Bitcoin Vending Machine

[bering]

currently people still can't know the advantages or disadvantages from bitcoin vending machines and correct me if i'm wrong but until now there is no bitcoin vending machines available but currently only bitcoin ATM are available which is the locations from other countries such as US, Canada, Singapore and etc

[KingKrypto]

I'm a fan when it comes to vending machines.

The first modern vending machines were developed in England in the early 1880s.
I have never seen an actual vending machine that accepts bitcoin. It would be so awesome watching how it works.

Can you please tell me what are the advantages and disadvantages of this invention? Please share your thoughts. Thanks in advance!

So far with are the the stage of ATMs, soon enough the integration of Blockchain will be wider and Vending machine will be able to accept Bitcoin as well.
Just give it time and everything will be possible.

[spngebob]

I'm a fan when it comes to vending machines.

The first modern vending machines were developed in England in the early 1880s.
I have never seen an actual vending machine that accepts bitcoin. It would be so awesome watching how it works.

Can you please tell me what are the advantages and disadvantages of this invention? Please share your thoughts. Thanks in advance!

Advantages:
- there isn't any.

Disadvantages:
- paying something what cost half dollar - half dollar + transaction fee
- waiting your transaction to confirm, I don't see point in waiting up to 45 minutes to get coffee or something thus said above.

[CottonGuy]

snip

Rather than spending that much time writing that you could have taken a second look at my post.

I've never talked to you!!!!!
My last reply was for the copy paste done by Carmen03, and the other two replies to xhoondilan and onnz423.
Learn how to read messages with quotes !!!

I do apologize! reply to post deleted. My bad!

[Vladv26]

Vending machines are not going to add bitcoin as a payment method because there arent so many people that spend bitcoin to buy food. Probably there are going to be 2-3 people per month that buy from that vending machine so it does not worth the effort to add the software that accepts bitcoin to the machine. There are going to be some advantages because you could pay a lot faster just by scanning the QR code and pressing the pay button in bitcoin wallet. Another advantage is that you could pay directly through your phone if you dont have money or a credit card at you.

[player514]

I'm a fan when it comes to vending machines.

The first modern vending machines were developed in England in the early 1880s.
I have never seen an actual vending machine that accepts bitcoin. It would be so awesome watching how it works.

Can you please tell me what are the advantages and disadvantages of this invention? Please share your thoughts. Thanks in advance!

I don't think this is the best idea because it could have a lot of disadvantages for the seller. There's chances that someone might just double spend a transaction, cheat the machine, and get whatever they want out of it, all while being completely anonymous. Furthermore, it's just not time efficient when bitcoin transactions are flooding. There's going to be people who try to buy something and then have to wait for an absurd amount of time to get their item if they have to wait for one confirmation.

These reasons just make a bitcoin vending machine not really appealing, so I think there might be a better design here that could get it to work.

[stompix]

I don't think this is the best idea because it could have a lot of disadvantages for the seller. There's chances that someone might just double spend a transaction, cheat the machine, and get whatever they want out of it, all while being completely anonymous.

You could solve this problems but it would trigger others.
The most obvious solution would be to require an ID scan before you start the actual purchase.
But it will turn a lot of people from buying, not only because of privacy concerns but also because most of them don't carry their id all the time. Plus it would require a lot of extra paper work from the vendor.

An other way would be a special personal code or pass that you can get from the vendor, by this confirming each time your identity.That would protect a bit the seller from fraud but it would probably make him lose 90% of the customers.

There is no easy and fast way that doesn't involve risks.

[SiDtHeBeSt]

It might not be a good idea as of now because when there is a lot of traffic it causes a lot of congestion which ultimately leads to very long confirmation times as well as very high fees. So if a person would like to use a bitcoin vending machine during such times he/she would have to pay far more than the actual price of the product.

[ekaterinastrelnikova505]

How many years ago the list could include mining, but now the popularity of Bitcoin's crypto currency has gone too high with a restriction on the daily norm of the created blocks?

[19nataliya12]

The representative of the STI Rolandas Punciavičius in the comment DELFI explained that these terminals should receive certificates of vending machines, included in the list of authorized STI cash registers and vending machines and registered with the STI. "Such equipment should ensure the safety of the data received, ie, the data on the number of sales or services provided should be accumulated in the memory, the amounts coming through the machine, and they must meet the following requirement: if they are disconnected from the power network, the financial data must be stored not less than 30 days, and the work of the terminal should be automatically blocked if you try to turn off the memory or the system of counting funds "

[brickafterbrickwalldpt]

I rarely see vending machines which accept credit cards, I usually don't have any small change with me so it is really annoying, Vending machine which would accept Bitcoin would be interesting but there are few problems that concern me. Would you give snack or drink immediately after the transaction was sent? Someone could rebroadcast transaction with higher fee to different address and in result get really cheap drink. A big screen would also be needed for displaying the QR code and the address for additional confirmation.

[ldah94]

Taking the bitcoin to the street by means of these vending machines is a great advantage for the currency, which allows greater disposition and use by the general public and also we observe vending machines that offer products paying with bitcoins, such as redbull, Without a doubt this is an excellent way to promote the use of digital currency.

[yj300316]

I'm a fan when it comes to vending machines.

The first modern vending machines were developed in England in the early 1880s.
I have never seen an actual vending machine that accepts bitcoin. It would be so awesome watching how it works.

Can you please tell me what are the advantages and disadvantages of this invention? Please share your thoughts. Thanks in advance!

This is a nice concept, if you can buy in vending machine using bitcoin, it can be very simple to do.
You just need to bring your wallet, it can be paper wallet, or mobile phone wallet, and just use it.

[bug.lady]

The advantages of having a bitcoin vending machine is that you can buy things on vending machine a lot faster than bringing bills or credit card. Because in bitcoin you only need a qr code of your wallet address to pay so the vending machine will scan it and you got your order, while the Disadvantages of it is the cost of the machine that uses bitcoin on payment i think it will cost a lot on the manufacturer but if the result is good then maybe thats one of the future technology using bitcoin.

I think it should work the other way around, mate. You scan the QR code provided by the machine with your wallet and send the purchase amount to the machine's address.

If it were the way you suggested, what stops the machine from storing the QR code you provided and reusing it, or just emptying your address completely the moment you scan your QR code?

Reusing the code not enough if the user not approve the payment so we dont need to worry.
Another thing, the payment normally take longer time so its the first problem we will have. How to solve it?

No it doesn't work like this in bitcoin, you don't approve any "incoming" payments, i.e. payments from your wallet cannot be initiated by the third party (vending machine). You can initiate your payment, but to do that you need to know the machine address and hence the machine should display its QR code.

Long processing time can be solved by accepting 0 confirmations, and it is strictly risk management related issue, it can be handled, corporations have means to calculate the risk involved and "incorporate" it in the vending price.