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1. > IOTA’s relationships with top-tier companies continue to be nebulous. Not a big deal to me. 2. > IOTA network relies on the “coordinator” And it's plann

1. > IOTA’s relationships with top-tier companies continue to be nebulous. Not a big deal to me. 2. > IOTA network relies on the “coordinator” And it's planned to be removed in the future. 3. > while IOTA users do the proof of work on their own devices, per transaction Because of that proof of work can be rethought and built into cheap hardware for IOT. 4. Security vulnerabilities I'm pretty accepting of software having bugs at the beginning, even stupid obvious ones.

chinathrow 9y ago
> And it's planned to be removed in the future Common response. Everything is promised to be fixed and shiny in the future in the cryptoworld these days.
tylersmith 9y ago
> I'm pretty accepting of software having bugs at the beginning, even stupid obvious ones. Even cryptographic security bugs intentionally placed by the lead developer? https://gist.github.com/Come-from-Beyond/a84ab8615aac13a4543c786f9e35b84a https://gist.github.com/Come-from-Beyond/a84ab8615aac13a4543...
- UncleEntity 9y ago
  > Remembering how quickly Nxt protection was disarmed I was keeping in secret the fact of existence of such mechnism in IOTA. Not to mention they don't even learn from their past mistakes... Though I find it perfectly reasonable to protect ~2 billion dollars through hidden backdoors published on github.
AboutTheWhisles 9y ago
> 2. > IOTA network relies on the “coordinator” And it's planned to be removed in the future. If someone told you they were going to create their own currency by releasing a completely decentralized 100% electronic brand new form of money based on cryptography, would you have believed them before bitcoin was released? Even when it was already up and working for 5 years, people were STILL saying it wouldn't work! Now for some reason instead of being skeptical, people buy into wild claims with nothing backing them up.
amckenna 9y ago
IOTA's relationship with top-tier companies was more than nebulous it was intentionally deceptive. They stated they had a partnership with Microsoft's Azure, when in fact they were simply using some Azure services. I don't think it's fair to claim I have a partnership with AWS just because I host a website on an EC2 instance.
andrewla 9y ago
> 2. > IOTA network relies on the “coordinator” > And it's planned to be removed in the future. It's very clear from reading the specs that there is no way for IOTA in its current form to exist without a coordinator. The heuristics for tip selection depend on things that are inherently vulnerable to Sybil attacks. Proponents consistently argue that network topology will prevent double-spend attacks, but there's no question that it is easy to create incompatible sub-tangles that are not mutually reconcilable, which will result in the same situation anyway. I love most of the design of IOTA, including the admittedly somewhat ridiculous use of balanced ternary, and especially the use of one-time signatures, but under the current scheme there is no path to transitioning to a decentralized censorship-resistant scheme.

chinathrow 9y ago

> And it's planned to be removed in the future Common response. Everything is promised to be fixed and shiny in the future in the cryptoworld these days.

tylersmith 9y ago

> I'm pretty accepting of software having bugs at the beginning, even stupid obvious ones. Even cryptographic security bugs intentionally placed by the lead developer? https://gist.github.com/Come-from-Beyond/a84ab8615aac13a4543c786f9e35b84a https://gist.github.com/Come-from-Beyond/a84ab8615aac13a4543...

UncleEntity 9y ago
> Remembering how quickly Nxt protection was disarmed I was keeping in secret the fact of existence of such mechnism in IOTA. Not to mention they don't even learn from their past mistakes... Though I find it perfectly reasonable to protect ~2 billion dollars through hidden backdoors published on github.

AboutTheWhisles 9y ago

> 2. > IOTA network relies on the “coordinator” And it's planned to be removed in the future. If someone told you they were going to create their own currency by releasing a completely decentralized 100% electronic brand new form of money based on cryptography, would you have believed them before bitcoin was released? Even when it was already up and working for 5 years, people were STILL saying it wouldn't work! Now for some reason instead of being skeptical, people buy into wild claims with nothing backing them up.

amckenna 9y ago

IOTA's relationship with top-tier companies was more than nebulous it was intentionally deceptive. They stated they had a partnership with Microsoft's Azure, when in fact they were simply using some Azure services. I don't think it's fair to claim I have a partnership with AWS just because I host a website on an EC2 instance.

andrewla 9y ago

> 2. > IOTA network relies on the “coordinator” > And it's planned to be removed in the future. It's very clear from reading the specs that there is no way for IOTA in its current form to exist without a coordinator. The heuristics for tip selection depend on things that are inherently vulnerable to Sybil attacks. Proponents consistently argue that network topology will prevent double-spend attacks, but there's no question that it is easy to create incompatible sub-tangles that are not mutually reconcilable, which will result in the same situation anyway. I love most of the design of IOTA, including the admittedly somewhat ridiculous use of balanced ternary, and especially the use of one-time signatures, but under the current scheme there is no path to transitioning to a decentralized censorship-resistant scheme.