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Author Topic: IOTA - The gamechanger?  (Read 1731 times)
GP1992
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August 31, 2017, 05:10:45 AM
 #1

Good Morning! I want to talk about this coin and because I think it's going to be a gamechanger in the world of cryptos.

If we look at history we are always interested in developing ways to exchange goods. First we started with barter, a cow in exchange for 100 kilos of bread, everything seemed perfect until someone thought that he did not want 100 kilos of bread but only 10. Did we change a piece of cow? It did not seem like a good idea.

Then the money was born! Which solved this problem, now you could change the cow for its value in coins, (which were of a material resistant to the passage of time and also were scarce). Now the cow could be exchanged for 100 gold coins and with them buy as much bread as you wanted.

Money was with us for a long time, until major events such as world wars caused many countries to abandon gold in order to be able to print real-money tickets, now the only currency with real support was the dollar, backed by the Federal Reserve of USA, full of gold.
But in 1980 the US president also decided to charge the last gold standard and then for the first time we based our concept of value on nothing, the reputation of the banks was the only thing that supported the coins.

But this had its disadvantages, the first is that money was not finite like gold, could be printed infinitely, so there was a problem of real loss of value, what we know as inflation.

Then there was the problem that the owners of the printing machine were governments, all the power in very few hands, no transaction could be validated without going through a bank.

That is why in 2009, just like to the barter, the solution to money arrives! The Bitcoin and blockchain technology.

Bitcoin was able to develop a decentralized and finite currency, just like gold. However bitcoin and blockchain also have problems.

These are scalability, the notion of transaction fees, and the seemingly unavoidable trend toward centralization.

And here is where IOTA appears, which offers?
This currency is one of the first that offers a totally different technology, to begin with we do not have a blockchain, since there are no miners that make blocks and in which to place transactions. The transactions are confirmed by confirming two previous ones, your transactions will be validated by the tangle, which is roughly the blockchain of IOTA. This means that there is no cost for transactions. because there isnt miners to incentive.

Then there is the issue of scalability, in the blockchain the scalability is limited to the number of transactions that enter by block and the speed that these are undermined. In IOTA there is no concept of blocks, each new transaction that validates two older transactions, so that the bottleneck of the network is network activity. If there are few new incoming transactions, the older transactions will not be validated.

This is currently a problem however this is diluted as the number of users increases, ie IOTA scales naturally over time, while Bitcoin and blockchain in general need modifications in block size or frequency to maintain a reasonable approved transaction time, in addition this limitation also affects the cost of the commissions.

Well this is my post about IOTA. I want to share with you the knowledge of this wonderful coin and discuss it.

Hear more about IOTA here!
The block chain is the main innovation of Bitcoin. It is the first distributed timestamping system.
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August 31, 2017, 06:16:42 AM
 #2

Yes Iota is looking like a game changer but I think it still needs time to rise. Their slack account has more than 20000 members and also they are organising a largest mobility conference this year. Tangle technology is also looking good. But one thing I don't understand why is this coin not listed on Bittrex or any other top crypto exchanges?

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August 31, 2017, 06:28:47 AM
 #3

The coin is not listed on many exchanges because of the udnerlying technology that needs to be implemented. It is easier to add Tokens that run already existing blockchains. It has been announced by the IOTA team that more exchanges are comming soon.
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August 31, 2017, 06:38:03 AM
 #4

The coin is not listed on many exchanges because of the udnerlying technology that needs to be implemented. It is easier to add Tokens that run already existing blockchains. It has been announced by the IOTA team that more exchanges are comming soon.
I think it is quite a task for exchanges to adapt to handling the tangle network, I saw recently on slack that Bitpanda will be adding IOTA but not too sure of when.  IOTA is exciting.

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August 31, 2017, 06:44:04 AM
 #5

IOTA - The Scam changer, a better name for your topic to consider.

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August 31, 2017, 06:54:15 AM
 #6

Super bullish on IOTA. As soon as it manages to hit exchanges, I expect it to make some big waves

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August 31, 2017, 07:16:00 AM
 #7

IOTA - The Scam changer, a better name for your topic to consider.
If you can take the time to write here why you think this, instead of just writing scam it would be a better comment. So please try again!
Ty
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August 31, 2017, 07:30:00 AM
 #8

IOTA - The Scam changer, a better name for your topic to consider.
If you can take the time to write here why you think this, instead of just writing scam it would be a better comment. So please try again!
Ty

Your ignorance will put you in a grave someday.

1) IOTA doesn't have a blockchain. It is not a currency nor it is not a crypto.
2) IOTA is FULLY premined, just two years ago this was enough for people to put red flags.
3) IOTA already has 2,779,530,283,000,000 coins, not distributed almost at all.
4) IOTA had a ICO, this solo is enough to put a red flag on this shit, not even a shitcoin.
5) IOTA is highly centralized, this solo is enough to put a red flag and mark it as a scam.

Good luck, "investors" shills and ignorants.

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August 31, 2017, 07:37:29 AM
 #9

I never heard such a coin as good as IOTA. Zero fees, fast transactions and inifinite scalability is a game changing technology indeed. Let's see how this innovative tech will evolved in the future.
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August 31, 2017, 08:20:24 AM
 #10

If IOTA was such a game changer, it would have changed the game by now. As this didn't happen I call vaporware. We have far to many coins who's underlying tech solely exists in a whitepaper.

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August 31, 2017, 08:53:50 AM
 #11

There is a bit of a buzz around IOTA for sure and as the comments above ask,
why is it not available for trading on the big exchanges now?

IOTA - The Scam changer, a better name for your topic to consider.
If you can take the time to write here why you think this, instead of just writing scam it would be a better comment. So please try again!
Ty

Your ignorance will put you in a grave someday.

1) IOTA doesn't have a blockchain. It is not a currency nor it is not a crypto.
2) IOTA is FULLY premined, just two years ago this was enough for people to put red flags.
3) IOTA already has 2,779,530,283,000,000 coins, not distributed almost at all.
4) IOTA had a ICO, this solo is enough to put a red flag on this shit, not even a shitcoin.
5) IOTA is highly centralized, this solo is enough to put a red flag and mark it as a scam.

Good luck, "investors" shills and ignorants.

If this is the case posted above, then to me it does not look at all as appetising as before !
But what will happen is people will still buy into this as soon as it is available on exchanges
in order to "get rich quick"

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HardFireMiner
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August 31, 2017, 09:03:24 AM
 #12

There is a bit of a buzz around IOTA for sure and as the comments above ask,
why is it not available for trading on the big exchanges now?

IOTA - The Scam changer, a better name for your topic to consider.
If you can take the time to write here why you think this, instead of just writing scam it would be a better comment. So please try again!
Ty

Your ignorance will put you in a grave someday.

1) IOTA doesn't have a blockchain. It is not a currency nor it is not a crypto.
2) IOTA is FULLY premined, just two years ago this was enough for people to put red flags.
3) IOTA already has 2,779,530,283,000,000 coins, not distributed almost at all.
4) IOTA had a ICO, this solo is enough to put a red flag on this shit, not even a shitcoin.
5) IOTA is highly centralized, this solo is enough to put a red flag and mark it as a scam.

Good luck, "investors" shills and ignorants.

If this is the case posted above, then to me it does not look at all as appetising as before !
But what will happen is people will still buy into this as soon as it is available on exchanges
in order to "get rich quick"

Yes, this is exactly what the developers expect - to gain traction and to get some ignorants into buying it while the developers and early adopters (same people) will dump it hard.

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GP1992
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August 31, 2017, 11:13:08 AM
 #13

IOTA - The Scam changer, a better name for your topic to consider.
If you can take the time to write here why you think this, instead of just writing scam it would be a better comment. So please try again!
Ty

Your ignorance will put you in a grave someday.

1) IOTA doesn't have a blockchain. It is not a currency nor it is not a crypto.
2) IOTA is FULLY premined, just two years ago this was enough for people to put red flags.
3) IOTA already has 2,779,530,283,000,000 coins, not distributed almost at all.
4) IOTA had a ICO, this solo is enough to put a red flag on this shit, not even a shitcoin.
5) IOTA is highly centralized, this solo is enough to put a red flag and mark it as a scam.

Good luck, "investors" shills and ignorants.

Please. Read the Whitepaper. Or hear the video. The Unique scam here is your argument.
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August 31, 2017, 11:29:01 AM
 #14

IOTA - The Scam changer, a better name for your topic to consider.
If you can take the time to write here why you think this, instead of just writing scam it would be a better comment. So please try again!
Ty

Your ignorance will put you in a grave someday.

1) IOTA doesn't have a blockchain. It is not a currency nor it is not a crypto.
2) IOTA is FULLY premined, just two years ago this was enough for people to put red flags.
3) IOTA already has 2,779,530,283,000,000 coins, not distributed almost at all.
4) IOTA had a ICO, this solo is enough to put a red flag on this shit, not even a shitcoin.
5) IOTA is highly centralized, this solo is enough to put a red flag and mark it as a scam.

Good luck, "investors" shills and ignorants.

Please. Read the Whitepaper. Or hear the video. The Unique scam here is your argument.

Why should I read it? I better mock you here rather than read a scam's whitepaper.

Just tell me, address my points:
1.Does IOTA has a blockchain? A cryptocurrency is defined by a blockchain!
2. Isn't IOTA fully premined? Is IOTA minable?
3. Aren't all the coins already in circulation? Doesn't this mean that it has 0.00001% of bitcoin's distribution?
4. ICO = scammy distribution. Did IOTA had a ICO or not?
5. Isn't the development of IOTA centralized? Are you able to contribute to it's development directly? Do you have access to their source code?

Where is the scam in these concerns? Why are you playing dumb? Are you dumb or a payed shill?

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GP1992
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August 31, 2017, 11:49:17 AM
 #15

Quote
IOTA doesn't have a blockchain. It is not a currency nor it is not a crypto.

The definition of Cryptocurrency is a digital coin that use cryptography to secure the transactions.

IOTA have cryptography. A blockchain is not a requeriment to be a Cryptocurrency.

Quote
IOTA is FULLY premined, just two years ago this was enough for people to put red flags.

What is the reason to put red flags for this? Everything pre mined currency is a scam for you?

Quote
5. Isn't the development of IOTA centralized? Are you able to contribute to it's development directly? Do you have access to their source code?

https://github.com/iotaledger

Your arguments looks like a trolling. Is hard take your arguments seriously.

I'm a IOTA holder off Course. Actually also run a full node 24/7. Im all in this proyect.







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August 31, 2017, 12:34:46 PM
 #16

The coin is not listed on many exchanges because of the udnerlying technology that needs to be implemented. It is easier to add Tokens that run already existing blockchains. It has been announced by the IOTA team that more exchanges are comming soon.
I think it is quite a task for exchanges to adapt to handling the tangle network, I saw recently on slack that Bitpanda will be adding IOTA but not too sure of when.  IOTA is exciting.
Yes, IOTA is a true major innovation in the world of cryptocurrency. No fees, graph decentralization and instant transactions. And yet, because of it being so different from others, I believe it truly faces problems. Exchangers are not adding it a lot, probably because of technology differences, just like you said. Add to that the issues with wallets showing zero balance. IOTA needs time to be acknowledged and improved.


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August 31, 2017, 12:40:56 PM
 #17

IOTA will increase to September, so now It's time to buy It, how I think
HardFireMiner
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August 31, 2017, 12:48:36 PM
 #18

Quote
IOTA doesn't have a blockchain. It is not a currency nor it is not a crypto.

The definition of Cryptocurrency is a digital coin that use cryptography to secure the transactions.

IOTA have cryptography. A blockchain is not a requeriment to be a Cryptocurrency.

Quote
IOTA is FULLY premined, just two years ago this was enough for people to put red flags.

What is the reason to put red flags for this? Everything pre mined currency is a scam for you?

Quote
5. Isn't the development of IOTA centralized? Are you able to contribute to it's development directly? Do you have access to their source code?

https://github.com/iotaledger

Your arguments looks like a trolling. Is hard take your arguments seriously.

I'm a IOTA holder off Course. Actually also run a full node 24/7. Im all in this proyect.




Yes, everything premined is a scam and against the main principles of cryptocurrencies.
And yes also, there is no crypto without a blockchain, your centralized shitcoin will be just another (not even in the first 10 shitcoins without a blockchain) dead scam that claims to be a crypto without a blockchain.

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August 31, 2017, 02:06:00 PM
 #19

IOTA - The Scam changer, a better name for your topic to consider.
If you can take the time to write here why you think this, instead of just writing scam it would be a better comment. So please try again!
Ty

Your ignorance will put you in a grave someday.

1) IOTA doesn't have a blockchain. It is not a currency nor it is not a crypto.
2) IOTA is FULLY premined, just two years ago this was enough for people to put red flags.
3) IOTA already has 2,779,530,283,000,000 coins, not distributed almost at all.
4) IOTA had a ICO, this solo is enough to put a red flag on this shit, not even a shitcoin.
5) IOTA is highly centralized, this solo is enough to put a red flag and mark it as a scam.

Good luck, "investors" shills and ignorants.

Some good points there:

1) IOTA doesn't have a blockchain. It is not a currency nor it is not a crypto.

Correct! A blockchain is just one chain, but DAG (Tangle) is infinite parallel chains = another dimension added to bitcoin.  Yes, we all agree with you that IOTA should have it's own coinmarketcap.com website showing all the DAG clones beneath it that have started coming out of the woodwork just like all the Bitcoin clones did after blochchain tech was launched.  You are absolutely right that IOTA is in a league of its own.  Anything exchangeable is acting as a currency (yes some function better than others), and IOTA's quantum proof cryptography can be shortened to the term "crypto".  

2) IOTA is FULLY premined, just two years ago this was enough for people to put red flags.

Correct! Yes, it is called an ICO.

IOTA was launched as a typical ICO just like Ethereum, and many ICO's.  ICO launches are very common in crypto.

3) IOTA already has 2,779,530,283,000,000 coins, not distributed almost at all.

Correct! All coins were distributed in the ICO, if you missed the ICO then you can purchase 1,000 of them for less than a buck US.  So yes, at a current exchange rate of a buck for 1 thousand IOTA, you are correct that IOTA is EXTREMELY CHEAP right now compared to what most coins cost (these coins are 10 grand a piece: https://coinmarketcap.com/currencies/42-coin/ ).  IOTA does need help distributing their coins, which is why you get a thousand for a buck (so you can distribute them liberally everyehere).

4) IOTA had a ICO, this solo is enough to put a red flag on this shit, not even a shitcoin.

Correct! Just like Ethereum had an ICO

5) IOTA is highly centralized, this solo is enough to put a red flag and mark it as a scam.

Correct! Every coin is highly centralized on one single planet.




That's the point of ICO coins /tokens age issued only once. This ensures optimum availability


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GP1992
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August 31, 2017, 04:31:05 PM
 #20

If IOTA was such a game changer, it would have changed the game by now. As this didn't happen I call vaporware. We have far to many coins who's underlying tech solely exists in a whitepaper.

I think that the reason why IOTA isnt fucking everything right now is by the nature of his protocol.

give me explain you, IOTA is a p2p system, like everything p2p system this become faster while more is used.

IOTA actually only have two months of activity in a single exchange (Bitfinex), es very premature.

I recomend you hear and look the video that i put on the bottom of main mensaje, may be more enlightening.
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