Difficult to say how amazing it is... Since that hardware would be vandalized in a second
However I do actually work for a (different than this video) company creating a "thin client" type alternate payment hardware for vending machines.
Please voice your opinions on how you would like to see bitcoin transactions on a vending machine: (please indicate whether you are replying as a Machine operator/owner or as a customer)
Does the machine owner have to accept bitcoins himself? Or do you want it exchanged into whatever currency he usually gets?
How will the "real world" costs be payed for? Does the machine owner have to float a balance to pay for bitcoin transactions?
Is it acceptable to hold a bitcoin balance with a payment processor that is neither the machine owner, nor a typical exchange?
Thanks for the replies.
Regarding the vandalism, that whole screen component could easily sit behind strong plastic or glass... I think such a machine would be as vandalism-resistant as any other (except even more so because there wouldn't be a treasure of bills and coins to collect upon successful break-in).
Now, if I were a machine operator, I'd simply want an option to specify what portion of the btc should be converted into normal currency (and there are already services that do this). I assume all costs would be paid with normal currency for the foreseeable future. Any currency balance would be settled via a bank transfer once a week, and btc balance need simply be stored in a safe ewallet.
I think such things are not yet practical/profitable, but they are immeasurably important for proof-of-concept and their novelty value shouldn't be underestimated (like with the casascius coins). People often need to see to believe, and an American who sees he can buy his snacks with Bitcoin will have a far higher affinity for the new currency.
