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Comment by akerro | Hacker News Reader

IOTA wallet is full of really bad bugs, just look how bad it is on first pages, the more pages you skip, the worse it is. It still doesn't work on Linux, for many users wallet crashes or shows green screen and nothing more. Doesn't work through Wine either. https://github.com/iotaledger/wallet/issues

Issues on github have no responses from developers since early November and there were no commits since than, what's surprising, there were a lot of blog posts on their domain and many subreddits how great they are (!!??)

BitFinex two week ago had problems paying out IOTAs, payouts were cancelled without any reason. Didn't try again since that time.

A lot of domains explaining how to buy IOTA look dodgy, like they were made by 14yo in '90s. There are dozens of domains like supportiota, forumiota, iotasupport.com, howtobuyiota.co.uk ? Why do they all exist and duplicate content?

Watch out out there.

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I have never seen a GitHub issues page quite like that.

Pages and pages of issues ranging from; "Somebody stole thousands of dollars from me" to "My money is stuck and I can't get it out".

I've also read that the devs have seized funds from users. Specifically, if you use the same address twice in IOTA (extremely common habit in cryptocurrency), you reveal your secret key, and the devs will take your money.

Among many other wallet related issues.

Citation for your claim? The story I've read is that the IOTA Foundation will hold your funds so you can reclaim them.

The system is clearly not decentralized, if one organization can hold your funds for "misbehavior".

The idea that they'd let you reclaim your funds is also ridiculous. Your private key was compromised, they have no way to identify you.

This is radically inaccurate. If you send from an address, trash that address and never use it again. You can receive to an address as many times as you want but once you send from it you gotta move to a new address. The desktop wallet does this automatically so no need to worry about doing it yourself.

"All tokens which will ever exist were created on day one and pre-distributed to people who signed onto the project very early." It sounds to me like they are pretty up front about their intention to take all of your money. That is how they started. Same for Bitcoin, only Bitcoin hides it behind a schedule of mining fees so it is more Ponzi scheme while this is more television priest.

> It still doesn't work on Linux

What are you talking about? I haven't used the wallet on anything but Linux, and I've had no problems.

https://github.com/iotaledger/wallet/issues/631

https://github.com/iotaledger/wallet/issues/577

https://github.com/iotaledger/wallet/issues/511

https://github.com/iotaledger/wallet/issues/416

As far as I know there are no bugs in the wallet it's just not completly self explaining. tbh from my view there are just the wrong people in the whole space... 95% of the people are here to get rich quick and not for the developement and it's excatly these people who have problems with Key reuses and so on.. the people have to do their research in such a young space..

If your software is expected to have bugs then you shouldn't allow people to put money in it. You should be setting the expectation that the chain will get regular resets while you work out the kinks. You should be discouraging exchanges at every opportunity and shouting loudly at the world not to put money in your alpha release software.

It doesn't appear that IOTA is doing any of those things.

>95% of the people are here to get rich quick and not for the developement

You're saying that application and developers came completely unprepared for the market?

No, the market was unprepared for an application that is still in alpha.

Still in alpha but accepts real-money deposits in the tens of thousands. I think the market was unprepared for anyone being that brazen.

Who is accepting deposits, and why tens of thousands? Real money is deposited into exchange accounts to buy crypto assets. No one is making fiat deposits into an IOTA organization.

You should examine your reality if you think developers of alpha software have any obligation to provide non-technical folks with a way to use it. It's open source, nothing is stopping you from building your own wallet if you want something better. But they don't owe you anything on the basis of the protocol simply existing. Ask yourself, why do you expect that?

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