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Author Topic: IOTA  (Read 1361392 times)
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NattyLiteCoin
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January 03, 2018, 02:56:10 PM
 #13461

I’ve read it can support a lot. As of today 180 transactions per second have been tested. This DAG algorithm is amazing and it has huge potential.
On the other hand I am concerned with the happened actions as a result of October attack on some wallets. The dev team took over the funds of the IOTA users. I understand that was done to protect the users and the funds are being returned to the customers as we speak. But the main concern is that is it practically possible to take funds away from any IOTA user. Theoretically bad people can simply get your money. Single developer can become bad person or somebody will extort information from developer on how to do this, those are not matter in the context. What matters is there is an ability to steal money from IOTA wallets. I think this one item will be limiting factor for IOTA growth to its potential. I think IOTA devs need to let go of this notion and make changes to the algorithm so nobody can take away funds from other users using high access permissions. Only then we will see how IOTA will take over Bitcoin’s fame.  

I agree with you, in the industry where safety is put on the first place, to have such a problem with a purse, there is already a huge minus. (
Probably not all people know about this, because the interest in IOTA is still great.


If you can’t trust the developers to uphold the fundamentals of crypto, specifically immutability and security, then you shouldn’t invest a single cent into the project. Once that trust is broken, it’s Likely never to return. With that said, it seems like a few people feel burned, but conversely 1000’s of other investors have absolute trust in the team’s principles. You can draw your own conclusions, but please ask yourself why iota has a $10Bil market in less than 2 Years and attracted top-tier talent in the field. To scam you? From what I have gathered,  It’s not about money with people like Dave and CfB, it’s about ego and reputation not nickel and diming people $1000 at a time.

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January 03, 2018, 04:14:01 PM
 #13462

I bought my IOTA coins and want to transfer them to my wallet but after i read comments about errors and that they can gone and not reach my wallet. I think maybe better to hold them at exchange?

The wallet works well for me. But if you are not comfortable with using the wallet you are better to leave them at the exchange.  An exchange is like a web wallet.

The single most important first step to send transaction is to check if the server you get connected is synced. The servers are not always synced. To check the synced status, you can compare the two milestone numbers (in the nodeinfo under Tools) in your wallet to the most recent milestone number in the #botbox of the Slack. If all the three numbers are same, your wallet or your server is synced. If they are not same you need either wait for them to be same or change a server.

After you have done the above first step correctly, you can make the transaction. I would say 80% of times your transactions will get confirmed in 30 minutes.

If your trasanction does not get confirmed in 30 minutes, you can do the Promoting (previously called Reattaching). You will see it if clicking the bundle next to the transaction in the History in your wallet. You can do the Promoting once every 30 minutes. But make sure you do the first step to make sure your wallet is synced first every time.

If you do the above steps correctly 99% of your transaction should get confirmed within one Promoting and most will be confirmed without Promoting.

Also don’t send a second transaction before your first transaction gets confirmed. If you do so, one of the transactions will never get confirmed no matter how many promotings or reattachings you do.
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January 03, 2018, 04:17:55 PM
 #13463

I’ve read it can support a lot. As of today 180 transactions per second have been tested. This DAG algorithm is amazing and it has huge potential.
On the other hand I am concerned with the happened actions as a result of October attack on some wallets. The dev team took over the funds of the IOTA users. I understand that was done to protect the users and the funds are being returned to the customers as we speak. But the main concern is that is it practically possible to take funds away from any IOTA user. Theoretically bad people can simply get your money. Single developer can become bad person or somebody will extort information from developer on how to do this, those are not matter in the context. What matters is there is an ability to steal money from IOTA wallets. I think this one item will be limiting factor for IOTA growth to its potential. I think IOTA devs need to let go of this notion and make changes to the algorithm so nobody can take away funds from other users using high access permissions. Only then we will see how IOTA will take over Bitcoin’s fame.  

I agree with you, in the industry where safety is put on the first place, to have such a problem with a purse, there is already a huge minus. (
Probably not all people know about this, because the interest in IOTA is still great.


If you can’t trust the developers to uphold the fundamentals of crypto, specifically immutability and security, then you shouldn’t invest a single cent into the project. Once that trust is broken, it’s Likely never to return. With that said, it seems like a few people feel burned, but conversely 1000’s of other investors have absolute trust in the team’s principles. You can draw your own conclusions, but please ask yourself why iota has a $10Bil market in less than 2 Years and attracted top-tier talent in the field. To scam you? From what I have gathered,  It’s not about money with people like Dave and CfB, it’s about ego and reputation not nickel and diming people $1000 at a time.
I politely disagree with the statement “If you can’t trust the developers to uphold the fundamentals of crypto, specifically immutability and security, then you shouldn’t invest a single cent into the project.”.
Trust has nothing to do with ability of getting profit from this coin. The incident affects bottom line of the IOTA price for sure. But this doesn’t mean that a can’t get couple of dollars extra on untrusted currency. Sure, it becomes more risky investment. But it can be still leveraged as investment. I also think it is possible to repair trust by chaning the ways this cryptocoin works over the course of many years. This is a matter of support of this project by talanted developers and their wiliness for improving.
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January 03, 2018, 04:21:40 PM
 #13464

The major difference IOTA is offering is the complete lack of transaction fees with systems in place to combat spam attacks.
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January 03, 2018, 04:23:09 PM
 #13465

The major difference IOTA is offering is the complete lack of transaction fees with systems in place to combat spam attacks.
The goal of IOTA is to create an efficient data exchange network between these products. IOTA has procured large contracts with major companies instead of the mass distribution techniques Byteball went about.
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January 03, 2018, 04:26:20 PM
 #13466

I politely disagree with the statement “If you can’t trust the developers to uphold the fundamentals of crypto, specifically immutability and security, then you shouldn’t invest a single cent into the project.”.
Trust has nothing to do with ability of getting profit from this coin. The incident affects bottom line of the IOTA price for sure. But this doesn’t mean that a can’t get couple of dollars extra on untrusted currency. Sure, it becomes more risky investment. But it can be still leveraged as investment. I also think it is possible to repair trust by chaning the ways this cryptocoin works over the course of many years. This is a matter of support of this project by talanted developers and their wiliness for improving.

that is cold man. True, but cold. Reading your post actually inspired me and I bought today a coin that I know will ultimately fail. But chances are likes you say, I will get to make a ton of money before it does. The only problem is what happens if somebody blows the whistle before you get out :|
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January 03, 2018, 04:29:22 PM
 #13467

Is there bounty campaigne?
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January 03, 2018, 04:33:18 PM
 #13468

I understand your perspective Sergio.

I’m submitting that the scope of what iota is trying to achieve is much more than a profit venture. Frankly, to begin implementing its premise alone is a gigantic undertaking. While we as investors are very much concerned with profits, my belief is that this team really believes that they can pull this off. Perhaps they are not able to deploy iota and it fails for one of a thousand reasons, I’m here because I think they really want to. The majority of the negative reactions and technical setbacks experienced are typical for novel technologies and should be included in the initial risk assessment for all of ones investments.

Iota is a high risk investment. It’s potential rewards are unbounded.




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  TWITTER          TELEGRAM          REDDIT          DISCORD          MEDIUM          LINKEDIN  
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January 03, 2018, 05:14:59 PM
 #13469

The ripple’s marketcap is almost half of the bitcoin’s marketcap. It made me to think that not only #2 spot is shakable but also the #1 spot.
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January 03, 2018, 05:25:37 PM
 #13470

The ripple’s marketcap is almost half of the bitcoin’s marketcap. It made me to think that not only #2 spot is shakable but also the #1 spot.
Number 1 place is shakeable. But it will take a decade to get there with right development strategy.
Also the single fact that institutional investors (american funds) not long ago started trading with the Bitcoint points out that the marketcap will double, triple and quadriple in the course of 1 year or so. IOTA needs to get on the good side of FCC by implementing better security in near future.
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January 03, 2018, 05:37:48 PM
 #13471

The ripple’s marketcap is almost half of the bitcoin’s marketcap. It made me to think that not only #2 spot is shakable but also the #1 spot.
Number 1 place is shakeable. But it will take a decade to get there with right development strategy.
Also the single fact that institutional investors (american funds) not long ago started trading with the Bitcoint points out that the marketcap will double, triple and quadriple in the course of 1 year or so. IOTA needs to get on the good side of FCC by implementing better security in near future.

Ripple is just being artificially pumped up now - news, media, internet, the hype is amazing.
Something similar happened with IOTA drastic rise if you remember a month or so ago. Bitcoin however is very difficult to be overtaken IMO

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January 03, 2018, 07:38:02 PM
Last edit: January 03, 2018, 07:48:57 PM by Jacky_Chan
 #13472

The ripple’s marketcap is almost half of the bitcoin’s marketcap. It made me to think that not only #2 spot is shakable but also the #1 spot.
Number 1 place is shakeable. But it will take a decade to get there with right development strategy.
Also the single fact that institutional investors (american funds) not long ago started trading with the Bitcoint points out that the marketcap will double, triple and quadriple in the course of 1 year or so. IOTA needs to get on the good side of FCC by implementing better security in near future.

I didn’t mean IOTA. I meant any coins have the chance to take over the #1 spot based on today’s trend as long as they do it right. I don’t think it will take a decade. Again, based on today’s trend it could happen in a couple of years.
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January 03, 2018, 07:45:30 PM
 #13473

The ripple’s marketcap is almost half of the bitcoin’s marketcap. It made me to think that not only #2 spot is shakable but also the #1 spot.
Number 1 place is shakeable. But it will take a decade to get there with right development strategy.
Also the single fact that institutional investors (american funds) not long ago started trading with the Bitcoint points out that the marketcap will double, triple and quadriple in the course of 1 year or so. IOTA needs to get on the good side of FCC by implementing better security in near future.

Ripple is just being artificially pumped up now - news, media, internet, the hype is amazing.
Something similar happened with IOTA drastic rise if you remember a month or so ago. Bitcoin however is very difficult to be overtaken IMO

You think IOTA is pumped right now as well?

Talking about pump and performance, IOTA is not even in the top10 in 2017 - https://qz.com/1169000/ripple-was-the-best-performing-cryptocurrency-of-2017-beating-bitcoin/
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January 03, 2018, 07:49:31 PM
 #13474

50% of reclaims have been processed so far. Not long now until all claims have been processed. Hopefully before the 10th January.
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January 03, 2018, 07:50:59 PM
 #13475

The ripple’s marketcap is almost half of the bitcoin’s marketcap. It made me to think that not only #2 spot is shakable but also the #1 spot.
Number 1 place is shakeable. But it will take a decade to get there with right development strategy.
Also the single fact that institutional investors (american funds) not long ago started trading with the Bitcoint points out that the marketcap will double, triple and quadriple in the course of 1 year or so. IOTA needs to get on the good side of FCC by implementing better security in near future.

I didn’t mean only IOTA has the chance to take over bitcoin’s #1 spot. I meant any coins have the chance based on today’s trend as long as they do it right. I don’t think it will take a decade. Again, based on today’s trend it could happen in a couple of years.
Here is a single drawback inherited by almost any cryptocurrency from original Bitcoin algorithm (related to the term blockchain): as transaction volume grows the calculation complexity increases as well. The more popular coin becomes the less number of transactions per second is possible. Bitcoin grew so much that only 8 transactions per second available for anywhere in whole world. Think about it - this cryptocurrency is useless now for use as an actual currency in online stores for wide use. The delays are ridiculious if you would like to send bitcoin anywhere. This situation will even become worse overtime.
IOTA is different from this prospective, the number of transactions per second is unlimited. As long as other factors are covered (such as security holes, trust by users to dev team, bug fixes with the second transaction erasing first unconfirmed transaction, etc) this coin has a bright future. But there is also possibility that developers won’t improve it and some other better coin with frequent transaction scalability comes out and IOTA will loose momentum as the result.
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January 03, 2018, 08:06:58 PM
 #13476

50% of reclaims have been processed so far. Not long now until all claims have been processed. Hopefully before the 10th January.
where can we see this?
thx Smiley
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January 03, 2018, 08:16:40 PM
 #13477

50% of reclaims have been processed so far. Not long now until all claims have been processed. Hopefully before the 10th January.
where can we see this?
thx Smiley

Dom said in Slack today. Cant attach image but the time was 7.22pm today, under general slack channel
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January 03, 2018, 08:45:14 PM
 #13478

50% of reclaims have been processed so far. Not long now until all claims have been processed. Hopefully before the 10th January.
where can we see this?
thx Smiley

I suggest to follow the following site in order to get a sense what the status is.
https://forum.helloiota.com/1242/Reclaim-Status

Last update today

3rd January status:

- No reclaims have been sent out today.

So far, a total of 520 reclaims have been processed, with a combined value of 26.718 Gi.
Last transaction was yesterday, with value of 198.9 Mi.

List of reclaims that were sent yesterday: https://pastebin.com/a2fuNfHL
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January 03, 2018, 08:48:21 PM
 #13479

The head of Internet of Things @Amazon AWS just tweeted about IOTA...

https://twitter.com/jojobickley/status/948609600839806978

#IOTA is the first distributed ledger technology (DLT) to go beyond a #blockchain — it enables machines to securely transact data and money with each other for a micro fee. Imagine a car that, from sensor data, retrieves information about a malfunctioning car part. #connectedcars



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January 03, 2018, 08:57:04 PM
 #13480

The ripple’s marketcap is almost half of the bitcoin’s marketcap. It made me to think that not only #2 spot is shakable but also the #1 spot.
Number 1 place is shakeable. But it will take a decade to get there with right development strategy.
Also the single fact that institutional investors (american funds) not long ago started trading with the Bitcoint points out that the marketcap will double, triple and quadriple in the course of 1 year or so. IOTA needs to get on the good side of FCC by implementing better security in near future.

I didn’t mean only IOTA has the chance to take over bitcoin’s #1 spot. I meant any coins have the chance based on today’s trend as long as they do it right. I don’t think it will take a decade. Again, based on today’s trend it could happen in a couple of years.
Here is a single drawback inherited by almost any cryptocurrency from original Bitcoin algorithm (related to the term blockchain): as transaction volume grows the calculation complexity increases as well. The more popular coin becomes the less number of transactions per second is possible. Bitcoin grew so much that only 8 transactions per second available for anywhere in whole world. Think about it - this cryptocurrency is useless now for use as an actual currency in online stores for wide use. The delays are ridiculious if you would like to send bitcoin anywhere. This situation will even become worse overtime.
IOTA is different from this prospective, the number of transactions per second is unlimited. As long as other factors are covered (such as security holes, trust by users to dev team, bug fixes with the second transaction erasing first unconfirmed transaction, etc) this coin has a bright future. But there is also possibility that developers won’t improve it and some other better coin with frequent transaction scalability comes out and IOTA will loose momentum as the result.

not all blockchains have that weakness, only those forked from BTC. Take a look at the sky coin whitepaper. In theory it should be able to scale. Not tested though.
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