$1.23 -3.95%
MIOTA · 206w

Some practical questions regarding interacting with IOTA device and transferring value

I really need some ELI5 and practical answers to understand how this is going to work in the real world, I'm sure this is all n00b stuff, but let's assume I’m intellectually challenged. So, let's take this hypothetical case where I bought this Ruuvi weather station and I want to sell my data; 1. How do I let other people know I run this service? Is this done outside the IOTA network (website, Google advertising)? 2. I have come up with a simple pay plan; I. 1 iota every time you ask for temperature or wind speed or humidity II. a monthly subscription: 1 Miota and you can get all the values 24/7 with no limit. Again, how do I let others know? 3. Now I have found a customer who wants my data, he needs to have a client of some sort to fetch the values from the tangle from where I stored this data? How does he know where to find this data? Do we communicate in advance outside the IOTA network? 4. How does the payment work; the payment plan needs to be stored somewhere (in a contract on the tangle?)Otherwise; how do you secure the right amount is paid before the data is released? 5. Now; the customer paid me 1 Miota for a whole month of access to the data; as it turns out, my cat was sitting on the weather station each day for a few hours, so the data was corrupted. How do you settle stuff like this? outside the IOTA network? 6. IOTA is a floating currency, so how is that suitable for transacting value? 1 month ago this customer would have paid me 100% more then he pays now, that's just not going to work.
Go to self.Iota
Recent news