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RE: IOTA - The Cryptocurrency That Jumped Into 6th Position
For just clarifications for the unit used on IOT.
By default the exchanges uses:
MIOTA != IOTA
So the current price is $0.53 per MIOTA and not $0.53 per IOTA.
1 IOTA = $0.00000053
1 meta-IOTA = $0.53
1 giga-IOTA = $530
1 mega-IOTA = 1,000,000 IOTA
1 giga-IOTA = 1,000,000,000 IOTA
*Spot market price as of 2017-06-15
At first, I got confused as well. XD
The reason behind it though as I've read is to eliminate decimals in transactions.
if you check the circulating supply of the currency in coinmarketcap you will learn a lot. It doubled more tha 100times just an hour ago. and the price went down more than 100 times as well. so everybody who invested their money in this coin will loose 99.9% of their investment. kindly if you are looking forward to invest in a specific cryptocurrency make sure that it is availaible in too many exchanges. IOT is available only on Bittfinex. thats a warining, stay away of it. there are a lot of opportunities for all crypto investors. I do not advice anyone to put a single sent in it.
You did not do your research very well or you would not be saying that, IOTA as a lot more advantages than other cryptocurrencies based on the blockchain.
First and very important the crypto is not based on the outdated Blockchain and for this reason no wast of money to pay miners.(transactions are free)
Also the confirmations are much faster.
The future of fee-less micro transactions and a tangle that functions at lightning speed. IOTA is the safest investment in the next 5 years.
I think it might be you who has not done all of the research. IOTA looks extremely impressive and might actually be the next evolution in this entire space. First there was bitcoin, then there was ethereum, now there is IOTA (aka the tangle)
da fuck is miota :D
http://iotaprice.com/
M-m-m-my Iota!
Thank you!!!! Really? Do people see how many of these coins are in circulation? I've literally never seen a coin with such little potential. This coin will be gone by years end.....there's 2,779,530,283,277,760 IOT *.....that's 2 QUADRILLION. You have to be kidding me. The biggest pump and dump of all time
@Queeneleanor The actual supply is to prevent decimals in transactions. There is alot of coins but the scale-ability is insane The real question here is when will we start seeing IOTAS being sold for 50 cents instead of MIOTAS
Got it...I don't know still though. My 6th sense is telling me to stay away. Then again, this is the same guy who bought into bitconnect! Stupidest thing I've ever done...just hoping they stick around for another 6 months.lol
Supposedly IoT will be $11T industry within a decade. That's trillions with a T. Suppose electricity bill is charged at 1 IOTA per kW/h, 1 IOTA could in fact cost $0.10. Money is all relative. In fact if all aspects of life one day run on a blockchain, money as we know it could disappear.
i had a dream iota would hit 0.01 cents lol https://steemit.com/iota/@chuckyfucky/my-little-iota-dream
true!
lol
It only has 33% more units than Bitcoin so i guess Bitcoin is a pump & dump too then.
Did you even look into the technology? It might change everything if it's secure. Time will tell...
note to self. one third is small. got it.
but the website is slick
It's because coin market cap was displaying the value in M-IOTA instead of IOTA but had labelled it IOTA, then they decided to display the value in IOTA, then they went back to M-IOTA labelled IOTA.
(1 M-IOTA is 1 000 000 IOTA) M is for Mega.
I really love the idea behind IOTA, and it could verry likely do well, but hearing Bitfinex send me shivers down my spine. Im really new to crypto, but ive allready heard way too much about Bitfinex. Hope they will expand to other sellers, so i can take a small risk on them. Happy trading ;)
It is still absolute Wild West out there.
This is defiantly one to keep eye on. what do you think about all the smaller currency the pre trade ones ?
thanks @cryptosteve what do you think about Tezo's?
IOTA price is falling because of the way they initially distributed the tokens. Every IOTA that will ever exist was created in the first transaction. Those IOTA then spread out from there to more people. The problem is that its not spreading very much. Years after its creation 82% of all IOTA is still held by only a handful of wallets.
Once IOTA hit the markets it became easy to sell these tokens and cash out. This is inherently inflationary, meaning a huge increase in circulating money decreases the value of each unit of that money. Huge sums of IOTA are being dumped onto the markets as the original whales cash out on their 1.5 bil market cap. This will continue for quite some time until the gigantic original accounts have been emptied. I have no idea where it will bottom out, but if bytecoin or dogecoin is any indication, I would guess sub-penny levels.
In theory this process will not change the market cap. The same amount of dollars are still in the market so it does not matter how many tokens are floating around. In practice everyone will see the value of their tokens plummeting and panic sell immediately. This process will remove money from the market and lower the market cap.
Its a little bit like money printing on a massive scale. Like when Wiemar Germany decided to print out quadrillions of additional marks to cover their debts. The flood of additional notes caused the value to drop so dramatically they eventually were worth less than the paper they were printed on.
Agreed , don't invest in IOTA
Yeah its a bit odd. Upvoted for visibilty ;) So users can do the math!
Yeah, indeed. Thanks! :D
Let's spread this info because there have been a couple of scams going around when buying it personally to a seller and the buyer thinks the conversion is what it is but it is not.
Yeah i got on some time ago by secure escrow but i heard some bad stuff. Thanks for posting, really appreciated!
No problem at all. I don't want that to happen to anyone. It feels really awful getting scammed.
Thanks for the info~
Yes but on the bitfinex wallet it stil says iota although it's miotas ^^
I would not register at Bitfinex. They are a scam. They hold withdrawals and delist coins.
I have not had a problem with Bitfinex. I have however had problems with Poloniex. They still owe me half an ether. They haven't responded to my customer support ticket in over three weeks now. Bitfinex works well for me.
As of today is IOT the 7th largest Crypto currency with no fees and with the possibility of being among the top three in the near future, its bullish trend is an eye catching. Conclusively, it is too early to do anything with it, in my opinion let give it couple of months to assess its stability in Crypto market.
lol I buy 600 iota(miot) on bitfinix with 0.6 and when I see is 0.0000006 I know ....I screwed up and I sell whit 0.4 I lost just 120 $ fuuuu but I learned :D Never buy... first day crypto coin listed :D
I just bought 100 Iota, or should I say 100,000,000 😋
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