ansarose1
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August 08, 2018, 07:58:54 AM
Last edit: August 08, 2018, 08:15:42 AM by ansarose1 |
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I think that there will be much more conviniency if a country legallizing bitcoin has an atm machine on it. This is great for the bitcoin enthusiast, as for nigeria it is good to them that they can withdraw their bitcoin as well.
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audaciousbeing
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August 08, 2018, 08:02:32 AM |
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Bitcoin Automated Teller Machine (ATM) is a good development but I don't see it being sustained in the near future. The reason why its a big relief for the fiat economy is because the cost of going to the bank to queue in other to have access to your own funds, the cost of hiring more bank workers to attend to this customers, the cost of having to build larger structures, branches and security to cater for the customers, outweigh the cost of using the ATM machines but for bitcoin, all of these costs have been covered and reduced to a large extent.
I don't see anyone who wants to buy or sell bitcoin and ATM machines is the first choice considering the availability of several options. We have exchange sites that allow fiat deposits which can be done from the comfort of your room, you can visit peer to peer sites and get things done, you can also have group of traders in your locality that would make things more easier without even putting into consideration the premium that would be placed on buying and discount that would be placed on selling by the ATM operators.
In Africa, the larger question that remain unanswered is who will regulate the activities of this ATM and unless there is a backing by a reputable bank with the support of the Central Banks, its not coming anytime soon.
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jmvzlfyg
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August 08, 2018, 08:03:19 AM |
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The latest news I've heard is that a lot of big cities in Europe have started to decorate these ATMs, and last month dozens of machines were installed in Switzerland. Although I don't know which organization is set up, with the expansion of the encrypted community, there will be more bitcoin ATM in some densely populated cities in Africa.
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chidrawarster
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August 08, 2018, 08:14:03 AM |
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Before Bringing the btc atm to Nigeria, first the technology has to be on place and also the necessary infrastructure required for that. We all know that this country is backward in terms of technology hence the forecast of technology should be intact before the blockchain technology is implemented and later on people can be made aware of crypto currencies and all. I suggest we all should support for this cause and make people aware everyday about the crypto space.
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hometester
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August 09, 2018, 05:51:39 AM |
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for any technology the main task is liquidity. in this case, I see this news as excellent
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Kocret02
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August 09, 2018, 06:03:42 AM |
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I think this is the best step to promote bitcoin in Africa, because I am sure that with the presence of atm in Nigeria it can definitely make bitcoin develop in that country.
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poldanmig
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August 09, 2018, 06:07:28 AM |
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Bitcoin is a digital currency that is decentralized with no regulatory control. Over the years a number of Bitcoin ATM boot have sprang up in some developed and emerging economies. Since bitcoin is a digital currency I don't understand the rationale behind the creation of bitcoin ATM with so many crypto exchanges around the globe.
Now which organisation is responsible for the setup of this ATM machine? What is the benefits of having a bitcoin ATM in Nigeria?
maybe with the making of the machine makes it easier for the transaction process and the possibility of a time when bitcoin can be accepted by all countries as a currency that can be used for transactions then the ATM machine will be created a lot |
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billy4u
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August 09, 2018, 07:17:46 AM |
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If this is true, then it is a step in the right direction. Most people believe more in physical things they see around. The fight against bitcoin by Fiat currency needs these innovations to counter them. Even if the Bitcoin ATM machine does not serve its purpose entirely, the publicity and advertisement it will give alone will achieve something special for bitcoin
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Kakmakr
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August 09, 2018, 07:25:20 AM |
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Bitcoin is a digital currency that is decentralized with no regulatory control. Over the years a number of Bitcoin ATM boot have sprang up in some developed and emerging economies. Since bitcoin is a digital currency I don't understand the rationale behind the creation of bitcoin ATM with so many crypto exchanges around the globe.
Now which organisation is responsible for the setup of this ATM machine? What is the benefits of having a bitcoin ATM in Nigeria?
A Bitcoin ATM is all about convenience and making it easier for the average person to get access to bitcoins. Let's imagine a situation where you run out of bitcoins, while you are shopping and you quickly want to buy some coins, without having to access a computer and a exchange or buying from some shady person in a back alley.  You can just walk up to this Bitcoin ATM in a public space and insert some cash and get some bitcoins. Safer and easier than having to search for a internet connection and access to your exchange and your Bank account. |
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Betty10
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September 06, 2018, 02:28:59 AM |
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Having a bitcoin ATM in Nigeria can help motivate people interest about bitcoin thereby causing them to try to find out how the innovation works. It will help the economy too. Africa really need to act fast in bitcoin adoption.
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Thundermike
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September 29, 2018, 10:15:56 AM |
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ATMs also act as a cryptographic campaign, and the public will better understand cryptography through ATM, as ATM uses the same method as ATM Bank. As a result, bitcoin ATMs are being set up to prevent long delays and breakdowns at the trading floor. Meaning is simple advertising and commission. So an ATM for BTC will be fine; a friendly development.
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bright4mech
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September 29, 2018, 11:02:27 AM |
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Bitcoin is a crypto currency and also the king of All alt-coin in the world, therefore in creation of ATM Machine installation here in Nigeria, i bitcoin usage is more preferred, because the value and potential, which is has more popular usage than any other alt-coin.
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bolbau
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September 29, 2018, 11:37:21 AM |
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i dont think bitcoin atm machine is really needed, especially for third world country like Nigerian. because theres not enough people that really interested and want to join this kind of industry. in addition, the use of atm machines is very contrary to the digital currency concept itself, which functions for ease of transactions, not the same as conventional concepts that require people to come to a place. but if indeed bitcoin atm machine is able to be made in Nigeria, this is good news for the cryptocurrency community.
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WhiteGAN
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September 30, 2018, 11:09:07 AM |
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If people can withdraw money equivalent to Naira's money from these machines, that would be great, plus Nigeria is certainly encouraged as more and more people from this region continue to enter the market. Encoding every day. I think this is more for promoting and creating awareness about bitcoin rather than focusing on its actual use.
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jpnl0005
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September 30, 2018, 07:00:36 PM |
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I find this very hard to believe that there are bitcoin atm in nigeria and this is my reason that country is underdeveloped and the technology system has no such upgrade to handle such much more time will be needed for that to function properly in that country
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pixie85
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September 30, 2018, 07:10:08 PM |
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I find this very hard to believe that there are bitcoin atm in nigeria and this is my reason that country is underdeveloped and the technology system has no such upgrade to handle such much more time will be needed for that to function properly in that country
Because there is none. If you google it there are no active ATMs in Nigeria at the moment. There are ways to exchange Bitcoin but still no ATMs. https://coinatmradar.com/country/156/bitcoin-atm-nigeria/If I was a merchant there i'd be afraid to invest 10000 USD in a machine that can be stolen the next day by some gang. Nigeria is not the safest place if you're wealthy or want to start a business. |
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AlexAtom
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October 01, 2018, 04:47:39 AM |
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Bitcoin is a digital currency that is decentralized with no regulatory control. Over the years a number of Bitcoin ATM boot have sprang up in some developed and emerging economies. Since bitcoin is a digital currency I don't understand the rationale behind the creation of bitcoin ATM with so many crypto exchanges around the globe.
Now which organisation is responsible for the setup of this ATM machine? What is the benefits of having a bitcoin ATM in Nigeria?
Having bitcoin ATM will benefits the bitcoin and the holders of bitcoin of course, because they can use bitcoin more easily. Bitcoin ATM will create some public awareness too, peoples will see the ATM and they will ask how to use that. |
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KirunBarber
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October 01, 2018, 05:23:26 AM |
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for the existing bitcoin ATMs, I think this belongs to a group, they have organizations and even projects. the responsibility for the responsibility already exists on the project. just like the website exchanger, there are teams that work there. for benefits I think to facilitate transactions to their real money.
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klien_br
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October 01, 2018, 05:27:12 AM |
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So bitcoin ATM's are really spreading much rapidly.
I remember at the starting there were few bitcoin ATM's in the whole world and they are really increasing day by day. This is a good sign and hope that nigeria increases there support for bitcoins after launching their bitcoin ATM.
I am actually waitig for my country to start such ATM soon.
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chidrawarster
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October 01, 2018, 05:39:54 AM |
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Such news are a boon to Nigeria and the transformation from underdeveloping to developing countries tag needs a lot of efforts to be done on the ground.I still believe btc will be a boon in developing the economy and also their blockchain technology would help them in developing in many sectors. I strongly believe that Nigeria also will see such many more ATM in the future to make the conversion process fast and make cash easy for people so that they can have their survival.
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