Why IOTA is undervalued 🤑 - The sleeping giant 😴
🕒 3 min read | IOTA has huge potential for the future. Responses to critics, upcoming events and my assessment for the future.
Disclaimer: This is not financial advice. Do your own research before investing.
Quelle: https://commons.wikimedia.org/wiki/File:IOTA.jpg, Author: Tiagodimas2, transformed, licensed under CC 4.0
Criticism of IOTA
First I want to start with a lot of information about IOTA that is not right, and some of which I want to clarify:
a. The transactions are not free, you have to do PoW
Yes, you have to do Proof-of-work to protect the system from spam and sybil attacks. That does not change the fact that the transactions themselves are free. If you send 5 MIOTA to an address it'll receive exactly 5 MIOTA.
Source: blog.iota.org
b. IOTA is centralized
IOTA is far more decentralized than other blockchains, such as Bitcoin, which is based on a pool of five major miners from China. Only the snapshots are currently controlled centrally. However, a roadmap will soon be released to address this issue and to decentralize the snapshots.
The coordinator does not want to be shut off, it wants to be removed. We'll post an updated timeline as well as an overall explanation of the coordinator, hopefully in January. - Dominik Schiener Co-Founder (Source)
c. An IoT device itself can never perform the required PoW
IoT devices currently have no processors capable of performing the required proof-of-work themselves, so these calculations are usually sent to a central location that does it. And there it is again, the bad word "central". But IOTA also has an answer to that: they are in the process of using ternary processors from JINN for the IoT devices. These are far more powerful and consume less energy than traditional binary processors. I recommend you to read this article to dig deeper: https://medium.com/@iotasuppoter/iota-the-hardware-part-a6100b5bb4d5
d. MIT FUD
The MIT has said some bad things about IOTA. Here is the official statement from IOTA:
e. The Wallet bad
Yes. But let's see what events are pending.
If you have further questions, feel free to leave a comment.
Upcoming events
a. New wallet
At the end of January, at least the mobile wallet should be published. The desktop wallet should follow in February. Features include: Completely new design with plugins, transaction queues, minimal standard and expert mode, 2FA, auto-rattaching of transactions - Screenshots here (unfortunately in german). Accordingly, it should also be possible to create a paper wallet. Support for hard wallets such as the ledger should also be a matter of time. Only a month ago a guy created an address on the ledger.
b. Data marketplace becomes public
Source: Screenshot data.iota.org
The data marketplace will be open to anyone at the end of January. This was the reason for the last pumping in late November, in which the misinformation with Microsoft were misinformed by the media and presented IOTA as a scapegoat.
c. Project "Q" 1st quarter 2018
The previously secret project "Q" will be published soon. The developers and founders have been doing "advertising" for a while. They trust the project so much that they see IOTA in a short time in front of Bitcoin Cash. In my opinion, "Q" is the ternary processors of JINN, but no matter what it is, it will be big!
Conclusion
The year 2018 will be very important for IOTA. There are extremely important events that will decide the future. These will significantly increase the value of IOTA. If you want a price forecast, I recommend this to you: https://medium.com/@peterryszkiewicz/iota-price-analysis-and-predictions-1a5855a7c36 . There are inescapable events enumerated and their impact on the price. By the way, Dominik Schiener sees it as possible for IOTA to reach a market capitalization of $ 1 trillion (Currently $ 10 billion, which is a hundredfold increase). And I also see that as possible if it really becomes the backbone of the IoT. The competition is at least not very high at the moment and we know from examples like Bitcoin or Ethereum which effects the first mover advantage has.
If you intend to buy IOTA I recommend you Binance and I would be glad if you would use my Refferal-Link if you do not have an account yet. In addition to Binance, you can also buy IOTA on Bitfinex.
Related Links:
- https://www.reddit.com/r/Iota/comments/7j81tq/fud_copy_pastas/
- https://medium.com/@iotasuppoter/iota-the-hardware-part-a6100b5bb4d5
- https://www.financemagnates.com/cryptocurrency/interview/iota-co-founder-coin-will-definitely-among-top-3-cryptos-2018/
- https://medium.com/@iotasuppoter/why-bitcoin-fears-quantum-computers-and-iota-doesnt-697da531a11b
@chkoenig I totally agree IOTA is underpriced! And a great long term investment, which doesn't scare me in the least. In fact that's what I love about it the most! I also have no doubt that 2018 will be profitable.
I saw you posted your Binance referral code, and am more than willing to support! Does Binance support U.S. customers? I'm holding some on Bitfinex and need to stop procrastinating and move it somewhere else but can't find the right place. I just hope it's not too late.
Thanks @meatspoon :) I know a lot of U.S. customers who switched to Binance because of the IRS and because it's easer to use. As you maybe know Coinbase had to give information to the IRS. That scared a bunch of people and binance had grown to 3 millionen users in about a month. Then they stopped new registrations, because they had to update their infrastructure. After they opened their doors again they hat 240.000 new registrations in the first hour. Currently over 5 millionen users are registrated. So I would really register asap before they probably stop new registrations again. I hope I could help and again thanks for the support. Have a nice day!
Just found another article with the title "IOTA, the sleeping giant". This takes other aspects in account.
https://www.theindependentrepublic.com/2018/01/12/iota-the-sleeping-giant/
IOTA is a good project but is more of a long term play. It may not see any real big gains/moves in the short/medium term due to this so it might not be the best overall investment decision (at least in the short term).
Yea I should've probably mentioned that I'm more the long term player/hodler. I'm not into that crazy altcoin pump the last weeks. I'll play save a long. Anyway thanks, I'll add a reminder to the text.
Hi @chkoenig
May be that's one of the possibility however IOTA claims about the deal with Microsoft turned out to be false, that's what I heard. That's one of reason there is not much activity for IOTA
@ajcode
Microsoft itself has spoken in a quote of a partnership. IOTA never said so, only the official quote from Microsoft was published. The media had picked this up and mistakenly considered it as a fact. That was really bad and a pity.