IOTA

[marechoux]

Why in http://bigdeal.iotatoken.com/ we are still at 40 Ti? I cannot see the 3 additional Ti

[1715109346]

1715109346

[Anon136]

Let me start by seeing if I'm guessing on the right track.

It seems to me that the ONLY way you could scale to this degree is with a segragated witness style scheme. VERY VERY roughly it seems like the idea would have to be that each node will only monitor a small fraction of the total network, and any time you are interested in a transaction that is not taking place on the part you are monitoring, you will be forced to trust the consensus of the percentage of the network that IS monitoring the transaction you are interested in.

Am I on the right track?

For full nodes it's not true. The scalability doesn't come for free, you have to pay with increased confirmation time.

Right. Because in a traditional blockchain so many transactions are clumped togather, the security that you purchase for your own transaction is also a 100% positive externality on every single other party in your block. With a the "tangle" style chain the security externality takes time to propagate out. Its a logarythmic process but even those start out slow. The advantage being, however, that you don't need to concern yourself personally with every transaction. Only the ones relevant to your transaction. The ones that reference you after the fact up until the point that you feel satisfied with the level of security and the history of those units in particular to check for doublespends.

Sorry if I missed this in the whitepaper. But you cant be scaling well if everyone is monitoring every transaction. Necessarily. That is the problem that needs to be addressed for any decentralized ledger system to scale truly well. So the problem here is that what if someone sends you iota and you dont happen to witness that transaction. Does the sender personally send you a reference to the transaction?

[mudshark79]

Let me start by seeing if I'm guessing on the right track.

It seems to me that the ONLY way you could scale to this degree is with a segragated witness style scheme. VERY VERY roughly it seems like the idea would have to be that each node will only monitor a small fraction of the total network, and any time you are interested in a transaction that is not taking place on the part you are monitoring, you will be forced to trust the consensus of the percentage of the network that IS monitoring the transaction you are interested in.

Am I on the right track?

Kind of as I see it, yes. Not sure about witness style scheme and security. Sounds like a weak point at first, but it's the strength and feature of the system. You can conduct transaction without having to know the wohle picture. Think of a little IOT-device sleeping 10 minutes, waking up for 60 seconds, checking something (sensor?), doing transaction, sleep again. Kind of an offline transaction. This could not be done with a blockchain because the device would have to be online syncing the whole time. Or it would need a thin-client server structure, like electrum wallet.  Plus you can do transaction without any cost whatsoever other than doing a little POW.

What came to my mind would be to setup some nodes in a LAN, separating them from the network via firewall, let them be on their own for 60 minutes and then reconnect them. Transactions should be valid. Not sure sure about coordinator needed at this point in time, but if  finalized, things like that should be possible.

[tyz]

Really great depiction of the IOTA nodes. Is it possible to see the particular server IPs. Would like to check if my IOTA node is displayed, too.

If the display is right that most nodes seem to come from Germany / central Europe at the moment.

Spent some time on it. Added node display and node list.
http://iotanodes.org/

so kewl!

[Anon136]

Ok guys I think I'm convinced. How do I buy in?

[trolleroo]

Ok guys I think I'm convinced. How do I buy in?

you can have a look at the offers at https://bitcointalk.org/index.php?topic=1550236
and ALWAYS USE ESCROW

[ImI]

Ok guys I think I'm convinced. How do I buy in?

So far only trade via OTC available.

https://iotatangle.slack.com/messages/trading/

https://bitcointalk.org/index.php?topic=1550236.0;topicseen

Take care in Slack, its easy to change names and scammers often try to fake escrow and dev accounts.

[yassin54]

Ok guys I think I'm convinced. How do I buy in?

if you need escrow i am here!! 

[Anon136]

Where did the tokens come from that people are selling. Was there an ICO? How much bitcoin was sent total if there was?

[achimsmile]

Where did the tokens come from that people are selling. Was there an ICO? How much bitcoin was sent total if there was?

ICO thread: https://bitcointalk.org/index.php?topic=1262688.0
It rose ~400k USD worth in BTC, and one was also able to buy in with JINN assets (from the NXT asset exchange).

[Come-from-Beyond]

Sorry if I missed this in the whitepaper. But you cant be scaling well if everyone is monitoring every transaction. Necessarily. That is the problem that needs to be addressed for any decentralized ledger system to scale truly well. So the problem here is that what if someone sends you iota and you dont happen to witness that transaction. Does the sender personally send you a reference to the transaction?

You need to see transactions related to you and to your neighbors in an economic cluster. In Iota you don't need to monitor every transaction though.

[Anon136]

Sorry if I missed this in the whitepaper. But you cant be scaling well if everyone is monitoring every transaction. Necessarily. That is the problem that needs to be addressed for any decentralized ledger system to scale truly well. So the problem here is that what if someone sends you iota and you dont happen to witness that transaction. Does the sender personally send you a reference to the transaction?

You need to see transactions related to you and to your neighbors in an economic cluster. In Iota you don't need to monitor every transaction though.

And what of transactions out side of your "economic cluster"? Or is that just shorthand for saying: Within this cluster of nodes, even though each of us is only watching a fraction of the network, we are collectively watching the entire network and will inform each other if we see anything relevant to other nodes.

[msin]

So Foundation needs to put 2 T

Nope, WE need to do it. I'll send 1 Ti. Can someone send the other one please?

edit: 1 Ti sent, C9VWMHFHUBJJHRTBVHFNBSOWNNVIZSVVE9JHLRZTLKEKELFCDTUZGJWYTAVPDTNMQHZFNPKX9FIVC99 99

I'll send the other

1 TI sent, hash WZZXUFPNVVYBUEGXNZHIMGRQUEZJVDLVZEOZYLHNQTTFRZR9NEIMGAMUYCBMDR9SUDEWSLIPWKOJB99 99

[randombit]

So Foundation needs to put 2 T

Nope, WE need to do it. I'll send 1 Ti. Can someone send the other one please?

edit: 1 Ti sent, C9VWMHFHUBJJHRTBVHFNBSOWNNVIZSVVE9JHLRZTLKEKELFCDTUZGJWYTAVPDTNMQHZFNPKX9FIVC99 99

I'll send the other

1 TI sent, hash WZZXUFPNVVYBUEGXNZHIMGRQUEZJVDLVZEOZYLHNQTTFRZR9NEIMGAMUYCBMDR9SUDEWSLIPWKOJB99 99

Thats realy a great and impressiv move msin and achimsmile !,, Thx to Luey! msin and achimsmile! you ve done it guys, my full respect to you and every single donator!!! (including me  )


Amazing IOTA community, thx to all donators, its happening,  cheers!

[josefelix]

i think all this Iota it is complete confusing people! just carefull..

[yassin54]

So Foundation needs to put 2 T

Nope, WE need to do it. I'll send 1 Ti. Can someone send the other one please?

edit: 1 Ti sent, C9VWMHFHUBJJHRTBVHFNBSOWNNVIZSVVE9JHLRZTLKEKELFCDTUZGJWYTAVPDTNMQHZFNPKX9FIVC99 99

I'll send the other

1 TI sent, hash WZZXUFPNVVYBUEGXNZHIMGRQUEZJVDLVZEOZYLHNQTTFRZR9NEIMGAMUYCBMDR9SUDEWSLIPWKOJB99 99

Thats realy a great and impressiv move msin and achimsmile !,, Thx to Luey! msin and achimsmile! you ve done it guys, my full respect to you and every single donator!!! (including me  )


Amazing IOTA community, thx to all donators, its happening,  cheers!

[randombit]

i think all this Iota it is complete confusing people! just carefull..

Be more precise pls, cant follow you.  IOTA is real and its working blockchainless, its the 1st of his kind and ready for IOT. We will see a lot of movement in this field, its a exciting time. A game changer is born!

[wizzardTim]

Waiting for the Ron Paul gif.. 

[Jabbawa]

i think all this Iota it is complete confusing people! just carefull..

I'll beat cfb to the punch... it's not designed for people, it's for machines. IOTA doesn't mind confusing a few potential crypto investors, as long as savvy business understands why it wants what IOTA does.

[randombit]

Waiting for the Ron Paul gif..  

Everything please without Lambo pics, although this would be the true for the first time.