Update: May 24, 2018 - The simplest and safest use of these Iotains is to send us your public code, for your own Iota Seed, and we will custom make some coins with that address on the back of the coin. On the front will be the Iota logo and you will be able to distribute these coins so others can send Iotas easily to your account.
This heading isn't really correct. I can't fully explain Iota, but I have done some value calculations and have some understanding of how the market affects it and what it might be good for. I'll do my best, but refer to others for more details, this is just an amatuer summary for the purposes of establishing a reasonable value for Iotains.
Iota is a technology based on Tangle vs Blockchain. Many people invest in the technology by buying Iota, which is also known as Miota for One Million Iota. So when you see the price of approximately $2.00-2.50 USD currently, this is for one Miota or one million Iota. By today's value this makes iota very scalable for future uses that may require micro-transactions that otherwise may not be calculable.
The biggest concept that makes iota a great vehicle is that it does not require as much third party mining, although I am not sure how the data will be confirmed through networks without an incentive for nodes, it supposedly will work even faster as more people use it. From what I have witnessed other networks seem to bog down and cost more when more and more people use them. If iota is truly fee-less, this will allow something like this coin I have created to actually work. I could not make a nickel coin if the transaction was going to cost me a dollar or take a long period of time.
The value of iota is established like other crypto-currencies, through market forces. Here is a good place to check the current price of iota.
My first challenge was to figure out how many iota are in one penny and using a $2.50 (positive thinking) price I calculated that 4,000 iota are in one penny. So to make a nickel I will need to put 20,000 iota on each coin in the form of a seed and a public code to mimic the value of a nickel. Since these iota are potentially added to the value of a nickel itself, that will make each iota coin worth a combined 10 cents./More to come as I find better ways to establish value and somehow compensate for my materials and labor. The hardest value to add to this is the value of TRUST. I am not going to portray that I am Fort Knox, but if I can establish a baseline of trust with a low enough value on the coins, then I may be able to overcome the other issues of trust until I have an economically viable way to secure coin-based iota transactions.
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