IOTA is fundamentally broken

IOTA is fundamentally broken.
It's a PoW crypto that uses a dag (ok). Hype aside it's a minor change that's equivalent to transaction chains in Lightning Network or Raiden, offering exactly the same advantages (asynchronous) and disadvantages (lower security). Where iota breaks down is assuming a model with everyone mining their own transactions can work.

What PoW means in practice is that cost spent on mining = security. Ie. $100 fees per hour? Spend >$100 (in energy used for mining) to rewind these transactions. It's better with asics as that adds 'has access to asics'.

The reason PoW currencies currently work is because cost is shared among every owner due to inflation - with it, total cost per tx in bitcoin is $81.91. Iota is economically exactly like Bitcoin without any block reward, which requires every transaction to pay a very high fee (in energy used for mining) for any reasonable security.
Firstly, it requires every iota sender to be _able_ to do that - which means high-speed hardware capable of mining and access to required energy. A premise fundamentally incompatible with light IoT devices.
Secondly, the fee market doesn't work due to the free rider problem. Everyone is going to use low fees (=low PoW expenditure) hoping that a high-fee transaction confirms it, or lots of other low-fee tranactions. Which means no high-fee transactions, which means no security at all.

That's why there's a coordinator. It's never going away. The fundamental design is hopelessly broken.

Yet because there's no inflation there's no new supply on the market, ownership is extremely centralized (ie. few whales own almost everything) and few speculators care or understand why iota can't work. So it can moon. Just remember that it's fundamentally a shit product and if you buy you're only looking for a bigger fool.

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answers.thenextweb.com/s/dominik-schiener-and-david-sonstebo-d0XXq0
twitter.com/AnonBabble

IOTA is a pump and dump scam.

>muh Microsoft/something else/ partnership

These companies like the coordinator idea because they envision themselves in that position, charging fees for use. That absolutely doesn't mean it's going to be profitable for iota holders - at best, they are going to use iota's _code_ for their private network, with pointless PoW yanked out, rather than the current public iota network.

Yep wait till hashgraph comes out

There is no formal proof of iota's security. We have no outline for when the coo will be removed, and if the transactions per second ever dip without the coo the tangle will be vulnerable to sybil attack. I can't wait for hashgraph to kill this shitcoin

This doesnt seem like a thinly veiled shill thread at all...

it'll probably still go up because people don't care about centralization. it's just laughable that they claim to be infinitely scalable when all they did is remove decentralization entirely

everything is a fucken pump n dump to you fucken basement rats!! just cause you put in your weekly allowance ($100( and you expect a LAMBO with that and the coin doesn't do 10000% its a SCAM ...LMAO poor fags....

Here comes the real FUD. Been working hard on this shill?

Do me a favor pal... read the fucking whitepaper before spewing your bullshit imaginary perception of the technology all over this forum.

1.) The transaction PoW energy is negligible because half the transaction is reciprocated by the machines verifying your transactions and it fractions of a fraction of a cent to process a transaction in energy costs.

2.) The coordinator is temporary until critical mass is attained, the Tangle is inifinitely scalable due to the cascade effect of integrated machines verifying eachothers transactions

3.) It is not a pump and dump, the marketcap is too large for it to be pumped and dumped like your everyday sub-10 marketcap shitcoins

Nice try faggot.

IOTA will be king

>Allah Akbar

more liek Iota Akbar amiriteguise

We know.

Not only that but they promise impossible features, such as fee-less and offline transactions.

Yet here it is, over inflated with idiot developers who can't even answer basic criticisms of their fake crypto coin, which is traded based on futures and not the actual coin.

And let's not forget it was launched on Bitfinex, a company run by Jew Yorkers who own USD Tether.

Nice try, this time i don't believe to fud. Fuck you.

>The transaction PoW energy is negligible
That's the fucking problem. Pow is used to prevent sybil attacks, which means if there isn't enough work being done then the network is vulnerable. They keep the work low because they are marketing for iot, which means there must constantly be a large amount of transactions per second for the network to be secure. Can you tell me the current average hash rate of the tangle? Can you tell me the required transactions per second for a theoretically secure tangle? No, because it's a stupid reddit tier shitcoin. True aspies know that hashgraph is the superior consensus algorithm.

nobody actually gives a shit about the tech. just buy low and sell high . fuck everything else. $$$

I have no relation to them and don't even what hashgraph is lol

>1.) The transaction PoW energy is negligible because half the transaction is reciprocated by the machines verifying your transactions and it fractions of a fraction of a cent to process a transaction in energy costs.

PoW expense is needed for security, you can't just magic it away

dag = directed acyclic graph?

yes

Cos your dumb, first time i can really tell its not fud because they never answered fucking questions about issues.

Its memecoin and fomoing assholes who understand 0 about tech are buying it.

Its hyped on news and big company's going in but this shit is broken as hell....

FUD bullshit.

This dumb nigger here hasn’t even read the white paper clearly or they’d understand the COO (coordinator) is a mathematical necessity until network saturation is reached. The COO prevents hash exploits in the tangle preventing double transactions.

kys pajeet

answers.thenextweb.com/s/dominik-schiener-and-david-sonstebo-d0XXq0

king autist Vitalik doesn't even understand it, bruh. the literal inventor of PoS is a developer for IOTA. you know more than them? lmao

>the literal inventor of PoS is a developer for IOTA

That's not even close to true, proof of stake was an idea long before CfB made nxt.

IOTA is the NEXT INTERNET BRO. Future of SMART MICROWAVES AND DISHWASHERS. You don't want to get piss rich off processing transactions of data for peoples driveway lights? You must be so dumb bro, the TANGLE.

>You don't want to get piss rich off processing transactions of data for peoples driveway lights?

Okay that one got me

>the TANGLE.
THE TANGLE

topkek

IOTA has no business being where it is.

It has so many problems it's insane. I would strongly suggest selling now.

>I would strongly suggest selling now.
Why?

>not a pump and dump

>sitting next to Bcash and Cardano

What figure will it be pumped to? Its made huge gains in the last 72 hours.

>1.) The transaction PoW energy is negligible because half the transaction is reciprocated by the machines verifying your transactions and it fractions of a fraction of a cent to process a transaction in energy costs.
This .... *slow clap*
these kids just mad they didnt get in earlier and now trying to fud to get price down to get back in

Because it's shot from $0.30 to $2.50 in a few weeks. Great money to be made, but it doesn't even have a wallet. Its unproven tech. It could derailed hard by one little issue.

IOTA depends on everything working perfectly. We know that never happens.

>IOTA depends on everything working perfectly.
the tangle is fucking perfection, don't you see?
THE TANGLE

just bought more

Why do you hate money?

sources to learn bout hashgraph? good thread op, notice how no one can defend themselves against le fud?

pathetic

also byteball is life

Mad noiota shill. I'm enjoying my 600% gains from June.

thousands of coins (hundreds of which have actual fundamentals, unlike iota) have had greater gains, profitability is no excuse

Bought 200 more a 215
Let's fukken go

Lol iota is 10xing. I don't got shit in it because I don't see any tech to back it. It's going to crash so hard but enjoy your free money

this lol, i'm loading up on byteball to collect the post-iota money

>it's quantum-computing-proof so it will be a top 3 coin

>your opinion is better than all of pic related

Just to give all of you inside info.
NTNU is Norway's largest and best technological university. Agder Energy is Norway's largest renewable energy company.
Trondheim Kommune is the third largest municipally in Norway.

tl;dr: oil money pump incoming

Ignore the muh I know Iota is shit people since this coin filters out the retards

Angry ARK and chainlink shills.

See you there, losers
>*rockets to the moon*

Byteball does not have PoW.

Which is more suitable for IoT?

Something which wastes energy - but does not provide security, or Byteball which does not waste energy?

which ones are worth looking into?

>IoTa Is FuNdAmEnTaLlY bRoKeN

How buttmad are you fags?
100% you will be a sobbing piece of shit because you yet didnt bought into the next booming coin because of your autism.
Easily $3 today. Easy 5-7 EOY and maybe even top #3/4 coin next year.
Get rekt.

Byteball, Cardano

Who the fuck cares if its broken or not
I'm just here to make money out of it and its working well

Fuck off

I aint even mad, it can go to $100, like BitConnect, Ponzis gonna Ponzi.

If I wanted money that much and had same morality as IOTA cultists, I would steal from old people or sell same snake oil to retards.

No thanks.

Byteball is the first DAG chain and the only legit tech.
> network secured by (low) fees and witnesses
> fair distribution (98% airdrop)
> everything already working
> fully anonymous coin (GBB)
> smart contracts
> great wallet which is also a messenger and a platform for addons
> new decentralized markets every month
Even though it crashed so hard I keep my free GB for the long term.

Trust us Goyim

Yeah Goyim trust us, we won't ruin you, it's against our religion

IOTA is unusable garbage that was brought to its knees by users “helping” to secure the network by spamming transactions. It has no fucking business being where it is. Once people realize the tech is shit and you can lose all of your coins if you reuse an address (no joke) this is gonna drop hard.

AGAGAGAAHAGAGAGAGAAHHAHAHAHAHAHHAHA ANOTHER /POL/ FAGGOT

GIVE UP GUYS YOU FUCKING FAILED WITH YOUR FUD

AGAHGAGHAHAHAHAHA

itt americunts who are too stupid to understand the tangle and butthurt that bitfinex wont let them trade.
the germans brought you to the moon once and they will do it again

t. Guy who holds all of his IOTA on an exchange

Just exited this coin at 5x, honestly I'm a brainlet who doesn't read whitepapers. Who cares if this is gonna succeed or fail, remember to buy high and sell low faggots.

Time to invest in disney's dragoncoin cus some other brainlet just told me. GLHF

Fucking dumbfrogs getting mad when looking at the IOTA-BTC graph and make retarded threads, this is so laughable

Do you think NTNU is like starting an IOTA course or something retarded? What it actually is, is one professor sort of but not really kept in the loop and musing over whether maybe IOTA can be useful in some way. These partnerships are just hype.

lookz to me like ur just mad u sold at the dip an didnt buy fuckboy. weak fkn beta male hands

>the germans brought you to the moon once and they will do it again

actually they won't, amerimutts btfo

the koreans are on board too

>tfw it's trying to correct but support won't even let it fall below the shadow of the last outbreak
>tfw rich next year by sitting on Veeky Forums

...

bump

omg, total bullshit info about IOTA
where did you get any fee on IOTA ? its totally free, dont blame people, everything else is only yours bullshit theory

yeah and the people saying theres no wallet when there is, and they are working with cisco now too.

This coins a literal no brainer to hoard and hold atm.

but these people do make you realize why people even lose money or rarely make gains, their info is outdated and secondhand.

>partner with cisco
>company makes basically all infrastructure devices of the internet
>say this is probably a 19 trillion dollar project
>this is a bad investment

What did I really expect from people who shit on a field and wash their ass with their bare hands.

LINK is not afraid of this silly IOTA. This is going to P&D like LINK did at SIBOs and then itis LINk that shall be victorious! Still, wish I hadn't sold 50 of these things last week for £4 profit though. Meh, fuck it.

It's in fucking alpha you fuck

Ok serious question:

IOT is very nice but why do you need a currency with it?