Bitcoin Forum

I am wondering if there are a lot of bitcoin ATM spread around in your country, how will it affect to bitcoin, will it attract more user, will it boost bitcoin reputation, or will it provoke the government for banned the coin? because as we know bitcoin also give freedom to money laundry, and other illegal transaction

If we take a look at this map http://www.coindesk.com/bitcoin-atm-map/ you will see that there isn't much so governments wouldn't take Bitcoin as a threat (at least not yet). (Africa only have 1 ATM and Russia have none)
So for the moment , I guess It's safe to say that they could boost Bitcoin reputation but with time , It could provoke the government and make them ban it.

We have a bitcoin atm in the centre of town, here in  n ireland and yeah i would say that must get people asking questions about what it is, if anything it is good pr for bitcoin.  i wouldnt buy from them tho as they are always over priced

It definitely increases awareness. I used a Bitcoin ATM in a gas station the other day, and spent a good 30 minutes explaining it to people. Luckily the fees on the ATM I used were only 5%.

Usually bitcoin ATM require id and face verification to keep record of all the bitcoin buy/sell via those ATMs and this info should be delivered to government in case of investigation. https://www.cryptocompare.com/exchanges/guides/how-does-a-bitcoin-atm-work-or-how-to-use-a-bitcoin-atm/
So even having bitcoin ATM may not promote money laundaring, actually having bitcoin ATM can easily boost adoption on those area/country due to easy access to bitcoin.

We also have a few in my town and they work great too :)

There is two way for answering this question, definitely, with a lot of the bitcoin atm are spreading in every country will boost the popularity and massive adoption of bitcoin, but another from that bitcoin still having the opponent like the government are controlling by the banker will preventing it, with making some strict rules for making a limitation for that.

A very thought-provoking answers and true friend. because it is basically still constrained in bitcoin policies and the interests of every country that exists in the world, so it would be one thing to change or maybe the Government will use the bitcoin or agree with that but there are some definite terms the same as other financial terms

I really dont understand how this will affect Bitcoin aside from increasing its popularity and I dont see how it will be beneficial to those whose FIAT is not in either of all the popular currency in which Bitcoin is mostly quoted. For countries aside the ones I said earlier I am still trying to figure how the exchange process will be profitable to users because will the ATM issue in my local currency or in dollars and if its my local currency, at what rate? At official rate or at parallel rate?

Bitcoin atms are few and far between and only in big cities. I don't think in most countries ghey have very much exposure. That and why would you need to go to a physical location to but bitcoins when you can buy them online for less fees? It just seems redundant like buying an mp3 in a physical store.

Having more Bitcoin ATM's increases liquidity of Bitcoins and more flow into the economy. This way people can spend it more by withdrawing funds from the ATM or depositing funds into a Bitcoin wallet. On the map linked above, I've noticed that most of Asia and Russia have lesser ATM's due to stringent laws and regulation of ATM machines by Reserve Banks in several nations. So, in such cases even privatized operation of ATM's aren't allowed, so chances of that happening are pretty slim.

Having bitcoin ATM will be good for mass adoption and it will be easier to attract new local merchants to start accepting bitcoin payments because if they need cash they can just exchange those received bitcoins in near by bitcoin ATM. This will increase use cases of bitcoin for people near those bitcoin ATMs.

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Bitcoin ATMs are a nice way to get visibility for BTC, but the premium I have to pay in my city are a very high 14%.  Also the first time using you have to supply ID and cell phone number (KYC/AML laws).  The 14% is the major barrier though. 

My guess is that BTC ATMs are not going to affect BTC's evolution that much.

It would help in adoption of bitcoin much quicker and many people will come to know about bitcoin. And many wool switch to bitcoin system of payment instead of bitcoin because it has advantage over traditional banks. ATM will also help us to withdraw money instantly anywhere we have atm.

Currently not many atms are not there. The government is aware of everything. The fees will always play a major role. Plus the security will also be a concern. Normally you see atms being robbed and money goes, you cant let security slip with these atms.

Yes bitcoin atm would help to popularize bitcoin very faster and even old man who doesn't know about it will start using it because of its flexibilityand awesome bundle of advantages over traditional banks. It should also help us to use bitcoin without laptop our smartphone. Because we will only deal with atm card and forget ascot log in log out problems.

I don't like these ATMs, the fees are too high and most of them require an ID verification in order to use them.But I think that they can work as an advertisement for Bitcoin, the more people are seeing ATMs with the Bitcoin logo on them the more they realize that it is real money and not a shady internet currency as they read in big media.

yes definitely it will boost bitcoin reputation and it will popularize bitcoin very faster and even who didn't know about the technology will start using it. also we who have another advantage that is there will be no issue if phishing and other hacks in using wallet because them we will not have to log in and log out regularly.

I think it can be much easier to withdraw money with bitcoin atm.. and the effect maybe more people can be trust bitcoin since many people are not trusting bitcoin because of many ponzi schemes happening online..

I think it'll only increase the number of bitcoin user. Because, users can directly use bitcoin as the paper currency. They don't need to wait for any exchange to convert their bitcoins to the paper currency. In the mean time, if there installed more number of bitcoin ATMs, the government will try to take control over the bitcoin ATMs just to reduce the number of criminal/illegal activities.

Well these BTC ATM's are very regulated, so the government will not have issues with that. Some of these BTC ATM's have small limits, so you

will not use them for money laundering. So the people using these BTC ATM's actually sacrifice their Pseudo-anonymity to use Bitcoin that

way and the governments stay happy because they can track the money.  ::)

I have found that people will look to see what you are doing at the atm but act like they know and tend to just go on doing what they where doing.
Might be the vibe of my city as people are very snobby and we are well known to be a cold population when it comes to new people.

The majority of ours are in coffee houses now or head shops (Potshops) and it seems like they are growing in numbers. So it must be helping adoption rates by people just observing alone.

If its an ATM that would allow people to buy bitcoins using cash, then yes it will definitely boost bitcoin activity and price. More people would also be introduced to bitcoin this way.

I think if there was bitcoin ATM anywhere in the word, the bitcoin will become just like any currency out there therefore it will no longer have its value of fast and anonymous.  :-\

There are like 4 or 5 Bitcoin ATMs my country and they are placed in bigger cities. Local authorities haven't made any troubles because of it. I think they are good to promote the Bitcoin and make buying or selling even more convenient. But somehow I have the feeling that people are stil more keen to buy or sell Bitcoin online on exchangers. ATMs need more marketing.

I don't know, people uses Bitcoin to avoid taxes and you will go there and pay 5%-15%?

I don't think ATM will bring more users, maybe with less taxes...

Nobody said that there will be a fee that high. I'm pretty sure that it's not 15%. It might be just a couple of cents or it would be just a small percentage of the money that you're withdrawing. I believe that bitcoin ATMs will actually bring more users because ATMs can be seen by the public. If that ATM was made solely for bitcoin, people would think that it's somewhat a special ATM and check out what bitcoin is.

You are quite right. My country is one of the first to have a btc atm and it is parked right in one of the most popular shopping mall with heavy traffic flow. However, no one used it and it was later removed. The fee ended up very high and so even it is still available in some hidden corner, people still dont use the service.

How it will affect to bitcoin usage? First of all it's another form of advertisement, at least. Now depend on the users if they will seek information about it. In our central business area here in our country, and I posted it here a while ago, there was an active bitcoin ATM. Well since that is central business area, there are lots of banks ATM spread out throughout the city around that bitcoin ATM so nothing change and I think some people don't bother to seek information what bitcoin is.

It's really depend on people's response. About that banning the bitcoin if ever a usage will be more presently with the use of Bitcoin ATM, I see no sense about that as long as all people concerned and involved in that bitcoin ATM service are complying with the law and pays taxes properly.

Even in our place too. Bitcoin  ATM appeared here yesterday and I was hype because I want to try it for the first time. So I tried It I tried to convert my .1 into fiat and I was shocked because It deducted 5% of my bitcoins. If I convert my bitcoins into local currency through my old way it only cost not morethan 1% fee on it.
I realize that bitcoin atm is good for rush converting of bitcoins cause it is fast.

i think it will affect to bitcoin itself and can attract more user to use bitcoin and in other hands, bitcoin will be strong than now and bitcoin will be increase its reputation. but its depend on government, if they accepted bitcoin then the position of bitcoin in one country will become strong and solid because its have back up from government, but if government banned bitcoin, then i think people which is involve with bitcoin still using bitcoin and for the other people will stay away from bitcoin.

Maybe because bitcoin users is that many yet.People maybe aware of bitcoin,but did not know how it function or how to transact with it.Still fiat money is still popular that even if you have a bitcoin,you have to convert it to fiat and go shopping.But I am hopeful that one day, this atm will be useful, or they incorporate it with fiat ATM,that whenever you transact,it will ask the source of funds whether in bitcoin or bank fiat account.

For you know about some important thing we should be remember with this.
all of the reason already mentioned by you in your thread are exactly true. but knowing about some reaction of the goverment.
It's not about the money laundry, but for you know some bank institution are officially under the govermnet's control and this be the huge field for them charging a tax for their civilians, through the loans, trans service and etc. and they will involving about bitcoin are threatend one of their source income, even the bitcoin atm are get more spreading with more exact amount and this will gave a high threatened for the govermnet. and the chance will trying for strict the civilians will so high with the military power, goverment can do anything they want. and the word of banning bitcoin will come true.

yeah for sure!


I don't know why anyone would bother with the atm and their fee's. With the atm cards you can
get now you can have your money put on your visa card in minutes. I do think atms would help
though. I wish there were more all over so bitcoin would gain popularity and the fee's wouldnt
be so dam high to use them.

Bitcoin ATM would make the currency more popular in less time and there will be adoption of bitcoin in much higher rate. It would also make usage of bitcoin without any laptop or smartphone and those who dummy have laptop or smartphone also could use bitcoin and there will be no limitation on using it. We could use it even if we forget to bring our mobile or if our mobile run out of charge. So it would  be awesome

Atm machines would be nice in bitcoin.Because of its many user it will have a positive effect and bitcoin will be more useful

I think the ATM have something to identify the user, because the ATM is from an exchange, so probably you need to have a register or something like that... If not, you will pay a lot of taxes and there's a lot of easy ways to laundry money...

If you look at the maps of many places, you can see that there are very little Bitcoin ATMs in the world at the moment. I guess it could be used as a marketing factor to advertise Bitcoin, but it wouldn’t attract many new Bitcoin members as, like I said, there a very few Bitcoin ATMs in the world today.

Africa is a continent not a country and they habe much more then one. South Africa alone has about 3 possibly more. I am pretty sure Egypt habe some too.

Also I have heard from many people that the fee they charge negates even using the ATM as its ridiculously high like 7% of something stupid.

I know of one bitcoin ATM the next few hundred miles, and that has already closed again.
Bitcoin ATMs do not seem to be profitable around here.
Personally I have never used one, but in a few threads here it was claimed that they take relatively high fees.
In that case I do not think that ATMs will have any influence on bitcoin at all.

It could be a provocation because bitcoin is pseudo anonymous but i think that it would be better for bitcoin as more people will have more transaction and those that maintain the atm will have a good salary based on these fees.
I dont think that it will make bitcoin bad because on these ATMs ther ewill be cameras

There are   many  possible things that  might happen and that depends  on the  view of  a certain country into bitcoin especially to its government. IF they let bitcoin atms would operate in their  place  then for sure they are  already  aware  on the  capability  of bitcoin because   government  wont  decide   or let this things to be  placed  if  its against  on their  interest  and rules.  Bitcoin ATM would surely  increase  its adoption  when people  do  have   or  put their  interest on these machines.

Just few of them on my country, that's not really affect to bitcoin but it's little bit increased bitcoin user on my country, the government is not say much although the regulations is still grey.

Actually bitcoin atm will bring a positive change in its status because many unknown people will come to know about bitcoin when they will see bitcoin atm in road side or in city. If bitcoin just relay on gadgets like smartphone and laptop then it wouldn't get that much popularity because it remains hidden

IMO it will give some good advertising to Bitcoin in the first place, the logo will be noticable by just about everyone and it will give people a sense that it's legitimate, instead of just some obscure internet currency.

And it will be very handy for us existing users to be able to buy Bitcoins at a local gasstation or supermarket.

Hi,

Bitcoin ATMs are modified versions of traditional ATMs. These machines can convert fiat currency to bitcoin and vice-versa. However, it should be noted that some Bitcoin ATMs are only “one-way,” meaning that they can only be used to buy or sell bitcoin, and not both. Other machines are “two-way,” and are capable of both purchasing and selling bitcoin. Bitcoin ATMs are currently not very widespread.

Coming to BTC ATM availability affecting bitcoins, yes, it is true that ATMs availability will definitely impact the usage. Suppose, a shopping mall offers a lot of discounts for BTC users and you are not having Bitcoins in a wallet, you can just go to the ATM and exchange the currency to make a purchase.

If the ATM machines are not available, then people will drop the plan of buying goods and services in Bitcoin currency and will go for fiat currency. If the usage and demand drop, BTC will become more expensive in your region.

Bitcoin ATM are just like other visa/mastercard ATM so bitcoin may get popular if people start to see bitcoin ATM just next to their usual ATMs and they may try to use it atleast once which is good for better adoption as well as this can easily promote bitcoin to people living near by, so more new money will flow into bitcoin good for price.

Yeah it can affect also the people trust about bitcoin that they will know that bitcoin is real and it is not scam.. because of this it can increase the value and more banks trust this currency.. that can affect the price of bitcoin..

It can probably be the reason of raising awareness among people for bitcoin but as you said it can also provoke government if they are a lot and people are getting attracted towards bitcoin more than banks etc, in such a case government can permanently ban them and that wont be a good news.

I believe having bitcoin atms on a certain country will lead to mass adoptation. And im pretty sure a lot of merchants will consider accepting bitcoins as mode of payments rather than focusing only on fiats. With this atms, people will be encourage to use bitcoins for transactions are fast and easy. But we have to consider also that the government may impose a lot of regulations for this new system.

Well there are no bitcoins ATM on my country, and there are no too many comunity who use bitcoins for real transaction on their life, i don't think my government will ban usage of bitcoins, because it be considered commodity by my government and not be considered as money, at least for right now bitcoin is still safe on my country (Indonesia).

well, maybe with the appearance of bitcoin atm, then the bitcoin users can freely use her wherever they are, maybe it will make people interested in using it, especially if bitcoin is very easy to use with a transaction that fairly quickly. many people were interested, would have been very many of those who convert their funds into bitcoin, and it is obviously going to affect bitcoin, whether it be from the price or from other angles

Atms can't help or affect too much, their primary objective is to make things simple and easier to use. It can attract people, when they see bitcoin atms on every corner they will have positive opinion about it, they will see how easy can be to use bitcoins.
Atm is just a simple machine that is connected, I didn't investigate who is behind this bitcoin atm machines, that company will affect bitcoin, atms are probably just one of things they do.

I think it could only be a good thing to have more bitcoin atm's around, more visibility for bitcoin will get more people talking about it.
People will soon realise that there are cheaper ways to get coins but at least it will get them talking.

If there's more bitcoin ATM around us, it will be increase awareness and popularity of bitcoin. People who don't know about bitcoin yet will might curious with the ATM and looking what it's use for. Therefore, they will know what bitcoin is, and perhaps they'll interested to use bitcoin.