Is IOTA a scam?

[consideritdone]

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

[Crypto_Samuel]

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.

[EscrowService28]

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?

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.

[aragom]

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 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

[Johnzky]

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

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

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

[EdenHazard]

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

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

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.

[Stavri]

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.

[CaVO32]

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...

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.

[Mishael]

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.

[watergold]

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

[Erickan]

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