IOTA - the scheme is being pumped hard now don't fall for the trap

[kenji]

https://innovationhub.innogy.com/news-event/3lj6DX6LS0C4SyKmgEOiQq/meet-our-future-customers--machines-with-wallets

https://azure.microsoft.com/de-de/blog/tag/iota/

https://insights.ubuntu.com/2017/02/20/iota-iot-revolutionized-with-a-ledger/

http://www.ibtimes.co.uk/iotas-tangle-meets-internet-things-requirements-better-any-blockchain-1626218

[AiWanChu]

Might be worth a shot putting a few hundred bucks on IOTA.. I mean, it could be a scam.. but people said the same thing about BTC when it was new.

Just dont put your life savings into an unproven coin that came out of nowhere with 1.6b mcap.. but worth a shot still

[polaris409]

Might be worth a shot putting a few hundred bucks on IOTA.. I mean, it could be a scam.. but people said the same thing about BTC when it was new.

Just dont put your life savings into an unproven coin that came out of nowhere with 1.6b mcap.. but worth a shot still

EXACTLY... people in this thread acting like they are putting millions into this. $200 .... seriously I can spend that in a weekend on buying craft beer (wont buy more for some time once the wife finds out...but still).

 

[google98]

maybe this helps to clear some scam fear: https://www.youtube.com/watch?v=9-uzzNocgvk

[crypto jerk]

Might be worth a shot putting a few hundred bucks on IOTA.. I mean, it could be a scam.. but people said the same thing about BTC when it was new.

Just dont put your life savings into an unproven coin that came out of nowhere with 1.6b mcap.. but worth a shot still

I wouldn't go so far to call it a scam, a really really stupid investment at the moment but its too early to call a scam.

Example: Is Mcdonalds scamming people by calling their products food? No, while their "food" is barely edible garbage it is digestible whereas if they sold imitation wax food and called it a meal, theyd be scamming)

(Used the McD's example cause stupid investors most likely eat stupid food)

[vlight]

The reasons IOTA raised little BTC are because it was the very end of the crypto bear market and the team haven't really delivered with their previous project which raised huge concerns. The initial 20x rise was because ETH started the altcoin bull market and also a lot of initial investors realized that the project is legit and they should have invested more. I had my concerns and almost accused devs of scam, but they worked hard and eventually managed to get IOTA to large exchange.

[CryptosapienZA]

Might be worth a shot putting a few hundred bucks on IOTA.. I mean, it could be a scam.. but people said the same thing about BTC when it was new.

Just dont put your life savings into an unproven coin that came out of nowhere with 1.6b mcap.. but worth a shot still

I am not an expert but my money is in. From the little research I have done, this project is worth taking a chance on. I generally dont like ICOs, but this one I like.

[randombit]

Might be worth a shot putting a few hundred bucks on IOTA.. I mean, it could be a scam.. but people said the same thing about BTC when it was new.

Just dont put your life savings into an unproven coin that came out of nowhere with 1.6b mcap.. but worth a shot still

I wouldn't go so far to call it a scam, a really really stupid investment at the moment but its too early to call a scam.

Example: Is Mcdonalds scamming people by calling their products food? No, while their "food" is barely edible garbage it is digestible whereas if they sold imitation wax food and called it a meal, theyd be scamming)

(Used the McD's example cause stupid investors most likely eat stupid food)

You do stupid faggot

You will be one of the people which will cry again, that he missed the chance to be part from early stages @Koloko  .  

If iota everything is what it promises, then we will see a rise like never before in the cryptoworld, mark my words.  We ve seen a lot of projects , but never one like this  before. This could even surpase Ethereum after some time, and thats not a joke.

[luey]

this is a definite scam. no way 2000x (200000%) returns...
watch out!

THIS IS EXACTLY THE WAY THE WORLD IS VIEWING BITCOIN RIGHT NOW!
From literally $0.000001 to $2k+? NO WAY!! SCAM!! WATCH OUT!! DRUG MONEY!!

Innovations Grow exponentially!

Look at TESLA STOCK MARKETCAP VS GM MARKETCAP!

TESLA 61.68B
   
GM 52.35B

NO WAY!! TESLA is also a scam!

Make yourself a favor and do a proper research yourself instead of listening to what is given to you.
Only the educated ones should deserve the benefits!

[mining1]

Watch out with this one. It's security is unknown and it's PoA, aka centralised.

[Jumanji7]

Their developer stays in anonymity. They have a moderated thread. So yes, definitely stay away of IOTA!

[SatoNatomato]

Their developer stays in anonymity. They have a moderated thread. So yes, definitely stay away of IOTA!

They use sock-puppets, personal insults, appeal to authority as arguments.

The bigger lie you tell, the easier it is for idiots to believe it.

[mining1]

Why would i buy into a centralised project ? It has a central coordinator. Something like ripple.

[HardFireMiner]

https://innovationhub.innogy.com/news-event/3lj6DX6LS0C4SyKmgEOiQq/meet-our-future-customers--machines-with-wallets

Future, future, bla bla, free, on a sub domain on innogy.com

https://azure.microsoft.com/de-de/blog/tag/iota/

Microsoft partnership but only a crappy article on azure, microsoft's development platform (similar to github but with prepaid subscription), where any developer can post about the work he is doing...

https://insights.ubuntu.com/2017/02/20/iota-iot-revolutionized-with-a-ledger/

Okay, another payed article on ubuntu insights, so what?

http://www.ibtimes.co.uk/iotas-tangle-meets-internet-things-requirements-better-any-blockchain-1626218

And another payed article, so what?

[vgo]

[luey]

IOTA CORE DEV TEAM REDDIT AMA to answer all your concerns!
https://twitter.com/iotatoken/status/875663384183795712



BLOG POST FROM iota founder to address the recent misinformations!
https://blog.iota.org/the-transparency-compendium-26aa5bb8e260


COORDINATOR IS NOT CENTRALIZED LIKE YOU THOUGHT

IOTA is currently in what should be considered a ‘transition period’ towards large scale deployment and standardization. Like Bitcoin, Ethereum and all other distributed consensus protocols before it, the IOTA network need an onboarding mechanism to provide 34% attack protection in its early days. Due to the unique underlying architecture of IOTA this takes the shape of a ‘Coordinator’. The ‘Coordinator’ or ‘Coo’ for short, is essentially training wheels for the network until the amount of organic activity on the ledger is sufficient to where it can evolve unassisted, at which point the Coo is permanently shut off. This does not mean that the IOTA ledger is currently in any way centralized, the network is 100% decentralized, every node verifies that the Coo is is not breaking consensus rules by creating iotas out of thin air or approving double-spendings. In fact any talented programmer could replace Coo logic in IRI with Random Walk Monte Carlo logic and go without its milestones right now, so technically even at present the Coo is entirely optional. The only role the Coordinator serves is to protect against attacks in this temporary infancy stage of the Tangle ledger, if we shut the Coo down the network would continue to evolve as it will in the future when it is unassisted by these ‘training wheels’.

First they ignore you, then they ridicule you, then they fight you, and then you win.

[Scott J]

So funny seeing people call IOTA a scam because they missed out or feel threatened by it.

Here are some IOTA facts:

• It was crowdsold on here in 2015 for 1337 BTC with no coins reserved for development/anything else
• It has since been heavily traded OTC and on a semi-automated slack escrow service - the market cap built up gradually
• It only needs the coordinator to prevent a 34% attack - when network is large enough it will be switched off
• It has partnerships with multiple Billion-dollar companies
• It has a good distribution of coins, better than many cryptos:
  https://altcoinspekulant.wordpress.com/2017/06/11/iota-an-update-on-token-distribution-and-exchange-launch

http://iotasupport.com/whatisiota.shtml

[JosephTam]

Very early days to tell where this coin is going, it's Mcap is ridiculous but clearly someone is buying!

Reminds me of the facebook IPO, huge hype surrounding it, the price opened up ridiculously high and then it plummeted, but look at it now!

I would be interested to see where this coin ends up in the next few months.

[element72]

Very early days to tell where this coin is going, it's Mcap is ridiculous but clearly someone is buying!

That's probably because at least one VC already spent millions. And that was an investment. It was his first for crypto too, iirc. He doesn't plan to trade it and believes in IOTA's principles. But to the others who also bought in at the ICO... they probably are shorting for a quick profit lol. I would put big bets that those guys are going to rebuy at the bottom. The other half of the downtrend could be explained by following the downtrend of bitcoin -- and combined with capitulation -- panic sellers.

Scott J just made some good points about a couple of the flaws well known. I think we should all join in at the AMA this Saturday. The core dev team will be there, and then we can finally put to rest the viability of the features they are claiming.

[European Central Bank]

before you consider scamminess, technical proficiency or not, a largely unproven new coin on hardly any exchanges starting off with a market cap of over 1 billion dollars does not look like a sensible bet even with a market as bubbly as this. i'll wait and see.