IOTA

Discussion in 'Digital Currencies' started by leo25, Nov 14, 2017.

  1. leo25

    leo25 Well-Known Member Silver Stacker

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    Just want to create a dedicated thread for IOTA as it's starting to become better known.

    IOTA is still a very early beta project that is trying to improve on blockchain tech.

    Ill list a few features to give a quick snap shot on what it's all about;

    [​IMG]
    -Uses a tangle (3D Parallel connection) network instead of the blockchain (2D Series connection).
    -No centralization.
    -designed to work at large scales/ high volume.
    -No need for dedicated miners.
    -No transactions fees.
    -Every time a user makes a transaction he must first verify 2 other transactions.
    -The user is also a validator/"miner".
    -No limit of transaction per second.
    -Built in the ability to cull old unused transaction in order to keep the tangle from getting bloated.
    -Designed more in mind for machine to machine communication.

    This podcast is very informative.
    https://soundcloud.com/arthurfalls/ether-review-69-iota-the-post-blockchain-era

    Good intro video


    Good video showing where IOTA is atm. Far from final product.


    This has more detailed info on the video above.
    https://forum.helloiota.com/105/Help-My-IOTA-balance-is-zero-steps-to-help-you-find-your-balance

    I've always had issues with current blockchains as i always saw they ran into some big issues when working at large scales. Also the separation of the user and verifier was also an issue that is now starting to show problematic in current cryptos. IOTA was design with scale in mind and also removes the separation of user and verifier.

    IOTA still has a long way to go, but i really hope the developers are able get it all working.
    I'm still learning about IOTA, so please provide any other useful videos/ info you have come across.
     
    Last edited: Dec 14, 2017
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  2. dozerz

    dozerz Well-Known Member Silver Stacker

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    has anyone been able to setup the wallet? i know the network seems to be under constant attack and not reliable but the manual adding of hosts is a real pain. interested to hear of anyone who has had some success?
     
  3. leo25

    leo25 Well-Known Member Silver Stacker

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    Na it's still to early in development for me to play with. But watch that video i linked, as that guy goes through the process.
     
  4. Soprano16

    Soprano16 Well-Known Member Silver Stacker

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    I commented on IOTA and the wallet in the ALT thread earlier today

    I did set it up initially a couple of months ago, but then I tried to log in yesterday and it's just a pain the ass. I decided to just uninstall it and move on as I don't own any IOTA at the moment anyway

    I've read of people losing their funds due to multiple address use too

    There are step by step guides on reddit showing how to set it up, but between the loss of coins, manually adding hosts and overall clunkiness I really hope a new wallet is released soon, because the current one is horrible
     
  5. Brendio

    Brendio Active Member

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    I installed the phone app a while ago. Just checked back in to check with with all this talk about IOTA. It is asking for a password, and I can't find it in my password manager. Seems I sent 5 IOTA to to test. The rest I left on the exchange. I was thinking about increasing my investment, but I am not okay with leaving it on an exchange long term. Hmm.
     
  6. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    IOTA has serious hacking problems, and I would never use a private seed or public address more than once.

    The Bitfinex exchange also lost a huge pile of IOTA during a transfer to my wallet about 2 months back and there's very little feedback from them. They have no phone number and no physical address listed on their site, so all you can do is send messages which they can just ignore for a month, and only then say they're looking into it. I'm still trying to determine what legal options I have.
     
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  7. Andy28

    Andy28 Member

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    It just keeps chugging along with green candles. You would think a pull back was imminent, nearly everything around it has gone up and down, but this thing just keeps heading for the moon.
     
  8. SilverDJ

    SilverDJ Well-Known Member

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    Not really:

    [​IMG]
     
  9. southerncross

    southerncross Well-Known Member Silver Stacker

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    Iota and Walton together would/could be a real game changer for TIOT and the tech already exists for it to happen.
     
  10. Andy28

    Andy28 Member

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    lol sure if you look at its entire history. I am talking about this latest period in the last month or two since the announcement of the forks. It has played havoc with many cryptos but IOTA seems to not mind at all.
     
  11. southerncross

    southerncross Well-Known Member Silver Stacker

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    IOTA is a different beast compared to nearly all current Crypto's. People need to get their head around the fact that it is a machine based blockchain "type" as opposed to a user based one. And it is not based on a blockchain per'se at all. It's design base is for machines, not humans, and as such the Tangle at it's base is not intended for human consumption at all.
    This tech can and will transform both industry and the interaction of it with the I.O.T's. People are unaware of just how much every aspect of their life has some aspect of intelligent machinery already in their life, Bluetooth speakers, appliances with apps', self parking cars, custom Aircon. etc etc...
    All of this stuff is growing each and every day and the industrial applications of all this tech far outweigh the end user applications already.
     
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  12. southerncross

    southerncross Well-Known Member Silver Stacker

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    One thing I think you might be missing here Bullion is the greed factor. Most people are unable now a day's to sit back and let an investment cook over time, most are unable to accept that if it does not perform in a minimum time frame then it is an anathema to them. In turn they will just dump an investment, even at a loss if it is not living up to their instant gratification expectations.
    And this in spite of the underlying technical advantages that X product may offer.

    I also think that this might come back to people "investing" money that they are not willing to lose. Everybody hates to lose, but in the world of investment , invested money is gone money straight away to my mind.

    Greed has it's drawbacks if anyone was wondering, and greed's bed partner is impatience.

    Greed and Impatience = loss.

    Patience sleeping with Investing on the other hand is a beautiful relationship, as time and again Time and Patience based on a solid relationship with Investment has nearly always proven a win win for all over time.

    Then again it all depends on who your bed partners are right ? Are they solid, or just out to Fuck you ?
     
  13. southerncross

    southerncross Well-Known Member Silver Stacker

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    BTW, Thank's Leo for putting this thread up here at last for our SS crypto crew. As Iv'e already admitted I didn't quite grasp it at first and must admit that I don't still totally get it all really, but your grasp of it and personal explanation has been a great help and one of the reasons I bought in a while ago.
    I think Bugged might of been right when he referenced us both as a mirror image of each other a while ago (sort of) I still don't agree with you, but I do respect your point of view and nous on such things.

    >>> BTW, I think you are wrong for pulling out of the Crypto Market right now. A person with such a contrary view could clean up in such a market instead of withdrawing from it. Also where did you retreat to ? Fiat or PM's?

    That aside, thanks for the insight into IOTA, as despite my initial reluctance, your savvy of it really opened it up for me. So thank's M8.
     
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  14. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    I sold yesterday @ $1.07 and am regretting it now

    with it sitting @ $1.47
     
  15. leo25

    leo25 Well-Known Member Silver Stacker

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    No worries, I'm happy to help.

    The main reason i entered the crypto space was to understand and learn what's going on, money was a distant secondary reason. For that reason i never put a lot of money in, just enough that if i lost it all it wouldn't be a deal breaker. Once i learned enough to satisfy my interest and once the market started going down a darker side I pulled out. It's all a game, so once I no longer found the game fun there was no point me playing anymore. Lucky for me, i not only got to learn and have fun with it all, i also made some money which went to me having more enjoyment. So as i see it, I'm winning. Money alone has never been a big driver for me. I just like learning new things purely for the fun of it and atm i have other projects i want to engage that i find more enjoyable. Having said that, maybe in the future i might find it fun again or I might have a legitimate need to use cryptos, but for the time being I'm happy just to watch how things progress.

    All the best to all that are still in it, I'm sure there is a lot more money to be made.

    P.S. I did keep a small amount in a paper wallet in case there is something i need to use it for one raining day :)
     
    Last edited: Nov 29, 2017
  16. Phiber

    Phiber Active Member Silver Stacker

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    Any wallets now up to scratch?
    Exodus has no plan to support it, shame
     
  17. Soprano16

    Soprano16 Well-Known Member Silver Stacker

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    The past 24 hours or so have really kicked my ass

    10 days ago I was going to load up on IOTA, EOS, Cardano and Stellar as well as a few others but decided not to stretch myself across too many so went with the others on my list and those 4 missed the cut

    FML :(

    As for an IOTA wallet, I planned on just keeping it on CoinSpot for the time being
     
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  18. southerncross

    southerncross Well-Known Member Silver Stacker

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    Whats your guess as to where, how high Iota can go BB ? 2.7 Billion on the market, but the future just seems to have so much potential as well.
     
  19. Bosse68

    Bosse68 Active Member Silver Stacker

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    I am a total noob when it comes to cryptos
    Can you recommend a wallet that can handle IOTA
     
  20. southerncross

    southerncross Well-Known Member Silver Stacker

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    I personally don't see the Bubble potential happening, the momentum is just starting to gain ground in the mainstream. Plenty of potential for pullback's for sure but the Bubble potential is way off over the horizon. Bubbles occur where there is no underlying base or where the item concerned has no base/intrinsic value.
    With Crypto the value lies in the differential it offers compared to Fiat and/or the derivatives market offered by the mainstream financial markets.
    Nearly every financial instrument that exists today is manipulated in one form or another, Paper markets such as Gold or Silver, Oil, Commodities, Fiat exchange, the whole kit and Kaboodle is corrupted in one way or another.
    Crypto's on the other hand run 24/7, and are free of the restrictions that bind all other markets and run mostly on peer to peer transactions with the only middle man being the exchange site, no interference from .Gov, .institution, .regulations . People just do what people do.
    As a result there is clear price discovery for each and every Altcoin hour by hour and day by day.
    This is one thing that I think makes a huge difference between Crypto and the conventional investment market, .Gov and .Banksters are at arms length for now.
    Once they enter the market it will spike hugely yet again as a result.
    Can they change or regulate it ? Yet to be seen, but just the mere fact that mainstream banking will get involved is huge, and is happening now.
     

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