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Author Topic: Vending machines that use Bitcoin  (Read 670 times)
Abiky (OP)
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December 31, 2019, 06:12:12 PM
 #61

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.

I understand. Bitcoin is not widely adopted within the mainstream world yet, so there would be no reason to build a vending machine for it after all. Not to mention, the Lightning Network is still in its early days. One thing that greatly minimizes a business' profits is the price volatility across the market. If Bitcoin was stable in price just like Fiat currencies are, it would've been used more as a currency than a store of value. It's no wonder why most people are hoarding it instead of spending it. Of course, the Lightning Network makes Bitcoin great again with its instant transactions and low fees. If sometime in the future, Bitcoin's Layer-Two solution becomes widely adopted in the mainstream world, then things like "Bitcoin Vending Machines" would be common.

Until then, we'll see more Bitcoin ATMs using the Lightning Network emerge within the mainstream world. It'll be so easy to sell BTCLN to cash because of its low fees and instant speeds. In all ends, regulations will greatly determine the level of success for Bitcoin's Lightning Network on business ventures. I'm sure that many crypto enthusiasts would love to use a "Bitcoin Vending Machine" someday. In my opinion, this will be much better than paying with cash or credit/debit cards because people will be able to achieve a greater level of anonymity. But not everyone uses Bitcoin after all.


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



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

Interesting. I wonder how successful this business venture will be within the mainstream world? Since not many people own or use Bitcoin, a "Bitcoin Vending Machine" might not bring a sustainable income for mainstream businesses and companies. Still, it could become a big hit if people begin to use Bitcoin's Lightning Network more thoroughly. We're still too early to tell about Bitcoin's LN success as the Layer-Two solution is in its infancy. I hope that these vending machines will grow by a large scale, competing with traditional vending machines we've been fond of for a very long time. All in all, I'll be keeping a close eye on the development of this exciting business venture. Smiley

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bitcoinsocial09
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December 31, 2019, 06:33:21 PM
 #62

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? ??
For anything or any technology that involves bitcoin was all good things since we all know that bitcoin was not yet implemented in a lot of countries and surely we all need to keep influencing a lot of people about bitcoin.

With this thing surely it could help to influence people about bitcoin in a lot of countries their are only a small percentage of people that is actually using or having a transactions on bitcoin. And I think it was not yet a big community because as a global currency we need to influence all of the country all over the world, Surely this little things could help a lot , a simple advertisement or ads about bitcoin in a street could make people to wonder about bitcoin and I think through confusing they could easily get influence by it easily just like what happened to me. I just heard this bitcoin and research about it and now I already use it too.

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