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On January 1st, I announced that to kick off the year, I'd be posting about my crypto portfolio: https://steemit.com/cryptocurrency/@davidpakman/welcome-to-2018-my-cryptocurrency-portfolio
I'll be posting about each currency I hold in the order I took positions in them. Here are the posts so far:
--Bitcoin (BTC): https://steemit.com/cryptocurrency/@davidpakman/my-crypto-portfolio-day-1-bitcoin
--Ethereum (ETH): https://steemit.com/cryptocurrency/@davidpakman/my-crypto-portfolio-coin-2-ethereum-eth
--Litecoin (LTC): https://steemit.com/cryptocurrency/@davidpakman/my-crypto-portfolio-coin-3-litecoin-ltc
--NEO & GAS: https://steemit.com/cryptocurrency/@davidpakman/my-crypto-portfolio-coins-4-and-5-neo-and-gas
Today, I'll talk about the 6th crypto I acquired, IOTA, which by market cap is currently the 10th biggest coin:
What originally drew me to IOTA was not, strictly speaking, the possibility of the token increasing in value over time -- although certainly that's an underlying reason for any investment -- but rather the partnership potential for IOTA, which we've seen come to fruition over the last couple of months.
With other coins, we often are told very general and overarching possible uses, which commonly are as broad as "stores of value" or "transaction currencies," but with IOTA, there's the more specific focus on being used for secure communications and transaction payments involving machines on the Internet of Things (which in and of itself is a topic worthy of its own post). In short, however, the Internet of Things is "network of physical devices, vehicles, home appliances and other items embedded with electronics, software, sensors, actuators, and network connectivity which enables these objects to connect and exchange data" (Source: Wikipedia).
Because IOTA doesn't use the traditional blockchain, but rather is built on DAG technology -- its own topic, once again -- the use cases for IOTA are quite expansive.
This underlying opportunity and use for IOTA has already let to collaborations with Microsoft, Fijutsu, and a number of other major companies.
Without attempting to dig into the technology in a way that exceeds my knowledge, the advantages of the structure of IOTA as I understand them include massive scalability at very little cost.
I am holding IOTA with a long term outlook, and it currently makes up between 5% and 6% of my crypto portfolio.
Are you in IOTA? Are you proactively NOT in IOTA? In either case, I'd be interested in hearing your thoughts in the comments
Iota is a coin by December 2018 the price could reach $200.
I will get some definitely.
It will rise just like to $200.
I would be SHOCKED but also thrilled if IOTA hit $200
I should get mine while i still can.
i have 1000 Miota :D i'm happy I pay 50 cents for 1 million iota
what is Miota ?
i just hear from this post about IOTA and want to try it , nice info
What it feels like surviving bitcoin FUD with all your crypto still in tack.
I like the concept but haven't dug into the technology. Any company that can partner with traditional companies will be at a huge advantage. I will keep my eye on this project. Seems like a great way to diversify but concerned that it there may be established technology competitors.
Hi David; I'm a fan of #davidpakmanshow. Didn't know you were into #Cryptocurrency. :)
Indeed I am!
Great.
I am not fully convinced about IOTA. Although don't have anything against it as plenty of peers have majority of their portfolio in it. It shows promise and if i have any extra funds, i may purchase some.
I'm not currently holding IOTA but have been looking to invest into it, so thank you for your post. It's definitely risen a lot over this past year and am hoping it continues its gains this year as well!
Iota has not yet met the expectations. Despite this, the Tangle system promises hope.
I am not in IOTA
All your post are either eye opening or helpful..and I must say you are the bomb mehn! Keep it up...you have got a lot of listeners and I am one of them..#davidpakman rocks
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Awesome stuff. I reposted a bunch of you posts in @ Blockchain Hawaii on Facebook. we have a small, but growing crypto community, we all enjoy the advice.
Iota is a brand new and novel micro-transaction cryptotoken optimized for the Internet-of-Things (IoT). Unlike the complex and heavy blockchains of Bitcoin and the like, which were designed with other uses in mind, Iota is created to be as lightweight as possible, hence the name "Iota" with emphasis on the ‘IoT’ part.
The number of connected devices that will permeate our modern landscape in the coming decade is estimated to be 50 billion(!) Each of these are designed to make the world a better and more seamless place for us. Tied to this fantastic promise are of course a ton of obstacles to be overcome, of which one major one is micro-transactions. These connected IoT devices must be able to automatically pay miniscule amounts to one another in a frictionless manner without having to compromise on product design by introducing additional hardware. This is why Iota was conceived.
While it was developed as a solution to scalability issues faced in IoT, the underlying protocol is agnostic and can be applied in any other use-cases that utilize micro-transactions.
In order to achieve these audacious goals Iota’s design diverged radically from blockchain cryptocurrencies. It still retains the core principle ideas of the distributed consensus blockchain, but in order to be able to scale to the size of the coming Internet-of-Things ecosystem with tens of billions of devices that are connected to each other, it needed to be very lightweight and efficient. This problem is solved by Iota’s core innovation: the tangle.
Smart move keep on keeping on david
For anyone reading David's posts about his crypto portfolio and are interested in learning more I highly recommend they check out @ummjackson which is Palmer Jackson, the creator of Dogecoin. He's done a while bunch of introductory videos on blockchain and cryptocurrencies. He has not covered Iota yet but said he may do in the future. His most recent video talked about Ripple.
https://steemit.com/@ummjackson
I'm not in Iota right now because I think it is overvalued. The tangle system is unproven and has issues that are not resolved yet. No one really knows if it is secure or not. A major driver of Iota being so high now was a pre Christmas run up after people heard Microsoft had bought a huge pile of IOTA and that they were a partner now - even though that was later clarified and denied: https://thenextweb.com/hardfork/2017/12/12/iota-partnership-microsoft-marketplace/
An infinitely scalable and lightweight consensus protocol for decentralised systems would be hugely important but so far I don't think Iota is it - yet.
may be i reasteam your post
Same portfolio here too.
Kindly upvote