How Bitcoin might help fix the Internet of Things.
The other issues are:
1) The user is unlikely to ever know it's compromised.
2) Most devices can't be updated.
3) Even if updates exist, users are unlikely to know they exist.
4) Even if it can be, and the user knows, most users won't bother.
5) There will be another bug, or patch ineffective and the maker will be gone, or closed by Google or lose interest as they are supporting the new shiny thing, or developer is gone (outsourced?) and no-one can patch it.
Forced automatic updates are actually a security risk and not a solution.
Ultimately the palliatives used by phones, tablets, PCs etc only partially solve the problem even for those. The IoT issue may not have a solution other than uPNP illegal on firewalls and no INWARD control at all on domestic IoT.
We don't even have a complete solution for ordinary Internet stuff. The issues go to the heart of adding security as an afterthought to most internet protocols. Why didn't email have signing, whitelisting, etc from day one?
Why are web browsers still not properly sandboxed?
Why aren't 3rd party cookies illegal, or 3 party iFrames blocked? Why are all defaults on all browsers and email clients at nearly the worst for security & privacy.
So how can we expect anyone to get IoT security right?
So called "Agile" software development makes it all worse.