IOTA

Boozer

2[H]4U
Joined
Mar 11, 2004
Messages
2,348
o well then I'd be in the same boat haha. Buying so I can transfer it to binance to buy more iota.

I wouldn't say you would be in the same boat. You'll have your money there now instead of waiting 5-7 days via ACH. Buy ETH with credit card and transfer to Binance. Buy IOTA with ETH. The ether network has less fees and processes transactions way faster than BTC. It took me 5 hours to transfer BTC to Binance. Transferring ETH was 20 minutes tops.
 

RevMen

Limp Gawd
Joined
Feb 22, 2004
Messages
460
Except that the damn cats have got the ETH network so clogged that BTC is actually faster now. Better to use LTC if you want speed.
 

hey_pig

n00b
Joined
Dec 8, 2017
Messages
5
The rumors are that Microsoft is going to try and include IOTA nodes in all IoT devices AND windows 10+. So Microsoft is going to force your PC to be an IOTA node wether you like it or not. The "partnership" with MS was just MS buying into the ICO. Be aware this sounds awesome but its going to turn into a Microsoft backed crypto for their bidding.

Pump and dump.
 

RevMen

Limp Gawd
Joined
Feb 22, 2004
Messages
460
The rumors are that Microsoft is going to try and include IOTA nodes in all IoT devices AND windows 10+.

Just a basic study of how IOTA works reveals that this makes no sense. You can't put a node on an IoT device because a node has a copy of the tangle. I mean, you can, but why would you?

IOTA was designed so that signing a transaction can be done separately from attaching a transaction and it seems likely that this is how most IoT devices will interact with the tangle (through a separate node).
 

hey_pig

n00b
Joined
Dec 8, 2017
Messages
5
Just a basic study of how IOTA works reveals that this makes no sense. You can't put a node on an IoT device because a node has a copy of the tangle. I mean, you can, but why would you?

IOTA was designed so that signing a transaction can be done separately from attaching a transaction and it seems likely that this is how most IoT devices will interact with the tangle (through a separate node).


There is no need for the full tangle to be present on a device, see this info from one of the iota devs quoted from here:
"
A single transaction in IOTA currently takes up 2048bytes on disk (1650bytes is sent via udp when you send/receive a transaction). So you can calculate for yourself how large the local database right now is.

But obviously because IOTA is specifically designed for IoT, there are several reasons why the Tangle size itself is not a huge issue:

  • We do snapshotting. Meaning that the network can simply snapshot the Tangle if it grows too large. This way we can keep the tangle db size itself at a minimum locally.
  • Lightclients. Because of IOTA's simplicity and flexibility, lightclients are considerably more lightweight and efficient in IOTA than in any other Blockchain. Most importantly, we can have lightclients where a toaster or any other IoT device simply signs the transaction and another processing station does the hashing and attaches the transaction to the Tangle then (this is what's enabled with the new API calls, where we added a lot more flexibility to the system). This way our tiny IoT device does not need to have the entire Tangle stored.
There are various different approaches for lightclients in IOTA (from trustless to trusted). Maybe we'll write a blog post on lightclients soon.

"


IOTA will quite literally end up as a Microsoft payment gateway with forced participation, come back to this post in a few years and you may agree with me. The dev literally says "where a toaster or any other IoT device simply signs the transaction".
 
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RevMen

Limp Gawd
Joined
Feb 22, 2004
Messages
460
What you posted exlains "lightclients" which is exactly what I'm describing. A light client is not a node. A light client uses a node.
 

hey_pig

n00b
Joined
Dec 8, 2017
Messages
5
What you posted exlains "lightclients" which is exactly what I'm describing. A light client is not a node. A light client uses a node.

You are correct in that statement. My point is that with End User Agreements, Microsoft can and will force this on us. It all boils down to your views of freedom and privacy on the internet. I will admit I rode the hype train the other night and bought in at $2.18 and dumped at $4.22 after reading and realizing what I had just bought. Dumping it for me is kindof from a moral and anti-giant corporation point of view.

IOTA is a decentralized network with a new database type stamped on it vaguely having to do with blockchain technology. Why this is being sold as a coin is a myth to me, but you know, hype train and bad investors will explode any worthless idea in this sector.
 

TypeO

[H]F Junkie
Joined
Nov 1, 2000
Messages
8,684
You are correct in that statement. My point is that with End User Agreements, Microsoft can and will force this on us. It all boils down to your views of freedom and privacy on the internet. I will admit I rode the hype train the other night and bought in at $2.18 and dumped at $4.22 after reading and realizing what I had just bought. Dumping it for me is kindof from a moral and anti-giant corporation point of view.

IOTA is a decentralized network with a new database type stamped on it vaguely having to do with blockchain technology. Why this is being sold as a coin is a myth to me, but you know, hype train and bad investors will explode any worthless idea in this sector.

That's fine. I'm still going to ride this one out. I was in quite early and if I lose it all, so be it.

So what do you intend to hold if you believe this to be a joke?
 

RevMen

Limp Gawd
Joined
Feb 22, 2004
Messages
460
IOTA is a currency. The point of the network is to enable thousands of transactions per second, with many of those transactions being transfers of value. I don't understand why you're confused by the presence of a coin. What were you expecting?

If you don't like Microsoft, don't use Microsoft. It's actually not that hard to do.

Where are you hearing that Microsoft plans to thrust IOTA on its users like this? The only thing I know about their relationship to IOTA is that they're a participant in the data market.
 

TypeO

[H]F Junkie
Joined
Nov 1, 2000
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8,684
Been a rough couple of days. Watched the meetup in Chicago last night and it wasn't the greatest. I'm still in and don't plan on selling.
 

Edgar

2[H]4U
Joined
Jul 24, 2005
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2,694
Been a rough couple of days. Watched the meetup in Chicago last night and it wasn't the greatest. I'm still in and don't plan on selling.
Same. I missed out on the LTC moon because of this crap. Now I have no choice but to stay.
 

RevMen

Limp Gawd
Joined
Feb 22, 2004
Messages
460
Fortunately I got all the way out when it was still above $4. I wasn't trying to escape IOTA so much as free up capital to do arbitrage on the ridiculous LTC price differences there were yesterday. Looking for a floor to get back in.

This attack on IOTA has definitely indicated that a rethink is needed on public nodes. Sending IOTA from person to person is working just fine, but because the nodes operated by exchanges are being attacked, it's almost impossible to move IOTA into/out of exchanges.

I think node-as-a-service is on the horizon. The fact that there isn't much incentive to run a public node needs to be dealt with.
 

stealthballer123

Limp Gawd
Joined
Mar 2, 2017
Messages
299
xrp is gonna hit a dollar(fingers and toes crossed), btc has to come up to ltc being .01 again before I trust ltc again.

historical precedent dictates either ltc is over valued or btc is under, I am leaning towards btc coming back up rather than ltc down, but momentum has died down on BTC so it's a weird limbo time, at least for me, outside of my xrp holdings.

There is an enormous opportunity to formulate an algorithmic trading system for crypto similar to the stock market. I suspect they exist, just haven't trickled down to joe consumer.
 

Boozer

2[H]4U
Joined
Mar 11, 2004
Messages
2,348
I sold my IOTA at 4.4. The bad press they had and the slight untruth about the microsoft partnership really hurt the coin.
 

TypeO

[H]F Junkie
Joined
Nov 1, 2000
Messages
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I sold my IOTA at 4.4. The bad press they had and the slight untruth about the microsoft partnership really hurt the coin.

Hopefully you made some money. I'm assuming you did. That didn't phase me and I'm in for good. Lot of FUD out there.
 

RevMen

Limp Gawd
Joined
Feb 22, 2004
Messages
460
To be fair, it wasn't anyone at IOTA that made it sound like they were partners with Microsoft. That's just what some journalists wrote. It definitely doesn't help, though.
 

tayunz

[H]ard DCoTM October 2018
Joined
Sep 27, 2004
Messages
1,343
Journalists are really two steps behind on all the cryptocurrency stuff and yet they continue to write article after article of misinformation. It's just scary because average people are trying to get a beat on Cryptos and they're getting their info from these journalists. Only making things more volatile than it already is.
 

Boozer

2[H]4U
Joined
Mar 11, 2004
Messages
2,348
Hopefully you made some money. I'm assuming you did. That didn't phase me and I'm in for good. Lot of FUD out there.

I made about $700 off the deal. I'm thinking of buying back in but it really depends on if they can fix their coin. It's too volatile for me right now. I'm new to the scene and so far I'm making the right decisions. I'll follow my instincts for now.
 

TypeO

[H]F Junkie
Joined
Nov 1, 2000
Messages
8,684
Good day today. New wallet update, announcement from Bosch, Ruuvio yesterday, Trinity Wallet in January.
 
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