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Author Topic: Would you normally trust a Bitcoin ATM?  (Read 1971 times)
thejaytiesto
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December 11, 2014, 11:35:34 AM
 #21

Why not, haven't heard of any occurrence so far.
Well, this was pretty embarrassing:

https://www.youtube.com/watch?v=vnm4xFC2xNo

Never cashed out and dont plan to, but i hope ATM is working by then.
newflesh
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December 11, 2014, 11:44:39 AM
 #22

Yeah I'd trust a btc ATM, you've got nothing to worry about unless.....


SirChiko
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December 11, 2014, 12:28:27 PM
 #23

I trust BTC ATMs but only the established ones now the new companies till they aren't on market long enought time.

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Notanon
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December 11, 2014, 02:48:20 PM
 #24

I'd probably use $20 for an ATM I've never used before, and then go up from there once I've established it is trustworthy. Probably never more than $100 at a time, though.
allthingsluxury
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December 11, 2014, 03:10:00 PM
 #25

Where is the risk in getting bitcoins?

You get the bitcoins...they can't be taken back.

Getting the bitcoins is the preferred outcome, however, there's a bit in the middle there where machine has your cash, and you have not got the bitcoins.

Yah this is a risk you have to take, although you'll know if you were ripped off almost immediately and then could deal with. I doubt someone would want to put their expensive machine in that dangerous situation.

caga
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December 11, 2014, 03:23:49 PM
 #26

Where is the risk in getting bitcoins?

You get the bitcoins...they can't be taken back.

Getting the bitcoins is the preferred outcome, however, there's a bit in the middle there where machine has your cash, and you have not got the bitcoins.

Yah this is a risk you have to take, although you'll know if you were ripped off almost immediately and then could deal with. I doubt someone would want to put their expensive machine in that dangerous situation.

The cheapest bitcoin atm cost around 300-500$, and maybe if the owner gets a request for more, he could possibly keep your cash Tongue
JK, I don't think they will do this, there can be legal issues and their reputation would be at stake.

thejaytiesto
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December 11, 2014, 06:54:48 PM
 #27

Well if you watch that video, you can see you risk not having your bitcoins delivered on time and being stuck on there, that would be hell. It definitely needs a lot of improvement and a better more anonymous and instant service.
countryfree
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December 11, 2014, 10:25:14 PM
 #28

Yeah I'd trust a btc ATM, you've got nothing to worry about unless.....




Good pic. I guess I would not use a BTC ATM straight away after seeing it. I'll wait a while till I see some other people using it successfully.

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randy8777
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December 12, 2014, 12:20:41 AM
 #29

it depends on what kind of atm. i have read about atms that need to scan documents and such. these i will never trust. depends on the verification, really.
jsgayo
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December 12, 2014, 03:39:50 AM
 #30

I have no experience Bitcoin ATM use and would like to try.

bitcoinmind
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December 12, 2014, 04:15:58 PM
 #31

It's hard to trust Bitcoin ATM for me
Expect i can buy bitcoin with paper money and no camera nearby ATM

And not asking any personal information
Otherwise, i won't use bitcoin ATM

Do you think you'll ever have the BTC on paper?
Flashman
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December 12, 2014, 06:36:13 PM
 #32

I am also guessing that confirmations might be an issue, if you are selling BTC(in the bidirectional ones), which might lead to waiting in lines.

I believe some of them print you a machine readable receipt and tell you to come back in 20 mins or so.

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BitCoinNutJob
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December 12, 2014, 06:48:52 PM
 #33


yes i would trust them with smaller amounts, just watch out for camera snapping your private keys or something, cover everything just like a pin.
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December 12, 2014, 06:57:12 PM
 #34

Where is the risk in getting bitcoins?

You get the bitcoins...they can't be taken back.

Getting the bitcoins is the preferred outcome, however, there's a bit in the middle there where machine has your cash, and you have not got the bitcoins.
Oh I see. Well, in that case i would take a hammer to the machine and make it a very costly scam.  Wink

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