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RE: IOTA - Far superior to Bitcoin, Nem, Ripple, Ethereum, Litecoin.
What I don't understand is: If there are fee-less transactions, then what exactly is the IOTA token going to be used for if they are not required for the transactions?
Thats a valid question @pandorasbox. If you compare it to any other currency the value always mainly comes from the trust that people give that particular currency. Why do people trust the USD? Why do people trust Bitcoin Why do people trust gold?
So the trust can be based on many factors scarcity, functionality, brainwash, comfort, security, immutability etc. The trust in Iota comes from all the points i just mentioned in the list above. Main use is of course being the currency of the network aswell as the currency for everything that will run through the network
ok imagine you want to send money from A to B.. there's 2 ways of doing it.
-use iota and don't pay fees.
isnt that reason enough to use iota coin?
if yes? the more iota is used for free. the less iota will be
available on exchanges so the more expensive it gets.
now lets be honest. the reason why most coins go up is due to speculation this is the same for iota. ppl just daytrade it .. or other ppl invest in it because they think iota will be used in the future.
and ppl use it just for the sake of trading today. Once there are more exchanges listing iota. you will see the amounts of transactions grow .
now for the real iot case: imagine you have a bunch of sensors reading info about air/noize/chemical pollution , for some companies this info may become interesting like research labs who work for governments or other companies. in order to directly read from the sensor and pay the sensor it should be really cheap, feeless and basically scalable with its' only limit beeing bandwith of the optic fiber in the future
amazing feedback @wonkytonky