Biggest Shopping Mall in USA Goes All in BTC ATMs for Holiday

[Tronx]

This is the biggest News for the adoption of bitcoin.  Time for bitcoin everywhere.  

“With the strategic timing of this new installation of Bitcoin ATMs at Simon Mall locations, customers can conveniently buy Bitcoin while doing their Black Friday and Christmas holiday shopping. Bitcoin is the perfect gift for family and friends this holiday season. Our Bitstop Bitcoin ATM mall locations are at the forefront of a trend as Bitcoin and digital currencies become part of the mainstream culture.”

This is another series of marquee locations after our recent Bitstop Bitcoin installation at the Miami International Airport back in October. We want to make sure our customers always have convenient access to our Bitcoin ATMs.
There are now over 130 convenient Bitstop Bitcoin ATM locations across the country, with many more growing every month. We intend to expand our Bitstop network to include 500+ locations by the end of 2020.”

Source: https://dailyhodl.com/2019/11/26/largest-shopping-mall-operator-in-the-us-goes-all-in-on-bitcoin-atms-for-holiday-shoppers/

[Kprawn]

Having the Bitcoin ATMs there is all good and well, but if the people are just buying to spend it at merchants that would convert it to Fiat, then it

would have zero influence on the price. True adoption needs more P2P trades without these ATMs adding high fees for the transactions. Do not get

me wrong, I am not saying it is totally bad for adoption... I am just saying that it is not the ideal method to put bitcoins into people's wallets. Now

the shops in the Mall should just give extra discounts for people paying in bitcoins...then we will see good adoption taking place there. 

[electronicash]

problem with these kind of news is that its old and it doesn't affect the price now no matter how much adoption it promotes. nothing new to these news, we can't even verify its truthfulness. but congrats to the mall.

Having the Bitcoin ATMs there is all good and well, but if the people are just buying to spend it at merchants that would convert it to Fiat, then it

would have zero influence on the price. True adoption needs more P2P trades without these ATMs adding high fees for the transactions. Do not get

me wrong, I am not saying it is totally bad for adoption... I am just saying that it is not the ideal method to put bitcoins into people's wallets. Now

the shops in the Mall should just give extra discounts for people paying in bitcoins...then we will see good adoption taking place there. 

i find it good to actually have BTC ATMS and allow people to have btc in their wallets but at least the ATM will put some information about how much money they could potentially profit is they hold BTC and spend cash instead.

[Micerker]

I don't think bitcoin is fit for this situation. transfer fee would be too high for a small amount of money, other kind of altcoins would be great.
anyway, things are going wild there. happy to see cryptocurrency's being applied

[YuginKadoya]

It can be great that something like this can pop up and it will be pretty convenient if anyone would want to buy anything or if they are needing money to buy for an emergency but in my opinion, this is not the right time of the year where the price seems bearish at the moment, this would just encourage people to waste and not hold Bitcoin and furthermore tempt them to used their hodl BTC,

But we can see that adaptation for this kind of transaction and currency is pretty much OK with me I guess the timing is not right it may gain curious people to get to know Bitcoin but it may force Holders to waste Bitcoin at the same time, now that we are in the midst for a holiday season.

[hello_good_sir]

This is the biggest News for the adoption of bitcoin.  Time for bitcoin everywhere.  

“With the strategic timing of this new installation of Bitcoin ATMs at Simon Mall locations, customers can conveniently buy Bitcoin while doing their Black Friday and Christmas holiday shopping. Bitcoin is the perfect gift for family and friends this holiday season. Our Bitstop Bitcoin ATM mall locations are at the forefront of a trend as Bitcoin and digital currencies become part of the mainstream culture.”

This is another series of marquee locations after our recent Bitstop Bitcoin installation at the Miami International Airport back in October. We want to make sure our customers always have convenient access to our Bitcoin ATMs.
There are now over 130 convenient Bitstop Bitcoin ATM locations across the country, with many more growing every month. We intend to expand our Bitstop network to include 500+ locations by the end of 2020.”

Source: https://dailyhodl.com/2019/11/26/largest-shopping-mall-operator-in-the-us-goes-all-in-on-bitcoin-atms-for-holiday-shoppers/

That's actually massive, I would have never expected malls to take a gamble on bitcoin-related services for the Black Friday/Cyber Monday specials, there's going to be a crap-ton of sales anyway, and I guess they think that the extra crypto payments will cover the fees.

Although... I'm curious to see their reasoning behind it, I personally have a theory that they are going to charge huge spreads, and attempt to profit off a possible price pump + their outrageous fees that they are going to be charging. There's something with crypto-currencies, where paying a 5 dollar fee on a 100 dollar item sucks, but paying an extra 0.00048 doesn't sting as much, must be psychology.

[MATHReX]

I don't think bitcoin is fit for this situation. transfer fee would be too high for a small amount of money, other kind of altcoins would be great.
anyway, things are going wild there. happy to see cryptocurrency's being applied

Segwit address can take care of the high fees but there is also the problem of block time.
People won't like to wait for 20 minutes or so just for two block confirmation of the transaction.
ETH would be a better choice for it.
Still, it's a step in the right direction.

[darkangel11]

Great idea by them. While this is a step forward in adoption it can be a step back in price. They are giving people another easy way to convert to cash and the more such spots the more people will try them out selling their coins to gets some fiat money for Christmas shopping.
I started to see this adoption process going forward a couple years back when ATMs begun to appear even in more remote parts of my country. One day I'm walking through a shopping center and there's a Bitcoin ATM there. It's amazing because most people didn't know what Bitcoin is 2 years ago and there were people willing to invest in ATMs in an area where maybe 0.5% of people own cryptocurrencies. Wish I was so bold.

[Pearls Before Swine]

problem with these kind of news is that its old and it doesn't affect the price now no matter how much adoption it promotes. nothing new to these news, we can't even verify its truthfulness. but congrats to the mall.

I don't think bitcoin ATM's need to affect the price in order to have a positive effect overall.  But malls in the states are really dead and have been for years.  Everybody does their christmas shopping online these days instead of piling into crowded malls.  They'd rather go to the big box retailers, too.  Malls don't really offer much of anything in the U.S. anymore, so even tho I'm happy to see bitcoin ATM's in more places, I don't think this is that big a deal.

If those ATM's were in locations like redbox machines instead of liquor stores, they might get more usage.  Anyway, interesting article.

[romero121]

This is a big step, because whether the ATM's gets used or not, surely it'll create some people begin their crypto journey. This means in someway it serves as a way of promoting bitcoin. ATM usage keeps shrinking in other countries, which shows it won't be used much. Maybe the scenario could be different here. And this doesn't any impact over the price of bitcoin, this is just an additional gateway provided for the users to pay. Better is the stores on the Mall getting into direct acceptance of bitcoin for their products and services.

[Astvile]

I don't think bitcoin is fit for this situation. transfer fee would be too high for a small amount of money, other kind of altcoins would be great.
anyway, things are going wild there. happy to see cryptocurrency's being applied

If you'll be doing transactions below $100 I can't recommend you using bitcoin as a payment method but if you'll be doing big transactions on mall specially on a shopping trip bitcoin would really benefit you because sometimes people tend to exceed their credit cards limit for a transaction so bitcoin would be beneficial for that.

[tsaroz]

I don't think bitcoin is fit for this situation. transfer fee would be too high for a small amount of money, other kind of altcoins would be great.
anyway, things are going wild there. happy to see cryptocurrency's being applied

If you'll be doing transactions below $100 I can't recommend you using bitcoin as a payment method but if you'll be doing big transactions on mall specially on a shopping trip bitcoin would really benefit you because sometimes people tend to exceed their credit cards limit for a transaction so bitcoin would be beneficial for that.

Nevertheless it's a great move towards crypto adoption. If you happen to have just crypto no cash than it'd be cheaper and easier to pay in crypto than to convert it to fiat to pay.
Transaction fees can be lowered using alts, lightning network or internal transfer like that within coinbase mail.

[The Sceptical Chymist]

I don't know where those malls are, and the article doesn't say unfortunately--and I may or may not google it, because I don't shop at malls anymore. 

Awesome that these ATMs are popping up and I hope it isn't just a holiday thing.  My own experience with the one ATM near me was horrible, unfortunately since the machine malfunctioned when I tried to buy some bitcoin.  I do hope these ones at the malls work properly, because it's a frustrating experience when the process doesn't work.

And yeah, giving bitcoin as a gift would be an awesome thing, but it would be even better if you could give it as a kind of paper wallet gift card instead of just loading it into someone's wallet.  Obviously there would be some security issues with doing that and I don't think it's feasible, but the gift idea is still a good one.  Hell, I'd love to get some bitcoin for Christmas or my birthday or whatever.  It's just not the kind of present that can be giftwrapped and unless you know someone's wallet address in advance, there's no way I know of to give it to someone--and it wouldn't exactly be a surprise if you have to ask someone what their bitcoin addy is.  Anyway, good stuff here.

[Shasha80]

In my opinion, news like this is needed to make the popularity of bitcoin rise. And can make mass adoption quickly. America is indeed
the right target for deploying ATM machines, because its purchasing power is good compared to other countries.With the sight of a
bitcoin ATM machine seen in public places, especially in malls, it makes an indirect bitcoin promo. And really surprising now over 130
convenient Bitstop ATM locations, and will continue to grow every month. This is really true will attract many new investors. But
unfortunately the use of bitcoin ATM machines is still avoided by some people, because of the cost transactions are quite high.

[ragavancoin]

Good to hear and read about it in Google as well. Bitcoin ATMs is good for shopping, etc but the transaction fee is very high in ATMs. Rather than spending all the Bitcoin better if they hold because right now there might be a dump but in 2020 it might increase higher and higher hope for the best.

Be smart enough do not spend bitcoin more.

[bounceback]

This is the biggest News for the adoption of bitcoin.  Time for bitcoin everywhere.  

“With the strategic timing of this new installation of Bitcoin ATMs at Simon Mall locations, customers can conveniently buy Bitcoin while doing their Black Friday and Christmas holiday shopping. Bitcoin is the perfect gift for family and friends this holiday season. Our Bitstop Bitcoin ATM mall locations are at the forefront of a trend as Bitcoin and digital currencies become part of the mainstream culture.”

I think this is one of the advantages for us bitcoin users because currently digital technology is increasing among countries and of course it is very easy for us to shop because now it has provided bitcoin atm in several malls or in other shopping places like in Japan which almost completely they access their bitcoin through atm.

[Wintersoldier]

Good to hear and read about it in Google as well. Bitcoin ATMs is good for shopping, etc but the transaction fee is very high in ATMs. Rather than spending all the Bitcoin better if they hold because right now there might be a dump but in 2020 it might increase higher and higher hope for the best.

Be smart enough do not spend bitcoin more.

In that case, it doesn't necessarily mean that people and users of cryptocurrencies should use bitcoin in every transaction inside the mall. They can withdraw and deposit using bitcoin but use other cryptocurrencies in terms of transactions. It will be like taxes for the amount of fees that they need to pay using cryptocurrencies such as XRP and Ethereum. At the same time, you utilize not just bitcoin but other cryptos as well, thus might provide more crypto adoption for others.

[ChrisPop]

Good news, indeed. Just think about all those eye balls taht will get in touch with the Bitcoin sign. A lot of awarenessa and who knows - maybe some of them will actually go ahead and buy their first bitcoins if they don't own some already.

I wonder if there is any statistic showing the number of BTC ATMs vs Cash ATMs in the mall. haha

[peter0425]

problem with these kind of news is that its old and it doesn't affect the price now no matter how much adoption it promotes. nothing new to these news, we can't even verify its truthfulness. but congrats to the mall.

what do you mean by OLD NEWS?you are looking for a faster effect for the price now?do you really know what you are saying here?this is not to make effect instantly if thats what you wanted,besides most people will; have just curious of what this is alla bout and may consider trying soon.

i find it good to actually have BTC ATMS and allow people to have btc in their wallets but at least the ATM will put some information about how much money they could potentially profit is they hold BTC and spend cash instead.

how come that the company can speculate how much people may gain if they hold BTC?are yopu really a legendary?but why it seems that you dont know what you are talking about?volatility is what will hinder us to know how much exactly might be our profit or even the losses.

[UmerIdrees]

Having the Bitcoin ATMs there is all good and well, but if the people are just buying to spend it at merchants that would convert it to Fiat, then it

would have zero influence on the price. True adoption needs more P2P trades without these ATMs adding high fees for the transactions. Do not get

me wrong, I am not saying it is totally bad for adoption... I am just saying that it is not the ideal method to put bitcoins into people's wallets. Now

the shops in the Mall should just give extra discounts for people paying in bitcoins...then we will see good adoption taking place there. 

I do not have any such bitcoin ATM in my country but i really eager to know how these bitcoin ATM will work. Obviously, you will get Fiat from these bitcoin ATM. So does the ATM machine automatically converts the bitcoin into fiat and give is the paper currency ?  Also who get those bitcoins, The government or banks who installed that ATM ?