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IOTA: A tangled mess

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Re: IOTA: A tangled mess

#101

Post by nebulous1 »

steve_taylor wrote: post #13

> RULE 3: ALWAYS wait for a transaction to be confirmed before sending anything else. > Rule #3 is just another admission of a broken network. Really not much else to say. It sounds like an admission of vulnerability to double-spending.

Not really. This isn't an actual vulnerability of the network to double spending, it's just a wallet (or wallets) issuing multiple transactions for the same coin (he may actually just mean the same address rather than the same coin, so that you don't come a cropper of the private key issue). This is possible in pretty much all cryptocurrencies, and their mechanisms for dealing with it (ie only honouring one of the transactions) is one for the core functions of any cryptocurrency.

Re: IOTA: A tangled mess

#102

Post by catwell »

acoye wrote: post #57
planetjones wrote: post #18

Earlier quoted context omitted.

Me too. He may well have valid points but, as someone who has written mission critical software systems in Java, this destroys the credibility of the article for me.

He may be biased, but you may be too. Are you a Java developer (or android)? That said, I know some great software can be produced in Java, ElasticSearch been one on top of my mind. If Security is the goal, nor CPP nor Java is great. Proven Haskell or Rust might be more of a valid option.

AFAIK Cardano (ADA), which is booming (passed IOTA and became the 6th largest coin this week), is implemented in Haskell.

Re: IOTA: A tangled mess

#103

Post by doktrin »

rootsudo wrote: post #96

I went to the IOTA meetup in Chicago, which was hosted and presented by the IOTA team. Never before did I see an entire audience be wowed by a women engineer. They ignored the whole Microsoft partnership idea; anyone that asked just was given the answer "it'd be explained in a future PR release." The drama was IOTA lied about microsoft partnership and deemed hosting on azure == partnership with microsoft. In talks wi…

> The drama was IOTA lied about microsoft partnership and deemed hosting on azure == partnership with microsoft

I wonder if this is a recurring theme in "crypto". At one point I followed NEO, and they pulled the exact same stunt.

Re: IOTA: A tangled mess

#104

Post by zaphar »

jayjay13 wrote: post #66
akerro wrote: post #2

IOTA wallet is full of really bad bugs, just look how bad it is on first pages, the more pages you skip, the worse it is. It still doesn't work on Linux, for many users wallet crashes or shows green screen and nothing more. Doesn't work through Wine either. https://github.com/iotaledger/wallet/issues Issues on github have no responses from developers since early November and there were no commits since than, what's s…

As far as I know there are no bugs in the wallet it's just not completly self explaining. tbh from my view there are just the wrong people in the whole space... 95% of the people are here to get rich quick and not for the developement and it's excatly these people who have problems with Key reuses and so on.. the people have to do their research in such a young space..

If your software is expected to have bugs then you shouldn't allow people to put money in it. You should be setting the expectation that the chain will get regular resets while you work out the kinks. You should be discouraging exchanges at every opportunity and shouting loudly at the world not to put money in your alpha release software.

It doesn't appear that IOTA is doing any of those things.

Re: IOTA: A tangled mess

#105

Post by rthomas6 »

dna_polymerase wrote: post #60
tasubotadas wrote: post #15

>The IOTA source code is written in JAVA instead of C++ like most professional cryptocurrencies are. That did not instill me with confidence. This made me lose any confidence in a person's capabilities in evaluating the coin. If anything, Java is way more (or any language with modern memory management) robust choice than C++ where security is concerned. In any case, I am highly skeptical of the IOTA as well.

Ethereum has a Go implementation. The Java argument is BS obivously. The protocol needs to be valid, not a single implementation.

To be fair, Ethereum also has a C++ and a Rust implementation.

Re: IOTA: A tangled mess

#106

Post by tfha »

cjhanks wrote: post #50
akerro wrote: post #2

IOTA wallet is full of really bad bugs, just look how bad it is on first pages, the more pages you skip, the worse it is. It still doesn't work on Linux, for many users wallet crashes or shows green screen and nothing more. Doesn't work through Wine either. https://github.com/iotaledger/wallet/issues Issues on github have no responses from developers since early November and there were no commits since than, what's s…

I have never seen a GitHub issues page quite like that. Pages and pages of issues ranging from; "Somebody stole thousands of dollars from me" to "My money is stuck and I can't get it out".

I've also read that the devs have seized funds from users. Specifically, if you use the same address twice in IOTA (extremely common habit in cryptocurrency), you reveal your secret key, and the devs will take your money.

Among many other wallet related issues.

Re: IOTA: A tangled mess

#107

Post by awirth »

tfha wrote: post #100
dna_polymerase wrote: post #60

Earlier quoted context omitted.

Ethereum has a Go implementation. The Java argument is BS obivously. The protocol needs to be valid, not a single implementation.

Single implementation is important for consensus systems. Look at e.g. the spurious dragon hardfork. The problem with multiple implementations is that if there is a tiny difference in behavior between them, you can only find out after damage has been done to the network via a split/fork.

You can have the exact same problem with just different versions or even configurations.

Re: IOTA: A tangled mess

#108

Post by degif »

AJRF wrote: post #30

The new UCL wallet is even worse. It’s supposed to be launched within the next few weeks. It made me lose $2000 worth of iota because of a loop in the code that resent transactions if you put the app in a background state. You know, a violation of the one canonical rule of using iota, I.e reusing an address. The iota foundation is a nefarious and bad intentioned bunch of crooks.

One of the developers for the UCL wallet here. Can you elaborate more on how did you lose money using a wallet that is not released publicly yet and is available only for a closed group of alpha testers who all have been instructed not to use the wallet with their accounts holding significant amount of iotas?

Re: IOTA: A tangled mess

#109

Post by rane »

izzle49 wrote: post #84
xg15 wrote: post #81

Pardon for off-topic, but the arguments he makes about double-spending (the third "rule" from that linked forum post) made me realize I have some gaps in my understanding how Bitcoin handles overlapping transactions. Suppose I have an address with 0BTC balance. (i.e. I have the private key of it on my PC. There isn't yet anything about that address in the blockchain.) Some other person sends 100mBTC to that address.…

I could be wrong but I thought miners were always in sync, miners are effectively writers to the ledger and single threaded. They all mine the same transactions in the same order. The first to find the hash with correct difficulty gets the block, which triggers the other miners to stop and verify. Once verified the new block becomes the seed for the next block. So the first transaction will always be processed before…

Not true. Each miner may choose by whatever logic which transactions to include in the block they are mining. They are however are likely to prefer those which pay higher fee.
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