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The article does go into the flawed technology: the hilariously poorly thought out trits, the flawed internally developed hash, the centralized nature of the sy

The article does go into the flawed technology: the hilariously poorly thought out trits, the flawed internally developed hash, the centralized nature of the system, etc etc. IOTA is to technologically flawed that it's amazing that it's worth more than $0.

psychlops 7y ago
The trits are bizarre and introduce complexity but isn't necessarily a critical flaw. I don't see anything in the article about them. They rolled their own crypto, but later corrected it. Indeed, it has had their centralized Coordinator with plans to decentralize. Is that a flaw? Maybe, but it's also a scaling issue. The distributed proof of work is novel as well as the absence of centralized mining and transaction fees.
- jki275 7y ago
  They "corrected" it when they were called out on it, while claiming it wasn't a problem, and also claiming they did it on purpose so that if someone "stole" their code they could attack and destroy anything someone else would create. Truly bizarre bullshit.
  - psychlops 7y ago
    I don't recall reading about their rationale that way. Only the unholy way in which they defended it, while swapping it out then sequestering all iota until claimed through centralized means. Sadly, I don't think that the blind defense of flawed security is that bizarre and is all too common today. That said, it was corrected and seems solid to date.
    - jki275 7y ago
      Solid? The entire ecosystem has been down for two weeks because it's a centralized shitcoin. There's nothing "solid" about this. It's a scam. And yes, that's exactly how they described it.
      - psychlops 7y ago
        What's not solid about their current Kerl implementation? It's a scam? Any link to how they are intentionally stealing money? I'd like to know how you know.
        jki275 7y ago
        I don't have the time or inclination to engage with shills. Read for yourself and make up your own mind. https://bitcointalk.org/index.php?topic=5227016.0 https://bitcointalk.org/index.php?topic=5227016.0
Erlich_Bachman 7y ago
Not just more than $0, it has been in the top 10 cryptos by market cap for most of its history :(.

psychlops 7y ago

The trits are bizarre and introduce complexity but isn't necessarily a critical flaw. I don't see anything in the article about them. They rolled their own crypto, but later corrected it. Indeed, it has had their centralized Coordinator with plans to decentralize. Is that a flaw? Maybe, but it's also a scaling issue. The distributed proof of work is novel as well as the absence of centralized mining and transaction fees.

jki275 7y ago
They "corrected" it when they were called out on it, while claiming it wasn't a problem, and also claiming they did it on purpose so that if someone "stole" their code they could attack and destroy anything someone else would create. Truly bizarre bullshit.
- psychlops 7y ago
  I don't recall reading about their rationale that way. Only the unholy way in which they defended it, while swapping it out then sequestering all iota until claimed through centralized means. Sadly, I don't think that the blind defense of flawed security is that bizarre and is all too common today. That said, it was corrected and seems solid to date.
  - jki275 7y ago
    Solid? The entire ecosystem has been down for two weeks because it's a centralized shitcoin. There's nothing "solid" about this. It's a scam. And yes, that's exactly how they described it.
    - psychlops 7y ago
      What's not solid about their current Kerl implementation? It's a scam? Any link to how they are intentionally stealing money? I'd like to know how you know.
      - jki275 7y ago
        I don't have the time or inclination to engage with shills. Read for yourself and make up your own mind. https://bitcointalk.org/index.php?topic=5227016.0 https://bitcointalk.org/index.php?topic=5227016.0

Erlich_Bachman 7y ago

Not just more than $0, it has been in the top 10 cryptos by market cap for most of its history :(.