Bitfinex

[Nedkt]

Any comments on bitfinex? I am going to be putting a significant amount of money on that exchange to grab some IOTA on the 13th. Anyone have bad experiences or concerns? I saw the fiat withdrawal issues from April, but I will go crypto to crypto for this. 

I just did a test transfer of some funds and it was quick. So far I see no withdrawal limits and I am not validated. A bit surprising. I don't plan on having my money linger there. I will transfer IOT off the exchange to a local wallet.

[luck2Birish]

Good call.

I think IOTA will become the new "blue chip" coin.

It will catapult to a market cap of $1.5 Billion by the 14th. Watch.

IOTA is fundamentally different from blockchain. Their 'Tangle" design is unique and is built to scale. Perfect for the IoT.

IOTA is the real deal, just like XRP.

I just wish I could have purchased 10 Giota before it hit the market. Oh well!!!

Even though there will be 2.77 Quadrillion iota, there will be soooooooo many devices and machines "talking" to eachother through the IoT using iota that we'll NEED that many units so that we're not handcuffed by supply.

I could see the "market cap" for something like the IoT hitting $2 Trillion by 2025 and $5 Trillion by 2030. That's just based off extrapolation and a little bit of guess-work.

Edited June 8, 2017 by luck2Birish

[Nedkt]

9 hours ago, luck2Birish said:

Good call.

I think IOTA will become the new "blue chip" coin.

It will catapult to a market cap of $1.5 Billion by the 14th. Watch.

IOTA is fundamentally different from blockchain. Their 'Tangle" design is unique and is built to scale. Perfect for the IoT.

IOTA is the real deal, just like XRP.

I just wish I could have purchased 10 Giota before it hit the market. Oh well!!!

Even though there will be 2.77 Quadrillion iota, there will be soooooooo many devices and machines "talking" to eachother through the IoT using iota that we'll NEED that many units so that we're not handcuffed by supply.

I could see the "market cap" for something like the IoT hitting $2 Trillion by 2025 and $5 Trillion by 2030. That's just based off extrapolation and a little bit of guess-work.

I am very impressed with what I have seen. Technically excellent. Their solution is innovative and right on the mark. The token is core to the technology, not incidental. IOT is huge and getting bigger and this technology is actually needed. There is no effective competition. Team looks good. All around it's strong. I will be split between Ripple and IOTA primarily. I agree with $1.5B almost immediately. 

Edited June 9, 2017 by Nedkt

[WillGetThere]

What is a price range per token they are thinking of? Any ideas on pricing?

Thanks

[Guest]

38 minutes ago, WillGetThere said:

What is a price range per token they are thinking of? Any ideas on pricing?

Thanks

this shows current price as of when the Slack YDX exchange/deposits was halted:

http://iotaprice.com

but PLEASE NOTE: this price might not reflect real demand, we don't know yet until there are a few exchanges with decent volume -- take the above price chart as a very, very rough guide... once iota token hits exchanges it could go up or down, before it finds its market value

my opinion is, iota may be as good or even superior to xrp in many ways **IF** they can pull off what they're claiming AND they can carry on distributing the coin in a responsible fashion and not "do a Jed" on the allocation

so just a heads up -- i think iota has YUUUUGE potential, a total game change, but it's still VERY early tech (they are only a couple of years old really) and you gotta be careful with market manipulation through hype/pumps too -- do your research and due diligence, and don't trust any trollbox or idiotic chart squiggles !!!

ofc the concern is... FOMO, i.e. not buying for a while until the exchange finds a stable price level BUT... if it shoots up you'll kick yourself... but that's always the way -- my personal approach is conservative, ill wait a few days to see what the market does, but then i have that luxury 

if people are obviously freaking out about the speed, security features etc of the tech and it gets hyped and spikes fast... well i might jump in, but i am in the lucky position of being an early bird, so i win either way really, i am just being greedy... plus i LOVE the iota concept/tech, but for short and long term plays

so good luck, and do your due diligence!!! 

Edited June 9, 2017 by Guest

[Guest]

On 08/06/2017 at 10:19 PM, luck2Birish said:

IOTA is the real deal, just like XRP.

agree, this is a very serious piece of tech and pretty hot team behind it all, with good funding 

[Nedkt]

1 hour ago, zerpdigger said:

this shows current price as of when the Slack YDX exchange/deposits was halted:

http://iotaprice.com

but PLEASE NOTE: this price might not reflect real demand, we don't know yet until there are a few exchanges with decent volume -- take the above price chart as a very, very rough guide... once iota token hits exchanges it could go up or down, before it finds its market value

my opinion is, iota may be as good or even superior to xrp in many ways **IF** they can pull off what they're claiming AND they can carry on distributing the coin in a responsible fashion and not "do a Jed" on the allocation

so just a heads up -- i think iota has YUUUUGE potential, a total game change, but it's still VERY early tech (they are only a couple of years old really) and you gotta be careful with market manipulation through hype/pumps too -- do your research and due diligence, and don't trust any trollbox or idiotic chart squiggles !!!

ofc the concern is... FOMO, i.e. not buying for a while until the exchange finds a stable price level BUT... if it shoots up you'll kick yourself... but that's always the way -- my personal approach is conservative, ill wait a few days to see what the market does, but then i have that luxury 

if people are obviously freaking out about the speed, security features etc of the tech and it gets hyped and spikes fast... well i might jump in, but i am in the lucky position of being an early bird, so i win either way really, i am just being greedy... plus i LOVE the iota concept/tech, but for short and long term plays

so good luck, and do your due diligence!!! 

I have heard it is now 150 to 200 (MIOTA µBTC Value) for current trades on slack. No idea if it starts at that level or not on the exchange. I am hoping for approx 100 to 130 to start.

I created a quick calculator give me current "market cap" depending on the current MIOTA price and BTC price. If market cap is much more than $1.2B USD out of the gate, I will have to think about whether to buy after the initial hype. I assume it will achieve a market cap of $2B pretty quickly. Medium term I will be surprised if it doesn't surpass $5B.

This tech is the most fundamental game changer in this space I have seen. It learned from all the mistakes of what came before and it has all the glitz of being a great solution for IOT problems. It's got a real world use case that makes a lot of sense. The IOTA currency is central to the solution. It's intrinsic and that's key. It's not just pasted on.

I am looking for the corporate backing they already have in place. Anyone link me to that? 

[Guest]

10 hours ago, Nedkt said:

I have heard it is now 150 to 200 (MIOTA µBTC Value) for current trades on slack. No idea if it starts at that level or not on the exchange. I am hoping for approx 100 to 130 to start.

I created a quick calculator give me current "market cap" depending on the current MIOTA price and BTC price. If market cap is much more than $1.2B USD out of the gate, I will have to think about whether to buy after the initial hype. I assume it will achieve a market cap of $2B pretty quickly. Medium term I will be surprised if it doesn't surpass $5B.

This tech is the most fundamental game changer in this space I have seen. It learned from all the mistakes of what came before and it has all the glitz of being a great solution for IOT problems. It's got a real world use case that makes a lot of sense. The IOTA currency is central to the solution. It's intrinsic and that's key. It's not just pasted on.

I am looking for the corporate backing they already have in place. Anyone link me to that? 

hmmm that's interesting, but i wonder if the current trades at higher prices than on the chart are just because there are no more deposits and so people are just scrambling to pay anything before exchange launch? just like when theres low volume/liquidity on a gateway or exchange you get huge gaps in the buy/sell orders?

i agree with the potential for the tech, if as yet somewhat unproven ... but they were testing nearly 200 txps and the next test this year is for 1000 txps, in theory they could utterly smash Ripple's consensus ledger, once they're out of "beta" phase and the network has grown 

as for corporate, they are working with some big names developing m2m and other applications (inc. settlement! beware xrp!):

http://www.ibtimes.co.uk/blockchain-automating-machine-transactions-fourth-industrial-revolution-1608216

they are developing with canonical/ubuntu and are prototyping for the telecoms industry:

https://insights.ubuntu.com/2017/02/20/iota-iot-revolutionized-with-a-ledger/

https://innovationhub.innogy.com/news-event/3lj6DX6LS0C4SyKmgEOiQq/meet-our-future-customers--machines-with-wallets

the official stance on use cases is this:

Quote

IOTA's main features (in its current form) are feeless micropayments and secure data transfer and data anchoring. With these two features, combined with IOTA's scalability and partition tolerance we can derive a plethora of use cases which are mostly only possible with IOTA. 

The primary focus area is obviously the Internet of Things, especially in areas such as Smart Cities, Infrastructure and Smart Grid, Supply Chain, Transportation and Mobility. Apart from that, IOTA can also function as the backbone for any peer to peer transactional settlement needs, such as web payments or even remittances.

 epic! 

[Guest]

also to the mods/admin: can you change the header title to reflect what this thread's about, e.g. something like:

IoTA launch on Bitfinex 

thank you (just trying to keep the forum clean) 

[Nedkt]

2 hours ago, zerpdigger said:

hmmm that's interesting, but i wonder if the current trades at higher prices than on the chart are just because there are no more deposits and so people are just scrambling to pay anything before exchange launch? just like when theres low volume/liquidity on a gateway or exchange you get huge gaps in the buy/sell orders.

That's kind of what I was thinking. People scrambling to squeeze a few coins out of a now constrained supply to hopefully cash in on a big explosion out of the gate. With some luck, the initial buy-in on bitfinex will be reasonable. I also think that all the people with IOTA right now will either have some issues getting their IOTA to bitfinex to sell right away, for those wanting to.