IOTA

[Come-from-Beyond]

Genuine question guys, IOTA is being marketed as currency of Internet-of-Things. but as I understand it, it needs heavy processing to send transactions on the sender device. in IOTA FAQ it states expect 5-25 mins on a modern PC ! while most Internet-of-Things devices are very very weak compared to modern PCs. It seems to me, there is a problem here. What do u think ?

Yes, and this problem is in FAQ.

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[Prova123]

However, these users need to know that the value they invest in IOTA at this point is entirely placed with the goodwill of the Foundation.

Why?

There is also the risk of the Coordinator double-spending through a partitioning attack by issuing different milestones to different users. As the risk stands, no IOTA transaction can currently be assumed safe until a longer time has passed (~20 minutes). Currently, transactions show up as confirmed in full nodes after a matter of seconds when they are in fact not safe at all.

I will make the prediction that IOTA will fail to disable the Coordinator in 2018. Even if it is made optional at some point, it won’t be safe — meaning it won’t really be optional at all (in fact, it will be just like Ripple’s provided UNL is “optional”).


by Eric Wall
Research Engineer in the cryptocurrency domain. I will give you the facts.

[Come-from-Beyond]

There is also the risk of the Coordinator double-spending through a partitioning attack by issuing different milestones to different users. As the risk stands, no IOTA transaction can currently be assumed safe until a longer time has passed (~20 minutes). Currently, transactions show up as confirmed in full nodes after a matter of seconds when they are in fact not safe at all.

If you have started lying then I think I can post our private conversation without asking your permission:

Code:

Eric Wall [3:30 PM] 
Between full nodes it says confirmed after 2 secs, but you’re saying the confirmations aren’t reliable until 20 mins?

Come-from-Beyond [3:30 PM] 
I don’t say that
Let’s try again

I have no idea why you have dug such deep pit for your reputation, it only makes sense if it’s not you in that photo and it’s not your real name next to it and all your blog posts are just a part of FUD campaign against IOTA. At this point we are stopping and I’ll be waiting for you to prove your identity before continuing…

[Prova123]

Please don't understand wrong. I'm not Eric. I want to be informed by you about the truth. It's my right behaviour and please avoid to write in that way. We are not under a dictatorship, in freedom WE HAVE TO UNDERSTAND ALL!

If there is a problem please NOT invite them hidding things and concerns. For your information WE have money gained by our jobs, saved by a lot of sacrifice and we don't like to play at a Casino roulette. Do you agree?

So please explain and please do not make a wall towards users writing here, noone amis to waiste time and move on... all right!?!

About the link:
Here it is:

https://medium.com/@ercwl/hello-david-b77bbc62c457

[Come-from-Beyond]

Please don't understand wrong. I'm not Eric. I want to be informed by you about the truth. It's my right behaviour and please avoid to write in that way. We are not under a dictatorship, in freedom WE HAVE TO UNDERSTAND ALL!

If there is a problem please NOT invite them hidding things and concerns. For your information WE have money gained by our jobs, saved by a lot of sacrifice and we don't like to play at a Casino roulette. Do you agree?

So please explain and please do not make a wall towards users writing here, noone amis to waiste time and move on... all right!?!

About the link:
Here it is:

https://medium.com/@ercwl/hello-david-b77bbc62c457

I forgot the link too - https://medium.com/@DavidSonstebo/co-founder-sergeys-response-2bd9284e523e

PS: At this point the guy's reputation is ruined, he will cry in different medias for some time and will find another work. It's not the first time I meet such a guy. Unfortunately, some bloggers can't find a good way to monetize their job so they sell their body to the highest bidder.

[youyou_]

This guy is the main dev of IOTA. I think he has patience to answer to your aggressive and clueless questions. I don't even understand why he does.

[francism]

The more that they try to attack IOTA, the more it will become stronger and the more they will become jealous. I expect IOTA will be on top 3 sooner or later.

[burner2015]

Keep calm here.

1) They did a AMA in Reddit, pls read it it was nice.
2) People asking a lot of questions.  I would recommend that the Devs focus on what is important (Tech)  and the Management and Marketing Managers answer questions.  But that is just a recommendation as the ECHO will be bigger here and everywhere.

3) I just wrote to a friend that this is maybe THE PROJECT , that kills ETH in 2 years time.  For the next 12 months I believe in ETH and it will grow further hopefully. IOTA needs time but from the TECH Point I feel it is better than ETH and ETH is only hyped trough ICOs.   But maybe I am wrong

Cheers,
Chris

[Come-from-Beyond]

@Prova123 rewrite your post without things like "f**k" please. I deleted it, but you can see its whole content in your PM posted by BTT bot. So it should be as easy as CTRL+C and CTRL+V.

[Prova123]

Sorry but about that Eric, his identity that I DO NOT KNOW. And I don't care! Please could you post here why IOTA is perfect and all I read is a big lie?



But, my tip, this problems IOTA could announce something and so avoiding misunderstandings. Moreover I have nothing to say.

[Come-from-Beyond]

Sorry but about that Eric, his identity that I DO NOT KNOW. And I don't care! Please could you post here why IOTA is perfect and all I read is a big lie?



But, my tip, this problems IOTA could announce something and so avoiding misunderstandings. Moreover I have nothing to say.

Post your questions. Concrete questions.

[anewafresh]

Sorry but about that Eric, his identity that I DO NOT KNOW. And I don't care! Please could you post here why IOTA is perfect and all I read is a big lie?

But, my tip, this problems IOTA could announce something and so avoiding misunderstandings. Moreover I have nothing to say.

Hey Prova123. As far as I can see, Eric's claims have already been responded to on medium. https://medium.com/@DavidSonstebo/co-founder-sergeys-response-2bd9284e523e
 

[Prova123]

Ok stop everything!

I posted that link for a confirm by the community that all is known and there are no problems.

In that article at the end, you can see:

At this point we are stopping and I’ll be waiting for you to prove your identity before continuing…

So all is stopped. I manage a basic english but it seems to me as "to be continued". If not, sorry.

[John_Paul]

IOTA team AMA/AUA on reddit - https://www.reddit.com/r/Iota/comments/6hugtq/ask_us_anything/

[mikesal3731]

Once IOTA is traded on other exchanges that allow wiring in of US dollars, is it possible to base pricing off of the US dollar instead of off bitcoin?  This would provide for a more stable benchmark to value IOTA.

[FractalUniverse]

its 41 cents right now

[hfaffiliates]

Reserved.. wait for next project.. but Suddenly add in coinmarketcap.

[Marcel Beliveau]

An article on medium.com is saying that IOTA is centralized.

Just an opinion below :

1/

The author thinks that, in 2017, such a cryptocurrency can be launched publicly less than 1 year ago, then hits the top 10 on coinmarketcap and be fully relying on the users.

 « yes the world is wild »

https://www.youtube.com/watch?v=4ihaOLOt29U

But what he wrote was interesting.

Many people already asked how can we trust the snapshotting process. Cores don’t know who is asking so they don’t explain everything each time. But now it's clearly written on Internet.


2/
As far as i know it’s possible to outsource « the proof of work ». There is also a project to distribute the work between devices.

But   even without these counter arguments, , he should not write that all devices are just 500Mhz powerful and running on small batteries…...Would it be really a problem to not include yet these devices in the project ?

It seems there is already a wallet on android   We will see feedback of users.

By the way it would be nice that someone explains according to which rules the level of work asked can be adjusted.

3/
Someone wrote in the comments that in the future it would be possible to put  a malicious coordinator……..But users have to check the wallet before installing. it’s the same for all crypto.

The force of IOTA relies on many users (Satoshi dream i would say).

4/
When snapshoting will be local event. It will skyrocket definitely.

Дo Пoбeды !!!!!

Marcel Beliveau

[luey]

Once IOTA is traded on other exchanges that allow wiring in of US dollars, is it possible to base pricing off of the US dollar instead of off bitcoin?  This would provide for a more stable benchmark to value IOTA.

Bitfinex already does this with some limitations, and you can withdraw basically anywhere as long as you have more than $50k usd+ per withdrawal.

Please be aware that USD wire withdrawals are currently severely hindered due to an ongoing disruption with US correspondent banks.

USD Withdrawals are currently processing in two ways:
1) For users with Taiwanese OBU bank accounts
2) Through a special, one-time withdrawal option available for amounts greater than $50k.

Please see bitfinex.com/posts/203 for more information.

[luey]

Again I ask, exactly how many transactions can IOTA handle at max capacity?

This is not the correct way to ask a question.


Instead i will answer by saying the minimum max "i" have seen so far is 800tps. and zero fee kicks ripple's ass rippling.
Iota by design scales with faster tps when there is more activity on the network.
The general answer would be as fast as the data transfer speed on a communication cable/device can handle.