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Friendly reminder that iota's cryptographic weaknesses are immaterial, because it's not actually a decentralized currency - there's the coordinator, a server ru
by charleslmunger 9y ago
Friendly reminder that iota's cryptographic weaknesses are immaterial, because it's not actually a decentralized currency - there's the coordinator, a server run by the iota team that controls transactions. The entire value of it today is speculation - if a demonstration of the complete incompetence and dishonesty of the team, exposed by a researchers at a world renowned institution that laymen are familiar with wouldn't make the price drop to zero, what hope is there that the crash will happen before you have to close your short position? And if crypto currencies crash, what is the likelihood that whatever exchange you placed your bet on is still solvent?
The market can remain irrational longer than you can remain solvent. Be content to eat popcorn and wait.