Bitcoin Forum

Hey Guys,

I've been really excited about the potential of IOTA, but a friend of mine says it's really buggy at the moment.  Is that true?  Does it still have potential or should I stay way.

Yes, it is true. Their wallet seems to have a lot of problems. But as this tech is still in the concept stage of "machine to machine" learning. So better not to invest more than 5% of your portfolio in it. And remember consider this as long-term investment. Also they're going to release the new wallet soon.

IOTA isn't designed to be a currency per say. Their team suck at designing a user-friendly wallet, because they are mainly engineers and mathematicians who are focusing on the IoT aspect of the technology.
But on the front of adoption in real-world IoT use-cases, IOTA is actually making very impressive progress!


If you want a coin that has zero fees and fast transaction that is designed to function as a currency coin only (and nothing more), then go for Nano; which its aim is to compete with BTC but cannot be used as a IoT bridge like IOTA is designed for.

it has a potential. but ,t was manipulated so much. some groups used it for pump and dump a few months ago. it was shilled so much and everybody started to buy then dumped. i still believe that holders are going to make good money in mid term.

The malicious seed generator didn't exactly help out their image either.

I consider IOTA is a promising coin. If your portfolio still does not have it, I advise you to take a closer look at this coin. Especially now when the market is in a dump.

That's a buggy coin. And I was staying away from there and try to use another alternative just like byteball because that has the same system that applies DAG system. All of the buggy news about IOTA is true. It doesn't have any potential. There are some better coins. Does it make sense if you will be investing in a buggy one while you can get another non-buggy coin?

It is a rookie mistake, not a mistake from Iota. Someone says to you, here is your own seed, and you believe them? Hmm, bad idea.

I would not say they focus on IoT aspect only. IOTA is one from the few (if not the only one) which wants to deliver a sustainable blockchain long-term. It is the math aspect which makes it different. Other coins and tokens just utilize what already is on the market and sooner or later, BTC and ETH will struggle from the size of the blockchain. IOTA purposedly "forgets" the old transactions in order to make the blockchain size bearable for the nodes.

IOTA is unique - it has problems but it is due to the complexity of the system. When coordinators will be gone, the speed and use cases for IOTA will be endless. Look at Oyster Protocol - they use IOTA tangle as file storage and monetize users' webpages without ads at the same time.

User friendliness does not have much to do with bugginess. You could have a super unfriendly wallet and as long as there are no or very few bugs, we can be OK. Look at byteball, similar DAG technology but they have been having a superb, hi tech wallet for ages,,, that is incredibly simple to use (if someone like me can use it, it is easy). Or look at Waves and see how the Lite wallet version is also so beautiful and easy.

I do not buy engineers and mathematicians cannot make bug-free wallets.

iota has a lot of issues reported but still priced https://www.coingecko.com/en/price_charts/iota/usd

Good point!  It doesn't seem to be conceptualized as a heavily end-user oriented tech but more of a b2b, thing to thing tech (Has anyone coined that yet?  t2t.) . :D  That may indeed be the reason for the poor user experience.

Thanks for the feedback, guys.  This is great!

the future of blockchain and innovation of blockchain will be vastly spread through IOTA and Iota partnership with giant multinational itself says Iota future is bright in coming years

Problem is, that a huge number of coins - 2.78 quadrillion, limits the growth potential of each IOTA coin. Obviously that, the more tokens we have, the less will be the value of each. One of the advantages of bitcoin is a limit the total number of coins to 21 million. IOTA tokens are approximately 132.4 million times larger than bitcoins.

But:
Since the start of the project in 2015, some major venture investors support IOTA project. Funds as "Outlier Ventures" and "Robert Bosch Venture Capital".
"Outlier Ventures" invested in IOTA an amount equal to 7 project cost estimates. Robert Bosch Venture Capital acquired a significant number of IOTA tokens in December 2017.
At the end of 2017, the partnership between IOTA and 20 large companies was agreed upon, including Deutsche Telecom and Fujitsu. And in February 2018, the German company Bosch announced that it will use IOTA technology to create an unmanned car.

Summarizing: The project has a large number of problems, but all of them could be solved. Interest from side of large players can give us suggestion that the coin has a good potential.

We can not deny that IOTA has its qualities and great investors who dream of the end of the project and an action in the final post-release, but only much of the content of the proposal is on paper and the team works day and night for overall accomplishments. That being so at present we may be distrustful of IOTA and particularly not great arguments to influence investments. In short, what we have left is to wait and i believe that over time negative thoughts about it may disappear.
 

I dont see anything but good marketing in iota project development. Devs are a bit edgy too.
They have knowledge but it just appears they care more about the image

iota will be just another forgotten footnote in a few years.

at best it's a proof of concept and the more knowledgeable and professional will come up with something else that does the job a whole lot better and in a vastly more secure manner.

it's been great for lining the pockets of the developers. it won't be used for anything else.

Honestly the entire space is buggy. We are still at infancy level.

It seems to me that this is an ordinary coin, made according to the standard, which is currently very much, and each of them in particular falls, well, this cryptocurrency will not be able to achieve much.

I see a lot of "I heard from a friend" and "it seems that" arguments in this thread.
Have any of you really studied the tech and potential of IOTA?

IOTA is only project I know of that offers a permissionless feeless (in theory unlimited scalable) platform for IoT.
It is currently in beta, and yes with a coordinator! But this is needed to start up the thing. Step by step things are getting better.

But hey, maybe Bosch, Fuijitsu, VW, DXC, Porsche are totally wrong about their choice to support IOTA foundation.
Looking forward to June 3rd when more about Qubic will be revealed, which is going to offer smart contracts, oracles and outsourced computing.
Ethereum, here we come!

A bottle of whiskey for this gentleman. Totally agree with you. It is foolish to think that such large companies will invest money and time in a dubious project. Let these people not believe. In the end, thanks to someone else, Iota owners must earn money.

Not to discount the fact that IOTA indeed has great potential, but the problem is development has been really slow and it already has been overtaken by competitors like IOST or IOS (internet of services). The thing is, the IOTA website rebrand is just front end, nothing has really still happened with the project.

I believe that IOTA has really the greatest potential. I have been holding many of these coins in my wallet as I believe that the alt will rise a lot. Many people are interested in buying goods for IOTA on the internet.

Iota has good project but in the real world it doesn't work.
I lose 1127 iota, at current price 0.26BTC by hacker that exploited the tangle.
Wasn't my fault, i didn't expose my seed, i just stored my coins at tangle and someone stole it.

Tangle is totally unsecure, don't trust it.

You're full of shit. The network has never been hacked. The security on a seed is higher than Bitcoin, so unless you reused an address or created a seed with low entropy, your IOTA are fine. My guess is you didn't reattach your address after a snapshot and didn't bother to troubleshoot.

What's your address?

It has potential to remain buggy and as a result I would advise you to stay away. But one thing we can take away from this IOTA disaster of a blockchain is that any blockchain can ascend to the top 10 without even being complete. Don't know if that is a pro or con for you, but I am fond of the speculation right now.

Although IOTA has high rank on CMC and there are a lot of investors or traders said that IOTA has very good potential in the future but as I know IOTA was created long time ago but seem like pricec of this cryptocurrency can reach to higher ATH price. Seem like there are no more potential in the future for this cryptocurrency anymore :). Stay away from it is a good idea cause there are a lot of other better cryptocurrencies that you can choose to invest :)

IOTA indeed has some problems with code. I remember there was time when people were complaining that their balance in official wallets is showing 'zero' when there's supposed to be something there. Another time there was a pretty big hack of the official wallet, so many people lost their money. This crypto has problems, but it also has a potentially amazing revolutionizing tech and truly great use cases. Internet of things is out here already and will be in our reality even more as our technologies become more sophisticated.

I didn't said that network has hacked, but exploited.
My seed was ok, but some problem with reattach, i did dozen times and didn't work, some one did that wasnt't me and stole my funds from 1 address not from entire balance from seed:
https://forum.helloiota.com/Topic1814.aspx

From the linked thread, and what you were told by those trying to help you, you reused an address and revealed part of your address to the world--that's not an exploit, that's someone using brute force after you revealed part of your seed. The same thing that keeps IOTA quantum resistant is why you don't reuse adddresses, sorry you had to learn that the hard way, but it's not a network insecurity--and that's the way you were trying to frame it. If you don't understand the technology, you shouldn't be using it--it's not a BTC clone and you can't assume it works the same. Luckily the newer wallets won't allow you to make this mistake, but the early wallet was released as barebones and was explained as such to the community who demanded after the devs weren't going to release one at all. TBH, I wish they had only released a CLI, as Monero did early on, so noobs wouldn't even be able to use it and create this type of negative feedback based on their false assumptions about BETA technology.

I love IOTA since then and I also see this issue  on their news . Apparently I can see this crypto will have a potential because of its popularity .

I didnt reuse the address. My balance gone to 0 because of tangle shit and i just tried to retrieve by reattach it, but didn't work, in this time i got hacked. Reattach in the iota is very bugged and doesn't work as should be.
Anyway, so, lets spread to the 99% of people to avoid IOTA, because 99% dont have dev skills and i'm sure that dont understand how the technology works, about reattach, keyreuse, bruteforce, retrieve from snapshot or how to avoid a reveal of half of seed, etc.

Crypto was suppose to be user friendly. The truth is that blockchain is 100% secure until now and even basic users can use it safely and tangle is a unsecure bugged technology that is only for experts.
The idea of the project, about Internet of Things is very good, is really amazing. 1st time that i read about, i really thought that if someday some coin could defeat bitcoin, it could be IOTA, but in the real world it never gonna happen because tangle is shit.
So people, if you aren't a programmer/dev/expert, don't use buggIOTA.

agree. IOTA is the big gainer. and the one I will keep long term as it’s much potential and already working with many huge companies.

Not touching this coin, massively overvalued imo

As far as IoT projects go, cpchain looks like a better bet considering the current market cap

Yes it seems like that this bug is true, but anyways. I think that IOTA has a very great potential to grow up in the next couple of weeks. It already pumped a lot since the last dump and this is a good sign for me.

IOTA has a huge potential, so don't listen to those who say the opposite. Look how many large partnerships IOTA has concluded and you will immediately understand that it has just started to develop.

IOTA coins have huge potential! Cool idea and if it all comes true, then the price of this coin will only grow! I myself am a holder and do not intend to sell

well iota has still very strong potential for the future. but on the other hand so many new projects are coming about internet of things nowadays so they want to take a share from the pie as well such as hdac.

for me IOTA still have a lot of potential,,
if you want to invest in IOTA, its better if you doing your own research first
do not invest because a suggestions from your friend
regards

I think IOTA can be pretty huge this year or the next. It's definitely been on my spotlight for a few months now. It's a really solid project and there's quite a few people predicting good things for it in the next couple of years. If you're going to get in on it, now is definitely a good time.