Bitcoin Forum

http://imgur.com/a/XWYb2

Is it true or a Photoshop? why is it placed in some shop and not on a public place like normally atm are? if it is true it is very enthusiastic news I wish it become a normal sight in every part of world

only problem is due to the bitlicence, regular bitcoiners have fled away from new york for other states and countries.

goodluck with the fee's that will be needed to pay off the BTM owners licence.. :D

It seems to be legit.

I guess, it is very costly to place a ATM somewhere in a crowded place like New York City.
So, such little stores fit best to offer Bitcoin ATMs without having a big budget.

The company operating the ATM on Reddit: "To operate this business in the state of New York, we must comply with regulations. For transactions over $800 per day we must have an ID on file with a limit of $3,000 per day. The phone number is just proving that customers aren't exceeding the daily limits"

As stupid as it may be, I can somehow understand why this is needed. Just imagine the amount of illegal money that is going to go through these kinds of machines, giving receipts out and suddenly you prove of where your money came from.. Money launderers dream ;)

Great, another bitcoin ATM = more people using BTC :D

They have a lot of those. Not impressed.

What do you mean with "they"? Deli stores? I have not seen many evidences that there are a bunch of those ATMs in NYC.

How much are the fees it charges, and how does it decide what exchange rate to use?

If it's charging ridiculous fees like 20% it won't get many customers, but if it charges less than the other NY BTMs people will use it. Is it on this BTM map yet?

http://coinatmradar.com/

There are so many BTMs in New York that it's not easy to find if it's on that map.

Great bits of kit these.  even if they are not used they are still a great advertisement for the progress of bitcoin.  i used my first bitcoin atm a month ago, purly out of interest and to support the owner.  I find the price is usally abit higher which is to be expected i suppose.

the reality is that it would obtain personal details right from the start.. after all they need to find a way to prove someone isnt doing multiple transactions of $799 every few minutes multiple times an hour endlessly feeding the machine. as i can get a sim card for $1 and change a phone number once a minute....

Glad to see it coming to the real world, even if people don't buy too much from it atleast it will get people talking

Mmm, this is questionable, sure maybe I feel like this bitcoin machine was put in a lower-end Bodega which are plenty around this area just to acquire attention as someone who is familiar from the (East Coast) NY-NJ-Long-Island Area. Attention to bitcoin is one thing, but using bitcoin and conducting legitimate transactions are another.

Another Bitcoin ATM, installed on an area densely populated with Bitcoin ATM's... No need I think, they'll just compete with each other and ROI way more slower. And they do have to comply with a lot of things... So they charge ridiculous fees. Not sure on the fees of this particular machine, tho.

Let's see if this has movement. I see it moving to another place sooner or later.

I just found this information today through another method of search when we were researching rules and regulations for a business venture we are working on at this time.  I am not sure about this, but we are looking into this, but this lay may be something that does not agree with what the federal law states and because of this, if someone puts in the legwork, there is possibility that this may be overturned.  I read the law in full alsong with the revisions and it really looks like this was put into place to deter the use of Bitcoin and other such cryptocurrencies.

I've been to NYC and i've seen these bitcoin ATMs popping up everywhere in NY.

can you actually spend the BTC in the deli? or at any other physical store in NYC? it still isn't practical for the everyday person.

i don't think so, if someone want really to buy bitcoin, they can simply use an exchange, i'm sure thta anyone using an atm can also use an exchange easily

so this is not going to cut it in any way, adoption will not increase because of atm for sure

You sure about this? I would have thought with the Bitlicence requirements in NY, it would be better and more profitable to operate this from another location. If it is true, it must

mean that the Bitcoin community is flourishing in NY and there are a need for them. It's a pity it's stuck away like that, if they do not advertise it properly, it would go unnoticed.

Let's hope this is the start for good things to come in 2016 for New York.  ;)

It might not directly increase the adoption rate just because of a few ATM's, but if you install plenty of 2 way ATM's, it might attract people who are currently using Western Union. Who knows what will happen if these people ditch WU and start using Bitcoin instead. If the fee structure of these ATM's are user friendly, then it might happen.

it seem legit, but the last photo is not assured that its was bitcoin ATM,can you explain how to use the ATM? whether ATM can only be used to buy bitcoin? can not be used to sell bitcoin?

The last photo is a regular ATM. LOL at the comment below the photo: "Blunt wraps by the normal atm, cereal and ice cream by the bitcoin machine.. Coincidence? I think not"

Cool, but the fees are probably to high in order to use them. I rather use online exchange.

Based on that picture,i just wanna ask you something,how that machine work?
And why its placed on super busy place?
Anyway,great to hear that bitcoin ATM more accepted in every shops.

every corner of the planet will be in touch with a network of crypto, they will understand as it is profitable and convenient, and the world from the stone age go straight to the future
where fintech will come to each house and each able to choose for themselves the importance of and make decisions no longer make to raise their heads up

Don't know what planet you're from, but I have yet to see a bitcoin ATM anywhere and I live close to NYC.  Not that close, but close enough.  But I thought the laws regarding bitcoin in NY were strict to the point of not even allowing such a thing to exist.  Hopefully I'm wrong.

I've seen on the picture that the price was : 458.8$/btc

Is this picture taken when the price was on that level or does the ATM charge 8%?

It's CoinSource, they probably have their own exchange rate.

Is this the address?

New York City
G & G Deli
886 10th Ave.
New York, NY 10019

Time to get some friends over to that place.

I think it's their commission I mean service charge it's bit hefty but once they get competitors in the same domain prices will come down but this is the indication of gaining popularity of Bitcoin and soon it will become a trend.

Okay. Cool. I like it. I wonder if they have more.