IOTA

[wizzardTim]

Many answers can be found here: http://iotasupport.com/ and here http://www.tangleblog.com/what-is-iota-what-is-the-tangle/

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[50cent_rapper]

hello all.

I'm trying to get my head around Iota. It looks interesting. Can anyone help me witha couple of questions.

1.What is the current approximate marketcap of IOTA?  (doesn't need to be exact)

2.How many IOTA are part of a premine, or locked up for development etc..?

Thanks in advance. 

1. 24 million.
2. zero - premine is bad  . Community donated 5% of all iotas to Foundation. 

[metamorphin]

Ok...CFB kindly adviced me to post these three legitimate points here from an user of a different thread.

"What are the major flaws of IOTA?

1. Does not work on IoT devices. Proof-of-Work is CPU and battery expensive on such micro-controllers, but due to their low-power and constrained CPUs, the Proof-of-Work that IoT devices can do is orders of magnitude less than what a normal CPU can do, which makes the PoW even less worth. Due to this problem, the second one follows 

2. Has no Sybil prevention. IOTA mechanism of joining the network requires talking to humans to exchange IPs on their Slack-channel. The consensus algorithm is flawed.

3. Has infantile community leaders such as Come-from-Beyond, hostile, threatening and entitled "holier-than-you" attitude to newcomers. Also the Iota leaders have previously been involved in failed altcoin NXT."


I think, point 3 is stupid and doesnt need an answer... but point 1 and 2 would be fine...

Greetz
Steve

[trolleroo]

1. Explain this to: Samsung whith their IOTA wallet on your smart tv, or to BMW's IOTA wallet on their new models: in the near future;

2. With IOTA infantile method, node admins are quite satisfied with the ability to choose who may connect to their node, disallowing leeches . Not a secret that the consensus algorithm is revolutionary;

3. Has infantile community leaders that are not following the btctalk standard of launch-pump-dump speculation ... this can be frustrating to the kidz on their mom's basement: average user in this forum


personal opinion: those are not at all legitimate points. they are laughable, instead

[Come-from-Beyond]

Ok...CFB kindly adviced me to post these three legitimate points here from an user of a different thread.

"What are the major flaws of IOTA?

1. Does not work on IoT devices. Proof-of-Work is CPU and battery expensive on such micro-controllers, but due to their low-power and constrained CPUs, the Proof-of-Work that IoT devices can do is orders of magnitude less than what a normal CPU can do, which makes the PoW even less worth. Due to this problem, the second one follows 

2. Has no Sybil prevention. IOTA mechanism of joining the network requires talking to humans to exchange IPs on their Slack-channel. The consensus algorithm is flawed.

3. Has infantile community leaders such as Come-from-Beyond, hostile, threatening and entitled "holier-than-you" attitude to newcomers. Also the Iota leaders have previously been involved in failed altcoin NXT."


I think, point 3 is stupid and doesnt need an answer... but point 1 and 2 would be fine...

Greetz
Steve

1. PoW of Bitcoin is indeed very expensive, PoW required to issue a transaction in IOTA needs 10'000'000'000'000-fold fewer invocations of the hashing function. "The Proof-of-Work that IoT devices can do is orders of magnitude less than what a normal CPU can do" needs further explanation because IoT devices I've seen worked at 20% of my home PC speed, it's not "orders of magnitude".

2. PoW is anti-Sybil measure. Talking to humans is required to avoid DoS attacks while the network is small, in the future it won't be needed. What flaw do you mean?

3. ESMA (European Securities and Markets Authority) dedicated 1/3 of their report to Nxt, it doesn't look as a failure to me.

[achimsmile]

Regarding point 1:

There are two possibilities in getting IoT devices to make transactions in IOTA:
Either the device only signs the transaction locally which doesn't use much power. Then forwards it to a more powerful node that does the PoW for it. That's secure because the seed always stays on the IoT device.
Or you use a small ASIC inside the IoT device that can perform the ccurl algorithm in a very efficient manner. The IOTA team tries to do that via developping brand new trinary based hardware called Jinn.

So this point is false in several aspects: It does work on IoT devices and the PoW that IoT devices can do will actually be faster than regular CPUs due to ASICS.

[lurker10]

How long to wait on average before replaying?

[gernat]

How long to wait on average before replaying?

9 milestones, about 1 hour

[altcoinrich]

hello all.

I'm trying to get my head around Iota. It looks interesting. Can anyone help me witha couple of questions.

1.What is the current approximate marketcap of IOTA?  (doesn't need to be exact)

2.How many IOTA are part of a premine, or locked up for development etc..?

Thanks in advance. 

1. 24 million.
2. zero - premine is bad  . Community donated 5% of all iotas to Foundation. 

How to get the marketcap of IOTA? I can't find it on coinmarketcap.com, so I wonder how do you calculate that? Thanks.

[lurker10]

How long to wait on average before replaying?

9 milestones, about 1 hour

Thank you.
CfB->This information should one of the first Q/A in FAQ on the first page.
It's really frustrating not to know what's going on. There are a few simple questions and answers that can remove a lot of pressure from devs, management, experienced users that need to be in the FAQ on the first page.

[Come-from-Beyond]

@SteveoMB, I had to delete your post because you quoted a banned person, be more careful next time, please.

[SteveoMB]

@SteveoMB, I had to delete your post because you quoted a banned person, be more careful next time, please.

it's fine, he read it.

[50cent_rapper]

hello all.

I'm trying to get my head around Iota. It looks interesting. Can anyone help me witha couple of questions.

1.What is the current approximate marketcap of IOTA?  (doesn't need to be exact)

2.How many IOTA are part of a premine, or locked up for development etc..?

Thanks in advance. 

1. 24 million.
2. zero - premine is bad  . Community donated 5% of all iotas to Foundation. 

How to get the marketcap of IOTA? I can't find it on coinmarketcap.com, so I wonder how do you calculate that? Thanks.

Take the price of 1 Ti and multiply by 2779.

[Arastuntas]

Could somebody sent me an invitation to Slack forum.

[yassin54]

Could somebody sent me an invitation to Slack forum.

http://slack.iotatoken.com/

[gernat]

How long to wait on average before replaying?

9 milestones, about 1 hour

Thank you.
CfB->This information should one of the first Q/A in FAQ on the first page.
It's really frustrating not to know what's going on. There are a few simple questions and answers that can remove a lot of pressure from devs, management, experienced users that need to be in the FAQ on the first page.

lurker10, it can be that some regulations change from time to time, IOTA develops very quickly. Therefore, some things are not yet in FAQ. I would recommend you to ask in slack. Most are very helpful, we help wherever we can.

[greentea]

New Foundation member added: Energy Pioneer David Cohen
https://medium.com/iotatangle/welcome-david-a-cohen-to-the-iota-foundation-1d0c694e52bc#.qamtc49xn

[CryptoSporidium]

New Foundation member added: Energy Pioneer David Cohen
https://medium.com/iotatangle/welcome-david-a-cohen-to-the-iota-foundation-1d0c694e52bc#.qamtc49xn

Very impressive resume, welcome David, great news for Iota!

[lurker10]

Am I right deducing from iota.cool that the bulk of txs are not confirming at this time?
How long will it take before the fix is applied and txs can be sent again?

[gernat]

Am I right deducing from iota.cool that the bulk of txs are not confirming at this time?
How long will it take before the fix is applied and txs can be sent again?

The fix is almost finished, our devs make last tests, maybe available either today or tomorrow.
Just look in the slack.