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by ago
3076 days ago
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BCH for small transactions with 0-conf is not slow as hell. When you require confirmations a system like Bitcoin has a quite random time between blocks, but 10 minutes on average. IOTA has an absolutely unprofessional development team, doing things like saying critical security vulnerabilities are there on purpose so they can point it out when someone forks or saying that the network being unusable due to a DOS attack is fine because they can use it for testing. Don't forget the time they turned off the network for 2 days without any prior notice (yes, they can do that). I'm all for new technology, but Bitcoin is 9 year old proven technology at this point, while IOTA and RaiBlocks are both new and unproven. Let them mature a bit before suggesting people rely on them. Would be quite bad if someone turned off IOTA when you need your money, wouldn't it? |
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I agree with you that bitcoin derivatives (with blockchain) have proven themselves with a robust security implementation. But if you look at adoption, none of the cryptocurrencies really proved itself. Bitcoin was even dropped by some (such as Steam). And with the high transaction fees, you couldn't really blame them, it just makes no sense.
I also agree with you that RaiBlocks hasn't proved itself yet in security and scaling. But in my opinion, instant and free transactions is a total game changer. If these technologies are able to stand, it's a total game changer for all cryptocurrencies that focus on fast transactions and low fees. That includes Bitcoin Cash and Litecoin.
As for IOTA, I consider that tech in alpha stage. They are not trying hard to make it usable, but it seems they are putting all their focus on trying to build up a standard for the industry. All the partnerships and relations they have going on make sense. Is it usable for end users? No. But RaiBlocks is. And instant feeless transactions indeed could have nice synergy with IOT.
These are definitely interesting times. But I wish more focus would be put on applications and use cases than on the market cap of each coin.