Third largest Private Sector Bank of India is tweeting Bitcoin !!!

[100bitcoin]

Axis Bank tweet: https://twitter.com/AxisBank/status/491097693171638273

Bitcoin, the first cryptocurrency, has its own ATM!

About Axis Bank: http://en.wikipedia.org/wiki/Axis_Bank

[cuddaloreappu]

my favorite bank

[TrailingComet]

I am an Axis customer as well
Good, solid bank, no tech pioneers though

[Daniel91]

WOW this is really great news!
I hope many other banks will follow it.
Have dream that soon I will be able to walk out to my nearest ATM machine and cash out my salary in bitcoin

[ljudotina]

Arn't Banks evil? Dont they want BTC dead? Or is it just that they keep their friends close, but theit enemies even closer? 

[thepenmen22]

Wait I don't understand how this would work. How would someone deposit/withdraw money from this? There is a slot but wouldn't that be for a credit card or something? How would someone go about using this machine?

I would assume that this could only be used to deposit money to convert to bitcoins, right?

[Nabu]

hot news arrived to India by elephants

[ajareselde]

Arn't Banks evil? Dont they want BTC dead? Or is it just that they keep their friends close, but theit enemies even closer? 

lol, i was thinking the same thing about that one.
But when u think about that, bitcoin may also be banks friend in some way, since people still need to use them to fund accounts on exchanges, and therefore banks also get their fee.
Perhaps certain banks are are ignoring bitcoin at this stage, considering it as something else rather than a threat.

[banque]

With an hour average time to get 6 verifications for a trans to be final, how can they offer an ATM service?

Unless they are just allowing you to send btc from an existing account to what a long address you type in? Sure they have the ocr tech tied into btc, but the interface is what? Existing account to accept btc? Existing account to send btc to then do what, wait an hour for the funds to be liquid?

I'd have to see it in action to understand if it makes sense, I know other atms for btc are popping up too, canada has some and I think some are in orlando if I remember right, but the hoops seem hard for a bank to use, the other atms were from btc based companies, so they must have an account protocol, just my speculating on the whole thing, since I have yet to see one in action and read a solid explanation of how they work, do you need a btc account with the atm service, can any btc wallet be used, what ocr app are they running, etc.

I know for restaurants you can now scan an ocr bill in your iphone and send btc to the restaurants wallet, so it must use a similar ocr tech.

But you still have the hour delay in a final transaction, so deposit only and come back in an hour?

That kinda of defeats whole aspect of atms.

Now if they are actually creating accounts to HOLD BTC in that would be bigger news a major bank creating btc based accounts so you can liquidate them at an atm.

Usually POS systems sell a service or goods that isn't that much, under 100 bucks like a minor food/bar tab and they route through a simple merchant app to create the ocr for the transaction, but they are subject to the buy not going through and being rejected.

BTC is moving so fast and creating so many new techs and ways to move it around it's mind boggling almost.

[Radelderth]

Awesome news, if every bank start to accept bitcoin then bitcoin would be the new currency..

[matt608]

hot news arrived to India by elephants

The bitcoin community should crow-fund the hire of elephants and have them decorated with the bitcoin logo so localbitcoins sellers in India can then ride around on them selling bitcoin.

[scribbles]

Wait I don't understand how this would work. How would someone deposit/withdraw money from this? There is a slot but wouldn't that be for a credit card or something? How would someone go about using this machine?

I would assume that this could only be used to deposit money to convert to bitcoins, right?

Put cash in, get paper wallet with equivalent btc balance out.

[RocketSingh]

Wait I don't understand how this would work. How would someone deposit/withdraw money from this? There is a slot but wouldn't that be for a credit card or something? How would someone go about using this machine?

I would assume that this could only be used to deposit money to convert to bitcoins, right?

Imagine you are buying from a local bitcoin seller in face to face meet. Just the seller will be replaced by the ATM.

[slaveforanunnak1]

my indian co-worker is stoked!

[karlb187]

 nice. Bitcoin will take over the world! 

[RobDeleu]

Well, this certainly helps. The more exposure, the better

[BitCoinDream]

Axis Bank tweet: https://twitter.com/AxisBank/status/491097693171638273

Bitcoin, the first cryptocurrency, has its own ATM!

About Axis Bank: http://en.wikipedia.org/wiki/Axis_Bank

Well, this was actually a morning trivia. The way u guys showed enthusiasm, AXIS bank got spooked and deleted the post fearing probable RBI enquiry...

[Kipsy89]

Awesome! It's always a great thing when people with a lot of followers tweet something about bitcoin or simply mention the term! Overstock is doing a great thing with their TV ads. Man, those are exciting times we're living in!

[Lauda]

I'm getting some error and can't see the tweet?
Anyone else?
SS maybe?

[BitCoinDream]

I'm getting some error and can't see the tweet?
Anyone else?
SS maybe?

Please read my post just 1 post above yours. The answer is there