bitcoin vending
Bitcoin Sign up or log in to customize your list._ Here's how it works: Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top up vote 1 down vote favorite 2 If a transaction takes anywhere from around 10 minutes to hours to get written to a block and put on the chain, how is it possible to have things like bitcoin vending machines?In those cases, the transaction would have to be near instantaneous to make it practical.transactions unconfirmed-transactions up vote 0 down vote Payment channels are a way to prevent double spending in such cases.As per the Wiki A Micropayment Channel or Payment Channel is class of techniques designed to allow users to make multiple Bitcoin transactions without commiting all of the transactions to the Bitcoin block chain.[1]In a typical payment channel, only two transactions are added to the block chain but an unlimited or nearly unlimted number of payments can be made between the participants.
A possible way for implementing vending machines would involve creating payment channels beforehand with the vending machine company.Infact, for the vending machine case, an unidirectional channel would suffice.Refer to Wiki for details.Bi-directional payment channels using hashlocks are the key to Lightning network which is used to facilitate off-chain transactions at real-time.Your Answer Sign up or log in Sign up using Google Sign up using Email and Password Post as a guest Name Email discard By posting your answer, you agree to the privacy policy and terms of service.Not the answer you're looking for?Browse other questions tagged transactions unconfirmed-transactions or ask your own question.1.500 Bitcoin ATMs in Georgia General I am currently in Georgia (the Country, not the US state).Being a Bitcoin nerd, I want to share my Bitcoin experience.According to the Bitcoin Foundation, there are 370 Bitcoin ATMs in circulation (August 2015).
It was strongly fuelled by skyrocketing of the Bitcoin price from USD 12 two years ago to over USD 1.000 by the end of 2013.… BitXatm – Sumo PRO has arrived in Munich Allgemein The bitxatm is a Two-Way Bitcoin machine .
flash drive bitcoin minerThat means that the ATM can accept both cash and Bitcoin.
bitcoin iran sanctionsThe device can be connected to various Bitcoin Exchanges .
bitcoin mining mh/sWe have set up the ATM in Munich LMU…
litecoin mining calculator formulaMarijuana vending machines hit Colorado—and they take Bitcoin See all Editor's Picks See all Popular About Jobs What libertarian fever dream is this?With Colorado fast becoming the libertarian utopia that neckbearded redditors have long dreamed of, this was all but inevitable.
A new line of marijuana vending machines that consumers can access directly—the first such devices in the U.S.—will accept Bitcoin.Manufactured by American Green, the ZaZZZ machine was unveiled in a private event on Saturday and could make its official debut at the Herbal Elements dispensary in Avon just before 4/20, a cult holiday on which habitual pot-smokers smoke slightly more pot than usual.#zazzz we will be starting a new web series talking about all the products that will go in the machine!/YgyJiE1jy3 — Herbal Elements (@HerbalColorado) April 16, 2014 As CoinDesk has pointed out, Bitcoin and weed were initially linked in Colorado because banks were wary of partnering with businesses that adhered to state regulations but skirted federal law.Unable to accept credit cards, dispensaries could only take cash or, in some cases, cryptocurrency.Small wonder, then, that the ZaZZZ is equipped with QR code technology that allows payment from digital wallets.“It’s quick, it’s efficient, it’s trackable,” Stephen Shearin, COO of American Green parent Tranzbyte, said of Bitcoin in comments to CoinDesk.
Herbal Elements only deals in doctor-prescribed weed, however, so recreational smokers will have to wait a while to skip the line and swipe their IDs, which are verified against “active biometrics,” in order to purchase some sticky bud.Shearin, however, sees a wide range of possibilities for ZaZZZ, including the integration of medical cards.Overall, he sees the machines as an opportunity to increase efficiency, automatically monitor sales, streamline the flow of marijuana from farm to store, and allow “shy” customers a more discreet shopping experience.“[T]hink of automated checkouts at the market,” he told the Cannibist.“Not for everyone, but for those who use it, they love it.” Kind of like Bitcoin itself, no?H/T CoinDesk | Photo by Katherine Hitt/Flickr (CC BY-ND 2.0) Up next after the break: ViaThere are Bitcoin machines around the world but none on the African continent.Now, South Africa has a machine installed in a suburb of Johannesburg.The local population may need to be educated on Bitcoins, but local entrepreneurs Rolf Dreppe and Monre Botes wanted to push the envelope and placed their newly acquired machine in a friend's store, a business called Metroman.
The machine belong's to Dreppe' and Botes' company, Tremendis Learning.They partners hope to become South Africa's main center for Bitcoin vending.So, this Bitcoin thing doesn't look like a fad.It doesn't feel like a real alternative currency either, but the fact that it is reaching all the corners of the globe and that people are willing to dive into its acceptance suggests that there is something happen.We just don't quite know what.The Lamassu vending machine earns Tremendis Learning 6% of the value of each transaction, but considering the cost of the machine, it won’t be recouping its investment.It cost them about R75 000, including importation fees.“We are also looking at putting machines in Pretoria and Cape Town, but we will use a much cheaper model that costs about R10 000.”To get Bitcoin at the Bitcoin vending machine, consumers need to have a Bitcoin wallet installed on their smartphone.There are numerous apps available, but options include Blockchain for iOSand Mycelium for Android.