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

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

#71

Post by gunshai »

Aaronstotle wrote: post #31

Good riddance, I remember during the bull run my friend was talking about Iota. I was into mining at the time and looked up how to mine it. Read about the project and knew it was scam then, not sure how it survived until now. Looking forward to the day where the shitcoins die off and there's only a handful of cryptos on exchanges/people talk about.

>Read about the project and knew it was scam then

I felt this way for quite a few projects and I'll be honest I felt too smart by half by passing, I don't regret my risk adverse nature though.

Some of the most lucrative offers were obvious bullshit, but it didn't matter at all. Crowds were so frenetic about where the next "big project" was they didn't and couldn't comprehend that they were being fleeced.

It wasn't until a buddy of mine talked about his nephew "wanting to invest in X coin because the price was low".

Lot's of hype = lot's of dumb money ∴ Profits can be made on where dumb money flows.

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

#72

Post by gunshai »

Moodles wrote: post #7

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

Sort of a silly assertion as what's baked into your question is.

"I'm waiting for a use case of blockchain outside assets"

Which there are plenty of entities using or applying blockchain tech as a means of tracking the immutable transfer of assets. That's a fairly large market place. Does it need to be more than that?

This shit isn't gonna cure cancer, tell you why you sometimes you have wondering sexual thoughts, or run your life for you.

It may be valuable for some applications.

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

#73

Post by 101404 »

psychlops wrote: post #66
101404 wrote: post #50

Earlier quoted context omitted.

> misogynist ... founders Where you got that from?

From this: "By 2019, members of the IOTA community earned a reputation for routinely harassing women security experts, like Open Privacy founder Sarah Jamie Lewis, who found flaws in IOTA research." Fair enough that it's implicating the community and not the founders, but is in the same paragraph with the Sonstebo/Narula scandal. I see that I did infer, but perhaps that was the intent.

So one unproven claim from one person, amplified by an author who has a clear intent to paint the project as bad.

Congratulations.

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

#74

Post by nradov »

lawn wrote: post #43
Blackthorn wrote: post #32

This project is the gift that keeps on giving when it comes to hilarity and schadenfreude. Custom hash function? Bizarre obsession with trinary? Complete centralization in a space where decentralization is the point? Constant big announcements with no substance? I love watching these guys and their supporters. It's like watching an internet cult in real time.

During a lunch the topic of cryptocurrencies came up and a co-worker of mine said he'd invested in IOTA and EOS (another nonsense coin). The thing is I think he's smart and a programmer with the head in the right place and has made a ton of very good decisions at work. So if you think these projects only attract idiots and fools you're wrong. Smart people can also be fooled.

As another example, doctors and dentists have traditionally been prime targets for investment scammers long before cryptocurrencies were invented. They're intelligent in a particular field and have money, but often lack business experience and common sense.

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

#75

Post by mopsi »

Moodles wrote: post #7

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

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

https://news.lockheedmartin.com/2017-04-27-Lockheed-Martin-C...

https://www.ericsson.com/en/press-releases/2014/9/ericsson-a...

https://nortal.com/blog/blockchain-healthcare-estonia/

etc.

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

#76

Post by decentralised »

zelly wrote: post #67
shp0ngle wrote: post #42

Earlier quoted context omitted.

DNS on a blockchain is actually the very first altcoin, before even Litecoin. 2011. It’s not really usable though; all the “dns on blockchain” means just “well we can store arbitrary data on the blockchain, some are parseable as DNS records maybe, and then I guess we can parse all the chain to get all the records???” it was as meaningful in 2011 as it is in 2020

A blockchain alone is a horrible data structure for random access lookup. There were so many hacks that had to be done to make Bitcoin work efficiently on BerkeleyDB and LevelDB. Ethereum lets you do general purpose computing, so there are nameservers that just use a hash table. That's how ENS (.eth) works. But at that point it's not really "DNS as a blockchain"; it's more like ICANN but running on Ethereum miners's…

You are making an assumption about how blockchains work. Do you think the linked-list like structure of how blocks are added to the chain is how data is stored and retrieved?

For reference: https://en.bitcoin.it/wiki/Bitcoin_Core_0.11_(ch_2):_Data_St... https://hackernoon.com/getting-deep-into-ethereum-how-data-i...

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

#77

Post by koonsolo »

Moodles wrote: post #7

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

The history of a second hand car is currently scattered all over the place, even with missing data. Some entities try to collect it all, but it is difficult.

Every car has a unique VIN, so imagine all data of the car is written to a blockchain. Maintenance, mileage, accidents, etc. When you buy a car, you check the blockchain and get a complete history, unable to tamper with afterwards.

Of course you have to trust the entities that write the info. But the more trustworthy entities, the harder a malicious entity can withhold or provide false info.

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

#78

Post by psychlops »

Zenbit_UX wrote: post #49
lawn wrote: post #43

Earlier quoted context omitted.

During a lunch the topic of cryptocurrencies came up and a co-worker of mine said he'd invested in IOTA and EOS (another nonsense coin). The thing is I think he's smart and a programmer with the head in the right place and has made a ton of very good decisions at work. So if you think these projects only attract idiots and fools you're wrong. Smart people can also be fooled.

OK, I'll take the bait, why is EOS a nonsense coin?

Don't bother, this comment section is a mirror image of the reddit echo chamber. It's either a shitcoiner or nocoiner mentality, no reasoning just emotional momentum from a keyboard.

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

#79

Post by mrtksn »

dylkil wrote: post #18
alephnan wrote: post #12

> First their custom-made hash-function was broken and you could forge transactions. Now they had to shut down their network because their wallet was hacked. This is insane because you should not be able to shut down a decentralized network.

it was never decentralised, they openly admitted this. They had 'plans' to decentralise it. The hype around this project was supported by nothing other than shills and bots, hoping to sucker in a few clueless noobs.

It was amazing, there were headlines all the time about something huge that happens but no one ever followed up anything.

"Tokyo chooses IOTA"

You assume that that city is implementing IOTA, right? If you dig deep enough you will see that what actually happens is that few people from IOTA will participate in something like a seminar with a workshop in Tokyo. It is organized by somebody in the city administration as part of some social program and there are 30 participants and what IOTA is chosen for is to be among those.

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

#80

Post by api »

cultus wrote: post #47
lawn wrote: post #43

Earlier quoted context omitted.

During a lunch the topic of cryptocurrencies came up and a co-worker of mine said he'd invested in IOTA and EOS (another nonsense coin). The thing is I think he's smart and a programmer with the head in the right place and has made a ton of very good decisions at work. So if you think these projects only attract idiots and fools you're wrong. Smart people can also be fooled.

Gullibility and analytical intelligence are not mutually exclusive.

There's a fairly substantial overlap between the people who completely drank the cryptocurrency kool-aid and the people who got sucked into so-called "alt-right" and associated fellow-traveling stuff ("red pill," NRx, etc.) around the same time period. Seems like there were some incredibly virulent meme plagues that afflicted the high-IQ-but-gullible crowd in the middle part of this decade.

Cryptocurrency has done a lot of damage to the tech world due mostly to the sheer amount of brainpower it's sucked up that might otherwise have been used for more useful stuff. It's been kind of a tar pit where you have vast resources chasing things that have no actual real world value. It sort of reminds me of that Star Trek TNG episode where they try to kill off the Borg collective by giving them an impossible geometric shape to ponder endlessly.

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