In short: no speculative positions.
The price of bitcoin is not all that matters in the bitcoin community. Developments in the protocol and particularly in the ease-of-use and security departments are extremely important, in our opinion, for the success of the cryptocurrency. A new feature for the bitcoin system, called Bitcoin Box, has recently come out. This is a kind of terminal that allows to process bitcoin transaction without the access to the Internet, we read on CoinDesk:
A prototype cryptocurrency point-of-sales (POS) terminal called Bitcoin Box can process transactions without the need for an Internet connection. Instead it relies on Near Field Communications (NFC) and Bluetooth to enable payments.
The device has been developed by Hive developer Jan Vornberger, who said the customer simply needs to touch their smartphone on the device and it completes the transaction via Bluetooth.
Vornberger explained the benefits of offline bitcoin transactions:
“So far, most bitcoin POS solutions rely on simply having the customer broadcast the bitcoin transaction over the bitcoin network. This can be unreliable, as sometimes the shop system does not see the transaction immediately, resulting in delays.”
We’re very much interested to see how this evolves. If this really helps in speeding up the transaction times, it would be a significant step forward as far as the ease of paying with bitcoin is concerned. One of the major problems with how bitcoin transactions work today, apart from the lack of vendors accepting cryptocurrencies, is the fact that confirming a bitcoin transaction might be a lengthy process, making it very difficult for customers to pay with bitcoin for goods and services just as they would pay using a credit card.
Even if the Bitcoin Box itself is not the device that will make bitcoin payments a lot easier, we can expect to see this kind of technology, or technology inspired by it used in other kinds of extensions to the bitcoin system.
For now, let’s focus on the charts.