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Author Topic: Is IOTA a scam?  (Read 299 times)
pylus10
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December 13, 2018, 02:44:23 PM
 #1

I read a post in this site, but the IOTA OP doesn't bother to answer. The post is:

During the crowdsale in Nov/Dec 2015, about 0.5M USD were raised (or 3M, doesn’t make a big difference)
* Until listing on Bitfinex in June 2017, IOTA was traded OTC
* The initial market cap on June 13 was roughly 1.7B USD (https://coinmarketcap.com/currencies/iota/historical-data/?start=20130428&end=20171117)
* The week before, there were roughly 5000 addresses with a positive balance (https://medium.com/@IngoFiedler_96862/iota-an-update-on-token-distribution-and-exchange-launch-ee3e56bd0d32)

Hence, each of the addresses’ owners invested on average 340K USD. How can that be even if some of them invested let’s say 1M USD or more?
(Link: https://bitcointalk.org/index.php?topic=1262688.1660)


Also, I found this interesting comment in reddit:



IOTA was listing on CMC at #7 with over billion in market cap despite an ICO that raised only $10m. ICO price was $0.002, listing price was $0.67. This return of 250,000% is the highest for any crypto coin.
Apparently IOTA shills will tell you it was "traded on slack channel" and thus no records exist of the trades during this period - well that doesnt explain the 250,000% gain does it? It could be atleast explained if there was a product, but IOTA did not even have a product from ICO till listing. (Dec 2017 till listing on finex). Who will trade shitcoins at a 250,000% premium when the coin does not even have a product?
Ever since IOTA listed on finex, it has been going down (apart from a fake microsoft partnership pump) and today is much lower than its listing price. And it will continue to go down, as its value has been marked up fraudulently by its promoters by listing it at a huge market cap despite collecting only a tiny fraction in the ICO.



Anyone has the answer for this one? Is it a scam?

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ChiNgadOr
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December 13, 2018, 03:06:30 PM
 #2

It is a serious claim what you are doing right now.. I dont think IOTA is a scam, it seems a solid project to me. As fas as i remember thay had some security issues, and there wasnt any reliable wallet for their tokens.. regarding price, with this huge supply it is very difficult to have a high price/token.. if you bought when it was at ATH (nealry 6$) you probably must be very dissapointed...

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December 13, 2018, 05:38:40 PM
Last edit: December 13, 2018, 10:44:55 PM by generalizethis
 #3

No, the crowdsale netted 500k and when it first traded on exchanges, those same coins sold for >1 billion--not sure why that's hard to follow. Anyone mentioning the Microsoft partnership is probably a troll given it's well documented that a Microsoft employee gave the IOTA Foundation the media that said "partnership" and it was his fault any discrepancy took place. Also, it's pretty amazing that trolls continue to parade that argument when partnerships with Bosch, VW, the UN, the city of Taipei and many more are well documented. As always DYOR.



List of sources for partnerships, affiliates and interested parties: http://iotaarchive.com/

Crowdsale factsheet: https://factsaboutiota.wordpress.com/crowdsale/

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December 13, 2018, 06:42:56 PM
 #4

I suppose there are other examples, more credible ones, to "shitcoin" about. IOTA is a legit project supported by a number of reputable partnerships. So calling it a scam looks a bit like a far-fetched conspiracy theory to me, no offense
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December 13, 2018, 07:10:55 PM
 #5

So, I don't see reasons why IOTA would be a scam. It is not the worst or weak coin in market. Big and perspective projects would not be scums, I think.

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December 13, 2018, 07:47:55 PM
 #6

I'm not a fan of IOTA but I'm sure there's alot false information going on this days in the crypto market which crypto capital market was also accused of last year. However, we still cant decide IOTA a scam until the right information and evidence are find about the project.

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Oniko
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December 13, 2018, 08:31:55 PM
 #7

I think in the coming year many coins will disappear that do not have a good team and were made for fraud.

Nevertheless, I believe that serious people stand behind IOTA (MIOTA)
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December 13, 2018, 10:12:01 PM
 #8

Very interesting time we are currently living. Crypto community is getting smarter and smarter, while the market is dropping and questioning even all the big projects.
I really liked IOTA before, but currently, I doubt in its transparency. As a solution, I prefer HDAC, kind of similar idea to IOTA. Not that much-hyped yet, but they are behind Hyundai.

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December 13, 2018, 10:15:07 PM
 #9

To argue that it is a Scam or not I do not undertake. But it seems to think that this is a good coin, but anything can happen that what seems at first a good is in fact bad.

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December 16, 2018, 08:34:13 PM
 #10

I read a post in this site, but the IOTA OP doesn't bother to answer. The post is:

During the crowdsale in Nov/Dec 2015, about 0.5M USD were raised (or 3M, doesn’t make a big difference)
* Until listing on Bitfinex in June 2017, IOTA was traded OTC
* The initial market cap on June 13 was roughly 1.7B USD (https://coinmarketcap.com/currencies/iota/historical-data/?start=20130428&end=20171117)
* The week before, there were roughly 5000 addresses with a positive balance (https://medium.com/@IngoFiedler_96862/iota-an-update-on-token-distribution-and-exchange-launch-ee3e56bd0d32)

Hence, each of the addresses’ owners invested on average 340K USD. How can that be even if some of them invested let’s say 1M USD or more?
(Link: https://bitcointalk.org/index.php?topic=1262688.1660)


Also, I found this interesting comment in reddit:



IOTA was listing on CMC at #7 with over billion in market cap despite an ICO that raised only $10m. ICO price was $0.002, listing price was $0.67. This return of 250,000% is the highest for any crypto coin.
Apparently IOTA shills will tell you it was "traded on slack channel" and thus no records exist of the trades during this period - well that doesnt explain the 250,000% gain does it? It could be atleast explained if there was a product, but IOTA did not even have a product from ICO till listing. (Dec 2017 till listing on finex). Who will trade shitcoins at a 250,000% premium when the coin does not even have a product?
Ever since IOTA listed on finex, it has been going down (apart from a fake microsoft partnership pump) and today is much lower than its listing price. And it will continue to go down, as its value has been marked up fraudulently by its promoters by listing it at a huge market cap despite collecting only a tiny fraction in the ICO.



Anyone has the answer for this one? Is it a scam?



well
i also have a same opinion like other
we cant say IOTA scam because it
if u know
ETH also called big scam coin too
also TRX just a big game of whales
how about DOGE
did u know at the beginning DOGE just like a joke coin ?
but now,its different

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December 17, 2018, 02:54:19 AM
 #11

it looks like IOTA is not a scam but maybe this is the effect of the fall in the price of bitcoin, you should see when the price of bitcoin falls then the price of all other cryptocurrency also falls.

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December 17, 2018, 03:04:49 AM
 #12

Very interesting time we are currently living. Crypto community is getting smarter and smarter, while the market is dropping and questioning even all the big projects.
I really liked IOTA before, but currently, I doubt in its transparency. As a solution, I prefer HDAC, kind of similar idea to IOTA. Not that much-hyped yet, but they are behind Hyundai.

Is IOTA a scam? Do you think so? I do not think that they cheat, we should trust each other and we should be sincere and trust, trust will take wing for your dreams.  IOTA  not a scam

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December 17, 2018, 05:16:16 AM
 #13

I read a post in this site, but the IOTA OP doesn't bother to answer. The post is:

During the crowdsale in Nov/Dec 2015, about 0.5M USD were raised (or 3M, doesn’t make a big difference)
* Until listing on Bitfinex in June 2017, IOTA was traded OTC
* The initial market cap on June 13 was roughly 1.7B USD (https://coinmarketcap.com/currencies/iota/historical-data/?start=20130428&end=20171117)
* The week before, there were roughly 5000 addresses with a positive balance (https://medium.com/@IngoFiedler_96862/iota-an-update-on-token-distribution-and-exchange-launch-ee3e56bd0d32)

Hence, each of the addresses’ owners invested on average 340K USD. How can that be even if some of them invested let’s say 1M USD or more?
(Link: https://bitcointalk.org/index.php?topic=1262688.1660)


Also, I found this interesting comment in reddit:



IOTA was listing on CMC at #7 with over billion in market cap despite an ICO that raised only $10m. ICO price was $0.002, listing price was $0.67. This return of 250,000% is the highest for any crypto coin.
Apparently IOTA shills will tell you it was "traded on slack channel" and thus no records exist of the trades during this period - well that doesnt explain the 250,000% gain does it? It could be atleast explained if there was a product, but IOTA did not even have a product from ICO till listing. (Dec 2017 till listing on finex). Who will trade shitcoins at a 250,000% premium when the coin does not even have a product?
Ever since IOTA listed on finex, it has been going down (apart from a fake microsoft partnership pump) and today is much lower than its listing price. And it will continue to go down, as its value has been marked up fraudulently by its promoters by listing it at a huge market cap despite collecting only a tiny fraction in the ICO.



Anyone has the answer for this one? Is it a scam?


That's obviously a shit coin dude. when i was seeing your latest quote from reddit and that makes me clear of IOTA has been doing a lot of manipulation on its price.
No product and it can gain up to 250k percent return. it's not even the first DAG platform.


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leea-1334
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December 17, 2018, 05:25:00 AM
 #14

Well, IOTA has done quite a lot of manipulation in the past. I remember they even lied and made up partnership stories but in the end they had to apologize and take back their statements,,, but so have other coins like Ethereum EOS and even XRP,,, which is why I have never trusted either of them. Does being bad in the past and doing manipulative behavior mean they are a scam? I guess not so, but maybe it means we should not trust them.

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December 17, 2018, 06:38:52 AM
 #15

And how many such scams besides this. The market is overflowing with them, and such a downturn is the result of a glut of fraudsters.
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December 17, 2018, 07:29:07 AM
 #16

as we know IOTA is moving in the field of the global community to move the economy on IOta itself I think the coin that has been there for 3 years is why I have to scam !! they should have done it from the start, after all he was in the 13th rank for CMC experts would know and understand if an ICO was a scam

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December 26, 2018, 01:33:01 AM
 #17

I cannot suspect that IOTA scam for any reason, what underlies you mentions that IOTA is a scam, you need to be patient. everything cannot be done in an easy way all of which requires a process.

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December 26, 2018, 06:36:04 AM
 #18

I read a post in this site, but the IOTA OP doesn't bother to answer. The post is:

During the crowdsale in Nov/Dec 2015, about 0.5M USD were raised (or 3M, doesn’t make a big difference)
* Until listing on Bitfinex in June 2017, IOTA was traded OTC
* The initial market cap on June 13 was roughly 1.7B USD (https://coinmarketcap.com/currencies/iota/historical-data/?start=20130428&end=20171117)
* The week before, there were roughly 5000 addresses with a positive balance (https://medium.com/@IngoFiedler_96862/iota-an-update-on-token-distribution-and-exchange-launch-ee3e56bd0d32)

Hence, each of the addresses’ owners invested on average 340K USD. How can that be even if some of them invested let’s say 1M USD or more?
(Link: https://bitcointalk.org/index.php?topic=1262688.1660)


Also, I found this interesting comment in reddit:



IOTA was listing on CMC at #7 with over billion in market cap despite an ICO that raised only $10m. ICO price was $0.002, listing price was $0.67. This return of 250,000% is the highest for any crypto coin.
Apparently IOTA shills will tell you it was "traded on slack channel" and thus no records exist of the trades during this period - well that doesnt explain the 250,000% gain does it? It could be atleast explained if there was a product, but IOTA did not even have a product from ICO till listing. (Dec 2017 till listing on finex). Who will trade shitcoins at a 250,000% premium when the coin does not even have a product?
Ever since IOTA listed on finex, it has been going down (apart from a fake microsoft partnership pump) and today is much lower than its listing price. And it will continue to go down, as its value has been marked up fraudulently by its promoters by listing it at a huge market cap despite collecting only a tiny fraction in the ICO.



Anyone has the answer for this one? Is it a scam?



no it is not.
they have good partnerships and good tech and good team behinf project.

i have iota and i wont sell them until it reached 10 dollar.

they will be in top 5 in 3 years
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December 26, 2018, 08:54:57 AM
 #19

IOTA isn't s scam 100%, but people sometimes want to believe in miracles) And their hopes are not IOTA problems. Price of IOTA sometimes goes to some unbelievable levels and this is just because of speculations of traders.

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December 26, 2018, 01:44:57 PM
 #20

IOTA isn't s scam 100%, but people sometimes want to believe in miracles) And their hopes are not IOTA problems. Price of IOTA sometimes goes to some unbelievable levels and this is just because of speculations of traders.
This is one of the most logical and well-informed response. IOTA is not a scam based on what I've bothered to look up so far - more or less a victim of speculations and a few powerful holders shaking up the market ahead of projected development.
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