PRESS RELEASE: Crypto Enthusiast Created an Electric Bicycle that Runs on Bitcoin and Litecoin

Crypto Daily Roundup – Oct 21, 2018
October 21, 2018
PRESS RELEASE: Sorry, I Turned Off My Bitcoin Faucet (Because Money)
October 21, 2018

The cryptocurrency revolution is growing at a rapid pace with new innovations around every corner. Recently a German cryptocurrency enthusiast Matthias Steinig just created an electric bicycle that runs on Bitcoin and Litecoin.

Scan the QR code

It operates quite simple, the user has to scan the QR code from the bicycle using an app then send payment to turn on the bike and its motor. The customer can pick from 3 options on the screen on the bike and then a QR code is generated with the price based on the time the user selects.

The program code is live, how to install description will come next

Currently, the bicycle is only a proof of concept. The bike is fully functional including the payment system. The idea is great but there might be some be some obstacles for the company depending on how they structure the system.

The programm code for the lightning-bike is online:

For now only the code, the INSTALL description is still missing and will come next…

— Matthias Steinig ⚡ (@leblitzdick) October 17, 2018

The thing with cryptocurrency is that the merchant can’t automatically charge the customer a fee for returning the bike late or not returning the bike at all. One solution maybe if they charge an extra $25 worth of cryptocurrency to be placed on hold which gets sent back to the customer after returning the bike. Nonetheless its very exciting to see innovations like this that support the cryptocurrency network.

Many other new innovations have come to the light recently including a soda machine prototype that accepts bitcoin payments and the launch of a new shopping app called Bitplaza which lets users buy physical goods with bitcoin.

Projects like these demonstrate crypto as an actual spendable currency and this adds value to the network. All this process is very intriguing to watch. It’s always great to see useful projects that benefit the network and keep cryptocurrency thriving.

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