IOTA Thread (First Non-Blockchain Coin)

Well, I'm glad I was able to provide you some enlightenment!

Most of the misery I've had with Crypto has come from taking it seriously, and all the fun has come from treating it like the silly fad it is.

People want IOTA? Let 'em by IOTA. Buy it before they do and then sell it to them for more than you paid for it.
It's centralized? Who cares? They want it anyway.
It has severe security flaws? Who cares? I won't be holding it long enough for that to matter, and if I do, my position sizing rules will protect me.
IOTA's written by idiots and liars? Who cares? You're not investing in a company that'll be around in 5 years, with your investment dependent on them being upright people who make good decisions. You're buying a silly, imaginary coin and then selling it a little later.
 

JayJuanGee

Crow
Gold Member
sync said:
Like 99% of the cryptos IOTA is SHIT. Its just an idea which does not work and make the founder rich.

Check this:
https://codesuppository.blogspot.de/2017/12/iota-tangled-mess.html?m=1


I largely agree with you that there are a lot of shitty cryptos out there, and that very few of them can you have confidence in the fundamentals driving the price in the longer term 3 years to 5 years to 10 years. Maybe in crypto land 3 years is a long time, and if you can keep up a pump for 3 years, then that kind of price action in itself increases fundamentals to some degree - but you could be correct also that crap is crap, in spite of short term pumps.

By the way, what is your idea about the 1% of crypto that is not shit? Which one(s)? How do you come to such conclusion?
 

JayJuanGee

Crow
Gold Member
SamuelBRoberts said:
Well, I'm glad I was able to provide you some enlightenment!

Most of the misery I've had with Crypto has come from taking it seriously, and all the fun has come from treating it like the silly fad it is.

People want IOTA? Let 'em by IOTA. Buy it before they do and then sell it to them for more than you paid for it.
It's centralized? Who cares? They want it anyway.
It has severe security flaws? Who cares? I won't be holding it long enough for that to matter, and if I do, my position sizing rules will protect me.
IOTA's written by idiots and liars? Who cares? You're not investing in a company that'll be around in 5 years, with your investment dependent on them being upright people who make good decisions. You're buying a silly, imaginary coin and then selling it a little later.

Sam: Are you actually trading IOTA?

From your comment in the last few posts here, I am inferring that you are, and you are in and out of such investment.

Don't get me wrong, because I am not saying that you are wrong (assuming that you are trading IOTA), but if you are trading IOTA, this demonstrates a philosophical approach that is quite different from my own, and really I believe that you really have to "stay on your toes" and even have some differing measurements than me to attempt to profit from something that even you concede could reverse at any time and even unexpectedly. So, in that regard, you have to really ensure that you have an ability to get in and out (and you are risking that you could get trapped, if there are some shenanigans that go beyond your expectations).

Anyhow, even though I disagree with guys about this kind of approach to investing, I do understand that there are ways to protect yourself and overall strategies in playing the numbers that could still cause such a strategy to be decently lucrative - for example, a more stable investment might bring you 20% to 5x in a year; however, a trading strategy could allow you to get 20x or 100x on one or two investments, but still end up with an average return that is greater than the more stable investment. The level of centralization of IOTA specifically, and even in your own reports, Sam, causes me to be completely weary to take any kind of stake in it, even if I were to conclude that there could be some decent chance of a short term return that is higher than other crypto assets (or other assets for that matter).
 
SamuelBRoberts said:
Well, I'm glad I was able to provide you some enlightenment!

Most of the misery I've had with Crypto has come from taking it seriously, and all the fun has come from treating it like the silly fad it is.

People want IOTA? Let 'em by IOTA. Buy it before they do and then sell it to them for more than you paid for it.
It's centralized? Who cares? They want it anyway.
It has severe security flaws? Who cares? I won't be holding it long enough for that to matter, and if I do, my position sizing rules will protect me.
IOTA's written by idiots and liars? Who cares? You're not investing in a company that'll be around in 5 years, with your investment dependent on them being upright people who make good decisions. You're buying a silly, imaginary coin and then selling it a little later.

Let's keep the facts clear: why has a company like Bosch invested in IOTA? Why many big players are collaborating in the data marketplace with IOTA in order to study how the solution could fit their need?
Maybe the project will be successful, maybe not, but at least here we have real companies who are taking it seriously and trying to cooperate, which makes IOTA more serious than 99% of other crypto currencies. So this is not the typical pump and dump coin, but rather a long term project.
It was already told that it will be decentralized in the future when the solution will be stable and the security flaws have been fixed.
There are still some issues with transactions and the wallet, but this project is the most promising along with Ripple.
 

JayJuanGee

Crow
Gold Member
Giacomo Casanova said:
SamuelBRoberts said:
Well, I'm glad I was able to provide you some enlightenment!

Most of the misery I've had with Crypto has come from taking it seriously, and all the fun has come from treating it like the silly fad it is.

People want IOTA? Let 'em by IOTA. Buy it before they do and then sell it to them for more than you paid for it.
It's centralized? Who cares? They want it anyway.
It has severe security flaws? Who cares? I won't be holding it long enough for that to matter, and if I do, my position sizing rules will protect me.
IOTA's written by idiots and liars? Who cares? You're not investing in a company that'll be around in 5 years, with your investment dependent on them being upright people who make good decisions. You're buying a silly, imaginary coin and then selling it a little later.

Let's keep the facts clear: why has a company like Bosch invested in IOTA? Why many big players are collaborating in the data marketplace with IOTA in order to study how the solution could fit their need?
Maybe the project will be successful, maybe not, but at least here we have real companies who are taking it seriously and trying to cooperate, which makes IOTA more serious than 99% of other crypto currencies. So this is not the typical pump and dump coin, but rather a long term project.
It was already told that it will be decentralized in the future when the solution will be stable and the security flaws have been fixed.
There are still some issues with transactions and the wallet, but this project is the most promising along with Ripple.


Sure it is possible that you can measure the likelihood of success of any project by the number and kind of BIG companies that are interested in such project and the extent to which they are investing in such project; however, in the crypto space (and even in the concept of valuing decentralization), some of the involvement of BIG companies could be a bit of a distraction or even a counter-indicator.

I am not saying that you are wrong about giving weight to such BIG company involvement, but I doubt that BIG company involvement causes any kind of slam dunk regarding the extent to which individual investment would be a good idea or even the timing or the fact that individual investment could still get caught on the wrong side of a pump and dump situation that is not as fundamentally strong as might be presumed by the mere involvement of BIG company money.
 
Giacomo Casanova said:
Let's keep the facts clear: why has a company like Bosch invested in IOTA? Why many big players are collaborating in the data marketplace with IOTA in order to study how the solution could fit their need?
Maybe the project will be successful, maybe not, but at least here we have real companies who are taking it seriously and trying to cooperate, which makes IOTA more serious than 99% of other crypto currencies. So this is not the typical pump and dump coin, but rather a long term project.
It was already told that it will be decentralized in the future when the solution will be stable and the security flaws have been fixed.
There are still some issues with transactions and the wallet, but this project is the most promising along with Ripple.

See? If Giacmo thinks this way, odds are a lot of other people do.

Is he wrong? Well, I think so, but his money is just as good as everybody else's, right?

So which is the smarter move? Spend two hours writing a well-sourced, detailed post about why he's being ridiculous, or buying some IOTA and then turning around and selling it to him and his fellow believers for more than you paid for it?



JJG: No, I'm not in IOTA right now. I don't like high caps as a general rule.
 

JayJuanGee

Crow
Gold Member
SamuelBRoberts said:
Giacomo Casanova said:
Let's keep the facts clear: why has a company like Bosch invested in IOTA? Why many big players are collaborating in the data marketplace with IOTA in order to study how the solution could fit their need?
Maybe the project will be successful, maybe not, but at least here we have real companies who are taking it seriously and trying to cooperate, which makes IOTA more serious than 99% of other crypto currencies. So this is not the typical pump and dump coin, but rather a long term project.
It was already told that it will be decentralized in the future when the solution will be stable and the security flaws have been fixed.
There are still some issues with transactions and the wallet, but this project is the most promising along with Ripple.

See? If Giacmo thinks this way, odds are a lot of other people do.

Is he wrong? Well, I think so, but his money is just as good as everybody else's, right?

So which is the smarter move? Spend two hours writing a well-sourced, detailed post about why he's being ridiculous, or buying some IOTA and then turning around and selling it to him and his fellow believers for more than you paid for it?



JJG: No, I'm not in IOTA right now. I don't like high caps as a general rule.

What is the meaning of "high caps" in this context?

Are you referring to market cap or something related to how much money you need to get in or something else?

Regarding market cap, there are a whole-hell-of-a-lot of cryptos that seem to be in the stratosphere of evaluation with regard to their market cap, so any analysis of market cap as compared with fundamental value would seem to need a decent amount of contextualization in order to attempt to make such indicator meaningful in and of itself.
 

Valentine

Kingfisher
Gold Member
IoT Chain (ITC) is popping off. It's the "IOTA of China", up 400% for the week and cracked the top 100 now. Strong team and have a working prototype, looks like it'll compete well with VeChain and IOTA.
 

semibaron

Kingfisher
semibaron said:
Read the following article before the next FOMO starts. FOMO will probably start around mid-end of Q1.

https://medium.com/@iotasuppoter/why-keeping-your-iota-makes-sense-75e8a74cf2ee

My guess for what Q is going to be: Jinn, the long-awaited ternary processor.


To be honest, the performance of IOTA was quite disappointing so far and the momentum seems to be gone. I'm still very bullish on it for the next years to come, but don't see it to spike crazy anytime soon. Maybe by the end of 2018. Some wise man (W. Buffet) said: "we like pessimism because it creates cheap prices".

At least we are going to know what Q is going to be. On June 3 they will give out details on it.

https://qubic.iota.org/

It was already stated that it will be combination of Oracle's + Smart Contracts + Distributed Computation on the IOTA DLT. Hopefully we will see how all those things such as ternary base, Jinn, Curl etc come in to play.
 

semibaron

Kingfisher
As the whole crypto scene is in kind of a bear market, I believe the tremendous progress made by the IOTA Foundation isn't mirrored by the current price. In my opinion, IOTA will be the first Distributed Ledgers Technology (DLT) that will be used in real world use cases. So, here is an incomplete update about the current status of the project. Further information can be accessed in the IOTA All-in-one [url=https://www.iota.org/the-foundation/team]hereThread[/url].

2018 is mainly dedicated to build the IOTA foundation into a proper organisation. A big achievement was the incorporation of the IOTA foundation as a fully regulated non-profit organisation in Germany (Company No.: 3416/1234/2; EU public ID number 500027331119-04) with its own bylaws. This means the IOTA foundation, unlike most other crypto projects, is properly governed by a true board of directors and supervisory board. Especially the supervisory board is filled with extraordinary individuals. The whole team is introduced here.


Supervisory_Board.png



LinkedIn:
Johann Jungwirth (Volkswagen - CDO)
Rolf Werner (Fujitsu - Head of Central Europe)
Richard Soley

More high-profile advisors:
Anes Hodžić (Airbus - Vice President)
Michael Nilles (Schindler - CDO)
Klaus Schaaf (VW - former Research Director)


Currently, the team at the IOTA foundations consists of 70+ individuals (not everyone is listed yet) and it's still growing. The board of directors announced the target of 100 members by the end of the year. A glimpse on job openings can give us an idea in which area IOTA might possible grow.


Open_positions.png



Not only the IOTA foundation has been formed, but also partnerships for real world use cases have been signed. Here a short selection of important partnerships, most notable the VW Cebit 2018 showcase. A more exhaustive list of partnerships can be found here.



Investment by the Bosch VC arm in IOTA. This is especially interesting when considering the development of the IOTA own Jinn processor (1 & 2) and the fact that Bosch builds a new semiconductor fab in Dresden. Obviously it's speculated that Bosch is going to produce the Jinn processors.

Bosch_VC.png



Taipei (Taiwan) Smart City project

Taipei.png



Last but not least, the IOTA Ecosystem starts to flourish. There are already 139 registered community projects and the IOTA Foundation has setup a Ecosystem Fund of ~20m$.

As I said before, I believe IOTA is going to be practically everywhere in two to three years from now. In the short term, however, IOTA price will definitely decided by Bitcoin movements and nobody knows where it's going to swing.
 
The main concern is still about the tangle not working properly, coins getting lost, transactions which need to be reattached manually and the fact that they weren't able to deliver a flawless wallet despite 6 months of delay. Not many progresses apart from the partnerships that could always expire if the team won't be able to deliver.
 

semibaron

Kingfisher
Giacomo Casanova said:
The main concern is still about the tangle not working properly, coins getting lost, transactions which need to be reattached manually and the fact that they weren't able to deliver a flawless wallet despite 6 months of delay. Not many progresses apart from the partnerships that could always expire if the team won't be able to deliver.


1. Tangle not working:
There was/is an attack going on for the last 2 months with a massive side-tangle. After a couple of new node updates, the network got finally fixed yesterday.

2. Coins lost:
Not even 1i got lost because of software bugs. If anyone lost coins, then it happened because of own stupidity like using an online seed generator or not using the wallet correctly.

3. No more manual reattachments since already 2-3 months:
Look point 4. Also the concept of reattachments doesn't exist anymore. They use a new approach called promoting. Last, even promotions aren't need anyone as the transaction confirmation rate is 95%+ thanks to a new tip selection algorithm

4. Wallet:
The new Trinity Wallet is out since 2+ months. Does auto-promotions for you and is probably the nicest wallet out there. A desktop client is currently undergoing a security audit through a third party and should be released within the next 1-2 months.
 

semibaron

Kingfisher
semibaron said:
Investment by the Bosch VC arm in IOTA. This is especially interesting when considering the development of the IOTA own Jinn processor (1 & 2) and the fact that Bosch builds a new semiconductor fab in Dresden. Obviously it's speculated that Bosch is going to produce the Jinn processors.

Bosch_VC.png


There is a small, but very significant update on Jinn. Dominik Schiener, one the directors of the IOTA Foundation, dropped this on Discord.

dom - Today at 3:04 AM no, we do not work with Bosch on Jinn

That's excellent news as the Dresden semiconductor fab won't start producing anything before 2021. In return, this means that there is a high possibility that Jinn processors might come out already in 2019 or 2020.
 

redbeard

Hummingbird
Gold Member
IOTA is trash and the only reason you should buy it is if the technicals look good and you're looking for a quick pump and dump.
 
There are huge complains about confirmation time being very long and the success rate of the transactions still below 30%. The network is still not stable. The exchanges are constantly closing deposits and withdrawals, which is creating opportunities of arbitrage.
How could entreprises adopt something which is not working flawless?
The fact itself that you should generate by yourself a seed is an indicator that the technology is still not ready.
Few days ago the founder of Iota said "fuck the market" in response to a question about the price. Is it a normal behavior when you have a coin with 2B$ market cap and investors of any kind including big corpo? The foundation also pays salaries and finances business development in IOTA.
In fact today the reaction of the market is a -20%. Those people are totally amateurs in terms of business. Good idea, but still very overvalued coin.
 
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