IOTA, A CryptoCurrency With A Lot Of Fans & Critics!
IOTA is probably one of the most loved and hated cryptocurrency at the same time. While some became huge fans of the tangle and its potential others are criticizing it quite a lot for its code as well as the behaviour/actions of the team.
Huge Potential
I've been a huge believer at first due to the promising tech, moved over to being a critic eventually and am now taking a rather neutral position in all the discussions about IOTA.
For me it's a fact that a fully functional tangle would be a huge innovation and enable a lot of things within the IOT to happen. So that being said IOTA could just be the tech we might all use in a few years. Especially the many partnerships they've got with major firms are honestly quite impressive.
The use cases they outline regularly on twitter speak for themselves and just show how far IOTA could get included into our daily life's. Pretty much everything could be interconnected, saved and controlled with it, making it the ultimate tool to solve a bunch of real world problems.
Lots Of Critics
On the other handside though it's worrisome to see that their setup has been responsible for millions of user funds being lost. But as if that wouldn't be enough the code used by IOTA keeps getting heavily criticized regarding its security from e.g. the MIT's Digital Currency Initiative (DCI), which can definitely be seen as a trustworthy source.
Unfortunately the Github activity doesn't really speak for IOTA moving forward neither. Compared to other tokens they don't seem to be too active and actually didn't take any changes live since 2 months.
My Conclusion
Like mentioned above already I'm taking a rather neutral standpoint towards IOTA these days but am honestly not too optimistic about it neither. It just doesn't seem to be capable to hold up to the promises made. Somehow I really hope though that the team will turn the ship around and succeed to make IOTA what it's intended to be, just because of the huge potential it bears.
What's Your Opinion On IOTA?
(Source 1 - Coincheckup.com)
(Source 2 - Coindesk.com)
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I held for a few months, made some money from it and sold at a higher price.
I read into a lot of the hype, and profited from it, but it's essentially what kept me around. Once I started to pay more attention to it, I realised that it was definitely more hype than substance.
They didn't really have a proper functioning wallet. It was the only coin I kept on the exchange because I was too scared to transfer it out at risk of losing my coins. I've held probably 10-15 other coins and none made me feel this way.
Also had some chats with devs of another mainstream crypto who were all of the opinion that the scalability claims aren't exactly ground breaking, and that the concept comes at the cost of security.
And there's been a lot of talk of partnerships, ground breaking announcements, etc, that quite often end up again being more hype than substance.
There was a website I stumbled across recently that raised a lot of other questions, some of which you've touched on. I think there were some issues with some of the ICO allocation as far as I can recall.
Either way, I'm out.
Yes, I think you had more or less the same experience with IOTA as I. It just seems to be more hyped than actually based on real innovation and results. I will still keep an eye on it but without some big things happening no money will flow in from my side...
https://www.youtube.com/paulbegley34
many technologies are developing now but not all are reliable.
That github activity is pretty damning.
I thought the partnerships that they had built were meaningful and active? This says something else. Not good.