Bitcoin Forum

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The first two-side bitcoin ATM machine appears in HongKong .Purchasing bitcoin or exchanging cash is less than 1 minute ,while traditional bitcoin ATM machines need several hours to open the accounts on platforms .Meanwhile ,this machine don’t save individual information ,saving bitcoin in electronic wallet rather than network platforms which improves the safety .
When informed whether not saving individual information will be convenient to money laundering ,the bitcoin ATM machine founder said ,exchanging cash through electronic wallet should input password and be kept record .Additionally ,we have software to supervise .So we enjoy supervision ability to some suspicious trade.Its stragety master Lin zhi da said ,we will save clients’ information if the supervision organizations demand .He also emphasized ,with cooperating with operators ,they can trade and provide service through bank accounts .Thus ,they have the ability to control money laundering to some extent .
Its founder pointed that as electronic currency ,the supervision ordinance in HongKong and Macao defines bitcoin as goods not currency ,while bitcoin two-side trade is similar to goods trade ,but not accept deposit .Therefore ,it doesn’t refer to the limit of money trade license.

Yes !The HongKong Monetary Authority will not manage now ,but it will warn the public to pay attention to bitcoin change and risk .
The HongKong Monetary Authority reacted to the media with 4 point .First ,virtual goods price may change rapidly in a short time ,so customers and commercial organizations may get a big loss for changing price .
Second ,Because virtual goods usually are not published by identifiable publishers ,so if virtual goods are stopped to be traded ,customers and commercial organizations will not gain any refund .
Third ,we warn customers and commercial organizations to prevent virtual goods trade risk ,improving their warning .
Finally ,the public should know the machine is a kind of automat ,not common ATM .In addition ,we also warn all customers and commercial organizations that the machine isn’t run by banks .

Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can  correct it.

Minus the high amount of warnings given to the public and also the supervision of the ATM users.  I like this story.  Far from the banning of BTC people have been speculating about.  Thanks again best-miner.com.   :)

Wonder what will happen with all those ATMs when price keeps falling. Are people really prepared to get huge amounts of coins with little or less value?

Thanks for the translated news.
It is good to see people in HK can now buy and sell bitcoin easily. :)

yeah, we need some more good news sources from asia.

This just shows that the rumors about China banning BitCoin are a little too drawn out of proportion.

Thank you for posting this.  :)
Do you have accurate information on this question:
Are there any two-side bitcoin ATM's in mainland China yet?

Hong Kong has much different financial rules than the mainland. Get a clue about China's financial controls.

I guess you bring up a good point ^^  This could only be good for a limited amount of people but it is still far from the fud that people have been posting during the past month of so.

Good news, i would love to have one of these in my country also but for now we don't have. Hope we'll have more of these soon enough.

No, in mainland of China, there are only 1 side bitcoin ATM in Shanghai from April 15, you can buy bitcoin with cash, but can't sell bitcoin in that ATM.

This is great news, the first two-way ATM came in Helsinki earlier this month too. I have also heard about another one appearing here in Turku, another city in Finland which is closer to where I am located.

Can't wait to go try it out. :)

i really hope that places in the us start having these 2 sided atm machines. i think it will get a lot more use and to think about the people that dont use bitcoin cause not a secure place to buy but if you can buy at an atm that would be so perfect and would help bitcoin alot

Wow, It would be really convenient to the people there, and they can trade bitcoin with fast trade time and no verification.

There's one at Hacker Dojo here in Silicon Valley. Works fine. 15% spread, 5% fee. Nobody uses it.