How IOT can influence bitcoin price?

[expert4knowledge]

Internet of things is a new era in computer which is increasing its popularity and application among industry and life. There is an increasing discussion that bitcoin can improve IOT from different aspects such as improve protecting privacy, and reliability concerns in the Internet-of-Things. I want to know what others think about this?

[eternalgloom]

You could have added some sources for your claims, but I've looked into it and indeed, there seem to be some possible future applications for Bitcoin regarding IOT.

Here are a couple of articles:
http://www.coindesk.com/bitfury-bitcoin-mining-internet-of-things/
https://postscapes.com/blockchains-and-the-internet-of-things/

[neochiny]

Internet of things is a new era in computer which is increasing its popularity and application among industry and life. There is an increasing discussion that bitcoin can improve IOT from different aspects such as improve protecting privacy, and reliability concerns in the Internet-of-Things. I want to know what others think about this?

According to this:

 The Internet of Things (IoT) refers to the ever-growing network of physical objects that feature an IP address for internet connectivity, and the communication that occurs between these objects and other Internet-enabled devices and systems.


Therefore, with the continued growth of devices that can connect to the internet, it will certainly help the spread of btc which in turn will definitely pull up the price due to the demand.





It would certainly help with the ease of handling btc.

http://www.webopedia.com/TERM/I/internet_of_things.html

[expert4knowledge]

According to this:

 The Internet of Things (IoT) refers to the ever-growing network of physical objects that feature an IP address for internet connectivity, and the communication that occurs between these objects and other Internet-enabled devices and systems.

Therefore, with the continued growth of devices that can connect to the internet, it will certainly help the spread of btc which in turn will definitely pull up the price due to the demand.

It would certainly help with the ease of handling btc.

http://www.webopedia.com/TERM/I/internet_of_things.html

Thanks for that image, this suggests an exponential growth of devices which use IOT. Can IOT and they lead to another decentralized system similar to bitcoin? Although Lots of connected devices, can be a very good opportunity for bitcoin if some similar currency system does not develop.

You could have added some sources for your claims, but I've looked into it and indeed, there seem to be some possible future applications for Bitcoin regarding IOT.

Here are a couple of articles:
http://www.coindesk.com/bitfury-bitcoin-mining-internet-of-things/
https://postscapes.com/blockchains-and-the-internet-of-things/

Thanks for the sources, I already saw the second one.

[neochiny]

Thanks for that image, this suggests an exponential growth of devices which use IOT. Can IOT and they lead to another decentralized system similar to bitcoin? Although Lots of connected devices, can be a very good opportunity for bitcoin if some similar currency system does not develop.

Certainly, a competing system will most likely develop due to expected growth of IOT, btc still has the lead unless said system overcomes this first:

    Poor mobile platform support:

   "Since 2013, Apple has taken a proactive stance towards making sure that users cannot send bitcoin via wallets in its
       App Store.  Furthermore, Google does not allow in-app payments with bitcoin."

     "These larger technology companies do not want to compete with bitcoin. So they do the same thing as restrictive governments and
        use their power to regulate it out of existence – within their ecosystem, anyway."
     "Bitcoin is excellent as a method of remote payment. It could be a competitive credit card alternative – especially in remote
        transactions with mobile or wearable devices. And this is a much better way to receive and send payments instead of using
        of QR codes."

     "Using Bluetooth Low Energy, Near field communication (NFC) or some other wireless technology could change the way people make
         payments."

"However, with billions of dollars relying on the outcome, the major players in the technology industry will do their best to restrict innovations that they do not control."



> Let's hope they don't get to this first.


http://www.coindesk.com/five-biggest-threats-facing-bitcoin/

[expert4knowledge]

Thanks for that image, this suggests an exponential growth of devices which use IOT. Can IOT and they lead to another decentralized system similar to bitcoin? Although Lots of connected devices, can be a very good opportunity for bitcoin if some similar currency system does not develop.

Certainly, a competing system will most likely develop due to expected growth of IOT, btc still has the lead unless said system overcomes this first:

    Poor mobile platform support:

   "Since 2013, Apple has taken a proactive stance towards making sure that users cannot send bitcoin via wallets in its
       App Store.  Furthermore, Google does not allow in-app payments with bitcoin."

     "These larger technology companies do not want to compete with bitcoin. So they do the same thing as restrictive governments and
        use their power to regulate it out of existence – within their ecosystem, anyway."
     "Bitcoin is excellent as a method of remote payment. It could be a competitive credit card alternative – especially in remote
        transactions with mobile or wearable devices. And this is a much better way to receive and send payments instead of using
        of QR codes."

     "Using Bluetooth Low Energy, Near field communication (NFC) or some other wireless technology could change the way people make
         payments."

"However, with billions of dollars relying on the outcome, the major players in the technology industry will do their best to restrict innovations that they do not control."



> Let's hope they don't get to this first.


http://www.coindesk.com/five-biggest-threats-facing-bitcoin/

Thanks for mentioning those threats, however I think IOT can be more unrestricted because of it nature of connecting many devices, the big risk can be while all companies create a unique technology.