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RE: Top 5 cryptocurrency's to buy NOW!
Nice overview. I have one question. I know little about Iota
for the first time ever makes it possible to transfer value WITHOUT any fees
We can do this with steem already so what is the added benefit with Iota?
@eroche, good question. The keyword for this is inflation. Steemit creates Steem to pay out its users. This influences the Steem price. IOTA is capped to a certain amount and will not inflate. I think you should use Steem to earn with your content and IOTA to make transaction without any fees. Let me know if you agree now?
This begs the question what gives Iota value? I need to read more about how it's distributed.
Steemit/Bitcoin have work algorithms that determine how new coins are distributed. In my view this is what gives these currencies real value.
The fact that you need to pay to make a transaction in Bitcoin is a difference with Steem which allows free transactions but rate limits how much you can use the network. Once value has been created and distributed in these systems there is a difference in that one charges, the other doesn't.
I would be interested in learning how Iota creates value to understand what value it can transfer.
Isn't it great we are talking about the fundamental aspects of the currencies rather than the current market cap :)
@eroche Yeah I like to have a good conversation about cryptocurrency. That is the reason why I made a Discord for traders. I'm going to make a article about IOTA to explain it. I let you know when it's finished!
That's great. Ill check out discord too. Thanks for the info.