When comparing Bitcoin vs IOTA, the Slant community recommends IOTA for most people. In the question“What are the best cryptocurrencies?” IOTA is ranked 10th while Bitcoin is ranked 15th. The most important reason people chose IOTA is:
Anonymous Transactions and messaging is on the roadmap!
Ranked in these QuestionsQuestion Ranking
Pros
Pro Biggest market capitalization
Pro Most widely accepted cryptocurrency by merchants
Pro Anonymity - Coming Soon
Anonymous Transactions and messaging is on the roadmap!
Pro Fully Decentralized
Cons
Con Takes a long time for transaction to confirm
It takes on average 10 minutes for a block to be added to the blockchain. You may want to wait for multiple blocks to be added to the blockchain to be sure that there's no tampering happening with the blockchain. The usual recommendation for larger transactions is to wait for 6 blocks before confirming the transaction which comes down to an hour on average.
Con Mining is expensive
Con Big whales manipulating price
Con Overpriced
Con Volatile
Con Toxicity
Con Terrible for the environment
Bitcoin wastes enormous amounts of energy on each transaction
Con Centralized
IOTA is currently partially centralized due to its "coordinator" which is expected to be soon removed.
Con Unproven consensus mechanism
The new consensus mechanism is unproven against attack. Mana can be rented.
Con Not as Secure
It is arguably not as secure as other cryptocurrencies like NANO.