[IOT] IOTA Speculation

[mnemonicsoup]

Self-moderated thread for discussion of Iota trading and price speculation.

Off topic posts will be removed. Off topic includes any extensive discussion of other coins, promoting other coins, or posting of promotional materials from other coins.

Non-substantive comments such as Iota sucks, Iota is a scam, Iota is great, Iota to the moon, etc. are considered off topic. Every post and reply should add to the discussion. The preceding sentence forbids repetitive exchanges on the same topic without some topical context.

Hostile trolling (which includes but is not limited to use of "meme" pictures to attack or demean) especially by sock puppet accounts is not allowed.

When quoting posts, please remove any large charts or other images unless the quoted post is at least one page old. Please shrink (or remove) large images in replies in all cases.

When I am speaking as the moderator, and only then, I will write in red. Other messages using red text are not permitted.

(I copied this text from Smooth's Monero Speculation thread. Thanks to Smooth!)

[vlad06]

What was the price before it hit the exchange?

[kimjong]

What do you guys think where will the price go in the next few days?
I read on twitter:
"$IOTA is about triple what OTC trading ended at 12 days ago, want to see that gap fill as liquidity reaches finex" @cryptopathic

What do you guys think how low will the price go and which price is suggested for an entry?

[mnemonicsoup]

What was the price before it hit the exchange?

http://iotaprice.com

[arestrader]

iota ----> eth

[vlad06]

iota ----> eth

Are you on glue?

[V.Pelewin]

iota ----> eth

Are you on glue?

IOTA is superior to eth. No transaction fees, and unlimited scalability.

https://www.youtube.com/watch?v=LyVLq13WfsE

[prabakharras]

No tx fee and unlimited scale, where is the economy?

[loreRex]

No tx fee and unlimited scale, where is the economy?

yeah, same question I was asking here: https://bitcointalk.org/index.php?topic=1965328.0

[psychosis7]

iota ----> eth

Are you on glue?

IOTA is superior to eth. No transaction fees, and unlimited scalability.

https://www.youtube.com/watch?v=LyVLq13WfsE

Do you have a running testnet with a stress test to prove your scalability claims? Bitshares did this and found out their TPS is much less than the expected 100,000/s .. Prove it or its just BS.

[Mr. Green]

Circulating Supply
2,779,530,283 IOT

Max Supply
2,779,530,283 IOT

They sold all the iota to the funders and now funders have to sell their iota's to other people.

No PoW, no fee, no economy.

Fucking ponzi.

If everything is free with iota,.. Why would i pay for an IOTA? Don't make any sense dawg

[V.Pelewin]

Circulating Supply
2,779,530,283 IOT

Max Supply
2,779,530,283 IOT

They sold all the iota to the funders and now funders have to sell their iota's to other people.

No PoW, no fee, no economy.

Fucking ponzi.

If everything is free with iota,.. Why would i pay for an IOTA? Don't make any sense dawg

Lots of assumptions and little understanding. Consider reading up on the project.

[tyz]

Circulating Supply
2,779,530,283 IOT

Max Supply
2,779,530,283 IOT

They sold all the iota to the funders and now funders have to sell their iota's to other people.

No PoW, no fee, no economy.

Fucking ponzi.

WRONG!

There was an IOTA crowdsale one and a half year ago. Here is the thread https://bitcointalk.org/index.php?topic=1262688.0
Bitcoin worth around one million $ (at this time) were collected. Development and heavy testing was ongoing over more than a year ago. Most activity happened in the Slack channel with a lot of people which were active there. First beta version was released in March 2016 and trading has been since then but not on official exchanges but in Slack channel. Today is the first day the coin hit a "mainstream" exchange. From the slack price to the Bitfinex price it just ten fold.

If everything is free with iota,.. Why would i pay for an IOTA? Don't make any sense dawg

Read the white paper to understand the concept. IOTA is brilliant. It uses POW. Before you are able to create a new transaction you have to confirm two previous transactions in the network. The more transactions are created the faster the transactions are and the more can be processed.

IOTA does not follow the known blockchain pattern. It is something new. You have to take this into consideration when arguing.

[Itsmafy]

This coin came from nowhere straight to the top 6. Seems legit.

[nnx3]

people You are blind? have look:

2,779,530,283,277,761 total supply IOTA = 2,779,530,283 Mega Iota

direct link : http://iotasupport.com/whatisiota.shtml

price is 1000000 more high value than should be

[FractalUniverse]

2,779,530,283,277,761 total supply IOTA

that must be a joke 

[Akarabzie]

people You are blind? have look:

2,779,530,283,277,761 total supply IOTA = 2,779,530,283 Mega Iota

direct link : http://iotasupport.com/whatisiota.shtml

price is 1000000 more high value than should be

Price is actually correct, coinmarketcap was mislabeled the name.

Coinmarketcap should read MIOTA which is Mega Iota as in 10^9

All price and trading is done in MIOTA

IOTA does not use decimals as BTC does.

2,779,530,283,277,761 IOTA

1,638,927,500,000,000 Satoshi

Is it really that hard for people to not think in terms of decimals 

Think of 1 IOTA as 1 Satoshi and there is only twice the supply. IOTA is meant for micro transactions between Machines, not humans.

I've been following the project for around 1.5 years, and bought in right after ICO. If you guys have real questions I'd be glad to help. Anyone who says this tech came out of nowhere is a moron. Its almost 2 years old now and sprouted from the JINN project/devs. Most are just upset they missed the boat, because there was no flashy ICO or huge announcements or advertisements. Devs have basically only focused on making the tech work and actual development which is lacking in new coins these days.

There are some pretty big investors lined up as well, but they are not confirmed or announced yet so I will not mention them, but there are some that have been announced and I hope you would research that as well. Transaction thorough-put has been tested, and verified during last stress test(done mostly by community). The trans/sec is actually real guys...

[loreRex]

Can you answer this (quoting myself from another post):

Iota introduces an interesting new concept in the crypto scenario: the directed acyclic graph, or DAG. Basically it's an evolution of the usual blockchain, requiring no fees and without scaling issues.

Nevertheless, after having a quick look at the white paper I still don't understand how the nodes will keep working continuously. In the "tangle" there are no miners, the beloved greedy workers of the Bitcoin blockchain. Instead, here to perform a transaction, you should verify other transactions first. In the white paper (http://iotatoken.com/IOTA_Whitepaper.pdf) they say:

what motivates the nodes to propagate transactions? In fact, in our setup the nodes do not have motivation
not to propagate. Every node calculates some statistics, one of which is how many
new transactions are received from a neighbor. If one particular node is “too lazy”, it
will be dropped by its neighbors. So, even if a node does not issue transactions (and
hence has no direct incentive to share new transactions that approve its own one), it
still has incentive to work hard.

I'm not convinced by this statement. In fact, let's say that  I'm a node and I don't want to be excluded by other nodes (and even on this I would like to understand what it means to be excluded. If you start again working hard can you be re-admitted? I could work only if I need to do transactions).
If my fellow nodes work x, I could work 0.99 x to not get excluded and minimize my work. But this reasoning can be applied to every node, since electricity has a cost, so everyone one will lower its effort, resulting in a system that perform poorly.

[V.Pelewin]

Why don't you ask your question in the Iota announce thread?

https://bitcointalk.org/index.php?topic=1216479.9120


Some nice infomercials on Iota:

https://www.youtube.com/watch?v=h09z2N0MtuQ&t
https://www.youtube.com/watch?v=LyVLq13WfsE

[kimjong]

I believe the price will go down soon.
If I decide to entry, then it will be in about 3 days.

MY target: 0,1 USD


Just speculation.