Alt-News #11: Former CIO of UBS, Oliver Bussman joins IOTA / IOTA team up with BOSCH / Coinmarketcap top 400 site worldwide / CNBC Interview with John McAfee
Hey everyone! Its been a while since I've been posting about altcoin news but now seemed a better time than ever with some big adoption news coming up especially for the 8th largest cryptocurrency in marketcap; IOTA.
Oliver Bussman, the former $3 trillion money manager and head of technology at one of the largest banks in the world has recently joined the team behind IOTA. He served the Swiss-based global financial services firm UBS from 2013 to 2016. Since he left UBS he has been very involved with the world of cryptocurrencies and blockchain as the president of Crypto Valley Association since the beginning of 2017 and is the founder of an advisory firm, Bussman Advisory.
Founder of IOTA, David Sønstebø said:
We are thrilled to have one of the world's foremost financial technology thinkers and actors with such gravitas and senior experience from world leading companies join the project.
Bussmann will represent the Foundation throughout the world,
This isn't the standard advisory role, he will dedicate a significant amount of time to raising awareness about what we are doing through his massive network.
His tweet about joining:
On other IOTA News,
they are planning on opening office with Bosch in Chicago, their sensors will use IOTA for secure data protocol:
This is a great video I'd recommend users interested in this cryptocurrency to watch, The 3rd Global Blockchain Summit of 2017 in Shanghai talking about IOTA's production ready applications they want to go live with in early 2018, minute 8:25 in the video is relevant to Bosch also.
Since a lot of people seem to have difficulty to grasp the total supply of IOTA and think that the market may be way too overbought lately, I just wanted to remind you of this.
The 2,779,530,283 (that's 2.779 billion) current circulation supply are MIOTA's. Since people tend to think that 1 IOTA is the same as one Bitcoin Satoshi I want to let you know that compared to that where 1 Bitcoin is 1 hundred million Satoshis, 1 MIOTA is only 1 million IOTA's. So to compare the two a bit better in value, you'd have to take 100 MIOTA's which are valued at $56 now to bitcoin's $3750.
Coinmarketcap recently dropped under the top 400 sites used worldwide
As google trends are also spiking up in search word for "cryptocurrency", it is nice to see interest increasing overall.
Steemit.com is currently just over rank 2,000 and its safe to say that they both compliment eachother since Steem is listed on coinmarketcap on a strong #21 position. If prices of Bitcoin and the rest of currencies reach new heights soon, this could bring another big adoption boom to cryptocurrencies. We are living in truly exciting times.
I have re-recorded the interview so it can be embedded onto the platform, no adrevenue is gained from the video as ads are turned off on my youtube channel.
This news are good for IOTA specially after Four IT scientists from MIT found a a serious bug in IOTA.
The hash function from IOTA was used to hash before signing. When the MIT scientists examined the code of IOTA, they noticed that the Hash function used by IOTA can be broken by a well-known technique of differential cryptanalysis. It is possible to form so-called collisions to find two inputs which form the same output. This will remove one of the most important features of hash functions.
It was possible to produce two payments which are different, but are hacked to the same value and thus have the same signature. The MIT researchers have had the opportunity to destroy assets in the range of one to two billion dollars.
IOTA has fixed the bug directly after.
But one thing makes me thinking more why the IOTA code is not open source? IOTA developers run the trusted coordinator, which signs the last valid state of the system.
Crypto currencies are open source, decentralized and do not need trust!
Lets see how it goes with IOTA in the future I have some IOTA token and keep them on hold maybe one day it pays out good.
Thanks for all the info
ⓁⓄⓥⒺ & ⓁⒾⒼⒽⓉ for you!
Namaste
Oh wow, nice input, I hadn't heard of this before. Got any sources to it?
and yeah, that's why I usually stay away from coins like Ripple. Open-source is the way to go!
Like I said I have some IOTA and as well some Ripple but you are right it is better to stay away from coins like these open source is like you say the way to go :)
Here is a link where you can read about the bug:
https://medium.com/@neha/cryptographic-vulnerabilities-in-iota-9a6a9ddc4367
check out david sonstebe response to that article...
@cidyo i agree with you..cryptocurrencies has very good impact on the digital economy world..
the reason on this the technology is rising on respective peak..the coins has a very high value base on bitcoin reports and it will change the life of everyone..i learning until now on trading coins like steem,sbd etc...
best of luck
@mrblu
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interesting!
I heard there was no bug, IOTA told the MIT guys thats how its meant to be by design. Trinary crypto is different to binary crypto and the MIT guys didn't understand it.
Even though I'm so noob in this, but reading your post sir, makes me feel so excited and thrilled to see what more to come in crypto. We maybe a minnows but soon in the future we can be good to go also in steem. You give us good understanding about crypto and other coins. Thank you for that. :)
Maybe we will definitely see Steem rise to its highest point now .
Hope so too. :)
Hopefully :)
Great article covering 3 bullish topics. I couldn't be more happy with the way the future looks for crypto. I was looking back in my wallet today at purchased last year's of 450k bits which was 200 dollars at the time. It's really crazy to think what the value would be now just a year later. Now I have money into crypto that I'm holding and it's just so exciting to me. I appreciate the insight in your post and yet keeping it quote compact while covering 3 topics. Top post my friend!
Thank you sir @acidyo for the informative updates of cryptocurrencies. Looking forward for more updates.
Oh yes. I hope the price goes up!
IOTA is definitely one of the killing crypto projects. They are teaming with the big industry players and developing their own protocol for the project. It is just a matter of time that the currency starts ramping up.
I think so too.
I am so new to cryptocurrencies, but my husband is very into it. Now being on Steemit I try to learn a bit more, that's why posts like this are great for me to learn and you make it pretty easy to follow and understand. Thank you so much for your support. My son is crazy for soccer so he will definitely follow you, but he is still in process of signing up for Steemit.
Hope he gets his account created soon. :)
Hello Acidyo! You are right, these days ago I saw that you made a post on this coin, I thought about investing and I was scared, but I noticed today in the coinmarketcap that she gave a rise and gave one down how all the others fell, but rose again.
I know we are always in danger of investing, but is it possible for IOTA to go wrong? Or is the possibility minimal?
There are always possibilities of course, no one can predict them.
The risks are often what make the gain so much higher, that's why never invest too much and most of the time you can get out of them in time before the loss becomes too great.
Thank You! 👍
Awesome news for IOTA...cheers for the update mate