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Why I do not like IOTA.. Please look into this more and let me know your thoughts! by bigdeej

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· @bigdeej ·
$16.17
Why I do not like IOTA.. Please look into this more and let me know your thoughts!
This is what I find most disturbing:
"The major difference that is worth mentioning (apart from the DAG vs. Blockchain) is how IOTA achieves consensus and how transactions are made. As mentioned previously, there are no miners. What this means is that each participant in the network that wants to make a transaction has to actively participate in the consensus of the network by approving 2 past transactions. " - https://iota.readme.io/docs/what-is-iota
And referencing their whitepaper:
"In fact, it can be shown that the strategy of one large double-spending transaction
increases the attacker’s chances of being successful. In the “ideal” situation of this
mathematical model, this attack always succeeds."
- https://iota.org/IOTA_Whitepaper.pdf (page 16)
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 662 others
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vote details (726)
@arcange ·
Congratulations @bigdeej!
Your post was mentioned in the [hit parade](https://steemit.com/hit-parade/@arcange/daily-hit-parade-20171206) in the following category:

* Upvotes - Ranked 4 with 672 upvotes
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@screenname ·
Re: Why I do not like IOTA.. Please look into this more and let me know your thoughts!
<p>This post has been ranked within the top 10 most undervalued posts in the first half of Dec 06. We estimate that this post is undervalued by $232.21 as compared to a scenario in which every voter had an equal say.</p> 
<p>See the full rankings and details in <a href="https://steemit.com/curation/@screenname/the-daily-tribune-most-undervalued-posts-of-dec-06---part-i">The Daily Tribune: Dec 06 - Part I</a>. You can also read about some of our methodology, data analysis and technical details in <a href="https://steemit.com/curation/@screenname/introducing-the-daily-tribune-most-undervalued-posts-of-nov-04---part-i">our initial post</a>.</p>
<p>If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.</p>
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@tolkatore ·
I may not know much, but what I do know, is that people are lazy, and do not like to do things without incentive, so I personally do not see this project succeeding.

I just wrote an article this morning about IOTA as well, so feel free to check it out to see what other reasons I have as to why I don't think it will succeed:

https://steemit.com/cryptocurrency/@tolkatore/how-will-iota-become-a-reality-without-fees
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