Daily reminder about IOTA:

Daily reminder about IOTA:

- The foundation can change the balance of ANY address, when they're between snapshots
- The foundation is preventing 20,000 addresses from withdrawing their balance. This happened before the BTG fork and continues to this day, they won't let users have access to their funds until after Bitcoin2x.
- Massive censorship on the official subreddits
- No priority on a good wallet. The current wallet is arguably the reason the 20k addresses can't be withdrawn, because of shitty engineering practices causing a bug/vulnerability.
- The foundation does't give a fuck about what you want. They have their hundreds of millions already and aren't listening to outside input.

It's frustrating but this is where we are.

Other urls found in this thread:

reddit.com/r/Iota/comments/78zjsx/get_your_balance_back_how_to_3_simple_steps/
medium.com/@mistywind/iota-cofounder-sergey-ivancheglo-aka-come-from-beyonds-responses-to-the-ongoing-fud-about-so-ea3afd51a79b
reddit.com/r/Iota/comments/78zjsx/get_your_balance_back_how_to_3_simple_steps
blog.iota.org/gui-v2-5-2-latest-release-with-iota-reclaim-tool-32d364d6241a
blog.chain.com/a-letter-to-jamie-dimon-de89d417cb80
en.wikipedia.org/wiki/Nxt
digiconomist.net/bitcoin-energy-consumption
en.wikipedia.org/wiki/Bitcoin
twitter.com/NSFWRedditGif

WE

Like DAG? Go Byteball.

>we're in mumbai shitting on a street
nope, just you, pajeet.

L O L

how is the "foundation" preventing withdrawals and why does it have anything to do with shitcoin forks?

It's a centralized system, masquerading as a decentralized currency.

reddit.com/r/Iota/comments/78zjsx/get_your_balance_back_how_to_3_simple_steps/ this thread explains it.

Before BTG the "tangle was under attack", so they froze the balance of 20k addresses (the two links cited on that page). Go ahead and cross-reference any of the addresses in a blockchain explorer, they have a zero balance currently.

:- )


>>IOTA

#p r o s:
*zero transaction fees
*tangle = no blockchain to download
*back up: the seed is enough, accessing balance easily from every trusted computer
*more transactions and network spam makes the network stronger
*dev team seems to be diligent and industrious (and yes they are humans and humans have emotions)
*open source (the coordinator is not open, but it will be deactivated, when there is enough transaction traffic)
*the supposed "iota-bug" by Neha Narula (MIT) was intended misinformation and market manipulation
(Narula’s team provided no new information to the IOTA team. Security of the IOTA signature scheme relies on one-wayness of the hash function which was not broken, despite of the attempts to do so. Members of Neha Narula’s team have a vested interest in multiple projects that are in direct competition with IOTA; more infos medium.com/@mistywind/iota-cofounder-sergey-ivancheglo-aka-come-from-beyonds-responses-to-the-ongoing-fud-about-so-ea3afd51a79b )

>- The foundation is preventing 20,000 addresses from withdrawing their balance.

source?

...

ARE

>No priority on a good wallet. The current wallet is arguably the reason the 20k addresses can't be withdrawn


their priority is about "machine to machine"-payments: so, there is no need for a "good" wallet for humans, the 20k-wallets should have patience

>*zero transaction fees

Yes this is one of IOTA's benefits

>*tangle = no blockchain to download

Wut. This is a half truth, you need the "light wallet" and rely on somebody else's server to get this.

>*back up: the seed is enough, accessing balance easily from every trusted computer

Haha, tell that to the thousands of people with locked funds in this situation

>*more transactions and network spam makes the network stronger

True, if they fix the algorithms on which transactions to confirm first. TXes can still take hours because this is unoptimized

>*dev team seems to be diligent and industrious (and yes they are humans and humans have emotions)

Uhh.. You lost me here. Aside from CFB they aren't anything special.

>*open source (the coordinator is not open, but it will be deactivated, when there is enough transaction traffic)

Booby-trapped open source. They have vulns to stop people from cloning it.

>*the supposed "iota-bug" by Neha Narula (MIT) was intended misinformation and market manipulation

Can't argue this, Neha sucks

---
IOTA does have good things, but the foundation is toxic as fuck

i understand their shitty "coordinator" bullshit, i'm just curious what it has to do with chinkcoins like bgold.

i have little hope these graph based chains will thrive under these developers. they've had this coin going for over 2 years now and they still haven't figured out how to make it work, but they released it anyway.

byteball is shit too, shitty client, and theyre not even using the tech in an interesting way, just trying to be another "store of value" coin, which are all doomed to fail at this point.

with sharding i'm not sure their "next gen" blockchain is that interesting anyway.

and i love how everyone in that thread is talking about a "low price", ignoring that it's up 1000x+ from the ico.

>reddit.com/r/Iota/comments/78zjsx/get_your_balance_back_how_to_3_simple_steps

thank you;
I remember, that because of the bug they protected some accounts by transferring the iotas to controlled accounts and you can reclaim your iotas with the so called "reclaim process" - explained here:
blog.iota.org/gui-v2-5-2-latest-release-with-iota-reclaim-tool-32d364d6241a

I think now there is even a newer client-version 2.5.3,

so have patience and try the reclaim process

>*tangle = no blockchain to download
>Wut. This is a half truth, you need the "light wallet" and rely on somebody else's server to get this.

yes, that could be; I wish I would understand better the differences between tangle and blockchain

Actually, the reclaim process is a farce.

Let me explain, it's "2 phases".

The first phase is useless. The second phase gives you your money back.

The foundation hasn't released phase 2 and have been delaying it. You won't see P2 until after Bitcoin2x, I guarantee it.

#c o n s:
*still in development: to receive a transaction you must "attach the tangle" in the software and yes it needs minutes till hours
(after wallet update last time it took 32 tangle-attachings!)

the main difference is that a blockchain is global, everybody sees the same thing. in a tangle you don't, so even just checking your balance is a complicated process, because if you're connected to another network inside the network, nobody knows what your balance is.

>Bitcoin2x
have you an idea why this is connected to Bitcoin2x?

>The foundation hasn't released phase 2 and have been delaying it.

I understand that this situation is depressing.

If I would have lot of $cryptocurrencies - I would have splitted accounts

so if an account is compromised/censored I have the other ones

Yep, which is why I'm out.

Ok, I'll spell this out for you.

They are holding funds to stop IOTA from dumping.

So you can choose to believe this is either a HUGE coincidence that they locked funds before BTG and are conveniently releasing them "weeks from now", or the what I said above.

by the way

super article about understanding cryptocurrencies

blog.chain.com/a-letter-to-jamie-dimon-de89d417cb80

>Haha, tell that to the thousands of people with locked funds in this situation

Those people re-used addresses which lowered the security of their addresses. The foundation temporarily locked the funds so that nobody else could steal them due to reduced security. They are doing them a favor.

This guy fucks

I know this is what they communicated, but consider the following:

- The only reason addresses were reused was because of the shitty MVP wallet failing all the time. It was very common to have to retry transactions.

- They are choosing to wait to release funds. They've been holding them for weeks now, why is it taking so long to return them.

This is a favor??? Come on now.

WE ARE THE IODIOTS!!!

AND WE ARE NOT FUCKING SELLING (because we can't)

Aha.

CfB, the scammer of Nxt and iota main dev, was told his shitty Curl function has flaws, on bitcointalk by several users 1 year back.

Fucking pajeet bagholder go scam old people.

CFB is the only thing good about IOTA.

It pains me to make this thread pointing out their corruption, but I stand with CFB. He's the unicorn of the project.

thats a good hint;

by the way I had some seeds with reused adresses and the "accounts" weren't "paralysed/frozen" - I transferred later all iotas myself and never will reuse the same receiving adress.

Kek

...

That guy intended to make his own hash function and digital signature scheme.

People told him look kid differential cryptanalysis 1 year back. Now he claims he knew it all along that it was a boobytrap, yet had to hardfork upgrade the network to sha3.

He is a master liar and egomaniac like the rest of iota.

Look at him posting in the Byteball thread, FUDding like a kid, and getting smacked down by random people and Byteball dev.

Just a reminder that Iota is going to be by far the most widely used cryptocurrency in 3-5 years. Just take a look at the pros and cons and it's simple to see.

Pros:
No fees
Very minimal POW
Instant transactions
No centralized mining pools
Micro transactions & other small transactions
Infinitely scalable
Already partnered with Bosch & many other companies who have all agreed to use Iota specifically.

Cons:
There is a coordinator protecting the network
The developers can be a little mean sometimes

>That guy intended to make his own hash function and digital signature scheme.

Yes. He is also a Vitalik-level crypto dev (hence a unicorn). He is insanely smart, and if he thinks we need this I trust him. They have the money now (and are) hiring top crypto consultants to fix/improve it.

>People told him look kid differential cryptanalysis 1 year back. Now he claims he knew it all along that it was a boobytrap, yet had to hardfork upgrade the network to sha3.

He demonstrated doing the same thing with NXT in the past, and he wrote about this as a viable means of copy protection, many years ago. I believe him that this was premeditated.

>He is a master liar

I don't believe this, but am open to suggestion if you have proof.

Pros are a bunch of empty promises, like a dream wishlist when writing to Santa Claus.

Reality is, iota does not even have a consensus algorithm to begin with.

>Instant transactions
Wrong. This is coming from somebody using IOTA since it was only on YDX. I explain earlier in the thread why this is untrue.

Cons:
>see rest of thread

>Pros are a bunch of empty promises, like a dream wishlist when writing to Santa Claus.

Except for the fact that they are already true. The only one that hasn't been shown is the infinite scalability and that will be proven over time.

Look at his posts in the Byteball thread for proof.

If that guy is considered genius in cryptospace, and indeed what iota is, we are in a very very sad world.

The copy protection btw was claimed to be the Coordinator, without which IOTA would be worth 0 dollars according to CfB in ADK thread.

I agree he is very genius, genius in manipulation and deceit, he writes in a way which whatever he says, can never be refuted.

Not sure about you but every Iota transaction I've done has been completed within 1 minute. The only thing that takes time right now is exchange withdrawals and deposits which is due to the exchanges themselves being slow, not Iota.

TO ALMOST ALL POSTERS OF THIS THREAD:

thank you guys, this is one of the very few /biz-threads with some valuable informations and a good discussion-culture

i used to support this project, but i really can't.
I like the DAG, but its way too early to see if it actually works.
They tangle went offline for 3 days and IOTArds acted as if nothing happened.

sorry, I can't confirm this with lightwallets

direct transaction: 2/3 took like more or less 1h

and after softwareupdates its for me always(!) "a pain in the ass" to "attach to tangle": the maximum was 32 reattachings to see my balance

but this is OK for me, because I know it is still in development

For the record, CFB = BCNext

en.wikipedia.org/wiki/Nxt

He literally created NXT and is the first to do full Proof of Stake.


Fun trivia, CFB might also be a certain mod on r/iota

Just hang tight user. There is going to be a new wallet released soon by the UCL team which will take care of address attachments and such after a snapshot happens.

... and my i5-CPU (Linux system) is as hot as a rocket during "attaching".

The otter problems of IOTA.

Proof-of-Work and IoT.

IoT devices are usually battery powered, industry wants to squel out the last microWatt, last generation of IoT devices, they count nanoWatts to save battery and increase lifetime.

Now come iota devs hurr durr why dont you do PoW, compute intense operation, mother fucking designed to waste electricity. which on IoT device would kill it. Oh.

Then they say but let another device or node do the PoW.

Bitcoin can do that shit today! Sign tx and let miners do it.

Then they say, but we make hardware assist for the PoW on IoT. A chip. Jinn chip.

Fucking retards, I cant even go on.

Besides the PoW as described in whitepaper, and implemented, does nothing at all to secure the transactions today. All security is with Coordinator.

Iots devs cant even explain, since as I said, iota does not have a consensus algorithm.

Its a ponzi scheme like bitconnect.

This is a common criticism but a fair one. There is a good answer for it too:

Specialized IoT devices will have logic on the chip optimized for the transactions. Chipmakers do this all the time for things.

Chips with this optimization will be energy efficient, making this a non-issue.

one bitcoin transaction is consuming
230 kWh

Electricity consumed per transaction (KWh) 232.00

digiconomist.net/bitcoin-energy-consumption

Ive yet to see any evidence for these claims. And ive seen these claims plenty of times.

>They tangle went offline for 3 days


bitcoin 2010:
"On 6 August 2010, a major vulnerability in the bitcoin protocol was spotted. Transactions were not properly verified ..."
en.wikipedia.org/wiki/Bitcoin

Inshallah brother these European men are weak and so are their cryptos. We will take their money and their women

Thanks for reading the rest of the thread before posting this, dipshit

You should try switching to ccurl implementation. I find it takes about 10 seconds or less on my i5-4590. WebGL takes like 10 times longer.

Dont you think, if they open source and make a chip/ic unit which can do PoW of iota very optimized, and uses microWatts of energy. And they become industry wide adoption overcoming integration efforts.

That people wont scale that hardware up and put kiloWatts thru it? How would 1 million microWatt IoT units compete with 2 kiloWatt units.

Hm user?

longterm hold faggots
Iota is the future

Well I agree mining is a problem, energy usage and centralization incentive.

I hate miners.

There are otter DAG coins and concepts which are better, both in implementation, execution and concept than iota.

See Byteball, though it has its problems.

Save your money for blockDAG and/or hashgraph.

And stay away from CfB coins, son.

Oh it's very possible. That's what scares me of when they eventually drop the coordinator, what type of attack vectors will appear.

That said, I think it'll still be very difficult to hurt the network even with that type of power, but we'll see.

>ccurl implementation

Thanks!!
I'll try this!
Yo are right I was with Webgl.

But are there any implication to the balance or transaction behaviour?
(Why it is not pre-settet to ccurl)

have you any source/manual what "switching to ccurl" does?


thanks again

There is no competition like blockchain though so it doesn't matter how efficient or powerful your processor is. You'll just be able to perform POW ever so slightly faster than everyone else with no real advantage.

Unironically this.

I just wanted to dump my 180gi for Bitcoin gains, I liquidated all my alts weeks ago for the same reason. I would have made a lot by now.

I'm sad that the foundation won't let me dump, but my plan was always to buy back my original stake again afterward.

From what I understand it is just a C based implementation of the same thing which makes it more efficient and faster. There is no difference as far as how your transactions will behave, though I have noticed you may occasionally have to re-do the POW if it gives you an error the first time.

No real advantage? Just local double spends or censoring a million IoT devices from transacting, for shitts and giggles?

thank you for your efforts to explain me

I'll try ccurl!

You could theoretically perform a 34% attack but you would still need omnipresence in the network to do it which will become increasingly difficult as the network expands. So no, no real advantage.

Should just keep your iota on bitfinex

Alrighty then, buy more iotas.

Got almost all mine from YDX

never store your stuff in exchanges!

not sure what's up with the Byteball shilling on Veeky Forums today but keep up the good work
i got bags from $600 to $400 (which was ~.3 btc at the time... the pain is real), could use a 10x

Sell it now, it will go lower.

Aint nothn bad dropping dead weight. Dont be deluded like the linkies.

Save what you can and put 10x long on bitcoin.

>shiteball
>just a copy of IOTA but not the first mover
>shilled constantly
shiteball is the dogecoin of DAG if you buy it you deserve the reaming your wallet is about to recieve

IOTA is still in beta to FUD shill, everything you said is true but when the network is large enough to support itself without the central hub and its withdrawn just see what happens.

we all know everything is relative in this ... "market", what you said is true but on the other hand it's down 50% from ATH.

this is unfortunately still true haha