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Author Topic: Bitcoin Atms  (Read 3188 times)
LordSonjai (OP)
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December 19, 2014, 10:16:58 PM
 #1

I see a lot of hate towards bitcoin on the internet through google news but I came across this video.

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

Not going to lie,the Atm is a scam,wish I saw this before I posted on that other thread about bitcoin atms and if they could be trusted. I now understand why the atms that existed in my town were pulled from the floor. I personally never used them.

In my opinion bitcoin Atms aren't necessary,it just seems like another jig to make money off of people,its certainly not convenient. Which is my opinion,but the proof is in the pudding. Personally I have never used a bitcoin ATM,even though their was 2 in my town at one point. Reason wasnt because I didnt trust it. But because I didnt feel like it.

In any event,these Atms give bitcoin a bad name,they aren't about pushing bitcoin forward they are about making money,its a scam. 
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December 19, 2014, 11:38:57 PM
 #2

I have never used even a FIAT atm so why would I use a bitcoin atm?
exoton
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December 20, 2014, 10:03:28 AM
 #3

bitcoin ATMs are a way for their operators to make money, just like the exchange operators make money from people trading bitcoin on their exchange. There is no reason for the operators of the ATM to not receive some kind of compensation for their services
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December 20, 2014, 11:28:52 AM
 #4


In any event,these Atms give bitcoin a bad name,they aren't about pushing bitcoin forward they are about making money,its a scam. 

OK, simple question for you, why won't you develop and install your own bitcoin ATM which doesn't charge any fees?
Since you're asking others to operate without profit (therefore making loss) why don't you do it yourself?

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LiteCoinGuy
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December 20, 2014, 11:33:03 AM
 #5

is that a roboscam-atm  Roll Eyes ?

Daniel91
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December 20, 2014, 11:37:09 AM
 #6


In any event,these Atms give bitcoin a bad name,they aren't about pushing bitcoin forward they are about making money,its a scam. 

OK, simple question for you, why won't you develop and install your own bitcoin ATM which doesn't charge any fees?
Since you're asking others to operate without profit (therefore making loss) why don't you do it yourself?

Very good point.
Recently, just a few months ago, my country got first BTC ATM.
I still didn't use it but like the idea to be able to go to ATM and cash out BTC, as any other currency in the world.

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Notanon
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December 20, 2014, 11:54:43 AM
 #7

Has been talk of installing one in Perth for some time, but has been delayed by months.
fvs114
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December 20, 2014, 12:06:27 PM
 #8

I'm using it to cash out btc from time to time.
solomon
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December 20, 2014, 12:27:43 PM
 #9

The problems they encountered in the video are partly the misunderstanding of what a Bitcoin ATM is (not an ATM) and a lack of understanding of some of the features of bitcoin required for it to be useful (Not understanding the miners fee)

A bitcoin vending machine in concept is not a scam. The barriers come from the friction between vending a digital, frictionless asset out into a physical, regulated world.

bitcoin price ticker | bits.so
CoinATMRadar
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December 20, 2014, 12:30:21 PM
 #10

Don't judge about bitcoin ATMs just based on one very old video..

Looking for BITCOIN ATM close to you? Check Bitcoin ATM Map from CoinATMRadar.
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December 20, 2014, 12:33:13 PM
 #11

i don't think they are really useful either, just a plus for merchant nothing else
JLynn171
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December 20, 2014, 12:49:13 PM
 #12

There is one located in Dallas and since i am not too far from tat location and i usually have a need for bitcoin and dont have ne but usually do have USD bills on hand i could see this BTC ATM coming in handy for me... after i use it for first time i will come back and give personal review since this video looks like it may be  a lil outdated
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December 20, 2014, 03:06:32 PM
 #13

Bitcoin ATMs are cool, to buy bitcoins for people, not aware of various online services.
 It also increases adoption and awareness about bitcoin amongst people.

Wonka
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December 20, 2014, 03:33:57 PM
 #14

I have never used even a FIAT atm so why would I use a bitcoin atm?

You've never used an ATM? How can people avoid them in this day and age?
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December 20, 2014, 03:43:28 PM
 #15

i don't think they are really useful either, just a plus for merchant nothing else

Amph, I think you underestimate how many people will buy the coins from the atm that, without which, wouldnt purchase bitcoin/know how to purchase it at all.
elephantas1
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December 20, 2014, 03:44:56 PM
 #16

I have never used even a FIAT atm so why would I use a bitcoin atm?

You've never used an ATM? How can people avoid them in this day and age?
Maybe he always use credit card
exoton
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December 20, 2014, 04:17:37 PM
 #17

i don't think they are really useful either, just a plus for merchant nothing else
The first bitcoin atm that is in Vancoover BC has been tremendously successful. It has been so successful that people would actually go to the coffee shop it is located in to compete with it, and once the ATM's owner got a wind of this, they were able to pay someone $10 an hour to sit near the ATM to fend off people trying to beat it's rates and to educate people about bitcoin (and it still remained profitable).
LordSonjai (OP)
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December 21, 2014, 06:53:51 AM
 #18

bitcoin ATMs are a way for their operators to make money, just like the exchange operators make money from people trading bitcoin on their exchange. There is no reason for the operators of the ATM to not receive some kind of compensation for their services

Greed doesnt even begin to explain the issue with these machines,they are stealing from people do you understand that?They are literally robbing people for their money AND bitcoins. I would respect your opinion but buddy,lets keep it G real...
LordSonjai (OP)
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December 21, 2014, 06:55:30 AM
 #19

i don't think they are really useful either, just a plus for merchant nothing else

Amph, I think you underestimate how many people will buy the coins from the atm that, without which, wouldnt purchase bitcoin/know how to purchase it at all.

Honestly,I don't know why someone would use a bitcoin Atm I'm not sure if I mentioned that in my post but if you do a little research you would find it is easier to buy over the web. I started buying bitcoin on coinbase day 1 from home.
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December 21, 2014, 07:02:21 AM
 #20

i don't think they are really useful either, just a plus for merchant nothing else

Amph, I think you underestimate how many people will buy the coins from the atm that, without which, wouldnt purchase bitcoin/know how to purchase it at all.

Honestly,I don't know why someone would use a bitcoin Atm I'm not sure if I mentioned that in my post but if you do a little research you would find it is easier to buy over the web. I started buying bitcoin on coinbase day 1 from home.

It is easier for USA based customers to use coinbase but it's a pain in the ass for others. And some people prefer to buy bitcoins anonymously without giving out their important documents, which they fear might get misused. And Bitcoins ATMs provide them just that.

They want to know my income, how much money I have, and they want me to upload my passport.

Why?

I am not asking for credit or anything like that, I just want to buy bitcoin using cleared funds.


 

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