Disclaimer I own a few alt coins but no IOTA

I have been hearing about IOTA for a while but didn't know much about it. I noticed during a recent boom it was one of the few coins that went down. Today I found a somewhat negative article about it HERE that laid out a few points to consider:

Negatives

• When researchers at MIT found IOTA's hash function to be insecure, IOTA developers threatened to sue. If you find a bug in software you should report it. That is kind of written in stone. IOTA claims their hash function called CURL is going to be immune to quantum computer hacks and is proprietary and not open source.

• IOTA's offical wallet did not have a seed generator so some people used other sites to generate them and these sites stole the keys to their wallet.
  Link to another article about issue

• Not decentralized. IOTA developers actually control all the coins and refer to to it as "Semi Centralized". It has no blockchain and no mining. Is it even a crypto? As I understand it the distributed ledger has new transactions confirming transactions before it?

Positive Points

I know people who love IOTA so it would be unfair to not talk about the good as well

• No mining. At the end of day mining is wasteful. It's using electricity for pointless computations.

• It's fast. Think of it like this: Bitcoin has one Teacher marking 100 student's tests so it is slow. Tangle is each student marking the test student next to them. Obviously faster.

• The more people using IOTA the faster it gets, unlike Bitcoin where it just gets slower.

• The no block chain is offset by their system called a Tangle. It's actually kind of interesting, like I said you confirm 2 previous transactions in order to have yours confirmed. There is an in depth write up on how it works here: Link

Image source

• It is designed for the Internet of Things (IOT) the everyday connection of the internet to our lives. Everything that is connected to the internet. https://en.wikipedia.org/wiki/Internet_of_things

• There are some great ideas being worked on. Imagine charging your car at a station and just pushing a button and IOTA is used to pay for a transaction. Even a credit card is something thieves could kill you for, is this not going to be the type of thing that some people will want? Machine to Machine economy is coming. This is could be huge in my opinion.

• Backup for your documents, storing them on tangle as an exact copy without fear your cloud is going to crash

• Anti counterfeit code to ensure you aren't buying fake stuff

• They are even working on a voting thing, you know that online voting is coming one day, IOTA hopes to create a tamper proof system using Tangle.

I guess IOTA is still working on getting press releases out and need a PR person. There was quite a bit of info I found not on their site but in this blog

At first I was just going to write about the anti IOTA piece, but the more I read about it, the more interested I got. I think I am going to buy some.
DISCLAIMER THIS IS NOT INVESTMENT ADVICE!

Image source

Iota Links

Website
Whitepaper
IOTA subreddit