IOTA: Why all the FUD?
There's been a LOT of controversy and drama surrounding the IOTA cryptocurrency over the past few months.
But what's the truth? is IOTA a scam or a legitimate project? That's what I'll be discussing in this video.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
Most of the “scary points” have been mentioned by previous commenters. I have had similar concerns, and haven’t gotten into Iota because of these points.
Personally I feel it is a legit project, though. They have a good team, and a solid plan. They just need to produce results and execute. This goes for a lot of cryptos out there right now.
Hey @louisthomas! It's an interesting and difficult topic you brought up in this video. Richart Heart and Tone Vays are two very interesting individuals, although they often express their knowledge in a controversial and radical way, I think that it would be careless to just neglect that insight. On the other hand, I also think that it might be a bit harsh and unfair to call IOTA a scam. I only had a brief look at the project but found it to be very interesting. They have a great vision and tackle a lot of things in a different way. Unfortunately, this is also where the problem starts, since some of these innovative approaches serve as the attack surface for fud but also for legitimate criticism. The absence of a working wallet is a real issue, generation of a private key outsourced to the user, transaction issues as reported by Richart Heart, and last but not least I think I remember something about trinary instead of binary and the implementation of proprietary cryptographic algorithms. Depending on the context, the line of legitimate criticism and fud blurs. I consider it highly unlikely that IOTA is a scam and the team may have my trust in terms of their genuine intention of making it work. They're still left with a huge pile of challenges to overcome and honest intentions alone won't do the trick. Although I hope for IOTAS success, with a market cap of 3.5 Billion $ it's it is about time that they prove the critics you mentioned wrong, or the critics might be right in saying IOTA is overvalued. I'll definitely keep IOTA on my watchlist and hope to find time to dive a bit deeper to check out the technical details myself.
Keep up the good work!
Cheers - @sblue
BTW: The Flappening status update: 8 Billion $ to go. 😜
I sold my stake in iota for litecoin a few weeks back. I all honesty i never fully understood the technology and the lack of a useable wallet had me concerned
Now slowly market coming to the finale tracks.
I hope this market continue in future 🙋
Dear, It is expected that our cryptocurrency market is going on different levels in a while, but it will continue to run in this way we still hope to have a good share market! Our cryptocurrency market relationship should be kept in a lot of knowledge, through which we cross the line and we will share market share, and cryptocurrency will give us a good part of the understanding or understanding of investment, which we can do very well.
The matter may not be clear to everyone, but you have written it very well.
You said the whole thing so beautifully that it can not be imagined.
You can write a lot better, your praise will be reduced.
Please let us know as you write it, hopefully you will give us a lot of great gifts.
Stay tuned, stay with us. Keep it up your job Sir. Thanks For Your Everything.
Great analysis @louisthomas.... Your explanation is really awesome and helpful for crypto holders and collectors or blockchainers....I think,Every cryptoholders or blockchainer should watch your video before taking their decision
IOTA is a cryptocurrency that has no transaction fees and requires no miners in order to process transactions. It does, however, require some computational power to submit a transaction, making it perfect for machines to use as a currency and distributed communication protocol for the Internet of Things. But we can still not say anything about whether it's fake or legitimate.
And in my opinion Bitcoin, altcoins have a long way to go in terms of scaling and IOTA is probably the worst of all out there right now. They need to be held responsible for screwing people over. Bunch of lobotomized retards they are.
Excellent video as always! I've actually been recommending people to your blog. IOTA has been stirring mixed feelings in my heart. Love the technology and I think it has promise, but the team is so focused on the big picture, they seem to neglect the investor community. Like this - why did it take so long to come up with a decent wallet? Or why some questions folks ask go unanswered for a long time? I think they can learn from litecoin founder Charles Lee who is very outspoken about his projects.
It might be a legitimate project with sound technology, but at its high valuation the risk/reward payoff just isn't there. Plenty of other projects out there that don't have the same risk and uncertainty. Holding IOTA wouldn't help me sleep at night.