Qubic: What is the latest sensation on IOTA (MIOTA) all about?
Comment of the Day

May 11 2018

Commentary by Eoin Treacy

Qubic: What is the latest sensation on IOTA (MIOTA) all about?

This article by Lujan Odera for cryptoglobalist may be of interest to subscribers. Here is a section:

Are we close to seeing a fiat trading on IOTA?
Qubic offers an oracle that connects IOTA USD/EUR conversions with the rates obtained from Bloomberg.com on a smart contract. This is a unique feature seen in the blockchain industry that can allow the writing of forwards and options on cryptocurrencies which can lead to greater stability in price. The technology may not seem a big deal at the moment, but imagine a scenario whereby you could hedge your extremely volatile cryptocurrencies? This would lead to increase in adoption of the token massively as merchants and other real life users would be ready to accept crypto.

IOTA (MIOTA) trading platforms aim to benefit the most from Qubic’s development. Trading platforms on IOTA will have decentralized margin trading in a trustless and low transaction fees on its tangle. The platform allows writing of smart contracts on the system where you can readily exchange your IOTA to either EUR or USD any-time.

Eoin Treacy's view

Right now there are almost two different markets in cryptocurrencies. The first is heavily influenced by bitcoin. Many other cryptos require bitcoin as a base currency to buy them. That creates a daisy chain of contagion between the smaller tokens and bitcoin which is represented by volatile high beta performance relative to bitcoin.

Bitcoin is also being heavily influenced by the Mt.Gox liquidation which is still selling bitcoin into rallies as well as the influence of regulators taking a more active role in scrutinising markets.

The other market for cryptocurrencies is about the future. I am on the record as comparing Bitcoin to Netscape. A decade from now it will have been left behind by innovations that dispense with mining, create seamless transactions and even great security. IOTA is one of the more promising potential solutions to the myriad problems cryptocurrencies have today. That is of course if they can deliver a functional product.

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