RE: IOTA - The good, the Bad (and the Ugly)
Order of transactions will be implemented in less than a month, according to this statement by Dom:
"we are now adding the ability to have timestamps (which is also necessary for the next big thing that we're working on on top of IOTA)."
Additionally, you say that "you will have to use a cloud ASIC farm for the Proof Of Work". This isn't true, as PoW can already be outsourced to anyone with a GPU if someone doesn't want to do the PoW themselves. Cloud farms will only be needed for cryptos like Bitcoin, which leads me to my last point.
Relative to other cryptocurrencies, IOTA is feeless. The cost of electricity you consume while doing PoW pales in comparison to Bitcoin transaction fees, which at the time are almost $5 to send BTC from Coinbase.
Enforced timestamps do by no means prevent transaction order from changing. Transaction propagation is slow and you may receive an 'early' transaction way later than newer ones, in this case you will have to revert the early transaction and do them all again, this is extremely inefficient (chances you have an orphaned block in ethereum are way lower for comparison, because there are simply less blocks).
What I meant with that is that you will have to outsource your PoW to a third party/self-hosted service, at what scale these cloud services will be depends on the demand for them/how many transactions per second you need. Anyway, my point is simply that doing them locally may become more difficult over time once ASICs are introduced (which the hardware team is working on).
Yep I think the PoW structure for IOTA is far more efficient than that of other cryptos, especially because IOTA is mainly for microtransactions, we don't require a huge cost to rewrite the tangle direction.