What I notice here is not using the blockchain technology as a technology to achieve the objectives, but rather using the blockchain to do some things, but always sending BTC/Satoshi to a central point(s) and from their other doco that central point is them.
So we have a new system that is designed to channel money to them no matter what you do.
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devices are hard coded to their specifications, unlikely to be upgradable to prevent others hacking the devices to direct the profit to others instead. (easy to do, program stored in ROM not flash)
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(micro)mining 75% to them
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Every time a device authenticates one(/more?) Satoshi to them. The world of IoT is taking off as we speak, I am buying some $9 computers that are similar in power to the Pi running Linux. Its more than reasonable to expect that the average home will explode in devices that need authentication. (temp sensors for A/C is an example) B/Millions of devices authenticating regularly around the world,
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micropayments - multiple paths to them (1) 3 times what you paid already went to them (2) when you micropay someone else the fees for validating the transaction will invariably go to them. Imagine the fees from billions of transactions a month.
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By reaching out to the developing world they increase this revenue stream.
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Privacy is non-existent as everyone will have to register their wallet address with them and I expect they will collect a measure of personal information when you do.
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Others will attempt to monetise what you currently reasonably do for free. EG just connecting to some websites will cost.
Basically they are not doing this to progress the world of bit coin, but rather they want to be the first and are setting up to corner the market, by doing all the mining, receiving 75% of your mining. Will it even be profitable to the user after all the energy and increase in cost of buying the enabled devices. Of course the people putting in the chips will recover their costs at manufacture. They (21 & Co) will become trillion-airs if they can pull it off.
NOW consider a SAFE network alternative.
- you get coins (fractions?) from doing real work (farming)
- you benefit 100% from your farming
- your micropayments are fee free
- no centralised mining, no exposing your personal information
- no one levering your electricity/machine costs for their benefit, no rich cats off your efforts
There is a lot of interesting/good ideas behind 21, BUT they are all engineered to benefit 21 & Co financially in a huge way.
There is so much potential (same way) in SAFE, but each individual user is the sole beneficiary.