I am in a Wolf-Of-Wallstreet state of mind today. Primarily because I have realized IOTA (MIOTA) is the only truly decentralized cryptocurrency and ecosystem. I am even thumping my chest in a manner similar to that scene where Mathew McConaughey and Leonardo Dicaprio first have lunch. I am humming the money song! And on my mind, is IOTA. I am very much excited about the coin and its revolutionary Tangle Technology! Excuse me as I thump my chest again! You can join me if you can!
Back to the topic at hand.
Why is IOTA (MIOTA) the only truly decentralized coin and ecosystem?
Firstly, I just realized that all coins ever created, are actually in circulation. Yes. The whole mother load of IOTA coins is out there and in circulation. There is no coin in escrow or waiting to be mined. The total number of MIOTA coins are 2,779,530,283 and the circulating supply is 2,779,530,283.
With no mining needed for IOTA and no one individual hoarding the coins or keeping them in escrow, IOTA lives up to Satoshi Nakamoto’s dream of a decentralized cryptocurrency ecosystem. Are you thumping your chest now and humming the money song?
WE, the users now control the IOTA (MIOTA) market. WE decide the price. This means that for the price to go up, WE have to create demand.
And how do we create demand? By plugging each Tangle compatible device to the Internet of Things. Yes. Connect everything and let the tangle advertise itself. We were wrong in assuming that the IOTA Team are solely responsible for the price of the coin. No. It is us. You and I. Nobody else. The power is in our hands. Keep humming the money song with me.
Also to note is that transactions on the IOTA network are absolutely free. No payment fees to verify transactions. This is pure decentralization and evidence of a solid network.
The second reason why IOTA (MIOTA) is the first truly decentralized coin is the proof of concept evident in the Tangle network. Any electronic device with an electrical pulse and connection to the Tangle, can operate as a node completely autonomous from any other device.
This is why the Tangle is the best solution for the metropolitan city of Tokyo. The city has an initiative to be the first truly connected city where all devices and processes running the city, will communicate with each other. If the IOTA team – currently in Tokyo for a blockchain business camp – can be able to pitch this idea to the officials from Tokyo, then it will be grand good day for IOTA and Tokyo. We will have another reason to thump our chests and sing the money song.
This same Tangle is rumored to be why automobile makers such as Daimler, want in on IOTA. The main target for using IOTA is to have autonomous vehicles on the streets communicating with each other. What better way to guarantee autonomy than to have the Tangle network to facilitate communication between the vehicles, traffic lights and even Global Positioning Systems.
In summary, I am in a Wolf-of-Wallstreet state of mind. I am humming and singing the money song for I believe IOTA (MIOTA) is the only true decentralized coin and nework.