Bitcoin Forum

The first BTM in Greece is operational http://coinatmradar.com/bitcoin_atm/527/bitcoin-atm-genesis-coin-acharnes-orizontes-bookstore/ Please spread the word..also, still looking for a location for a 2-way

gz! I will go for a walk to get my btc from machine  ;D I have never see a machine in operation before

Someone should setup a webcam or an ipcam to see the movement on greece to this atm, it would be fun to see a timelapse video. im sure it would turn political with the current situation.

Best time to have BTM's flood Greece ;) Was it on purpose?

The unfortunate thing is, it's only a 1 way machine...

at least one...there should be one in the capital too.

Acharnes is Greater Athens, less than 30min by train from Athens centre. We are looking for a location in central Athens to place a 2-way, so anyone with ideas is welcome

and some pic from here

http://coinatmradar.com/bitcoin_atm/527/bitcoin-atm-genesis-coin-acharnes-orizontes-bookstore/



http://www.bitcoin-gr.org/wp-content/uploads/2015/06/genesiscoin_bitcoin_atm_c1ace8d05c.jpg

And whats New In this machine? Is it cashout BTC, Or fiat money? We have to use ordinary card like bit-x card on these machine?

I think is cash out only btc. Here is and another pic

http://www.bitcoin-gr.org/wp-content/uploads/2015/06/12genesiscoin_bitcoin_atm_1a7fe0fa50.jpg

Cashout to BTC only, as it says on the website linked in the OP...

These kinds of machines accept credit and debit cards too?

Seens so, there's a slot for it.
But it would be interesting to not only buy BTC, but to cashout aswell.

it has an option to accepts cards (ie debit, credit cards etc) but we don't have such an agreement with a bank yet, so it's cash only for now. as i said, if someone provides a location for a 2-way machine in athens, we will install it, so that will be a cash out option

So the If it Cashout BTC, Then How Will we exchange them Into Fiat cash?
Are these shops accepting BTC for Shoping?

If there's anywhere people are desperate for cash it's Greece. With all the cutbacks there must be some Greek Bitcoin holders who have no choice other than to sell some coins to pay the bills. If it was a two way machine it would be more popular because they could get their hands on cash very quickly.

The point is to secure money by exchanging it to bitcoins, and use it as a payment tool aswell. You can see on the guy's t-shirt also:
"I can tell you what to buy with bitcoins" , so it's safe to say how then can use bitcoins as payment method.
Another form of avoiding banks and securing their money would be to use bitcoin debit cards, which they can load using bitcoins purchased from ATM.

cheers

to me it seems like a gimmick unecessarely thing, you can just go ahead and use any exchange to have bitcoin then load those in your wallet and proceed to buy what you want at any shop accepting it

but if those machine offer a sort of privacy on your transaction(your name does not appear there, like in the exchange ecc..)

then i could see a point in using it

yes, some people like anonymity, don't want to bother with KYC on online exchanges, and other reasons..

This is really great news, I hope Bitcoin ATM in Greece will be act as a eye opener to all over the world, this scheme will enriched the financial crisis and make their economic conditions to stabilize, I really wish good luck to Greece, it is one of the ancient and traditional country in this world.

Since your into Bitcoin you must already be aware of this but I wanted to double check anyway since you guys in Greece are really in for a shitstorm. You are aware of the risks involved with trading for paper currencies like this right? For instance if a ton of people did a run on the banks and all swarmed to your ATM to buy Bitcoins, you would be left with nothing but worthless paper.

It may end up being profitable for now, but eventually things will get so expensive in paper currency that you'll practically have been robbed of your coins and you'll have lost one of your only ways to guard against inflation. The reason I'm saying this is not to be negative but because I am absolutely expecting a pretty bad crash this year and Greece will be one of the main catalysts.

I don't remember where but I remember seeing someone using an ATM (not that model tho, I think it was the Robocoin one) and it was a mess, you needed ID, a hand scan, and they even had a webcam on there.. what a joke.
Im pretty sure this is not anonymous, which would mean, the government could try to scan the ATM's and see the BTC transactions linked to your name (I assume this machine will need your ID at least) and tell you to get your BTC back to euro or get some sort of sanction... so whats the point?

it depends on the model and how it's setup..this machine how it is setup asks for none of that, u insert the cash and get ur BTC

If the owner of the atm wants only cash then cash to btc will be, i know i wouldn't take credit cards, they could easily visit an atm withdraw cash and buy bitcoin from the btm.

Buy rate: EUR 247.40    ???

sorry, some test settings remained..fixed. is it ok now?

What is the legal status of running a Bitcoin ATM in Greece?  Have to report transaction etc...?

As in most EU countries it's not defined by law..yet..

where you see it? are they trying to cover they debt with this ploy?


it does not mean that you can't declare anything, especially if your income is very high

247.40 Euro?
This is very strange and unfair rate, something is wrong with that.
Are you sure this is correct?
We just recently got first Bitcoin ATM in Croatia and we don't have such ridiculous rate.
Regarding law, in my country we can't report to IRS any income in BTC directly, it must be in national currency.
Any way, this is still gray and undefined zone.
 

We installed the Croatian ATM as well :)
the rate is not correct, it was maybe at that time while the machine was in test mode. the fee is 5% so anyone can go now and report the current rate

Hmmmm good news that they're getting a BTC ATM I guess but I wonder how much it will get used, I'd be willing to guess the answer is not a lot.
Has anybody got any stats on BTC use in Greece? It'd be interesting to see. I HODL & buy on exchanges so I've never used a BTC ATM. I found an interesting stat the other day though, if anybody wants to have a look CoinDesk have a worldwide BTC ATM map -

http://www.coindesk.com/bitcoin-atm-map/

People should realize that if they have limitation to take out their money, this is definitely one of the solutions because nobody can control where bitcoin goes. If that is not enough to convince people to see the benefit of bitcoin, I don't know what else further we can do. It's interesting to see how this will develop and change over time.

The operators can charge any percentage of fees to cover his costs. The fees is insanely high. I don't think any one will really use this machines, probably come here, have a look and try out a small amout of money. They can go exchange for the fair fee.

that is nice to see you are providing the great support there as this ATM is in test mode so we can understand that kind of minor problem is normal in the start, good to see now that problem has been resolved and the rate is get corrected to €216.

They are doing the classic "let's charge these European idiots the same number we charge to the Americans, except we switch the dollar sign for the euro sign" move. Maybe they'll be able to pay the debt with that.
And as others have pointed out, im pretty sure this requires credentials which would attach that withdraw/deposit to your real name forever.

do you guys who post even read the previous posts? :/

Heard that bitcoin is just a digital currency.. But now a b machine means that btc is now can be taken as cash.

They prefer to FUD and to post all around so they get paid for their signature campaigns.
I do have one, but I try to not post useless things like those 5 posts above yours.

Why cashout to fiat when you have Bitcoin? Two-way ATMs are only needed for those who buy Bitcoin for speculative purposes without realizing that Bitcoin is superior money. Buy Bitcoin and pay for goods and services with Bitcoin. Let fiat hyperinflate and die.

ya.ya.yo!

hello

thanks for the clarification. good work and good luck over there. i guess you are living in some tough times in these days  :-X .

I hope this is the first step of a great journey my greek friends!

Long live!

Sounds great.
But how we can redeem it...has btc came in cash as notes. Or its a digital only.

What do you mean redeem it?
You put your euros in and you get your BTC out, and the opposite. Pretty straight forward, but without privacy anyone with access to the machine will know how much money did you run troughs that because again I doubt it's anonymous and no one here is saying exactly what do you need to provide to use the machine.

In what i get my btc out.
Are they transfered to my wallet?

I am still waiting something like what happened in Cyprus, I think it will pump up bitcoin and more if they have ATM like that one  :D

Usually you have to carry some qr code with your bitcon address and a camera read it

If you read instead of just saying shit, the OP already said that this machine can only buy BTC, not cashout fiat.

Yup, you put the money, say your address, and done, fresh BTC in your wallet.

Wow, this is great news...its great to see Greece steeping up! Someone find a place for the 2 way, so BSpend can install it!

More pic from a newspaper in Greece
The owner of book shop

http://www.protothema.gr/files/1/2015/06/26/aa/bit13.jpg

http://www.protothema.gr/files/1/2015/06/26/aa/bit12.jpg

and a video

http://cdnapi.kaltura.com/index.php/extwidget/openGraph/wid/1_v6iqihxh

thanks! :)

I travel to Greece from time to time and I hate taking lots of cash with me or having to use debit card and pay currency exchange + transaction frees. I would love to have some way where I can just exchange my BTC into Euros so I can travel with no worry.

Unfortunately, this ATM doesn't help me because it doesn't do BTC=>fiat.
Unfortunately, even if there would be 2 way ATM in Athens it would probably still have so high fees that using debit card would be cheaper. And I'm taking about very high debit card fees: 3% exchange rate + $0.30 per transaction.

News nice, so the greece people can change their euros into bitcoins.
Its a win win situation for the people there and for bitcoin promotion.

It would be nice when everything in greece would now go trought bitcoin (dreaming  :)), it will give bitcoin a big boost.

We need this atms all over greece.

For real, you'd have thought that these ATM companies would've been knowing the debt situation in Greece for quite a while now and would've planned accordingly. Not saying Cyprus caused the junior bull run in the spring of 2013 but the impending perception of the dynamics there surely helped the outward-in look. And, Greece is way bigger of a deal at this point especially as the market seems to be turning around.

...

I am late to this thread, but will make a couple of observations:

1)  It looks like this BTC ATM requires no ID to use.  The only machine I ever used (in NYC) did not either, I put in almost all the cash I had in my wallet ($400) for BTC.  Assuming any such buyer has a safe wallet, then they are good to go...  Good to go to Italy or anywhere else to get their money out of Greece!

2)  Anyone looking to get some of their money out of Greece should consider (and quickly!) buying BTC as heavily as they can.  YES, BTC price is quite variable, but almost any amount of price volatility is more than compensated by the relative safety of BTC (and the ability to get it back in Italy or wherever).  I completely agree with above comment on why there are so many Greeks with so much money left in their banks, WTF?!

*   *   *

It would be of interest to this thread if we can get pictures of the lines of people (or even the lack thereof) in the coming days.  Zero Hedge has a big article on long lines forming at "regular ATMs", getting their electrons in the bank turned into paper euros while they still can...

video from Rusia Today

https://www.youtube.com/watch?v=1TmPU3ii_uE

KimDotCom says greece debt default is going to boost gold and bitcoin .. I'm not sure sure about gold, but Greece sure might drift toward bitcoin in a big way ...

Well not Greece has a complete but more the tech savvy, the bitcoin foundation should step in and educate some of the greeks or setup an embassy in order to create a bigger bitcoin movement in greece.

Despite the financial troubles, only a small fraction of the Greeks have heard about the Bitcoin and other crypto-currencies. And even fewer numbers know how to use them and to store them securely. Right now, most of the Greeks are storing their wealth in the form of fiat banknotes, and bullion coins. Bitcoin exchange rates are too volatile to be attractive.

Yea is most likely for them to turn into precious metals has is more in the general public knowledge to the value and trade of gold, silver and other precious metals, the greeks will begin to trade in metals in till they begin to see how hard is to trade with big vol of metals and with bitcoin is pretty much a clic away.