IOTA is the future, imminent moon

I've been saying this since iota got to to 0,6

IOTA is the only cryptocurrency that has a solid purpose and would actually bring real money to the market

We're looking at the prince of the cryptos. And he will be greater than the king

Iota will also be supporting smart contracts and blockchain development with the implementation of time stamps on the tangle.

Iota is the one true crypto

>>3175070
Yes, with the upcoming announcements and the crypto credit card that will support iota, we are very close to breaking the $1,50 mark

IOTA could easily reach $50 in a year

>>3175016
>>3175058
>>3175070
>>3175120
Holy fuck shill harder guys

>>3175177
We are past the dip, but you can still get a taste of it
I am no moron or shitcoiner, I am a permaholder and only put my money into coins I do believe

Right now my portfolio consists in IOTA(50%), Ark(25%) and OmiseGo(25%)
In the next week I'll probably dump money into NEO because the chinese are probably going to make it take Eth's place

But of these coins, IOTA is definitely the greatest hope. The other ones are just for faster money

>>3175177
Lol this is even bigger than neo

We are talking about millions of dollars you could make in five years just by buying a few thousand of these boys

>already #6 in marketcap
>mooning soon

ok op.

>>3175120
>predicting IOTA will have more than 2x Bitcoin's total market cap in a year
>imagine being this retarded.

>>3175324
hey new friend
welcome to crypto currency, i hope you have more than $20 in it

i know you arent used to all of this yet, but over time everythings market cap rises, and things could still be ranked beneath others whilst increasing in value

thanks, and have a good night you fucking retard

File: 1498531302513.gif (607KB, 800x792px) Image search: [Google]

607KB, 800x792px

>>3175324
>only 2bi market cap in the most promising project
>only 85 cents per MIota
>tangle network improvements soon
>crypto credit card

You can believe a guy who has done his research and have been reading about IOTA everyday for over a month and decided to go balls deep on it, or you can do your own research

But beware it broke the $1 mark twice and when it breaks the third time, it isn't coming back

BITTREX WHEN

>>3175381
Actually it's getting added before the end of the year

>>3175324
>being this stupid

File: you are smart.gif (992KB, 500x239px) Image search: [Google]

992KB, 500x239px

>>3175346

>forking a coin multiple times to solve its many problems is reliable
>not migrating to a new, 100x better and yet cheap coin because muh marketcap


imagine an imbecile who thought like that

>>3175510

I mean to be fair BTC has the brand awareness and multiple fiat exchanges to buy on. IOTA has a long way to go to be able to compete with BTC, even if I think it's honestly worthy (fuck miners controlling everything)

Iota may not be the best short term coin, but it is definitely the face of the future trillion dollars cryptomarket we are having in ten years

This is the new chance od buying bitcoin for a dollar
Take it while you can

>>3175016
https://youtu.be/EXjCqT-oK9M

IOTA 0/

>>3175016
Most promising coin thus far imo.

But devs fucked us over when they made a massive coin supply. Not saying that the volume can't happen to make it skyrocket but it's definitely gonna take some effort.

Imagine is the supply of this coin was 50,000,000. This would 100% compete with bitcoin and eth.

>>3175540
but we have the MIota for that

you're not buying iota now, you're actually buying 10million of it

the supply, if you put it in terms of MI, is actually pretty close to bitcoin

plus, the fact of Iota -/- Miota is great because you don't have to teach normies the decimal scale

IOTA is the future, the long term hold and the international currency accepted in the 2024 olympics

>>3175540

On the flip side high volume will keep prices appearing to be 'down' for longer which will make people more comfortable with buying some. Obviously it needs to hit some fiat exchanges first though

>>3175565
Ok so maybe I don't fully understand.

So when we buy, we are buying miotas at a time. And there is a supply of 2 billion miota according to coinmarketcap. Now looking at bitcoin on CMC, the supply is 21 million.

>>3175599
I imagine it like the beginning of bitcoin.

People bought entire bitcoins at a time. There were 21 million. Now in early stages of iota people are buying miota at a time. There is 2 trillion. It doesn't seem comparable

>>3175607
2 billion*

>>3175599
Think of a single iota as one satoshi, and 1 miota as a bitcoin. 1 satoshi is 10^-8 bitcoin while 1 iota is 1^-6 Miota though

Iota is not decentralised

>>3175644
Nice claim, it's just not true though.
Tell us why it's not decentralized and we'll tell you why you're wrong

>>3175599
You have to think about iotas and satoshis

>>3175657
he talks about the coordinator - the thing which prevents 33% attacks

>>3175683
Coordinator is temporary

File: 1502306987315.jpg (24KB, 377x351px) Image search: [Google]

24KB, 377x351px

>>3175599
When you buy IOTA, in fact you're buying a MIota, which is 1,000,000 Iotas
The BTC decimal scale has 8 zeros, the MIota to Iota has 7

so you can think you're bying 0,1 btc for 0,85 cents today

oops, now it's 0,88 already :)

>>3175696
This

You are buying bitcoins for less than $10
Enjoy while you can

>>3175686
yes i know that but the other guy seems not who thinks iota is "centralized"

>>3175728
It's more like buying bitcoin at 150 though, isn't it?

$4078 / (BTCMC67379717491 / IOTMC2471021878) = $150

>>3175644
>>3175657
>>3175683
>>3175686
>>3175740

"
IOTA is currently in what should be considered a ‘transition period’ towards large scale deployment and standardization. Like Bitcoin, Ethereum and all other distributed consensus protocols before it, the IOTA network need an onboarding mechanism to provide 34% attack protection in its early days. Due to the unique underlying architecture of IOTA this takes the shape of a ‘Coordinator’. The ‘Coordinator’ or ‘Coo’ for short, is essentially training wheels for the network until the amount of organic activity on the ledger is sufficient to where it can evolve unassisted, at which point the Coo is permanently shut off. This does not mean that the IOTA ledger is currently in any way centralized, the network is 100% decentralized, every node verifies that the Coo is is not breaking consensus rules by creating iotas out of thin air or approving double-spendings. In fact any talented programmer could replace Coo logic in IRI with Random Walk Monte Carlo logic and go without its milestones right now, so technically even at present the Coo is entirely optional. The only role the Coordinator serves is to protect against attacks in this temporary infancy stage of the Tangle ledger, if we shut the Coo down the network would continue to evolve as it will in the future when it is unassisted by these ‘training wheels’.
"
>https://blog.iota.org/the-transparency-compendium-26aa5bb8e260

>>3175769
Just putting that out there for everyone to see

File: 1500590448776.jpg (126KB, 656x616px) Image search: [Google]

126KB, 656x616px

>>3175759
2.779.530.283.277.761 IOTAS
2.100.000.000.000.000 Satoshis

1 BTC = 100.000.000 Satoshis
1 MIOTA = 1.000.000 Iotas


So, correcting my previous post, you are actually buying 0,01 btc for $0,85

Grab a small loan of a million dollars and get on the new satoshi train

>>3175728
One tenth of a bitcoin*

Hmm if this were to get to Bitcoin's level per MIOTA (roughly $400/MIOTA) then the market cap would have to be $1.11 trillion

Idk seems pretty unlikely, Bitcoin's is only $67 billion

>>3175804
Yeah that seems very unlikely

>>3175804
This, but it does look like it can solve every problem with crypto.

Also can you mine this stuff? Is mining profitable? I think the main reason BTC is worth so much is because of profitable mining.

>>3175911
IOTA has eliminated the need for miners, so no. And that's a good thing

>>3175907
Sweetheart, crypto is only crawling, give it time
>>3175911
No mining, no transaction fees. 100% descentralized and independent. The tangle network is unprecedent. The sole purpose of cryptocurrencies is to eliminate banks and money people. What's the difference from miners?
Iota has no miners. Iota has no owners. Iota is what every crypto should be

>>3175934
So how can it be worth anything without mining, without some work being used to get it.

Convince me to buy this apart from its technology. Can you tell me any possible future partnership with our financial giants or easily their use-case?

>>3175943
In matters of tecnology, future implementation, IOTA is the absolute god of crypto. Imagine BTC as Raditz. IOTA is the equivalent of Majin Boo next to it. In the long run it will definitely, 100% sure, pay off.

As for partnerships, IOTA is not focused on pumping itself, so I wouldn't expecting "big news ahead" everyday as we see with OMG, monaco, neo and many other shill coins with tons of problems that go up solely on speculatiom

But if you think going from $0,88 to probably over $1,20 in the end of the year is good for you, then dive in

File: 1490778569603s.jpg (6KB, 109x125px) Image search: [Google]

6KB, 109x125px

I want some of this shit but bitifinex

>>3176084
What about it?

>>3176026
Thanks. I'm gonna buy 1 ETH of it. Cuz muh ((((diversification of top 10 cmc))))

So it seems that IOTA has zero intrinsic value because you don't need to work to get it and it can be replicated by anyone. Without mining there is no work being done to earn iota making it worthless. With mineable crypto there is value because people have worked (really just had their computers work) to earn the crypto. With crypto assets the value is backed by the worth of the purpose it serves which is the popularity of use for the asset's blockchain. Iota is different from the two only slightly, but it makes all the difference. It's worth is only tied to it's backing by BTC. This is because there is no work needed to earn it and the tech behind the tangle can be replicated by anyone including governments or Central banks which eliminates scarcity. You can make that very same argument for BTC, but if I were to make a BTC clone tomorrow you would only buy it if there was actually incentive to mine because you know others would be both mining and buying and essentially jacking up the price. If I were to make an iota clone tomorrow there would be no reason for those who haven't invested in it to use my clone.

Take this analogy. BTC is like gold in medieval times. It has no industrial use and is only good as currency or a store of value. Say you were some peasant and this is the first time you've heard of gold or people paying for stuff with it. I say I'll give you this gold bar for some sheep. You say wtf is this I want some chickens asshole. I give you the whole explanation about how why gold has value (because people attribute value to it so there is a mediator between goods that are not congruent for exchanges, it's rare, and you have to mine it if you want new gold.) You mention how you could begin using human hair as currency, it's a finite resource and if value is attributed to it then why not? It's less cumbersome to lug around than gold too. I'd say because you don't really have to work to find hair, everyone has it, it's not... 1/2

Th

>>3176166
It's not scarce there hasn't been men heading to mined working with pitchforks to mine it. I could grab some equally easy to find resource like dirt and make the same case for it's use as currency as you and we'd both be wrong because we both know you don't really.have to work to find it and it's not scarce.

>If I were to make an iota clone tomorrow there would be no reason for those who haven't invested in it to use my clone

Whoops this should say,
>If I were to make an iota clone tomorrow there would be no reason for those who haven't invested in it to NOT use my clone.

I would like to elaborate more on crypto assets. Think rlc or gnosis. They are essentially crypto tools. They are only valuable because they may have a use and people will use their blockchains for work.

>>3176166
That's a fair argument

File: OhAnonINeedIt.jpg (427KB, 1500x1125px) Image search: [Google]

427KB, 1500x1125px

It is honestly a background coin. But Okay, Anon.

That said, I want more of it, and hold a little.

>>3176089
Singapore based (HUB for financial corporations of questionable legality playing fast and loose with ethics)
"Hacked" last year and forced their losses on every account
Behind Tether USD which is backed by nothing
Evidence of exchange-sanctioned price manipulation on longs and shorts
Bitfinex employees have admitted in removed video interviews they act around the law

They have the best trading engine, but there's so many red flags about them it's not funny.

>>3176166
The value of IOTA would be in providing a working high speed and no fee currency solution to the machine economy. If they secure adoption before a competitor, there's no incentive to replicate it: how are you going to disrupt zero fees to the point you convince industries with established IOTA frameworks (in this hypothetical scenario) to switch?

It remains to be seen if IOTA will gain a dominant position first or if a challenger bursts into the scene, but the concept is sound.

>>3175016
Jesus christ so many idiots on this board.

IOTA is not a BitCoin killer simply because of its tech.
Yes it has better scalability, but by the end of the day it's the Tangle (DAG), not a Blockchain (Digital Ledger)

Know the difference between IOT and Cryptocurrency.

They will work side by side but they can't replace each other.

File: rawestfacepalm.gif (2MB, 380x280px) Image search: [Google]

2MB, 380x280px

>>3176293
And to the idiots crying about IOTA's supply. It's there to solve the IOT. Tangle based networks get faster the more they have in their ecosystem. You want as many tokens as possible. The more the better when it comes to this kind of tech. You also need a supply that can deal with the immense about of everyday tech that communicates with each other. By the end of the day the devs HAVE to keep on increasing the supply to do what IOTA was meant to do

>>3176293
>Know the difference between IOT and Cryptocurrency.
Can you explain? How will it be used in IoT in essence?

>>3176262
So nobody would profit from use of the tangle and the only profiteers would be the sellers. That would mean the incentive to change tangles would be cost. When an entity realizes that they can do what iota does if they make their own tangle then they will not pay to use iotas tangle and make their own. So it essentially would all come down to politics.

Say an economy gets built upon iota. Say an entity like the us government wants in on the action and finds the tech attractive. They say holy shit x amount of usd for iota? Fuck that we'll make our own iota. They make USD-ota and completely undermine legacy iota. Then USD-ota will eventually become too expensive for people to operate with and a never ending cycle of groups undermining each other will commence. This is because tangle technology is worthless if anybody can replicate it. It will be purely political and idealogical what type of tangle technology can succeed.

I dunno man, I like to stay away from coins that have a circulating supply of billions.

It's hard to see a big prince increase in the short term, isn't it?

>>3175937
the wallet is online. is some nerd trying to brutal force my seed right now? i used words instead of random letters i'll never remember. how less secure is my seed this way?

>>3176323
IoT = internet of things.
the DAG is a data structure [of the Tangle] where through parallel processing and its unique consensus protocol (where all in the network are participants), you can send encrypted information between appliances [We call this IoT].

Blockchain is different. For one, you can look to see how much money is on an address or see who owns what assets. You can't do this on the Tangle alone. It's a distributed Blockless* Ledger, that isn't in sequential order.

Iota isn't a short term moon coin
It should be considered a mid to long term safe investment

>>3176441
don't ignore me.

>>3176397
And that is why you will continue to buy shitcoins and stay poor

>>3176346
I feel like no one can come up with a rebuttal to this.

>>3176346
>It will be purely political and idealogical what type of tangle technology can succeed
just like whats happening with btc and bch at the moment?

It's a scam. Promising the sky to its investors.

>>3176762
Yes but those cryptos require work to create.

>>3176741
The shills are stumped

>>3176944
good. gonna save it for all the future iota shill threads

>>3176944
It is meaningless. I don't know what the future holds, but I know that the same could be said about DOLLARS or MARKS or anything else really. When you debase the debate to the degree of "what people care about", everything, including our current institutions, is meaningless. And at that point, who cares?

too many same fags on this thread

File: Flame on.jpg (83KB, 600x373px) Image search: [Google]

83KB, 600x373px

>>3176084
>>3176236

I want in on the IOTA money train, but I'm not trusting my cash to a bunch of chinks who play fast and loose with their financial ethics. Taiwan/Korea maybe. Japan, yes. Singapore/China? Hell fucking no.

>>3177594
buy iota
put in wallet
ez pz

>>3177594

You're too paranoid anon.

>>3175225
Switch ARK and IOTA and you get my exact portfolio.

>>3176166
Check mate. This is why I won't touch SHIT-OTA

>>3177786
I don't like bitcoin. It has no intrinsic value. Everybody can just create a bitcoin and call it uhm... maybe... litecoin or sth.
>muh

That's the biggest red candle I've ever seen

>>3179896
shiiiiiiiet - grab it

>>3176166

You're a typical bitcoin fagget who can't see how much bitcoin is becoming shit, from the centralization to the fees. My guess is that you've had a stake in mining so therefore you have reason to protect your kingdom.

>iota can be replaced
Uh, like bitcoin? Like the hundreds of current bitcoin replacements?

The first one in a new space, like iota or bitcoin, to make a name for itself often stays for a while, regardless of knockoffs. Lets use bitcoin as an example. It's literal trash now but people trust it because of recognition over the years and market acceptance in this space.

Iota still holds scarcity due to limited supply, although not as limited as bitcoin. In addition, iota solves problems that bitcoin has with scalability, expense, and being self sufficient. Iota's value comes from it's incredible self sufficient tech, just as bitcoin's value was largely in it's (partially self sufficient) tech.

You see miners creating value through incentive to make money. I see miners as a liability that are making buttcoin expensive, centralized, and adding fucking drama (muh bitcoin cash will fix it).

Bitcoin was the first to "remove the middle man" but now we are starting to realize that there's still a middle man (miner) and he's a fucking leech. That's not an asset to me and its value is only seen to the top 10% of miners who can afford massive rigs. Mining bitcoin no longer provides much value to everyone in this space. People want freedom.

>that will be $6 for your cup of coffee, sir.
>pays $6 plus $2 in bitcoin fees

Tell me, would you prefer a house that relies entirely on the grid or a house that is self sufficient and doesn't rely on the middle man for energy? Don't tell me that the self sufficient house has no value. Can it be replaced by something better? Of course it can, just like anything in this world. Just like bitcoin.

Bitcoin will always be a hedge but it's not useable currency.

Where can I get an IOTA wallet?

>>3180297
>bitcoin is total trash right
>1 bitcoin worth $4200

really made me think

>>3180329
You literally just have to google this.
Fecking retard

>>3180329
you can download the official wallet from github
https://github.com/iotaledger/wallet/releases
(if you are smart you google for your own - would not trust some stranger like me on the interwebz lolz - no really there is a trojan horse in the link)

>>3177594

Singapore isn't some backwater you moron; it's arguably the most developed country in the world

if you want a flexible and useful crypto you dont want:
1.mining
2.fees

>>3180347
Like I said in my post which you didn't read, Bitcoin is trusted because it's made a name for itself in this space. It's a valued hedge and valued tech. I see value in it just as anyone else does.

But if you look at the scalability, fees, and centralization - you know, the important stuff in regards to its real world function as currency - it is trash.

>>3176741
It's misguided to assume IOTA at any price is a barrier to entry. Few would care about what an unit is worth, they'd just get x fiat currency worth of IOTA.

Adoption is the biggest challenge of all. IOTA can succeed or fail, but if it succeeds, even the US government would have a hard time replacing it. You want to convince a majority already invested in the ecosystem to switch over, which is a significant economic cost (in hardware, training) as well as a psychological hurdle (people stick with what they know without an overwhelmingly compelling reason to switch). It'd get significant pushback from people not interested in an American government product over a politically neutral one - and those people are most of the world.

Bitcoin doesn't derive its resilience to govt involvement from proof-of-work. PoW is just the system used to guarantee network strength and distribution. Any governement could fork the open source code and get some server farms started. What protects Bitcoin from would-be usurpers is recognition. Hash power is the consequence of adoption, not the cause. If IOTA get their tech right and in time, they can capture much of the market. It even benefits more than Bitcoin from network effects, as the Tangle is faster the more people use it.

Invest in IOTA or not... there's no guarantee it will secure this critical adoption. But arguments ITT to claim it will fail are wrong.

File: 1495114300807.png (825KB, 700x700px) Image search: [Google]

825KB, 700x700px

>>3176346
Right.

So, for example, Ethereum is considered a potentially decent basis for creating an Internet of Things because it already has a large network of miners, and the larger the network becomes, the more secure it is. This acts as a disincentive to copy cats creating what are essentially variants of the Ethereum Virtual Machine, because their coin wouldn't have a comparable network of miners, and consequently would be less secure (although it the tech was arguably better, miners could adopt it, but it would take time, and miner adoption is typically a slow process).

Anyway, the point I was getting at is, how can IOTA ensure that it won't be replaced by a different Tangle based currency? As previously mentioned, Ethereum has significant miner support based on a large scale network. If IOTA has no mining to start with, what incentive is there for individual or networks to buy it, when they could just develop their own tangle currency for a lower price?

>>3180635
i think its mainly first mover advantage, the branding and ofc the community. for example im running a iota full node because i believe in the idea and i want to be part of the iota community. dont want to say that your points are invalid, but more people using the tangle the more secure and the more faster it gets. so you could say the actual "users" are the miners. only that users dont care about to make profit of of securing and fasteing the network like miners does.

Realistically, with a 2 billion supply, how high could the price for this even get?

File: Screenshot_20170807-233112.png (2MB, 1440x2560px) Image search: [Google]

2MB, 1440x2560px

>>3180347

This is the guy arguing against Iota?

What a joke.

Bitcoin is 4200 BECAUSE its the first mover and originator of blockchain tech.

Iota will be worth $42 in a couple years BECAUSE it is the first mover and originator of tangle tech

This argument about someone being able to emulate is fucking retarded.

Of course there will be competition. More competiton is good for Iota. It builds the credibility of Tangle tech. And since Iota is to Tangle what Bitcoin is to blockchain, Iota will benefit from a growing user base.

Your logic could be used for Mcdonalds. Well why would i buy a mcdouble when I can make my own fast food burger joint and have free mcdoubles and charge people for theirs.

Well because McDonalds has spent decades refining their craft and business model.

Thats a fucking burger chain, now imagine a complicated protocol like a Tangle based ledger.

Good fucking luck having the US government, or any government sans China, have the ability to make this without it costing hundreds of billions of dollars before it falls flat on its face.

Your argument is based around government copycats. Well unless youre a communist you understand that government can not keep up with capitalist innovation

Take your theory and bring it to every thread and I'll smack you down like the bitchass you are.

>>3180635
Because IOTA is unsecure until the network becomes huge. After that it's very very secure. A clone would never get the kind of adoption that it needs to be secure, and would be extremely vulnerable.

IOTA right now is not working as intended. Security is being assisted until the tangle is big enough to support itself.

>>3180994
Did you not read what he had to say. Iota is dirt while BTC is gold. There is WORK to be put into BTC which is one reason why it's so valuable. There will be no one profiting solely off people using Iota. Only the sellers profit. Bitcoin is scarce because even though anyone can clone it there is no blockchain with as much mining power and the incentive to make money through mining is the DRIVING FORCE of Bitcoin's high value.

IOTA's only value is that it is backed by BTC as someone said earlier in the thread this will never replace blockchain. IOTA is easily cloneable as is BTC, but the difference in value between clones is dependent on how much mining power is put into the crypto. Since tangle does not require mining then any clone could come along and replace it far easier than a BTC clone would be able to replace BTC.

Here's a scenario for you tangle-tards. I make GenericExactBTCClone tomorrow. GEBC is a complete copy of Bitcoin's current tech but starting from a clean blockchain. I go on /biz/ and bitcointalk and say, "look at this new crypto you faggots it can be just as valuable as BTC, it will be worth 4k USD one day! It can be used exactly like BTC, but it is goes for pennies on Yobit!" What will happen is GEBC will gain no traction and little value as it would never accumulate the mining power of BTC because established miners would not switch to GEBC. They wouldn't want to risk their capital mining something other than BTC because they know GEBC's mining network will never come close to BTC's. Unless there is an impossible political and idealogical shift to switch to GEBC.

Now as for IOTA and the tangle technology that it is based on. Let me first start off by saying if you think it costs millions of dollars to develop something like iota than you might be literally retarded or just plain shilling. The 'guts' behind the tech has already been published, it is open source and can be read by anyone. You could... 1/?

>>3180994
Eh, maybe. You're making an analogy between a physical business model and a cryptocurrency. I doubt the veracity or this analogy because you can't just copy and paste a physical business for practically no cost, whereas with crypto it is trivial to copy a coin's code. My point is, why would anyone buy IOTA when they could just copy the code and make their own version of the ledger? There's no mining involved...

>>3180994
>>3181233
>>3181052
probably find a few pajeet coders to copypasta their white paper and make Pajeet-ota.

Now let's say iota has gained traction and is being used by businesses and individuals. It's actually popular and much more expensive now. Microsoft wants to start using the tangle and looks into Iota. They say, "hahaha no thanks I'm not paying this much for 1 iota these idiots didn't even patent this tech because of 'muh decentralization." Why buy this when Pajeet-ota is only .12 USD on Yobit! It is the exact same!" Or more realistically Microsoft hired competent people to develop Microsoft-ota, and just like that iota is completely undermined because not only does Microsoft start using it for various business procedures they start selling it to the public for 1/26 IOTA's current price. This doesn't even have to happen with a company as massive as msoft either.

Hold on now tangle-tards are gonna say, "but they could do da same thing with blockchain :'(((" They very well could, but they wouldn't be able to get MINERS to switch to Windows BTC.

>>3181233

Youre implying that this is not an innovation from Bitcoin.

Its not GENERIC BITCOIN 200

The tangle tech is vastly superior to blockchain. Sure there will be competiton, but Iota has first mover and since theyre the creator of the technology theyll have a huge competitive advantage.

If you concede that tangle is superior to blockchain, ill concede that Iota is more susceptible to being replaced by another TANGLE tech than Bitcoin is susceptible to being replaced by another blockchain.

And wtf are you yammering on about how Iota is backed/reliant by BTC? Thats utterly false and shows how little you know about Iota.

File: rai.png (3KB, 225x225px) Image search: [Google]

3KB, 225x225px

RaiBlocks and its trademark block-lattice structure is the superior scalable instant transaction and zero fees by design cryptocurrency. It also has third worlder captcha farms -- a unique way of giving work and a helping hand to those in need.

The future is now. Buy RaiBlocks.

>>3181343
>>3181233
>>3181052
>>3180994
And I would like to add that Satoshi realized this as well. He realized BTC would be worthless without mining and scarcity and if he had thought BTC through as you are now it actually would be worthless. Satoshi would have developed something like tangle but he knew it could easily copied by anyone and undermined by a more powerful entity at any given time.

>>3181343

This couldnt happen for 2 reasons.

First if Iota is being used for IoT devices, it is creating a vast interconnected network for all of these devices. If Microsoft-ota became a thing theyd have to find a way to intergrate into those machines. So youd likely have some type of Ark coin to join the multiple chains.

However this becomes impossible because an Iota transaction wouldnt validate a Microsoft ota transaction. So the infrastructure would fail.


Iota's value proposition is to be the one to penetrate this market to create the backbone for IoT. If this happens it 1000x's and creates a virtual impenetrable barrier to entry to any -ota tech like youve described

>>3181361
I never claimed iota wasn't innovative and great tech. I just know iota won't be worth as much as you would all like it too. I never said it was generic BTC either. It is most definitely an innovation. It is superior in many ways, but not in profitability.

>>3181404

The only way a microsoft-ota or USA-ota would be feasible if they only discussed with their own brand of devices.

However a private company like Iota can offer this service to devices of hundreds of different manufacturers with no incentive to do otherwise.

This is a pretty original criticism you guys are throwing out there, no doubt. I appreciate you expanding the discussion here

>>3181404
This anon knows what he's talking about.

>>3181420

Then yes an Iota is much more likely to be overtaken than a Bitcoin.

However i believe if this company can achieve market penetration, if it creates a vast interconnected "machine internet" then there would be no way Iota would allow a 3rd-party tangle chain to interact with it.

Hence it builds its own barrier to entry by becoming the first to be adopted.

File: maxresdefault (2).jpg (175KB, 1920x1079px) Image search: [Google]

175KB, 1920x1079px

>>3181404
Except why would IOTA achieve dominance in the IoT if the currency can be easily copied... You're putting the cart before the horse.

Look, BTC has value mostly because it is mined. IOTA isn't mined, therefore anyone could simply copy the code and make their own version of the ledger for pennies. So no one who seriously wanted to use this tech would actually buy IOTA, which as far as I know, isn't even patented. Because of this, IOTA, while being innovative, ironically isn't worth anything because it's too easy to replicate, and there is no reason not to.

these types of threads are productive

> tangle network
> byteball (gbyte)
Same technology except byteball has a working wallet with a chat not ecosystem. Don't forget to pick some up. I hold both.

>>3181503

I would assume its not truly that easy to replicate.

And im not putting the cart before the horse. This is cryptocurrency. All of us are speculating, but Iota is speculating in an upcoming world-changing industry and is the first one to solve major issues with cryptocurrency.

If there was any coin to speculate it would be Iota.

If another tangle coin comes out I will definitely purchase to hedge my bet

I find it hard to follow this argument though. I mean have you ever heard the expression "reinventing the wheel?"

PS. Iota is already partnering with Microsoft and VW, and who knows who else. Its the first cryptocurrency to gain traction in IoT

If Sony company created a tangle coin/tech, why the fuck would Apple allow its devices to interact?

They wouldnt, so there has to be a neutral 3rd party: hence IOTA

Sure youll have a couple huuuge companies use their own tangle tech like Apple or Walmart even.

But all small companies will want to use a 3rd party platform so their devices can be integrated with the web 3.0 aka machine internet aka Internet-of-Things

>>3181404
Good point I do not disagree with it being so high value because it has first of it's kind status and the ability to develop better infrastructure than a clone because of it.

But when we apply it to real world use by businesses and iot the killer of iota would undoubtedly be cost effectiveness.

Say there is a well established iot infrastructure that runs on iota in the future, and iota is being sold for much more than it is now. New businesses that come along may not want to pay so much for their iot devices to use IOTA's tangle and knowing how iota can easily be cloned they will seek out the CHEAPER clones.

Take this scenario and this is one that I feel would be the worst for iota;

In the future IOTA's infrastructure is serving a massive iot network on their tangle. This has caused the price to skyrocket. I'm sort of repeating what I said before, but businesses will not want to buy iota because of it, even if they have the best iot infrastructure around, and no one has made any attempts to undermine it. All it would take is a few tech companies to develop a clone and start using it, for a fraction of the price their infrastructure may not be as connected but it will grow because of the cost effectiveness. Now here's the worst part. Anyone can develop an iota clone as we know. What's stopping someone from making "Cheap-ota." It's the same as iota but to get Cheap-ota you can only buy it from one place and that's Cheap-ota INC's website and it is always sold for 1/200 of the price of Iota. This kills the IOTA, and would work since it needs no miners.

There is a very intelligent team behind iota and it's equally intelligent tech, but they made one mistake. They should've patented Tangle. And that's the end of the story.

>>3181570
Answer me this, if there are no miners, how is the network secured? Are there nodes? Is network security proportional to the number of nodes in it, provided the nodes actually exist?

I will read the Whitepaper at some point, just hoping some more enlightened IOTA fans could explain the tech better. You will have to do this at some point if you want to masses to buy this coin.

>>3181503

And how do you secure the network if it relies on a shitton of transactions that verify and secure eachother?

>>3181529

It's almost like REEEEEEEEEEEddit

>>3181638
right now it's secured by centralized payment processors. but don't worry, they're only "temporary" lol

>>3181585

No its not the end of the story.

You're missing the point. Iota, if successful, will create a vast network where many many different entities will be using their protocol to navigate the world of IoT/ Machine internet

You cant create a minor cheap-ota because thise devices will be incompatible with the rest of IoT which is reliant on Iota.

You dont think Iota would block out these other Tangles? What would be their incentive not to?

The -ota that captures the majority of IoT marketshare becomes the machine internets standard of use. Period.

There wouldnt be compatibility between devices if every company that felt like it wanted to make a tangle tech

ALSO i dont believe you people realize that there are 1,000,000 Iotas per Miota.

The price of 1 Miota today is $.85

The price of 1 Iota is .00000085

Price competitiveness is no problem if everything is 1/100 of a cent

Demand dictates price but supply does too. Thats why there are so mant Iotas...

>>3181671
im gonna eat your ass if you dont cut it out boyo

>>3181638

Yes there are nodes, and the more nodes there are the more secure the network. So it becomes more secure, and faster as more users and entities use it.

>>3181715

That's my fetish :^)

File: IMG_20170823_110037.jpg (65KB, 639x645px) Image search: [Google]

65KB, 639x645px

>>3181737
Ok, so if that's the case, then first move advantage is a real possiblity.

[SoundCloud] Ether Review #69 - IOTA & the Post-Blockchain Era by Arthur Falls (embed)

This is worth a listen as it answers a lot of the questions here.

>>3181787
https://soundcloud.com/arthurfalls/ether-review-69-iota-the-post-blockchain-era

fixed link

>>3181585
Wow, this is so wrong. Do some research.

A few hints:
- You can send 0 IOTAs, which means that you can use the tangle without any investments
- The tangle only works fast and efficiently if there is enough traffic. Cloning isn't as easy as it sounds.
- There is some kind of PoW but it's part of the transaction

I could go on with this list but I'm to lazy atm

>>3181779

I didn't read the whole thread but:

First movers almost always have an edge over their competitors. Don't underestimate that.

It's about goddamn time you fags woke up

>>3181714
https://twitter.com/iotatoken/status/886178658934804486 just to add

>>3181801
yep you can send data with a 0 balance

>>3181714
I'm telling you that we can create "Cheap-ota" and something like it WILL be created when business get sick of paying for new IOTA or new business don't want to pay for their initial IOTA. Their iot network won't be connected to IOTA's but they won't care, they know that any new kid on the block will go for Cheap-ota, and the old school it's users will get sick of paying for new IOTA.

I wish I could code because if I got a group together we'd kill IOTA in half a year. We'd make cheap-ota from copying IOTA's white paper and code, and sell mcheapiotas for .000002usd a piece. IOTA would stand no chance and be dead before they even took off, and there are probably people doing this right now, and if there aren't they are now. I see you are passionate about your investment. Tell the guys at Iota that they need to patent Tangle because it's the only way they'll survive.

>>3181801

>you send 0 IOATs

I could also go to a restaurant without money but you don't know how far you'll come.

>>3181857
Stop posting already. Faggot.

>>3181857
Jesus christ man, you wouldn't use IOTA to just send information, you would use IOTA to send value!
Sensors would sell data for IOTA, why the fuck would they sell data for cheap-ota?

>>3181857
lol x) ofc mate gl

>>3175519
Give it time
it's still not even 2 years old

IOTA in 2 will stand up to BTC, write it down

>>3181877
Data integrity is a huge part of the IoT and you can send hashs with 0 IOTA.

>>3181857
Your cheap-ota would be slower and less secure what the fuck is this bait

>>3181913
How?

>>3175934
Can someone explain to me how a system can sustain itself without fees? Will people just process the transactions for free?

All I hear is hype
>muh zero fees

>>3181942
Will your cheap-ota give me a handie as good as iota?

>>3181942
Do you even understand how iota works? Read the damn whitepaper faggot Im not spoon feeding you

>>3181962

Watch some youtube videos on it
Every time a device initiates a transaction, it will simultaneously validate two previous transactions. Thus the device is doing the POW for those 2 transactions.

If you dont understand the words in what i just said, then you need to go do some serious research

>>3181962
To make a transaction you have to verify two other transactions

>>3181857

You just went full retard.

Go ahead and do that buddy. Ill be the first to buy 100k

>>3181857
> I wish I could code because if I got a group together we'd kill IOTA in half a year. We'd make cheap-ota from copying IOTA's white paper and code, and sell mcheapiotas for .000002usd a piece.

"no."

first off, the whole reason iota would have value is because systems would be configured to accept it. Similar to how BTC has value even though you can just make more shitcoins (or even forks) that anybody could accept for "less". I agree that your imaginary team could clone iota... and then all you would need is industry buy-in and integration into the embedded systems that are all written to communicate together. gee that probably takes no time and money and relationships and momentum to establish (see the clusterfuck that is IoT right now)

Second, the value you are transferring is still "real" even if you are using a different protocol or currency that is easier to acquire in fiat. so you would just be sending some quantity of cheapota that "cost less" which means you would literally just be sending a less useful representation of the same underlying value

so even if you made a clone of iota AND people were using it, you would still be sending the same "value" ("ill give you some amount of this coin to use my utility service") which would map to either some number of SATS or some $fiat.

> my currency is half as cheap as IOTA
> ok, pay me 2x your shitty currency instead

>>3182099


>those last lines

My sides

>>3182042
>>3182044
So zero fee is in fact a misnomer, the processing power to process a transaction is in fact the fee. It means that if someone needs to send many transactions, they may need some serious hardware so the Iota is sent out in time.

I have 300k worth. I will be a millionaire by end of the year.

>>3182144
They are making lightweight ASICs for that

>>3182180
Congrats, when did you get into it?

t. hodler of 175 Gi

>>3182057
>>3181973
>>3181913
You think my Cheap-ota will be slow, insecure, and die because I won't have people on the tangle carrying out transactions. That's bogus and here's how I could do it.

We make "Cheap-ota" it's a copy paste of iotas code and white paper. Oh look we have nobody that wants to participate in the Tangle and upstart the initial network, whatever easy fix. I hire people to do nothing but verify transactions and use their computing power to build the Tangle. I give them incentive by promising them x amount of profits from purchases of mcheapota from cheapota incs website, the only place where you can get cheapota which I will peg at a price that is 1/200 of a miota right now. The perfect people to enlist for this are crypto miners since they have the computing power. We build cheapotas tangle and they are allotted profits from purchases of mcheapota for life. The network grows organically from there because of the cheap price.

Just admit that tangle needs to be patented.

>>3182144

The cost to verify 2 transactions negligible, especially since the entity is already interacting with the network

>>3176166
>the tangle can be replicated by anyone including governments or Central banks which eliminates scarcity

Literally bitcoin.

>>3182180
>>3182202
sick larp bros

>>3182185
>to send lots of transactions you've got to buy this special asic
Kek, that's not "zero fees"

>>3182214

Thats a blockchain you fucking retard. Not to mention there will now be fees which will make micropayments unfeasible

Go read up on how Tangle works.

File: 123412341.jpg (24KB, 500x436px) Image search: [Google]

24KB, 500x436px

>>3182214
are you actually retarded just fucking buy iota

>>3182225
u jelly bro?

>>3182224
This. Isn't the entire crypto sphere just a massive Bitcoin ripoff?

Every argument against iota could be the same argument against bitcoin.

These Bitcoin enthusiasts are starting to sound like the gold enthusiasts back when Bitcoin was starting out, saying "pshhhh what value does this internet fake money even have?"

Yet today, gold still has value. Bitcoin has value. And iota, it successfully implemented, will have value.

___16,522,175 BTC
2,779,530,283 MIOTA

16,522,175,000,000,000 sat
_2,779,530,283 000 000 iota

what.the.fuck

>>3182227
If there was no PoW to prevent against sybil attacks the network would be extremely vulnerable, especially at the early stages. The ASIC will not be a fucking antminer, it will be extremely small and lightweight, and most people wont even know it's in their phones

>>3182202
At around 30 cents. It will be 5 dollars at year end.

>>3182228
No it only pays like one. To make the Tangle secured in it's infancy we initially need many seeds carrying out many transactions right? Those many seeds will be the people I hire and promise a percentage of profits to. They build the Tangle, make it secure, it is realized to the public and secure because I've enlisted so many people, then people start buying and the initial tanglers get their profits from each sale going through the website.

>>3182319
It's time to stop, anon

>>3182319

I genuinely hope you do this and waste all your money. Ill drive by in my lambos and throw a fistful of clif bars at you

>>3182299
Most people won't have fees to worry about, however, those who need to send lots of transactions need to figure out a hardware solution. For instance, consider an exchange website. Wouldn't it need to implement some PoW on its Webserver whenever someone wants to withdraw their Iota?

>>3177594
>>3180377
Hongkong, not Singapore

>>3182144
are you a real person?

>>3182330
>>3182335
>We have no rebuttal anon.

>>3182313
Let's hope so. Godspeed, Anon.

>>3182350

You still cant beat my argument about first-mover advantage, which will create a ironclad barrier of entry to interact with IoT devices already tied in with Tangle

So until you can, go get fucked anon

I love that people just open their mouth without knowing what theyre talking about. We need more of that on /biz/.

(for the spergs, this was sarcasm)

>>3182290
there's one too many 0 on the sats, it's actually 1,652,217,500,000,000 sats.
1 btc is only 10^8 sats not 10^9

>>3182383
I thought I did with my cost effectiveness argument. I feel like your first mover infrastructure would only be ironclad if everyone hopped on board iota at the same time.

Also something else I just thought of. Couldn't the infrastructure that iota is trying to provide for iot devices be accomplished with a simple protocol or just some proprietary software/firmware?

>>3175016
iota may be good for machine2machine transactions, but it will never replace bitcoin as a store of value for us humans.

File: 1497211570293.jpg (679KB, 3008x2000px) Image search: [Google]

679KB, 3008x2000px

TL;DR

People buying iota:
>smartest tech out there
>tangle network
>no abusive fees
>no miner cartel
>completely discentralized network
>instantaneous transfers


People who dislike iota:
>"it has no real value, the government could create another iota if he wanted to!"
>"why would i buy an internet coin if i can just create my own coin???"
>basically every argument we have read in the past regarding bitcoin. we saw how it turned out
Be smart boys, buy iota

>>3176166
>bank created IOTA clone
>no one uses it
>system is unsafe, slow and unreliable as a result
>people stick to IOTA as its already adopted by a lot of people and thus safer and more reliable

Just because a faggot bank copies the code and makes their own version doesnt mean it will be adopted. Firstly, no one who already uses IOTA will drop IOTA for a clone as it will undermine the value of their IOTA tokens. Second, no newbies will use the unsafe, non-adopted clone over the safer and faster original.

Your argument simply doesnt hold water.

I would buy this coin but it's not on Bittrex

>>3182807
get on bitfinex then, it takes like 10 minutes, that 10 minutes could save you a lot of money.

>>3175016
Can someone give me a quick rundown how to buy IOTA? Anyone willing to sell at market?

>>3175696

I bought 109, so I basically have 109 milion iotas?

>>3181343
>Microsoft would just steal IOTA's code and make their own version!

Microsoft is literally working with IOTA. If it was so easy for a big company to copy paste the code Microsoft would have done just that.Instead, they are cooperating with IOTA devs in developing IOTA.

>>3181857
Kek THIS is the kind of arguments people who dontlike IOTA come up with.

>durr if I make a cheaper clone everyone will adopt it instantly even though its slower, not connected to the rest of the network thus basically non-functional, and less secure

>>3182826

Bitfinex hates Americans now, right?

>>3183283
Google Chrome > Acquire Hola Extension (Choose a Country that Bitfinex accepts) > Voila!

>>3182144
>God juts lost 0.25% of charge in my phone battery what do

>>3176407
How fucking hard is it to type 81 letters and paste it in a txt somewhere named "grandma's chicken recipes.txt" ?

>>3181503
One MioTa is only $1. Even if it goes to $30, and say, Microsoft needs some IOTA for their Microsoft IoT, let's say 100 Billion IOTA (I don't even know why they would need as many), it's only 3 million dollars.

3 million dollars is NOTHING for a company this large.

How much do you think it cost to actually R&D some Microsoft-IOTA coin ? Yeah, 10 times that, easily.