Lamassu Sells 100th Bitcoin ATM

[Peter R]

Here's a link to the press release from today (Dec 30, 2013): http://www.digitaljournal.com/pr/1659634 , and here's a link to a map showing confirmed locations where some of these machines will be placed: https://lamassu.is/maps/ .

I think this is another example of how active the bitcoin community is "behind the scenes" regardless of whether the price is rallying or falling, and regardless of whether the media is in a frenzy or keeping quiet.  When I learned that the Robocoin ATM installed at Waves in Vancouver did $1,000,000 of transactions in its first month (http://blog.robocoinkiosk.com/2013/11/26/robocoin-exceeds-1000000-cad-transaction-volume-on-29th-day-live/comment-page-1/), I wondered why we weren't seeing similar machines roll out world-wide.  I think we now know that they are in fact on their way.  I expect bitcoin ATM infrastructure to build-out across the (western) world in 2014, making it much easier for the average person to participate in the bitcoin experiment.  

[chalkyuk]

great news just need them in the UK now

[tyler27]

I would multiply that number at least by 100 for the end of 2014 

[Peter R]

I would multiply that number at least by 100 for the end of 2014  

It is interesting to ponder how many ATMs will be deployed in the wild by the end of 2014.  Lamassu has sold 100 now, and they appear constrained by manufacturing, as opposed to limited by sales.  From my experience, I know that the next 500 machines are usually a lot easier than the first 100, so I expect they will soon be able to ramp up production quite effectively.  Add in RoboCoin and some new players I've yet to learn about, and I think 1,000 machines by this time next year is possible.  

If the ATMs average $1,000,000 of sales (the RoboCoin in Vancouver did this much in 29 days [albeit in the middle of a bubble growth spurt]), then this means ~$1,000,000,000 of new demand.  My rough estimates suggests a 5 - 10X multiplier for the effect on market cap.  For this reason, I would imagine the bitcoin market cap to increase by > $5,000,000,000 (holding all other variables constant) should 1,000 ATMs be deployed across the (western) world.  

[GigaCoin]

Awesome!

[Welsh]

I thought this was interesting too. There has been multiple attempts in the whole ATM business and many have failed. This seemed to be promising from the start being very transparent to questions and took peoples advise. I'm glad to see more coverage of the ATM. But, I would be more interested in seeing a lot more permanent places for them. At the moment a lot of people are not keeping them in one place which is a shame.

Maybe, the Bitcoin embassy should look into this and have one there which could get peoples attention and media attention too.

[drmadison]

According to that map there should be 1-2 here in San Francisco...can't wait to see where they pop up (and to start using it!)

[zagerfish]

I wonder if they will all read fingerprints or have other means for checking identity.

___________________________________
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[LiteCoinGuy]

i guess this atm has no checks for identity because you can only buy btc but not cash out € or USD etc (maybe iam wrong with the identity)

[Welsh]

i guess this atm has no checks for identity because you can only buy btc but not cash out € or USD etc (maybe iam wrong with the identity)

What I have read there has been no mention of requiring identity. I don't think it would be necessary because you can only buy Bitcoin.

[oxxymoronn]

This is just fantastic news!

[battlescars]

there is no way that this news can be bad for bitcoin haha, in one simple term the more bitcoin atms, the more usage
the more usage the more bitcoin has exposure and the value will rise making it better for me:D
the more the merrier when it comes to bitcoin atms right.

[jantenner81]

wow

[btcprice]

How long ago was it that the first one opened?

Hopefully that one will be preserved and it will end up in a museum some day.

[LiteCoinGuy]

round about 3-5 months

[theecoinomist]

It's about time we get one in Amsterdam and I already expected one in Berlin.

Still good to see these ATM's are spreading. 

I would love to have one installed in those places since there is a massive market for it (in Amsterdam & Berlin), sadly I'm not located there so I expect alot of regulative barriers and it would probably be troublesome to operate it from a distance as well.

[RomertL]

I guess China would be a good place if the government would let you...which I guess they wouldn't