I'm new to IOTA and am very excited! I want to know what you guys think. Let's have a conversation.
I've recently started researching IOTA and I have to say that it looks to be, potentially, the most promising crypto to invest in.
From what I understand, the current market of ~9.5billion dollars is nothing compared to it's unlimited potential.
Unlike with blockchain, the confirmation rates and timing get better the more people are using it. Then on top of that, once a critical mass of transactions are in place there will no longer be any need for the coordinator that causes so many people to criticisize IOTA, even though it hasn't proven to be a problem at all, much to the contrary in fact.
But non the less, the coordinator will stop being used, and actually can stop being used by individuals who simply use their own private nodes. And what many people don't realize is that IOTA actually turned of the coordinater for a time to see what happened and it didn't cause any security problems!
Just looking at the history of IOTA's progress in 2017 and it's plans for 2018 (check it out: https://blog.iota.org/2017-in-review-2018-in-preview-704177484ef0) it's a very safe prediction to say that IOTA is set to explode!
Oh, and btw, I don't own any IOTA. I'm currently on disability and can't even afford my medical bills much less invest. But when I do get back up on my feet I'm going to be buying evey bit of IOTA that I can mange!
Oh, and btw, IOTA is down by about 10% right. Considering the recent drop in almost all cryptos due to the exuberant buying recently it'll probably keep goinfg lower. But it's still an easy buy at $3.5. Like Buffet says "Buy when others are selling and sell when others are buying."
If you look into it, it's centralised. That's the biggest problem.
Yeah, I mentioned that in my post (probably not very clearly) in reference to the coordinator. From what I understand, true decentralization will occur when the coordinator is no longer in use. Here's a direct quote from The Tangler: "In practice, IOTA is decentralized and could run completely free, without the coordinator, but for now, this system is set up as a protection mechanism against 34% attacks, while the tangle ledger isn’t fully matured and big enough to catch such attacks." http://www.tangleblog.com/2017/01/25/the-tech-behind-iota-explained/
Again, from what I understand, once the Random Walk Monte Carlo-Methods are used IOTA will be decentralized in even the most criritcal sense.
If I'm missing something or I'm poorly informed, please let me know!
Thanks for the reply.