@arthuradamson - technically the banks did think of a digital currency first (at least their centralized versions such as bitgold). The problem was that they couldn't solve the problem of the double spend. Satoshi did that by linking encumbrances using SHA256 to generate a network effect for confirmations. In the process the middleman became obsolete.
How do you invest in IOTA? I saw the white paper on the site but it looks like it's and ICO at this point. I was looking into something similar with EOS, but the USA has restrictions causing EOS to require a VPN...
Yes you are right. I can just about remember about that bitgold. I wa not so interested in the economy in those days but yes you are quite right. And of course that is what lead to Satoshi working on the double spend problem. Great point : )
I looked at EOS as well, and as much as I like the guy who is behind them my gut instinct is for IOTA.
I honestly feel Governments will come to like IOTA due to its relationship with the future autonomous car industry´s future. The will see it as "not losing face". Politicians are egotistical creatures and will now wish to concede to bitcoin.
IOTA is the only crypo token that does NOT have transaction fees and there are no miners. It is the "sending" of the coin that is actually the mining of the coin thus cutting out the middle man (miners) Miners can in some sense manipulate and control when and how much it will cost you to send a coin. This cant happen with IOTA.
You can buy IOTA in Bitfinex. I think it will hold steady for a while. It might go down a little while Bitcoin is going through this next fork but then it will rise again. I think it will have a bit of a boom in the spring and summer of next year. If it goes down more still I will buy even more.
Great feedback @zoidsoft : )
@arthuradamson Do you need a VPN to use Bitfinex from the US? Is it more a case of you should use one rather than you need one?
Ah yes perhaps you are right. I forgot the US are spying on its citizens and the banks are quaking in their pants over Bitcoin. I live in Norway, freedom is perhaps more respected here I dont know.
I can not give you an answer about that just now but I will do some research on it as it is a good question and one that the answer should be shared if it has not been already. I know one or two clever tech guys on here whom I can check with.
I would not worry too much as yet. I have a feeling Poloniex will also have IOTA quit soon. In the mean time IOTA will down down in price while the Bitcoin fork is coming. Traders dump their altcoins to ride the Bitcoin train and then they buy back their alt coins while they are cheap and then the price goes back up again.