Topic: IOTA - the scheme is being pumped hard now don't fall for the trap - page 17. (Read 41080 times)

Remember though as you said those that post smiley faces are generally masking their being very unhappy?

It's the most favorite "argument" of those who lose in a dispute. 

lol why so angry?

Where are light nodes and full nodes mentioned in the iota whitepaper? If you have other technical documentation about iota give it to me by all means

When you issue a transaction on a blockchain you don't have to spend nearly as much computing resources / energy as when you issue a transaction on iota, what you spend is a fee destined to those who spend those computing resources for you

As to the "triviality" of the "PoW" on iota, let's see it work in practice, cause what I've seen in the whitepaper makes me think this isn't going to be as trivial as you guys think it is

He is just a trader, he doesn't care what shit he trades.

Thank you. Those who want to see my latest masterpiece - https://www.youtube.com/watch?v=KM36ED544iE&feature=youtu.be

PS: BTW, it explains why cryptohunter is so angry at IOTA...

the best bit about this thread is that only the known iota shills turn up ...and to generate a bit of new support a new sock puppet appears (expert of course knows all about how great iota is and how shit blockchains are) that never thought about joining the board until seeing this thread.

then again could be true i mean iota shills never thought of posting on the main board until the day after the stealth ico was done with ....then they all thought about posting about iota and the coming 1bn MC at once.

I mean they practically told us the manipulative hold the tokens hostage build the fomo scam before it was executed

we shouldn't really pick on iota because a lot of these insta icos are doing the same thing but actually there is less room for error

cfb is a very funny guy too who makes impressive videos so we can go a bit easy on him i guess.... how about we don't touch it until sub 100M so he just gets 100x profits (well more because he didnt have to pay for his tokens he gave himself and his sock puppets)

he should be more than happy with that.

https://en.wikipedia.org/wiki/Philosophical_burden_of_proof:

You made a claim (that PoW in IoT is a mistake), I expected you to prove it. Could you expand your proof to make it more convincing?

Quote from the article:


This is just sad

As per the "whitepaper" which you supposedly read:

"When a new transaction arrives, it must approve two previous transactions" (yea that sentence makes no sense, the author of the whitepaper means that to issue a transaction a node first has to approve two other transactions of the "tangle")

and


So you say there are no transaction fees in IOTA, but to issue a transaction a node has to pick two other transactions to approve according to some algorithm, has to check if the two transactions are not conflicting according to another algorithm, if they are conflicting the node has to run an algorithm to decide which transaction to approve (this algorithm may take a lot of time to finish), and then the node has to solve a cryptographic puzzle (potentially computationally demanding again) to validate each transaction.

So great you don't have to send tokens to the network to issue a transaction but you have to do all that shit, how wouldn't you call that "fees"? It takes computing power, it takes time, it takes energy, those are fees which you have to pay for.

muh "no fees" muh "no blockchain" muh iota the savior of all humanity and beyond

I don't know you besides the NXT scam, which is yet another reason to tag you and everyone involved.

Your question can be answered with a simple question: "Why?". That PoW inherently has no benefit, and what you consider a IoT device (if the claim from someone else is true) has nothing to do with IoT.

You are an idiot.

I am strongly opposed to any kind of scams, but it is not possible to be everywhere at all times. Otherwise I'd be hunting for some young blood in this section.

FTFY kiddo.

Oh, and @Lauda, great to have you here.
If you entertain us in threads I already watch, it saves me a few clicks to follow your sig campaigns.

Probably, but they could at least make it illegal for the residents of their country to participate in ICOs and crowdsales, if this happens, then that is going to stop a number of people not everyone but some, especially those that do not know any better and follow orders, for the rest they will keep doing business as usual but the rewards are going to be smaller.

What is "Wow"?

It does mean that if you are an retarded iota developer/fanboi.

What you gonna do, make it so secure, the plaintext will never even exist at any point! Secure tamper-proof hardware! Wow!

good move

"In any case, the end-to-end scenario needs to be considered."

Your point was secure m2m communication, that means transport layer, but sure now you move to application-level. OK.

If only there was a cryptocurrency which relied only on signing messages and didnt waste energy doing worthless PoW... 
Oh right, Byteball!

BTW; I work exactly with these types of problem, at an IoT company.

His name is Come from Beyond. The main developer of IOTA, they said the inventor of tangle chains.

Even without knowledge in these fields, many sentences in the whitepaper make no sense from a logical and grammatical point of view. Sometimes he says a node approves transactions, sometimes he says transactions approve transactions. He talks of a transaction being approved by a "tip", but in the context he uses it that sentence makes no sense. He doesn't use a consistent terminology. He makes faulty assumptions. So many things are left unexplained and in many instances there is no way to understand what he is referring to or what assumptions he starts from. The whitepaper looks like a draft at best, incomplete and full of errors and inconsistencies. It isn't that it is too deep to understand, it is that it is presented in a way that cannot be understood. People backing this project do not understand it, they are just attracted by the "no blockchain" "no fees" "quantum resistant" memes. How such a shitty paper could make it to a 1 billion+ market cap is beyond me. I knew people were stupid, but this...

Dont let the door hit you on the way out CfB.

Any iota official channel is censored and moderated. Any slight criticism is not welcome. Questions of the kind asked here, IoT & PoW, auto-node discovery lead to insta-ban.

Ask "What criteria has to be fulfilled for Coordinator to be turned off", maybe you get as answer ridicule and attempts at intimidation with threats from the Iota developers, sometimes they threaten with legal action.  

EDIT: Dont answer CfB, he developer of IoT coin should have known something about IoT devices and the obvious retardation of doing PoW on them. He considers a Raspberry Pi to be IoT device. He is now in here fishing for information to scam more people.. Do not  bite the troll bait! Pass.

Hi, Lauda. You don't remember me, probably, but I'd like to say that I'm your fan. Countless hours were spent by me to write down every personal insult posted by you. They extended my poor collection consisting only of "fuck off" to 200+ entries. Now I can pretty freely explain what I would do to relatives of my opponent and even to his dead dog. I learned a lot of anatomical terms in English. With your help I realized that "This is what your mom said" can be an insult too if I pay attention to the words of whom I was answering to. At any moment I can sort "moron", "idiot", "imbecile" according to their IQ level (I still don't get if "semi-retard" is more insulting than "retard" though, could you help me with this, by the way). I was amazed reading about your sexual life (from your own words). "He must be a reincarnation of Kamasutra author" - this thought came to my mind numerous times. Some things I knew about you might be perceived as perversions by most of people but who are they to judge you? I still giggle time to time recalling your "This is how your MOM looks after I flip her" reply to a newbie asking what "WOW" is, that was brilliant, man! Some your posts were quite racist to my taste, but I didn't blame you, we all have psychological traumas from childhood which manifest themselves one way or another... Oh, I posted so much text, completely forgot that actually I was going just to ask you a question, sorry...

Why is PoW on IoT devices is a fundamental mistake?