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IOTA: The Brave Little Toaster That Couldn’t

casey.github.io

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Re: IOTA: The Brave Little Toaster That Couldn’t

#51

Post by wyldfire »

relyio wrote: post #40
wyldfire wrote: post #23

Earlier quoted context omitted.

> You cannot have a trustless consensus without a mining incentive This is not true, Proof-of-stake creates a suitable incentive to verify transactions and maintain the network. It's a legitimate alternative to proof-of-work.

You understood OP wrong. He is not saying that PoW is the only viable method of securing the chain, but rather, that you need a mining incentive . There is such a mining incentive in proof-of-stake, block signers get rewarded.

I think you must have misread what I wrote because I specifically mentioned incentive.

> There is such a mining incentive in proof-of-stake, block signers get rewarded.

Not in all PoS coins, actually. And arguably you don't need it. Your stake's value is contingent on fulfilling the implicit promise of the network: honest, accurate, fast transactions.

Re: IOTA: The Brave Little Toaster That Couldn’t

#52

Post by elmar »

wyldfire wrote: post #23
wildbunny wrote: post #10

Not to mention that the central consensus mechanism is completely broken. You cannot have a trustless consensus without a mining incentive: Quoted from my post linked below: o) Network hashrate is the overall power of the network - in bitcoin, this is the computing power needed to generate a block. o) Bitcoin employs a mining reward which creates a competition between miners to produce a block and claim their reward…

> You cannot have a trustless consensus without a mining incentive This is not true, Proof-of-stake creates a suitable incentive to verify transactions and maintain the network. It's a legitimate alternative to proof-of-work.

Nothing is Cheaper than Proof of Work (2015) http://www.truthcoin.info/blog/pow-cheapest/

Re: IOTA: The Brave Little Toaster That Couldn’t

#53

Post by elmar »

wyldfire wrote: post #37
elmar wrote: post #27

Earlier quoted context omitted.

Nothing is Cheaper than Proof of Work (2015) http://www.truthcoin.info/blog/pow-cheapest/

That's not an answer to the question. The answer to the question is "yes". DPoS coins: Nano, Lisk, Ark, etc. I think it's a good article but "equitable distribution" is a big function of PoW that I thought was a critical ingredient but now I'm not so sure.

> That's not an answer to the question

I submitted in the wrong thread

Re: IOTA: The Brave Little Toaster That Couldn’t

#54

Post by lambdas »

enthd wrote: post #21
lambdas wrote: post #11

Is this the same coin that has both incredibly rude developers and one that claims to have invented time travel?

Wow, really? Do you happen to have any sources? I'd be curious to see. Thanks!

Yeah it was on his domain at http://come-from-beyond.com, unfortunately since last month he's not renewed it and wayback just loads a blank page.

Shame, I'm going to see if it's available anywhere as it was a riot. Technology NASA is making him keep secret until this countdown he had going.

Re: IOTA: The Brave Little Toaster That Couldn’t

#55

Post by dsacco »

JCharante wrote: post #49
enthd wrote: post #21

Earlier quoted context omitted.

Wow, really? Do you happen to have any sources? I'd be curious to see. Thanks!

re: time travel. Check out their website and specifically the team page.

Their website (iota.org) does not appear to have any team page. Do you mind posting a specific link?

Re: IOTA: The Brave Little Toaster That Couldn’t

#56

Post by rodarmor »

aars wrote: post #25

Nice writeup. Though you might want to proof read it a few (more) times. "since The Coordinator is the current the arbiter of truth in the IOTA system" "Similarly, transaction outputs that appear in a snapshot [6] are more valuable than those that have." And a couple more like these.

Oh snap, thanks for catching those. I actually fixed those in the source, but didn't render them and update the site.

Re: IOTA: The Brave Little Toaster That Couldn’t

#57

Post by tim333 »

verroq wrote: post #48
izelkay wrote: post #43

Earlier quoted context omitted.

The writer of the article essentially admitted it was bullshit and wrote it just to manipulate the market: https://twitter.com/ShitcoinDotCom/status/965910847645212672

Where is the part where he admitted it was bullshit?

Indeed "Our short of #IOTA on @bitfinex has closed at a profit of over 30%. Who said writing doesn't pay?" could open him to criminal prosecution if it was bullshit. It's legal to short something and make legitimate criticisms but spreading lies to drop the price is not.

Re: IOTA: The Brave Little Toaster That Couldn’t

#58

Post by veeti »

andrewla wrote: post #38

The main thing here is that IOTA is not a _decentralized_ cryptocurrency. Given that there are centralized cryptocurrencies in circulation, it makes more sense to compare IOTA to something like Ripple or Stellar than to compare it to Bitcoin. In that light, most of the other objections go away -- censorship resistance is not an advertised feature; double-spends are only detectable when the coordinator milestone; fung…

https://iota.org/

> Scalable, Decentralized, Modular, No Fees

Re: IOTA: The Brave Little Toaster That Couldn’t

#59

Post by fru2013 »

lambdas wrote: post #54
enthd wrote: post #21

Earlier quoted context omitted.

Wow, really? Do you happen to have any sources? I'd be curious to see. Thanks!

Yeah it was on his domain at http://come-from-beyond.com , unfortunately since last month he's not renewed it and wayback just loads a blank page. Shame, I'm going to see if it's available anywhere as it was a riot. Technology NASA is making him keep secret until this countdown he had going.

There are some snapshots on archive.is. One is of the about page and another is of a blog post.

1. http://archive.is/GebOA

2. http://archive.is/KoPRm

Re: IOTA: The Brave Little Toaster That Couldn’t

#60

Post by izelkay »

lambdas wrote: post #54
enthd wrote: post #21

Earlier quoted context omitted.

Wow, really? Do you happen to have any sources? I'd be curious to see. Thanks!

Yeah it was on his domain at http://come-from-beyond.com , unfortunately since last month he's not renewed it and wayback just loads a blank page. Shame, I'm going to see if it's available anywhere as it was a riot. Technology NASA is making him keep secret until this countdown he had going.

FYI: This is a fake webpage. The creators have nothing to do with it. You're an imbecile for believing such a thing.
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