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

[ridery99]

No Idea how this is holding any price following MIT revelations.

The response has been even more worrying.

Anyone who questions gets banned from Slack. Genuine questions/concerned comments are deleted.
The code was alledgedly 'planted' there by Come from Beyond to prevent code theft/copying - yet IOTA have made a huge song and dance about being open source - being non-profit to encourage corporate intergration.

An 'eco-system fund' that is offers $10,000,000 to get projects involved in the protocol. That security was compromised from the inception this seems rather sinister.

The 'currency' is currently run from a master node in no way decentralized. The wallet is a complete disaster. I have coined a new phrase for Dom's marketing - DUF - distributed unverified favor. information consists solely as leaks, that cannot be discussed ie Volkswagen, Ford, Bosch, Innogy, Cisco, All these names are 'out there' but cannot be discussed..

In his roof top speech he talk's almost delight at being an eBay scammer and blocked from Paypal. This attitude of disdain towards the 1000's or customers and investors that have put substantial money and faith in him has only increased. He does not give one fuck.

Come from Beyond has a murky past with writing back doors into outher projects he has been involved in.

Dom say's that nobody's funds were ever at risk - well why build a back door in the first place. CFB say's it was built to deter copy cat's and was 'impossible' to find without extensive analysis - MIT think differently.

 If ever a project needed trust, and transpanecy it is one that foregoes the blockchain and miner verification.

In the best light it looks utterly imcompetent in the worse a failed attempt at a criminal enterprise.

The listing solely on Bitffinex also looks like complete insider trading - Incredible volumes that could only be achieved by an in house 0% commision API.

It's really the biggest disappointment of the summer. I think David S had produced some truely novel and utlitarian code. I believe it was maligned by other actors - the evidence is massive - almost enough for a magazine article. Jeremy Epstine shouts Conspiracy/libel across Medium - Later we learn there is a conspiracy and the MIT researcher is refered to in extremely derogatory terms.

I really, really hope someone can rescue this technology.

DEVs dumping before answering thaths why scam ain't answer investors quistions straight scam unlike lisk innovation coin in the exchangers unlike iota

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[25hashcoin]

Iota = scam

[ridery99]

Iota = scam

Lisk told us to stay away.

[Come-from-Beyond]

Iota = scam

What meaning do you put into word "scam"? Standard BTT's definition ("a successful project I didn't invest into") or something else? 

[cryptohunter]

Iota = scam

What meaning do you put into word "scam"? Standard BTT's definition ("a successfully deliberate narrowly distributed collusion market making scheme/project I didn't get the insider sock puppet memo to invest into") or something else?  

Nope not something else ... i think you summed it up perfectly

[SatoNatomato]

Criminal Enterprise.

Similar to stealing from old people but advanced and worse.

[Come-from-Beyond]

Similar to stealing from old people but advanced and worse.

Worse? Do you mean "not white gay old people with disabilities"? 

[ronoa]

Iota = scam

What meaning do you put into word "scam"? Standard BTT's definition ("a successfully deliberate narrowly distributed collusion market making scheme/project I didn't get the insider sock puppet memo to invest into") or something else?  

Nope not something else ... i think you summed it up perfectly

^The guy who was butt hurt and missed the IOTA train. And still can't get over it.

[cryptohunter]

Iota = scam

What meaning do you put into word "scam"? Standard BTT's definition ("a successfully deliberate narrowly distributed collusion market making scheme/project I didn't get the insider sock puppet memo to invest into") or something else?  

Nope not something else ... i think you summed it up perfectly

^The guy who was butt hurt and missed the IOTA train. And still can't get over it.

^ The guy who does not have the capacity to understand the point of this thread and has to resort the the old fav butt hurt comments of every other scammer caught with hands in the cookie jar.

Refute the points made in this thread or remain quiet. I'll await your rebuttal of those said points or your silence.. either is fine. If you have no clue as to the points I refer too then try reading again this time more slowly.

[Come-from-Beyond]

^ The guy who does not have the capacity to understand the point of this thread and has to resort the the old fav butt hurt comments of every other scammer caught with hands in the cookie jar.

Then provide bullet points. If you post info it's your main job to make it digestible.

[SatoNatomato]

^ The guy who does not have the capacity to understand the point of this thread and has to resort the the old fav butt hurt comments of every other scammer caught with hands in the cookie jar.

Then provide bullet points. If you post info it's your main job to make it digestible.

If you post a whitepaper in 2015, maybe its your point to prove or show a network without a Coordinator?

[Come-from-Beyond]

If you post a whitepaper in 2015, maybe its your point to prove or show a network without a Coordinator?

We are working on that and will prove everything in due time. This is how it works in the reality without magic beans.

[Lauda]

If you post a whitepaper in 2015, maybe its your point to prove or show a network without a Coordinator?

We are working on that and will prove everything in due time. This is how it works in the reality without magic beans.

You mean, the same way that you've produced your own *working* hash function?

[Come-from-Beyond]

You mean, the same way that you've produced your own *working* hash function?

You imply you can break it? 

[Lauda]

You mean, the same way that you've produced your own *working* hash function?

You imply you can break it?  

It was flawed and on a level of code that is often produced by high-school developers. MIT did the job for you: https://medium.com/@neha/cryptographic-vulnerabilities-in-iota-9a6a9ddc4367.  

We found that IOTA’s custom hash function Curl is vulnerable to a well-known technique for breaking hash functions called differential cryptanalysis, which we then used to generate practical collisions. We used our technique to produce two payments in IOTA (they call them “bundles”) which are different, but hash to the same value, and thus have the same signature.

[Come-from-Beyond]

It was flawed and on a level of code that is often produced by high-school developers. MIT did the job for you: https://medium.com/@neha/cryptographic-vulnerabilities-in-iota-9a6a9ddc4367.  

We know their opinion. Now answer my question. 

[SatoNatomato]

Nobody of any calibre is going to spend 2minutes of their time checking the work of a high-school level guy.

I told you back in February your Curl function is shit and not worthy more of my time, or the measly 10k usd bounty.

No matter what you produce, and what you sell it as, it will not be even be worth attacking it.

Also, the better professional, the more likely they would not feel ethical to attack and steal other peoples money.

Iota, and any other coins you are involved in, have the security of wordpress webpages.

Just do what you are good at, sell hot air and scam idiots.

[Come-from-Beyond]

Nobody of any calibre is going to spend 2minutes of their time checking the work of a high-school level guy.

I told you back in February your Curl function is shit and not worthy more of my time, or the measly 10k usd bounty.

No matter what you produce, and what you sell it as, it will not be even be worth attacking it.

Also, the better professional, the more likely they would not feel ethical to attack and steal other peoples money.

Iota, and any other coins you are involved in, have the security of wordpress webpages.

Just do what you are good at, sell hot air and scam idiots.

Let Lauda answer first.

[cryptohunter]

I was wondering why IOTA is the only top currency up big today.  

Since the ICO 3 years ago, it seems like all anybody around here can talk about is the Tangle.  

So much love for it and so much hate too.  

It seems that you either love crypto or you hate it!

What are you ?

A crypto lover ?

Or crypto hater?

Either way, I'm sure you feel that.  That passion for (or against) crypto.

I think you misunderstand.

The tech is questionable with iota but that is secondary to the manipulation and collusion scams running in crypto. The love of crypto the hate of crypto is mainly based upon the love and hate of the schemes and scams. I mean why would you love or hate technology and advancements in the crypto arena If iota is useful it would have reached this cap with natural market forces eventually but it would not have gone from 1M to 2B in one jump on one exchange distributed narrowly to small small minority of this board compared to the far wider distribution of other ico projects on this board.

The tech itself to me is not the main issue. Until someone breaks it and proves they can once the training wheels are taken off then for me it is unknown. For me at this time nobody really knows but the longer these training wheels stay on then the less likely it looks it can function without it.

 I want to see the training wheels come off and then someone break it. If they can't break it then saying it does not work is not good enough for me. I have heard for years POS is broken but nobody has broken any big pos coin to my knowledge. Theoretically many things are possible that will never happen I like to see these possible things take place to demonstrate they are actually possible. Although those investing before the training wheels are taken off and people have some time to break it are huge risk takers at this cap.

Of course I will be more than happy if someone does break it since I don't like terrible narrow distributions that lead to the collusion and market making we are seeing with it now. He pulled it with NXT although honestly that was a first for icos so could be a special case and it is still going now. He pulled it again although I warned it would happen days after the iota ico finished. To me he can create some interesting things I don't doubt he is smart at all. I just think he believes he can hoodwink all the other people here with the same sort of scheme twice.

Iota is no worse than all of these insta icos that sell out to insiders in 30 seconds. I would like to see them all crushed.

Initial distribution is key. Coin market cap should be forced to have a different section for those with very narrow initial distributions because their cap is probably false. Coin market cap is the most dangerous website for new investors out there in its current form. They give a false sense of worth and security and they know their metrics are easily manipulated. They need to put more effort into research into the origins of these coins.

[kamikadze69]

I think IOTA is a good coin, but lately I've also heard bad news about the altcoin. so I'm still confused to invest in IOTA.