How will IOTA become a reality without fees?
This is the question you all should be asking, because although there is nothing better than "free" when it comes to most things, the reality of it just isn't possible.
All people are innately greedy, and without the "what's in it for me" factor, I have a very difficult time understanding how IOTA will be successful.
Someone has to maintain the infrastructure, someone has to pay the electric bills, someone has to man the helm, and all of these things cost money, so without it... how will all of this be paid for?
Also, do we really understand tangle enough for such an enormous valuation?
I remember not too long ago, a university easily hacked and pointed out all of the security flaws within the IOTA software, so is this something we should value so highly?
Oh, and don't forget the whole centralization argument with IOTA either, because the reason why the great majority of us do love blockchain technologies, is due to its decentralized nature.
What say you guys and gals, is IOTA here to stay, or is it just a fad?
Or is it too early to tell?
A rising tide, raises all the ships. With the hysteria causing bitcoin to hit new highs daily, it is likely making everything go crazy.
Peace and prosperity
Hmm, I didn't think about that, plus, IOTA's fan base is extremely vocal.
Good questions!
I believe that IoT transactions have to happen at zero-fee, but not necessarily at zero-cost. It just imply that the devices themselves can transact freely.
I strongly believe that the EOS proposition (tokenize the network ressources as an asset) creates the exact context required for smart devices to interoperate with themselves and humans. You rent or buy network ressources and monetize your IoT network with an appropriate strategy other than tx fees.
As part of the ecosystem, your devices also have access (can transact with) any EOS sub-chains with high performance, no scaling issue (parallel processing) and most of all, they are trustable, easy to program and maintain if their operating instructions are hosted in smart contracts on the blockchain.
If you consider that IoT devices will soon run stripped VM and participate in networks as computers, then IOTA lose it's appeal as a real-world solution. The Tangle is a complicated paradigm and, IMHO, is short lived if we consider the computing power eventually available for smart devices.
I am not an IoT expert and welcome other views. I hope this comment will help to bring more info on the IOTA value proposition.
Thanks for the comment, and I wish there was more proof of concept first with IOTA before it goes all crazy price wise, because eventually people are going to demand justification for its high dollar valuation.
I was an early investor in IOTA, used the wallet, read the documentation. After some time, I never got rid of this gut feeling that it is too complicated and cumbersome. IMHO, it is not an elegant solution to IoT networking challenges. Even if the coin goes to the moon, I will not get back in that project.
Thanks for being honest, and I very much appreciate the feedback!