Bitcoin Powered Coffee Machine to be Created in Brazil

Creator says that bitcoin-coffee machine was created to study the potential of the market
18 June 2018   1768

The Brazilian businessman Ricardo Reis, wishing to demonstrate one more example of the potential use of the first cryptocurrency, created his own bitcoin-espresso machine. This is reported by CCN.

According to the businessman, he doesn't work directly with cryptocurrencies, but he has been investing in bitcoin since 2016. He also says that the bitcoin-coffee machine was created to study the potential of the market, and to show that the first cryptocurrency has various potential uses, including as real "programmable money."

I developed a device that powers the coffee machine with Bitcoin transactions to study and have fun. Dealing with technology, for me, besides work, is a hobby. My intention was not to create something to explore commercially, I wanted to simply explore the technology’s capability and show other people how BTC is ‘programmable money.

Ricardo Reis

BTC coffee machine creator

The machine starts when the bitcoins arrive at the purse connected to it. The device has a QR code that allows users to send money and pay for coffee.

As creator says, he used the Raspberry Pi processor and encoded the machine with PHP. At the moment, the coffee machine does not use the Lightning Network protocol, but in the future Reis plans to use this technology to create another device.

Wilshire Phoenix to Update BTC ETF Application

It's planned that the exchange traded fund will be provided not only by the crypto, but also with treasury bonds
17 October 2019   77

Wilshire Phoenix and NYSE Arca have amended the application for the launch of Bitcoin ETF.

The fund will be provided not only with the first cryptocurrency, but also with treasury bonds.

The custodian of digital assets will be Coinbase Custody. The company will confirm the availability of bitcoins in providing the fund within five working days from the moment of monthly rebalancing.

To determine the value of the bitcoins held, the fund will use the base rate of the Chicago Mercantile Exchange - CME CF Bitcoin Reference Rate (CMR CF BRR).

Wilshire Phoenix recommended that the US Securities and Exchange Commission (SEC) focus on the spot market for bitcoin, which plays a key role in determining its value.

The SEC has already begun to accept public comments on the updated proposal.

Wilshire Phoenix and NYSE Arca filed an initial application in May. At the end of September, the SEC postponed a decision on it.