Is Iota a scam? COME TO FIND, ABSOLUTELY NOT!!!

[BlackWidow]

EDIT:

THIS WAS A THREAD ASKING IF IOTA WAS A SCAM BACK WHEN IT WAS NEW.

NOW WE ALL KNOW THAT IT IS A VERY SUCCESSFUL PROJECT

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[DecentralizeEconomics]

My opinion on the matter is that Jinn/IOTA was a very misguided attempt to start a company in a space where it is practically impossible to succeed due to the obstacles present.  I think Come-from-Beyond is a decent guy who is smart in the technical sense, but doesn't have a lot of business experience.  I don't think he set out to scam anyone.  David on the other hand, I'm not sure about.  David could just be very naive and lacking in any business skills.  Competing against the giant companies involved in hardware manufacturing with the budget and business expertise that they possess is for all practical purposes imo impossible.  You have to realize the companies they are up against.  These are companies with unlimited resources compared to them.  Regardless of how smart CfB is, he cannot compete against the teams these companies have assembled in this space.  He only has so much time a day and it is foolish to think he can out design and out produce a team of individuals.  I think choosing David for this project was the nail in its coffin.  David is a degenerate and a communist who has absolute no idea what he is doing.  Personally, I wouldn't hire David to take out the trash let alone be the CEO of a company.  Basically, he is a joke.  If you haven't seen his facebook page, you should look at it.  Between David and the other companies they are up against, imo the project is set to fail.

[Mel Brooks]

The truth be told I am not one to know.











But



From my perusing of these "alternatives" to the coin of bit, I constantly find myself reminded of a film I wrote during my younger years way back in the 60's.


http://www.imdb.com/title/tt0063462/

The plot tends to only differ in that some how in cryptocurrency the plan seems to work as intended.

[rdanneskjoldr]

I dont think its a scam. David is right that iota has been started to test in beta, although in a very early phase still, and most of that has been done on Ryver. And time has been well used meanwhile.

But its true that its stupid to claim there has been no delay at all or everything has been delivered, and keep making statements like:

Trust me, the price will *not* suffer. Pay attention to the news that will be released in the coming week and you'll see why;) We'll launch the official blog and forum of IOTA in the coming week with a lot of interesting news, so don't worry about price or development taking a blow.

that again have been missed. Why not just dont say anything and deliver when the right time comes? These comments only raise expectations and then tilt and make people lose hope in the project.

[crazywack]

Development ALWAYS takes longe then projected. sit back and wait, also remember most ICO's dip before taking off.

[LEONPATTON]

My opinion on the matter is that Jinn/IOTA was a very misguided attempt to start a company in a space where it is practically impossible to succeed due to the obstacles present.  I think Come-from-Beyond is a decent guy who is smart in the technical sense, but doesn't have a lot of business experience.  I don't think he set out to scam anyone.  David on the other hand, I'm not sure about.  David could just be very naive and lacking in any business skills.  Competing against the giant companies involved in hardware manufacturing with the budget and business expertise that they possess is for all practical purposes imo impossible.  You have to realize the companies they are up against.  These are companies with unlimited resources compared to them.  Regardless of how smart CfB is, he cannot compete against the teams these companies have assembled in this space.  He only has so much time a day and it is foolish to think he can out design and out produce a team of individuals.  I think choosing David for this project was the nail in its coffin.  David is a degenerate and a communist who has absolute no idea what he is doing.  Personally, I wouldn't hire David to take out the trash let alone be the CEO of a company.  Basically, he is a joke.  If you haven't seen his facebook page, you should look at it.  Between David and the other companies they are up against, imo the project is set to fail.

Do you mean Zimbeck?

[cryptomite]

@op

No its not a scam.

Give David some credit. He's put together something big. So he's missed some deadlines. What else is new. You got a great investment. You won on this one. Enjoy the ride.

[iotatoken]

I dont think its a scam. David is right that iota has been started to test in beta, although in a very early phase still, and most of that has been done on Ryver. And time has been well used meanwhile.

But its true that its stupid to claim there has been no delay at all or everything has been delivered, and keep making statements like:

Trust me, the price will *not* suffer. Pay attention to the news that will be released in the coming week and you'll see why;) We'll launch the official blog and forum of IOTA in the coming week with a lot of interesting news, so don't worry about price or development taking a blow.

that again have been missed. Why not just dont say anything and deliver when the right time comes? These comments only raise expectations and then tilt and make people lose hope in the project.

Even responding to the troll DecentralizedEconomics is a waste of time, he was banned from nxtforum for death threats and had threads removed here for trolling before. So /ignored


Now rdanneskjoldr: GUI is the ONLY thing that has been delayed, which we have been completely open about, we have revealed which company we hired and why they failed to deliver. There has been absolutely no ambiguity or obfuscation of reality here. We have been 100% open and transparent all the way. Maybe this is why IOTA is already selling at 10-15x original price, yet you are complaining? We never even promised 1x and already delivered 15x before official beta launch and revelation of exciting news, yet you complain.

Are you participating in the testing? Weird if you bought software, yet aren't interested in testing it. What have you done for the ecosystem? Only in crypto do people buy software and EXPECT, no actually DEMAND a magic 100x is somehow 'owed' to them.  Crypto-greed is hilarious.


On topic:

No IOTA is not a scam, IOTA was sold legally as software, plain and simple. IOTA has partnered with different IoT groups and is being adopted into more and more projects. It will go into full beta soon and subsequent release.

[cryptohunter2]

The truth be told I am not one to know.













But



From my perusing of these "alternatives" to the coin of bit, I constantly find myself reminded of a film I wrote during my younger years way back in the 60's.


http://www.imdb.com/title/tt0063462/

The plot tends to only differ in that some how in cryptocurrency the plan seems to work as intended.

Mel Brooks? is that you?

[cryptohunter2]

My opinion on the matter is that Jinn/IOTA was a very misguided attempt to start a company in a space where it is practically impossible to succeed due to the obstacles present.  I think Come-from-Beyond is a decent guy who is smart in the technical sense, but doesn't have a lot of business experience.  I don't think he set out to scam anyone.  David on the other hand, I'm not sure about.  David could just be very naive and lacking in any business skills.  Competing against the giant companies involved in hardware manufacturing with the budget and business expertise that they possess is for all practical purposes imo impossible.  You have to realize the companies they are up against.  These are companies with unlimited resources compared to them.  Regardless of how smart CfB is, he cannot compete against the teams these companies have assembled in this space.  He only has so much time a day and it is foolish to think he can out design and out produce a team of individuals.  I think choosing David for this project was the nail in its coffin.  David is a degenerate and a communist who has absolute no idea what he is doing.  Personally, I wouldn't hire David to take out the trash let alone be the CEO of a company.  Basically, he is a joke.  If you haven't seen his facebook page, you should look at it.  Between David and the other companies they are up against, imo the project is set to fail.

Do you mean Zimbeck?

I don't think so. David Zimbeck works on bitbay and night trader only now. As far as i know. Why would you think they refer to him?

[achimsmile]

Delay does not equal scam. Noone likes delays, but they happen often.
You may think about "the main guy" david what you want, but the ideas behind iota are very smart.

That being said, I'm running a iota node since 3 weeks. So nope, no scam here.

[altcoinUK]

Read the unmoderated IOTA thread, you could start here at https://bitcointalk.org/index.php?topic=1354220.msg14029127#msg14029127 and then you will understand why IOTA is a blatant scam. Zero monetization route for the technology, never mind the fact that they do not have any IoT technology nor the resources and expertise to create one.

You must understand, scams like IOTA have nothing to do with technology, business nor monetization. The monetization route and business model of the IOTA scam are based on the concept of milking money from the idiots. It is a straightforward law enforcement matter, just like Mooolah, Bitbay and Banxshare scams were.

[achimsmile]

they do not have any IoT technology nor the resources and expertise to create one.

Then the iota version I'm running right now must have been created by a unicorn. That's fine with me.

[altcoinUK]

IOTA was sold legally as software, plain and simple. IOTA has partnered with different IoT groups and is being adopted into more and more projects. It will go into full beta soon and subsequent release.

Don't lie you pathetic scammer, even if you are too desperate to explain your scam.

a)  IOTA is in breach of all relevant EU and US financial securities regulations. You are defrauding money from these idiots by selling illegal financial securities. You think you will mask the nature of your scam by calling it for software - in fact such desperate misleading masking only highlights the nature of your fraud. You are saying it is a software and it is not a speculative instrument. In the meantime you hype the scam with your predictions and statements about 10-15x ROI - the usual misstep from an incredible primitive scammer. Such misstep was seen that from the Mooolah Ryan Kennedy (who is in jail now), so law enforcement is familiar with wankers like yourself.

b)  Since you are a pathetic scammer and nothing more, you do not have any "IoT groups" that endorse you non existent shit. No IoT solution provider nor an IoT technology business is interested in your non existent vaporware. It would be a surprise if it would be any, as the few Java files that implements the IOTA protocol have nothing to do with IoT application development. The only "groups" which you have any relations to is those Hong Kong based non entity, nobody knows them in the IoT sector.

c)  Despite you promised so many things for the idiots who invested in you, you did not deliver anything in the last four months. You have zero IoT projects. None. You could make zero sell. You couldn't even deliver a fucking GUI in 4 months. No wonder you couldn't deliver anything: you have zero experience in software development and your zero employee IOTA business operates in your momma's basement.

So fuck off scammer and wait for the law enforcement in your momma's basement.

[Come-from-Beyond]

They promised Xmas release

Do you have the link handy?

[altcoinUK]

That's fine with me.

Of course it is fine with you. The scam was created for the shrills and idiots like yourself (pick which is applicable to you) who invest in an IoT business and then "fine" with the fact that what you received has nothing to do with IoT. Why would you care you received a few poorly written Java files that implements the IOTA protocol, which of course has nothing to do with Internet of Things. (Let me don't explain here what an IoT system is, how authorization, access control, device management, provisioning, etc. assemble an IoT system, I explained it in other threads). So of course you are fine with that. You are just waiting for the start of the P&D to sell the shit at the expense of the even more idiots who buy into the hype of the IOTA shills and sockpuppets.

[iotatoken]

Read the unmoderated IOTA thread, you could start here at https://bitcointalk.org/index.php?topic=1354220.msg14029127#msg14029127 and then you will understand why IOTA is a blatant scam. Zero monetization route for the technology, never mind the fact that they do not have any IoT technology nor the resources and expertise to create one.

You must understand, scams like IOTA have nothing to do with technology, business nor monetization. The monetization route and business model of the IOTA scam are based on the concept of milking money from the idiots. It is a straightforward law enforcement matter, just like Mooolah, Bitbay and Banxshare scams were.

Haha, I love how your view evolves with each tidbit of info you find after countless hours spent scouring the internet for any piece of info you might be able to mould into your troll narrative. First you are ADAMANT that IOTA was ran by a Norwegian 24 year old with no registered company and a Belarusian scammer, now it is indeed registered and ran by someone born in 1989. Did these facts contradicting your previous claim make you accept that you are wrong? Nah, of course not. Oh and btw really nice to see my childhood home on here, I did indeed live there at one time, beautiful scenery on the Norwegian country side. If you continue Googling you might even find MY real address and even full birthday!

But since you're like a malignant tumor that got nothing better to do but spread your nonsense everywhere, let's just face this head on for the 100th and final time. I challenged you to provide me with your legal name to see if you are indeed willing to stand behind your provably false claims that IOTA is a scam and fraud. Of course you pussied out and did not dare to do this, instead you disappeared for a few days to rinse off the embarrassment and came back pretending that you never ran away with the tail between your legs only to continue spewing nonsense.

So here I'll address these trolls' caims for the 100th and final time:

1. IOTA has no monetization plans. Of course not, that would make it an asset/security. We always sold IOTA the technology as software, just like Ether in Ethereum and Rep in Augur is software. IOTA software allows you the ability to do transactional settlements, messaging and data transfer with a heavy emphasis on the IoT ecosystem (lightweightedness) CAN this software increase in value? Sure, an integral part of this software's functionality is that it exist in a fixed quantity, a side effect of this is that it can indeed increase in value with demand, just like all other things that exist in a fixed limited quantity. In fact by the demand side it already has appreciated in value, this is a result of the free market, ANYTHING can increase/decrease in value, but we NEVER made any such promises. The monetization purchasers of IOTA can get is through what they build with IOTA. That is YOUR responsibility as a buyer, not ours.

2. IOTA is vaporware, it doesn't and will never exist. Again you make this hyperbolic statement in the face of plain evidence to the contrary. This reveals your true nature as someone with truly no intention of finding and exposing the truth, rather you saw IOTA as a threat to Gadget (this is well documented a month prior to us even announcing the crowdsale) and decided that you'd dedicate your life (well if it can even be considered a life) to try in a futile effort to bring the project harm. Fortunately trolls have no influence on development. IOTA back-end has been developed and gone through intensive testing and optimization for a long time already. So yea, your claim is 100% fallicious, as always

3. Jinn the hardware processor is also vaporware and cannot come to fruition because we're not billionaires and we're not Intel. Once again this reveals that you have absolutely no understanding of the real world (which has become quite apparent by this point). We never stated we would go up against Intel's market (except of course natural competition in IoT division). Intel has a virtual monopoly on desktop and server high-end processors, we're not even looking at this market. We have always stated from day 1 that we're developing a processor for distributed computing in IoT. And yes, we already got manufactured hardware tested, so again no vaporware. Again: you have been proven wrong. But now to the real point: What we're developing is called Hardware Intellectual Property, which is essentially licensing, which is what companies such as ARM Holdings have been doing for decades. This means that you do not manufacture the hardware yourself (it would be extremely expensive, think Intel/Samsung/IBM), rather you come up with the architecture, make prototypes, manufacture a small set of full processors and hand them off to product engineers with specs, if they like it they may buy X licenses from you and then the chips are manufactured and placed into the devices.  TADA. This is not magic, nor is it quantum physics, you should be able to grasp it.

4. David is an international communist!. Due to me having written extensively about my support for Universal Basic Income to counter the inevitable huge loss of jobs that Industry 4.0 (where IoT makes up a big part) will bring, I have become known as a 'international communist' by these trolls.  Yet I argue for business bringing about change. What to make of this? I know your trolling brains cannot hold two ideas at once, too much cognitive dissonance, so you are unable to see the infinite nuances in the world that need to be taken into consideration to achieve something of value. Just to add fuel to this fire: I am even a long term supporter of Bernie Sanders!


Now either fork over your legal name so that we can settle this illegal slander once and for all, or just continue trolling with not even ONE real person taking you seriously. It genuinely satisfies me to know that you trolls are spending a HUGE amount of time, literally making up a real measurable part of your entire life, time that you will never ever get back. You were (unfortunately most would say) against all odds born into this universe, an event that will never happen again, by nature herself given this one single opportunity to experience the world in all its glory, maybe even leave a footprint in the sand of time, but instead you have decided to sacrifice it for us. All in a fruitless endeavor. It's almost as if your envy towards us alone is worth more than your actual life. Out of the very finite amount of grains of sand in your hourglass you are dedicating a big portion just to vent your frustration, frustration which has built up throughout your failed existence, on us. Almost like we should feel honored. But now I got real work to do. Thanks for the entertainment, maybe you should consider getting a job in comedy.

[Come-from-Beyond]

Now either fork over your legal name...

Hm, even if he gives his legal name any judge will declare him incapacitated after reading his posts, better leave it as is.

[achimsmile]

poorly written Java files

Link to the files and code lines together with an explanation on why they are poorly written, or I will conclude that you are a liar.

[Come-from-Beyond]

or I will conclude that you are a liar.

LOL, it was shown several times.