Bitcoin Forum

Felix Weis, who is also a BTC researcher, developer, and world traveler, successfully executing  this historic First Bitcoin ATM transaction on the Lightning Network on March 31, during the Lightning Hackday in Hong Kong!

https://www.investinblockchain.com/atm-bitcoin-payments-lightning-network-btc-investors/

Looks promising! Love that instant transfer of btc. Especially after experiencing transactions being held up in the chain for over 20 hours, im so gonna appreciate this Bitcoin ATM. Hope Singapore will be able to import these precious over soon.. Keeping my fingers, toes , and hair all crossed!🤞😁

Another historic step for the crypto world. LN really helps a lot when in terms of making fast transaction and bitcoin has gained a rating of "B" from its former rating of "C". I think more investor will come to Bitcoin once again with this kind of news.

Do you think there is a connection between the start of a bitcoin price rise and the succession of many good news? In these days, many good news are coming...

this looks like a very strange idea!
Lightning Network is more suitable when you want immediate payments and specially when you want to do lots of them. with an ATM you are buying bitcoin or selling it once and although you may prefer the speed of LN but it is still not a requirement specially when you are buying bitcoin from ATM machines with money.

I doubt it. This is positive news, but don't expect new investors to enter the market due to this advancement since many people are not even aware of the lightning network(Still in experimental phase), segwit etc.

Growth in the market volume and values will drive more and more investors over time.

Right, the volumes and the price trend are most important. But continuous positive development also helps. Don't underestimate it.

Agreed. I don’t use them but what we’re after is mainstream adoption so the more ATM’s dotted around the globe, the better.

the high fees of ATM machines is due to their unique type of service that they are providing and also because of the little competition that they are currently facing (there are only a handful of companies installing these ATMs and also there are few of them around in world). this will change in the long run and their fees will also come down, that is how the competition has always worked in business.

Candidly speaking, its a stepping stone to global adoption of Bitcoin and cryptocurrency in general and it should be commended. We all know how importance is Lightning Network to Bitcoin transaction. Hope its implement and executed in known distance time.

Sure we should take any positive news about bitcoin development as a sign that it will bring more adoption. The more positive news, the more people aware, the more investors may come to participate in this bitcoin world. Although I have to admit that I still unable to use bitcoin ATM because there are only few ATM in my country and all of them are located in some places which are far away from my city.
Hope to see more and more ATM's will be available here.

It is not that serious for buying but it makes the selling process easier. For example now you can come to an ATM, send a transaction from your smartphone and instantly get your cash without waiting for your transaction to be confirmed.
Not a super serious update but it makes the process a bit easier.

This is a speculative asset, so every news good or bad, has a effect on the ecosystem. But this kind of news has minimal effect though.


Good point. He just wanted to show everyone that it can be accomplished. But yeah, I'm sure the fees are very high. Show-off  ;D

this is very good with the launch of bitcoin ATMs with lightning speed, and I think this way will bring bitcoin more into a currency that will be valuable and increasingly advanced in the use of future transactions.

It lightning and of course it will enable instant transaction but there's some kind of statement going on that there's possibility that the lightning will destroy the legacy of Bitcoin since every Bitcoin protocol bc/1 have to do with mining while the lightning choose a different path. However , it might be a false statement though so people won't believe in the project just like how it happen during Segwit implementation.

Dont know much about how the lightning network benefits the use of bitcoin because havent given it much thought. But with the real world usage such as this will definitely garner more attention from anyone who uses these machines and hopefully will bring more research into how it does benefit everyone who uses it.

This is so cool! Seems like it could be pretty interesting if widely used in the future.

Instant transactions can be really good in case of extreme urgency or when you just don't want to wait. I still need to check carefully how that lightning mode works.

It might even be the future of Bitcoin. We now know that it is extremely useful for the Bitcoin ATM's.

Love it! The lightning network reminds me of DSL and Fiber Optic Internet.

The lightning network is going to make cryptocurrency transactions fun for everyone by making it more secure and by improving transaction speeds.

I cannot see the need for a Lightning Network enabled Bitcoin ATM? In my opinion the Lightning Network was developed to alleviate the congestion of on-chain transactions, by shifting most of the micro transactions onto a second layer off-chain solution.

I can understand the application for this ATM in an environment where there are loads of micro transactions. <Like in a Gaming arcade or in a brick n mortar gambling operation, where there a multiple micro transactions.>

Why do we need a Lightning Network enabled Bitcoin ATM? <Speed?>

I guess it could be useful for selling Bitcoin instantly, without having to wait at the machine for confirmations.
Dunno if that's currently the case when you're selling Bitcoins at those ATMs, I've never used one for that.

But yeah, kinda redundant for buying.

This is the proof that bitcoin in become wide every day. This is a good advantage of all of us because bitcoin us doing anything to be close to us to make our every transactions more conveniet ang hassle free. I think this will be a bridge to make bitcoin regularization and legalization because some commercial banks are already supported bitcoin.