-dci-ama-jan-7-d6f801834f79
The coordinator will be turned of gradually.
New wallet is on its way.
I don't know if IOTA will be big, but their goal is making microtransactions between machines. IF they succeed, this will boom like you hardly ever saw something boom. In other words: I bought some at $0.7, now we're at $2.5 after reaching $5 when everything was bullish. And I'm not thinking about selling.
You have to look into IoT Chain. The problem I have with iota is the supply and tech. ITC has a low supply and the tech is DAG+PBFT. https://iotchain.io/
To me it's highly overpriced thing. It is not decentralized so technically there's a huge difference between IOTA and other cryptos. No idea why it's market cap is so huge
Eventually it's price will collapse.
They've had some missteps recently including overstating their relationship with Microsoft and had millions stolen from wallets that require users to generate complicated seeds.
Bitcoin's value comes from it's decentralization, autonomous and trust free nature. IOTA doesn't have any of that: it is centralized and it relies on coordinator node run by the IOTA Foundation, so it can be shut down, seized or abused. That's obviously just another worthless coin. IOTA offers less safety and features, than many online payment service providers.
IOTA becomes the next BTC? Please forgive me for laughing.
This is not possible. BTC is the leader of cryptocurrency market. Although IOTA has many applications, it is absolutely impossible to surpass BTC.
Of course, maybe it sounds very funny, but I think that sooner or later this laugh will end, just like when about Bitcoin they said such things. IOTA is many times greater than Bitcoin. Since their network is built the other way around. the more people, the faster the network. This is not possible. BTC is the leader of cryptocurrency market. Although IOTA has many applications, it is absolutely impossible to surpass BTC.
In my opinion IOTA is a very promising coin and the project itself, respectively. But lately a lot of people are very bad about responding to the project, I honestly do not understand why this is happening, but I think that this may be due to their personal intentions to bring down the price.
Do you really think it's ok to use self-invented cryptographic algorithm, that wasn't peer reviewed and passed proper amount of cryptanalysis? Do you really think, that coins or tokens, that can be lost so easily is a good investment?
It won't be the next Bitcoin but IOTA has many potential. Yes it's true some inefficiency and flaws has been discovered lately on the project but if the Devs and the community work things out and resolve these issues, Iota has a long way to go which it hasn't started out yet.
In my opinion IOTA is a very promising coin and the project itself, respectively. But lately a lot of people are very bad about responding to the project, I honestly do not understand why this is happening, but I think that this may be due to their personal intentions to bring down the price.
Hi
who has experience with IOTA. They do not work with blockchain and want to offer transaction for free.
It looks quite good.
Does this thing has a potential to be next Bitcoin?
who has experience with IOTA. They do not work with blockchain and want to offer transaction for free.
It looks quite good.
Does this thing has a potential to be next Bitcoin?
This cryptocurrency has a lot of problems. It is not really decentralized. People lose a lot of money, when it was discovered, that their hash algorithm had flaws. They keep promising to return lost IOTAs, but no real progress yet, and I doubt it ever happen. Their wallet is just a crap, a perfect example of how not to write software. And taking into account the quality of their software, you'll never know, how many undiscovered flaws exist yet. Keep away from this crypto.
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