@soundmoney
8 months ago

What do you think about IOTA cryptocurrency?

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IOTA is one of the more unique projects in the cryptocurrency space considering their invention of the Tangle and lofty goal to become the main currency for the Internet of Things. The Tangle is beneficial because it provides the means for feeless transactions, is theoretically quantum resistant, and extremely scalable. Nevertheless, there are some major security concerns with the protocol, such as side Tangles that can disrupt the transaction confirmation process. The IOTA network is still at an experimental stage and rigorous testing will be needed going forward to ensure it can act as a machine-to-machine payment system for the internet of things.
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IOTA cryptocurrency is a great deal as well, I think its promising and it has what it takes to play with the big already existing altcoins
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The first open-source distributed ledger that is being built to power the future of the Internet of Things with feeless microtransactions and data integrity for machines.
It's good, if you wish to buy for the future. Cryptocurrency is like the Internet, you can't stop and it will infect everyone. Buy as much as possible.
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IOTA debuted at the cryptocurrency market in June 2017. It took it only six months to corner about 3% of the capitalisation of the entire cryptocurrency market. If the cryptocurrency market retains the current (for 2017) growth trend, then the total market capitalisation for IOTA at the end of 2018 will be $12 trillion. This means that if IOTA retains its market share, its rate will be $150 (for MIOTA). If IOTA takes 10% of the market, as Ethereum did, then the rate will approach $500 for a MIOTA.
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It's solid, that's why it's market cap is so high.
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I have this rule that I only own crypto that I have used (ie. I can transfer between wallets, see what data is being transferred and how it's stored). Before I make it to this stage I find people (smarter than me) who write about the experience of using it or trying to build on it.

Everything I have ever read from someone trying to actually use IOTA for anything has been abysmal. That's not to say it won't succeed, it very well might, developing software takes a lot of time and expertise. But there is no way in hell I am holding on to a crypto that is widely considered both buggy and centralized when there are so many good ones to choose from.

Before I wrote this I even went back through their website and there is nothing in there that makes me think what they are trying to do could not be done better with a good layer 2 solution on top of bitcoin. But, that wouldn't make you nearly as much money as creating a new currency so I understand.
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I was a big fan of IOTA but I'm not following the development closely anymore. Have they been able to do without the coordinator?
The wallet UI was really bad back in 2017 but now they have Trinity that is a great wallet.
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IOTA is used as a currency for machines and machines do not generally store a high balance, IOTA would suffer from a high velocity of money. The high velocity that IOTA is designed for could hurt its token value.
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It is a crpytocurrency worth investing in right now. If you have the resource then i really suggest you to buy them while the price is still low
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IOTA is a cryptocurrency designed for the Internet of Things. But before we get into why the Internet of Things needs IOTA, lets look at what IOTA can offer to the existing cryptocurrency scene. (Don’t worry, we will return to the internet of things later). IOTA has 4 HUGE advantages over Blockchain cryptocurrencies in that it is:
-Scalable
-Decenteralized
-Modular
-Fee Less

If you want follow this guide later and buy now you can do so on Binance by clicking on the button to the left. We recommend moving your tokens off exchanges as soon as possible because while they are on an exchange you have only an IOU.

SOURCE : UKcryptocurrency
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