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IOTA: Fans, Flaws, and Fake News

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IOTA
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With the recent online scandal with IOTA, it can be a real shame what people are ready to do for an occasional rise or two – we are of course talking about FUD: the cases of fake news that had become a tradition occurring on a daily basis across social media like Twitter. We are analyzing this matter, also talking about what IOTA developers did wrong to have caused this mess.

IOTA #fakenews and what is FUD all about?

Normally, if you wanted to invest in any of the cryptocurrencies that are currently circulating the market, the first thing you would do is to do a thorough research, regardless of which currencies we are talking about. While doing your research you may find lots of useful and relevant information that will help you find your way around, but what you might not know is that you can easily run across FUD, or else known as fake news.

Twitter seems to be the main tool for following up with how well currencies are doing given the fact that lots of people are sharing new information about the currencies at all times. Even developers have found social media very useful as they can now share their announcements and get to a wide array of targeted audiences quickly.

However, there have been multiple cases of developers or community members sharing fake news to boost their sales. All developers also have official websites for their currencies where they can blog about their coins and tokens, directly addressing the holders and visitors.

But, Twitter, as well as other social media platforms, does make all that information more available, and more importantly: more chewable. So, more and more people started to share fake news to boost sales, but IOTA went to a whole new level a couple of days ago when some very important flaws were discovered in IOTA’s protocols.

Apparently, IOTA, which is currently among the top 10 currencies according to the global coin ranking list, has failed to face the reality of the fact that this platform doesn’t have the required technological potential for the project it is trying to run.

Ever since multiple trusted platforms have announced that IOTA is not trading at the realistic price and that the price of this currency should go under its current value, providing all proof needed to confirm this story, IOTA fans and developers seem to have gone mad about it.

What Happened with IOTA “Scandal”

The initial problem that started this online war among IOTA fans that mostly went on Twitter, one of the largest social platforms, was the announcement of cryptocurrency experts that have shared their opinion publically about having IOTA trading at an unrealistically high price when compared to its true value and technical capabilities.

To support their “accusation,” these experts have provided the proof that supported their story. The proof lied in the fact that IOTA, although trading at a good solid price, has no reason for further progress due to purposeful flaws in the system. That having said, the experts have proven that IOTA is a centralized network as it has no qualities of a decentralized blockchain network. Further, they have added that the network is unstable with critical errors and flaws that are considered to be set on purpose and with intention.

After this announcement, confirmed widely across the internet with solid proof of the story, developers have refused to talk to the press and answer any questions regarding IOTA, its systems, alleged flaws and the most recently confirmed accusations.

But, although IOTA developers are leading their war silently, for now, IOTA fans and users are pretty loud about this occasion. Ever since the news about IOTA was announced, the fans have gone to mode “it’s us against the world,” so Twitter has easily become a pot of hot boiling water.

The IOTA fans and promoters have gone as far as reporting Twitter accounts of anyone sharing this confirmed information, which is in all ways absurd. Rather than leading an online war, promoters and developers should probably reflect on their mistakes and make right what can be made right.

What will happen to IOTA?

There can’t still be any claims for certain as this news and confirmed accusations are still fresh. What is for certain is that a lot of investors and users are complaining about their funds being stolen and that the network they are using is not in any way based on blockchain technology or decentralized for that matter.

For now, IOTA is starting to sink with its price falling for over -4%, but it is still holding onto the value of more than 2$ per one unit, which is as proven with the recent information far more than this token should be trading at.

The recent fall in price might be the result of the IOTA promoters sharing fake news as much as the result of the recent discovery that IOTA can’t be considered to be a decentralized platform.

If the allegations are true, more and more holders will be selling their tokens, which means that the price should consequently fall.

We will be updating our subscribers as soon as we know more. For the latest updates on IOTA, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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