These days, we hear so much talk about how Bitcoin is set to hit the mainstream and become widely accepted all over the world. It’s true Bitcoin is growing more popular by the day, but there are still concerns about its volatility.

But is that really a bad thing? Don’t all currencies display volatility? If you earn US dollars, euros, pounds or any other currency and have to convert that to your local currency, you know that each week, your salary changes depending on the exchange rate, much like Bitcoin. So let’s stop all these bull about Bitcoin’s volatility because any type of currency is volatile. If volatility is the number one reason why governments are so wary about Bitcoin and other cryptocurrencies then they should show the same caution when dealing with other fiat currencies.

But even though governments seem to be afraid of Bitcoin, that fear hasn’t stopped companies like BitPay Inc., which provides merchants an easy way to start accepting it.

Merchants love Bitcoin because the transactions are faster and cheaper. Dealing with Bitcoin means not dealing with banks and other payments services who charge high fees for using credit cards.

In Australia, there are now more than 1,000 Bitcoin enabled merchants, which includes pubs, salons, carpet cleaners and restaurants who enjoy catering to their geeky patrons, especially now that such transactions are becoming frequent.

“We expect to see mass adoption of bitcoins by consumers and businesses in the next two to three years based on the penetration rates of other digital technologies across established industries like the post, film and music industries,” Ron Tucker from the Australian Digital Currency Commerce Association stated. He added that Bitcoin has already surpassed Western Union in terms of daily volume of transactions and is now nipping at the heels of PayPal.

If you still think Bitcoin is just a fad, or if you believe you’ll never have a need for it yourself, check out these cool machines that could easily change your mind…

American Green ZaZZZ

American Green, Inc., a company that’s been legally selling medical marijuana in Colorado since 2000, has integrated Bitcoin payments into its ZaZZZ marijuana dispensing machine. According to the company’s President and COO Stephen Shearin, using Bitcoin to pay for your marijuana couldn’t be simpler. All you need to do is scan the QR code and wait for the transaction to go through and you’re done. ZaZZZ is said to be directed at consumers who are in a hurry or maybe a bit shy about purchasing dope.

Aeguana vending machines

Aeguana Digital Ltd., is creating a new breed of vending machines that are compact, modern, carry a huge display for ads, lots of bright colors for aesthetic appeal, and won’t accept coins for payment – instead, they only accept credit or debit cards and Bitcoin.

This new type of vending machine allows owners to track sales and stocks in real time with the use of an ethernet connection, WiFi, 3G or GPRS. To use it, just select the product of your choice, your payment method, and if you choose Bitcoin, it will show you a QR code which you scan with your mobile phone, and wait for the transaction to go through, get your item and the transaction is complete. By not accepting coins, the designers were able to make the machine more compact as it has fewer moving mechanisms inside. And of course, it reduces the risk or coins jamming inside and people kicking the machine just to get their money back :)

BitSwitch

Bitcoin Kinetics, Inc. is developing a horde of vending machines that can accept Bitcoin, including a fuel pump called BitPumper, a washing machine called BitWasher, and a ticketing machine called BitTicket which all directly accept Bitcoin payments.

These machines are not yet available, but Bitcoin Kinetics does currently offer BitSwitch, which is hardware that can be installed in existing gas pumps, washing machines and ticketing systems to allow them to accept Bitcoin payments. BitSwitch is available in Arduino, Raspberry Pi, and Intel Edison hardware. Add-ons such as GSM, Ethernet, Bluetooth, NFC, RF and WiFi can be added to the board of your choosing with the basic model that includes an Arduino board, relay, wires and power supply costing about $55.

photo credit: btckeychain via photopin cc