Stupidity or Greed? Why Steal Bitcoin ATM?

[SFR10]

Apparently the first Bitcoin ATM machine (BTM) in US that has been stolen this nov,3 which makes it the 3rd BTM robbery case overall so far... According to the official statement "criminals would not be able to re-sell it because it is registered to the buyer with serial numbers linking them to the original owners. Moreover, no one except the owner will be able to get any bitcoins from the machines while most BTMs don’t hold a lot of cash inside as a rule."

So why would anyone target Bitcoin ATM machines... lack of knowledge, stupidity or something else?

Link to article: http://cointelegraph.com/news/115574/stupidity-or-greed-why-steal-bitcoin-atm

[ebliever]

Ironically, it is to steal the fiat that has been deposited in the machine.

[manselr]

Yeah, the only gains they could make is any physical cash that is stored inside the machine if they manage to open it. And of course, they can always resell the materials I guess. Overall not worth the steal.

[Triple]

I don't think they understand how bitcoins work. Literally not worth it to steal a Bitcoin ATM. they prob think they can get the funds out somehow

[mr angry]

Regular cash ATMs are probably loaded with dye that spays all over anyone unauthorized who opens them. Although a Bitcoin ATM holds much less cash it's probably not got a dye spray installed inside it. They probably wanted the cash, and knew it would be easy to get out of the machine.

[AgentofCoin]

I don't think they understand how bitcoins work. Literally not worth it to steal a Bitcoin ATM. they prob think they can get the funds out somehow

My guess is this was stupidity.

I bet they thought there were actual physical bitcoins that could be taken out of the machine.
They heard about the price increase of bitcoin and said:
"yo bro, lets go to the store that has dat bitcorn atm and take da shiz, crack it open, and be rollin in da bitcorns".

[Raimonn]

I think that bitcoins atm made few transactions, and will have few fiat money inside. Possibly they can have more money if they sell the atm.

[Mickeyb]

Why some people steal Fiat ATMs? Out of complete idiocy. They can't get nothing from a Fiat ATM and I am sure that in the same way they can't get nothing from Bitcoin ATM as well. Bitcoin ATMs are as well protected as Fiat ATMs.

[ProfessionalGoogler]

I don't think they understand how bitcoins work. Literally not worth it to steal a Bitcoin ATM. they prob think they can get the funds out somehow

My guess is this was stupidity.

I bet they thought there were actual physical bitcoins that could be taken out of the machine.
They heard about the price increase of bitcoin and said:
"yo bro, lets go to the store that has dat bitcorn atm and take da shiz, crack it open, and be rollin in da bitcorns".

Wrong, they are after the cash people deposit in the ATM.

Use your head.

Still probably not worth.

Stupid of who ever created such a tiny ATM.

[7788bitcoin]

Physical cash and the material (scrap metal) are most likely the target of the steals.

[AgentofCoin]

I don't think they understand how bitcoins work. Literally not worth it to steal a Bitcoin ATM. they prob think they can get the funds out somehow

My guess is this was stupidity.

I bet they thought there were actual physical bitcoins that could be taken out of the machine.
They heard about the price increase of bitcoin and said:
"yo bro, lets go to the store that has dat bitcorn atm and take da shiz, crack it open, and be rollin in da bitcorns".

Wrong, they are after the cash people deposit in the ATM.
Use your head.
...

Oh yeah, is that what they told you?

[mr angry]

I don't think they understand how bitcoins work. Literally not worth it to steal a Bitcoin ATM. they prob think they can get the funds out somehow

My guess is this was stupidity.

I bet they thought there were actual physical bitcoins that could be taken out of the machine.
They heard about the price increase of bitcoin and said:
"yo bro, lets go to the store that has dat bitcorn atm and take da shiz, crack it open, and be rollin in da bitcorns".

Wrong, they are after the cash people deposit in the ATM.

Use your head.

Still probably not worth.

Stupid of who ever created such a tiny ATM.

I often wondered why Bitcoin ATMs are often tabletop sized which makes them easy to steal. Fiat ATMs are so big it needs a bulldozer to steal one. If a man can lift an ATM by himself then it's not big or heavy enough to be secure even if it's bolted down. It's easier to remove a few bolts than get hold of a bulldozer.

[Snorek]

I have no idea how bitcoin teller machines look exactly, but to robbers it sure was better target that standard ATM.
An now question: would you rather try to steal ATM owned by renowned bank or unknown machine owned by some guy who has office in his garage?
So it was not stupidity on part of the offenders it was actually better to aim for BTM.

[mr angry]

I have no idea how bitcoin teller machines look exactly, but to robbers it sure was better target that standard ATM.
An now question: would you rather try to steal ATM owned by renowned bank or unknown machine owned by some guy who has office in his garage?
So it was not stupidity on part of the offenders it was actually better to aim for BTM.

The first two are tabletop ATMs that look relatively easily movable. It wouldn't be too difficult to maneuver them into a getaway car. Opportunistic thieves would be tempted to steal machines that small.

   

The last Bitcoin ATM is the same size as most fiat ATMs and looks like it would need about four men, a crane, and a lorry to steal.

[SerenaL]

I have a feeling the people stealing these do not know or care about what bitcoins are. They are probably just some hooligans.

[Meuh6879]

people are poor, now.
logic. 

[AltcoinInvestor]

It could have been more profitable to put a card skimmer in there. I wonder how much cash they even got.

[Gleb Gamow]

Don't worry, the perpetrators WILL be caught. How, you ask? That's a stupid question! Via the low price point built-in GPS thingie that the security-conscience developers incorporated into the lightweight BTM that's frequently place near the entrance/egress of establishments where they're installed. Duhh!


"Welcome to Burger Shack. Just water? Let me get that for you, and next time please don't park so close to the entrance. This thing? That's a BTM. It takes your dollars and gives you bitcoins, emptied every Tuesday, like it will be tomorrow. I'll be right back with your water, sir."

[Velkro]

U never know for sure maybe they have some genius plan, maybe they are just plain stupid.
Anyway its next headline for bitcoin, so something good came up with it :|

[franky1]

people are poor, now.
logic. 

+1

its like asking why people would put card skimmers into machines for a maximum of $500 a day (give it 2 days and the account is frozen) for a maximum of a few customers .

its like asking why do people walk the streets for 12hours a day pickpocketing people for maybe $50 per wallet.

its like asking... why do people spend 12 hours a day raiding faucets to earn maybe $2 a day in bitcoin dust..

the answer is as explained by Meuh6879