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 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.”
Russia Is Not Planning To Buy $10 Billion In Bitcoin
“This statement has no common sense. The Russian Federation — like any other country in the world — is simply not ready to combine its traditional financial system with cryptocurrencies.”Sidorenko reacted to the fake news reports from Telegraph where it was noted that Russia wants to invest $10 billion in bitcoin in order to mitigate the economic impact that is brought up from the US sanctions. The rumors emerged on Twitter where a particular user wrote that Kremlin has no choice but to invest in bitcoin and that it is the only way to avoid the harsh sanctions by President Trump. Ginko posted on Twitter and his post went viral after Telegraph wrote a story about it and lots of other websites just added their own touch to it. Ginko is known to the public for making such shocking tweets and comments after once saying that sham investment adviser Bernie Madoff is the real Satoshi Nakamoto. However, Sidorenko said that Ginko’s comments are absurd:
“Even if Russia wants to place its cryptocurrency assets now, it simply cannot do this. We do not have any mechanisms that would allow us to introduce a system: where these assets would be stored, which authorities would be responsible for it, which would be responsible for abuses and stuff.”However, according to Tota Kaliaskarova, the director of macroeconomic policy with the Eurasian Economic Union says that crypto could have a huge impact on the Eurasian economy.
Market Sees Red, Losing $1 Billion Overnight While Bitcoin Remains At $3,600
Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
“Similar to 2015, 2019 may be the year of accumulation.’’Another crypto researcher Willy Woo said that while a crash of bitcoin to $3,122 could lead to an increase in volume, it won’t show signs of starting of the accumulation period. He pointed out:
‘’Despite the technical setup that suggests bullishness is possible, there’s not a lot on-chain volume to fuel a prolonged up move. What we saw in the last 7 weeks was a spike of on-chain volume driven by volatility, coins moving to exchanges to trade. The initial volume spike false signalled a faster detox and an earlier end to the bear market, but in fact it was a volatility side effect. That move from $6k to $3k created immense trade volume, but it was in no way a signal that accumulation volume had begun.’’Until evidence for the accumulation of crypto assets shows up, there are still expectations of high volatility levels.
Scott Galloway Of UCLA Believes Crypto Will Get Worse In 2019
‘’VR and crypto go from bad to worse. AI fails to live up to the hype. 3D printing rises from the ashes. Smart cameras become a hot category.’’His assessment seems to be accurate but can the crypto market prove to be the odd one out? This can be so since many industries are really committed to the crypto sector. Companies such as Fidelity, ICE, and Nasdaq have funded at least five projects in the crypto space over the past year. Venture capitalist Jim Breyer even said:
“So many of the very best computer scientists and deep learning Ph.D. students and postdocs are working on blockchain because they have so much fundamental interest in what blockchain can mean. You don’t want to bet against the best and brightest in the world.’’
Join us on Facebook
- Russia Is Not Planning To Buy $10 Billion In Bitcoin
- Huobi Re-Launched As Fully Licensed Platform In Japan
- $1 Billion In Transactions Reported For 2018 By BitPay
- Third Audit Attestation Of USDC Stablecoin Reserves Released By Circle
- 21-Year Old Accused Of Stealing More Than $24 Million Worth Of Crypto
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News5 days ago
Bitcoin Hovers Near $3,700 As Top Altcoins Record A Mix Of Reds And Greens
Ethereum News3 days ago
Coinbase And Kraken Officially Supporting ETH’s Constantinople Hard Fork
Ethereum News4 days ago
$100,000 Reportedly Returned From Ethereum Classic 51% Attacker
Altcoin News4 days ago
Bitcoin Drops Below $3,600 As $5 Billion Get Wiped Out Of The Crypto Market
Altcoin News4 days ago
Major Swiss Bank Launches A Crypto Custody Solution Targeting Banks & Asset Managers
Bitcoin Scams3 days ago
New Torrent Malware Posing As Movie File Can Replace BTC & ETH Addresses: Researcher
Blockchain News5 days ago
Washington’s Douglas County Wants To Build A Blockchain Innovation Campus
Bitcoin News3 days ago
American Businessman Still Missing After $950,000 In BTC Ransom Paid