IOT = good idea*
Inefficient/expensive miner in everything = bad idea
*specifically non-21 inc related ideas. Everything I've heard from 21 inc seems like a poorly thought out solution to a nonexistent problem.
Thats funny jimmothy. I think IOT is a bad idea and micro-mining is a good idea.
IOT is a bad idea because there are significant security issues with existing software and hardware infrastructure that need fixed before we start putting more 'things' on the internet. As an illustration of this thesis, visit DARPA's Cyber Grand Challenge at
http://www.cybergrandchallenge.com where they begin by explaining:
With the coming advent of the Internet of Things, data insecurity is on track to become physical insecurity. The same code that powers today’s networked computers – code that is routinely compromised by attackers – is making its way into our vehicles, our smart homes, our augmented reality, and our connected culture. This future requires fundamentally new thinking about how networked devices will be defended.
Your opinions are contradictory.
If IOT devices are insecure, so are microminers (since they are just IOT + bloatware miners).
The IOT however isn't the backbone for a multibillion dollar transaction network, so a hack, although might cause inconveniences, is not really a big deal. On the other hand a hack of 21 inc's army of microminers could be catastrophic. I think we can all agree that a hacker is infinitely more likely to attempt a 51% attack than a company who has invested tens of millions into bitcoin/mining.
Micro-mining is a good idea because it will decentralize the network, disenfranchise big players like KNC and enfranchise people who don't currently participate.
Firstly, 21 inc's plan won't be decentralized. They've already said all the miners will be using their pool. Most likely all btc will be stored on their servers to avoid dust clogging up the blockchain.
Secondly, you keep pretending that micromining will somehow remain competitive. Rebranding home mining as "micromining" and unnecessarily adding costs/inefficiencies/gimmicks doesn't magically make it more profitable.
As an illustration of how seriously people take this thesis, you need look no further than the amount of money 21 inc. has raised and the quality of their investors.
CueCat raised $180 million from equally high profile investors/companies and the end result was "fails to solve a problem which never existed". Sounds exactly like 21 inc.