Greece's first Bitcoin ATM installed

[bSpend]

One more good news for bitcoin. 
But it looks like atm for bitcoin is not needed for now in Greece. 
Because Now Greece is experiencing economic crisis. 

it is needed because banks are closing and country imposed capital control restrictions

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[toknormal]

LoL. Some of the miserable replies in this thread are unbelievable. You can lead a horse to water...

Stop the crap.

The arrival of a Bitcoin ATM in Athens is an immense marketing opportunity for bitcoin to penetrate a little bit into the mainstream. It needs to get tweeted and virally propagated as much as possibly. Ditch your nonsense about privacy and socialism and start getting behind initiatives. Bitcoin has two huge areas of potential in Greece right now:

[1] - they're inhibited to use electronic money - everyone wants cash (FIAT electronic money that is)

[2] - if there's a currency reset then Bitcoin could save them from devaluation of personal savings

Here's the TinyURL = http://tinyurl.com/ochakml

Here's the tags:

#OXI #Grexit #greferendum #AlexisTsiprasn #Greece #Syntagma

All the world's press are on those feeds right now.

[toknormal]

************* OK WE HAVE A CANDIDATE ************

Retweet this and lets get it to float:

https://twitter.com/TaoOfSatoshi/status/615663017217392641

************************************************

[kingaltcoins]

Does this ATM dispense cash ? Or only take cash for BTC?

[Jawguy]

I think that greece is going absolutely crazy at the moment.  I can't believe they're just getting an atm now though.  It seems like this was overdue by 6 months.

[crazyivan]

lol BTC

Heh, a good one.

[ShetKid]

One more good news for bitcoin.  
But it looks like atm for bitcoin is not needed for now in Greece.  
Because Now Greece is experiencing economic crisis.  

It is needed as in Greece with the ATMs and economy collapsing, they also don't have access online payment systems and will have trouble buying bitcoin if they wish to do so. With ATM's I think they can just convert all their cash and fiat into bitcoins straightaway .

Has there been any statistics on how was the response at the ATM over the last week ? Certainly should have grown.

[ajareselde]

I doubt that ATM will have any impact or traffic because it seams to be placed in some crowded small shop or something similar.

Just like with anything else, location should be more than just a point of the business plan, and placing that ATM in the airport,marketplace, or on any of the bigger streets would be much
more preferable than sticking in where it currently is.

************* OK WE HAVE A CANDIDATE ************

Retweet this and lets get it to float:

https://twitter.com/TaoOfSatoshi/status/615663017217392641

************************************************

I retweeted that

cheers

[tokeweed]

I wonder if this place will get flooded with people this week.

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

(before you try to scan the private key in the video, it has a zero balance )

LOL!  I wonder how funny the owners think it is...

[Elwar]

I doubt that ATM will have any impact or traffic because it seams to be placed in some crowded small shop or something similar.

Just like with anything else, location should be more than just a point of the business plan, and placing that ATM in the airport,marketplace, or on any of the bigger streets would be much
more preferable than sticking in where it currently is.

Placement in a high traffic location requires money to rent the space which would require higher fees at the ATM which would discourage its use. Some Bitcoin user that has a small shop can easily add a Bitcoin ATM to their shop with a few thousand dollars.

Placing it in an airport not only requires a lot of money but also a lot of red tape with the airport and possibly exposure to some required currency exchange regulations that would easily be ignored in some small shop.

[S4VV4S]

Does this ATM dispense cash ? Or only take cash for BTC?

Good question.
If it's one way then one can only buy Bitcoins.
That is however IF they got cash because of the capital control and €60 per day limit.

If it's two way, then Bitcoiners might be able to get some cash if needed, now that the banks are closed.
That is however IF the BTM has cash :-/

[pooya87]

since there is only one bitcoin ATM in whole Greece at a bookstore it is not going to do have any big help for Greeks to buy bitcoin easily.
the bitcoin price looks seriously affected by the news though!

[Anony]

Good news, the Bitcoin ATM's are realy easy to use although the one I saw was limited to just bank notes and not credit cards, very easy to use it actually surprised me.

As Greece make bitcoin as legal and install ATM which is easy to use.Very soon bitcoin will succeed through out the world.Huge potential area for bitcoin is at "International Airport"and "Shopping Mall" .It wil make bitcoins more in demand
http://www.coinfox.info/news/2256-greek-bitcoin-enthusiasts-installed-first-bitcoin-atm-in-athens

[ajareselde]

Good news, the Bitcoin ATM's are realy easy to use although the one I saw was limited to just bank notes and not credit cards, very easy to use it actually surprised me.

As Greece make bitcoin as legal and install ATM which is easy to use.Very soon bitcoin will succeed through out the world.Huge potential area for bitcoin is at "International Airport"and "Shopping Mall" .It wil make bitcoins more in demand
http://www.coinfox.info/news/2256-greek-bitcoin-enthusiasts-installed-first-bitcoin-atm-in-athens

Best potential for bitcoin would be if it would be available to use it on normal ATM's, upgraded to support bitcoin as payment.
There would be no more need for new ATM's, and finding locations, user would just go to any "upgraded" version of ATM and make his transaction. I'm hoping that we will see this as an option in near future,
but to achieve it, bitcoin has to reach much wider audience than it has today, to force the ones fighting it to give up and join . Is this only a dream; probably, but it's also one of the possibilities, like 250$ once was.

cheers

[bitnanigans]

Is there any fiat cash in the ATM though?

[Amph]

since there is only one bitcoin ATM in whole Greece at a bookstore it is not going to do have any big help for Greeks to buy bitcoin easily.
the bitcoin price looks seriously affected by the news though!

they don't have money to live and buy foods, you really think they will buy bitcoin, lol a bit pretentious anyway

none in greece will buy bitcoin for now, a thing like that is good only for rising the awareness about crypto, in general

[NeuroticFish]

The only use for it nowadays would be to transfer money out of country.
However, interesting moment to do this, I'd be curious about some usage statistics...

[coinpr0n]

Does this ATM dispense cash ? Or only take cash for BTC?

Good question.
If it's one way then one can only buy Bitcoins.
That is however IF they got cash because of the capital control and €60 per day limit.

If it's two way, then Bitcoiners might be able to get some cash if needed, now that the banks are closed.
That is however IF the BTM has cash :-/

I believe I read that it takes cash and credit cards, but I'm not sure the credit cards are working atm. I will try to find where I read that...

EDIT: Forgot to mention - it's one-way also. See it in action: https://www.youtube.com/watch?v=1TmPU3ii_uE

[gerXhonza]

since there is only one bitcoin ATM in whole Greece at a bookstore it is not going to do have any big help for Greeks to buy bitcoin easily.
the bitcoin price looks seriously affected by the news though!

It may only be in one store at the moment but that is how it starts, we just need to chill and give it time. In the end every country will have BTC ATM's and then it will continue to grow. Not sure that is the soul reason we have seen growth to be fair, it was growing before we got word of this. It is surly helping though.

[greBit]

That was a very smart move made by both the finishing end parties. It will be really helpful for the Greece citizens which are powered by the bitcoin currency. It will also be a nice way to show off how decentralised crypto currency is much better than the ordinary and how it is benefiting the society real time.