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Author Topic: So lets see how bitcoin ATM's are doing  (Read 3502 times)
WikileaksDude
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October 31, 2013, 12:53:43 AM
 #1

World’s first Bitcoin ATM sees 81 exchanges, $10,000 in transactions during first day

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Operated by Las Vegas-based Robocoin and Vancouver-based Bitcoiniacs, the ATM scans your palm and allows you to exchange cash for Bitcoin, or do the reverse. Customers can make up to $3,000 worth of Bitcoin exchanges per day.

Source: http://www.geekwire.com/2013/world-bitcoin-atm-sees-81-exchanges-10000-transactions/
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October 31, 2013, 01:05:04 AM
 #2

I don't understand how this isn't bigger news on this site.  Amazing.

_Crypto made easier than cash_

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October 31, 2013, 01:10:31 AM
 #3

Good news!
I just retweeted it Smiley

Any news about when we're going to have one of this ATM in Europe?
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October 31, 2013, 01:17:38 AM
 #4

I expected a much higher amount than $10k. At least an order of magnitude higher. It seems a majority are dabbling in small amounts less than one bitcoin.

I guess it would look weird to be regularly seen stuffing $3000 in the machine, as I would have done if this were closer to where I live. Cheesy
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October 31, 2013, 04:45:07 AM
 #5

I suspect that the quantity will drop after the first day excitement dies down.

I doubt someone would use this regularly because the exchange price is quite a bit. You would likely use it if you were in the area and were low on cash or if you were traveling to Canada and did not bring canadian dollars.

One of these in every international airport would be wonderful though.

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Vod
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October 31, 2013, 04:51:20 AM
 #6

I doubt someone would use this regularly because the exchange price is quite a bit. You would likely use it if you were in the area and were low on cash or if you were traveling to Canada and did not bring canadian dollars.

Most Canadian places also accept US tender - for now.   Wink

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October 31, 2013, 04:56:10 AM
 #7

Biometric authentication sort of defeats the whole aspect of anonymity don't you think?



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perezoso
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October 31, 2013, 05:05:47 AM
 #8

Definitely not anonymous but I wonder how much the machine costs and what kind commission bite the maker wants...
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October 31, 2013, 05:20:45 AM
 #9

Definitely awesome  Smiley . Ease of acquiring bitcoin is only second to merchant adoption in importance. Definitely a great step forward.

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October 31, 2013, 07:57:38 AM
 #10

I don't understand how this isn't bigger news on this site.  Amazing.

In fact it's been around for a while Wink

https://bitcointalk.org/index.php?topic=244557.60

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October 31, 2013, 08:13:18 AM
 #11

Would love to see more of these. It's a huge step forward.

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October 31, 2013, 12:28:31 PM
 #12

I suspect that the quantity will drop after the first day excitement dies down.

I doubt someone would use this regularly because the exchange price is quite a bit. You would likely use it if you were in the area and were low on cash or if you were traveling to Canada and did not bring canadian dollars.

One of these in every international airport would be wonderful though.

The machine is charging 5% fee, right?

I'm sure you can change your foreign money in one normal exchanger or paying with your credit card for less than that 5%. So no point using bitcoin ATM (for that purpose) until they lower fees.
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October 31, 2013, 01:01:01 PM
 #13

World’s first Bitcoin ATM sees 81 exchanges, $10,000 in transactions during first day

Wow that's pathetic. What's that $100 dollar on an average day?
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October 31, 2013, 01:02:39 PM
 #14

I suspect that the quantity will drop after the first day excitement dies down.

I doubt someone would use this regularly because the exchange price is quite a bit. You would likely use it if you were in the area and were low on cash or if you were traveling to Canada and did not bring canadian dollars.

One of these in every international airport would be wonderful though.

The machine is charging 5% fee, right?

I'm sure you can change your foreign money for less than that. So no point until they lower it.
No point? Why are you ignorant?
Is it easier to withdraw FIAT from a normal ATM or from online using a service such as paypal or whatever? This literally takes a few minutes to get your cash, while going though exchanges, bank transfers and whatnot takes time.

Actually it takes over an hour.
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October 31, 2013, 01:06:30 PM
 #15

I suspect that the quantity will drop after the first day excitement dies down.

I doubt someone would use this regularly because the exchange price is quite a bit. You would likely use it if you were in the area and were low on cash or if you were traveling to Canada and did not bring canadian dollars.

One of these in every international airport would be wonderful though.

The machine is charging 5% fee, right?

I'm sure you can change your foreign money for less than that. So no point until they lower it.
No point? Why are you ignorant?
Is it easier to withdraw FIAT from a normal ATM or from online using a service such as paypal or whatever? This literally takes a few minutes to get your cash, while going though exchanges, bank transfers and whatnot takes time.

Actually it takes over an hour.

Do you need to wait one hour (6 confirmations) until you can withdraw cash? ROFL!
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October 31, 2013, 01:06:42 PM
 #16

Pathetic? For a currency that was created by an anonymous figure, adopted by the masses and resented by government entities I think not.
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October 31, 2013, 01:09:40 PM
 #17

I suspect that the quantity will drop after the first day excitement dies down.

I doubt someone would use this regularly because the exchange price is quite a bit. You would likely use it if you were in the area and were low on cash or if you were traveling to Canada and did not bring canadian dollars.

One of these in every international airport would be wonderful though.

The machine is charging 5% fee, right?

I'm sure you can change your foreign money in one normal exchanger or paying with your credit card for less than that 5%. So no point using bitcoin ATM (for that purpose) until they lower fees.

I read different articles in which a 3% fee is mentioned, not 5.

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October 31, 2013, 01:10:10 PM
 #18

Pathetic? For a currency that was created by an anonymous figure, adopted by the masses and resented by government entities I think not.

#define masses
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October 31, 2013, 01:11:50 PM
 #19

Pathetic? For a currency that was created by an anonymous figure, adopted by the masses and resented by government entities I think not.

Are you sure you are talking about the Bitcoin ATM?
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October 31, 2013, 01:12:40 PM
 #20

One of these in every international airport would be wonderful though.

Exactly.

Also  this are excellent to internationally send money very quick. Like Parents send money to their Kids that study in an foreign country f.e. 1 Confirmation in between, usually 10 minutes and it's done. If these are available widespread everyone basically can send cash into the entire World withing seconds in any currency.

And if they are successful, hopefully the fees also go down.

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