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IOTA: Fans, Flaws, and Fake News
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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

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Top 3 Crypto Trends That Might Go Big in Q2 2019

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crypto trends
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So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.

The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.

1. The rise of IEOs

Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.

In 2019, however, IEOs (Initial Exchange Offerings) started attracting the…

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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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Ripple
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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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