Bitcoin Forum

I wonder if this place will get flooded with people this week.

https://www.youtube.com/watch?v=1TmPU3ii_uE

(before you try to scan the private key in the video, it has a zero balance ;) )

Remains to be seen whether they have enough supply of Bitcoins and/or if they will still be able to accept credit cards as these ATMs are usually also hooked up to an exhcange on the backend and will require Fiat deposits.

ahhh thats really awesome news ;) always is good to see things like that, the first, the beginning.

is sad what happened with greece atm, i know, lot of ppl start to speculate about it, but our lovely BTC will bring a bright of light ;)

ty for the link!

Good initiative. As the banks are closed and limits imposed, the ordinary Greeks will not be able to purchase Bitcoins with the money in their savings accounts. And buying Bitcoins in person is not safe enough. A BTC ATM was just what the Greek Bitcoiner community needed. And I hope that they'll install more of these ATMs across Greece.

Good news, the Bitcoin ATM's are realy easy to use although the one I saw was limited to just bank notes and not credit cards, very easy to use it actually surprised me.

Perfect way for the government to track you down when they force the ATM owners to disclose their logged information (because im sure they will log in ID data requested to do withdraws/deposits attached to the address used because I doubt this is anonymous).
I would use localbitcoins, can't trust those ATM things that require ID cards and whatnot.

Too bad that Greece still is in the Eurozone. If they had their old currency it would be now probably useless and people would turn over to bitcoin. Greece could be the first real country (I don't count fake countries like Liberaland etc.) in the world to massive adapt bitcoin on a large scale. But Euro is still strong so bitcoin will be still secondary choice for Greeks.

Indeed it is a good initiative but I don't think many people will be using it any time soon.
Now with the banks closed and the withdrawal limit set to €60 per day, I don't see many people rushing to the Bitcoin ATM.

But a good initiative none the less :)

It is the eurozone that is forcing Greece into bankrupty. If they would have had their own currency it would not be as bad as it is now. The other euro countries have chipped in to 'rescue' Greece. But all it did was rescue the multinationals and the banks so they could safely jump ship before Greece gets punished, roasted and put down by the rest of Europe. The last time this has happened it was the start of WWII after Germany went bankrupt..  :o

I don't think that ID proof is required for buying or selling bitcoins from this ATM. The ID proof requirement is only for the North American users (United States / Canada). And what makes you think that Localbitcoins is anymore anonymous? LBC frequently share the user profiles and stats with the law enforcement agencies, and this has lead to the arrest of many Bitcoiners in the US.

I don't think so, because Bitcoin is still fairly unknown in Greece (maybe because Bitcoin is largely incompatible with the pervasive socialism down there). Also, in order to get Bitcoin, Greeks would need Euro notes first, which are now in limited supply. I think in the current emergency situation they are better off with banknotes, because they can buy all their necessities.

It will become more relevant, when the Drachma has been introduced again. Then Bitcoin will offer a very good protection against inflation and a simple method to buy international goods.

ya.ya.yo!

I've already seen this BTM in another thread, but unfortunately it didn't have a video. Nice to see more BTM's spread around the world, but I do wonder if this one wasn't put there on purpose, during these times... :)

Anyways, by the looks of things, Greeks don't have money to spend there right now, as they can't withdraw from their banks...

I wonder why it took so long. You would've thought an ATM operator would've taken a speculative punt a year or two back.

I can't see it being a huge success right now. The poor old Greeks won't want to be giving up any scraps of cash any time in the near future.

with their economy crisis i doubt greece's people will care too much about an atm for bitcoin, they have biggest problems to think about

it should've done before, when the country wasn't in this bad condition, but maybe if the price skyrocket some faith could be restored and they will begin to use it in mass

As I had posted earlier, the lack of interest for Bitcoins have nothing to do with the Greek socialism. If socialism was the only stumbling block for Bitcoin, then capitalist countries such as Germany and the United Kingdom might have become Bitcoin hotspots by now. For the ordinary people, Bitcoin is too risky, volatile and tech savvy to be used as a form of investment.

lol BTC

I also wonder whether we'll see big cues like at regular cash machines. I think they could just go to exchanges online instead, though.


Well if they run out they can always buy more, which is good news for the rest of us #supplyanddemand

Come on, What's good news about that?

Let's say Greek people bought tons of bitcoins, Then what? Price goes up, Chinese miners dumps lots of bitcoins & price gets even lower.

What will they do with those bitcoins? Will they eat "paper wallets" or "hard drives" that they hold bitcoins...

Why don't you go there, use it, and realize that ID is not required. I mean why not at least ask..we installed this machine (BSpend and EasyBit), and all you need is cash. So why criticize something on pure assumption :)

it is needed because banks are closing and country imposed capital control restrictions

LoL. Some of the miserable replies in this thread are unbelievable. You can lead a horse to water...

Stop the crap.

The arrival of a Bitcoin ATM in Athens is an immense marketing opportunity for bitcoin to penetrate a little bit into the mainstream. It needs to get tweeted and virally propagated as much as possibly. Ditch your nonsense about privacy and socialism and start getting behind initiatives. Bitcoin has two huge areas of potential in Greece right now:

[1] - they're inhibited to use electronic money - everyone wants cash (FIAT electronic money that is)

[2] - if there's a currency reset then Bitcoin could save them from devaluation of personal savings

Here's the TinyURL = http://tinyurl.com/ochakml

Here's the tags:

#OXI #Grexit #greferendum #AlexisTsiprasn #Greece #Syntagma

All the world's press are on those feeds right now.

************* OK WE HAVE A CANDIDATE ************

Retweet this and lets get it to float:

https://twitter.com/TaoOfSatoshi/status/615663017217392641

************************************************

Does this ATM dispense cash ? Or only take cash for BTC?

I think that greece is going absolutely crazy at the moment.  I can't believe they're just getting an atm now though.  It seems like this was overdue by 6 months.

Heh, a good one.

It is needed as in Greece with the ATMs and economy collapsing, they also don't have access online payment systems and will have trouble buying bitcoin if they wish to do so. With ATM's I think they can just convert all their cash and fiat into bitcoins straightaway .

Has there been any statistics on how was the response at the ATM over the last week ? Certainly should have grown.

I doubt that ATM will have any impact or traffic because it seams to be placed in some crowded small shop or something similar.

Just like with anything else, location should be more than just a point of the business plan, and placing that ATM in the airport,marketplace, or on any of the bigger streets would be much
more preferable than sticking in where it currently is.



I retweeted that :)

cheers

LOL!  I wonder how funny the owners think it is...

Placement in a high traffic location requires money to rent the space which would require higher fees at the ATM which would discourage its use. Some Bitcoin user that has a small shop can easily add a Bitcoin ATM to their shop with a few thousand dollars.

Placing it in an airport not only requires a lot of money but also a lot of red tape with the airport and possibly exposure to some required currency exchange regulations that would easily be ignored in some small shop.

Good question.
If it's one way then one can only buy Bitcoins.
That is however IF they got cash because of the capital control and €60 per day limit.

If it's two way, then Bitcoiners might be able to get some cash if needed, now that the banks are closed.
That is however IF the BTM has cash :-/

since there is only one bitcoin ATM in whole Greece at a bookstore (http://coinatmradar.com/bitcoin_atm/527/bitcoin-atm-genesis-coin-acharnes-orizontes-bookstore/) it is not going to do have any big help for Greeks to buy bitcoin easily.
the bitcoin price looks seriously affected by the news though!

;D As Greece make bitcoin as legal and install ATM which is easy to use.Very soon bitcoin will succeed through out the world.Huge potential area for bitcoin is at "International Airport"and "Shopping Mall" .It wil make bitcoins more in demand ;D
http://www.coinfox.info/news/2256-greek-bitcoin-enthusiasts-installed-first-bitcoin-atm-in-athens

Best potential for bitcoin would be if it would be available to use it on normal ATM's, upgraded to support bitcoin as payment.
There would be no more need for new ATM's, and finding locations, user would just go to any "upgraded" version of ATM and make his transaction. I'm hoping that we will see this as an option in near future,
but to achieve it, bitcoin has to reach much wider audience than it has today, to force the ones fighting it to give up and join . Is this only a dream; probably, but it's also one of the possibilities, like 250$ once was.

cheers

Is there any fiat cash in the ATM though? :D

they don't have money to live and buy foods, you really think they will buy bitcoin, lol a bit pretentious anyway

none in greece will buy bitcoin for now, a thing like that is good only for rising the awareness about crypto, in general

The only use for it nowadays would be to transfer money out of country.
However, interesting moment to do this, I'd be curious about some usage statistics...

I believe I read that it takes cash and credit cards, but I'm not sure the credit cards are working atm. I will try to find where I read that...

EDIT: Forgot to mention - it's one-way also. See it in action: https://www.youtube.com/watch?v=1TmPU3ii_uE

It may only be in one store at the moment but that is how it starts, we just need to chill and give it time. In the end every country will have BTC ATM's and then it will continue to grow. Not sure that is the soul reason we have seen growth to be fair, it was growing before we got word of this. It is surly helping though.

That was a very smart move made by both the finishing end parties. It will be really helpful for the Greece citizens which are powered by the bitcoin currency. It will also be a nice way to show off how decentralised crypto currency is much better than the ordinary and how it is benefiting the society real time.

I don't think a bitcoin ATM will do most people in Greece any good because they can't even get more than 60 euros out a day I think. Maybe some will start putting that money into bitcoin but I still think doing that would be risky.

yeah it was a nice move but it is not even remotely enough. people would need money to buy and since they don't have access to their money because of the banks it is going to be so hard for them.
besides one bitcoin ATM is not gonna solve anything

when you bought BTC and sold your Euro, you now have ACCESS TO YOUR MONEY. you can sent it to any place on the world. you can store it in different assets in different countries.

maybe BTC price goes up 10% , maybe down 10% - BUT you have access to your money! (and when you dont want volatily, use coinapult or something like that)

NOW your are  F U C K E D  if you live in greece with 50.000 Euro on your bank account. good luck with that when you can only withdraw 20 euro per day - LOL!

and soon there wont be 50.000 € - there will be 50.000 New Drachme...

http://www.adpic.de/data/picture/detail/Aufhaengen_116992.jpg

People seriously need to educate themselves. There is never going to be a drop like we saw until now (probably). The price spike in $1200 was not real and even then you could have sold at a 50% loss 3 months later.
Nobody really knows what kind of effect this might have on the Euro or global economy, everyone is just speculating. Also if the Greeks go back to using Drachma, something like in Zimbabwe could happen.

Miners aren't your everyday Bitcoin user. They should know what they are doing and they aren't going to be dumping in huge sums.