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IOTA: A tangled mess

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Re: IOTA: A tangled mess

#121

Post by degif »

Gargoyle wrote: post #114
pimeys wrote: post #67

Earlier quoted context omitted.

Tell me about it. I need to follow the tech and communities as part of my job, and sometimes it's seriously hard to have any discussions e.g. in IOTA's Slack channels. On the contrary, Monero uses IRC for their communication and maybe because of that I've seen more adult discussions in their community. Of course lots of money being on the table, things can get pretty sour everywhere.

It's a shame, quality conversation can help a coin project in the long run. But it's clear that right now IOTA is in the pump-or-you're-a-fud-shill phase and communication is impossible.

Communication is possible if you talk to the right people. Keep in mind that the people who are actually working on the technology itself or it's adaptation and implementation are not hanging all day around on reddit or #speculation channels. I'm running an iota network statistics page, so people assume i'm more educated about iota and I receive clarification, technological or simple development questions on Slack on daily basis. I do answer all of them as best as I can, a lot of them have been evolved in pretty long discussions and I have received the same attitude from other iota community members.

Re: IOTA: A tangled mess

#122

Post by narrator »

cromwellian wrote: post #22

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…

You could always switch to Dogecoin, which is similar to Bitcoin, but has very high inflation. You could even fork Bitcoin and make a Federal Reserve Board including yourself that could decide to issue more currency based on economic statistics. You could call it KeynesCoin. That's the great thing about Crypto. It's all open source, so do whatever you want.

Re: IOTA: A tangled mess

#123

Post by tfha »

jayjay13 wrote: post #62

the recent network issues are really annoying but if you run your own full node tx are confirmed in max 20min. something that should be kept in mind IOTA is in early beta and was always promoted as that. when people start to pump it and without reading an announcement right, why should that be iotas fault? and about the usability of iota, when have you started with cryptos? go back to 2011 and look for a good usable…

They are about to prove their network works after making unreasonable assumptions as prerequisites to the proof.

Re: IOTA: A tangled mess

#124

Post by jackstraw14 »

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.

So then it goes without saying that you reported this bug, before calling people nefarious, bad-intentioned crooks?

Re: IOTA: A tangled mess

#125

Post by watoc »

jackstraw14 wrote: post #118
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…

Microsoft claimed the partnership with IOTA -- not the other way around: https://blog.iota.org/iotas-data-marketplace-setting-the-rec... The quote that set off this confusion: > We are excited to partner with IOTA foundation and proud to be associated with its new data marketplace initiative. This next generation technology will accelerate the connected, intelligent world and go beyond blockchain that will foster inn…

It's difficult to trust that Microsoft claimed it when you only provide a link to iota website.

Re: IOTA: A tangled mess

#126

Post by jackstraw14 »

tfha wrote: post #106
cjhanks wrote: post #50

Earlier quoted context omitted.

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.

Citation for your claim? The story I've read is that the IOTA Foundation will hold your funds so you can reclaim them.

Re: IOTA: A tangled mess

#127

Post by wyldfire »

Bruce Schneier had this to say about IOTA:

> In 2017, leaving your crypto algorithm vulnerable to differential cryptanalysis is a rookie mistake. It says that no one of any calibre analyzed their system, and that the odds that their fix makes the system secure is low

Re: IOTA: A tangled mess

#128

Post by jackstraw14 »

watoc wrote: post #125
jackstraw14 wrote: post #118

Earlier quoted context omitted.

Microsoft claimed the partnership with IOTA -- not the other way around: https://blog.iota.org/iotas-data-marketplace-setting-the-rec... The quote that set off this confusion: > We are excited to partner with IOTA foundation and proud to be associated with its new data marketplace initiative. This next generation technology will accelerate the connected, intelligent world and go beyond blockchain that will foster inn…

It's difficult to trust that Microsoft claimed it when you only provide a link to iota website.

IOTA made the announcement on their official blog, so as far as I know it's the source. If you're saying you don't trust the devs, then I guess we're talking about something different than I thought.

Here's the quote from the Microsoft guy involved, that caused the confusion:

> We are excited to partner with IOTA foundation and proud to be associated with its new data marketplace initiative. This next generation technology will accelerate the connected, intelligent world and go beyond blockchain that will foster innovation real world solutions, applications and pilots for our customers. --Omkar Naik

Re: IOTA: A tangled mess

#129

Post by pavlov »

jackstraw14 wrote: post #128
watoc wrote: post #125

Earlier quoted context omitted.

It's difficult to trust that Microsoft claimed it when you only provide a link to iota website.

IOTA made the announcement on their official blog, so as far as I know it's the source. If you're saying you don't trust the devs, then I guess we're talking about something different than I thought. Here's the quote from the Microsoft guy involved, that caused the confusion: > We are excited to partner with IOTA foundation and proud to be associated with its new data marketplace initiative. This next generation tech…

“IOTA clarifies it has no formal partnership with Microsoft”: https://thenextweb.com/hardfork/2017/12/12/iota-partnership-...

Re: IOTA: A tangled mess

#130

Post by runeks »

sandGorgon wrote: post #33
runeks wrote: post #10

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.

And to deal with this problem, they have "trusted supernodes", with a promise to turn them off when the network is self sustaining. 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.

> And to deal with this problem, they have "trusted supernodes", with a promise to turn them off when the network is self sustaining.

I don’t see how the network can ever become self-sustaining if attackers only need to create more transactions than everyone else combined. Sure, as usage increases, the number of transactions an attacker would need to produce increases as well, but so does the attacker’s potential reward — since there will be more IOTA users against which he can double spend.

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