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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

#21

Post by abrkn »

justboxing wrote: post #15
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 hate how all the coin subs on reddit call anything that's not postive about their coin as F.U.D. Someone posted this 'rebuff' to your blog post on reddit. https://www.reddit.com/r/CryptoCurrency/comments/7we3x0/rebu... Direct link: https://medium.com/@ralf/andreas-brekken-proves-he-has-no-cl...

IOTA an insane cult driven by fear of losing money. No one uses the software. They use social media to attract more bag holders.

I read the "rebuff". He looked up the wrong company named "Helix"... I'm not affiliated with the entity he mentions.

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

#22

Post by simias »

His experience is what I would expect from anybody trying pre-alpha software which is probably what IOTA is right now (at least, that seems to be the common defense from it's proponents, "it's temporary, it's going to change"). The absurd part is that it's pre-alpha software that has a market cap in billions of dollars thanks to the wild speculation around cryptocurrency/blockchain stuff.

I mean, the simple fact that IOTA currently de-facto centralized, doesn't plan on using PoW to secure the chain and promises almost-free transactions should make investors very cautious. They're promising what nobody has managed to achieve yet and the only thing they have to show for it is a whitepaper and the promise that very clever people are working on it.

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

#24

Post by Asdfbla »

It's funny how many of the cryptocoins pretend that they have some domain-specific use case (here IoT, which for reasons(?) needs a distributed ledger) that justifies their existence. Guess people can make a business out of thinking up ever more creative justifications for new coins.

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

#25

Post by cuspycode »

abrkn wrote: post #7
muthdra wrote: post #6

Earlier quoted context omitted.

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.

How about a review of one that is marketed as anonymous or privacy-friendly? For example Monero or PIVX. Many people still incorrectly believe that Bitcoin transactions are anonymous (yes, I know they can be anonymous if you make an effort to make them anonymous, but by default they are not).

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

#26

Post by abrkn »

simias wrote: post #22

His experience is what I would expect from anybody trying pre-alpha software which is probably what IOTA is right now (at least, that seems to be the common defense from it's proponents, "it's temporary, it's going to change"). The absurd part is that it's pre-alpha software that has a market cap in billions of dollars thanks to the wild speculation around cryptocurrency/blockchain stuff. I mean, the simple fact that…

Why would something that is "pre alpha" be worth billions of dollars? Just doesn't make sense. IOTA has no utility today.

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

#28

Post by Ixiaus »

Tepix wrote: post #13

Great article. I chuckled quite a bit. This reminds me of my attempts to check out Cardano. There was no working Linux client. (I checked again today: Still no Linux client. The latest release of the software appears to be from September 2017). I then tried to build from source. I'm doing some Node development so I have Node v8.x installed (the current LTS version). Turns out the wallet requires Node v6. At that poin…

There is a working Linux client. Note that the "wallet" is a Haskell-based node (cardano-sl) that serves a restful http server that the front-end app (Daedalus) connects to.

I built both components back in November and could run it, I just did the same now.

Official Linux packaging would be great but until they get there you can build and run everything yourself.

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

#29

Post by JohnJamesRambo »

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…

Have you looked into Stellar Lumens? I'd be interested to hear your thoughts on it and if it fits your requirement of being usable for its supposed use. It seems so on the surface to me, but I don't know what the look under the hood reveals.

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

#30

Post by wiradikusuma »

abrkn wrote: post #18
justboxing wrote: post #12

Earlier quoted context omitted.

Don't know if it's a shitcoin, but can you review XRP / Ripple? The company claims that 100s of banks and financial institutes are using their technology, but ALL 100+ institutions are only evaluating / doing pilots. Company has been around since 2011, I am very curious why there isn't a single big name that has put it's weight behind this for real production use.

I interviewed to work at Ripple in 2013! I don't know how interesting the review would be. Ripple is completely centralized. I'll think about it.

Few days ago there was a post in HN basically saying "centralized = no need blockchain" -- why they need to do in blockchain then?
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