Bitcoin Forum

I read a post in this site, but the IOTA OP doesn't bother to answer. The post is:

During the crowdsale in Nov/Dec 2015, about 0.5M USD were raised (or 3M, doesn’t make a big difference)
* Until listing on Bitfinex in June 2017, IOTA was traded OTC
* The initial market cap on June 13 was roughly 1.7B USD (https://coinmarketcap.com/currencies/iota/historical-data/?start=20130428&end=20171117)
* The week before, there were roughly 5000 addresses with a positive balance (https://medium.com/@IngoFiedler_96862/iota-an-update-on-token-distribution-and-exchange-launch-ee3e56bd0d32)

Hence, each of the addresses’ owners invested on average 340K USD. How can that be even if some of them invested let’s say 1M USD or more?
(Link: https://bitcointalk.org/index.php?topic=1262688.1660)


Also, I found this interesting comment in reddit:



IOTA was listing on CMC at #7 with over billion in market cap despite an ICO that raised only $10m. ICO price was $0.002, listing price was $0.67. This return of 250,000% is the highest for any crypto coin.
Apparently IOTA shills will tell you it was "traded on slack channel" and thus no records exist of the trades during this period - well that doesnt explain the 250,000% gain does it? It could be atleast explained if there was a product, but IOTA did not even have a product from ICO till listing. (Dec 2017 till listing on finex). Who will trade shitcoins at a 250,000% premium when the coin does not even have a product?
Ever since IOTA listed on finex, it has been going down (apart from a fake microsoft partnership pump) and today is much lower than its listing price. And it will continue to go down, as its value has been marked up fraudulently by its promoters by listing it at a huge market cap despite collecting only a tiny fraction in the ICO.



Anyone has the answer for this one? Is it a scam?

It is a serious claim what you are doing right now.. I dont think IOTA is a scam, it seems a solid project to me. As fas as i remember thay had some security issues, and there wasnt any reliable wallet for their tokens.. regarding price, with this huge supply it is very difficult to have a high price/token.. if you bought when it was at ATH (nealry 6$) you probably must be very dissapointed...

No, the crowdsale netted 500k and when it first traded on exchanges, those same coins sold for >1 billion--not sure why that's hard to follow. Anyone mentioning the Microsoft partnership is probably a troll given it's well documented that a Microsoft employee gave the IOTA Foundation the media that said "partnership" and it was his fault any discrepancy took place. Also, it's pretty amazing that trolls continue to parade that argument when partnerships with Bosch, VW, the UN, the city of Taipei and many more are well documented. As always DYOR.



List of sources for partnerships, affiliates and interested parties: http://iotaarchive.com/ (http://iotaarchive.com/)

Crowdsale factsheet: https://factsaboutiota.wordpress.com/crowdsale/

I suppose there are other examples, more credible ones, to "shitcoin" about. IOTA is a legit project supported by a number of reputable partnerships. So calling it a scam looks a bit like a far-fetched conspiracy theory to me, no offense

So, I don't see reasons why IOTA would be a scam. It is not the worst or weak coin in market. Big and perspective projects would not be scums, I think.

I'm not a fan of IOTA but I'm sure there's alot false information going on this days in the crypto market which crypto capital market was also accused of last year. However, we still cant decide IOTA a scam until the right information and evidence are find about the project.

I think in the coming year many coins will disappear that do not have a good team and were made for fraud.

Nevertheless, I believe that serious people stand behind IOTA (MIOTA)

Very interesting time we are currently living. Crypto community is getting smarter and smarter, while the market is dropping and questioning even all the big projects.
I really liked IOTA before, but currently, I doubt in its transparency. As a solution, I prefer HDAC, kind of similar idea to IOTA. Not that much-hyped yet, but they are behind Hyundai.

To argue that it is a Scam or not I do not undertake. But it seems to think that this is a good coin, but anything can happen that what seems at first a good is in fact bad.

well
i also have a same opinion like other
we cant say IOTA scam because it
if u know
ETH also called big scam coin too
also TRX just a big game of whales
how about DOGE
did u know at the beginning DOGE just like a joke coin ?
but now,its different

it looks like IOTA is not a scam but maybe this is the effect of the fall in the price of bitcoin, you should see when the price of bitcoin falls then the price of all other cryptocurrency also falls.

Is IOTA a scam? Do you think so? I do not think that they cheat, we should trust each other and we should be sincere and trust, trust will take wing for your dreams.  IOTA  not a scam

That's obviously a shit coin dude. when i was seeing your latest quote from reddit and that makes me clear of IOTA has been doing a lot of manipulation on its price.
No product and it can gain up to 250k percent return. it's not even the first DAG platform.

Well, IOTA has done quite a lot of manipulation in the past. I remember they even lied and made up partnership stories but in the end they had to apologize and take back their statements,,, but so have other coins like Ethereum EOS and even XRP,,, which is why I have never trusted either of them. Does being bad in the past and doing manipulative behavior mean they are a scam? I guess not so, but maybe it means we should not trust them.

And how many such scams besides this. The market is overflowing with them, and such a downturn is the result of a glut of fraudsters.

as we know IOTA is moving in the field of the global community to move the economy on IOta itself I think the coin that has been there for 3 years is why I have to scam !! they should have done it from the start, after all he was in the 13th rank for CMC experts would know and understand if an ICO was a scam

I cannot suspect that IOTA scam for any reason, what underlies you mentions that IOTA is a scam, you need to be patient. everything cannot be done in an easy way all of which requires a process.

no it is not.
they have good partnerships and good tech and good team behinf project.

i have iota and i wont sell them until it reached 10 dollar.

they will be in top 5 in 3 years

IOTA isn't s scam 100%, but people sometimes want to believe in miracles) And their hopes are not IOTA problems. Price of IOTA sometimes goes to some unbelievable levels and this is just because of speculations of traders.

This is one of the most logical and well-informed response. IOTA is not a scam based on what I've bothered to look up so far - more or less a victim of speculations and a few powerful holders shaking up the market ahead of projected development.

maybe price just not doing as well as you think it should
https://www.coingecko.com/en/coins/iota
but not a scam, there are real people working on it and trying to deliver

I don't see how it can be called a scam. It's a working project with some big names as their partnerships. The good coin doesn't mean it should be a couple of K price coin.

IOTA (IOT) was said to be the first open-source distributed ledger built to power the future of the Internet of Things with feeless microtransactions and data integrity for machines. IOTA uses what is called a Tangle which solves the scalability and transaction fees and transaction fee issues faced by digital currencies such as bitcoin by requiring the person who sends funds to conduct a verification at the same time he or she sends the funds. It completely decentralizes the entire ledger used to record IOTA transactions will create a zero-fee transaction system with that being said,  no  more fees need to be paid to the participants in the network to verify transactions.

With this, it alleviates many of the scaling issues that blockchain-based digital currencies face and will allows the use of its digital currency on a much larger scale. Consequently, it could be used for IoT networks, which is the project’s aim.

it is not scam.
i trust iota more thn xrp or ltc or etc.
their projects and teammates are more reassuring than others.
and yesterday they explain their plans with nova

LOL  is this a joke?IOTA is a good and solid projct with reliable team behind so this is a wrong claim,and why are you spreading this?have you been invested or part of this issue?if not then stop this nonsense

Yeah thats it,its not because the value is fluctuating meaning this is a scam i have invested in IOTA and trusting this till it reach to moon

You must be able to teach this information, still many people who try to make FUD with an eye cryptocurrency be stamped as scam investment place.

Moreover, who made such information is a newbie we cannot believe it easily.

i dont think so. a scam project wouldnt be able to survive that long after the launch. and internet of things is a really good choice for a blockchain based project. i think it will keep growing soon.

high chance that he might bought at all time high period. really disappointing on my part if I did buy at that point. but you can't call a project a scam because of that. Almost all projects have experienced the decline of price especially last year. if the price decline is his basis, then almost all projects are to be considered scam now.

I think IOTA is in the process of developing so that it still has the potential, we will see that IOTA has a good improvement and this is still moving. Be patient to get the benefits you expect, all who invest when the crypto is peaked and now have a low value, then say a scam, this is already a lot of people done and they are disappointed. But this condition is indeed moving and always spinning, so patience must be done to be able to return capital.

I think first IOTA was a pretty good coin at crowdsale, and seeing volume on the market also looks good. it might be hard to believe if the project IOTA scam

I don't think IOTA is a fraud project, I have a lot of faith in IOTA project, I hold a large amount of IOTA. The information you give is unfounded, the fact that many people believe that IOTA scam is the same as many people have said before that bitcoin is a scam, then time will prove it all. Now the world has seen bitcoin as a legitimate means of payment in many parts of the world