Why I find IOTA alarming
I feel like I&#x27;m missing one side of the story. I don&#x27;t know much about IOTA but from what I learned reading articles linked on HN today IOTA:<p>- Uses custom &quot;ternary&quot; crypto which has been shown to have vulnerabilities in the past.<p>- Has software that doesn&#x27;t include the basic function of generating wallet addresses, instead having some users rely on shady 3rd party websites and getting their coins stolen.<p>- Does away with much of what made other cryptocurrencies like Bitcoin work in the first place in order to remove transaction limitations.<p>- Except that the changes required to make this work, at least in theory, are for the most part not actually implemented yet and there appears to be a lot of doubts that it can work at all. See for instance this comment on the article: <a href="https:&#x2F;&#x2F;medium.com&#x2F;@comefrombeyond&#x2F;thank-you-269640e794e7" rel="nofollow">https:&#x2F;&#x2F;medium.com&#x2F;@comefrombeyond&#x2F;thank-you-269640e794e7</a> (&quot;in the future&quot;, &quot;temporarily&quot;, &quot;will be using&quot;,...). Also note that many replies in this comment actually deflect the original criticism without actually addressing it. I don&#x27;t even understand what that person means by &quot;You describe the internet&quot;, and how that has anything to do with the argument of TFA.<p>So basically you have a highly experimental technology (even by cryptocurrency standards) which is very much unproven (even by cryptocurrency standards) and yet apparently it has a market cap of $6 billions: <a href="https:&#x2F;&#x2F;coinmarketcap.com&#x2F;currencies&#x2F;iota&#x2F;" rel="nofollow">https:&#x2F;&#x2F;coinmarketcap.com&#x2F;currencies&#x2F;iota&#x2F;</a><p>So what&#x27;s the other side of the story? Can a IOTA enthusiast explain what&#x27;s missing from this picture?