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Why IOTA is a shitcoin (These are all facts)
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  1. Confirmation in 2.3 minutes. PoS coins already can have instant finality.

2 Centralized. It's centralized until you remove it. Let's talk now, not the future. I remember 2 years ago there was a roadmap to remove the coordinator and it's still the same thing.

  1. Low TPS. Hovering around 6, sure it can handle more but if people don't use the network, that's how it is.

  2. 5m Volume. That's 20x less than Dash, NEM, ZCash. It's clear that the distribution at the start was flawed because the market cap is still so high artificial circulation.

  3. 500k ICO among an unknown number of a group of some slack members. Hits the market with a 1.5b market cap with no publicity (30 page bitcointalk, incredibly low google analytics traffic)

  4. Bullshit partnerships. Fujitsu "partnered" with IOTA and 1 year later, Fujitsu announced their own blockchain platform/network and that they weren't using IOTA. Stuff like these. Existing partners can't use IOTA for anything right now. You really believe that IoT companies like Audi are using a slow ass network like IOTA? You can't even use IOTA for anything practical at the moment.

  5. Completely centralized foundation. There's one owner who controls everything. No board, no "foundation". IOTA is literally the Hillary Clinton Foundation. We saw what happened when the founders were arguing.

  6. Guerrilla marketing tactics on other subreddits lower trust in the token. It's clear that there are bots upvoting post when you see 110 upvotes in 10-20 minutes.

These are all facts, feel free to debate the implications. Unfortunately not many people like facts nowadays.

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5 years ago