11/7/2023 0 Comments Future of iota coin reddit![]() That will increase demand, so investors can sell later for profit, even if they don't plan to use it.ĭemand increases when something is useful, a car which doesn't require gas certainly is. I just explained why Iota is superior for people who want to use it. If you buy ETH and don't plan to use it, then you speculate that future demand for ETH will be higher than today so that you can sell for profit. However this is bound to be even lesser of a problem when IOTA introduces sharding, which will be looked into after Coordicide. This way, the more a Dapp is used the more IOTA tokens / Mana those DApp providers will need to allocate in order to confirm transactions quicker during times of congestion. In the background, the Quorom of nodes that are running the smart contract will need to have enough Mana( and in turn enough IOTA tokens) in order to deal with the congestion that they expect on their Dapp. The difference between such a fee on the Ethereum network and on the Future IOTA network is that unlike Ethereum’s congestion and fee driven mechanism that creates enormous gas fees during times of network congestion, IOTA DApps will be able to charge a fixed, predictable fee regardless of congestion. ![]() However when there are actually DApps running on IOTA Smart Contracts (Which is a Layer 2 Iota protocol), Apps can choose to charge their fee based on the service that the provide. In the IOTA Network you do not need to pay for value transactions and for minting digital assets. If I invest and buy some miota what can I do with them too increase the value of my holdings? Do I have to make my own node? I have a 24/7 computers that do crypto stuff but I haven't seen an easy way to use my iota investment. Eventually ppl can stake eth and make tokens on their initial investmen. So I'm using them to invest in other cryptos. With eth I can't do anything with them, but I can mine them. In ten years if they're worth $20 then that was a great investment because my initial investment gained value and my total number of assets increased. Right now the tokens are worth$1.60 or whatever. With ada I can stake it and gain 5% tokens per year. The difference im seeing and the reason for my questions is in trying to figure out is if I buy some iota what can I do with it so that I make money with it? I'm less clear on iota I know Iota is used for internet of things. Ada same use case as eth but different method. Eth can be used to pay gas fees for smart contacts. I see the purpose and value of many crypto. I think you're misunderstanding my question. This is about getting a clear picture of the vision and execution and having the balls to act on it. And yes, industry is thinking about monetizing data: check this as just one example: ĭYOR and change the question: Or do I just hold them and trust they will go up in value? Bear in mind that the M2M / IOT niche market is just one of the verticals IF is actively preparing for and that there are several more where they will be competing with other projects. ![]() There are many patents about IOTA payments solutions. Then comes your question: "Or do I just hold them hoping they go up in value?" Your DYOR should not be centered around hype and staking or mining rewards, but the present state of the prospective IOTA adopters and their preparations and patents. IOTA will provide the liquidity needed for this M2M economy and corporations and organizations will have to buy IOTA and increase the price by doing so in order to (dynamically) provide the countervalue for the turnover in the M2M economy. As a small device cannot handle fx transactions in dozens of currency's, the protocol would provide for ONE currency -> IOTA. That would involve micropayments between end machines (edge) in the IoT with only 'light' computing capacity. When IOTA was started, the founders thought that all of the above would not work in the IoT, where machines were to transact data and value with other machines in the IoT. You seem to be quite happy with that, so I would say: carry on. In this news, basically all projects claim they can do anything better than anyone else. This requires some frequent good news, which is provided regularly, of course. Nice for the founders and other main stakeholders who need to sell their free ICO coins to someone else over time. Also, in staking, your money is being used to make the token/coin scarce and more expensive. ![]() you cannot beat the costs of a database in the cloud solution. This results in fees for the end user of the 'services', but because these fees are variable the project becomes useless for many use cases, because a.o. In many/most PoW or PoS projects your money or energy bill is used to provide security for the network.
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