USA Bitcoin ATMs being destroyed. By gangs or by competitors?

[OROBTC]

...

Here's a story I just caught with a pictured of a destroyed Bitcoin ATM in Northern Virginia:

https://www.reddit.com/r/Bitcoin/comments/5s3cbl/over_a_year_ago_i_discovered_a_batm_was_6_miles/

Apparently dozens of machines have been vandalized in the Midwest:

http://www.coindesk.com/bitcoin-atms-attacked-hammers-us-midwest/


This is disturbing news.  Where are the cops?

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[Wendigo]

Among the allegations, is that those involved in the scheme attempted to extort other bitcoin ATM operators by requesting digital currency payments in return for protection. The complaint cites one bitcoin ATM operator who paid the demanded sum.

Damn racketeers offering Bitcoin ATM protection in exchange for money this is something I haven't heard of before lol. But the crime rate in Detroit and Chicago is pretty high so it's no wonder that enterprising thugs find new ways to accumulate money.

[calkob]

Whats the point in destroying the ATM? even if they are trying to steal shit the bitcoin arnt even there .....lol

[LeGaulois]

A similar story happened in Canada recently. I think the reason is because it is more easy to target for those criminals. Now all ATM have trackers, or explose when the machine is hit, some even color the notes in purple with a special product so the money is unusable. They really invented new things to try to fight those types of criminals. After those implementations they started to target the people transporting the funds in their trucks.Then after a lot of report of attacks, some of those companies use anonymous trucks and the guys don't wear uniforms, they just try to look like random guys

[franky1]

Whats the point in destroying the ATM? even if they are trying to steal shit the bitcoin arnt even there .....lol

its not about stealing bitcoin its more about these possible scenario's(top of list most relevant)
1. gangland protection blackmail
2. gangs have their own BTM's and destroying the competitor
3. gangs that lose value on a price dump and take it out on the BTM

[OROBTC]

Whats the point in destroying the ATM? even if they are trying to steal shit the bitcoin arnt even there .....lol

its not about stealing bitcoin its more about these possible scenario's(top of list most relevant)
1. gangland protection blackmail
2. gangs have their own BTM's and destroying the competitor
3. gangs that lose value on a price dump and take it out on the BTM

That's an interesting set of comments which may very well be true to one degree or another.

In my city, the BTC ATMs I have visited and used are mostly in parts of town where the demand for both CA$H and BTC is very high...  Not the best parts of town, using mild words.  I have met some interesting characters at the BTMs...

1. "Protection" money being extorted from BTC ATM owners: very possible.

2. I am guessing the gangs here in my city do not have their own BTC ATMs, but have not looked into that possibility.

3. Maybe gangsters would be pissed off whenever BTC takes a price dump after they have bought.

[shinratensei_]

Whats the point in destroying the ATM? even if they are trying to steal shit the bitcoin arnt even there .....lol

its not about stealing bitcoin its more about these possible scenario's(top of list most relevant)
1. gangland protection blackmail
2. gangs have their own BTM's and destroying the competitor
3. gangs that lose value on a price dump and take it out on the BTM

That's an interesting set of comments which may very well be true to one degree or another.

In my city, the BTC ATMs I have visited and used are mostly in parts of town where the demand for both CA$H and BTC is very high...  Not the best parts of town, using mild words.  I have met some interesting characters at the BTMs...

1. "Protection" money being extorted from BTC ATM owners: very possible.

2. I am guessing the gangs here in my city do not have their own BTC ATMs, but have not looked into that possibility.

3. Maybe gangsters would be pissed off whenever BTC takes a price dump after they have bought.

And every bitcoin atm are needed using the ballistic glass soon.

It will make them will be feeling stressful.  But the bank will take the advantage from this cases. the bank will glad to watch more batm will being destroyed by the fuckin gangster.

[instacalm]

Without more background information on each particular case of Bitcoin-ATMs being destroyed it's hard or impossible to say who is behind this. At the end of the day it could just be frustrated folks and/or people with severe mental issues who destroy said ATMs. It could also be attempts to steal money. Whatever it is, it sure is a sad phenomenon. Bitcoin ATMs should be treasured and cared for by the public.

[franky1]

2. gangs have their own BTM's and destroying the competitor

That's an interesting set of comments which may very well be true to one degree or another.
2. I am guessing the gangs here in my city do not have their own BTC ATMs, but have not looked into that possibility.

the coindesk article

Their goal, the lawsuit alleges, is to put other operators at a disadvantage through extortion and destruction of property.

[royalfestus]

Without more background information on each particular case of Bitcoin-ATMs being destroyed it's hard or impossible to say who is behind this. At the end of the day it could just be frustrated or people with severe mental issues who destroy said ATMs. It could also be attempts to steal money. Whatever it is, it sure is a sad phenomenon. Bitcoin ATMs should be treasured and cared for by the public.

I think the machine should be strategically in town where security can be provided. and owners of the machine should inform the security agent except the government is against the use of bitcoin in the community. more so alert should be created in the media to encourage users to use more in the day.

[Huge Black Woman]

frustrated or people with severe mental issues

Thissa rite here is about what mah own brain came up wit.  This worl' is big, an' they a lotta crazy ass folks in it, folks who'd destroy an ATM jist as easily as lookin' atcha.  Some people beat up machines jist ta hear 'em squeal.  Jist fo' the fun of it!

[_nur]

maybe the feds... maybe it's george soros

[European Central Bank]

Is there really any money to be made with atms?

I assumed it would be peanuts. Certainly not enough to attract maniacs.

[franky1]

Is there really any money to be made with atms?

I assumed it would be peanuts. Certainly not enough to attract maniacs.

knowing the exchange rate "spread" between exchanges can be a couple %.. they can play that to pretend that they dont charge fee's while just showing a slightly greedy spread.
or charge a fee and also take the spread too

some BTM's can make upto 5% that way without disclosing its upto 5%

[clickerz]

Whats the point in destroying the ATM? even if they are trying to steal shit the bitcoin arnt even there .....lol

its not about stealing bitcoin its more about these possible scenario's(top of list most relevant)
1. gangland protection blackmail
2. gangs have their own BTM's and destroying the competitor
3. gangs that lose value on a price dump and take it out on the BTM

That's an interesting set of comments which may very well be true to one degree or another.

In my city, the BTC ATMs I have visited and used are mostly in parts of town where the demand for both CA$H and BTC is very high...  Not the best parts of town, using mild words.  I have met some interesting characters at the BTMs...

1. "Protection" money being extorted from BTC ATM owners: very possible.

2. I am guessing the gangs here in my city do not have their own BTC ATMs, but have not looked into that possibility.

3. Maybe gangsters would be pissed off whenever BTC takes a price dump after they have bought.

That is most likely the possible scenario,extorting the BTM's investor in return for protection or this group of personality/ganster are being paid by competitor.Easy money for them, but its a huge loss for the BTM's owner. So sad that people are doing things to make bitcoin become mainstream but some are  greedy enough to hinder this purpose.

[cpfreeplz]

It was an order by trump because the pieces of the ATMs were made in China this they are banned. Hahahaha either that or it was just some punks trying to hack them then got mad and vandalized them when they couldn't. The cops probably won't do anything. Why would they? Bitcoins are only used by criminals after all.

[Vaskiy]

It was an order by trump because the pieces of the ATMs were made in China this they are banned. Hahahaha either that or it was just some punks trying to hack them then got mad and vandalized them when they couldn't. The cops probably won't do anything. Why would they? Bitcoins are only used by criminals after all.

That might be true, just to show the opposition to China they could have done that. But what the News describes is that a protester supporting bitcoin to be the currency started protesting and in a short more than 150 people joined hands and which shortly got end with violence.

[DaddyMonsi]

Extortion maybe is the reason why those gangsters are targeting those Bitcoin ATMs but to the owners of this Bitcoin ATM, why place the ATMs where it can be accessed freely by anyone. I know that that aim of having an ATM anywhere is for ease of access to ready cash or Bitcoin but the owners of this ATMs have to consider security not only for the users but also for the machine it self. Great place to place this ATMs are inside malls.

In my country, there is a group who targets distribution lines of power companies. They ask for money in exchange that they don't get their towers to be bombed.

[Juggy777]

This is really sad news, I feel it's the work of multiple people one of them would be the white collar banks who are fearing for their business, and want to make sure that Bitcoins atm don't rival them around. Secondly the hooligans might be doing it to make extra cash and possibly extortion, like imagine if they were paid in Bitcoin that's some crazy amount of money. I believe this is a attempt to make sure people stay away from Bitcoin and in the process get Bitcoin a bad name by saying look it causes violence, but this all cheap tactics won't really work, it will back fire for sure.

[Gembul]

's not too surprising to me, we know bitcoin has not been accepted by some people. Some countries prohibit the circulation bitcoin in their country. I think it is difficult to find out who is responsible for it. But it could also just as ganster who want to take money in the atm. All possibilities can happen and only god knows. Thank you