IOTA will not last because it will not get collectively adopted.
I definitely think the IOTA concept is a great concept and their technical solution for real life problems is very interesting. I think we can all agree that IOTA essentially seems like it is a great blockchain. (Edit: @playforpleasure corrected me in stating that IOTA uses 'the Tangle' but I indeed went for blockchain because that's what people know)
But here's my take on it. IOTA will not last because it will not get collectively adopted. So for me (I'm not into short trading), holding IOTA for the long term is out of the picture. But what about short term? Well, because it's very new and seems to have a great use case for millions of devices of course IOTA is very interesting for short traders and I expect several pumps and dumps along the way that short traders can profit from. Again, I think that IOTA will not get collectively adopted and therefore last.
Why? Because I don't think that big companies like Apple, Microsoft, Samsung, Sony, LG, Bosch, Siemens, etc, etc, that make devices that connect to the internet for some reason, will jump on the IOTA train. Why? Because each of all those companies will, in my opinion, surely try to build their own blockchain/tangle/system first. Most companies on that level don't really want to adopt a standard that they haven't created themselves unless there's not a good way around it.
The world needs standards, but all those companies do not really want them. Not having 1 standard for specific things in the end drives the economy. They want to create something themselves (and perhaps one or two other 'partners' to form an alliance) that is supposed to be so good that others will have to adopt it as the new standard. Thus making more money from it.
So IOTA can definitely still be a nice short term investment but I don't see it being picked up collectively by all the big players in the upcoming years. I'm most certainly not against it and IOTA seems that good that I hope they all will just for testing purposes to start with, but best case scenario will be a few small companies who can't invest in research and development of their own blockchain/tangle/system trying IOTA while all the the big players will come up with a IOTA concept of their own and basically market that as the new standard.
Interested to read all your views on IOTA so feel free to comment down below!
Thank you for your thoughts on iota, I'm following you
Thanks @crypto-p.
May I ask why you upvoted your own post? What's the strategy behind that? Will you even get that amount of $ after 7 days?
Oh, I just love myself, that's why I did it.
Everyone should love themselves. But... I could use a little love too :)
One for the lol's
Following you
Unfortunately @crypto-p is just a little leach on the Steemit community. If you notice he didn't upvote your post and he lied about following you. He never followed you. He did the same thing to me.
Unfortunately we are going to have to find out a way to deal with these types of guys because there could end up being a lot of them doing this type of thing everyday and if too many people are paying themselves like this and not sharing and contributing to the platform then people will start leaving.
Thanks for the explanation! I will immediately unfollow him and pay a little bit more attention to these kind of practices!
yeah he will screw himself in the end by doing that but he is trying to gain a large following doing that and then is utilizing the comment sections to just reward himself and cash out his vote. It will back fire on him in the end.
Hopefully sooner than later.
Steemit could certainly use less of those kind of people. Personally I really dislike the simple copy/paste posts where people simply copy/paste some news item or other blog post from outside of Steemit and post it here, not adding even a single own sentence.
In general The quality is a lot higher than on many other sites tough.
Those people don't make it very far on a platform like this. They are just throwing shit into the wind and seeing what sticks. But then they don't earn anything so they just drop off. Now there are droves and droves of them coming but the ones that are able to build reputation and start earning consistent earnings are people who put more work into it and have original content and put in the effort.
Keep up the good work Brian! I will try to do so as well. Too bad I live in The Netherlands where there's only about two weeks of proper good weather to do a pool meeting of my own.
I will stick to writing just for now ;)
Upvoted and followed for the info..... I still enjoyed the laugh though.
So it appears that the Microsoft and IOTA partnership is a total lie. This makes IOTA price go down, i just wrote an article about the recent bombshell news https://steemit.com/cryptocurrency/@felipesuarez/the-reality-of-iota
Do you think the price will go up again?
This shows how immature the crypto sphere still is. Someone throws a rumor into the world.... and everyone goes crazy.
IOTA will be relevant for short traders for a while, but as I've written in my post... I don't see it getting adopted by companies who make IOT devices. Therefor it will not last in the long run. Also... since there are no fees how are they even going to make money?
totally crazy, and that makes them none usable as currency now because of the crazy changes in price. right now they are usable as investments.
I do not agree or disagree with you on this one mate, I haven't really looked at Iota myself. I do appreciate hearing your views and upvoted accordingly.
Do you think it's possible that one of the big companies you were referring to might look to acquire Nautilus as protection?
I agree that many big companies in a wide range of industries will see the potential to, and value in, developing their own crypto. Is it possible that Apple (for example) might acquire Iota just to protect themselves against Microsoft (for example) beating them to market with a viable alternative?
Excellent argument. If Apple or Microsoft or any other company decides to buy them then it changes the game. But we're talking about a different scenario now.
Perhaps that's the clever thing to do if you have a few million to spare. It's the reason why Microsoft for example is invested in Ethereum and Stratis.
As soon as something like that will be announced IOTA immeditely becomes very very interesting for long term investors as well.
You can find a information here that Microsoft is working with IOTA. https://bitcointalk.org/index.php?topic=1381875.0
@beachbuminvestor really interesting path of thoughts! I think this is absolutely a possible scenario. I think Apple definitely needs to take action in this whole Blockchain and Tangle thing because else they will become less relevant.
The big players do need some kind of common payment network shared by all IoT devices. I think the main concern regarding IOTA is the question whether it indeed scales and is secure. The hardening of the network will take time. Only if proven hard (could take several years), it makes sense for manufacturers to develop devices using this network.
Hardening of the network is indeed one of the most, if not the most, important aspects of every kind of payment/transaction system. You're definetately right. But current architectural decisions must be made already in order to secure everything enough and make sure that they can continue securing it in the (near) future.
But, I don't think developers have to create any new devices in order to transact with/through IOTA. They are only required to add some IOTA code to their current device management software and update the applications we use to make it all work. Except if the device has some form of limitation. If they would want to... they could have an IOTA ready device tomorrow.
Thanks @valderrama for posting the link to your take as a reply on my article (https://steemit.com/iota/@playforpleasure/iota-has-gone-down-like-i-predicted) I had already read a part of it and I think it's really interesting to think about. I get your point about big companies wanting to build their own blockchain, IOTA wants to connect different devices designed by different companies. So I really hope IOTA will work out because I think in that way the interactions could be way more streamlined. But I think you're absolutely right about the big companies wanting to develop their own systems. IOTA doesn't use a Blockchain it uses the Tangle, but I think you already knew that and just wrote Blockchain for the convience for people to make it more understandable:)
What's your take on Ethereum?
Thanks for your Tangle remark, I knew, I forgot. Edited my post ;)
My take on Ethereum? Well... defintately a good long term investment. Not much risk involved. But... there is a scenario that I can see happening where they will loose their number 2 spot. I've written about it in: https://steemit.com/cryptocurrency/@valderrama/will-stratis-overtake-ethereum
And in: https://steemit.com/cryptocurrency/@valderrama/stratis-will-beat-ethereum-in-2018
Perhaps a little provocative but it can happen.
Bullshit. :)
Hmm. I dont think big companies need to adopt it. That of course would help, but independent developers could use the technology, IF they thought it was beneficial. Like the way Linux is huge.
Isn't the internet of things about devices connecting with the internet? Devices are being made by companies, not by devs. Devs just make software...
IOTA is fee-less. IOTA has no scale-ability issues. My questions is: How will ANY block chain compete with this new disruptive technology?