Earlier quoted context omitted.
You do realize that the miners' purpose is to order transactions right?
Pretty sure it's not. Go ahead and prove it with a link.
IOTA Surges Past Ripple
161–170 of 171 posts
Re: IOTA Surges Past Ripple
#162Earlier quoted context omitted.
I agree that it's risky but a lot of people here are making it sound like the plague. There is inherent risk in all cryptos. IOTA being a totally new concept to crypto currency makes it a little more risky but that doesn't mean that it should be abandoned or destroyed. The vision and benefits of it are great! $0 transactions and no miners sucking up electricity! I just don't get the hate.
> 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…
Which is why I said that IOTA is more risky because it is a new concept. The justification is that to stand up "The Tangle", the Coordinator is necessary at this time. Nobody has been giving any other ideas than FUD.
Re: IOTA Surges Past Ripple
#163Earlier quoted context omitted.
I'm also very interested in hearing the answer to this.
Listen to the ones the market listens to. For crypto currencies is not necessarily people with deep technical insight nor is it established economists.
> Listen to the ones the market listens to.
This is exactly the sort of anti-advice that brings suckers into a pyramid scheme.
> For crypto currencies is not necessarily people with deep technical insight nor is it established economists.
Sure, stir up hatred and jealousy of "experts" and "the establishment" to bring in more suckers, right?
GTFO shill.
Re: IOTA Surges Past Ripple
#164Earlier quoted context omitted.
Monero's FUD was refuted. The privacy attack was patched and it's solid now.
It was not to do with privacy, it is to do with scaling issues that may arise if it gains more traction and wide acceptance.
Do scaling issues really matter?! Bitcoin hasn't dealt with its scaling issues, and Monero is an extremely far way away from it in needing to deal with issues of scale.
Many of Bitcoin's scaling innovations could be applied to Monero as well.
Re: IOTA Surges Past Ripple
#165Earlier quoted context omitted.
> the IOTA developers had written their own hash function, _Curl_ Did...did they intentionally name it curl, so that when you search for "Is curl secure?" you will find articles saying that curl - the widely used library - is secure, in the hope that people will confuse the two? I know that you shouldn't assume malice when it can be explained with incompetence, but combined with some of the other points here, I can't…
I think the insecurity of their function was a mistake. I doubt they would deliberately code something that threw collisions and have a cover up plan that is basically name it curl and hope people get it mixed up with the real curl.
fwiw, was bored and exploring for the first time the (my God) toxic social timelines of these crypto coins and happened to end with IOTA and the story of the home grown hash function. Just posting what I just read about this topic and not an +/- either way on the topic at hand:
Sergey Ivancheglo (@Come-from-Beyond) claims the collisions were intentional and for the purposes of IOTA the hash merely had to be a one way function:
https://gist.github.com/Come-from-Beyond/a84ab8615aac13a4543...
He addresses his base-3 number system design decision as well (by appealing to authority no less :)
> name it curl
In above he references Curl-P and the final letter (see his last gist) also explicitly asks that the MIT security blogger use the full name which she declined.
Re: IOTA Surges Past Ripple
#166IOTA 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…
Weirdly enough, they have multiple academic members in their team. Must be one of the only teams with such high requirements for academia. Also, please enlighten us with some of your findings or sources pointing out IOTA weaknesses so that they can be discussed here and can be conveyed to the dev team.
Re: IOTA Surges Past Ripple
#167IOTA is kind of a joke IMHO: * They have this thing called the "coordinator" which is a master-node run by them, which is a single point of failure. The codebase that this node runs is proprietary software. They claim there will be no need for this masternode in the long run but they never say any ETA about when to remove it (which hints that removing it may always expose the security flaws of their network). This me…
* Coordinator is a mechanism put in place to aid the network in its infancy. Same as with Bitcoin.
* I don't see the correlation between pre-mined and scammy. Please elaborate. In my view it eliminates greed/TX costs because there is no mining.
* Has been discussed ad nauseam months ago, but here it is again https://blog.iota.org/upgrades-updates-d12145e381eb
* ?
Re: IOTA Surges Past Ripple
#168IOTA is kind of a joke IMHO: * They have this thing called the "coordinator" which is a master-node run by them, which is a single point of failure. The codebase that this node runs is proprietary software. They claim there will be no need for this masternode in the long run but they never say any ETA about when to remove it (which hints that removing it may always expose the security flaws of their network). This me…
Ripples sounds more legit to me. I mean look at this thread about IOTA: https://www.reddit.com/r/Iota/comments/70ya29/time_for_a_par... Anyone putting their money in IOTA is an absolute idiot.
What do you mean?
Re: IOTA Surges Past Ripple
#169I've reviewed the IOTA paper and some docs on it. It seems too good to be true, if it works it's much better (faster, free) than block chain cryptocurrencies with no downsides. I am surprised that no one else has come up with this approach so far, why is that? The only downside it's not currently decentralized, and requires a "conductor" to run securely, which will be removed in the future, apparently. The other crit…
It is too good to be true. And it's not true. You will not be able to find any major bitcoin devs saying anything encouraging about iota. Nor tangle/braid/dag researchers. Nor ethereum devs. Nor respected academics. Why? Because everyone serious who has taken time to look at the paper has realized it's not a valuable project, and makes plenty of claims it can't back up.
And WHY would that be that no Bitcoin dev says good things about another crypto? Hmm, no conflict of interest at all.
Re: IOTA Surges Past Ripple
#170Skeptical of IOTA. Build on promises that have no proof: Coordinator can be disabled, scaling. Also, it pretends to be open-source but you can't build it yourself because they won't release their real code out of fear of 'copying'... I like the lack of PoW though, a foundation issuing funds at regular times could fulfill this function without wasting a world of energy. DISCLAIMER: rode a 50% gain wave and sold.
Only part not open source is the coordinator, which will eventually be disclosed too when the time is right.