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Brazilian Hacker Develops A Coca-Cola Vending Machine That Accepts Bitcoin

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In the latest crypto news, a Brazilian hacker is in the focus for building an actual vending machine that accepts Bitcoin payments and that is based on the Lighting Network (LN). Named Ricardo Reis, this computer programmer has been thinking of developing a machine like this for some time now.

As he explained his creation in a Medium post published a couple of days ago, the machine is actually a Bitcoin-enabled coke portal that used specific accessories to be built. Aside from his knowledge in programming and the supply of proper vending machine hardware that takes instructions from the user-interface, Reis also used the Lighting Network in order to enable faster and cheaper Bitcoin transactions.

Unlike many normal Bitcoin transactions which are recorded and verified on a public blockchain, the Lighting Network (LN) in this case adds a secondary layer to create a payment channel that does not require transactions to be confirmed by the main blockchain until the users close the channel. In other words, this means that users can make a series of the transactions without the miners’ confirmation.

Introduced by the cryptocurrency developers Joseph Poon and Thaddeus Dryja, the Lighting Network (LN) has been a great solution to Bitcoin’s slow on-chain transactions – and this machine is only one proof for it.

As Reis explained, the machine consists of a “Raspberry Pi 3 Model B, a Display 7″ Official Touch Screen Para Raspberry Pi, a Water pump RS 385, and a Bridge H L298N” in terms of its hardware.

When it comes to the software side, Reis has used Linux Raspbian in Raspberry Pi, Apache Server + PHP in Raspberry Pi, Wiring Pi (interface GPIO), BTCPAY as checkout solution, PUSHER as a web-socket solution, and HTML, PHP, Javascript e jQuery as applied programming languages.

When asked about the mix of software he used to create the Coca-Cola VM, Reis noted:

“In BTCPAY I create the invoice (payment button), so it generates a Lightning Network QR code for payment. I also set up a return URL (notification.php), which is the destination BTCPAY will inform when a purchase order has any changes, such as payment receipt.”

 

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Bitcoin News

JPMorgan Execs Seem Bullish On Crypto Following JPM Coin’s Release

Everyone that is following our cryptocurrency news section knows that the executives sitting on top of JPMorgan Chase are not the biggest fans of Bitcoin and take every chance to bash the dominant cryptocurrency. As the top tier in one of the largest banks in the world, these executives don't like similar cryptocurrencies too. Even though the bank is also distant on the nascent technology behind crypto which is the blockchain - they now appear to be in fact bullish on it - as long as they are the ones controlling it. We can best see this from a statement in a recent interview with CNBC's Squawk Box, where Ron Karpovich (Global Head of eCommerce solutions at JPMorgan Chase) said that the traditional banking system is intertwined with the world right now - and there is no true way around avoiding it. He also added that payments are not the most profitable industry, continuing:
“Ultimately behind the scenes, they [crypto companies] are going to have to use a bank to move funds. There’s more partnership instead of competition in that space… When it comes to margins and capabilities, payments is never something that grows in margin, nobody wants to pay for a payment…so you need highly efficient and large players.”
Karpovich also responded to a question regarding how far the eCommerce industry is from using crypto to facilitating payments. He explained that blockchain - the underlying technology of cryptocurrencies - will be used to facilitate payments behind the scenes. However, he also added that according to him, blockchain won't have a huge impact on consumers.
“I think ultimately you’ll find that the technology behind the scenes will be blockchain, I don’t know that you’ll notice anything as a consumer in that space. I think that you’ll still continue to use the payment type that you prefer, be that a wallet, a card, or a bank account,”  he noted.
When asked about his anti-crypto sentiment - which is somehow shared in the JPMorgan circles - Karpovich said that there is a difference between adopting blockchain and speculating on cryptocurrencies.
“There’s a difference between trading a cryptocurrency that’s in the market that’s ubiquitous, versus using the technology to enhance your payment infrastructure,” he concluded.
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Altcoin News

Bitcoin Is Close To $4,100 As Tokens Gain 20%

The valuation of the total cryptocurrency market cap has risen to more than $141 billion and is now reaching a new milestone as the market is improving. We are seeing green everywhere in the latest cryptocurrency news - with a focus on the most dominant cryptocurrency, Bitcoin (BTC). Even though Bitcoin has not recorded the biggest rise on the day, it is coming close to the $4,100 mark which is crucial for the cryptocurrency. The gains of 1% to 2% are repetitive for most of the top 10 cryptocurrencies which made sure to rise in terms of value and contribute to the growing market cap. By rising more than $1.5 billion overnight, the market showed that it is led by the Bitcoin price. Based on the global average, BTC has remained above the $4,000 resistance level for more than a week now - and tokens have followed with new surges of up to 20% on the day. Even though Bitcoin was a hot topic over the past couple of months for its inability to break out of the crucial resistance levels set in the $3,000 zone - it now managed to cross the $4,000 mark and is rising as we speak. The sentiment around the market is positive and is expected to improve, too. Earlier this week, some reports suggested that analysts still foresee the Bitcoin price testing its lows in the $3,122 to $3,500 range before a potential accumulation in the upcoming months. Even though we don't need to be so optimistic, the trend line is positive and since mid last year, Bitcoin has shown a pattern of experiencing several months of stability and then dropping largely afterwards. So, if BTC continues to climb up in the $4,000 and $5,000 range, the resistance levels will climb too. According to Anthony Pompliano who is the co-founder and general partner at Morgan Creek Digital, the institutional investors and asset managers that are likely to buy BTC in the long run are committing to the asset class.
"In my opinion, blockchain and crypto-related investment opportunities will be one of the fastest growing sectors in the alternative asset management space in the next 10 years. This means that every alternative asset manager will have to create a strategy to help their LPs gain exposure to the nascent industry," Pompliano said.
Aside from the greens recorded in the top 20 cryptocurrencies, the best performers on the day include the names of Ontology, Ravencoin, Tezos, Huobi Token, and KuCoin Shares - all recording gains from 12% to 25% on the day.
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Altcoin News

Mayor Of Chicago: Cryptocurrency Will Save Countries From Financial Crises

A new report featured in Forbes is in the latest digital currency news, outlining the statement of the Chicago Mayor Rahm Emmanuel - who was the former Chief of Staff for the President Barack Obama. As the post unveils, Emmanuel told a writer that the future for cryptocurrencies like Bitcoin is "affirmative." In detail, the Chicago Mayor spoke about the potential that cryptocurrencies have to play a serious role in the debt markets as well as the third world countries - especially where currencies can be unreliable. Even though Emmanuel does not know the entire operation of crypto, he remains positive that it could reshape the financial aspects of society. As he said:
“The trend lines are affirmative for its future. I don’t know if that’s ten years, and I don’t know if that’s 20 years, but it’s affirmative. I don’t know what it is. I know it’s an alternative way to trade, and therefore, I gotta learn about it, and I gotta be honest, as mayor, it’s not the top 100 things I would have to learn about.”
Emmanuel also noted that the nation states are falling apart while the "city states are emerging." This is why Chicago and other major cities have their own wage laws, some of them even have their own income taxes and many other different regulations. In times when countries like Iran and Venezuela are facing financial embargoes, cryptocurrency can be a possible way to maintain global transactions, according to Emanuel.
"Nation states are falling apart, or receding. City states are emerging, so the political structures we all grew up under are changing. One day, somebody's going to figure out - whether that's Argentina, ten years from now, five years from now - how to use cryptocurrencies to stay alive when their facing a financial crisis, and then you're going to find out that this moment has arrived," he confidently said.
To sum things up, Emanuel said that he believes that "an alternative way of currency dealing with the debt markets is going to happen" at some point in the future.
The trend lines are affirmative for its future. I don't know if that's ten years, and I don't know if that's 20 years, but it's affirmative. I don't know what it is. I know it's an alternative way to trade, and therefore, I gotta learn about it, and I gotta be honest, as mayor, it's not the top 100 things I would have to learn about," Emanuel concluded.
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Bitcoin News

Binance Enables Australian Users To Buy BTC At 1,300 Newsstands

Binance Lite Australia is the new platform of Binance launched in Australia that allows users to buy bitcoin at more than 13,000 physical locations around the country. In our latest crypto news, we find out more about this great news. The introduction of Binance Lite comes after the company TravelByBit invested in Binance in order to get closer to the users and to utilize cryptocurrencies at the airports around the country. The CEO of Binance Wei Zhou explained that this decision is extremely important for the company since it will bring new users to the platform and to the entire crypto ecosystem in a place where the government is supporting the blockchain sector. Zhou explained:
‘’Binance Lite is a simple site for users to easily buy bitcoin with cash at physical store fronts. This model makes it really easy to bring new users into crypto, starting with Australia, where the government has taken proactive steps to support the blockchain industry. Users won’t have to open complicated online accounts to start using the service.’’
The crypto market in Australia was a little behind than other markets in the world such as South Korea or Singapore because the banks didn’t support the crypto businesses in Australia. Back in 2017, during the strongest crypto rally, reports show that the larger Australian banks closed the accounts on multiple crypto investors. However, starting last year, the government of Australia began its proactive approach in regulating the crypto space and the blockchain industry so the investors are now hopeful that they could improve the market in the long run. Zhou also said that more than $5 billion in crypto was traded in crypto in 2018 in Australia and that since then the government is funding blockchain startups and companies by issuing bonds on the blockchain. The government has also started to accept crypto on airports such as the airport in Brisbane and even held a voting trial on the blockchain. He finished his interview by saying:
 “Binance Lite also completes a comprehensive value chain for the Binance ecosystem in Australia. For example, users can show their friends how to buy bitcoin from Binance Lite stores, immediately load it up onto Trust Wallet on their phones, and go on to spend this bitcoin in shops accepting bitcoin payments through TravelbyBit, the payments startup Binance invested in last year.’’
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