31–40 of 253 posts
IOTA is totally immature in terms of development, technology and PR (see fake partnerships and absence of public statement for the network status).
Apart from this it just look like a nice and interesting white paper but that does not actually work in reality yet
Why do people persist in the idea that a deliberately deflationary currency is a good idea. It might be a good investment, but as a currency, it doesn't promote commerce and trade, it just promotes hoarding. Much of crypto-currency holders today either seem to be people seeking to get in at the top of the ponzi pyramid and sell before collapse, or people who need to avoid some legal issue, be it capital controls, dru…
As I understand it, the problem with IOTA is that — in order to execute an attack — attackers just need to verify more transactions than all honest participants combined. So, in other words, honest participants have no incentive to verify more transactions than required (because they don’t profit from it) while attackers have an incentive to verify more transactions, in order to successfully double spend.
It introduces a high degree of centralisation - and we don't know the how network shapes up as a consequence.
And the second problem is obviously the unaudited,"quantum resistant" function.
As I understand it, the problem with IOTA is that — in order to execute an attack — attackers just need to verify more transactions than all honest participants combined. So, in other words, honest participants have no incentive to verify more transactions than required (because they don’t profit from it) while attackers have an incentive to verify more transactions, in order to successfully double spend.
Earlier quoted context omitted.
Let's be fair, the author did do more research than 95% of other investors before buying...
True but he’s still playing with fire. No one knows when the bull market will dry up but lots of people will end up losing money.
Why do people persist in the idea that a deliberately deflationary currency is a good idea. It might be a good investment, but as a currency, it doesn't promote commerce and trade, it just promotes hoarding. Much of crypto-currency holders today either seem to be people seeking to get in at the top of the ponzi pyramid and sell before collapse, or people who need to avoid some legal issue, be it capital controls, dru…
Why do you waste your dollars on coffee when you could invest them in a deflationary cryptoasset?
The post mentions the psychology today article but I’d like to say it’s actually a pretty okay article: https://www.psychologytoday.com/blog/mind-in-the-machine/201... (Author should disclose if he owns IOTA however)
That's an interesting article into the psychology and mind-tactics of crypto fans. Not sure why you've been downvoted but the article is worth a look.
To finish, let me state that I'm not defending IOTA, which I still think is a joke. Maybe I'm wrong but I cannot tell if I'm wrong or not until they shut down the coordinators (the very thing that makes IOTA centralised).
Why do people persist in the idea that a deliberately deflationary currency is a good idea. It might be a good investment, but as a currency, it doesn't promote commerce and trade, it just promotes hoarding. Much of crypto-currency holders today either seem to be people seeking to get in at the top of the ponzi pyramid and sell before collapse, or people who need to avoid some legal issue, be it capital controls, dru…
> it doesn't promote commerce and trade The problem is that our existing financial system probably had an intention of using inflation to encourage commerce and trade, but over the past 40 years, that focus shifted from using debt for the funding of productive enterprises to debt being used for the bidding up of fixed assets like houses, but also stocks. The only thing that mattered to this bidding process was capita…
Why?
To control the supply early and exploit later speculators.