Bitcoin Forum

This is the biggest News for the adoption of bitcoin.  Time for bitcoin everywhere.  :)



Source: https://dailyhodl.com/2019/11/26/largest-shopping-mall-operator-in-the-us-goes-all-in-on-bitcoin-atms-for-holiday-shoppers/

Having the Bitcoin ATMs there is all good and well, but if the people are just buying to spend it at merchants that would convert it to Fiat, then it

would have zero influence on the price. True adoption needs more P2P trades without these ATMs adding high fees for the transactions. Do not get

me wrong, I am not saying it is totally bad for adoption... I am just saying that it is not the ideal method to put bitcoins into people's wallets. Now

the shops in the Mall should just give extra discounts for people paying in bitcoins...then we will see good adoption taking place there.  ;)

problem with these kind of news is that its old and it doesn't affect the price now no matter how much adoption it promotes. nothing new to these news, we can't even verify its truthfulness. but congrats to the mall.


i find it good to actually have BTC ATMS and allow people to have btc in their wallets but at least the ATM will put some information about how much money they could potentially profit is they hold BTC and spend cash instead.

I don't think bitcoin is fit for this situation. transfer fee would be too high for a small amount of money, other kind of altcoins would be great.
anyway, things are going wild there. happy to see cryptocurrency's being applied

It can be great that something like this can pop up and it will be pretty convenient if anyone would want to buy anything or if they are needing money to buy for an emergency but in my opinion, this is not the right time of the year where the price seems bearish at the moment, this would just encourage people to waste and not hold Bitcoin and furthermore tempt them to used their hodl BTC,

But we can see that adaptation for this kind of transaction and currency is pretty much OK with me I guess the timing is not right it may gain curious people to get to know Bitcoin but it may force Holders to waste Bitcoin at the same time, now that we are in the midst for a holiday season.

That's actually massive, I would have never expected malls to take a gamble on bitcoin-related services for the Black Friday/Cyber Monday specials, there's going to be a crap-ton of sales anyway, and I guess they think that the extra crypto payments will cover the fees.

Although... I'm curious to see their reasoning behind it, I personally have a theory that they are going to charge huge spreads, and attempt to profit off a possible price pump + their outrageous fees that they are going to be charging. There's something with crypto-currencies, where paying a 5 dollar fee on a 100 dollar item sucks, but paying an extra 0.00048 doesn't sting as much, must be psychology.

Segwit address can take care of the high fees but there is also the problem of block time.
People won't like to wait for 20 minutes or so just for two block confirmation of the transaction.
ETH would be a better choice for it.
Still, it's a step in the right direction.

Great idea by them. While this is a step forward in adoption it can be a step back in price. They are giving people another easy way to convert to cash and the more such spots the more people will try them out selling their coins to gets some fiat money for Christmas shopping.
I started to see this adoption process going forward a couple years back when ATMs begun to appear even in more remote parts of my country. One day I'm walking through a shopping center and there's a Bitcoin ATM there. It's amazing because most people didn't know what Bitcoin is 2 years ago and there were people willing to invest in ATMs in an area where maybe 0.5% of people own cryptocurrencies. Wish I was so bold.

I don't think bitcoin ATM's need to affect the price in order to have a positive effect overall.  But malls in the states are really dead and have been for years.  Everybody does their christmas shopping online these days instead of piling into crowded malls.  They'd rather go to the big box retailers, too.  Malls don't really offer much of anything in the U.S. anymore, so even tho I'm happy to see bitcoin ATM's in more places, I don't think this is that big a deal.

If those ATM's were in locations like redbox machines instead of liquor stores, they might get more usage.  Anyway, interesting article.

This is a big step, because whether the ATM's gets used or not, surely it'll create some people begin their crypto journey. This means in someway it serves as a way of promoting bitcoin. ATM usage keeps shrinking in other countries, which shows it won't be used much. Maybe the scenario could be different here. And this doesn't any impact over the price of bitcoin, this is just an additional gateway provided for the users to pay. Better is the stores on the Mall getting into direct acceptance of bitcoin for their products and services.

If you'll be doing transactions below $100 I can't recommend you using bitcoin as a payment method but if you'll be doing big transactions on mall specially on a shopping trip bitcoin would really benefit you because sometimes people tend to exceed their credit cards limit for a transaction so bitcoin would be beneficial for that.

Nevertheless it's a great move towards crypto adoption. If you happen to have just crypto no cash than it'd be cheaper and easier to pay in crypto than to convert it to fiat to pay.
Transaction fees can be lowered using alts, lightning network or internal transfer like that within coinbase mail.

I don't know where those malls are, and the article doesn't say unfortunately--and I may or may not google it, because I don't shop at malls anymore. 

Awesome that these ATMs are popping up and I hope it isn't just a holiday thing.  My own experience with the one ATM near me was horrible, unfortunately since the machine malfunctioned when I tried to buy some bitcoin.  I do hope these ones at the malls work properly, because it's a frustrating experience when the process doesn't work.

And yeah, giving bitcoin as a gift would be an awesome thing, but it would be even better if you could give it as a kind of paper wallet gift card instead of just loading it into someone's wallet.  Obviously there would be some security issues with doing that and I don't think it's feasible, but the gift idea is still a good one.  Hell, I'd love to get some bitcoin for Christmas or my birthday or whatever.  It's just not the kind of present that can be giftwrapped and unless you know someone's wallet address in advance, there's no way I know of to give it to someone--and it wouldn't exactly be a surprise if you have to ask someone what their bitcoin addy is.  Anyway, good stuff here.

In my opinion, news like this is needed to make the popularity of bitcoin rise. And can make mass adoption quickly. America is indeed
the right target for deploying ATM machines, because its purchasing power is good compared to other countries.With the sight of a
bitcoin ATM machine seen in public places, especially in malls, it makes an indirect bitcoin promo. And really surprising now over 130
convenient Bitstop ATM locations, and will continue to grow every month. This is really true will attract many new investors. But
unfortunately the use of bitcoin ATM machines is still avoided by some people, because of the cost transactions are quite high.

Good to hear and read about it in Google as well. Bitcoin ATMs is good for shopping, etc but the transaction fee is very high in ATMs. Rather than spending all the Bitcoin better if they hold because right now there might be a dump but in 2020 it might increase higher and higher hope for the best.

Be smart enough do not spend bitcoin more.

I think this is one of the advantages for us bitcoin users because currently digital technology is increasing among countries and of course it is very easy for us to shop because now it has provided bitcoin atm in several malls or in other shopping places like in Japan which almost completely they access their bitcoin through atm.

In that case, it doesn't necessarily mean that people and users of cryptocurrencies should use bitcoin in every transaction inside the mall. They can withdraw and deposit using bitcoin but use other cryptocurrencies in terms of transactions. It will be like taxes for the amount of fees that they need to pay using cryptocurrencies such as XRP and Ethereum. At the same time, you utilize not just bitcoin but other cryptos as well, thus might provide more crypto adoption for others.

Good news, indeed. Just think about all those eye balls taht will get in touch with the Bitcoin sign. A lot of awarenessa and who knows - maybe some of them will actually go ahead and buy their first bitcoins if they don't own some already. ;)

I wonder if there is any statistic showing the number of BTC ATMs vs Cash ATMs in the mall. haha

what do you mean by OLD NEWS?you are looking for a faster effect for the price now?do you really know what you are saying here?this is not to make effect instantly if thats what you wanted,besides most people will; have just curious of what this is alla bout and may consider trying soon.
how come that the company can speculate how much people may gain if they hold BTC?are yopu really a legendary?but why it seems that you dont know what you are talking about?volatility is what will hinder us to know how much exactly might be our profit or even the losses.

I do not have any such bitcoin ATM in my country but i really eager to know how these bitcoin ATM will work. Obviously, you will get Fiat from these bitcoin ATM. So does the ATM machine automatically converts the bitcoin into fiat and give is the paper currency ?  Also who get those bitcoins, The government or banks who installed that ATM ?

Such ATM should stand in any large mall, all over the country.

It can be only possible where the bitcoin is legal. You cannot expect to have bitcoin ATM in the countries where bitcoin is illegal.
Secondly, once the big malls have such facility, then eventually it will be adopted and we will see these ATM everywhere just like we see the banks ATM all over the world.

Well, the effect on the price should not concern us when we are talking about adoption. As for the argument itself, I think that trading is not as good as people trying to actually buy stuff with Bitcoin. And yes, it's sad that they have to sell their BTC for fiat for that. And come to think of it, if many people sell BTC to spend money on Holidays, the price is likely to go down even. Anyway, ATMs at least show some recognition that people might have money in BTC, which is not bad already. But I'd prefer something like PayPass for BTC instead, of course, as this way unnecessary transformations into fiat and fees could be avoided.

Placing ATMs would not get adoption rates high, but at least it catches the attention of people who will be out and about the said mall. It's a good PR stunt for the mall and the ATM operator knowing that it's a win-win situation for both of the parties. However though, the mall got the most advantage since we don't know whether people will actually use those ATMs for once or not, but the mall would still receive the rent for the stay of these machines.

Either way, any publicity is good publicity!

Shopping mall ATMs and their added fees. No thanks for getting fleeced. The worst possible way to gift some Bitcoin for the holidays.

Yes. The important is with the presence of btc atm machines, people will now be more aware that bitcoin is legit and it should be use as a currency. This is a really good exposure of bitcoin especially that a biggest shopping mall in a country is catering to that. Hopefully this movement will be followed with other countries soon.

Basically, if the people could see the ATM in a mall then it will surely induce adoption in the market. I've been first curious about bitcoin when I see the logo of it and the information from it from my friends. In that case, I pursue adopting bitcoin knowing that it could be a great investment in the future. If people spot a bitcoin atm, then they will surely start to be curious and look for the information about it. Plus, if they ask us some question about it then we could provide them information about it to encourage them further to adopt in cryptocurrency.

Yes, this is really cool news for bitcoin, I read about it at neironix, though these ATMs are not very profitable in the plan of commissions, and they are very limited in terms of cashing out bitcoins into banknotes, I think that on such a day with discounts they should be emptied to $0.

In the current situation, this isn't perfect at all, since the price is not passing a good time so this time is not for Bitcoin adoption for the mass level, on the other hand, Bitcoin transaction should be a more easy process in a short time. if you provide a lot of facilities for the Bitcoin adoption then it might be effective but with the current situation newcomer will not get satisfied both price and market, so only ATM and Market are not enough to get popular around this country, but the initiative should deserve credit to bring into the light of this system in public for the mass adoption.

So are they going to install bitcoin ATMs on that mall for holidays like black Friday and Christmas? Well that's actually a great strategy for both company. Bitcoin users might be able to use it while shopping. As well for the ATM company, installing it during holidays is a good strategy to let more people notice bitcoin ATM. That's actually a good promotion strategy.

The news is great, but if there is a clarity about the transaction and the conversion charges and their commission to purchase the coins through the ATM then it would be great and we can come to a conclusion whether this is installed to boost BTCitcoin or to get news attention. If you look at charges these ATM machines charge you will understand that you are not going to get the coins like we used to get from exchanges, bank transfer is more convenient to purchase through exchanges rather than going to an ATM.

I just hope that the fees are not too much for what you pay for, because if so, it might discourage newcomers to Bitcoin in investing and using it, because their first impression is that it's much expensive to buy versus its market price.

Still though, if this would pull off, then most likely, stores and merchants inside the mall would soon follow the trend and adopt too, making the Bitcoin ecosystem and community alive and would really be used as a mode of payment rather than a speculative asset. Volatility won't matter if they make a system that would convert Bitcoin instantaneously upon recieving to fiat, eliminating possible loss of value from holding.

People tend to spend more than usual during holidays, so I expect people use those ATM mostly to sell during Black Friday and Christmas.
On the other hand it's good for advertising and exposure and most probably they'll buy back at a later point.

Although Bitcoin can be an interesting gift, I don't expect people that buy from ATM make/get gift card - like paper wallets for presents.

During the holidays, the banks and also local bitcoin exchangers are usually closed and hence having a bitcoin ATM is a blessing for those who want to cash out bitcoins during the holidays. I will someone may publish the list and location of all the bitcoins atm's in my city.

Finally, a mall that accepts cashless transactions.
 I know it's just for a moment, but if feels good seeing people adopting bitcoin, it is a step forward

ATMs are just like a middlemen. One goal of crypto was to make p2p fund transfer possible and eliminate the middlemen.
ATMs are in some way destroying the crypto objective in some way. Correct me if i am wrong

US regulations regarding Bitcoin ATMs and their use are indeed legal and can be applied everywhere.
Simon Mall's existing strategy in the US is a new strategy to attract the interests of the US people to shop by exchanging Bitcoin at Bitstop.
This is to welcome the Black Friday Event and Christmas Day.
But in several other countries, Bitcoin ATMs still don't get clear regulations, even transactions using Bitcoin are still not legal.
Bitcoin is currently only used for price speculation and to profit from any fluctuating value of Bitcoin.

I wouldn't call this the "biggest news" though. US alone has more than 4000 Bitcoin ATM but it didn't result to the mass adoption because fee's using this ATM's are still very high. Although it makes people curious and might try to used to it. Maybe the people behind installing this ATM's in the biggest shopping mall in the US is to take advantage of curious US buyers and of course to make profit out of this holiday seasons.

This is certainly a  good news in my opinion, the most important thing is seeing this ATM growing in numbers in every possible Mall that can attract the attention of many people, this may not result to mass adoption like some members are saying but it is heading to a positive direction, having a btc atm in malls for swift transactions is definitely important for more awareness.

Some people decide to just buy bitcoins without necessarily spending them and an ATM provides them a way to do it locally and semi-anonymously, without going through an exchange.

If you're holding for the long term and don't get small value (or max out what the ATM allows), then the fees should be little concern.

This is understandable, but still the news is very happy.The process of accepting bitcoin is gradually going in a positive direction.And do not wait for the price increase, it will be enough if everyone uses bitcoin more often and not fiat.

This is true. I see btc ATM machines as a big waste of time. It is much easier to just have a QR code at checkout. You could print a qr code onto the till slip for those customers who are using bitcoin to pay with.
It is very cheap to accept bitcoin. An ATM is a huge machine and it has to be filled with fiat which as you say defeats the purpose and does nothing for the price of bitcoin. I would give extra discount if I ran a shop and people used bitcoins. :)

This is actually a nice way to introduce bitcoin to people who have no idea what it is and how it works. Introducing Bitcoin ATM there will increase the curiosity of people to know what it is and how is it different from another payment system. Others might see the Bitcoin ATM as a big waste of time but personally I think that is a good way to increase the awareness of Bitcoin.  Bitcoin ATM will be a physical representation of Bitcoin.

On the other hand, people can easily cash out bitcoins on holidays and while shopping on the malls. Yes, they will pay the fee for this service, but that is how is works. It will also increase the awareness of bitcoins among the people. I really like this idea of Bitcoin ATM.

If the adoption of Bitcoin with ATMs has good enthusiasm, then you don't need to worry about the risk of falling prices of Bitcoin. Because the possibility is very small. Please note, there must be a withdrawal limit at the Bitcoin ATM. A little exchange with a limit will not greatly affect the price.

Bitcoin's ultimately hindrance for adoption is its limited supply if it weren't for the 21 million total supply bitcoin could easily be a part as one of payment processor in any big businesses without the risk of affecting the price through converting btc into fiat, without btc users having to worry with those fees. I guess for now btc should be treated as an asset not a commodity that should be carelessly spent.

...And this will work until the cash from those machines gets depleted, which I expect to happen quicker than for the old style ATMs.
And for a list of ATMs you can always try https://coinatmradar.com/ ; I don't know how much up-to-date it is around you, but .. it's more than nothing.

But how long can you preserve bitcoin as an asset? Most of the users tried doing it and those who did that before 2017 got a great return during the period of bull run but what about those who have invested at the bull run? few of them cashed out and rest are just waiting to cashout and I think it depends on individual based on their needs if they will preserve it for long term or else just wanna cash out during the peak. Bitcoin was created for peer to peer transaction but turned into an investment due to it's growth.

ATMs are usually maintained and replenished with fresh bills or bitcoins as needed. If it's a "sell only" type of ATM where you can only buy bitcoins but not cash out fiat, then it just needs a big roll of whatever paper it uses, or it sends to your own wallet address that it scans from your phone or paper or whatever.

That's good news to be honest. I meant when you're seeing cryptocurrencies have been applied in such a biggest shopping mall, the only little problem is paying miner fees which are they quiet low now but it can affect when the things that you'll buy are cheap, but it's whatever it's really a good thing to promote bitcoin and many people will use it in the malls, even for people who don't know bitcoin, they'll have an idea about it at least.

This is continues development of the space and a sound way of telling the public that bitcoin is alive and doing well. I just love bitcoin steady and continues movement to the mainstream despite all the FUD from the haters of decentralization.

This doesn't make sense. Wouldnt it be better to just accept bitcoin directly? Why use an atm? The fee will probably be high and im sure the stores would be happy to take the fees off your hand just by spending bitcoin directly with them. Or is ot the whole integration that is a problem? Surely it costs less to have a payment processor set up to process and sell the crypto these shops get for fiat if they so desire? An atm is costly and you need security so people don't try to rob the atm. You have to restock it as well. So again I ask, why waste the timr on an atm?

Well, business is business for them, for sure they will find ways wherein they can benefit more or they can earn more and in this way they found out that they can earn thru fees,so why they will accept directly right, still it's a positive sign that they know how many people are in to crypto in their place which still a good thing and has advantage for all of us.

Each day we are seeing more and more adaptation into cryptocurrencies.

No wonder price went up again in few days from the recent ~$6k
I am so optimistic in seeing way more of these functionalities in the real life which brings attention to maybe government making it an announcement sooner or later.

As if every country will start using it in many more ways.

not because there are bitcoin ATM's meaning we can expect growth in prices,yeah this is good for progress but it is only when people uses this ATM .

here in my country there are 2 BitcoinATM though banks now are offering crypto withdrawals also.

but these atm's wasnt used by many instead they choose to buy using local wallet.so that means the machines is not indication of the pumping of the prices.

In the first place, do we really need a bitcoin atm? Because basically it is not needed by huge market adoption, they are just advertising the bitcoin in my opinion. Why don't we advertise directly, wear clothes with bitcoin logo, ask our friends to transact in bitcoin and other direct marketing. Because ATM will just consume space, and I rather buy bitcoin in local exchanges. It is all digital and easy now, having bitcoin ATM just induces us to go back to traditional.

I think this is good news as more and more available bitcoin ATMs make bitcoin more popular. at least the existence of a bitcoin ATM will make people who initially did not know about bitcoin to know and might want to try to buy and invest in bitcoin. although the presence of a bitcoin ATM does not encourage bitcoin towards mass adoption. because bitcoin holders tend to use bitcoin ATMs to convert them into fiat money. but the presence of a bitcoin ATM is quite useful as a medium of exchange and promotion.

It's really good that there are lots of ATMs being opened, but my question is on the usage rate, are there really people that are making use of these Bitcoin ATM? I have come to learn that there are extra fees that are attached to buying Bitcoin with it.

 Another thing is what those who are using it to buy Bitcoin are doing with the Bitcoin. Some people would just buy the coins and use them to purchase from stores, and that adds nothing to the market because those merchants are still going to convert it to fiat immediately. The only way it adds up, as someone mentioned here is by people buying and holding it.

I think that shopping malls need more ATM with which you can cash out your bitcoins transferring them to fiat.

the benefits of bitcoin if this applies in every country will definitely be felt for crypto owners. now many find it difficult to sell bitcoin because right now bitcoin is only traded on the exchange, but if you use this atm I think it will be very easy for travelers when entering the year-end holiday

I also want to know the statistics of bitcoin ATM owners in the country, which state is the mall situated in the USA? We don't have the information of the response of users to the payment in BTC at the mall, so it could be difficult to state the level of adoption in USA. Some statistics I saw lately showed a low adoption rate in USA which is contrary to my believe.