IOTA being shut off is the latest chapter in an absurdist history

”I was a green crypto reporter approached by the press team for former beauty queen and reality TV contestant Jessica VerSteeg, who wanted to open a cannabis business in California. [...] VerSteeg wanted to use the IOTA protocol, named for its proposed functionality with internet-of-things (IoT) devices, in a coworking space for cannabis startups.”

This project is peak 2017 bullshit. I can imagine the pitch deck: “It’s WeWork but for cannabis startups using IoT on the blockchain promoted by a reality TV star!”

Re: IOTA being shut off is the latest chapter in an absurdist history

#5

Post by britmob » Wed, Feb 26, 2020, 3:57 PM UTC

diegoperini wrote: post #2

Omg, I just lost my only crypto investment if this isn't fixed. The amount I lost: 100 USD

You lost $71? That’s unfortunate. Should’ve bought more than $172 of IOTA.

Re: IOTA being shut off is the latest chapter in an absurdist history

#6

Post by 1337biz » Wed, Feb 26, 2020, 4:05 PM UTC

Tempting to buy. I bet some bullshitters are going to revitalize them.

Re: IOTA being shut off is the latest chapter in an absurdist history

#7

Post by Moodles » Wed, Feb 26, 2020, 4:15 PM UTC

Still waiting for a use case of blockchain outside cryptocurrency also.

Re: IOTA being shut off is the latest chapter in an absurdist history

#8

Post by zelly » Wed, Feb 26, 2020, 4:16 PM UTC

Crytpocurrencies are not valued on its software (even though paradoxically, what makes it different from other currencies is that it's only software). Otherwise the best software would have the highest market cap, which obviously isn't the case. This is true to such an extreme degree that it doesn't even matter if the cryptocurrency is used, works, or even have a single working implementation. Seriously, there are top >100M market cap coins that have never shipped a working binary.

Re: IOTA being shut off is the latest chapter in an absurdist history

#9

Post by thaumasiotes » Wed, Feb 26, 2020, 4:19 PM UTC

zelly wrote: post #8

Crytpocurrencies are not valued on its software (even though paradoxically, what makes it different from other currencies is that it's only software). Otherwise the best software would have the highest market cap, which obviously isn't the case. This is true to such an extreme degree that it doesn't even matter if the cryptocurrency is used, works, or even have a single working implementation. Seriously, there are to…

> there are top >100M market cap coins that have never shipped a working binary.

How do people know who has how many coins?

Re: IOTA being shut off is the latest chapter in an absurdist history

#10

Post by lawn » Wed, Feb 26, 2020, 4:21 PM UTC

Moodles wrote: post #7

Still waiting for a use case of blockchain outside cryptocurrency also.

Consider a timestamping service that's based on mathematical proof instead of social proof.[0]

But I agree, most often blockchain outside of a cryptocurrency doesn't make sense. This use case also depends on the security of an existing cryptocurrency.

[0] https://whycryptocurrencies.com/timestamping_service.html