IOTA Surges Past Ripple

Post by dwaltrip » Thu, Dec 07, 2017, 1:07 AM UTC

Mikejames wrote: post #148

dwaltrip wrote: post #145

Earlier quoted context omitted.

> There is inherent risk in all cryptos. This type of sentence is often intellectually dangerous. It's the basic pattern for a false equivalence -- brushing the differences under the rug. You are essentially saying that risk1 === risk2, without any justification. The default position when comparing thing1 to thing2, in any complex domain, is that they are not exactly the same, and we should be very cautious when tryi…

Clearly a JS Dev "===" :D

Post by CyberDildonics » Thu, Dec 07, 2017, 2:09 AM UTC

EGreg wrote: post #133

CyberDildonics wrote: post #108

Earlier quoted context omitted.

First, a paper written three weeks ago of an unproven currency is a bit of stretch. Second, I didn't say it was necessary to order transactions, I said that is what it is used for, which is correct. You are replying to a point that I didn't make.

You said proof of work is ABOUT ordering transactions. I was trying to say that it's not. It's used for other things: namely as a way to determine the next miner, like leader election in consensus protocols. It also adds a lot of computation on top of the transactions to show that the miner is heavily invested in the ecosystem and thus serves as an economic incentive. It has almost NOTHING to do with ordering transac…

Post by QML » Thu, Dec 07, 2017, 5:16 AM UTC

q-base wrote: post #78

tfha wrote: post #60

IOTA is built by a bunch of technical founders who know enough about blockchain to confuse a lot of non-experts into thinking they are really smart and credible. But you will see very consistently in the cryptocurrency space that the experts refuse to endorse iota, and frequently say strongly negative things about it. They are very effective at selling snake oil, but that's all their blockchain is. The tangle that th…

I do not own IOTA - thought about it some months back but decided against it because I don't fancy doing trades on or supporting Bitfinex. Another HN user swayed me away from Monero - which I owned a large part of as he told me about scaling issues. But my question is to your advice about: look to other experts. As someone coming outside the crypto-universe it is kind of hard to distill who the real experts are - so…

Post by QML » Thu, Dec 07, 2017, 5:24 AM UTC

ktta wrote: post #130

Aledgerly wrote: post #83

Earlier quoted context omitted.

Everything in that blog post is very much what the rest of the industry is agreeing with. Sources backing this up is even cited in the damn blog post man.

What industry? You mean the one that is less than 5yrs old? IOTA itself, with all its 'smarts' made a stupid mistake designing their own cryptographic hash function! This might seem like I'm hanging on a single point, but I guarantee, any sane security person on this site will tell you to stay far away from this coin if they see this. https://medium.com/@neha/cryptographic-vulnerabilities-in-io...

Post by EGreg » Thu, Dec 07, 2017, 6:50 AM UTC

CyberDildonics wrote: post #154

EGreg wrote: post #133

Earlier quoted context omitted.

You said proof of work is ABOUT ordering transactions. I was trying to say that it's not. It's used for other things: namely as a way to determine the next miner, like leader election in consensus protocols. It also adds a lot of computation on top of the transactions to show that the miner is heavily invested in the ecosystem and thus serves as an economic incentive. It has almost NOTHING to do with ordering transac…

You do realize that the miners' purpose is to order transactions right?