IOTA - Unpopular because it threatens blockchain.

Junglee

member

Activity: 142

Merit: 12

Quote from: PClay 35 on March 03, 2018, 12:09:26 PM

Hi All

I am a hod'ler of many altcoins, and i love the tech behind them, especially priacy coins like Deeponion, Spectre and Zclassic (before the BTCP fork). However I have read up a lot on IOTA, and love the theory and potential tech behind it. Likewise, some big companies also seem sold on the IoT and IOTA. I also recognise the major FUD that surrounds the foundation, and sometimes unhelpful tweets or press statements from IOTA Foundation don't help. Is this really legitimate criticism OR just many fans of blockchain hoping that the Tangle will fail? I love all of the tech, and want to see it all do well and improve society generally. If this means I am fortunate enough to make some money off the coins/tokens I have then so be it, but Blockchain, IOTA the IoT and every other application could/would revolution society.

Thoughts?

Luckily I've made money in crypto myself, but like you said, it's risky. When I put money in early December the coin that was being shilled was IOTA - I actually bought the $5 peak on the 6th of December - that was my investment. Luckily I had sense to get rid of the coins after a few days and bought some which have done well despite the constant dipping since January. (If I had listened to bitcointalk going 'lol just HODL bro' I would've been so mad today) Anyway, in this market to make money someone else has to lose money. When I bought that 5 dollar peak, someone was probably cashing out or simply buying other stuff with the 2-3x money they've made by selling to me. When I sold IOTA someone had to watch their investment dip and maybe sell it off to someone else who made a loss, and so on. There are more losers than winners here, always. Nobody can withdraw more fiat money than the sum that was put in.

Godspeed. If I could make one tiny suggestion instead of cashing out right now is to wait three more weeks, just until April. Then get out and never look back.

cheefbuza

member

Activity: 302

Merit: 15

IOTA is the weird kid in every school. But it doesn't make him less smart, attractive or useful.
Eventually, I think IOTA will need to prove themselves more than anyone but the results will be sweet and delightful.
I guess I am a big fan of them either since they put technology in their first priority, marketing shouldn't be throwing off but IOTA is really all about the technology. It can be a great exploding bomb or just another lame attempt but I guess if it achieved that far it's going through the right path.

alexbs

full member

Activity: 364

Merit: 102

In a few years we will see the imminent "Machine Economy". In this new economy, a cryptocurrency like IOTA will be necessary to obtain computational capacity, storage space, electricity, data acquisition from dedicated sensors and many else, where a decentralized system may have millions of requests and processes per hour.

IOTA is one of the most interesting cryptocurrencies related to the Internet of Things (IoT) and the next-generation “machine economy”. Those who decide to bet and invest, could get an important return in the future. In my opinion Iota is still very cheap right now.

PClay 35

jr. member

Activity: 89

Merit: 1

Guys

Thanks very much, your information is great. I was under the impression the problem with the seeds was down to an online generator, which I almost got caught out by, luckily I had set up a separate wallet and completely realised how stupid it was to transfer IOTA into a wallet where someone had set the code for you. Novice knowledge of IOTA wallets by me, but lucky I rapidly corrected this mistake.

But I also get the point that people shouldn't be left to fall into this trap in the first instance if a seed generator was included int he current wallet, and I understand how this may cause negative comments and upset investors in IOTA.

Anyway, thanks for you comments.

Astrilian

full member

Activity: 350

Merit: 112

Ecosystem for Fundraising DAOs — ICOs 2.0

If a new technology is a potential rule breaker or disruptive for a market then it will always be very unpopular as established players often fear to be wiped out. Often things are not that black and white and sometimes even compliment each other. If you look at Oyster Protocol, they plan to be using the IOTA tangle while PRL is in fact a ERC20 token. As some already pointed out, there are many who are bullish on IOTA, among them is for instance Ivan on Tech (a programmer who explains blockchain). Among the many self proclaimed experts this guy really knows what he is talking about. If you have not heard of him I recommend watch some of his videos. Recently Ivan discussed the top 3 cryptos for 2018, and IOTA was one of them.

BartS

sr. member

Activity: 980

Merit: 255

Quote from: PClay 35 on March 03, 2018, 12:09:26 PM

Hi All

I am a hod'ler of many altcoins, and i love the tech behind them, especially priacy coins like Deeponion, Spectre and Zclassic (before the BTCP fork). However I have read up a lot on IOTA, and love the theory and potential tech behind it. Likewise, some big companies also seem sold on the IoT and IOTA. I also recognise the major FUD that surrounds the foundation, and sometimes unhelpful tweets or press statements from IOTA Foundation don't help. Is this really legitimate criticism OR just many fans of blockchain hoping that the Tangle will fail? I love all of the tech, and want to see it all do well and improve society generally. If this means I am fortunate enough to make some money off the coins/tokens I have then so be it, but Blockchain, IOTA the IoT and every other application could/would revolution society.

Thoughts?

IOTA is popular just look at the market cap and you will understand that, the problems some have with IOTA is that is not close to being a finished product, this is not IOTA fault since there are many projects with huge market caps with the same issue, but the biggest issue some have is with the coordinator being controlled by IOTA, for many this means there is centralized control by a single entity and they are so against it they create all kind of misinformation about it.

PClay 35

jr. member

Activity: 89

Merit: 1

Thanks for all of your comments guys. I have seen the security issues, and I have seen the counter argument, which was a good defence. I think that I will continue to HODL. I would love to know of any other IoT based blockchain because I think that will be massive in a couple of years. Anyone have thoughts on IoT Chain?

Holla123

full member

Activity: 504

Merit: 131

Quote from: PClay 35 on March 03, 2018, 12:09:26 PM

Hi All

I am a hod'ler of many altcoins, and i love the tech behind them, especially priacy coins like Deeponion, Spectre and Zclassic (before the BTCP fork). However I have read up a lot on IOTA, and love the theory and potential tech behind it. Likewise, some big companies also seem sold on the IoT and IOTA. I also recognise the major FUD that surrounds the foundation, and sometimes unhelpful tweets or press statements from IOTA Foundation don't help. Is this really legitimate criticism OR just many fans of blockchain hoping that the Tangle will fail? I love all of the tech, and want to see it all do well and improve society generally. If this means I am fortunate enough to make some money off the coins/tokens I have then so be it, but Blockchain, IOTA the IoT and every other application could/would revolution society.

Thoughts?

I would not go as far as saying that Iota is unpopular. Quite the opposite actually. There is now projects like Oyster Pearl, that are clearly intending to use Iota for their own project and that way showing some of the Iota technology related possibilities in reality. Also I know a number of people that are super bullish on Iota. As I am mainly looking on low caps apart from Neo I did not watch too closely but I got the impression so far that there is a strong community behind Iota.

arienna23

full member

Activity: 221

Merit: 101

More than blockchain it threatens to make the mining technology obsolete and with millions of dollars invested into mining, the miners aren't too happy with coins like IOTA or Nano gaining popularity. There are coordinated negative campaigns being ran against these coins.

prdn

member

Activity: 504

Merit: 10

I've heard about the iota too much security issue, it would be a better option hdac instead

rebel92

sr. member

Activity: 616

Merit: 260

IOTA is going to grow with proper marketing. The FUD has surrounded IOTA from the start, yet I had a strong gut feeling about IOTA early on and it has never left me, I still think it's going to be huge. Feelings aside and thinking rationally, because of its use case, IOTA stands to be multitudes bigger than ANY other application including Bitcoin or Ethereum. I really like Iota's technology and its huge no fee model. If IOTA is successful, it will be the backbone of the economy.

lsd400

member

Activity: 189

Merit: 12

Quote from: Imfinnabeon on March 03, 2018, 12:26:53 PM

The tech itself is fine and Tangle is great, nobody has an quarrels with that. And while distributed ledgers can revolutionize society, IOTA won't be the one to do it and I will list you why. They have tons of problems including

-security bugs
-create your own private seed
-transactions go from unconfirmed to confirmed
-wallet doesn't work at all essentially

That is actually quite frustrating because so many people put money into it following FOMO. I've heard these concerns too in twitter from various people.

Imfinnabeon

full member

Activity: 238

Merit: 101

Decentralize The $15-Trillion Global Trade Industr

The tech itself is fine and Tangle is great, nobody has an quarrels with that. And while distributed ledgers can revolutionize society, IOTA won't be the one to do it and I will list you why. They have tons of problems including

-security bugs
-create your own private seed
-transactions go from unconfirmed to confirmed
-wallet doesn't work at all essentially

PClay 35

jr. member

Activity: 89

Merit: 1

Hi All

I am a hod'ler of many altcoins, and i love the tech behind them, especially priacy coins like Deeponion, Spectre and Zclassic (before the BTCP fork). However I have read up a lot on IOTA, and love the theory and potential tech behind it. Likewise, some big companies also seem sold on the IoT and IOTA. I also recognise the major FUD that surrounds the foundation, and sometimes unhelpful tweets or press statements from IOTA Foundation don't help. Is this really legitimate criticism OR just many fans of blockchain hoping that the Tangle will fail? I love all of the tech, and want to see it all do well and improve society generally. If this means I am fortunate enough to make some money off the coins/tokens I have then so be it, but Blockchain, IOTA the IoT and every other application could/would revolution society.

Thoughts?

Topic: IOTA - Unpopular because it threatens blockchain. (Read 155 times)