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. 😜