Bitcoin Forum

Any see about the London BTC ATM that was pumping out £20 this morning? Does anyone know if it was faulty and someone got lucky or if they were just filling their bags cause they know something we don't?  ;D ;D

https://www.businessinsider.com/bitcoin-atm-spits-cash-london-bond-street-station-video-2019-6?r=US&IR=T (https://www.businessinsider.com/bitcoin-atm-spits-cash-london-bond-street-station-video-2019-6?r=US&IR=T)

It didn't happen just this morning but it's already 5 days ago. It's posted on reddit so if you haven't seen it there, here it is:

https://www.reddit.com/r/Bitcoin/comments/bxhypk/bond_street_bitcoin_atm_spitting_out_tons_of_money/

Just like $1 to $5000 in 10 years, the bitcoin ATM machine is giving money to people.

That’s crazy, lucky to those who got the money early that’s an easy money. I think this is a very rear situation, and if this thing happen to me for sure I’ll get some money and got so nervous. That was system error for sure, and i don’t think its intentionally done by someone, that BTC machine should be pulled out or else it will happen again.

I don't think that the guards allowed people to get closer, you can watch the video and see two guys stopping people from getting closer to the ATM because they knew it that everyone will pick it up and just go away.

At least, only one guy was close to the ATM and he's just kicking those spitted money and compiling it to the bag. You shouldn't do that if you are in that situation, just remember that it's not your money and you don't own it.

We don't really know who is that person in that video.
Who knows, he's assigned to collect those money or might be another bitcoin prank?
Or the machine had a system error because btc atms are not yet fully robust in nature.
But not everyday you can see such BTC atm spitting a lot of money.   :D
So it's a good way to attract attention from people around that area and at the same time promoting the existence of bitcoin, right?

Easy money yet youll kinda feel bad for taking it,if you look in many different ways its still a sign of stealing money thats not yours even if the cause was an accident/malfunction of the machine.Taking money from broken machine is no different that stealing on banks

Well we will never know maybe it was a public stunt to promote crypto or the machine really did have an error.
After all how would they know it right away or maybe someone already get some money out of it before they came?

Awesome money rain. Ahahahahaha

Strange public stunt if it was, never heard such. Of course, its a machine error, obviously.

Maybe you don't know so I'll tell you, AFAICT such outdoor or through-the-wall ATM has always guard on it or some surveillance camera so anyone who's incharge will know that eventually.

Well, if it was one guy, they can't exactly prove that he was stealing anything. While it could arguably constitute as theft, chances are he can get away with it if he has an IQ above three digits. If he withdrew/sold enough Bitcoin to the ATM that it stroked out and just started spitting money, he could argue that he didn't know when his withdrawal ended and where the error began. He probably clued in later, which is why they know that the machine bugged out, but it'd be a lot of effort to go and recuperate the money which was lost. Depending on what the final loss was, it might be worth that effort.

Considering the ridiculous fees that most Bitcoin ATMs charge, I don't think that I'm necessarily against this.

haha nice one, have you tried it? I've seen ATM as well here in Sydney. Quite cool haha.

I'm sure that it was just a machine malfunction. Lucky are those who got a great amount due to the malfunction occurence but it's still a lost at some point. If it's unintentional I think the machine is to be blame.They still have to fix it to function normally.

For sure those people who are in there are always keeping the eye on the ATM. They've got a lucky day. I also heard that this incident is still happening is that right? The ATM manufacturer should be in the action because there should be a cause of it why is it spitting cash. The article is not that complete to me cause to me, the authority should be in the action in the meantime.
Maybe the other BTC atm in the world is also experiencing this? I just hope it will be fixed soon.

I wish we also have a Bitcoin ATM so we could take the chance to withdraw and earn a huge amount of BTC just like what they're doing. They were so lucky if this incident is still occurring until now at least they know how to take this opportunity and get a great amount of BTC.

Exactly, this is just a glitch and I'm sure that the ATM manufacture has already taken a serious look at to what really happen. And about those people who has the intention to pick it up? Nah, I would rather look, you don't know maybe they have monitored it already and you might be identified as 'stealing' the money.  :D

Yes, I saw that, and I wish I could be there ;D ;D That bag of money and that money flood...How a machine can be so wrongly installed? it's really horrible :o

I think something went wrong in the machine that's why it's spitting a lot of money. If so, then the guy shouldn't get it coz it's a form of stealing. One of our bank who support cryptocurrency has build btc ATM but i haven't try it personally. Hopefully there will be mass adoption here and hope they make lots of BTC Atm.

It is one of three things :

1. The machine got hacked - Someone managed to find a way to hack the ATM and was just showing off.
2. The ATM malfunctioned - The hardware or software malfunctioned and it pumped out money like crazy!
3. It was a publicity stunt - Something like this will draw a lot of attention, so the company who owns this machine did this on purpose to draw attention to the machine.  :P

In any way, it did draw a lot of attention and I think a lot of people are sleeping next to that machine in the hope that it would do this again.  ::)

yeah, I saw it yesterday when a newbie posted a Reddit link I found it funny Reddit Video of BTC ATM Spiting Money (https://www.reddit.com/r/btcgrinders/comments/bxs5l7/bond_street_bitcoin_atm_spitting_out_tons_of_money/). Enjoy  ;D

Agree with Kakmakr, I read one of the stories online (actually this was on Friday I think actually) and the same ATM machine was just post online in last month showing a malfunction.

So it's most likely an ATM machine that keeps malfunctioning. IF it's publicity, then the PR guy is bad. 2 bad events happening in 2 months? Not very good marketing!

Indeed, what you say is true should do a wise thing not to accept something that is not his right because of a system error. but it is indeed very difficult to unite perceptions not to do things that are forbidden if someone has overtaken them. most of them follow things that have already been overtaken.

Try it on you own risk, because like BTC ATM in London went crazy, same could happend while you will be trying it and it will withdraw everything from your account :)

Just to balance "World's amout of deposited-withdrawn"

Why will the ATM manufacturer make such a mistake? I hope the vendor got compensated for the dispensing error. Like someone pointed out that it was 5years ago. I hate loses but sometimes it's inevitable.

There may be many causes for this, because after all, every bank that has provided an atm machine has paid attention to the good and the bad before doing so.
may need to wait for the latest news about it because it doesn't seem reasonable to happen without any cause. but you may also try it and can provide further news here.

British people are always lucky.Can't anyone just fix this ATM?The owner must find out about this.
There must be some sort of tracking software that tracks all the transactions executed by the ATM.

I see the news on TV earlier, they say that someone try to withdraw a larger amount of money than ATM allows but i think the main problem was a software problem.

That is crazy. I have read the news 2 days ago, and it seems like this is just this time. unfortunately I can't take advantage of such an event, because I don't have a bitcoin ATM. Blessed is someone who has got results, of course with the hope that it will repeat itself. But I don't think it will happen again as a machine error.

Similar thing happened in China i think.  Guess the atm got faulty with either hardware or software issues.  If it was a hack by someone, guess he/she should be receiving the money instead of letting them fall on the floor

i agree it possible a stunt to get attention or someone is taking advantage of them

Yes it only have three reason but if it was hacked then they better find the culprit because he/she could do it again.
And if it is ATM malfunction then those who have seen it before the guards came are lucky to get an easy money.
And if it is for public stunts then it was a huge success but a bit of a negative effect for Bitcoin ATM machines.

Yes, that guy could be the person who's withdrawing at that moment when the problem occurred. That's really a lot of money that's being spit out by that ATM and the problem must be accounted to the manufacturer and not to the person who's probably withdrawing.

When that happened? I don't think that it was hacked by someone but the issue could really rely on the those two, software or hardware problem which can be addressed to the manufacturer of that ATM.

^^
If this happened in the states then those who are seen taking and picking up the money on the street would be arrested by the officer. It is a criminal offense to take money from these machine even if they malfunction and start spitting out money.
Same thing happened a while ago with an armored truck with its back door opened and it was sending money flying in the air and people on the highway were picking it up. While there were police on the scene they were arresting those who were taking the money and trying to run off. Little did they know they were caught on the police cruisers mounted camera and they tracked them down by their license plate and made all the arrests. Because they consider this stolen money as if it were someone robbing a bank even an atm is considered bank property.

It was fun watching the fancy behaviour of people with BTC ATM in such a situation. Hope they already found the reason behind the hack and it gets fixed by professionals. Maybe that is the reason why big governments don't want a BTC ATMs.

Hacked or malfunction, I don't think this could be a good publicity.

4. Could be Jesus, check this: https://www.youtube.com/watch?v=6oAqOFz6QsU&t=150

Yeah we can see in the video that they are being stopped to get nearer the machine and I guess there’s a hack or malfunctioning that happen since that’s rare occasion of spitting money for no reason
I believe that guy who gets bagging the money will surely hold for questioning or may face case accordingly if he didn’t return back the money dispensed from that machine

true that, i don't think this was a malfunction, such machines are designed very well, especially when it comes to spitting out the money to the people, but hey - everything can broke down sometimes, and there's nothing we can do with it.

I'd rather say it was somehow hacked or damaged by purpose by someone who just wanted to amuse us ;d

I don't think that he has that kind of intention. He's even laughing while kicking those money near to the bag and I don't think he owns that bag. There's a security guy and a person who's out of his mind will pick up those money using his hand with clear intention.

But with that guy on the video, I don't think he has.

If the withdraw came with Euro 20 notes.You needed a bag for carry for even one bitcoin.EURBTC now rate is 7280.So he withdraw one coin its 364 notes.He came with a bag pack to collect his money.May be he had a experience that money will came as min value notes.Bitcoin you make the gossip headline today.

I don't even want to read this news, because I think this is only a technical error on the ATM machine. Because not everyone knows and benefits from events like this. Then what made a scene? I think there is no. :-X

Why would you 'take advantage' of such an event? Even if such an error (or whatever it was that caused the machine to freak out) happens again, it's not your money. It belongs to the company behind it and you are even committing a crime if you keep the money. It's called theft, regardless of how innocent money laying on the ground may seem to you.

How would you feel if this was your ATM and thus your money that people were picking up off the ground? You would want them to return it to you, right?  ::)

Bitcoin and its services are badly managed. Anonymity is helping scammers and criminals run away with the crimes. Bank ATMs are a huge network of computers and secured technology

This incidence is clearly due to the faulty nature of that very ATM, and such cash is not meant to be taken by anyone as the cash was spitted out of the machine due to fault. I know such incidence will not happen again as measures will be put in place to avoid a reoccurrence.

You didn't read it. Nothing was wrong and the guy who came to withdraw brought a bag for the money. He was expecting this much cash but didn't expect the money to be spit out of the machine that fast. He wasn't able to grab all of them so some went onto the floor.

I guess since localbitcoins dropped cash he chose ATM and caused a scene. :D


Too lazy to read the article but not to write a post?