RE: Sorry folks, but IOTA has no future... unless people are really going to work on it for free indefinitely.

[eosfan]

• centralized coordinator
• untested security code on live network (b/c currently defended by coordinator)
• intermittent pow is easily overwhelmed by focused pow attack
• double spend proof (w/o coordinator) relies on expectation of spending by others and tying the tx to main tangle making it higher probability as time goes to infinity it wasn't double spent, but doesn't take into account parallel spending to create enormous amount of tx spending same coins or minor transaction by attacker tying double spends to main tangle via easy spam.

Comments

[tolkatore]

Okay, so I'm a total a noob, was this all bad stuff you are referring to.

If you could break it down in a more easier to understand way I'd much appreciate it, thank you!

[eosfan]

https://medium.com/@ercwl/iota-is-centralized-6289246e7b4d

https://hacked.com/ico-analysis-iota/

"No publicly reviewed, formal analysis is available, however." https://arxiv.org/abs/1707.01873

tldr: it's high risk, maybe high reward

[tolkatore]

Hey thanks, I'm checking this out now!