Post
Topic
Board Speculation (Altcoins)
Re: IOTA is the next big thing
by
generalizethis
on 04/05/2018, 10:09:27 UTC
IOTA is in my top list, moreover Sweden is going to apply IOTA technology for creation of own crypto, so this positive news can lead to future growth. The only thing I don't like is 81 character secret phrase. just remember, 1 year ago something like 4 millions were stollen because people used online generators for secret phrase.

E-krona has yet to be decided, there are a few finalist, so IOTA may or may not be the winner.

If you are using an unknown seed generator to create a seed, that's your own fault. It's no different than asking a stranger on the street to assign you a vault combo. Luckily, Trinity will generate seeds, so even noobs won't suffer at their own bad decisions.

The reason the IF didn't put a seed generator in the original wallet was simple, they didn't want to be culpable if the seed generator could be exploited and they didn't want to spend the time auditing it. They only created a wallet after the community demanded it and they were very clear that it would be bare bones and users would have to practice due diligence. I'm sorry people lost money, but the IF's goal was never to get bogged down in wallets or other P2P issues, the goal of the IF has always been to establish IOTA as an IOT standard--it's that focus that led to it being one of the finalist of E-krona and partnerships with Fujitsu, Bosch and VW, so it wasn't like they were wrong. And while I wish they hadn't released a wallet (basically, stuck with the original plan) or had only issued a CLI, a wallet  that's unusable by noobs, (like Monero's early official wallets) it's a case of hind sight being 20/20 and those taking advantage of the situation by piling on weren't saying anything until it was revealed that people were using phishing sites, so their clairvoyance was no better than the IOTA foundation, or if they knew, they didn't care enough to say a damn word--either way, I know politicizing other's misfortunes when I see it.