Vending machines that use Bitcoin

[Abiky]

Now that it's possible to send instant transactions at a fraction of the cost using Bitcoin's Lightning Network, I'm starting to wonder whenever we'll be able to see vending machines accepting Bitcoin someday?

For years, we've been accustomed to vending machines which accept physical cash above all else. A Bitcoin vending machine that would use the Lightning Network would turn out to be quite revolutionary for many businesses in the mainstream world. It'll be even better than paying with physical cash. This would also benefit the Lightning Network in terms of adoption worldwide. I'm sure that someone is already working on this in order to make our lives easier than ever.

What are your thoughts? Is the Lightning Network ready to be used on vending machines, or is it too early to tell? ??

[khaled0111]

It would be great to see such machines but I doubt any company will start manufacturing them anytime soon because of the small number of customers using bitcoin. Besides, the lightning network is still under development (testing stages) and using it requires some technical knowledge.

[hatshepsut93]

I'm sure that someone is already working on this in order to make our lives easier than ever.

You are correct, I saw some working prototype of such machine on Twitter last year, it was selling candies with LN payments. However, before we'll have widespread vending machines, we'll more likely to get LN Bitcoin ATM's. Currently Bitcoin vending machine wouldn't be profitable, since there's so little people who could pay with Bitcoin, and not everyone who owns Bitcoin wants to spend it. But buying/selling Bitcoin for cash is much more common, and Bitcoin ATM's are already popular, so adding LN to them would greatly help them by reducing fees, improving speed and allowing to operate with smaller amounts.

[Baofeng]

Of course it's possible because there's already a vending machine that readily accepts BTC.



https://twitter.com/EthanZ/status/758485225588531200


We already have a companies that solely focuses on bitcoin vending machine  Upstate Networks Incorporated. Maybe with some few tweaks, we will see "Lightning Network" being implemented as well.

Aeguana - a start up company has already make a bitcoin vending machine and so as regular fiat.

And then we also have Liberty Vending, LLC. So this could be a trend in the next coming years.

Edit: https://www.youtube.com/watch?v=2Fb6Xww2P7c - Coke vending machine that accepts Bitcoin payments through Lightning Network

[bitcoindusts]

What are your thoughts? Is the Lightning Network ready to be used on vending machines, or is it too early to tell? ??

I think it is yet ready to be used in vending machine.  Bitcoin atm had been around for sometime now, so I think a vending machine connected online for price adjustment is very possible.

Of course it's possible because there's already vending machine that readily accepts BTC.



https://twitter.com/EthanZ/status/758485225588531200


We already have a companies that solely focuses on bitcoin vending machine  Upstate Networks Incorporated. Maybe with some few tweaks, we will see "Lightning Network" being implemented as well.

Aeguana - a start up company has already make a bitcoin vending machine and so as regular fiat.

And then we also have Liberty Vending, LLC. So this could be a trend in the next coming years.

I wonder only a few are into creating a vending machine that accepts Bitcoin.

[AjithBtc]

It would be great to see such machines but I doubt any company will start manufacturing them anytime soon because of the small number of customers using bitcoin. Besides, the lightning network is still under development (testing stages) and using it requires some technical knowledge.

Agreed, it requires good technical knowledge as well as the capital funding. Already there were more Bitcoin ATM around the globe for usage, but as it didn't yield expected revenue more ATMs were taken back by the company itself. Now with this new vending machine we'll get faster access, but the limited number of users will not benefit the company. Maybe as a Service one can start expecting good profit in the future as more and more people are getting aware of cryptocurrencies.

[sureshnsnet]

There are some vending machines operating wordwise over the years and still, more do come because of some vending machines manufacturing companies working under that you can get more information about regarding that in the below link.

Source: https://www.xceltrip.com/blog/vending-machines-that-accept-bitcoin

[CryptoBry]

What are your thoughts? Is the Lightning Network ready to be used on vending machines, or is it too early to tell? ??

That can be happening soon IF (and this is the biggest IF) vendors can sense that there is really a good and viable demand from their prospective customers about it. In fact, we will not have any big problem on the side of the merchants when talking about adoption if there is really a big market for anything. The problem is that even if vendors are gonna provide the Bitcoin option if there will never be an adequate sales or revenues resulting from such a choice the whole thing will eventually be pulled down. In other words, this is the demand side and not on the supply side or the necessary infrastructure because it is the nature of any business to look for ways and means to provide something if they can be sure there is money to be made in there. It would be good if one day vendors everywhere can be providing this Bitcoin option because this is some sort of advertising for cryptocurrency.

[meanwords]

Too early. The only thing I know so far is the ATM machine where you can get withdraw/deposit Bitcoin,the coin slot machine where you insert coin to convert it into Bitcoin, and some mini vending machines. With lightning network still under development, there's just a huge chance people the bigger company would make something like a vending machine for Bitcoin. What I want to happen to lightning network is to be use by stores, especially fast food restaurant and markets.

[Janation]

It is already there.

I heard people talking in a food court the other week about vending machines and they talked about digital currencies. They did not specifically talked about Bitcoin but the guy said that they are working on these "digital currencies", it might be mobile wallets though. I think it will be implemented more in the future side to side with other online wallets.

[Shasha80]

I think this might just be true, most likely the one who will first apply this is the country of Japan. Not only in Japan there are many
vending machines, but Japan is also a country that has legalized cryptocurrency. Especially Japan in developed countries that can
make vending machines accept payments using bitcoin. It's really good if it's true that this can be realized soon, indeed it is better
to use the lightning network so that transactions can be faster.

[The Sceptical Chymist]

It would be a great idea to have vending machines accept bitcoin....if this was 1996.  But in 2019?  I couldn't even tell you where the nearest vending machine is.  Probably at my local hospital or something, but you don't see them all over the place like you used to.  So I think even if this were ever to become an option it wouldn't have a major impact on anyone's lives--certainly not mine.

I do realize that vending machines are still very popular in other countries, and I think Japan is one of those if I'm not mistaken.  But where I live they're pretty much a dying breed and have been for years.  I don't see too many of them around anymore.  Plus I think people would still much rather use their debit card or some physical coins to pay for a snack or a drink out of a machine because that's what they're used to.  I sure as hell don't want to pay a network fee when I could use cash and not have to worry about the opportunity cost of spending bitcoin, the confirmation time, and whatever else.

[Reatim]

it would be great if even buying tissue papers and condoms can be bought using Bitcoin thru Vending machines ,also Sodas and bottled water because those are very in demand and will bring new era for crypto currency progression ..but just like what pictures send above there are already companies having this and that Soya machine is really cool.hoping that this will scattered the whole world and also seeing this many more around my place.

[Artemis3]

Now that it's possible to send instant transactions at a fraction of the cost using Bitcoin's Lightning Network, I'm starting to wonder whenever we'll be able to see vending machines accepting Bitcoin someday?

For years, we've been accustomed to vending machines which accept physical cash above all else. A Bitcoin vending machine that would use the Lightning Network would turn out to be quite revolutionary for many businesses in the mainstream world. It'll be even better than paying with physical cash. This would also benefit the Lightning Network in terms of adoption worldwide. I'm sure that someone is already working on this in order to make our lives easier than ever.

What are your thoughts? Is the Lightning Network ready to be used on vending machines, or is it too early to tell? ??

It might be possible that next year, i will be visiting the land of vending machines, which also happens to be the first country to adopt Bitcoin. Then i will pay attention and check if some actually take bitcoin. However, i see an easier option. You can, say, use the card for mass transit with the vending machines, so it would make sense to have a machine that takes bitcoin and use that to add money to this card, which expresses amounts in fiat, so that particular machine would also be exchanging (pay processing), not unlike an ATM. They do have those for fiat, of course. It would take only a slight modification to add Bitcoin.

Used in this fashion you probably don't even need LN. You can simply send funds to it, and check again tomorrow, since you don't have to deplete your transit card to add more money to it, just do it in advance.

There are other countries that use similar transit cards for subway/bus and the cards can be used at convenience stores etc, and they even give you some credit (can go negative up to a limit) which is even more reason they don't need the transaction to be instant.

So you never even needed instant payments to begin using Bitcoin in vending machines in the first place, if the machine takes any other form of electronic money already.

If you want to design vending machines around LN, to use Bitcoin directly with them, that's fine. As the company handling the machine, is in their interest to keep their LN node(s) operating and well "fed". But i think they will wait until LN gets "finished", or at least in a very stable state, with the popular wallets supporting it.

[daarul50]

It would be a great idea to have vending machines accept bitcoin....if this was 1996.  But in 2019?  I couldn't even tell you where the nearest vending machine is.  Probably at my local hospital or something, but you don't see them all over the place like you used to.  So I think even if this were ever to become an option it wouldn't have a major impact on anyone's lives--certainly not mine.

I do realize that vending machines are still very popular in other countries, and I think Japan is one of those if I'm not mistaken.  But where I live they're pretty much a dying breed and have been for years.  I don't see too many of them around anymore.  Plus I think people would still much rather use their debit card or some physical coins to pay for a snack or a drink out of a machine because that's what they're used to.  I sure as hell don't want to pay a network fee when I could use cash and not have to worry about the opportunity cost of spending bitcoin, the confirmation time, and whatever else.

true.

the use case of this bitcoin vending machine itself is not something that people needed, the machine created just for a sensation. a new way to pay snacks in an automated machine with bitcoin , that is cool but not really should be a priority in term of building bitcoin ecosystem, it could work to spread bitcoin awareness but not really good for the business itself.

despite i am living in a cahsless society , i also prefer to use coins for such payment -situational factors-.

[Lion BItcoin Shop]

if you interesting, have more free times and "love programing" you can try your own bitcoin vending machine with ardruino, with "Koyn Arduino Library"
this the link

https://medium.com/elkrem/build-machines-that-accept-bitcoins-with-arduino-3e3099696186

[moviebuff777]

I’ve never thought of this before, but it’s not a bad idea. Of course the fees for small transactions would need to be much lower. I assume that is why you reference the lightning network. I don’t know much about it but are you implying that the fees would be small?

[blckhawk]

It could be, but far more time would take to reach that level of adoption on such low-scale. To reach that, adoption should first take place on SMEs (Small-Medium Enterprises) before even thinking of vendos accepting Bitcoin. Also, if fiat could be replaced by Bitcoin or some other, much taxable cryptocurrency for governments to use, then having vending machines accept cryptocurrencies wouldn't be that hard to implement. Unlike current cryptocurrencies that anyone could create a wallet anonymously, a reason that the Government isn't looking on current crypto as plausible.

[joniboini]

Plus I think people would still much rather use their debit card or some physical coins to pay for a snack or a drink out of a machine because that's what they're used to.  I sure as hell don't want to pay a network fee when I could use cash and not have to worry about the opportunity cost of spending bitcoin, the confirmation time, and whatever else.

This.

In my country, digital cash is pretty much everywhere, so LN is not that revolutionary and the competition is way too difficult. I don't think it solves a huge problem either.

I'd rather see lots of companies use Bitcoin to pay for their workers instead of trying to revive a dying business.

[freedomgo]

I am always a fan of lightning network, this will solve the problem of high fees in bitcoin and it's nice that there are people already working on it, this will eliminate the hindrance on why people does not adopt bitcoin for daily transactions.

The purpose of bitcoin then will be serve, it will be fast and cheap with LN.