The reality of IOTA 📢 news bombshell today 📉

felipesuarez (50) in cryptocurrency • 7 years ago (edited)

I dont know about you, but I have been hearing a lot about IOTA lately.

IOTA this and IOTA that . Today we have very important news about this new crypto currency but the news are a bombshell.

But what is IOTA?

Iota is a brand new and novel micro-transaction cryptotoken optimized for the Internet-of-Things (IoT).

It's supposed to be a great project because it has a lot of big companies involved in it and they are supposed to be doing research together. At least that was the understanding. It was mentioned or hinted that the IOTA group if working with big internet companies like Microsoft doing research about how IOTA will power the internet of things in the near future. This assumption was the main reason that the price of IOTA has been surging for the past weeks.

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There are many Youtubers promoting IOTA with this argument and it sounds great, but...

The reality is different

image source.

Because everybody in Youtube and the news have been saying that IOTA has a Microsoft partnership, the IOTA team has made a recent clarification. The IOTA team hasconfirmed that it currently has NO formal partnership with Microsoft, despite its announcement from earlier in November.

Today, 3 articles saying the same have been published:

https://thenextweb.com/hardfork/2017/12/12/iota-partnership-microsoft-marketplace/

https://cointelegraph.com/news/iota-clarifies-misleading-microsoft-quote-no-official-partnership

https://www.cryptocoinsnews.com/iota-price-drops-co-founder-admits-microsoft-not-partner-participant/

"Amidst controversy surrounding the nature of the partnership between Microsoft and IOTA, the IOTA Foundation has clarified that it does not have a strategic partnership with Microsoft."

What? It doesn't? 😱

I have to admit that the clarification by the IOTA foundation is not encouraging at all. By making this clarification we can now see that most of what was said about IOTA has been hype and this sucks. Because of these recent news, the price of IOTA has gone down📉. The question is how much more is the price going to be down?

Should one buy IOTA at low price? Maybe, I believe the price will continue to go down for while because of the recent news. Is this an opportunity to buy IOTA at a low price and wait for it to go up? Maybe but if they are not really working with anybody is it worth it? IS IOTA really a good project? Please share your thoughts because I am curious to see what you have to say about this.

I do believe in IOTA but people have questions

While many believe in IOTA, I see others who are very critical to it. Some of the questions I have seen are the following::

The developers have written their own hash, which is a big no no when it comes to cryptos
There is no decentralized product
The tangle technology isn't new and the big problem with it is to get it decentralized

These are some questions I have seen but I have not seen any answers yet, do you know about these questions? Please let us know...

What next for IOTA?

I do want to believe in IOTA but I feel with the recent reality check the price might go down creating another opportunity to enter the IOTA game. The hope will be that the IOTA foundation can get the ball moving and creating real partnerships for development, research and operations at big scales with big companies. If this is possible, I think IOTA will have a chance but now they have to prove themselves. IOTA can be one of the biggest opportunities today but it can also be one of the biggest fails so that is the question right now.

I am a believer in IOTA but I think now it will take more time to prove itself. Do you guys smell an oportunity?

What do you think about the communication or miscommunication from IOTA foundation about their supposedly partnership with Microsoft that we now know it's total BS?

Will you give IOTA another chance? Do you think it can come back? Do you believe in the IOTA project? Let's talk...

cryptocurrency iota crypto beyondbitcoin microsoft

7 years ago by felipesuarez (50)

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cpufronz (57) · 7 years ago

IOTA has definitely potential, even though the recent hype was just a storm in a teacup (apparently), I see the long term potential there: from a technological point of view it is probably better to become the digital cash that Bitcoin tried to be.
The one thing I'm not sure about is that since IOTA has a clearly defined focus (internet of things, machine-to-machine transactions): will it be adapted by the mainstream or if it will stay in its niche?

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3 votes

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felipesuarez (50) · 7 years ago

it will be adapted to the mainsteam on that area of IoT, etc. It will enable mainstream products to 'talk' to each other in theory by mainstream companies , that's the hope.
Yeah it does have potential but now they even have more pressure to deliver something because of the recent news that they do not have a formal partnership with Microsoft or anybody, they are just Microsoft Azure customers not partners.

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cpufronz (57) · 7 years ago

I just realised that I wasn't clear enough in what I wanted to say: I'm wondering if IOTA will also become a crypto currency that is used outside of IoT, e.g. for online shopping

Yes now they under more pressure to deliver, but I think that all the attention IOTA got recently also helped to promote the project, which is beneficial.

$0.54

4 votes

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felipesuarez (50) · 7 years ago

yeah I mean those guys from the IOTA foundation are marketing geniuses 😁 and the price today is still over $4
Should we proceed to invest in IOTA?

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1 vote

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cpufronz (57) · 7 years ago

Yes they are 🙂

I would say yes, if the price drops to what it was before the hype. Even if it only drops to around $2, I would be very tempted to invest. I think the time of IOTA is about to come.