Ok...CFB kindly adviced me to post these three legitimate points here from an user of a different thread.
"What are the major flaws of IOTA?
1. Does not work on IoT devices. Proof-of-Work is CPU and battery expensive on such micro-controllers, but due to their low-power and constrained CPUs, the Proof-of-Work that IoT devices can do is orders of magnitude less than what a normal CPU can do, which makes the PoW even less worth. Due to this problem, the second one follows
2. Has no Sybil prevention. IOTA mechanism of joining the network requires talking to humans to exchange IPs on their Slack-channel. The consensus algorithm is flawed.
3. Has infantile community leaders such as Come-from-Beyond, hostile, threatening and entitled "holier-than-you" attitude to newcomers. Also the Iota leaders have previously been involved in failed altcoin NXT."
I think, point 3 is stupid and doesnt need an answer... but point 1 and 2 would be fine...
Greetz
Steve
1. PoW of Bitcoin is indeed very expensive, PoW required to issue a transaction in IOTA needs 10'000'000'000'000-fold fewer invocations of the hashing function. "The Proof-of-Work that IoT devices can do is orders of magnitude less than what a normal CPU can do" needs further explanation because IoT devices I've seen worked at 20% of my home PC speed, it's not "orders of magnitude".
2. PoW is anti-Sybil measure. Talking to humans is required to avoid DoS attacks while the network is small, in the future it won't be needed. What flaw do you mean?
3. ESMA (European Securities and Markets Authority) dedicated 1/3 of their report to Nxt, it doesn't look as a failure to me.
