191–200 of 253 posts
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Citation for your claim? The story I've read is that the IOTA Foundation will hold your funds so you can reclaim them.
The system is clearly not decentralized, if one organization can hold your funds for "misbehavior".
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
How is it vulnerable to differential analysis?
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…
>the whitepaper is intentionally indecipherable I decided to see whether this statement is justified. Before starting --------------- I am about to read the whitepaper now, but before I do, I want to set up some standards for how I will judge that it is "intentionally indecipherable". First, I want to think of examples of intentionally indecipherable language. I have these examples in mind: 1. We have many examples f…
So you are evaluating the quality of a 28 pages paper by reading only the introduction ?
Are you intentionally retarded ?
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You don't think the concerns he listed about the instability of the network, current centralization of nodes, and the fact that one of the founders offered to buy his silence are legitimate complaints?
About centralization: IOTA is not any more centralised than Bitcoin where a very small number of people control most of the miners and exchanges. The difference between IOTA and Bitcoin in that respect is that Bitcoin can only get worse whereas IOTA can only get better. I don't believe that the founder of IOTA would buy OP's silence in such a blatant way. There are tons of people bashing IOTA all the time - The found…
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>the whitepaper is intentionally indecipherable I decided to see whether this statement is justified. Before starting --------------- I am about to read the whitepaper now, but before I do, I want to set up some standards for how I will judge that it is "intentionally indecipherable". First, I want to think of examples of intentionally indecipherable language. I have these examples in mind: 1. We have many examples f…
> I only read 2 pages. So you are evaluating the quality of a 28 pages paper by reading only the introduction ? Are you intentionally retarded ?
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…
>the whitepaper is intentionally indecipherable I decided to see whether this statement is justified. Before starting --------------- I am about to read the whitepaper now, but before I do, I want to set up some standards for how I will judge that it is "intentionally indecipherable". First, I want to think of examples of intentionally indecipherable language. I have these examples in mind: 1. We have many examples f…
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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 scary thing is that IOTA is considered a top 10 cryptocurrency. The worst thing is that I can't find a useful alternative crypto currency that can be used stand alone (ie without converting to BTC) for e-commerce. Only choices are BTC with its high fees and to some extent BCH. Even Litecoin which is easy to use doesn't have many uses. Dash, Monero and Zcash make bold claims but aren't particularly useful at the m…
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>the whitepaper is intentionally indecipherable I decided to see whether this statement is justified. Before starting --------------- I am about to read the whitepaper now, but before I do, I want to set up some standards for how I will judge that it is "intentionally indecipherable". First, I want to think of examples of intentionally indecipherable language. I have these examples in mind: 1. We have many examples f…
> I only read 2 pages. So you are evaluating the quality of a 28 pages paper by reading only the introduction ? Are you intentionally retarded ?
I did glance through some more of the paper, though I did not read it carefully.
I didn't find anything that tripped any of my criteria, mentioned beforehand, for whether it's an intentionally indecipherable paper: did you see anything like that?
Please note that this is not an endorsement of the paper.
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The deflationary aspect is the number one reason I’ve never bought into a crypto currency. I have serious ethical and moral issues that prevent me. In addition to hoarding, deflationary currencies (like gold) cause people to spend lots of money and effort trying to get other people to buy into them too. For me, it’s a very sad thing to watch unfold. It’s like when the ‘buy gold’ commercials started appearing on Fox N…
I don't understand why that's an ethical dilemma. Do you not have a problem with disproportionately increasing the cost of living for the poor[0] or forcing the mddle class to subsidize big corporations [1] or creating an economy where corporate survival is tied to consumption, leading to innovations in "disposable product strategies"? [0] let's say you're spending 90% of your income on cost of living and there's 10%…
But, if you're seriously and genuinely interested in my perspectives, let's talk more. I've been thinking of economics, currencies, labor, income, and wealth for probably 25 years. It's a huge hobby of mine. I've been enthusiastically monitoring crypto-currencies ever since Bitcoin emerged and have been thinking about them for even longer. I could probably write 100s of pages on my thoughts. But, HN is definitely not the place to start that type of in-depth discussion.
($$) Political debates (especially online) are rarely productive. A person's political views are built on so many low-level things that it's a very personal thing. I used to love political debates when I was younger - it just felt so good. But, I've learned that people's politics don't budge much. So, while interesting, it's ultimately not useful.