BITCOIN ATM MACHINES

[bitcon]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

[1714131887]

1714131887

[mb300sd]

ATM would be cool, horrible implementation. Too easy for the ATM to record all wallet.dat files, then take people's bitcoins long after they've forgotten about the atm...

[Stephen Gornick]

I believe the concept was that it would accept cash and spit out a BitBill with the particular amount of bitcoins sent to the card's address:

 - http://bitcoinatm.com

 - http://www.youtube.com/watch?v=FqpSZDMu5jY

I don't know if it was also to spit out cash as well though.  That type of transaction could only be done with either Green Transactions or by waiting until after waiting for multiple confirmations (e.g., more than 2 at least, probably at least 6 for any amount of size like $40 or more).

Now that we have OKPay and other debit card products that can be loaded with funds directly from bitcoin and withdrawn at ATMs, a specialized Bitcoin ATM might not be as badly needed.

[Foxpup]

A better idea is for the machine to display a QR Code, you scan it and send your bitcoins to that address (using your own device), then you get your cash. Putting your private key data on a public machine is kinda dumb. The problem is that an ATM can't afford to wait several minutes for confirmation (though there are solutions).

[Jeremy West spendbitcoins.com]

a bitcoin atm machine would be cool.

Working on it.

I think this could be a good solution for people travelling through multiple countries with multiple currencies on a trip. Convert bitcoins to cash or debit card on arrival, convert back to bitcoins on departure. Rinse and repeat.

[evoorhees]

A better idea is for the machine to display a QR Code, you scan it and send your bitcoins to that address (using your own device), then you get your cash. Putting your private key data on a public machine is kinda dumb. The problem is that an ATM can't afford to wait several minutes for confirmation (though there are solutions).

Exactly!!!

Send coins to the machine from your phone, get USD cash. Doesn't even need to wait for confirmations.

[DeathAndTaxes]

Send coins to the machine from your phone, get USD cash. Doesn't even need to wait for confirmations.

I am usually the one telling people that needing confirmations for all tx is silly.  Especially low value reversible ones.

That being said I have to think a 0-confirm ATM is likely a bankrupt ATM. 
Double spend = free money (literally). 

The defense of a double spend comes from the cost and complexity necessary to achieve it.   It likely isn't worth it to try and double spend a porn site or a McDonald's cheeseburger but I have think think double spending free cash is an attractive target.  Likely the most attractive target.

[schnell]

a bitcoin atm machine would be cool.

Working on it.

I think this could be a good solution for people travelling through multiple countries with multiple currencies on a trip. Convert bitcoins to cash or debit card on arrival, convert back to bitcoins on departure. Rinse and repeat.

What about using a service like btcbuckets for it?

[benjamindees]

I wonder whether there are machines capable of accepting bills, and then dispensing those same bills later. 

[teflone]

I wonder whether there are machines capable of accepting bills, and then dispensing those same bills later.  

Yes..  those exist..

They are becoming more and more popular..  But they are expensive compared to their counter part for the banks to purchase..

You should see one soon I would suspect, there are many out in the wild already.

I for one have already had training on how to fix them, yet have not touched one in the wild yet. 

[FreeMoney]

How awesome would it be to dynamically change the buy/sell spread on individual ATMs to ensure that you never HAD to go get cash from them. At some point if it got out of whack with market rates you would want to do the arb if no one else was of course. But in principle you could drop off a super duty cage somewhere and just let it churn money for you with no maintenance.

[davout]

That being said I have to think a 0-confirm ATM is likely a bankrupt ATM. 
Double spend = free money (literally).

Maybe it could be programmed to allow to have only X coins pending confirmation, it would greatly limit the incentive to attempt double-spends.
Or maybe you could send funds to the ATM while not being right in front of it, in advance, once the transaction is confirmed you get a receipt that is redeemable for cash at the ATM.

[DeathAndTaxes]

That being said I have to think a 0-confirm ATM is likely a bankrupt ATM.  
Double spend = free money (literally).

Maybe it could be programmed to allow to have only X coins pending confirmation, it would greatly limit the incentive to attempt double-spends.
Or maybe you could send funds to the ATM while not being right in front of it, in advance, once the transaction is confirmed you get a receipt that is redeemable for cash at the ATM.

The first one is a non-starter.  If the limit is too low the ATM is useless to any legit customer and yes some crooks will still attempt to steal a token amount of coins (ask Gavin the amount of fraud the bitcoin faucet gets and that is 0.01 max payout).  If the limit is too high all crooks will just steal that amount.

The second is a little more interesting and something I thought of yesterday when walking by a Rebox machine.  "Normal" ATM are mainly about impulse decisions ("oh crap I need $50") so having a call ahead normal ATM is kinda dubious.  A Bitcoin ATM is to provide planned fast exchanging of currency.  Nobody has a problem with reserving a movie online w/ RedBox.

A BTC ATM could operate in a similar manner.    You install an app on your smartphone (could also access it from any web browser).   The app generates a one time deposit address and current exchange rate.  You transfer the coins to that address via whatever client/wallet you like and the app provides you a "withdraw PIN" and block counter.   To use the ATM you just punch in your one time withdraw code (or have your phone send it via NFC or QR code).  Obviously other options are also available even optional magnetic cards/accounts for frequent users.

Now if you decided not to "pay ahead" you could at the ATM could replicate the same process except you will need to wait 6 confirmations.  Maybe have a 3rd party provide "double spend insurance" and allow the customer to cut that down to 2 confirmations for a higher convenience fee.

Obviously cash-> BTC tx would always be instantaneous.  Also as someone mentioned a smart ATM would adjust its exchange rates to reduce or eliminate the number of times it needs to be refilled by influencing customer behavior (maybe even allow users to sign up to learn when ATM has a good "deal").

The real problem w/ BTC ATM is density.  Normal ATM work because within 10 miles there are thousands of users with compatible cards.  I doubt there are many locations in the world where BTC account holder density is > 100 in 10 miles radius.

[davout]

That being said I have to think a 0-confirm ATM is likely a bankrupt ATM. 
Double spend = free money (literally).

Maybe it could be programmed to allow to have only X coins pending confirmation, it would greatly limit the incentive to attempt double-spends.
Or maybe you could send funds to the ATM while not being right in front of it, in advance, once the transaction is confirmed you get a receipt that is redeemable for cash at the ATM.

The first one is a non-starter.  If the limit is too low the ATM is useless to any legit customer and yes some crooks will still attempt to steal a token amount of coins (ask Gavin the amount of fraud the bitcoin faucet gets and that is 0.01 max payout).  If the limit is too high all crooks will just steal that amount.

For small amounts it's perfectly relevant, for big amounts I wouldn't trust bitbills (or any variant) anyway.
Regarding the hacking opportunities you're wrong, pulling off a double spend isn't exactly as easy as tricking the faucet, the ATM will just wait ten seconds in order for the first payment to be properly propagated.

[DeathAndTaxes]

Regarding the hacking opportunities you're wrong, pulling off a double spend isn't exactly as easy as tricking the faucet, the ATM will just wait ten seconds in order for the first payment to be properly propagated.

I never said it is as easy just that thieves will attempt to attack an automated system for much smaller amounts than valid users will be willing to wait.

It may be more beneficial to simply get users to accept the idea that the ATM is "phone ahead" rather than advertise the "instant benefits" only to have user find out that only $10 withdrawal is instant.  I am not sure the value of that anyways because 100 $10 withdrawals is $1000.   If a thief can double spend a $1000 withdrawal (finney attack for example) they could do the same for 100 $10 withdrawals.

Still I think a phone ahead ATM works fine.  It serves a different purpose/market.

[wareen]

I would just charge a little more for instant withdrawals and use that as an insurance against double spends. Customers paying in advance would get better rates. Together with an amount limit for instant withdrawals you can keep your risk within an acceptable range.

[unabridged]

I wouldn't worry about instant withdrawals from arbitrary bitcoin address, those people are going to have to wait. Instant withdrawals would be for people that have wallet accounts with the ATM provider, or maybe even networks of trusted wallet services.

[SgtSpike]

That being said I have to think a 0-confirm ATM is likely a bankrupt ATM. 
Double spend = free money (literally).

Maybe it could be programmed to allow to have only X coins pending confirmation, it would greatly limit the incentive to attempt double-spends.
Or maybe you could send funds to the ATM while not being right in front of it, in advance, once the transaction is confirmed you get a receipt that is redeemable for cash at the ATM.

The first one is a non-starter.  If the limit is too low the ATM is useless to any legit customer and yes some crooks will still attempt to steal a token amount of coins (ask Gavin the amount of fraud the bitcoin faucet gets and that is 0.01 max payout).  If the limit is too high all crooks will just steal that amount.

For small amounts it's perfectly relevant, for big amounts I wouldn't trust bitbills (or any variant) anyway.
Regarding the hacking opportunities you're wrong, pulling off a double spend isn't exactly as easy as tricking the faucet, the ATM will just wait ten seconds in order for the first payment to be properly propagated.

What if I create a transaction that should require a fee, but I don't include a fee with it?  Then the transaction is propogated with 0 conf, but it'll never go through.  In the meantime, at some point afterward, I can create another transaction with a fee sending those coins to my own address.  Viola!  Free cash from the ATM.

I wouldn't worry about instant withdrawals from arbitrary bitcoin address, those people are going to have to wait. Instant withdrawals would be for people that have wallet accounts with the ATM provider, or maybe even networks of trusted wallet services.

I would agree with this.

Think of it as a bank.  You have a bank account balance, and those are the funds you use to interact with the machine.  You can't withdraw from the ATM unless you have funds in your bank account.  Same as it already works with cash.

[Foxpup]

For small amounts it's perfectly relevant, for big amounts I wouldn't trust bitbills (or any variant) anyway.
Regarding the hacking opportunities you're wrong, pulling off a double spend isn't exactly as easy as tricking the faucet, the ATM will just wait ten seconds in order for the first payment to be properly propagated.

What if I create a transaction that should require a fee, but I don't include a fee with it?  Then the transaction is propogated with 0 conf, but it'll never go through.  In the meantime, at some point afterward, I can create another transaction with a fee sending those coins to my own address.  Viola!  Free cash from the ATM.

Solution: Have the ATM refuse to pay out on unconfirmed no-fee transactions, and instead have it print out a receipt with a QR code that can be redeemed for cash at the same ATM after the transaction gets confirmed (if it ever does).

[SgtSpike]

For small amounts it's perfectly relevant, for big amounts I wouldn't trust bitbills (or any variant) anyway.
Regarding the hacking opportunities you're wrong, pulling off a double spend isn't exactly as easy as tricking the faucet, the ATM will just wait ten seconds in order for the first payment to be properly propagated.

What if I create a transaction that should require a fee, but I don't include a fee with it?  Then the transaction is propogated with 0 conf, but it'll never go through.  In the meantime, at some point afterward, I can create another transaction with a fee sending those coins to my own address.  Viola!  Free cash from the ATM.

Solution: Have the ATM refuse to pay out on unconfirmed no-fee transactions, and instead have it print out a receipt with a QR code that can be redeemed for cash at the same ATM after the transaction gets confirmed (if it ever does).

What happens if the transaction doesn't need a fee, and the client doesn't include one (since none of them do by default unless it is needed)?

What if you send a transaction with a fee to the ATM and withdraw the money, but then send another one with a higher fee to yourself, banking on the rules of various mining pools to push the higher fee transaction through first?  Even if it only happens 10% of the time, you could make bank just doing transactions with the ATM over and over, waiting for that one chance of your second transaction going through before your first.

[ElMoIsEviL]

Wouldn't a smartphone and a secured home server not be better (wallet/bank account) than some 3rd party ATM?

Experience has taught me that individuals who provide services such as ATMs or even online payment services do a crummy job on security. We've witnessed this time and time again. I'd rather rely on myself then on others.

Of course this means working on a more secure variant of the Linux operating system as well as a secure variant of Android would be preferable in order to make this reality. My 2 cents.

[benjamindees]

Wouldn't a smartphone and a secured home server not be better (wallet/bank account) than some 3rd party ATM?

Bitcoin is such an incredibly tiny and geographically diffuse economy right now that the odds of physical merchants accepting them is going to remain low for a long time.  An ATM network is a couple of orders of magnitude easier to create than a network of Bitcoin POS terminals.

[toddbethell]

BitcoinATM code is now officially an open source effort.

https://github.com/BitcoinATM

See the main post:  https://bitcointalk.org/index.php?topic=77895.msg866162#msg866162

[retrocoingames]

BitcoinATM code is now officially an open source effort.

https://github.com/BitcoinATM

See the main post:  https://bitcointalk.org/index.php?topic=77895.msg866162#msg866162

Whop is using this code?

Who are the players in the Bitcoin ATM world today?

[t2yax]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

Yeah I'm also wishing that I can find a Bitcoin ATM Machines here in our place. So that it will be convenient for me to withdraw the money from BTC wallet.

[manselr]

BitcoinATM code is now officially an open source effort.

https://github.com/BitcoinATM

See the main post:  https://bitcointalk.org/index.php?topic=77895.msg866162#msg866162

Whop is using this code?

Who are the players in the Bitcoin ATM world today?

Switzerland is increasingly adding more and more ATM bitcoin machines all over the place. For such a small country, you can find them all over, it's so easy to find them now, in ever train place you can find them.

I think Switzerland is trying to become a major player for the future to become a bitcoin safe haven.

[marcuslong]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

it will be cool but it can be horrible for sure how if that atm machine hacked already and put your usb stick? And then get all your bitcoin for sure you'll be cry maybe bank is good and then withdraw anytime you needed money it more be cool than using atm machine? Or maybe we can have a physical card than using virtual card from internet right?

[ipanks]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

it will be cool but it can be horrible for sure how if that atm machine hacked already and put your usb stick? And then get all your bitcoin for sure you'll be cry maybe bank is good and then withdraw anytime you needed money it more be cool than using atm machine? Or maybe we can have a physical card than using virtual card from internet right?

using our usb stick in atm machine can make us to get trouble because we know that usb stick can contain a virus that will affect to our usb. so maybe i am prefer to use atm card to used in the atm machine because i think its difficult to get hacked when we use the card although there is 100% guarantee to be safe. at least we can avoid the bad thing that will come to us.

[Text]

using our usb stick in atm machine can make us to get trouble because we know that usb stick can contain a virus that will affect to our usb. so maybe i am prefer to use atm card to used in the atm machine because i think its difficult to get hacked when we use the card although there is 100% guarantee to be safe. at least we can avoid the bad thing that will come to us.

I agree, I choose also to use the same thing with the bank, the usual and common card. It is safer that a USB stick because it can't infected by a virus and easy to use. It would really great if we could have a Bitcoin ATM machines because here in our country I don't have an idea yet maybe I can ask the staffs of our local exchange.

[LLec]

A better idea is for the machine to display a QR Code, you scan it and send your bitcoins to that address (using your own device), then you get your cash. Putting your private key data on a public machine is kinda dumb. The problem is that an ATM can't afford to wait several minutes for confirmation (though there are solutions).

This is exactly what I was thinking while reading the original post created back in 2012.
Why a usb stick? Not even banks allow their employees to plug in a usb stick into their own work computer so why would allow just anyone to plug a foreign usb into their own atm machine?
That is a major foe pas to cripple the network with malicious code.
Everybody now 5 years later has a phone on them with camera capabilities. So they will use it to transfer the coins.
And the posts regarding the locations of said atm's.
There is an app for that.
It has been mentioned quite frequently lately on other threads.
Just search for it.

[PhucS]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

Bitcoin atm machine, yes it's a great idea and it has become a reality. Bitcoin is not subject to the management of any bank, the State, but reappears Bitcoin atm machine. The arrival of Bitcoin atm machine has increased its popularity with many people. In my country, two Bitcoin atm machine  appeared although it has not been officially recognized. I've used it, it is quite useful. However it can only buy and sell, non-functional send Bitcoin. You'll have to enter your number of phone to receive verification codes, then use your Bitcoin wallet to buy or sell. The transaction is done pretty quickly and easy you will receive an invoice shortly after. With this machine, we can use  Bitcoin more convenient. I enjoyed it, hoping that it will complete more functions in the future

[retrocoingames]

BitcoinATM code is now officially an open source effort.

https://github.com/BitcoinATM

See the main post:  https://bitcointalk.org/index.php?topic=77895.msg866162#msg866162

Whop is using this code?

Who are the players in the Bitcoin ATM world today?

Switzerland is increasingly adding more and more ATM bitcoin machines all over the place. For such a small country, you can find them all over, it's so easy to find them now, in ever train place you can find them.

I think Switzerland is trying to become a major player for the future to become a bitcoin safe haven.

That is interesting... I remember them appearing in Spain years ago and then they went away...

[CraigWrightBTC]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

Yes it is good, unfortunately there are not many bitcoin ATM machine around the world
should there are developer whom be serious building projects of ATM machine,
although it will taking much time because not all of the people who know and use bitcoin
on their life.

[sir.humus]

ATM would be cool, horrible implementation. Too easy for the ATM to record all wallet.dat files, then take people's bitcoins long after they've forgotten about the atm...

In Israel we have a bitcoin ATM.

It's really simple, you just need to:
1. scan your wallet address barcod
2. put in some cash
3. aprove the transaction
4. wait for the transaction to your wallet

I think it should become more and more common everywhere in the world.

[slapper]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

Yes it is good, unfortunately there are not many bitcoin ATM machine around the world
should there are developer whom be serious building projects of ATM machine,
although it will taking much time because not all of the people who know and use bitcoin
on their life.

I agree so. I am glad that I live in the area which accepts Bitcoin and some people have already developed the Bitcoin ATM in a small pizza restaurant. The machine works fast and absolutely astonishing. However, there is still a problem: I have to wait for about 15' to 20' before I can receive my funds because the ATM need to connect to the blockchain and wait for my Bitcoin to be confirmed

[audaciousbeing]

ATM would be cool, horrible implementation. Too easy for the ATM to record all wallet.dat files, then take people's bitcoins long after they've forgotten about the atm...

In Israel we have a bitcoin ATM.

It's really simple, you just need to:
1. scan your wallet address barcod
2. put in some cash
3. aprove the transaction
4. wait for the transaction to your wallet

I think it should become more and more common everywhere in the world.

Wow, this is so cool and this gives a credence to the fact that bitcoin is here to stay and further diminishing the argument that bitcoin will fizzle out soon by the doom prophets. Over here, we have not developed to that extent as we dont even have a store yet but its going to be cool if we could have some but we will still need to fix our foreign exchange rate first for us to start moving to that phase of development.

[Dudeperfect]

There are hardly up to 10 Bitcoin ATMs in my country having a population of more than 1.30 billion, however very few of them heard about bitcoin. On the other hand, bitcoin companies are trying to build big awareness about bitcoin and I see this as an opportunity for bitcoin enthusiastic users to be a pioneer in crypto payments. Bitcoin ATM would be really a cool thing to start with but for that, we need to research and work as per central bank’s guidelines.

[CraigWrightBTC]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

Yes it is good, unfortunately there are not many bitcoin ATM machine around the world
should there are developer whom be serious building projects of ATM machine,
although it will taking much time because not all of the people who know and use bitcoin
on their life.

I agree so. I am glad that I live in the area which accepts Bitcoin and some people have already developed the Bitcoin ATM in a small pizza restaurant. The machine works fast and absolutely astonishing. However, there is still a problem: I have to wait for about 15' to 20' before I can receive my funds because the ATM need to connect to the blockchain and wait for my Bitcoin to be confirmed

You are lucky man and I have good news if you or other people who want make business on bitcoin ATM please check this link https://news.bitcoin.com/start-bitcoin-atm-business/
actually I am interested with this business although there are not people who use bitcoin,
unfortunately I don't have enough capital for building this business.

[severaldetails]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

Yes it is good, unfortunately there are not many bitcoin ATM machine around the world
should there are developer whom be serious building projects of ATM machine,
although it will taking much time because not all of the people who know and use bitcoin
on their life.

I agree so. I am glad that I live in the area which accepts Bitcoin and some people have already developed the Bitcoin ATM in a small pizza restaurant. The machine works fast and absolutely astonishing. However, there is still a problem: I have to wait for about 15' to 20' before I can receive my funds because the ATM need to connect to the blockchain and wait for my Bitcoin to be confirmed

You are lucky man and I have good news if you or other people who want make business on bitcoin ATM please check this link https://news.bitcoin.com/start-bitcoin-atm-business/
actually I am interested with this business although there are not people who use bitcoin,
unfortunately I don't have enough capital for building this business.

I had an bitcoinatm not too far away from me, and it closed...
Unfortunatelly not every country is as far developed in things of bitcoin than Switzerland is.
The ATM in my region was closed because nobody used it. What a shame.

[rivoke]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

It's cool concept only if goverment have approve bitcoin project meanwhile My goverment still forbid bitcoin usage so this concept is impossible for happening at my place.

I'm imagine if bitcoin ATM exist, it must provide more secure safety as my people able to hack my fiat ATM

[MoneyIsDebt]

i think it is a very good concept and it attract a lot of customers. from this the concept of transaction became easy. i think atn machine would be smart enough that it can exchange bitcoin into the favourable currency of which user it. and i thin it is very much useful to the customer. He just attach a usb or atm card and just get his amount to the suitable currency......

[AUDREY23]

ATM would be cool, horrible implementation. Too easy for the ATM to record all wallet.dat files, then take people's bitcoins long after they've forgotten about the atm...

wow impressive unfortunately, I was far from their bitcoin atm at another island with me, want to try let no experience but very far away so I had to think twice

[CraigWrightBTC]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

Yes it is good, unfortunately there are not many bitcoin ATM machine around the world
should there are developer whom be serious building projects of ATM machine,
although it will taking much time because not all of the people who know and use bitcoin
on their life.

I agree so. I am glad that I live in the area which accepts Bitcoin and some people have already developed the Bitcoin ATM in a small pizza restaurant. The machine works fast and absolutely astonishing. However, there is still a problem: I have to wait for about 15' to 20' before I can receive my funds because the ATM need to connect to the blockchain and wait for my Bitcoin to be confirmed

You are lucky man and I have good news if you or other people who want make business on bitcoin ATM please check this link https://news.bitcoin.com/start-bitcoin-atm-business/
actually I am interested with this business although there are not people who use bitcoin,
unfortunately I don't have enough capital for building this business.

I had an bitcoinatm not too far away from me, and it closed...
Unfortunatelly not every country is as far developed in things of bitcoin than Switzerland is.
The ATM in my region was closed because nobody used it. What a shame.

Maybe couples years later many people who use bitcoin ATM because,
 it starts growing up many ATM machine of bitcoin be installer globally
https://cointelegraph.com/news/another-bitcoin-record-over-1000-bitcoin-atms-installed-globally
Look at good news from cointelegraph and I think it is about time until many bitcoin ATM on every countries.

[Tuyul Gupies]

bitcoin atm my country there are only a few, but it is located very far with me, there is a desire for attempting to use direct experience but let no traveling time and cost is not small

[canah17]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

I would donate for that to happened here in my country i recently save my bitcoin for computer games because in my country its hard to spend bitcoin in the real world you can't cash it out i really need the bitcoin in the real world so that i can convert it to real cash and spend my money on stuff that i need and want to eat atm machine of bitcoin is one great idea to those people like me that cannot exchange bitcoin into real money >.<

[BeGoods]

ATM would be cool, horrible implementation. Too easy for the ATM to record all wallet.dat files, then take people's bitcoins long after they've forgotten about the atm...

wow impressive unfortunately, I was far from their bitcoin atm at another island with me, want to try let no experience but very far away so I had to think twice

I really hope bitcoin ATM exist in every city in the world. so users can get easy to use bitcoin. and of course this could be a promotional event for bitcoin
because people would ask, what is bitcoin ATM?

[Harlot]

It won't be ideal because we can actually withdraw them via normal Atm Machines. How? By converting Bitcoin to Fiat via Bank Deposit. And also I don't think it is feasible because no banks will even attempt to accept Bitcoin and then convert it directly to cash as of now. Right now wallet providers are the ones doing the conversion to your bank.

[densuj]

ATM would be cool, horrible implementation. Too easy for the ATM to record all wallet.dat files, then take people's bitcoins long after they've forgotten about the atm...

wow impressive unfortunately, I was far from their bitcoin atm at another island with me, want to try let no experience but very far away so I had to think twice

I really hope bitcoin ATM exist in every city in the world. so users can get easy to use bitcoin. and of course this could be a promotional event for bitcoin
because people would ask, what is bitcoin ATM?

Yes I agree with you with bitcoin ATM machines  will make bitcoin be famous in the world,
bitcoin ATM machines  is one of other way for education of bitcoin.
If there are many bitcoin ATM machines  will many people starts learn about bitcoin
and it will make bitcoin ATM machines  more popular on cities in the countries, there is good news about the bitcoin ATM machine start be used http://www.newsbtc.com/2017/02/21/first-baton-rouge-bitcoin-atm-open-business/

[cryptoblazter]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

Wow! that's really cool, I wish we could have that here in my country. The only thing I know we had it that too but only one and its far in my place its 3 hours travel before I get in there Bitcoin ATM machines,.

[blackhawkeye1912]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

I agreed that if each country will going to have a ATM machine's for bitcoin users it will become more advantage for us to use it. Its very easy and you can also withdraw money according to your country currency.

[richardsNY]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

I agreed that if each country will going to have a ATM machine's for bitcoin users it will become more advantage for us to use it. Its very easy and you can also withdraw money according to your country currency.

I personally doubt that it will have a major effect. If you look at what hassle you need to go through in order to actually use such an ATM, people will only use it as last resort option. The level of verification also depends on the country that these ATM's are operating from. Another thing is that the less usage these machines enjoy, the higher the operating fees will be. It's not a charity sponsored thing, which means that cold hard revenue highly matters.

[1Referee]

If you look at what hassle you need to go through in order to actually use such an ATM

The level of verification also depends on the country that these ATM's are operating from.

In some cases it can be an annoying process to get yourself verified, but depending on the country they are running from, you can verify yourself by just having your ID barcode scanned. It will then directly 'download' your information and save it into their system. It also runs your personal information through a database to see whether or not you have been linked with criminal actions, etc.

people will only use it as last resort option.

Another thing is that the less usage these machines enjoy, the higher the operating fees will be.

I agree that Bit ATM's are just an optional service offered to those willing to use it as an alternative way of obtaining Bitcoin. That is directly the reason people are okay with paying the premium fees that these ATM's charge. It's basically the same with P2P trading. Fees involved are higher than when you buy from an exchange, but here as well, it's some sort of a last resort option. The only question is... Will these ATM's generate enough profits to justify having them working in large quantities - That remains to be seen.

[Creepings]

It won't be ideal because we can actually withdraw them via normal Atm Machines. How? By converting Bitcoin to Fiat via Bank Deposit. And also I don't think it is feasible because no banks will even attempt to accept Bitcoin and then convert it directly to cash as of now. Right now wallet providers are the ones doing the conversion to your bank.

I think it is really great having these ATM machines, it is really a efficient way to buy a bitcoin especially when you need it quickly. Many users are using bitcoin so eventually, banks will try to develop and accept bitcoin, these digital currency because many people are using it. And we can't just always rely on the wallet providers, we can also make these way to get bitcoins.

[Wandering Soul~]

It won't be ideal because we can actually withdraw them via normal Atm Machines. How? By converting Bitcoin to Fiat via Bank Deposit. And also I don't think it is feasible because no banks will even attempt to accept Bitcoin and then convert it directly to cash as of now. Right now wallet providers are the ones doing the conversion to your bank.

I think it is really great having these ATM machines, it is really a efficient way to buy a bitcoin especially when you need it quickly. Many users are using bitcoin so eventually, banks will try to develop and accept bitcoin, these digital currency because many people are using it. And we can't just always rely on the wallet providers, we can also make these way to get bitcoins.

Banks accepting bitcoin is not a matter of eventually, There are many things about bitcoin that will hinder banks from accepting it like the concept of bitcoin, It contradicts banks . Maybe if 70-80% of the peoples population uses it, They might but it will take a long time .

There are a few numbers of ATM machine in the whole world and unfortunately, due to its high fees its not popular and what OP is talking about plugging your usb is not recommended due to security issues . Bitcoin is not even accepted in most stores especially physical stores so I don't see a reason on why most people need to buy it quickly . They can just use their fiat .

[Barmen]

It won't be ideal because we can actually withdraw them via normal Atm Machines. How? By converting Bitcoin to Fiat via Bank Deposit. And also I don't think it is feasible because no banks will even attempt to accept Bitcoin and then convert it directly to cash as of now. Right now wallet providers are the ones doing the conversion to your bank.

I think it is really great having these ATM machines, it is really a efficient way to buy a bitcoin especially when you need it quickly. Many users are using bitcoin so eventually, banks will try to develop and accept bitcoin, these digital currency because many people are using it. And we can't just always rely on the wallet providers, we can also make these way to get bitcoins.

Banks accepting bitcoin is not a matter of eventually, There are many things about bitcoin that will hinder banks from accepting it like the concept of bitcoin, It contradicts banks . Maybe if 70-80% of the peoples population uses it, They might but it will take a long time .

There are a few numbers of ATM machine in the whole world and unfortunately, due to its high fees its not popular and what OP is talking about plugging your usb is not recommended due to security issues . Bitcoin is not even accepted in most stores especially physical stores so I don't see a reason on why most people need to buy it quickly . They can just use their fiat .

This spring, Japan promised to make bitcoin legal tender. If that happens it could change the situation with bitcoin around the world. Though of course it is too early to talk about widespread bitcoins.

[bitkilo]

BitcoinATM code is now officially an open source effort.

https://github.com/BitcoinATM

See the main post:  https://bitcointalk.org/index.php?topic=77895.msg866162#msg866162

Whop is using this code?

Who are the players in the Bitcoin ATM world today?

The big player are Lamassu, Skyhawks,  Genesis and a few others you will find on this list of the top 6,
https://themerkle.com/top-6-bitcoin-atm-manufacturers/

Robocoin had a big share at one stage but they also had the worst user friendliness, palm prints, ID scans the works to invade your privacy so I am not surprised to not see them on the above list.

[yrreg ger]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

Indeed, a bitcoin ATM machine is great idea. It would be convenient if bitcoin would have it's own withdrawal machine. Of course, the machine would include the feature of converting bitcoin to different currencies and maybe the card that will be used would contain the bitcoin address. All of this could happen, if bitcoin will be accepted as a currency and if it will be legalized. If bitcoin will be accepted and legalized, the banks will allow the deposit of bitcoin.

[TravelMug]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

Indeed, a bitcoin ATM machine is great idea. It would be convenient if bitcoin would have it's own withdrawal machine. Of course, the machine would include the feature of converting bitcoin to different currencies and maybe the card that will be used would contain the bitcoin address. All of this could happen, if bitcoin will be accepted as a currency and if it will be legalized. If bitcoin will be accepted and legalized, the banks will allow the deposit of bitcoin.

I just want to try to withdraw just for the experience. Options to choose in what currency you want to exchange your bitcoin is a good concept. It bitcoin is mass adopted, we will see more bitcoin ATM's around the world and if would be very convenient if you travel from one place to another more frequently. Only drawback I can think of is that the fee's are so much high though.

[bitkilo]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

Indeed, a bitcoin ATM machine is great idea. It would be convenient if bitcoin would have it's own withdrawal machine. Of course, the machine would include the feature of converting bitcoin to different currencies and maybe the card that will be used would contain the bitcoin address. All of this could happen, if bitcoin will be accepted as a currency and if it will be legalized. If bitcoin will be accepted and legalized, the banks will allow the deposit of bitcoin.

I think i will be reporting your account to your campaign manager as a signature spammer, user like yourself make this place a total mess these days, a blind man could tell you are only here to claim the sig payment.

All you do it quote the OP and write a few useless lines.
Bitcoin ATM's are already in places all around the world and if you had of taken 5 minutes to even read just a couple of pages of this thread you would know that.

[marketone]

i think it is a very good concept and it attract a lot of customers. from this the concept of transaction became easy. i think atn machine would be smart enough that it can exchange bitcoin into the favourable currency of which user it. and i thin it is very much useful to the customer. He just attach a usb or atm card and just get his amount to the suitable currency......

I think multiple currencies is not possible may be because when an ATM machine is set up in the local area, they need the only fiat corresponding to their country. So in this way bitcoin is beneficial to all members who are using bitcoin.

[pinkpanther03]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

Yeah I'm also wishing that I can find a Bitcoin ATM Machines here in our place. So that it will be convenient for me to withdraw the money from BTC wallet.

I think having a bitcoin ATM machine was a very convenient for the bitcoin enthusiast. As fas as I now we had BItcoin ATM here but too far to my place it takes 2 hours almost before I reach the place and for what the good thing about that was your bitcoin balance can be translated to our currency.

[xypos]

To be honest, i never was encouraged about any kind of bitcoin ATM machines. I jusg always thought that it is easier for me to buy bitcoins directly by using the bank fiat transfer.
I just simply can do wire deposit on some good cryptocurrency exchange, where I may get good rate while buying the crypto I exactly need.

If you want to use BTC ATM then you need to accept the fact that you will need to pay at least 5-6% on every transaction.
That is why I stay away from such a machines.

[mharz]

Bitcoin ATM?? this is prone to the hacker, why they can use ATM if they have an option to deposit amount thru bank. I suggest instead of ATM maybe bitcoin channel to the convenient store like in 7/eleven were the most applicable to buy bitcoin.

[cotton ball]

Bitcoin ATM?? this is prone to the hacker, why they can use ATM if they have an option to deposit amount thru bank. I suggest instead of ATM maybe bitcoin channel to the convenient store like in 7/eleven were the most applicable to buy bitcoin.

Sometimes we need a lot of variants in marketing and promotional strategies, in this case bitcoin atm is a good variation although its use has not been sought by many users, because hackers must have been the first service provider's obligation to consider security. Before the installation phase. It's true that marketing will be very easy to develop if bitcoin services are applied to franchise stores, but in many countries still stumble regulatory issues because they fall under the category of public facilities.

[kolesozw]

I've tried one BTC ATM nearly a month ago. In EU.
And I was disappointed. Too slow, too big fees. BTC ATMs need to go a long run until they get even close convenient as Fiat ones.

I don't know how is outside EU, but here, in almost every country you have companies selling/buying BTC with margin of 2%-3% and almost instant payments.

[DrGuns4Hands]

I hate this if this will happen anyway. no one wants atm machine. bitcoin is been created because it is encrypted and safe at all. and bitcoin also created because we hate fiat money. no one wants paper money and atm machines in bitcoin you could also buy many things and it will be a fast transaction only.

[fathur.aza]

If talking about bitcoin ATM machine I think it should have its wallet.

[grermezter]

Even though that seems to be a wonderful idea, I think the implementation will be very poor and it can lead to the hacking of people's wallet.

[Babyrica0226]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

It is very cool to have an Bitcoin ATM machine in every places of the world. How I imagine if that happen it will surely a very convenient for us to withdraw our bitcoin balance and will dispense according to our currency.

[darthmaul]

Wow that would be really cool. But im wondering who will operate those giant chains of ATM. If atm is to be placed then someome has to work after its maintenance, daily checks of servers, and also big question who will keep hard cash in the Atm? That cash has to come from somewhere which should be regulated. Its bit tricky though. But the idea is amazing, earning online and getting big bucks cashed out immediately. :-)

[onrise]

In our country we do not have BTC Atm machine and certainly it will not come because it's not mangef by any institutions here and without any government authority you cannot place such things and it's not even controlled by government this coins . So no question of such machines to be placed.

[Harlot]

In our country we do not have BTC Atm machine and certainly it will not come because it's not mangef by any institutions here and without any government authority you cannot place such things and it's not even controlled by government this coins . So no question of such machines to be placed.

Its not a matter of legality really, Think of Bitcoin Machines as a sort of Money Changers the only different thing is that it is Automated and the Currency you are converting is a Virtual Currency. As long as there is an exchange of goods it can be considered legal and if there are no other laws being violated you are safe. Also right now almost all of our convenience store have this Multi-Function Machines that includes Buy and Sell of Bitcoin in which we can see they are also taking advantage of the exchange rate of the cryptocurrency.

[Idrisu]

Have an a ATM machine were one will just plugs the flash drive that contains your wallet and withdrew cash will be another step forward in making bitcoin acceptable all over the world. Though it should not just be plug in usb and get cash but also a provision were you type in your wallet address and also get cash.

[asu]

In our country we do not have BTC Atm machine and certainly it will not come because it's not mangef by any institutions here and without any government authority you cannot place such things and it's not even controlled by government this coins . So no question of such machines to be placed.

Me too in my country doesn't have bitcoin ATM Machines. But it not more needed we just need a exchanger that we can exchange our Bitcoin (BTC) to a real money. Well definitely we have a reliable exchange that often us to exchanges our Bitcoin to a real cash and its good. Hopeless that also we have Bitcoin ATM Machines

[SamsungBitcoin]

In our country we do not have BTC Atm machine and certainly it will not come because it's not mangef by any institutions here and without any government authority you cannot place such things and it's not even controlled by government this coins . So no question of such machines to be placed.

Me too in my country doesn't have bitcoin ATM Machines. But it not more needed we just need a exchanger that we can exchange our Bitcoin (BTC) to a real money. Well definitely we have a reliable exchange that often us to exchanges our Bitcoin to a real cash and its good. Hopeless that also we have Bitcoin ATM Machines

Here in my country there is a bitcoin atm machines but i do not know where it is and i think much better to have an atm machine for faster cashing out our bitcoin to real money.
Also i think atm machine was much small charges than using an exchange and also you do not need to wait for confirmation anymore.

[shinratensei_]

I think much better to have an atm machine for faster cashing out our bitcoin to real money.

Did you ever heard about the atm criminals on USA, It has destroyed by some people.
https://themerkle.com/various-bitcoin-atms-destroyed-in-us-localities/
It's not an effective idea, in my opinion, The bitcoin atm is so weak.

Also i think atm machine was much small charges than using an exchange and also you do not need to wait for confirmation anymore.

In fact, if the bitcoin atm will charge you more than what will you get from the exchange site.
I think you can try to search the old thread in here about that.
In my experience, if i have got over $5 charges just for withdraw my money use bitcoin atm. and it's too far to being worth for bitcoiners.

[darthmaul]

To be honest, i never was encouraged about any kind of bitcoin ATM machines. I jusg always thought that it is easier for me to buy bitcoins directly by using the bank fiat transfer.
I just simply can do wire deposit on some good cryptocurrency exchange, where I may get good rate while buying the crypto I exactly need.

If you want to use BTC ATM then you need to accept the fact that you will need to pay at least 5-6% on every transaction.
That is why I stay away from such a machines.

Yeah possibly it would be hard to accept the transaction fees. For bitcoin maintaining at physical machine can lead to heavy duties and also Im thinking it would become partially decentralised as government will have some rules and regulations of ATM machines. It might become little difficult to accept the ATM's with virtual currency on it. Plus ATM operator will have to look after regions in which they are operating these machines as Bitcoin is not accepted by each and every person. So transaction will be lesser and maintenance would be more. Its tricky though, but yeah fess will be there. 

[Kevin77]

I think much better to have an atm machine for faster cashing out our bitcoin to real money.

Did you ever heard about the atm criminals on USA, It has destroyed by some people.
https://themerkle.com/various-bitcoin-atms-destroyed-in-us-localities/
It's not an effective idea, in my opinion, The bitcoin atm is so weak.

Also i think atm machine was much small charges than using an exchange and also you do not need to wait for confirmation anymore.

In fact, if the bitcoin atm will charge you more than what will you get from the exchange site.
I think you can try to search the old thread in here about that.
In my experience, if i have got over $5 charges just for withdraw my money use bitcoin atm. and it's too far to being worth for bitcoiners.

Oh this really is not good for the exchanges, or maybe there comes a role of the exchange through the ATM development for future, but the transaction will become faster than ever.

I don’t think the Bitcoin ATM service can be provided to most parts of the world. It will charge you more for the conversion into the local currency because a team will be hired for the ATM machine maintenance and these expenses will be definitely paid by the users.

[retrocoingames]

These have to start popping up in Japan soon?!

[MoneyIsDebt]

If talking about  ATM machine I think it should have its wallet.

it is difficult for the organizers as well to exchange them into the specific currency of the specific person or get linked with different exchanges of different countries. i think this is not a right idea and most of the peoples who used it for investment purpose definetly dislike it.

[Anjing Lu]

This is a good idea, with the presence of ATM bitcoin ensure easy bitcoin users conduct transactions mainly take the money without having to use the services of the exchangers.

[KennyR]

This is a good idea, with the presence of ATM bitcoin ensure easy bitcoin users conduct transactions mainly take the money without having to use the services of the exchangers.

Recently bitcoin ATM's gained more popularity. This in a short got out of use in most of the places causing a reduction in the number of bitcoin ATM's around the world which is mostly due to the increased withdrawal fee than what's been levied by the exchanges.

[ocid]

This is a good idea, with the presence of ATM bitcoin ensure easy bitcoin users conduct transactions mainly take the money without having to use the services of the exchangers.

Yes, i know it sounds it is easy to transact.
But if atm bitcoin there have been many is in all countries therefore should the bank bitcoin in agree on by government.

[willamT]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

I am waiting for that day to come...!!

[Xester]

This is a good idea, with the presence of ATM bitcoin ensure easy bitcoin users conduct transactions mainly take the money without having to use the services of the exchangers.

Yes, i know it sounds it is easy to transact.
But if atm bitcoin there have been many is in all countries therefore should the bank bitcoin in agree on by government.

Bitcoin ATM machines are a good thing and will help bitcoin a lot but the problem is the huge miner fees. In our country the charge per transaction in withdrawing local currency to atm is 7 pesos but the miner fees per transaction for bitcoin is at 60 pesos. Now you see the huge difference the banking charges is much lesser than the miner fees, if only I am not earning bitcoin the huge miner fee will discourage me from using it.

[sportis]

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.

[bartolo]

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.

That's because there are few bitcoin ATM machines, there is not much competition, nor are there many other places where users can exchange their bitcoins for fiat money. As more ATMs are installed and more establishments offer the possibility of exchanging bitcoin for fiat or directly making purchases with bitcoin, then the fees will tend to be smaller.

[raven7886]

In our country we do not have BTC Atm machine and certainly it will not come because it's not mangef by any institutions here and without any government authority you cannot place such things and it's not even controlled by government this coins . So no question of such machines to be placed.

Me too in my country doesn't have bitcoin ATM Machines. But it not more needed we just need a exchanger that we can exchange our Bitcoin (BTC) to a real money. Well definitely we have a reliable exchange that often us to exchanges our Bitcoin to a real cash and its good. Hopeless that also we have Bitcoin ATM Machines

Why are you hopeless and what drives your moral and motivation down ?

It is still the early age of the bitcoin its recognition and recommendations yet have to be adopted by many of the people. Look at where the bitcoin is standing now it was not there a year before… Why is it like that? These are the thing that keeps me motivated.

[stompix]

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.

Same for me , an extra 6% on an "average" rate I don't form where they take it.
Also I have to scan my id to get cash so it's big no  for me.

I'd rather user localbitcoins with cash in person than the atm.

[crazycatwoman03]

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.

That's because there are few bitcoin ATM machines, there is not much competition, nor are there many other places where users can exchange their bitcoins for fiat money. As more ATMs are installed and more establishments offer the possibility of exchanging bitcoin for fiat or directly making purchases with bitcoin, then the fees will tend to be smaller.

There is only one Bitcoin ATM machine available here in our country. It is located in one of the cities in the capital which makes it unreachable for people, like me, in the provinces. We use other other available cards that supports bitcoin transactions which enables us to withdraw bitcoin into our currency and then to paper money.

[Cherylstar86]

My country today I wasn't able to see any bitcoin atm machines, but there were banks recommended to cash out your bitcoin balances that you needed. A hope for future implementation in my country soon, and I thinks that's much more profitable with the banks and to the people to have bitcoin atm machines provided by bank owners in my country.

[sana54210]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

It is very cool to have an Bitcoin ATM machine in every places of the world. How I imagine if that happen it will surely a very convenient for us to withdraw our bitcoin balance and will dispense according to our currency.

This is no doubt , this idea will be get warm welcome but it should be feasible. I am not recommending every place of the world but on the average where the bitcoin is used commonly. Even if you install it at a place where there are less number of people using the BTC can work as a marketing tool for the BTC and people can come to know about it and adopt it.

[Yatsan]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

Here in our country we have an web and application wallet that support the ATM machine it's have a cardless ATM cash out so that the cash out here in our country is not that hassle you will just cash out through ATM by just inputting the 16digit code that sent to your email and then you can cash out your money without card just bitcoin only and it is hassle free and no risk at all.

[TastyChillySauce00]

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.

Well, people in need of bitcoin or fiat and want to exchange it with the convenient way as you mentioned may not thinking twice because it's kinda emergency situation if there's a way they'll seem to use the another.
Paying Kraken's rate +7% is really expensive indeed, but, it's not a big problem as long as you can get either bitcoin or fiat withing few minutes.

[Faiyz]

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.

Where is your country? hmm im curios too. if that would be possible then does it have taxes?
i think most of us here just converts to fiat?

[gabmen]

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.

Where is your country? hmm im curios too. if that would be possible then does it have taxes?
i think most of us here just converts to fiat?

I think that's what he means dude. Bitcoin doesn't have any physical form anyways. Another thing is when banks allow btc withdrawal. It's not exclusively for bitcoins but there are banks who offer cardless withdrawals connected to a btc wallet. Though again it's converted to fiat before you can withdraw

[stompix]

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.

That's because there are few bitcoin ATM machines, there is not much competition, nor are there many other places where users can exchange their bitcoins for fiat money. As more ATMs are installed and more establishments offer the possibility of exchanging bitcoin for fiat or directly making purchases with bitcoin, then the fees will tend to be smaller.

There is only one Bitcoin ATM machine available here in our country. It is located in one of the cities in the capital which makes it unreachable for people, like me, in the provinces. We use other other available cards that supports bitcoin transactions which enables us to withdraw bitcoin into our currency and then to paper money.

You should make up your mind is it located in one of the cities or it is located in the capital.
Never heard of a country with more cities as a capital , lol.

And what you;re doing is basically having a card with fiat money and you're using both the bank and the visa network.
What's the point of bitcoin then...

[jovs]

A better idea is for the machine to display a QR Code, you scan it and send your bitcoins to that address (using your own device), then you get your cash. Putting your private key data on a public machine is kinda dumb. The problem is that an ATM can't afford to wait several minutes for confirmation (though there are solutions).

Exactly!!!

Send coins to the machine from your phone, get USD cash. Doesn't even need to wait for confirmations.

I also like the idea of this bitcoin ATM. Im sure many people will also like the idea of these. It will be less hassle for people goingtodifferent country with different currencies. I think it will be more easy to convert bitcoins to cash. Just gotta have proper machines to handle this to be sure that you bitcoins will be protected.

[Supercrypt]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

It is very cool to have an Bitcoin ATM machine in every places of the world. How I imagine if that happen it will surely a very convenient for us to withdraw our bitcoin balance and will dispense according to our currency.

This is no doubt , this idea will be get warm welcome but it should be feasible. I am not recommending every place of the world but on the average where the bitcoin is used commonly. Even if you install it at a place where there are less number of people using the BTC can work as a marketing tool for the BTC and people can come to know about it and adopt it.

I am not sure what is the good idea about it, I mean it is good for people who don’t know where to get bitcoin and good for promotion but other than that, people who already know and use bitcoin everyday it wants be efficient for them because as you would imagine bitcoin ATM are just like regular ATM they take fees when you want to withdraw from them, and probably even more fees since it requires to exchange it.

[rhamzter]

I think bitcoin ATM was no used, because how can we used it? Digital currency was a numbers only, that appears in our account. However if Bitcoin currency is withdrawable to the ATM it's a big help to us to easily encash our money.

[virasog]

This is a good idea, with the presence of ATM bitcoin ensure easy bitcoin users conduct transactions mainly take the money without having to use the services of the exchangers.

Yeah, i want this idea, transactions will be made so easy and fast. No need for us to wait for more confirmation to come before we receieve the money. But this will take no banks if so? I hope not.  Before using the ATM, we need to find a way to speed up the confirmation time and only then Bitcoin ATM can be fruitful.

[MrBitco.in]

Yeah, i want this idea, transactions will be made so easy and fast. No need for us to wait for more confirmation to come before we receive the money. But this will take no banks if so? I hope not.  Before using the ATM, we need to find a way to speed up the confirmation time and only then Bitcoin ATM can be fruitful.

The GB BATM three ( https://www.generalbytes.com/batmthree/ ) does exactly this. zero-confirmation withdrawals allow for instant cash-out (up to a certain amount) of cash from the Bitcoin ATM. The ATM sees the incoming transaction, calculates the risks of double spend or other problems (for example, too low fee) and decides to make end-user wait for confirmation or.... in most cases, dispense cash immediately. This has quietly revolutionized the Bitcoin ATM industry, lowered the number of support calls to operators and in general makes the whole user experience a lot smoother.

BTW: None of the other Bitcoin ATM manufacturers offer this feature at this time, only the GB BATM3 models.

[freedomno1]

Yeah, i want this idea, transactions will be made so easy and fast. No need for us to wait for more confirmation to come before we receive the money. But this will take no banks if so? I hope not.  Before using the ATM, we need to find a way to speed up the confirmation time and only then Bitcoin ATM can be fruitful.

The GB BATM three ( https://www.generalbytes.com/batmthree/ ) does exactly this. zero-confirmation withdrawals allow for instant cash-out (up to a certain amount) of cash from the Bitcoin ATM. The ATM sees the incoming transaction, calculates the risks of double spend or other problems (for example, too low fee) and decides to make end-user wait for confirmation or.... in most cases, dispense cash immediately. This has quietly revolutionized the Bitcoin ATM industry, lowered the number of support calls to operators and in general makes the whole user experience a lot smoother.

BTW: None of the other Bitcoin ATM manufacturers offer this feature at this time, only the GB BATM3 models.

This sounds like a smart feature base it on transaction fee time it takes a while for the confirmation but double spends are likely uncommon. Out of curiosity though I wonder why lamassu and genesis avoid it.
https://coinatmradar.com/blog/revenue-and-costs-of-running-a-bitcoin-atm/
Seems related though but GB does seem cheaper it is also a smaller unit so perhaps the risk of stealing is higher but the back-end is also important and how many issues there are with them.

[Captimiz]

It's a trust problem, how can you trust the ATM not to take your wallet.dat files?

[Noctis Connor]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

Yes it be cool and nicer for us who using bitcoin but pluging USB to cover bitcoin wallet? Maybe it will be virus and will be stolen by someone else or so called hacker internet even a atm machine are not safe isn't it maybe technology are now implemented this kind of machine.

[bartolo]

a bitcoin atm machine would be cool.   plug in your USB stick that contains your wallet.dat, and withdrawal the amount of Cash you need.   

Yes it be cool and nicer for us who using bitcoin but pluging USB to cover bitcoin wallet? Maybe it will be virus and will be stolen by someone else or so called hacker internet even a atm machine are not safe isn't it maybe technology are now implemented this kind of machine.

As far as I know Bitcoin ATMs don´t work like that. The mechanism is simpler, the machine shows you a QR addres that you scan with your device, you send the coins to that address and the ATM gives you the money. If you want to buy bitoin the ATM scans you QR address on you device, you put the money into de ATM and the system sends you the coins.

[Hazir]

It's a trust problem, how can you trust the ATM not to take your wallet.dat files?

Buying/selling bitcoin via manipulation/transfer of your private keys/wallet.dat shouldn't be allowed in BTM trading.
It doesn't matter whether BTM is trusted, there is always a problem with skimming fraud.
There is nothing wrong with normal on-chain transaction, that is the primary way BTC should be transferred.

[Buttercup123]

In my country there are two bitcoin atm's. One of them is a two way machine, that is, fiat to crypto and vice versa. It's a convenient way but is very expensive for frequent usage. Does anyone is happy paying a rate kraken+7%.

That's because there are few bitcoin ATM machines, there is not much competition, nor are there many other places where users can exchange their bitcoins for fiat money. As more ATMs are installed and more establishments offer the possibility of exchanging bitcoin for fiat or directly making purchases with bitcoin, then the fees will tend to be smaller.

There is only one Bitcoin ATM machine available here in our country. It is located in one of the cities in the capital which makes it unreachable for people, like me, in the provinces. We use other other available cards that supports bitcoin transactions which enables us to withdraw bitcoin into our currency and then to paper money.

I am from the Philippines and there is only one bitcoin ATM machine available here too. Since it's location is far from us too we use Paypal cards to withdraw our bitcoin by converting it first to our currency. Even though there is a fee, this method is very convenient for us since it is much easier and the fee for the transaction is lower compared to the fare from our location to the machine's location.

[RajaJudi]

I think bitcoin ATM was no used, because how can we used it? Digital currency was a numbers only, that appears in our account. However if Bitcoin currency is withdrawable to the ATM it's a big help to us to easily encash our money.

Bitcoin ATMs have appeared in many countries and I find that it is very easy to use in order to cash out your Bitcoin. I think you dont like it because there is not any BTM in your local area

[bitkilo]

I think bitcoin ATM was no used, because how can we used it? Digital currency was a numbers only, that appears in our account. However if Bitcoin currency is withdrawable to the ATM it's a big help to us to easily encash our money.

Bitcoin ATMs have appeared in many countries and I find that it is very easy to use in order to cash out your Bitcoin. I think you dont like it because there is not any BTM in your local area

I don't mind using a bitcoin ATM to purchase coins if needed urgently but the markup the operators put on the btc price is often way too high to make it a sensible regular option.

Cashing out is a different story, of all the 2 way bitcoin ATM's i know of i would not use amy of them due to the personal information they require, copy of ID, palm print, probably a iris scan. It's just over the top and not what bitcoin is about.

[Meowth05]

This is a good idea, with the presence of ATM bitcoin ensure easy bitcoin users conduct transactions mainly take the money without having to use the services of the exchangers.

Yeah, i want this idea, transactions will be made so easy and fast. No need for us to wait for more confirmation to come before we receieve the money. But this will take no banks if so? I hope not.  Before using the ATM, we need to find a way to speed up the confirmation time and only then Bitcoin ATM can be fruitful.

Indeed, having a bitcoin ATM machines will be a great idea because it can make transaction a lot more easier. However, there will be some conflicts like it might your flash drive will get some virus or it might be hacked and your fund will be stolen. So its better to think more solutions to avoid this problem.

[bitkilo]

This is a good idea, with the presence of ATM bitcoin ensure easy bitcoin users conduct transactions mainly take the money without having to use the services of the exchangers.

Yeah, i want this idea, transactions will be made so easy and fast. No need for us to wait for more confirmation to come before we receieve the money. But this will take no banks if so? I hope not.  Before using the ATM, we need to find a way to speed up the confirmation time and only then Bitcoin ATM can be fruitful.

Indeed, having a bitcoin ATM machines will be a great idea because it can make transaction a lot more easier. However, there will be some conflicts like it might your flash drive will get some virus or it might be hacked and your fund will be stolen. So its better to think more solutions to avoid this problem.

There is no way a bitcoin ATM will make transactions any easier, they make purchasing a little easier but you pay a premium for that.

I think the name ATM is confusing a lot of people, it is better to think of these machines as a bitcoin kiosk or simply just a place to buy or sell bitcoins. You cannot use these machines to send  btc to your friend, these are just used to buy and sell bitcoins.