Bitcoin Forum

Good Morning! I want to talk about this coin and because I think it's going to be a gamechanger in the world of cryptos.

If we look at history we are always interested in developing ways to exchange goods. First we started with barter, a cow in exchange for 100 kilos of bread, everything seemed perfect until someone thought that he did not want 100 kilos of bread but only 10. Did we change a piece of cow? It did not seem like a good idea.

Then the money was born! Which solved this problem, now you could change the cow for its value in coins, (which were of a material resistant to the passage of time and also were scarce). Now the cow could be exchanged for 100 gold coins and with them buy as much bread as you wanted.

Money was with us for a long time, until major events such as world wars caused many countries to abandon gold in order to be able to print real-money tickets, now the only currency with real support was the dollar, backed by the Federal Reserve of USA, full of gold.
But in 1980 the US president also decided to charge the last gold standard and then for the first time we based our concept of value on nothing, the reputation of the banks was the only thing that supported the coins.

But this had its disadvantages, the first is that money was not finite like gold, could be printed infinitely, so there was a problem of real loss of value, what we know as inflation.

Then there was the problem that the owners of the printing machine were governments, all the power in very few hands, no transaction could be validated without going through a bank.

That is why in 2009, just like to the barter, the solution to money arrives! The Bitcoin and blockchain technology.

Bitcoin was able to develop a decentralized and finite currency, just like gold. However bitcoin and blockchain also have problems.

These are scalability, the notion of transaction fees, and the seemingly unavoidable trend toward centralization.

And here is where IOTA appears, which offers?
This currency is one of the first that offers a totally different technology, to begin with we do not have a blockchain, since there are no miners that make blocks and in which to place transactions. The transactions are confirmed by confirming two previous ones, your transactions will be validated by the tangle, which is roughly the blockchain of IOTA. This means that there is no cost for transactions. because there isnt miners to incentive.

Then there is the issue of scalability, in the blockchain the scalability is limited to the number of transactions that enter by block and the speed that these are undermined. In IOTA there is no concept of blocks, each new transaction that validates two older transactions, so that the bottleneck of the network is network activity. If there are few new incoming transactions, the older transactions will not be validated.

This is currently a problem however this is diluted as the number of users increases, ie IOTA scales naturally over time, while Bitcoin and blockchain in general need modifications in block size or frequency to maintain a reasonable approved transaction time, in addition this limitation also affects the cost of the commissions.

Well this is my post about IOTA. I want to share with you the knowledge of this wonderful coin and discuss it.

Hear more about IOTA here! (https://www.youtube.com/watch?v=T2FJ9hH66b8&t=1111s)

Yes Iota is looking like a game changer but I think it still needs time to rise. Their slack account has more than 20000 members and also they are organising a largest mobility conference this year. Tangle technology is also looking good. But one thing I don't understand why is this coin not listed on Bittrex or any other top crypto exchanges?

The coin is not listed on many exchanges because of the udnerlying technology that needs to be implemented. It is easier to add Tokens that run already existing blockchains. It has been announced by the IOTA team that more exchanges are comming soon.

I think it is quite a task for exchanges to adapt to handling the tangle network, I saw recently on slack that Bitpanda will be adding IOTA but not too sure of when.  IOTA is exciting.

IOTA - The Scam changer, a better name for your topic to consider.

Super bullish on IOTA. As soon as it manages to hit exchanges, I expect it to make some big waves

If you can take the time to write here why you think this, instead of just writing scam it would be a better comment. So please try again!
Ty

Your ignorance will put you in a grave someday.

1) IOTA doesn't have a blockchain. It is not a currency nor it is not a crypto.
2) IOTA is FULLY premined, just two years ago this was enough for people to put red flags.
3) IOTA already has 2,779,530,283,000,000 coins, not distributed almost at all.
4) IOTA had a ICO, this solo is enough to put a red flag on this shit, not even a shitcoin.
5) IOTA is highly centralized, this solo is enough to put a red flag and mark it as a scam.

Good luck, "investors" shills and ignorants.

I never heard such a coin as good as IOTA. Zero fees, fast transactions and inifinite scalability is a game changing technology indeed. Let's see how this innovative tech will evolved in the future.

If IOTA was such a game changer, it would have changed the game by now. As this didn't happen I call vaporware. We have far to many coins who's underlying tech solely exists in a whitepaper.

There is a bit of a buzz around IOTA for sure and as the comments above ask,
why is it not available for trading on the big exchanges now?


If this is the case posted above, then to me it does not look at all as appetising as before !
But what will happen is people will still buy into this as soon as it is available on exchanges
in order to "get rich quick"

Yes, this is exactly what the developers expect - to gain traction and to get some ignorants into buying it while the developers and early adopters (same people) will dump it hard.

Please. Read the Whitepaper. Or hear the video. The Unique scam here is your argument.

Why should I read it? I better mock you here rather than read a scam's whitepaper.

Just tell me, address my points:
1.Does IOTA has a blockchain? A cryptocurrency is defined by a blockchain!
2. Isn't IOTA fully premined? Is IOTA minable?
3. Aren't all the coins already in circulation? Doesn't this mean that it has 0.00001% of bitcoin's distribution?
4. ICO = scammy distribution. Did IOTA had a ICO or not?
5. Isn't the development of IOTA centralized? Are you able to contribute to it's development directly? Do you have access to their source code?

Where is the scam in these concerns? Why are you playing dumb? Are you dumb or a payed shill?

The definition of Cryptocurrency is a digital coin that use cryptography to secure the transactions.

IOTA have cryptography. A blockchain is not a requeriment to be a Cryptocurrency.


What is the reason to put red flags for this? Everything pre mined currency is a scam for you?


https://github.com/iotaledger

Your arguments looks like a trolling. Is hard take your arguments seriously.

I'm a IOTA holder off Course. Actually also run a full node 24/7. Im all in this proyect.

Yes, IOTA is a true major innovation in the world of cryptocurrency. No fees, graph decentralization and instant transactions. And yet, because of it being so different from others, I believe it truly faces problems. Exchangers are not adding it a lot, probably because of technology differences, just like you said. Add to that the issues with wallets showing zero balance. IOTA needs time to be acknowledged and improved.

IOTA will increase to September, so now It's time to buy It, how I think

Yes, everything premined is a scam and against the main principles of cryptocurrencies.
And yes also, there is no crypto without a blockchain, your centralized shitcoin will be just another (not even in the first 10 shitcoins without a blockchain) dead scam that claims to be a crypto without a blockchain.

That's the point of ICO coins /tokens age issued only once. This ensures optimum availability

I think that the reason why IOTA isnt fucking everything right now is by the nature of his protocol.

give me explain you, IOTA is a p2p system, like everything p2p system this become faster while more is used.

IOTA actually only have two months of activity in a single exchange (Bitfinex), es very premature.

I recomend you hear and look the video that i put on the bottom of main mensaje, may be more enlightening.

BYTEBALL is a superior DAG project.

If you want DAG get that instead.

forget iota

another iota sock puppet scam pumping thread

I will be compiling and entire list of these shit can sock puppet threads.

I see banano on all of them... although he said he sold most of his iota and bought byteball.

Byteball is different to IOTA, not is better, just different. Byteball has fees for example, this is crucial in the IoT development. the inexistence of fee allow the crypto to exploit a huge abanic of possibilities.

If you think that Byteball is a serious project, there isn't reason to reject IOTA, or call it scam.

Actually i bet by both.

ICO = SCAM
Ethereum = SCAM
Putting IOTA near ethereum doesn't make it legit!
Ethereum is a scam, IOTA is another scam!
No, not every single coin is highly centralized! Actually, there are plenty of distributed coins that are decentralized, fair and honest!

I suppose it depends if it the Tangle truly scales like it's supposed to. If it scales, then it wins.

By calling Ethereum a "scam," you have broadened the definition of the word such that it becomes meaningless. Why not simply say it's not (in your view) decentralized? Or that distribution is questionable? It seems the word scam is used very loosely in these forums.

Radix is the gamechanger, IOTA is a good project and better than a lot of whats out there but Radix is the next generation of cryptocurrency.

what about proof of stake coins like pivx and okcash, they are very good blockchain technology, iota is a nice project but the supply is massive, what do they aim to achieve? seems to me they aim to make it a legal tender rather than an empowerment for the poor, like what bitcoin had done for most African countries, empower the poor, and return the power to the people, we don't want another fiat in crypto world, if bitcoin can be 16 million and 21 million max, what is IOTA? before the price of IOTA be greater than bitcoin, it would have taken over 1 trillion or more to increase the market capitalization.

I "mostly" agree with this sentiment.  IOTA at face value when it came out just looked like another stab at a DAG based currency, but it also appeared to be in it's infancy with it's valuation derived from an ICO.  As a general rule, I'm exceptionally wary of ICO based coins/tokens, for various reasons not worth going into here.

Byteball is technologically and use case very similar to IOTA, but it's also far ahead in development, market penetration, and now edging towards real world use case adoption.

At the end of the day, when the crypto hype train slows down it will be those with a reliable and useful technology people want, and/or coins that have real world transnational utility.  I see GBYTE strongly already having the first, and getting better each day.  GBYTE also is now on the fast track to encourage vendor adoption so it's utility as an actual currency will become more and more possible.  Those together give me high hopes for the byteballers.

NOW WITH THAT SAID, recently I did some looking into IOTA, and I do like it.  I see some really potential here too, but it seems much more nascent and the current value/market cap I don't see as representative of their true current stage of development (overvalued).  I've bought in a small amount both on PnD spec, and failing that a long term hold with optimism they can deliver something truly good.

If I had to choose though I'd be byteball all day over IOTA, since it's note zero sum, i'm hedging a little on IOTA and hoping they can really shine.

I think the same, the success of IOTA depends on its massive use.

Fair enough. Seems like an honest answer and one that make sense financially.

If it ever ends up being released...seems like its always being pushed back. Been following it for a while but been pretty quiet last few months