151–160 of 253 posts
IOTA is the only big cryptocurrency that seems extremely fishy to me. The trick is that even a fairly technical person (like me) cannot easily refute it based on the whitepaper, because the whitepaper is intentionally indecipherable, and does not have enough information to evaluate the project anyway. The average person sees such a whitepaper, and is amazed by the complicated scientific formulas. A good engineer/scie…
IOTA is the only big cryptocurrency that seems extremely fishy to me. The trick is that even a fairly technical person (like me) cannot easily refute it based on the whitepaper, because the whitepaper is intentionally indecipherable, and does not have enough information to evaluate the project anyway. The average person sees such a whitepaper, and is amazed by the complicated scientific formulas. A good engineer/scie…
What is BCASH? Do you mean Bitcoin Cash?
IOTA is the only big cryptocurrency that seems extremely fishy to me. The trick is that even a fairly technical person (like me) cannot easily refute it based on the whitepaper, because the whitepaper is intentionally indecipherable, and does not have enough information to evaluate the project anyway. The average person sees such a whitepaper, and is amazed by the complicated scientific formulas. A good engineer/scie…
What is BCASH? Do you mean Bitcoin Cash?
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> deflationary ? It is deflationary because it is known what the total number will be, and coins will be permanently lost over time. > Any user who joins the network They do this out of free choice do they not? No one is coerced into acquiring bitcoin. There isn't even a coordinating body, like a company, that controls the issuance or exchange of tokens. I would encourage any person that invests in anything to unders…
Bitcoin is inflationary until the year 2140, and assuming no fork changes that sooner. If you actually understand Satoshis algorithm and history you'll take notice at how the supply was intended to benefit the first few users to run the software during the brief phase of hyperinflation and production for minimal work, while later users are punished merely for running the same protocol and offering the same computatio…
BTW, administrative issues: I wonder why my previous post with the same link less than 1 day ago was not reused for this thread https://news.ycombinator.com/item?id=15935601 is this a HN bug? Just today I tried to post an article already posted three days ago and I was directed to the first post thread.
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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.
On top of that, all of his technical issues with IOTA turned out, by his own admission, to be using the network wrong. Not understanding that buying 1,000s worth of an obscure cryptocurrency is going to come with a heafty dose of RTFM is a fool's errand. Instead of realizing this, the denial in him turns this into "victim blaming." that said - he's right about IOTA. If that type of use is what it takes to make everyt…
>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.
This is unfortunate, because the factual reporting he can offer, located towards the bottom of the page, describes a situation wildly contrary to the claims made on IOTA's behalf, and is suggestive of a code base that is unready, fragile, and teetering (at best) on the edge of fraud.
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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.