Bitcoin POS now available

[Agathamay]

Came across this news on X and it really caught my attention https://x.com/gedamtekle/status/2010708927281803467?s=48 as bitcoin payment are now becoming easier and with a device like this, I think adoption will be more easier and I don't know if anyone have seen a physical bitcoin POS machine not the regular bitcoin ATM.

The sad part is that, it seems the usage of the machine might be a little challenging for first time adoption and it also requires some level of trust before local business might accept it which I think might be challenging for the adoption.

Has anyone seen a physical bitcoin pos device and how easy to use is it?

This is the first time i am seeing this, I have never heard of this kind of stuff before, i have seeing different machines before but I have never heard or seeing bitcoin machine before, it will be similar to other pos machine but how do people are going to believe it when you can use your phone to make a transaction if you want to make a payment, the machine is good because it will help some people when they are not with any device that they will use to make payments but what people to not see it very important is that since the introduction of pos is new, people will still prefer to make a phone transaction than using the machine because no one is safe, people are using pos machine to scam customers and no matter how there are people who thinks negative about it, so as long as people can make transactions of bitcoin through their own wallet and phone, they will prefer to continue using it.

Good things take time, don't you think so?
I believe people might not be familiar with it now but we time they will and until then, it will be wise according to the x poster to venture into the business now that's early before people really get into it but the challenge is that it will be difficult to promote it has adoption rate isn't much for now.

"Here is how you can make money easily" tweets are a million out there, reality is very different. Just this one example shows you that it is not easy and yet he makes it sound like it's so easy.

You need to find these machines, you need to buy some of them and have it, then you need to find a backdoor processor which is already near impossible to get in this situation, then you need to convince places to accept. All of these are incredibly hard and you will most likely fail and yet he makes it sound like it's so easy.

Exactly but the point isn't about starting a business for me but rather trying to expose the initiative to people about having bitcoin POs machines

[Alphakilo]

There are alot of similar bitcoin payments processing devices and pos is one of such devices that make alot of sense to most traders and mean merchants that carries out international transactions,  most popular in countries like China and the rest region that are into heavy exportation of technological tools and equipment.

Making there payment fast and easy.

On their impact on the bitcoin adoption, I think is low because they intention is how to use bitcoin for they transactions only with their customers which most merchants have limited customers and outside the ordinary crypto user's.

This Bitcoin POS is definitely a step forward in the direction of massive adoption and use case, not only as regards hodling by DCA strategy but by everyday use case. I was hoping to see the kinds of Bitcoin cards and manner of application this device holds but would do further research on it.
Countries have to get onboard while it's still fresh and a statement of future successful integration into the economy for major benefits despite rise in gold price.

[Floxynice]

This is a good initiative aimed at making bitcoin easily accessible and convenient for business transactions.  However, I just do not consider a bitcoin POS too safe for use. Maybe anyone who uses it should ensure he doesn’t leave his bitcoins in there for too long or save a large sum there. Below are the reasons I said so.

• just like fiat POS, the bitcoin pos will be issued by a service provider who controls the private keys. The issue of custodial risk is not fully ruled out here
• secondly, i fear that the device might be compromised by the service providers or anyone and a merchant who is not smart may not notice on time.

Apart from these two reasons above, if I am a merchant, I will emphasise on no refund policy because bitcoin transactions are irreversible.

[Chibit01]

The sad part is that, it seems the usage of the machine might be a little challenging for first time adoption and it also requires some level of trust before local business might accept it which I think might be challenging for the adoption.

I don’t see anything challenges here, if the POS is being introduce by a company which have name and reputation their customer will just continue to use if because they trust the team behind it, another thing too is that it’s easier for anyone who know how to run Bitcoin transaction to use it, and such machine are also always linked to payment processor which will likely convert the money directly into supported local account.

[PrivacyG]

This is interesting and all, but don't you (and I mean anyone reading this thread) think the days of bitcoiners wanting merchant adoption are gone--or at least are going at a rate where there's not going to be much enthusiasm left when tech like this comes out?

It is good and bad, I some times wish there still was a similar level of enthusiasm when things like this are released.

But does any of you think this POS has any chance of getting implemented and adopted by merchants?  Before Bitcoin POS we should first get Bitcoin usage in the hands of the average population in my opinion.  Using a Bitcoin POS sounds to me at least even more complicated than 'classic' payments and even the classic ones are already complicated enough for the average human.

[BlackBoss_]

It is good and bad, I some times wish there still was a similar level of enthusiasm when things like this are released.

But does any of you think this POS has any chance of getting implemented and adopted by merchants?  Before Bitcoin POS we should first get Bitcoin usage in the hands of the average population in my opinion.  Using a Bitcoin POS sounds to me at least even more complicated than 'classic' payments and even the classic ones are already complicated enough for the average human.

If people want to have and use something simple, they would use cash that has existed for a very long time in human civilization and all people at least till now knowing how to use cash. Things have changed recent years with digital e-banking for bank transfers, blockchains and cryptocurrency on chain transactions as well as upcoming more popularity of CBDCs (Central Bank Digital Currencies). People will have to adapt to newest innovations, technologies and national as well as global changes from governments and bank systems, so they have to learn and master things they see as complicated now, to use them, and to master them with time.

With newbies, first exposures should be something as most simple as possible, to attract them, to convince them using it rather than making them fearful and staying away.

[CryptoYar]

Physical pay terminals allow Bitcoin to be used with real life shopping because they can use it in way similar to cash to buy more popular goods. Bitcoin ATMs are usually designed to change cash to crypto, while payment machines are designed to be quick, which appear almost the same as credit card machines and work on Lightning Network, which is almost at once moving money with almost no charges. Shop owners will feel panic over price changes suddenly in Bitcoin, yet most of these machines can fix this and make store owner receive local money right away, taking away chance of losing.

Besides look of physical machine on counter of store creates feeling in people that Bitcoin is not only computer code but also real money. However, nowadays, machine is not  most hard part, but other tough tax and record keeping rules, where any cup of coffee sold is tax to be paid.

[TastyChillySauce00]

The sad part is that, it seems the usage of the machine might be a little challenging for first time adoption and it also requires some level of trust before local business might accept it which I think might be challenging for the adoption.

I don’t see anything challenges here, if the POS is being introduce by a company which have name and reputation their customer will just continue to use if because they trust the team behind it, another thing too is that it’s easier for anyone who know how to run Bitcoin transaction to use it, and such machine are also always linked to payment processor which will likely convert the money directly into supported local account.

To solve the challenge of first time adoption, the POS company can just make the payment flow the same as paying with credit card except just some small difference here and there.
If credit card requires swipe or NFC connection by putting the phone near the POS machine, they can simply create small workaround for crypto with a little QR code scan. Every crypto wallet in mobile phone always have QR code scanner and that will be convenient enough.

The first time adoption challenge will just become a myth if the payment flow being worked out is made to be as convenient as it can be. People like to think as if crypto transaction is complicated yet that's actually false if the developer can develop the right flow.
IMHO, Stripe's stablecoin adoption can be replicated by company that wants to support bitcoin payment.

[Samlucky O]

Has anyone seen a physical bitcoin pos device and how easy to use is it?

I have never ever seen, heard of or come across this Bitcoin POS before. I am only awear of Bitcoin ATM machine but not the POS version. I actually knew something like this is gonna happen some day because the arrival of Bitcoin ATM machine bigots the arrival of Bitcoin POS. All this are just to make Bitcoin adoption increase. Although at first it will look somehow difficult, but as time goes on it will become normal and legally accepted.

[Achalugo BTC]

Maybe. or maybe the fees question would put an end to it for them and they would still rely on what was set in stone Especially for newer generation of people / millennials trying to expose themselves to BTC.

Well, you might be right, especially if the costs are transparent, people are likely to be comfortable using it.
But its still essential for people to be careful and cautious of what they are doing, that is to say they should have the understanding of it, so that they can know how to use it and also know how to avoid mistakes that will ruin their plans and end up becoming disappointing, because knowledge is the power and if one neglect or ignore them might be making mistakes that will lead them into pains or regrets.

[IceLincoln]

Wow…. Okay this is nice, very nice I’ve only heard or known of bitcoin ATMs and now we’re seeing POS machines too. Great improvement and innovation for the bitcoin community.
Unfortunately this innovation wouldn’t really touch everywhere as it’ll be beneficial for countries with good cryptocurrency technology and environment as mine is still sitting on the fence, there aren’t a lot of businesses accepting payments by bitcoin.

[betswift]

Has anyone seen a physical bitcoin pos device and how easy to use is it?

I have never ever seen, heard of or come across this Bitcoin POS before. I am only awear of Bitcoin ATM machine but not the POS version. I actually knew something like this is gonna happen some day because the arrival of Bitcoin ATM machine bigots the arrival of Bitcoin POS. All this are just to make Bitcoin adoption increase. Although at first it will look somehow difficult, but as time goes on it will become normal and legally accepted.

Yep. Just like the ATMs were at the start of it.. Now most of the people know about them and some do use them.. However, I still see it only as an alternative and the main way of doing things, but regulations bring clarity to paths of which we may use BTC like that.

[xiamin]

I have not seen or experienced a Bitcoin POS machine yet, but some countries have implemented this system, such as in the field of goods and services or in luxury hotels. Bitcoin POS is also being used widely in goods and services in El Salvador.

[Alonso_]

Came across this news on X and it really caught my attention https://x.com/gedamtekle/status/2010708927281803467?s=48


as bitcoin payment are now becoming easier and with a device like this, I think adoption will be more easier and I don't know if anyone have seen a physical bitcoin POS machine not the regular bitcoin ATM.

The sad part is that, it seems the usage of the machine might be a little challenging for first time adoption and it also requires some level of trust before local business might accept it which I think might be challenging for the adoption.

Has anyone seen a physical bitcoin pos device and how easy to use is it?

I haven’t seen any bitcoin POS physically anywhere, in the part of the world where I find myself this things aren’t very common, but I’m completely sure most countries have had this experience, countries like China and Japan have been very successful with having this new technologies, just like the BTC ATM that I haven’t seen anywhere before.

I don’t really know how Challenging it will be to use this technology, but I’m sure people can easily make use of the Bitcoin ATM so it wouldn’t be very sad as long we think and people just have to learn how to make use of the machine, and I think it will be common in countries that Bitcoin is accepted.

[Satofan44]

Good picture.

To solve the challenge of first time adoption, the POS company can just make the payment flow the same as paying with credit card except just some small difference here and there.
If credit card requires swipe or NFC connection by putting the phone near the POS machine, they can simply create small workaround for crypto with a little QR code scan. Every crypto wallet in mobile phone always have QR code scanner and that will be convenient enough.

No, the payment flow can never be the same because of security reasons -- even for small amounts it would be extremely dangerous. The current crypto payment flow is already like this, generate QR code, scan, enter password, send. However, it will never be able to match with NFC payments because a crypto wallet should never be able to send a payment automatically. The closest thing to replicate this behavior would come with a NFC-enabled card that is tied to a crypto wallet directly, but other than that I would not go for it. Since good wallets are device-based and owned by the user, automatic or tap payments even with a limit would be extremely dangerous as exploits could circumvent those restrictions since there is no centralized party to enforce it or refund it. Scammers that use skimmers would have a nice time.

The first time adoption challenge will just become a myth if the payment flow being worked out is made to be as convenient as it can be. People like to think as if crypto transaction is complicated yet that's actually false if the developer can develop the right flow.

Crypto payment are already as convenient as they can get, basically just a level down from that NFC tap flow. It does not need further improvement towards that, that is actually dangerous and shouldn't be used at all. It encourages people to devalue their own money and spend more. Convenience is your enemy when it comes to spending money. Good for the merchant and business, terrible for you as a person. This is actually one of the primary reasons why many young people these days do not have any financial discipline, they are addicted to NFC and card payments.

I have never ever seen, heard of or come across this Bitcoin POS before. I am only awear of Bitcoin ATM machine but not the POS version. I actually knew something like this is gonna happen some day because the arrival of Bitcoin ATM machine bigots the arrival of Bitcoin POS. All this are just to make Bitcoin adoption increase. Although at first it will look somehow difficult, but as time goes on it will become normal and legally accepted.

It is nothing special though. POS is just slightly more specialized than accepting a Bitcoin payment through a phone or tablet, nothing else. If a merchant already is using a solution, they don't need an expensive POS device.

[Osiokwudiri]

I'm excited too, and I'm still wrapping my head around it. Since nothing's impossible, I'm open to giving it a shot. Has anyone here used this Bitcoin ATM before? If so, please share your experience and walk us through the process. What are the requirements to use it, and where can I find one? I'm thinking maybe supermarkets that accept Bitcoin might have one.

[Ronsbit]

I have not seen this before, and here is the first place and the first time I am seeing such. It is very good that such a technology is beginning to take shape; at least it would help vendors transact in bitcoin for goods and services, and that would make payment very easy and fast to confirm. If I may ask, is it a Lightning Network setup or what? Who are the producers or the manufacturers of this Bitcoin POS?

[impulse709]

I have not seen this before, and here is the first place and the first time I am seeing such. It is very good that such a technology is beginning to take shape; at least it would help vendors transact in bitcoin for goods and services, and that would make payment very easy and fast to confirm. If I may ask, is it a Lightning Network setup or what? Who are the producers or the manufacturers of this Bitcoin POS?

The appearance of Bitcoin POS solutions is fantastic - it is a good move towards the real-life adoption. The majority of new Bitcoin POS systems rely on the Lightning Network, as on-chain Bitcoin transactions are too slow and costly to be used to perform instant retail transaction. Lightning allows instant settlements and with low fees which makes it perfect with merchants. It does not have a single manufacturer, some of the devices are built by crypto payment firms that provide both hardware and software, and others are regular Android POS terminals with Bitcoin or Lightning applications. The brand would know what is custodial or not, what is the setup they have.