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jethrorn99
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January 09, 2016, 02:25:19 PM |
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Bitcoin is still a rare thing to public, heck there's a lot of people that dont know bitcoin.
The user of the ATM will be low, soo it will not be profitable
Agree, but the point of building Bitcoin ATM in the first place is to introduce people to Bitcoin  I think we should build more ATM in public places just for people to see and hopefully use Would be a good idea if we all meet at one ATM and then we try to promote that ATM to peoples there  It's better to advertise bitcoin worldwide to a lot of people first. After a lot of people know and use bitcoin, then Bitcoin ATM will surely pop up in a lot of public places |
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"You Asked For Change, We Gave You Coins" -- casascius
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mtnsaa
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January 09, 2016, 02:28:35 PM |
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Correct me if I'm wrong but what is the purpose of these ATMs besides the novelty? Doesn't something like the Xapo debit card acts as a bridge already? I know many don't like how it works compared to other wallets but if we want mainstream adoption more user friendly systems and sites like this need to emerge.
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Denker
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January 09, 2016, 02:38:25 PM |
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The number of Bitcoin ATMs is constantly growing. http://www.statista.com/statistics/343127/number-bitcoin-atms/Just alone from december 2015 with a total of 486 to today, january 9th 2016, 52 more ATMs had been installed to a total of 538 worldwide.That is the biggest increase on a monthly basis ever!!! |
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defaultking
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January 09, 2016, 02:56:15 PM |
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Noon question but it a bitcoin atm a way to use money to buy bitcoins or can you deposit bitcoins to withdraw money. If they can't do both that's a big weakness to me.
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teddy5145
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January 09, 2016, 03:04:33 PM |
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Noon question but it a bitcoin atm a way to use money to buy bitcoins or can you deposit bitcoins to withdraw money. If they can't do both that's a big weakness to me.
I never use the ATM but from what i understand you can both withdraw your BTC to money or Deposit your money that will be turned to BTC There's many videos on youtube on how these thing works, should probably check that for a better understanding  |
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gentlemand
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Welt Am Draht
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January 09, 2016, 03:39:40 PM |
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I can imagine maintaining a business bank account is hard work in a lot of places. I don't think a dedicated ATM will ever be much of a money spinner or very attractive for customers. A voucher system from regular shops like mobile phone credit makes far more sense. There've been a few attempts. I dunno how many have lasted.
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BTCBinary
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January 09, 2016, 04:02:13 PM |
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We aren't seeing too many BTC ATMs pop out because it is almost a non profitable business to instal one. That's why the majority of people chooses to put their Bitcoin in other type of investments!
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Mr. Forum
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January 09, 2016, 05:36:38 PM |
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Bitcoin is still spreading and you do not expect to have the ATM shooting rapidly when compared to other financial institutions. I am so sure that this is a good year for us and we are going to grow as the bitcoin family. With seeing some countries accepting the bitcoin as foreign currency, it shows that there are hopes that we will spread and be used across the globe. Being a formal currency means that we will have more persons using the coins and hence the increase in atms. It is all a matter of time buddy, all will be well.
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Fidemoga
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January 21, 2016, 04:30:07 PM |
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Because bitcoin ATM isn't profitable at all. High machine & maintenance cost while most people don't use it regularly.
This ATM can be available (and might be profiable) if most people & merchant around it use or accept bitcoin.
Also, i think we don't really need bitcoin ATM expect we're desperately need it. High fees, non-anonymous & can't do both buy and sell bitcoin are also serious problem.
Better see merchants accept bitcoin before see bitcoin ATM.
There are not many people using the bitcoin so the per user cost is very high for the ATM operators. It is not worth it. |
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romero121
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January 21, 2016, 05:24:15 PM |
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Because bitcoin ATM isn't profitable at all. High machine & maintenance cost while most people don't use it regularly.
This ATM can be available (and might be profiable) if most people & merchant around it use or accept bitcoin.
Also, i think we don't really need bitcoin ATM expect we're desperately need it. High fees, non-anonymous & can't do both buy and sell bitcoin are also serious problem.
Better see merchants accept bitcoin before see bitcoin ATM.
There are not many people using the bitcoin so the per user cost is very high for the ATM operators. It is not worth it. The number of users is getting increased, major group of users can't be found in a specific place so an ATM can't be opened at that place. This is the major cause for why we aren't seeing much ATM popping up. |
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pinoycash
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January 21, 2016, 05:27:21 PM |
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Luckily Coins.ph partnered with a bank here on the Philippines , and we can withdraw BTC from wallet to ATM instantly.
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RodeoX
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The revolution will be monetized!
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January 21, 2016, 05:32:02 PM |
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In the U.S. the answer can be found in the question "Do you have a money transmitter license?" And if you want to expand you will need one for each state. Some states charge millions of dollars for this license.
Another historic vestige of bank power, a law to keep the "little man" (that's you and me) out of the money.
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Kevin77
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January 23, 2016, 03:00:57 PM |
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We aren't seeing too many BTC ATMs pop out because it is almost a non profitable business to instal one. That's why the majority of people chooses to put their Bitcoin in other type of investments!
But BTMs must be established for the success and propagation of the bitcoin ecosystem. It is not enough that the making of their ATM will depend on their internet users they attract through internet, there should also be need that they come out to the real as faster as they can. |
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xdrpx
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January 23, 2016, 03:15:43 PM |
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From what I've gathered based on knowing prices of Bitcoin ATM units, is that they're quite expensive to setup, and not all country's Governments allow private parties to setup a Bitcoin ATM, usually a regulator's authorization and permission would be required for it.
Also, people can easily access Bitcoin exchanges from their homes and trade effortlessly than finding for an ATM.
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nydiacaskey01
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January 27, 2016, 08:18:55 AM |
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This Bitcoin ATM will not show up definitely in Countries where Bitcoin is not yet accepted or not yet mainstream. Furthermore, there is an investment attached to installing Bitcoin ATM's like electricity and lease of a small space where large number of people passes by.
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romero121
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January 27, 2016, 10:59:20 AM |
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This Bitcoin ATM will not show up definitely in Countries where Bitcoin is not yet accepted or not yet mainstream. Furthermore, there is an investment attached to installing Bitcoin ATM's like electricity and lease of a small space where large number of people passes by.
Bitcoin ATM's can be seen only if lot of users get increased. When user gets increased over every country, probably corporate will start opening bitcoin ATM's at least over the major cities. The benefit we get is when Bitcoin ATM's get operated automatically transfer charge get reduced |
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MedaR
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January 27, 2016, 02:38:39 PM |
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Private investors will realise this is good opportunity for investments and this is just a matter of time when ATMs will be normal things in every country..
People still have little fear and looking to government when they thinks about Bitcoin, this is human nature fear of unknown.
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MedaR
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January 27, 2016, 02:43:14 PM |
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But lack of ATMs do not need to be a bad thing at the moment.
You always can use those exchanges , also there is lot of people that for small fee wants to buy every shatoshi you have.. AtMs are very convenient , but adoption is better thing!
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allthingsluxury
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January 27, 2016, 03:09:03 PM |
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I personally would like to see more of them as well. I'd like to see some usage reports. Hopefully its not due to a lack of interest and use.
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jethrorn99
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January 27, 2016, 03:40:26 PM |
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I personally would like to see more of them as well. I'd like to see some usage reports. Hopefully its not due to a lack of interest and use.
The problem is that there's still not enough people to use Bitcoin ATM. The maintenance price is going to be higher than the profit. Maybe in the future it's possible , but for now? nah. |
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