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Author Topic: Yeees it's happening  (Read 573 times)
CarnagexD
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October 05, 2020, 02:14:16 PM
 #1

Do you think that the adoption is really happening? I've seen this picture, a convenience store literally selling bitcoin through an ATM, I know it isn't new at all but this proves the actuality of innovation, something that we are dreaming of since we knew bitcoin. Hail the King! I still haven't tried it yet, I'm still wondering how complex it is.



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October 05, 2020, 02:28:49 PM
 #2

it is a start i would say, more like creating awareness through this means, there are many btc atm around the world and an addition is always welcome, the awareness this will generate is most important because if this convenience store has a good number of customers and probably 90% of them are unaware of btc before but with this atm that number will definitely reduce and who knows some might be too curious to want to dig even further.

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October 05, 2020, 02:46:26 PM
 #3

I'm still wondering how complex it is.
Looks fairly standard from the instructions on their website: https://rockitcoin.com/faq/how-to-buy-bitcoin-at-a-rockitcoin-atm

Interestingly, from the website, it seems you only need to provide a phone number and no other ID. However, the picture you have shared includes the words "Photo of your ID giving you trouble?" I can't find any information on the website regarding KYC or buying limits. Has anyone used one of these Rockitcoin ATMs? Can you buy anonymously?

If you try to buy online through their website, you get quoted a price which is almost 15% higher than the going rate, so I assume their ATMs charge a similar premium.

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October 05, 2020, 02:55:01 PM
 #4

It seems to me that such ATMs charge an unreasonably high percentage of sales, and that it will be much cheaper to buy bitcoin on the exchanger site!

I have not visited the website of this company, but perhaps you will still be photographed when buying...

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October 05, 2020, 03:11:13 PM
 #5

Bitcoin ATM's have been pretty "meh" in my opinion. The rate of adoption I'd personally like to see is the masses finally realizing the importance of a self-custodial and permission-less asset such as bitcoin. Idunno why but I have been fantasizing of a day where the masses are rushing into bitcoin(despite how unrealistic it is); not necessarily because of FOMO, but because of them actually knowing how important it is.

But with that said, new bitcoin ATMs? I'll take it! Slow and steady adoption is fine too.

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October 05, 2020, 03:19:46 PM
 #6

Wow, this is great news, it is a good innovation for the world of crypto, it seems like cryptocurrency is now being stronger than before because of such innovation like this, I am wondering what more we can have in the future about cryptocurrency. This news is what we are looking for.

I searched on how can we use a cryptocurrency ATM, here it is:
Quote
To start, you have to decide whether you’re going to enter with a wallet (app) that allows you to scan a QR code while adding or subtracting funds from it or be prepared to make a paper wallet, which will be provided to you at most bitcoin ATMs.
Upon activating a bitcoin ATM, you will be asked if you have a wallet, or if you wish to create one. From that point on, it will take you to the next screen where you can either withdraw bitcoin, purchase bitcoin, or create that new paper wallet.

Or better you watch this video: https://youtu.be/19tVcU4rZrU

The good thing here is that we can use our cash whenever we want to buy bitcoin, we just have to make sure that our money is ready for payment but as usual transaction fees won't get away from us.

You may visit this link for more details about crypto ATM.

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October 05, 2020, 03:21:43 PM
 #7

I'm still wondering how complex it is.
Looks fairly standard from the instructions on their website: https://rockitcoin.com/faq/how-to-buy-bitcoin-at-a-rockitcoin-atm

Interestingly, from the website, it seems you only need to provide a phone number and no other ID. However, the picture you have shared includes the words "Photo of your ID giving you trouble?" I can't find any information on the website regarding KYC or buying limits. Has anyone used one of these Rockitcoin ATMs? Can you buy anonymously?

If you try to buy online through their website, you get quoted a price which is almost 15% higher than the going rate, so I assume their ATMs charge a similar premium.
The screen does show a QR code to create a new wallet so may be the when wallet is created the phone number we provided is getting linked to it and whenever we buy/sell our bitcoins we only need to enter the phone number to get the transaction done through our wallet.

We had just one Kiosk installed in our country but officials took it down since the owner didn't have the permission to call it as an ATM.

No wonder the fees are high for doing a transaction via crypto ATM/Kiosk. I just consider it as an awareness method while it is better to buy/sell crypto online.

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October 05, 2020, 03:22:47 PM
 #8

this surplus (its more than 15% for small amounts --- around 17%!) it is really high and it could just left people unsatisfied for buying bitcoin with an ATM.  Plus if an used go to sell must pay a tx fee and exchange fee. Isn't sound as a bargain offer.
See below some examples:
0.00771566 = 100 USD (their website)
0.00771566 = 82,83 USD (preev)

0.08144309 = 1000 USD (their website)
0.08144309 = 874 USD (preev)

In other countries it's easier buy bitcoin, likewise:
like https://www.sbb.ch/en/station-services/at-the-station/services-from-the-ticket-machine/bitcoin.html Switzerland that allow to buy bitcoin directly in a train station!

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nicecrypto
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October 05, 2020, 03:26:11 PM
 #9

lol! it seem an angry customer has rip off the No entry without mask top sign Grin
it always bring joy to heart when you see this type of boldness from some offline stores, it shows the awareness is growing and people can just walk in the store to buy btc at their own convenient, i have never come across any btc atm before, am really hoping i will see one in near future.

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October 05, 2020, 03:34:55 PM
 #10

it is a start i would say, more like creating awareness through this means, there are many btc atm around the world and an addition is always welcome, the awareness this will generate is most important because if this convenience store has a good number of customers and probably 90% of them are unaware of btc before but with this atm that number will definitely reduce and who knows some might be too curious to want to dig even further.

This is not the first store to showcase this but it is showing that the awareness is coming stronger. Many stores are beginning to show interest in the use of bitcoin. It is a good thing because we can use our coins and cash in exchange for the other. We are going higher and higher in this move.
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October 05, 2020, 03:39:39 PM
 #11

it is cool to see it happening in more places but "adoption" is not happening when they "sell" bitcoin or provide ATMs. the adoption happens when those stores (like this convenience store) started accepting bitcoin as payment when you buy stuff from them. that would be something to be happy about if you ask me.

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October 05, 2020, 03:52:49 PM
 #12

Using a bitcoin ATM is pretty simple but you need to wait a while for confirmations. It’s great if you can find a non-KYC one so you can sell & avoid taxes but i prefer to sell on exchanges.

Mainstream adoption is coming but it will take a while.

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October 05, 2020, 04:45:45 PM
 #13

     Well, it is coming. We can only expect a lot more of these machines to come. Just think about it, in hard times people will keep on searching on better ways to earn. And let's face it, even when most wants Bitcoin to he a currency, most of the people out there, wants it to be a storage of value or something to gain profits. But seriously though, seeing increasing numbers of machine nes like that just means more and more people are being enthusiastic about bitcoins nowadays.

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October 05, 2020, 04:58:16 PM
 #14

Wow Shocked Bitcoin is really great and slowly moving. Hope one day I can also use and make transaction in bitcoin ATM machine but I have doubt that it has a very high transaction fee. This the start of awareness in bitcoin and the we can see adoption will increase everyday.





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October 05, 2020, 05:03:09 PM
 #15

Adoption will definitely occur but it will not be around the world but only a few, if it is in your area then it is worth trying and testing how and how complicated it is to use it then I am happy if it is in my area, yes this will be difficult in this country. me.

There is an added value if a bitcoin ATM is already in the store, it will attract a lot of attention with proper use and transactions without making an identity that is published through KYC.

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October 05, 2020, 05:04:55 PM
 #16

Using a bitcoin ATM is pretty simple but you need to wait a while for confirmations. It’s great if you can find a non-KYC one so you can sell & avoid taxes but i prefer to sell on exchanges.
KYC and non-KYC atm is what I want to know more about, why there are atms that isn't conducting any KYC and why there are atms that has KYC procedure. Have not used a single btc atm yet, I think it is more difficult than a normal one. What about the traffic from blockchain? how about the receipt of transaction. I really want to try it so badly.

Mainstream adoption is coming but it will take a while.
It's already happening, maybe 2 to 3 years from now this will not be new to us, we'll see a line of people buying and selling bitcoins to atms.

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October 05, 2020, 05:15:10 PM
 #17

Wow Shocked Bitcoin is really great and slowly moving. Hope one day I can also use and make transaction in bitcoin ATM machine but I have doubt that it has a very high transaction fee. This the start of awareness in bitcoin and the we can see adoption will increase everyday.
'Slow and steady win a race' gradually Bitcoin acceptability is gaining ground with all these latest innovations I am not surprise this news article https://news.bitcoin.com/bitcoin-atms-10100-outlook/
 says it all as at Sept 2020 more than 100100 is quite encouraging number, in the next few years to come adoption of Bitcoin into more businesses, stores e.t.c will have increased in multiples.

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October 05, 2020, 05:20:19 PM
 #18


Price is definitely higher than buying on a regular exchange. But if it does not require KYC, I think its fair. Almost 20% for not sending KYC documents, it's worth doing. If I have the chance I will try to buy at least $100 BTC on a paper wallet for a gift to someone. The right time for Christians to actually give bitcoin to a dear one.

It would help adoption if every country by now should be promoting cashless transaction and also allow BTC.

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October 05, 2020, 05:25:23 PM
 #19

Slow and steady adoption is fine too.

Of course, that's what I think when I see news like this. They are not a boom for bitcoin but they are another step on the road to mass adoption. There is quite a lot of news like this that you see from time to time on the forum but I dream of seeing the day when this is not even news.

By the way, I haven't seen one such machine near where I live, I also dream of seeing one.

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October 05, 2020, 05:40:19 PM
 #20


Price is definitely higher than buying on a regular exchange. But if it does not require KYC, I think its fair. Almost 20% for not sending KYC documents, it's worth doing. If I have the chance I will try to buy at least $100 BTC on a paper wallet for a gift to someone. The right time for Christians to actually give bitcoin to a dear one.

It would help adoption if every country by now should be promoting cashless transaction and also allow BTC.

For a $100 and below transaction I believe the fee is bearable but for greater amount transaction, I don't think so that newbie will be willing to buy crypto if they saw that the ATM machine BTC rate is 20% greater than the normal rate because I'm sure that they will google first Bitcoin before they buy it. The problem on this kind BTC ATM was they are charging too much fee to user that's why it result on over price rate.

This will never help mass adoption if this not a newbie friendly. We already saw this kind of news during 2015 to 2017 when BTC starts to hype but it didn't go well on some country because ATM machine rate is way higher than actual right.

I love Bitcoin Forever!  Wake me up when Bitcoin hits 1M.
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