Lot of IOTA interest.

   

US$5 IOTA.

FML

I think difference is about 50 cents right now. I don't how this is possible.

anyways, Is there a way you buy those on Binance and sell it in other market?

Quote: (12-05-2017 02:19 PM)yaku Wrote:  

Up to $3.40 now.

Nearly $6 at Coinone, the Korean exchange.

Apparently lots of demand in Korea.

Quote: (12-09-2017 11:31 PM)Sebastian Wrote:  

I think difference is about 50 cents right now. I don't how this is possible.

anyways, Is there a way you buy those on Binance and sell it in other market?

Quote: (12-05-2017 02:19 PM)yaku Wrote:  

Up to $3.40 now.

Nearly $6 at Coinone, the Korean exchange.

Apparently lots of demand in Korea.

You can only trade on Coinone with a Korean passport and a Korean phone number. Hence access to the exchange is limited and therefore prices differ.

Deutsche Bank put out a prospectus on crypto for its clients.

https://www.db.com/newsroom_news/cio_ins..._ready.pdf

Quote:Quote:

IOTA
• The IOTA foundation, located in Berlin has revolutionised IoT*. IOTA represents a third generation of Blockchain after the development of
Bitcoin and Ethereum were developed. It actually isn’t a simple blockchain anymore, but rather a completely new concept.
• The scale problem is solved through a new developed structure. Instead of a chain the blocks are processed in parallel strands. A
transaction is processed after being confirmed by several participants (not miners like Bitcoin). There are basically three steps during a
transaction:
1. I have to confirm a minimum of two transactions (the software does this automatically, unlike miners for Bitcoin).
2. These two transactions must be verified and checked (also done by the software).
3. The authentication is processed through a nonce (number used once)*. This guarantees spam protection.
• In conclusion: IOTA has solved the fundamental problems of blockchain, because it is scalable and does not cause any costs. The
problem is, that this payment system only works if cryptocurrencies are compatible with each other, because IOTA does not have blocks
and chains.

So buy those from one of U.S markets, put it in the wallet and send it to someone in korea and they sell it for you? is that possible?

Quote: (12-10-2017 05:51 AM)semibaron Wrote:  

Quote: (12-09-2017 11:31 PM)Sebastian Wrote:  

I think difference is about 50 cents right now. I don't how this is possible.

anyways, Is there a way you buy those on Binance and sell it in other market?

Quote: (12-05-2017 02:19 PM)yaku Wrote:  

Up to $3.40 now.

Nearly $6 at Coinone, the Korean exchange.

Apparently lots of demand in Korea.

You can only trade on Coinone with a Korean passport and a Korean phone number. Hence access to the exchange is limited and therefore prices differ.

Quote: (12-11-2017 07:42 PM)yaku Wrote:  

Deutsche Bank put out a prospectus on crypto for its clients.

https://www.db.com/newsroom_news/cio_ins..._ready.pdf

Quote:Quote:

IOTA
• The IOTA foundation, located in Berlin has revolutionised IoT*. IOTA represents a third generation of Blockchain after the development of
Bitcoin and Ethereum were developed. It actually isn’t a simple blockchain anymore, but rather a completely new concept.
• The scale problem is solved through a new developed structure. Instead of a chain the blocks are processed in parallel strands. A
transaction is processed after being confirmed by several participants (not miners like Bitcoin). There are basically three steps during a
transaction:
1. I have to confirm a minimum of two transactions (the software does this automatically, unlike miners for Bitcoin).
2. These two transactions must be verified and checked (also done by the software).
3. The authentication is processed through a nonce (number used once)*. This guarantees spam protection.
• In conclusion: IOTA has solved the fundamental problems of blockchain, because it is scalable and does not cause any costs. The
problem is, that this payment system only works if cryptocurrencies are compatible with each other, because IOTA does not have blocks
and chains.

Uhm...what?

Quote:Quote:

IOTA has solved the fundamental problems of blockchain, because it is scalable and does not cause any costs

Unless IOTA can demonstrate it's processing thousands of transactions per second, it hasn't proven that it has solved the scalability problem.

Quote:Quote:

The problem is, that this payment system only works if cryptocurrencies are compatible with each other, because IOTA does not have blocks and chains.

I don't think the person who wrote this actually understands what a blockchain is ("does not have blocks and chains" - IOTA obviously has "chains" since transactions are linked).

I'm also not sure what he means with cryptocurrencies having to be compatible. Compatible how? Trade-able, that's already possible. IOTA has its own currency, so why do other cryptocurrencies have to be compatible?

Quote: (12-07-2017 02:07 PM)yaku Wrote:  

He's talking about a bug that was fixed in August. His Microsoft claim is laughable. And the management team has no problems firing back at its critics, as an earlier exchange with Vitalik showed. Maybe be a bit unprofessional, but I don't see any problem with that.

Fair point on the Microsoft claim, I don't see any evidence that the IOTA Foundation is lying about it.

The fact that he's mentioning a bug from August doesn't invalidate that it was a pretty significant bug and IOTA messed up badly by rolling their own crypto.

Quote:Quote:

A functioning IOTA is a threat to the blockchain community. In the future, the PR battle between blockchain and tangle will make the Bitcoin/Bitcoin Cash battle seem like a quaint little argument between friends.

I highly doubt this - a lot of IOT sensors are small and optimized for minimum power consumption. Having them all do a bit of PoW every time it interacts within an IOT system is foolish. Although the price is up right now, I fully expect IOTA to crash and burn.

Sure, it was a significant but but not a big deal in the grand scheme of things. Just like the BTC bug that created 92 billion bitcoin out of thin air. Except the IOTA screwup didn't force a reversal of transactions. Or the time when Bitcoin Core released incompatible versions of software. That certainly was a clusterfuck, and happened as recently as 2013. Shit happens when you developing new stuff.

The fact shit happens doesn't mean you shouldn't innovate.

And sure, a lot of IOT sensors are small and can't handle PoW. If they can't/won't do the PoW, then they don't need to be part of the IOTA system.

Problem solved.

Quote: (12-12-2017 12:23 AM)yaku Wrote:  

Sure, it was a significant but but not a big deal in the grand scheme of things. Just like the BTC bug that created 92 billion bitcoin out of thin air. Except the IOTA screwup didn't force a reversal of transactions. Or the time when Bitcoin Core released incompatible versions of software. That certainly was a clusterfuck, and happened as recently as 2013. Shit happens when you developing new stuff.

It's one thing when unexpected shit happens. It's quite the red flag when you ignore standard practice of not writing your own cryptographic algorithm.

That's cryptography 101.

Quote:Quote:

The fact shit happens doesn't mean you shouldn't innovate.

I'm going to leave this argument aside as it actually relates to how you perceive technology and the cost/benefit analysis. This is more philosophical in nature.

Quote:Quote:

And sure, a lot of IOT sensors are small and can't handle PoW. If they can't/won't do the PoW, then they don't need to be part of the IOTA system.

Problem solved.

Then why would anyone use the IOTA system. People are trying to develop IOT ecosystems, for example in the future you might see a house where all electrical appliances have sensors in them optimize electricity consumption - this will especially be a valuable control parameter to have (i.e. demand control) if we evolve from the centralized electric grid system we currently have to a microgrid-based one.

Considering it's more effective to have a unified ecosystem in terms of standards (a common engineering practice and why the International Standards Organization, ISO exists, same with IEEE standards and a bunch of others), if smaller devices are eliminated from working on the IOTA system, companies will be more inclined to move to a system where all their devices can work.

I'm going to have to look at some IOT roadmaps (technologies that are relatively mature always have roadmaps). But I'd be highly surprised if the roadmaps didn't include a 10 or 20yr plan to make all IOT sensors be below a certain power consumption point.

I don't think you fully appreciate just how desirable it is for IOT devices to be minimize power consumption as much as possible. The entire idea behind IOT is to have a sensor in everything and control everything. The less power consumption, the better. Again, I'll have to look at roadmaps and do the math on how much energy a PoW transaction require, but I wouldn't be surprised if the percentage of devices ineligible for the IOTA system hits 90%, if not more.

I

In case anyone would like an example of what IOT (Internet-of-Things) will do, IBM has a neat video:

https://youtu.be/QSIPNhOiMoE

Imagine a car with dozens, maybe even hundreds of small sensors - measuring all sorts of variables.

And that's perhaps the most realistic expectation we can have - cars, houses, streets, whatever with hundreds of sensors of differing sizes and requirements.

And all those sensors aren't going to work on mutiple platforms - manufacturers will pick one platform to use all their sensors with. If IOTA ends up limiting the minimum size of sensors, yeah it's a sunk project.

Though you just may be able to get away with in for example a car, assuming you have one central processing component that does the PoW work for IOTA. Frankly though, from a design and cost point of view it might be easier and cheaper to outsource the transaction/PoW work to a dedicated central facility run by the manufacturer or even easier, outsource to dedicated PoW equipment, i.e. miners (or stakers in PoS) and just pay the fee to finalize transactions.

Good points Genghis. Still lots of work to be done with IOTA, it's certainly in its infancy.

One final thing about writing your own crypto algorithm. The guy behind the algorithm is very concerned that other coins out there are vulnerable to future AI and quantum computing. That's why he felt forced to write a new crypto algorithm.

Quote:Quote:

Papers like https://131002.net/data/papers/AK09.pdf, showing that "peer-reviewed, proven resilient algorithms" have non-uniform structure, make me worry that an AI will find a way to break algorithms considered secure today. Look around, countries join the AI race (https://www.cnbc.com/2017/07/21/china-ai...2030.html, https://www.theverge.com/2017/9/4/162512...-the-world) like it's Nuclear Arms race 2.0. To me it's clear signs that power of Artificial Intelligence shouldn't be understated.

Quote: (12-12-2017 01:48 AM)Genghis Khan Wrote:  

In case anyone would like an example of what IOT (Internet-of-Things) will do, IBM has a neat video:

https://youtu.be/QSIPNhOiMoE

Imagine a car with dozens, maybe even hundreds of small sensors - measuring all sorts of variables.

And that's perhaps the most realistic expectation we can have - cars, houses, streets, whatever with hundreds of sensors of differing sizes and requirements.

And all those sensors aren't going to work on mutiple platforms - manufacturers will pick one platform to use all their sensors with. If IOTA ends up limiting the minimum size of sensors, yeah it's a sunk project.

Though you just may be able to get away with in for example a car, assuming you have one central processing component that does the PoW work for IOTA. Frankly though, from a design and cost point of view it might be easier and cheaper to outsource the transaction/PoW work to a dedicated central facility run by the manufacturer or even easier, outsource to dedicated PoW equipment, i.e. miners (or stakers in PoS) and just pay the fee to finalize transactions.

Maybe there should be a separate thread with regards to IOT in general or/and one on investing with regards to IOT. I certainly think that this will be a big game changer overall, so probably many sectors are gonna profit and we as a community would do good to try to foresee where those gains will be made and how we could personally profit. IOTA is one option (that might work or not), but there are probably a lot more. I lack the technical knowledge to really go in depth on the subject, but perhaps other members know more or are even involved professionally with this transition.

Obviously small IoT devices don't have the capacity to do the necessary PoW. There are 2 solution approaches under way:

1. Swarm notes, enabled by the distributed computing CPU Jinn (see page 4 of this thread), will share the burden of a single full node. So imagine 10 small IoT sensor combined form one full node.

2. The IOTA protocol allows the split of tasks. Hence the PoW associated to a transaction can be done by a different device than the transaction issuer device. This also applies for the storage of data or other related tasks. So imagine, a car sensor collects data and wants to publish these into the Tangle. The sensor would contact another more powerful device to do the PoW. Then, when PoW has been done, the sensor starts uploading the data.

The tangle is a theoretical concept with no current implementation of the concept itself let alone the development. IOTA can't function without a centralized coordinator for the time being. All of the supply has been created in an ICO two years ago and it was very small (around $2m) so it ended in a very few hands. The Microsoft/Deutsch Bank propaganda should rise your scam alarms and not the other way around.

Be careful out there.

This project seems to be the most interesting for an overview of the next 2/5 years because of the background of the technology. Surprisingly still there aren't decent available wallets and even few exchanges at the moment have IOTA available, but this is a plus in my opinion because there are margins of growth.

In case your transaction isn't processing, try switching your full node you are connecting your light node to.

Here is an overview http://iota.dance/nodes

More, we are soon going to see a new IRI 1.4.1.3

Like 99% of the cryptos IOTA is SHIT. Its just an idea which does not work and make the founder rich.

Check this:
https://codesuppository.blogspot.de/2017...s.html?m=1

You're right.

But the price goes up anyway, because people want it.

Quote: (12-28-2017 03:06 PM)SamuelBRoberts Wrote:  

You're right.

But the price goes up anyway, because people want it.

This shows me that something is wrong with the cryptoworld and its a hype

Well, I'm glad I was able to provide you some enlightenment!

Most of the misery I've had with Crypto has come from taking it seriously, and all the fun has come from treating it like the silly fad it is.

People want IOTA? Let 'em by IOTA. Buy it before they do and then sell it to them for more than you paid for it.
It's centralized? Who cares? They want it anyway.
It has severe security flaws? Who cares? I won't be holding it long enough for that to matter, and if I do, my position sizing rules will protect me.
IOTA's written by idiots and liars? Who cares? You're not investing in a company that'll be around in 5 years, with your investment dependent on them being upright people who make good decisions. You're buying a silly, imaginary coin and then selling it a little later.

Quote: (12-28-2017 03:00 PM)sync Wrote:  

Like 99% of the cryptos IOTA is SHIT. Its just an idea which does not work and make the founder rich.

Check this:
https://codesuppository.blogspot.de/2017...s.html?m=1

I largely agree with you that there are a lot of shitty cryptos out there, and that very few of them can you have confidence in the fundamentals driving the price in the longer term 3 years to 5 years to 10 years. Maybe in crypto land 3 years is a long time, and if you can keep up a pump for 3 years, then that kind of price action in itself increases fundamentals to some degree - but you could be correct also that crap is crap, in spite of short term pumps.

By the way, what is your idea about the 1% of crypto that is not shit? Which one(s)? How do you come to such conclusion?

Quote: (12-28-2017 04:09 PM)SamuelBRoberts Wrote:  

Well, I'm glad I was able to provide you some enlightenment!

Most of the misery I've had with Crypto has come from taking it seriously, and all the fun has come from treating it like the silly fad it is.

People want IOTA? Let 'em by IOTA. Buy it before they do and then sell it to them for more than you paid for it.
It's centralized? Who cares? They want it anyway.
It has severe security flaws? Who cares? I won't be holding it long enough for that to matter, and if I do, my position sizing rules will protect me.
IOTA's written by idiots and liars? Who cares? You're not investing in a company that'll be around in 5 years, with your investment dependent on them being upright people who make good decisions. You're buying a silly, imaginary coin and then selling it a little later.

Sam: Are you actually trading IOTA?

From your comment in the last few posts here, I am inferring that you are, and you are in and out of such investment.

Don't get me wrong, because I am not saying that you are wrong (assuming that you are trading IOTA), but if you are trading IOTA, this demonstrates a philosophical approach that is quite different from my own, and really I believe that you really have to "stay on your toes" and even have some differing measurements than me to attempt to profit from something that even you concede could reverse at any time and even unexpectedly. So, in that regard, you have to really ensure that you have an ability to get in and out (and you are risking that you could get trapped, if there are some shenanigans that go beyond your expectations).

Anyhow, even though I disagree with guys about this kind of approach to investing, I do understand that there are ways to protect yourself and overall strategies in playing the numbers that could still cause such a strategy to be decently lucrative - for example, a more stable investment might bring you 20% to 5x in a year; however, a trading strategy could allow you to get 20x or 100x on one or two investments, but still end up with an average return that is greater than the more stable investment. The level of centralization of IOTA specifically, and even in your own reports, Sam, causes me to be completely weary to take any kind of stake in it, even if I were to conclude that there could be some decent chance of a short term return that is higher than other crypto assets (or other assets for that matter).

Quote: (12-28-2017 04:09 PM)SamuelBRoberts Wrote:  

Well, I'm glad I was able to provide you some enlightenment!

Most of the misery I've had with Crypto has come from taking it seriously, and all the fun has come from treating it like the silly fad it is.

People want IOTA? Let 'em by IOTA. Buy it before they do and then sell it to them for more than you paid for it.
It's centralized? Who cares? They want it anyway.
It has severe security flaws? Who cares? I won't be holding it long enough for that to matter, and if I do, my position sizing rules will protect me.
IOTA's written by idiots and liars? Who cares? You're not investing in a company that'll be around in 5 years, with your investment dependent on them being upright people who make good decisions. You're buying a silly, imaginary coin and then selling it a little later.

Let's keep the facts clear: why has a company like Bosch invested in IOTA? Why many big players are collaborating in the data marketplace with IOTA in order to study how the solution could fit their need?
Maybe the project will be successful, maybe not, but at least here we have real companies who are taking it seriously and trying to cooperate, which makes IOTA more serious than 99% of other crypto currencies. So this is not the typical pump and dump coin, but rather a long term project.
It was already told that it will be decentralized in the future when the solution will be stable and the security flaws have been fixed.
There are still some issues with transactions and the wallet, but this project is the most promising along with Ripple.