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What is IOTA in a Nutshell

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Full Writeup - http://boxmining.com/what-is-iota-in-a-nutshell 0:48 Iota Key Features 1:41 Iota Uses Tangle, Not Blockchain 1:45 Easiest way to understand Tangle 4:43 Internet of Things! (IoT) 6:14 Iota = Skynet? 7:33 Quantum Proof 8:23 Supply of Iota 8:39 Miota VS iota Trade Iota Binance: https://www.binance.com/?ref=10192887 💪Donations: Bitcoin : 13EvsPm3YhiCPGksQQdvQUFtsbF8FoU6Cz Ethereum: https://etherscan.io/address/0x58d98516363D2A5f93CE6aB4A4a909599C3EEC3a DASH: XcAREQEEunvv6rJza9LKDzdyjZ1BwBN2iK Litecoin: LXeXUr2Hr3ePgHb9aDjr4QdqA4DPXoTarU NEM: ND6WRNN2W2AZLON65EGI3Y46M4TWP3HNKSB4BGW2 Decred: DsgsSqYF2oSZ5MJeoqiEMyeJdWhdvWk8A4s Exchanges: CoinBase: https://www.coinbase.com/join/590c3a1c8bfa31012ffacf87 Poloniex: https://poloniex.com Wallets: Windows: http://exodus.io USB wallet: https://www.ledgerwallet.com/r/428b ♨️Social: http://boxmining.com Steemit: https://steemit.com/@boxmining Twitter: https://twitter.com/boxmining Facebook: https://www.facebook.com/boxmining
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Text Comments (790)
belle1113 (1 day ago)
LEDU COIN will be dominating in the near future!
CRYPTO 420 (9 days ago)
gajer alvarez (26 days ago)
dear dev! please analyze Etheal for us Im thinking about investing, if an expert would confirm it
Tamas Jojart (27 days ago)
So the teacher gave his job to his students is not smart. It's a stupid bad and lazy teacher. The students will agree to give each other the best mark. A network need assurance too and how can it have it without proof? Machines having zero transaction fees won't have their own funds. So they could have the AI, the free transaction available but they can't pay for anything still without a human allowing them access and permission.
Josh Smalls (1 month ago)
You forgot to mention the fact that it's not decentralized (even 11 mo later)
Fabian Diemel (1 month ago)
The thing you talk about at 7:00 is actually freaking me out. If we take a look at how Artificial Intelligence and how its developing and IOTA just perfectly fits into how machines can interact and trade with each other, this could be another step on the way of the domination of machines
Remi Car (1 month ago)
Please somebody explain me i am new at this and already i have some issues...So..i was buying IOTA i buy at lowest point than i sell it above of middle band and the problem is when i sell it they give me a smaller amount of BTC value than i was buying it..i buy it with 27 us dollars in BTC value and when i sell it they give me 25 us dollars in BTC value why is that happened please explain me??? and i must say again i sell IOTA for bigger amount??
Tom Kory (1 month ago)
IOTA year 2019? For 10 Dalars? :)
Jason Fan Club (1 month ago)
Do you think it makes sense to buy IOTA and DAC now? There are not many use cases yet and the currencies can have an inflation because more coins can be produced. So this means the value won't increase a lot, right?
F-150 (1 month ago)
Any update on IOTA? Any timeline news or new personal feelings about IOTA? Thanks!
John HG (2 months ago)
Iota is gay, bitcoin is the future
Tuxnor (3 months ago)
My coffee maker runs open source and is connected to my server .. Linux..
Shawn Barnes (3 months ago)
Think about "johnny cab" a robotic cab service
Patricia Henry (3 months ago)
Interesting. Thanks for explaining IOTA to me the average person. :)
juuu juuu (3 months ago)
This guy know what he is talking about. What do you think INT? There is a huge potential vs IOTA atm.
Anthony Meno (4 months ago)
Buy IOTA here www.binance.com/?ref=12205709
Nikhil Prajapati (4 months ago)
Can IOTA be Used in running a virtual transaction system between Al? making an assumption, like JARVIS Controlled house of IRON MAN, can it be the currency to advanced structures or facilities , where an AI runs an entire facility using various machines and these various machine works just like employed workers in a facility ?
horn leo (4 months ago)
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Jr Beans (4 months ago)
IOTA has proven to be a scam.
Neetesh Biswas (4 months ago)
OMG....in this video, Bitcoin was at 2529.73!!!
Kiyo (4 months ago)
Really great explanation. I finally understood how tangle works after watching your video.
Relio (4 months ago)
No1 can actually explain what problems IOTA is trying to solve. Not even their team, lol
Sobieski526 (4 months ago)
It's a cool concept but robotics/automation is not there yet for mass adoption and so is quantum computing. The practical use for IOTA would be not machines buying stuff but digital systems (things/apps/services etc) exchanging data and resources between each other and being paid for it. My question is: with both core technologies of IOTA - IoT & quantum computing in their embryonic development stage, what is the practical use of the token today? Bonus question: how can it be developed and tested with no core technologies in place?
L Rodriguez (4 months ago)
Hello Boxmining, how do you feelabout IOTA now in 2018?
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Boiling Point Mechanical (4 months ago)
here comes judgment day
CryptOG (4 months ago)
save urself 9mins and just watch this vid explaining iota in 2 mins.. https://www.youtube.com/watch?v=ivWqqfzunhI
EL Moninho (4 months ago)
Hey guys, i'm a poor student from spain with no money. I want to start investing in iota because i think it will have a bright future, but i have no money. I will be so grateful for every iota you helpful guys will send me!! :) Thanks in advance guys!! :) JZYYVFPBGFVWKRQXEPRXTJNAGIZFSAZKDKBYRZZLRDDVQYPEADWCMLFPHLZDOEGSVASS9AMWYICBURQFCRZUKXB9KB
Chris C (4 months ago)
If transactions on IOTA Tangle are free how will they make money?? Additionally, if there are 2 QUADRILLION tokens (and there are, that's why they trade as MIOTA "millions") how much can a token be worth? Further, what utility does their coin have if not to pay for transactions on their FREE Tangle Network???? These are valid questions I cannot seem to find answers to???
Rin Inori (4 months ago)
Isaac Newton was certain The Bible, indeed the whole Universe, was a 'cryptogram set by The Almighty'. Newton was still searching for The Bible code when he died. One discovery that had eluded Newton was made recently by Eliyahu Rips because he had the one essential tool that Newton lacked - a computer. The hidden text of The Bible was encoded with a kind of time-lock*. Some of the text, which was encoded using a numerical code, could not be opened until the computer had been invented....
Lulu XYZ (5 months ago)
please explain. if one buys few iota coins does it mean this person needs to get involve in verification process?
FabulousFelix (5 months ago)
I would reccomend you to buy IOTA on Binance. It's very convenient and there is no minimum deposit like on Bitfinex :)
D V (4 months ago)
What's difference between coinbase and binance?
FabulousFelix (4 months ago)
IMO yes. But its just an opinion:) the Tangle is the most advanced distributed ledger until now..
D V (4 months ago)
Thanks for the information..do you think that IOTA can beat btc eth?
FabulousFelix (4 months ago)
Yes, you can either use BTC or ETH to get IOTA. There are several brokers/platforms to get them from like the most famous one "Coinbase.com"!
Zen-activités (5 months ago)
Is it the only one with no block chain ?
jewerly design group (5 months ago)
NEOGOLD IS BACK. You have been warned the time is now.
IAmDone US (5 months ago)
You cannot brute force sha256 ... it has been said it would take a billion trillion years to brute force sha256 and quantum computing may allow to to brute force the encryption in 3 trillion years. Nothing to worry about.
Boxmining (5 months ago)
people always panic lol
Kryptonite (5 months ago)
fuck the FUD. it may be a super long-term hold, but iota has a big head start
Mida Multitool (5 months ago)
I wonder if someone rich will send me some Ether..... 0x9c13a43e397e77b27b319131302ad6302053f5ff
Maikito G (5 months ago)
HAMALO (5 months ago)
Ok no fees, machine can trade ok but i want that if something happen i want to let it check out authority and get me my money back. With this crypto am not fan of them. Still a big risk
AB (5 months ago)
You're a nice guy, but really, talking about machines killing you is a bit much. Stick to the subject
Khalid Hakimi (5 months ago)
What really made me out of iota is when you said computers pay computers to do their work. So which computer is smarter? Because all are the same... so thats the reason im out.
Indy700000 (5 months ago)
XRB will kill IOTA tho
DasCrypto Moley (5 months ago)
You got to b an IDIOTA to buy this when TRON is a Mars shot right now...just saying.
Kylo Bosh (5 months ago)
Very interesting
Mohamed Sami (5 months ago)
i crypto that cant be mined mean its not controlled by PEOPLE, stay away from that type of currency as its another EVIL company control on it
James Frushon (5 months ago)
Now $4...!
Squidward (5 months ago)
I'm buying
Sophaine Von (5 months ago)
Michael, do you mean the buyers will not benefit from the small amount of IOTAs? Does it purely because of total amounts they release ?
Nate (5 months ago)
with all the network, wouldnt the traffic be congested? imagine billions of iota being verified rushing into my computer? what if my IOTA has been idling in my wallet for years ?
Sifar Patel (5 months ago)
How to Trade/Convert Status to Bitcoin ? Thanks
EarnedMyResp3ct (5 months ago)
So why can't you just send the coin back and forth between two accounts?
Vladiator (5 months ago)
awesome new sub. looking forward for more videos to learn from you. :)
Quỳnh Tô Huy (5 months ago)
2.7 million billion IOTA mean if each IOTA transaction has value of only one USD cent, the value of the whole ecosystem is 27000 billion USD, maybe equal the entire US economy 10 years from now. Does the number means to be ready as payment system for IoT world. Maybe 1/100th that number is enough
DivineElementsOne (5 months ago)
I am excited about the tech that IOTA is about. The Machine2Machine Economy is real. Tangle is real.
Chew Chew Train (5 months ago)
Good summary!
D H (5 months ago)
Thank you. That was a helpful summary.
thanks for the info
James Wafer (5 months ago)
did not expect IOTA to fly so quickly but I really wanted to invest. Had real-world financial problems that put me off investing. it went to $5 overnight.
Vilisi Saqasaqa (5 months ago)
so are you saying atm IOTA (MIOTA) is going for $3.50 if i bought $350 worth i would have 100 0r a million per $3.50 buy? (bit confused at the last comment sorry)
Jade Rebel (5 months ago)
Scary but cool!
David Howard (5 months ago)
Update on this paid puppet promoting IOTA. Their entire system went down for 3 days and has massive security issues. https://www.media.mit.edu/posts/iota-response/
C White (5 months ago)
In a way, you still pay a fee. Just in computer GPU work instead of gas..
Ramesh Jain (5 months ago)
Pictures ke saath step by step guide - IOTA kaise khareedein - https://medium.com/@ajaybirbal94/how-to-buy-cryptocurrencies-not-available-india-with-ether-easily-7f0905cf102dv
Amir Brand (5 months ago)
ok. when you say you need to buy 1 million IOTAs. It means you need at least $1 mill dollars at least to start investing. LOL
Crypto Berh (5 months ago)
Iota gunna moon any month now.
Playonmob (5 months ago)
there are so many alt coins that appear from nowhere . I don't like coins that you could not mine ,they are scamy for me
Friar Steve (5 months ago)
Lol. You are blowing my mind
NateDoesRox (5 months ago)
I hope y'all bought at that $0.50 a piece, haha.
Jethro Cao (5 months ago)
How does new IOTA get generated if it does not need to be mined? Or is it still mined? Just not done via the normal hash puzzle solving procedure of blockchains?
James Lucas (5 months ago)
Takes 11 min to explain a nutshell? That's nutty. Edit: I guess this is a nutshell. Everyone else is explaining it is longer.
Steven K (5 months ago)
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Tom Roy (5 months ago)
Seems great on paper, but their website is a joke, there is a clunky and seemingly unreliable wallet & the coins are mostly stuck in exchanges with no ability to send. There are no answers to any questions and poor overall communication from the IOTA team. I'm regretting have bought any, seems to good to be true...
Luis garcia (5 months ago)
I thought this was timothy de la ghetto
Hesham Abdelghany (5 months ago)
Are there smart contracts concept built around tangle?
pen0rprick (5 months ago)
How can something be quantum computing proof when no one even knows what that means.
Joey Bekhuis (5 months ago)
someone here kind enough to help my family during this hard time. we appreciate it so much..... 1NVAae2drvGvPP7WAzAda5piwnq6EjEBAG btc will pray for your wealth and health.
Spooky (5 months ago)
Joey Bekhuis fuck off hobo
Infected exe (5 months ago)
So it's the new Bitcoin killer until we end up with Bitcoin IOT, a fork of Bitcoin which distributes tokens/coins in a better way? Sure it's interesting with IOT but I don't really see the need for machine paying another machine. A machine could already be programmed to send Bitcoin to another machine. And a machine only needs to communicate with another machine it doesn't really need to send payments. With lightning we get close to 0 fees but with alot of security behind it as well. Someone will probably find a major flaw with IOTA. For example why would I not correct my friends tx in such a way that he benefits from it in some way? Maybe you would correct tx in a bad manner to reduce circulation of coins. Well there is many potential flaws to be found. We find out new stuff about Bitcoin still, Asic-boost was not that long ago, a way to game the system. Now imagine this confusing system without a blockchain? Ethereum's smart contracts are only as smart as they are written. Most people don't even understand these smart contracts. Even Vitalik Buterin fell for the smart contract (DAO). I have nothing against IOTA, I feel like it's very interesting indeed. So please try and convince me over. Edit: Great video Michael, I would like to hear more from you on this topic! What I dislike the most is that it's insta mined (idk how to explain it better).
Ido Raz (5 months ago)
Love the analogy but the problem with friends checking test (transactions) is that they can cheat :)
B. Alvn (5 months ago)
You are a good explainer...you must be an elementary school teacher, huh? Good job, because I feel like a little kid thinking about all these crypto-thingamajigs! :-D
Simply Johny (5 months ago)
Every single time I watch this guy talk, I doze off to sleep. Zzzzzzzz
Todd Starbuck (5 months ago)
Do you want Skynet? Because that's how you get Skynet!
sammich (5 months ago)
8:58 Looking at the chart makes me depressed/angry at myself for not knowing about crypto earlier. All of those are worth a lot more now. Bitcoin was $2529, now it's $17k. Litecoin was $29, now it's $330. dash was $164, now it's $1360. I would've been a multi-millionaire.
Blake Johnson (5 months ago)
This is Skynet. We're all thinking it.
wayne gordon (5 months ago)
Iota 5 bucks today/ u must be a millionaire now hire a body guard.
Stevo Devo (6 months ago)
The light bulb might pay the vacume cleaner to suck you off.
Gül Tanesi (6 months ago)
I would really appreciate if you would donate,and even though you probably won't, I just wanted to let everybody know that you'll feel good after donating, 0.1 BTC: 1BWgpWYnt3VSY1JPc2wjtYKQrjM8cBtj7M
stephane castel (6 months ago)
IOtA on the IoT will releave all works/services from people.. It could be great.. It could be the freedom of mankind.. You could do whatever you want to do.. You wouldn't even need any currency.. You are scared about the AI's not the Iota itself..
Ronan Marvel (6 months ago)
Is now 5$ :)
Karandeep Malik (6 months ago)
Technically he is an idiot
David Mutch (6 months ago)
I thought the same thing with regards to the Terminator. Ha ha I'm not sure why a computer would consider a piece of software valuable like people do with useless stuff (for example diamonds, almost completely useless) but because of feelings people want them and assign value to them. Computers don't have this "flaw" so I'm not sure how transferring useless data would be of value other than a way to control humans which assign an emotion to useless stuff. Anyhoo, I thought it was amusing you thought the same Terminator like scenario could occur. Thx for the insight and analogies!
Mandy Pande (6 months ago)
Please refer to my blog- How to buy iota in less than 10 mins: https://www.reddit.com/user/mpix12/comments/7ktmw0/how_to_buy_iota_miota_less_than_10_mins/
Mikac000 (6 months ago)
LOL wtf is quantum proof when well be only expecting quants hacking crypto keys in 20 - 30 years ...
RIPxBlackHawk (6 months ago)
If they verify each other they could verify fraudulent movement knowingly or unknowingly. They could he tricked because the whole system doesn't communicate. In your example it would go like this: The students grade each other much better then they should be. They can do this just enough to be better but not enough to raise suspicion. They could each just grade themselves one grade better then they are. The grade would get written down and stored forever. So next time the teacher let's the students decided each others grade they can all give each other a better grade then they have given last time because it wouldn't raise suspicion because if the teacher were to check the books he would discover the students have only improved by one grade. If the students do this again eventually some students will have much better grades then they should have. The only way to resolve this issue is by having the teacher check all homework and see if the students gave each other the correct grading. In total this would take more time then having the teacher check from the start.
Fable93 (6 months ago)
It's a fraud
Fable93 (6 months ago)
just use it yourself it doesn't work lol, its not compatable with any hardware
DeadSpaceFreakZ (6 months ago)
Explain how please.
sara druid (6 months ago)
Mydealer like please =D Xiaomi Yeelight + Vacuum X D
Andy Peterson (6 months ago)
What about generation 4 through infinity ? Maybe bitcoin will win because it was first
ATM Yousuf (6 months ago)
A great flat form to by all those coins https://www.binance.com/?ref=13231079
ATM Yousuf (6 months ago)
A great flat form to by all those coins https://www.binance.com/?ref=13231079
Cartooniverse (6 months ago)
I mean whatever man, I'll throw in $100 and see where it goes. I don't want another Bitcoin leaving me in the dust. Besides, I was gonna buy booze with that anyway.
Crypto Geckos (6 months ago)
https://www.youtube.com/watch?v=XkyQV1NZFo0 I've started a YT channel with brief, daily, precise overview of crypto-related info. Please let me know how do you like the idea itself, my performance. Feedback so much needed. Will people need it?

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