Email exchange between MIT Media Lab and the IOTA Foundation [pdf]

Re:Email exchange between MIT Media Lab and the IOTA Foundat... by loxias on Sunday February 25, 2018 @01:16AM (#16457430)

Totally. And not to sound holier than thou, I'm guilty of "unnecessary re-implementation" possibly more than most. I use my own window manager, have written my own high performance disk archival compression, wrote my own (super)multichannel (>8) lossless audio format, am working on my own large sequence data (think: DNA) native clustering algorithm....

But for the love of god man, /never invent your own crypto/

[ Parent | on HN ]

Re:Email exchange between MIT Media Lab and the IOTA Foundat... by loxias on Sunday February 25, 2018 @01:19AM (#16457440)

Also, honest question: Anyone know of any exchange or means to take a short position on IOTA? I only did so though "never buying any".

[ Parent | on HN ]

Re:Email exchange between MIT Media Lab and the IOTA Foundat... by charleslmunger on Sunday February 25, 2018 @02:19AM (#16457656)

Friendly reminder that iota's cryptographic weaknesses are immaterial, because it's not actually a decentralized currency - there's the coordinator, a server run by the iota team that controls transactions. The entire value of it today is speculation - if a demonstration of the complete incompetence and dishonesty of the team, exposed by a researchers at a world renowned institution that laymen are familiar with wouldn't make the price drop to zero, what hope is there that the crash will happen before you have to close your short position? And if crypto currencies crash, what is the likelihood that whatever exchange you placed your bet on is still solvent?

The market can remain irrational longer than you can remain solvent. Be content to eat popcorn and wait.

[ Parent | on HN ]