Why IOTA is undervalued 🤑 - The sleeping giant 😴

🕒 3 min read | IOTA has huge potential for the future. Responses to critics, upcoming events and my assessment for the future.

Disclaimer: This is not financial advice. Do your own research before investing.

Quelle: , Author: Tiagodimas2, transformed, licensed under CC 4.0

Criticism of IOTA

First I want to start with a lot of information about IOTA that is not right, and some of which I want to clarify:

a. The transactions are not free, you have to do PoW

Yes, you have to do Proof-of-work to protect the system from spam and sybil attacks. That does not change the fact that the transactions themselves are free. If you send 5 MIOTA to an address it'll receive exactly 5 MIOTA.

Source: blog.iota.org

b. IOTA is centralized

IOTA is far more decentralized than other blockchains, such as Bitcoin, which is based on a pool of five major miners from China. Only the snapshots are currently controlled centrally. However, a roadmap will soon be released to address this issue and to decentralize the snapshots.

The coordinator does not want to be shut off, it wants to be removed. We'll post an updated timeline as well as an overall explanation of the coordinator, hopefully in January. - Dominik Schiener Co-Founder (Source)

c. An IoT device itself can never perform the required PoW

IoT devices currently have no processors capable of performing the required proof-of-work themselves, so these calculations are usually sent to a central location that does it. And there it is again, the bad word "central". But IOTA also has an answer to that: they are in the process of using ternary processors from JINN for the IoT devices. These are far more powerful and consume less energy than traditional binary processors. I recommend you to read this article to dig deeper: https://medium.com/@iotasuppoter/iota-the-hardware-part-a6100b5bb4d5

d. MIT FUD

The MIT has said some bad things about IOTA. Here is the official statement from IOTA:

https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-1-72434583a2

e. The Wallet bad

Yes. But let's see what events are pending.

If you have further questions, feel free to leave a comment.

Upcoming events

a. New wallet

At the end of January, at least the mobile wallet should be published. The desktop wallet should follow in February. Features include: Completely new design with plugins, transaction queues, minimal standard and expert mode, 2FA, auto-rattaching of transactions - Screenshots here (unfortunately in german). Accordingly, it should also be possible to create a paper wallet. Support for hard wallets such as the ledger should also be a matter of time. Only a month ago a guy created an address on the ledger.

b. Data marketplace becomes public

Bildschirmfoto 2018-01-11 um 03.05.42.png
Source: Screenshot data.iota.org

The data marketplace will be open to anyone at the end of January. This was the reason for the last pumping in late November, in which the misinformation with Microsoft were misinformed by the media and presented IOTA as a scapegoat.

c. Project "Q" 1st quarter 2018

The previously secret project "Q" will be published soon. The developers and founders have been doing "advertising" for a while. They trust the project so much that they see IOTA in a short time in front of Bitcoin Cash. In my opinion, "Q" is the ternary processors of JINN, but no matter what it is, it will be big!

Conclusion

The year 2018 will be very important for IOTA. There are extremely important events that will decide the future. These will significantly increase the value of IOTA. If you want a price forecast, I recommend this to you: https://medium.com/@peterryszkiewicz/iota-price-analysis-and-predictions-1a5855a7c36 . There are inescapable events enumerated and their impact on the price. By the way, Dominik Schiener sees it as possible for IOTA to reach a market capitalization of $ 1 trillion (Currently $ 10 billion, which is a hundredfold increase). And I also see that as possible if it really becomes the backbone of the IoT. The competition is at least not very high at the moment and we know from examples like Bitcoin or Ethereum which effects the first mover advantage has.

If you intend to buy IOTA I recommend you Binance and I would be glad if you would use my Refferal-Link if you do not have an account yet. In addition to Binance, you can also buy IOTA on Bitfinex.