Quote from: SatoNatomato on July 11, 2017, 08:27:36 AM

Quote from: illumin8ed1 on July 11, 2017, 07:56:00 AM

You'd have to be a dunce to not see it already.

Aha.

Separate the promises of IOTA with the actual implementation, the people behind it, and the results.

Aint nothing wrong with IoT, with machine-to-machine economy, DAG-coin, the points you mentioned.

But utilizing Proof-of-Work on IoT is beyond retarded, expecting PoW to even be necessary in a DAG-coin is also retarded.

Failing to see what the Coordinator does, that it will never be removed, the founders have not even posted any criteria for when it can be removed. Why it is needed even at the beginning, "training wheels" - makes you a dunce.

Hint: IOTA is piggybacking on IoT buzzword hype in the enterprise and scamming clueless greedy cryptocoin nerds while delivering worthless product.

Hint2: All the problems of IOTA are already solved with Byteball.

First off, Byteball is the real scam. They (and by they I mean the 1 developer) are adding transaction fees that don't need to be there. That alone will cause IOTA to succeed over Byteball.

Second, IOTA was not designed to be a currency. It was designed for secure machine-to-machine communication for the IoT industry, and has several real world usages already in the works which will take over technology that was originally considering blockchains. Byteball's only purpose is to be cryptocurrency, and has no other reason to be used or developed further or used by any enterprise businesses for any other purpose.

The Proof of Work (PoW) is simple, and it is to avoid Sybil and Spam attacks. It doesn't create tokens or anything, it just validates transactions, and doesn't get more difficult over time, its a fixed difficulty. Its nowhere near the same thing as Bitcoins proof of work and artificial difficulty adjustments. On top of that, the proof of work can even be outsourced from small lightweight devices to something more able to handle the computational load.

The coordinator is going to be turned off very soon actually. It was said to be turned off this July. I understand fully why it was needed. The tangle had to grow beyond a certain point to prevent a 34% attack. You can read more about it here: https://forum.iota.org/t/iota-double-spending-masterclass/1311 There are only so many ways to get a DAG off the ground, a coordinator is one way. But once it is flying, it will soar.

Byteball didn't solve any problems really, they just shot themselves in the foot with transaction fees, and removed some security...

Quote from: Lauda on July 11, 2017, 08:41:59 AM

The reason for this is that Bitcoin is far too superior than anything else that is promising smoke and mirrors. It will take something drastically superior to even get close to Bitcoin.

I think you mean Blockchain? It seems you simply don't understand the technology, you just blindly defend it. Saying "Bitcoin is far too superior than anything" is like saying a cathode ray tube television is superior to any other television. It is very short sighted and wrong.

Quote from: Lauda on July 11, 2017, 08:41:59 AM

Quote from: Xavofat on June 26, 2017, 08:38:16 PM

IOTA is shit because it requires proof-of-work from each client in order to have "zero fees". This means that the IoT devices that it claims will connect to it will find it very difficult to use IOTA without doing the PoW, and the battery life would be bad.

In other words: The whole idea is inherently flawed.

I think the real problem here is the public's inability to separate their understanding of blockchain technology from DAG technology. For example, bitcoin's proof of work difficulty increased over time to prevent inflation, and is what caused miners to go from simple CPU mining rigs, to GPU mining rigs, to application-specific integrated circuit chips (ASICs) farms, and wasting a ton of energy and money in the process. That is not necessary for IOTA, and the Proof Of Work is fixed difficulty, and can be done by not-so-powerful devices quite easily.... So educate yourself.