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Author Topic: The Bitcoin ATM Is Coming at a Location Near You???  (Read 1615 times)
jimbobway
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July 04, 2011, 09:50:20 PM
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http://www.bitcoinblogger.com/2011/07/bitcoin-atm-is-coming-at-location-near.html

If the cards fall into place bitcoin ATMs may be on the way.

There are many annoyances with bitcoin including the following:

1.) Bitcoins are very difficult to obtain on the Internet.
2.) It is near impossible for an average user to generate bitcoins with his or her computer.
3.) Technical skill is required to obtain bitcoins via an online exchange.
4.) If money is sent from a bank account to an online exchange then the transaction is no longer anonymous and that money can be traced.
5.) Sending cash in the mail for bitcoins could take days, weeks, or not at all and is unreliable.

What is the solution to these many problems? Multiple teams within the United States are attempting to build and distribute ATMs in mass quantities. ATMs will allow bitcoins to be distributed anonymously with cash without the need for an exchange. With bitcoin ATMs it will only be a drive away before an average person can buy bitcoins! The value of bitcoin will skyrocket once a non-technical user can buy bitcoins as easy as buying local goods.

There are many ways to distribute bitcoins with an ATM and each development team is handling them uniquely. I could explain in further detail in how these bitcoin ATMs would work, but to protect the business interests of my sources I am going to remain quite for now. Who will win the race to provide the best bitcoin ATM with the most locations?

Here is an early attempt of one team hacking open an eBay bought ATM:

http://biticon.wordpress.com/2011/03/31/bitcoin-atm/
http://biticon.wordpress.com/2011/04/16/atm-progress/
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RandyMarsh
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July 04, 2011, 09:56:07 PM
 #2

I love this idea, cant wait to use one

Stan?! STAN?!?!
Jaime Frontero
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July 04, 2011, 09:58:48 PM
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this would be a true game-changer.

it appears a bit early yet - but i certainly look forward to updates.

the thing that comes immediately to mind is this:  what is the exchange infrastructure behind this idea?  because really - without an exchange, there's just a well-tested ATM box.  the box isn't a challenge at all, and is actually kind of irrelevant, no?
TheOnly1
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March 29, 2014, 04:23:15 PM
 #4

We are glad to announce first permanent Bitcoin ATM of Switzerland!
It is an Lamassu ATM and it is locatet in downtown Zurich, in Cafe Schoffel, Schoffelgasse 7, 8001 Zurich.

Cafe Schoffel also is accepting Bitcoins (As one of the first Restaurants in Switzerland).

Please drop in, when you are in Zurich.

Virtual currency is the "Next big thing" after the Internet...
Taras
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March 29, 2014, 07:17:06 PM
 #5

Wow, what a great project! Cheesy
Hopefully we'll see some ATM's in the Chicago/Milwaukee area.
See, if we can make them dirt cheap, then we'll see them all over town Grin

bandadna
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January 01, 2018, 12:23:11 PM
 #6

I hope to see a bitcoin ATM near my location soon, but unfortunately I can't find any right now...  Sad
What is the best source to find bitcoin ATM locations? I just know about https://banks-nearme.com/bitcoin-atm-near-me/.
Thanks.
Lucius
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January 01, 2018, 12:50:49 PM
 #7

http://www.bitcoinblogger.com/2011/07/bitcoin-atm-is-coming-at-location-near.html

If the cards fall into place bitcoin ATMs may be on the way.

There are many annoyances with bitcoin including the following:

1.) Bitcoins are very difficult to obtain on the Internet.
2.) It is near impossible for an average user to generate bitcoins with his or her computer.
3.) Technical skill is required to obtain bitcoins via an online exchange.
4.) If money is sent from a bank account to an online exchange then the transaction is no longer anonymous and that money can be traced.
5.) Sending cash in the mail for bitcoins could take days, weeks, or not at all and is unreliable.

What is the solution to these many problems? Multiple teams within the United States are attempting to build and distribute ATMs in mass quantities. ATMs will allow bitcoins to be distributed anonymously with cash without the need for an exchange. With bitcoin ATMs it will only be a drive away before an average person can buy bitcoins! The value of bitcoin will skyrocket once a non-technical user can buy bitcoins as easy as buying local goods.

There are many ways to distribute bitcoins with an ATM and each development team is handling them uniquely. I could explain in further detail in how these bitcoin ATMs would work, but to protect the business interests of my sources I am going to remain quite for now. Who will win the race to provide the best bitcoin ATM with the most locations?

Here is an early attempt of one team hacking open an eBay bought ATM:

http://biticon.wordpress.com/2011/03/31/bitcoin-atm/
http://biticon.wordpress.com/2011/04/16/atm-progress/

If data on this link are accurate https://coinatmradar.com/country/226/bitcoin-atm-united-states/ then in this moment there is a 1290 ATMs in USA and this is the largest number of BTC ATMs in one country.This is for some easy way to buy/sell BTC,but in most cases very expensive way because of high fees(average 9.21%).

Every initiative that can help in a way that BTC becomes more accessible is commendable,but current situation with high fee and slow transaction+fee taken by service make purchases of BTC through ATMs very expensive.

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DesmondHayes
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January 01, 2018, 01:00:59 PM
 #8

Bitcoin ATM is the great solution for the fast transaction when the FIAT money is needed. There are more and more ATMs that are being put in the right place every day. Many of the people without proper knowledge about cryptos are often mistaken when they see the ATM. They try to use it to pull the FIAT money from their bank and they are not aware that its purpose is only for the Bitcoin. Bitcoin ATM flaw is only the high transaction fee that is usually 10 percent of the whole value that the user of the ATM is cashing out. I personally still haven't used ATM myself but in the future, I will for sure. My city has a couple of ATMs and the improvement of technology will probably pull more people into the trading crypto market and that will result in many more users of the ATMs.

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Freyya08
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January 01, 2018, 11:42:35 PM
 #9

This is a good idea for me. It will be very accesible for everybody. But i think its not going to happen yet anytime soon. But maybe in the near future as technology arises.

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KimPhuong
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January 08, 2018, 05:49:51 AM
 #10

http://www.bitcoinblogger.com/2011/07/bitcoin-atm-is-coming-at-location-near.html

If the cards fall into place bitcoin ATMs may be on the way.

There are many annoyances with bitcoin including the following:

1.) Bitcoins are very difficult to obtain on the Internet.
2.) It is near impossible for an average user to generate bitcoins with his or her computer.
3.) Technical skill is required to obtain bitcoins via an online exchange.
4.) If money is sent from a bank account to an online exchange then the transaction is no longer anonymous and that money can be traced.
5.) Sending cash in the mail for bitcoins could take days, weeks, or not at all and is unreliable.

What is the solution to these many problems? Multiple teams within the United States are attempting to build and distribute ATMs in mass quantities. ATMs will allow bitcoins to be distributed anonymously with cash without the need for an exchange. With bitcoin ATMs it will only be a drive away before an average person can buy bitcoins! The value of bitcoin will skyrocket once a non-technical user can buy bitcoins as easy as buying local goods.

There are many ways to distribute bitcoins with an ATM and each development team is handling them uniquely. I could explain in further detail in how these bitcoin ATMs would work, but to protect the business interests of my sources I am going to remain quite for now. Who will win the race to provide the best bitcoin ATM with the most locations?

Here is an early attempt of one team hacking open an eBay bought ATM:

http://biticon.wordpress.com/2011/03/31/bitcoin-atm/
http://biticon.wordpress.com/2011/04/16/atm-progress/

At my place in HCM City, ATMs have been shown to remove Bitcoin to VND, and from there you can standardize, so everywhere in the world it is easy to find an ATM with bitcoin. Is the reason I advise you not to care about it and your job that is how to own so many btc!
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