Looking for other IOTA fags here to explain something to me.
I hold 30k myself and I see IOTA as possibly btfo everything else. Which is why I bought. But now I'm reading all this shit about colored coins and whatnot.
All very nice features, but this leads me to the question of who in their right mind would actually use IOTA for value transfers instead of just being 1MIOTA and then coloring every single IOTA to be worth 1 USD or whatever. In this scenario any large company that uses it could get away with buying a relatively small amount of IOTA and then giving it whatever value they want in their own infrastructure. I am however somewhat technically retarded when it comes to the big brain tech stuff so I'm hoping another smarter IOTA fag can enlighten me as to why I'm wrong.
>inb4 IOTA sucks If it's not well argumented I don't care about your opinion bitch. I also hold 25k LINK, so I'm not dependent on IOTA so hurry back to your little bitch hole.
I asked the very same question in a different thread, about a company just buying 1 MIOTA and then effectively having tons of IOTA to hand out at "shares" that are worth infinitely more than a regular IOTA. There was no real reply outside of "you need uncoloured iota to get mana for nodes" and "in the IOTA Foundation's vision, IOTA could become a kind of gold or fiat currency that will be held and traded regardless."
No idea, really. Can't predict the future. But have not received a reply about the coloured coins until now myself. Also see no reason to buy into IOTA atm. There are much better short-term investments...
Isaac Howard
I mean, maybe they think everything will be replaced by IOTA and people still have a reason to hold uncoloured IOTA. In which case IOTA will be used to buy and sell coloured IOTA. In which case, it could be a bit like CURIO CURV. But the question is also whether things will actually play out this way... It's all speculation, really.
Sebastian King
Iota fuck up everything they touch. > Rolled their own crypto > Wallet forget you own coins after enough iterations > Central coordinator I could go on but basically it's a case of try hards biting off more than they can chew and trying to reinvent the wheel in the process. The DAG is a good idea on paper but I seriously doubt they will pull it off ever. T. 2017 GIOTA whale. Sold my stack 2018 for Link.
Kayden Gray
*Implying that uncoloured IOTA need a certain value to allow you to trade into and out of coloured IOTA. Kind of like CUR...
Adam Hall
1) any network usage increases the token price through diminishing supply 2) additionally network usage is bound to the iota token through mana
..
3) if a company buys 1 MIOTA and uses those 1 million iota as whatever they want, take your example of pegging it to 1 USD, thats 1 million participants in the network that generate and hold mana (iota), increase tps and diminish supply
4) usage and adoption of colored coins in whatever capacity and amount has massive benefits for the whole network and obviously increases the value of the token
William Nguyen
I held both IOTA and Link, pretty much 50/50. Sold my post-moon Link recently to buy shit like YFI and other DeFI governance tokens. Thinking about buying back into IOTA at least a little bit in 3-6 months. Feel like sharing your long-term holds atm? Outside of DeFi governance tokens and link...
Ian Perry
>I don't care about your opinion bitch Well I don't care about yours either. It sucks and will always suck, and I'm going to remind you everyday.
Parker Phillips
Guns and ammo and physical PM. Stack them high too user. I also have a bit of eth and btc. Defi is a scam btw but a necessary one to bootstrap adoption of link. Sucks, but it's needed to show capabilities for SCS.
Asher Ross
Refugee cities for white countries but not Israel.
What an enlightened Israeli company.
Angel White
First time i bought IOTA in 2017. I held trough the bullrun and sold it devastated at break even.
Then i bought back in a few months later. After months of dumping and dumping i finally sold it again at a 50% loss absolutely devastated and full of hate.
Now i bought it back AGAIN a few weeks ago and im AGAIN at least 30% down on it.
I fucking hate IOTA so much i cant express my feelings in words
I wont sell it this time because i never bought IOTA so cheap and i think it will moon in the future, but if not i will find David Sonstebo and Dom Schiener and REQUEST MY FUCKING MONEY BACK
David is a giant faggot and potential drug addicted Cfb is a scammer Dom is a dumb kid who got dragged along for the ride Popov is checked out
Brandon Wright
No one cares about your shitty trading decisions.
Juan Fisher
IOTA sucks as an investment because, as you yourself noticed, there is no reason for it to increase in value beyond manipulation on exchanges. The project itself seems fairly interesting, although it's forever tainted by the fag devs I think.
Oliver Hill
But there is no burn? How does using the network decrease token supply? The fucking 200000000000 premined billions that you can also split up? IOTA has terrible token economics.
Blake Cooper
Well the circulating supply obviosuly goes down as it is locked up in nodes. Smaller circulating supply is supposed to mean higher price if demand stays the same.
However I am still not convinced how the token value is supposed to go up by much because any company with a pulse will obviously create colored coins pegged to a stable fiat currency (at least for the next 2 decades or so). This means that any company with a 10 GIOTA potentially has enough for 1 Billions USD worth of colored coins all worth 1 cent each. Or maybe I'm missing something, hence this post.
I had 1k mIOTA because of financial reasons. Luckily I sold at 0.31 eurocents however IOTA will not be mainly used by persons to buy and sell like some r*dditors think that it will be used for UBI.
IOTA is made so robots/AI/5G/Internet Of Things can communicate with each other. See pic related from their main website. I guess the colored tokens is done for smaller machines and bigger if that makes sense. Like a self-driving cab will be one golden IOTA and a self watering plant pot will only receive 0.001 pink IOTA.
>IOTA is made so robots/AI/5G/Internet Of Things can communicate with each other.
Sure anyone who invested in IOTA that is not a retard understands this. But that still leaves the problem, like you say, of colored coins being used and the question of why MY IOTA (even though I won't use them as is intended for the main purpose) would go up in value.
It is simple. 1 Miota split into 1 million colored iota will not generate enough traffic/mana to be able to do much with it. Big companies for example will need a lot more iota than just 1 miota.
Aiden Collins
Also you need at least 100 iota for 1 USD since 1 USD = 100 cents. For micropayments you need to color every single cent. So at least 100 iota needed for one dollar anyways, which is more than enough to increase value of the token to at least 300$ per miota if we get mass adoption that is.
David Baker
I don't follow. 100 IOTA for 1 usd means 10G IOTA gives you a billions USD. 10GIOTA costs about 2700$ right now. Even if a company wants a 100 Billion$ worth,and even if you have a 100 companies. That's still a drop in the bucket.
Brandon Roberts
So iota DOES have fees in an abstract way? Holding IOTA means losing opportunity cost in other investments, whereas this opportunity cost is represented in MANA, which I will have to spend?
Ryan Jones
And why would other companies accept their colored tokens for example? It's rather likely we will have something like the i$ or i€ for example. So companies can trade data and other things with other companies which would be all colored iota run by the state as a stable fiat crypto currency without fees etc. That alone would give the native iota token a huge increase in value, and that's already the plan btw which they try to accomplish. Just have to wait and see howit all unfolds after coordicide etc. Think of it more like an entry ticket rather than fees.
Andrew Reyes
>Sold my post-moon shitcoin recently to buy shit like YFI and other DeFI governance shittokens. >Thinking about buying back into shitcoin at least a little bit in 3-6 months.
btw. also Bitcoin had a kind of coordinator to halt the whole network in case it had to and defend 51%-attacks.
James Ward
It's great technology, but it's complicated. Trying to explain what they want to do with the Tangle is a nightmare. It is fast. Very fast. But the translation of tech to real world use cases have stopped people from getting into the project.
None of this matters until they get REAL USE CASES out of it. The project has been going for a long time. If they don't do something extraordinary soon, it WILL go sub 10c
Henry James
>- Q4 2020 / Q1 2021: coordinator-less fast decentralized. Source? Otherwise I call bullshit. I have seen multiple mentions of q$ 2021 AT THE EARLIEST. Also on your other points, I don't disagree with the tech or the partners, I am just wondering what all of that means for the value of MY iota because that's what I as an investor am concerned about. All those partner sources don't really answer that given what is discussed above.
Blake Kelly
Kek, always a higher chance the token will rise in value if partners and big corporations actually use the token you know. There are too many crypto projects out there as of now. The real projects will only rise in value through adoption. I see IOTA as the furthest ahead regarding that. Ethereum doesn't work in the long run.
