Vending machines that use Bitcoin

[btc_angela]

It's not that far.
I speculate that Japan will be the first, if not, having the most vending machines allowing Bitcoin to be used as a payment.
Think about it, it's not that far to be implemented if we look into these existing ATM machines already.

Well I tried to search for numbers, but as of right now, we don't have accurate data to begin with. I was more into looking like Bitcoin ATM numbers like https://coinatmradar.com/. But it's possible that Japan right now have bitcoin accepting machines through LN as we all know that have adopted bitcoin since 2017. Maybe we. can see a revival of vending machines around the globe if they realised that it is also profitable.

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[Cimmy_revenger]

Bitcoin vending machines have been around for 4-5 years.
and now there is an easier version, we can withdraw cash money at an ATM machine without having to have bitcoin but altcoin can also (in real time price conversion)

[DreamStage]

If the speed of the transaction would allow you to get the vending machine item at a time of a 1 second, where the network would somehow not become laggy.
Yeah it would be awesome for it to exist.

But as everything, network has problems when the network gets messy, laggy, routes damaged.
Therefore when the traffic get's throttled away it will be hard for the vending machine to keep up the item release.

Or it will have to tell the user to wait for a confirmation

[chaoscoinz]

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? ??

This would be awesome, imagine If major corporation merchants and vendors decided to allow the implementation of  cryptocurrencies as an viable payment option. Bitcoin would most likely be the first, then maybe Ethereum being a future second choice. You walk up to a beverage or snack machine, perhaps scan your phone or use some kind of near field communication option on your phone, and bam, instant snacks!
  In fact, you could probably add a scanner to read paper wallet public keys, and create some interface on screen to make it simpler. Your a genius bro, this sounds like an awesome idea. Bitcoin ATM's are becoming more popular but a freaking vending machine would be stellar. Get a permit and contract for your local college campus, and bam!
 Just wishful thinking though! Just my two cents 

[Eternad]

If the speed of the transaction would allow you to get the vending machine item at a time of a 1 second, where the network would somehow not become laggy.
Yeah it would be awesome for it to exist.

But as everything, network has problems when the network gets messy, laggy, routes damaged.
Therefore when the traffic get's throttled away it will be hard for the vending machine to keep up the item release.

Or it will have to tell the user to wait for a confirmation

It’s really possible for the area that have high speed internet connection or provide free internet connection for both the vending machine and the app will be use to scan the account. Everything is possible to do in btc as payment as long as there is applicable apps and internet connection. It will be nice to try it once we have it in our country, but we need first a stable internet connection, which is a problem in my country till now.

[iamsheikhadil]

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.

Japan has realized and it was expected from them being the tech savvy country it is and the leading in technology, it is a must that Bitcoin world has their capital in Japan lol. Japan might give clash to US in terms of economy for their these many contributions to the crypto world.

[Ucy]

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.

Why would people not spend theirs now? I thought deflation was given as the reason why. Bitcoin is more "stable" thesedays, yet the problem still persist...
I think lack of decentralized infrastructures is one of the main reasons why this is so. Many are probably scared to use these payment tools in their lands without government backing. If the decentralized infrastructures are available & easy to use, I don't think most people would not use them.

[Wintersoldier]

That's definitely possible. We are innovating so it can happen. But we'll probably see that with developed countries first before other country adopts it. But it's too early for that kind of technological adoption since we're still lacking in mass adoption. And it's only possible if there's a lot of people that will want and ask for it.

But it really depends in what kind of items or food is inside of the vending machines to attract the attention of people right? What if they put some prizes first that is promising to boost up the adoption of bitcoin? It is a great marketing idea in the bitcoin space when we are doing things like these. And in addition, they could add up some bitcoin ATM soon, so the people could have bitcoins to use in the vending machines and at the same time, bitcoin adoption could be possible.

[kryptqnick]

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? ??

Do you buy things from a vending machine often? In my country they aren't popular, the only ones which are quite used are those with cheap coffee. And the machines are very limited in terms of money here. They accept only cash, and only coins or banknotes of small nominal. If they don't even fully accept fiat, why would they accept Bitcoin LN? And if vending machines aren't very popular, I think it does not matter for Bitcoin adoption.

[ChrisPop]

The technology is there. Lightning network has been working well, but we need a start-up or something to start developing those vending machines mecanics. I mean it is not that hard - it is just hardware and software aka metal, componenets and a smart contract. RSK offers smart contracts on Bitcoin if I am not mistaken.

[Bitcoin_bullish]

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?

Plot twist:

Bitcoin Vending Machines exist since 2012:

https://www.youtube.com/watch?v=pDOcLros-w0

[CarnagexD]

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?

We have not been in lightning network though,  But i agree the transaction fees are more than what I am paying back then. But you guys would would consider if buying in vending machines is more benificial unlike buying in actual cashier the you are wrong, I have noticed in fastfood chains here im my country, people do still prefer buying on counter than on kiosk. So I would say having actual cashier is better than having electronic ones of kiosk.

[hatshepsut93]

Why would people not spend theirs now? I thought deflation was given as the reason why. Bitcoin is more "stable" thesedays, yet the problem still persist...
I think lack of decentralized infrastructures is one of the main reasons why this is so. Many are probably scared to use these payment tools in their lands without government backing. If the decentralized infrastructures are available & easy to use, I don't think most people would not use them.

Because investing is the biggest use case for Bitcoin right now, and people normally don't cash out their investments just to make purchases, they have fiat for that. So many people here say that fiat will soon die and Bitcoin will take over, so isn't it logical that people would try to get rid of their fiat first and should prefer using it as a currency for their daily transactions?

[agentx44]

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? ??

I think it is too early to tell. That maybe a small step for bitcoin's revolution but still it would require getting bitcoin legalized all over the world. Not everyone knows about it yet, some may know the name but not the real use of it so we cannot expect any company or business to collaborate with bitcoin this soon. Maybe in the future, we will not only see vending machines that accepts bitcoin but also every transactions we are making can be paid through bitcoin to promote convenience and less taxes for the people.

[koinsever]

i think BTC for big money transfers. it valuable. BTC  is precious. not for use buy a chocolate. vending machines may use DOGE or LTC. but BTC could use for bank transfers or sports team's player's wage/transfer fees. something like big things than little chocolates.

[Astvile]

i think BTC for big money transfers. it valuable. BTC  is precious. not for use buy a chocolate. vending machines may use DOGE or LTC. but BTC could use for bank transfers or sports team's player's wage/transfer fees. something like big things than little chocolates.

Using bitcoin in both small and big transfers is really good no matter how much fee you pay because of the anonimity, bitcoin provides you anonimity in each transactions. Vending machines must use all popular coins it will just depend on the customer on what they want to use.

[alexsandria]

The idea is great, would be very convenient especially to the customers who are used to buy a drinks at some vending machine. In addition, it would be more... let's say secured in a sense you'll have to pay the exact amount, and you have nothing to worry about your change (because some vendos have some kind of functioning issues like when you pay for a whole amount, and it won't give change). However, the thing here it ain't going much useful in a community who have a small amount of people which into bitcoin.

[Bim abk]

i think BTC for big money transfers. it valuable. BTC  is precious. not for use buy a chocolate. vending machines may use DOGE or LTC. but BTC could use for bank transfers or sports team's player's wage/transfer fees. something like big things than little chocolates.

Using bitcoin in both small and big transfers is really good no matter how much fee you pay because of the anonimity, bitcoin provides you anonimity in each transactions. Vending machines must use all popular coins it will just depend on the customer on what they want to use.

but not everyone will agree to the transaction costs are quite large. but there are actually many other positive things when using bitcoin, especially with the anonymity they have. so I think bitcoin transactions have their own advantages and disadvantages

[Polar91]

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?

It could be possible especially if we are to adopt changes to bitcoin, we need to lower down the transaction fees of bitcoin network. But in order for this to happen, the bitcoin scientist such as gavin should comback to business and for me, making this possible could compromise the entire system. That is the reason why I think they made it clear that no future changes could happen to bitcoin to remain the trust people have provided to it. One question, are we going to invest to bitcoin if we know its market volume vould be change becauae of internal code update? no. So that's why we entrust the updates to future forks and creation of new cryptocurrency.

[Zionatin]

I think this is a very good idea and much better than an ATM. You do not have to worry about being robbed since there is no cash in the machine, instead the bitcoins are kept with you on your pc. Less work having to retrieve coins and deposited them into a bank account physically at the bank. This will work well in Japan where they have so many vending machines. You could even start your own currency that is used to pay at these machines and have a project with a purpose. There is untapped potential there. It will also get people interested in adopting crypto themselves. At least them can pay at vending machines so they will not feel they wasting their money on crypto and they will see it works and think its awesome and hopefully never go back to fiat.