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IOTA: Cannot be used for IoT, loss of funds may occur

shitcoin.com

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Re: IOTA: Cannot be used for IoT, loss of funds may occur

#2

Post by blakenomad »

I held IOTA from when it was $0.30 and always kept it on Bitfinex as to me, the wallet was unusable (sorry, I’m not an engineer). I hodl’d until a couple of months ago but couldn’t take having my coins on an exchange.

I even tried setting up the mobile wallet but kept getting errors, like in this post.

I’m over it. But I think you need to see this from a layperson’s point of view. It’s difficult to use and overly complex. Until that changes, I won’t be back.

Re: IOTA: Cannot be used for IoT, loss of funds may occur

#5

Post by abrkn »

buttershakes wrote: post #4
abrkn wrote: post #3

I'm the author of the blog post. Thanks for posting! I can answer any questions you have about the IOTA review or other shitcoin reviews.

I love this idea, can I write some guest shitcoin reviews? :)

That could happen! Send me a Twitter DM, @abrkn

Re: IOTA: Cannot be used for IoT, loss of funds may occur

#6

Post by muthdra »

abrkn wrote: post #3

I'm the author of the blog post. Thanks for posting! I can answer any questions you have about the IOTA review or other shitcoin reviews.

I love learning about cryptocurrencies through shitcoins. It helps keeping perspective in check. Keep up the great work.

Re: IOTA: Cannot be used for IoT, loss of funds may occur

#7

Post by abrkn »

muthdra wrote: post #6
abrkn wrote: post #3

I'm the author of the blog post. Thanks for posting! I can answer any questions you have about the IOTA review or other shitcoin reviews.

I love learning about cryptocurrencies through shitcoins. It helps keeping perspective in check. Keep up the great work.

Thanks! If you have a shitcoin you want me to review, I'm open to suggestions.

Re: IOTA: Cannot be used for IoT, loss of funds may occur

#8

Post by Vekz »

abrkn wrote: post #3

I'm the author of the blog post. Thanks for posting! I can answer any questions you have about the IOTA review or other shitcoin reviews.

Great blog idea. I really enjoy how you are reviewing the hands-on user experience of working with a coin and chain.

Re: IOTA: Cannot be used for IoT, loss of funds may occur

#9

Post by andr »

Of course it's not meant for IoT. It's written in Java, has the whole ternary nonsense going, and uses custom crypto, which would be really slow to implement, compared to hardware-accelerated RSA or AES most cheap embedded chips have nowadays.

I, for one, am excited for the moment a cryptocurrency arrives that is actually usable for its supposed use. Every time someone claims to be a cryptocurrency for X (be it file sharing, IoT, attention, etc.), X is really just speculation.

Re: IOTA: Cannot be used for IoT, loss of funds may occur

#10

Post by abrkn »

andr wrote: post #9

Of course it's not meant for IoT. It's written in Java, has the whole ternary nonsense going, and uses custom crypto, which would be really slow to implement, compared to hardware-accelerated RSA or AES most cheap embedded chips have nowadays. I, for one, am excited for the moment a cryptocurrency arrives that is actually usable for its supposed use. Every time someone claims to be a cryptocurrency for X (be it file…

They've had some other scandals too! "Emptied IOTA Wallets: Hackers Steal Millions Using Malicious Seed Generators"[1]

[1] https://www.ccn.com/a-number-of-iota-wallets-emptied-by-hack...

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