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RE: IOTA - The Cryptocurrency That Jumped Into 6th Position
I just made a bitfinex account and bought a little IOTA yesterday. It seems like it could be huge, but right now all wallet addresses that I tangle on the GUI light wallet are not recognized by bitfinex. They probably still have some bugs to iron out since it's brand new to the exchange.
This coin uses a different "blockchain" than usual so needs some time :)
I really wonder whether the new blockchain works as intended.
I do not get the part that each transaction requires the sender to verify two other transactions on the Tangle.
Does this means that a sender is always dependent on future senders to get his payment confirmed (checked and verified by those future senders)?
If so, in theory the system could encounter a problem if 10,000 senders make a payment and thereafter, only 1 person makes a payment each day. It would take a long time before that sender has verified all 10,000 payments before that. And of no one makes a payment for a long time, all the latest payments (still unverified) would remain unconfirmed.
Am I missing something?
They have a mechanism so the DAG is single ended, which means if 10,000 senders make a payment they will verify each other and there is only one at the end. This is a high volume transaction tech used on IoT, which means there is a huge amount of transactions per second. Your payment will usually get verified in milliseconds while on blockchain it takes 3-5 seconds. If a machine plugged into the network is appending his sensor data to the network there is a continuous stream of transactions so the scenario where there is a very long time world wide without a transaction if very much unexpected.
I think you got something wrong here. There can be multiple DAG endings (called tips) in IOTA. The system is designed in a way so that participants are motivated to validate more recent transactions and especially those that have not been confirmed before (=tips), though, else the system would not work. You can view a live visualization of the IOTA tangle at https://tangle.blox.pm/.
Really? Do you see how many of these coins are in circulation? I've literally never seen a coin with such little potential. This coin will be gone by years end.....there's 2,779,530,283,277,760 IOT *.....that's 2 QUADRILLION. You have to be kidding me. The biggest pump and dump of all time. Not trying to be a ####, but this is the worst coin of all time. Save your money!
Large amount is in vision with adoption by numerous IoT devices and to avoid decimals. What matters is Market Cap, why is large quantity a matter? How does it make it low potential and pump-and-dump?
Oh, I completely missed the line where you mention that withdrawals/deposits aren't functioning.
No worries, they were working 15h ago, so just let em sync!
isnt going down already?down like 20%
I would not register at Bitfinex. They are a scam. They hold withdrawals and delist coins.
I had bought some mIOTA the other day too. I sold it after a few days because I didn't like the wallet situation out there in cyperspace right now. I want a hot wallet like Exodus or Electrum that I can keep on my hard drive and have my IOTA keys there. When will a wallet come out that is easy to use?