Why I gave up on IOTA… (My Contrarian View)

I used to be IOTA’s number 1 fan. But over the years after many metaphorical paper cuts, I finally gave up and decided to sell all of my IOTA for Bitcoin/Ethereum. In this video I want to share with you why I gave up on IOTA, my specific criticisms and negatives, and also share my evaluation framework for how I judge cryptocurrencies in general. If you are curious about IOTA, or currently and investor, this video is for YOU! Just give it a watch and let me know in the comments below what you think!

Timestamps:
0:00 Intro
1:10 My IOTA experience
2:17 Broken Promises
4:35 Blockchains of Ready Player One
5:14 Broken Promises pt 2
8:05 Misleading Hype
9:39 Immature Founders
11:06 Bad Decisions
13:19 My Crypto Evaluation Framework

#IOTA #Cryptocurrency #Review #MIOTA #Critique

[Coinsider]

Fair or not fair? Let me know down in the COMMENTS below!!

[dominikschiener]

Would love to come on your show and have an honest and open conversation about our past mistakes, and the exciting path we are on right now to fully decentralize IOTA and introduce digital assets and smart contracts.

Let me know!

[Rakhnanti]

So you're determined to share your doubts on the project, but when the ceo sends an invite your 'pipelines are packed'?

[ricardoneves]

Ok. You definitely are still in 2018. Nothing of what iota is today is resume on this video.
Now my turn:
OMG standardization
Chrysalis
Coordicide
Feeless
Scalable
Fast transactions
Fast data transactions
Big brands start using iota protocol

I hope you won't delete this video until the end of this year so we can see that we need first search for recent info of projects before talking.
EDIT: Yes IF did mistakes, yes they are now in the correct path.

[Wilkinsonhome]

I'm grateful I have had patience and diamond hands. Still holding IOTA strong since early 2018. HODL on.

[Thesakeable]

Thanks for your analysis - I can only say one thing: good things come to those who wait...
I was mad at the IF in 2017, I was mad in 2018, I have never been as confident in 2021. Loved to see CFB and Sonstebo go and the IF do a full 180. In my eyes you got impatient and left too early. Any ambitious project needs mistakes and Jesus, this is a young project.

[flattail]

This is an excellent description of everything that has been wrong with IOTA, and selling is a rational decision given the framework you described. On the other hand, these are exactly the criticisms that IOTA Foundation has been addressing, and the project is stronger than ever, with a much clearer vision and timeline. With less than 3 weeks until Chrysalis, it seems to me you sold at the worst possible time. Even if I no longer believed in IOTA, I would definitely hold for at least the month of April, as I anticipate some good gains. Since I do believe in IOTA I will definitely hold throughout the year to see what new innovations and partnerships we come up with. Very strange timing to resurrect all the old problems. . . I have to wonder if you are being paid to make a video on this specific subject.

[thewinesciencecommentary]

I agree with a lot of things you said (broken promises e.g.), we all felt that way when things were just laid off from one day to another. Lots of broken promises and delays. But now it seems that the project really has a clear path and direction. The founders are super honest and admitting what happened in the past was not acceptable! We are now on a path to standardization and fully decentralization. Two of the cofounders left (luckily) the IF. Lets see what happens from now on. Like I said, I really understand what you went through and how you feel about the project. True hoddlers will be rewarded over the next years in my opinion! Feeless DLTs are the way to go!!! Lets hope for the best!

[mouzurX]

You haven't done any research on developments in the last 2 years? Please take a look in discord on current development.

[rasputincry]

IOTA will rise up like a phoenix 🔥

And i need only tow words Project Alvarium✌️

[philippetoto]

Funny, I see the coordinator as a valuable insurance policy for my investment until the technology matures completely. Not sure if too many cryptocurrencies provide the same protection...

[aallii]

Haha dude you got an invitation by the ceo if you have time for a” I give up on iota”, you should also consider having a small part at the AMA with Dom ;)

[stevencrawford]

Ooof. A year ago (April 7 2020) it was worth $0.16, now $1.68, roughly 1, 000% increase. Even bitcoin had only gone up around 200%. IOTA HODLers got those Diamond hands

[brandonrivera]

As someone who's holding iota, I can agree with you completely

[thisismyalias]

Oof I guess the timing couldn't be any worse (not saying that your'e wrong in any way, it's just that IOTA changed a lot). You should have a talk with Dominik Schiener or Hans Moog, I'm sure you'd reconsider.

[capella]

Thanks for the critique videos.... Appreciate it

[beefmcbutchface]

Good for you that you sold, but why didn't you post a vid about it then instead of 3 or 4 months later?

[spiritbender]

Okay. I am not IOTA or this Youtuber supporter, but the entire Youtube is filled with people admiring crypto, talking about future plans, roadmaps, listings etc. How price can double, triple, quadruple in 2021. And nobody describing the real disappointed. I HAVENT SEEN EVEN A SINGLE CRITICISM. not even once. Real stories of people hodling crypto and token - with nothing good coming out of it. And they willing to share their experience with others to warn people stay out of some projects.... This is the first time since I'm in crypto I see somebody actually sharing real experience. Experience is subjective right. He might be wrong, he might be right. But the fact of Sharing it with others is important.
So Pat on the back. Good job 👍

[Goxilla]

The shutdown of the coordinator was made to prevent further attacks and protect the remaining wallets which haven´t been attacked yet. And it worked. Removing those childish founders from the board was actually a very mature step in the right direction. It displayed that no individual is bigger than the foundation. And I want to point out that barely any project is decentralized at this point.

[MrCoffis]

All valid points. I also agree on all of them. Hopefully we can reassess those points sometime down the road and change the picture of IOTA.
For me the vision is the only thing that kept me Holding on. Time will tell.