Biggest Shopping Mall in USA Goes All in BTC ATMs for Holiday - page 2.

Nolimitz84

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Quote from: Kprawn on November 27, 2019, 11:45:07 AM

Having the Bitcoin ATMs there is all good and well, but if the people are just buying to spend it at merchants that would convert it to Fiat, then it

would have zero influence on the price. True adoption needs more P2P trades without these ATMs adding high fees for the transactions. Do not get

me wrong, I am not saying it is totally bad for adoption... I am just saying that it is not the ideal method to put bitcoins into people's wallets. Now

the shops in the Mall should just give extra discounts for people paying in bitcoins...then we will see good adoption taking place there. Wink

This is understandable, but still the news is very happy.The process of accepting bitcoin is gradually going in a positive direction.And do not wait for the price increase, it will be enough if everyone uses bitcoin more often and not fiat.

Dabs

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Some people decide to just buy bitcoins without necessarily spending them and an ATM provides them a way to do it locally and semi-anonymously, without going through an exchange.

If you're holding for the long term and don't get small value (or max out what the ATM allows), then the fees should be little concern.

nicecrypto

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This is certainly a good news in my opinion, the most important thing is seeing this ATM growing in numbers in every possible Mall that can attract the attention of many people, this may not result to mass adoption like some members are saying but it is heading to a positive direction, having a btc atm in malls for swift transactions is definitely important for more awareness.

Baofeng

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Quote from: Tronx on November 27, 2019, 11:29:38 AM

This is the biggest News for the adoption of bitcoin. Time for bitcoin everywhere.

I wouldn't call this the "biggest news" though. US alone has more than 4000 Bitcoin ATM but it didn't result to the mass adoption because fee's using this ATM's are still very high. Although it makes people curious and might try to used to it. Maybe the people behind installing this ATM's in the biggest shopping mall in the US is to take advantage of curious US buyers and of course to make profit out of this holiday seasons.

taufik123

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US regulations regarding Bitcoin ATMs and their use are indeed legal and can be applied everywhere.
Simon Mall's existing strategy in the US is a new strategy to attract the interests of the US people to shop by exchanging Bitcoin at Bitstop.
This is to welcome the Black Friday Event and Christmas Day.
But in several other countries, Bitcoin ATMs still don't get clear regulations, even transactions using Bitcoin are still not legal.
Bitcoin is currently only used for price speculation and to profit from any fluctuating value of Bitcoin.

msarro

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Quote from: Kprawn on November 27, 2019, 11:45:07 AM

True adoption needs more P2P trades without these ATMs adding high fees for the transactions.

ATMs are just like a middlemen. One goal of crypto was to make p2p fund transfer possible and eliminate the middlemen.
ATMs are in some way destroying the crypto objective in some way. Correct me if i am wrong

Excell110

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Finally, a mall that accepts cashless transactions.
I know it's just for a moment, but if feels good seeing people adopting bitcoin, it is a step forward

JohnBitCo

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Quote from: NeuroticFish on November 29, 2019, 08:37:34 AM

Quote

With the strategic timing of this new installation of Bitcoin ATMs at Simon Mall locations, customers can conveniently buy Bitcoin while doing their Black Friday and Christmas holiday shopping

People tend to spend more than usual during holidays, so I expect people use those ATM mostly to sell during Black Friday and Christmas.
On the other hand it's good for advertising and exposure and most probably they'll buy back at a later point.

Although Bitcoin can be an interesting gift, I don't expect people that buy from ATM make/get gift card - like paper wallets for presents.

During the holidays, the banks and also local bitcoin exchangers are usually closed and hence having a bitcoin ATM is a blessing for those who want to cash out bitcoins during the holidays. I will someone may publish the list and location of all the bitcoins atm's in my city.

NeuroticFish

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Quote

With the strategic timing of this new installation of Bitcoin ATMs at Simon Mall locations, customers can conveniently buy Bitcoin while doing their Black Friday and Christmas holiday shopping

People tend to spend more than usual during holidays, so I expect people use those ATM mostly to sell during Black Friday and Christmas.
On the other hand it's good for advertising and exposure and most probably they'll buy back at a later point.

Although Bitcoin can be an interesting gift, I don't expect people that buy from ATM make/get gift card - like paper wallets for presents.

blckhawk

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I just hope that the fees are not too much for what you pay for, because if so, it might discourage newcomers to Bitcoin in investing and using it, because their first impression is that it's much expensive to buy versus its market price.

Still though, if this would pull off, then most likely, stores and merchants inside the mall would soon follow the trend and adopt too, making the Bitcoin ecosystem and community alive and would really be used as a mode of payment rather than a speculative asset. Volatility won't matter if they make a system that would convert Bitcoin instantaneously upon recieving to fiat, eliminating possible loss of value from holding.

eaLiTy

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Quote from: Tronx on November 27, 2019, 11:29:38 AM

This is the biggest News for the adoption of bitcoin. Time for bitcoin everywhere.

The news is great, but if there is a clarity about the transaction and the conversion charges and their commission to purchase the coins through the ATM then it would be great and we can come to a conclusion whether this is installed to boost BTCitcoin or to get news attention. If you look at charges these ATM machines charge you will understand that you are not going to get the coins like we used to get from exchanges, bank transfer is more convenient to purchase through exchanges rather than going to an ATM.

airdnasxela

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So are they going to install bitcoin ATMs on that mall for holidays like black Friday and Christmas? Well that's actually a great strategy for both company. Bitcoin users might be able to use it while shopping. As well for the ATM company, installing it during holidays is a good strategy to let more people notice bitcoin ATM. That's actually a good promotion strategy.

Murat

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In the current situation, this isn't perfect at all, since the price is not passing a good time so this time is not for Bitcoin adoption for the mass level, on the other hand, Bitcoin transaction should be a more easy process in a short time. if you provide a lot of facilities for the Bitcoin adoption then it might be effective but with the current situation newcomer will not get satisfied both price and market, so only ATM and Market are not enough to get popular around this country, but the initiative should deserve credit to bring into the light of this system in public for the mass adoption.

NeironixNV

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Quote from: Tronx on November 27, 2019, 11:29:38 AM

This is the biggest News for the adoption of bitcoin. Time for bitcoin everywhere.

Quote

“With the strategic timing of this new installation of Bitcoin ATMs at Simon Mall locations, customers can conveniently buy Bitcoin while doing their Black Friday and Christmas holiday shopping. Bitcoin is the perfect gift for family and friends this holiday season. Our Bitstop Bitcoin ATM mall locations are at the forefront of a trend as Bitcoin and digital currencies become part of the mainstream culture.”

Quote

This is another series of marquee locations after our recent Bitstop Bitcoin installation at the Miami International Airport back in October. We want to make sure our customers always have convenient access to our Bitcoin ATMs.
There are now over 130 convenient Bitstop Bitcoin ATM locations across the country, with many more growing every month. We intend to expand our Bitstop network to include 500+ locations by the end of 2020.”

Source: https://dailyhodl.com/2019/11/26/largest-shopping-mall-operator-in-the-us-goes-all-in-on-bitcoin-atms-for-holiday-shoppers/

Yes, this is really cool news for bitcoin, I read about it at neironix, though these ATMs are not very profitable in the plan of commissions, and they are very limited in terms of cashing out bitcoins into banknotes, I think that on such a day with discounts they should be emptied to $0.

Eugenar

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Quote from: dothebeats on November 28, 2019, 02:19:57 PM

Placing ATMs would not get adoption rates high, but at least it catches the attention of people who will be out and about the said mall. It's a good PR stunt for the mall and the ATM operator knowing that it's a win-win situation for both of the parties. However though, the mall got the most advantage since we don't know whether people will actually use those ATMs for once or not, but the mall would still receive the rent for the stay of these machines.

Either way, any publicity is good publicity!

Basically, if the people could see the ATM in a mall then it will surely induce adoption in the market. I've been first curious about bitcoin when I see the logo of it and the information from it from my friends. In that case, I pursue adopting bitcoin knowing that it could be a great investment in the future. If people spot a bitcoin atm, then they will surely start to be curious and look for the information about it. Plus, if they ask us some question about it then we could provide them information about it to encourage them further to adopt in cryptocurrency.

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Quote from: dothebeats on November 28, 2019, 02:19:57 PM

Placing ATMs would not get adoption rates high, but at least it catches the attention of people who will be out and about the said mall. It's a good PR stunt for the mall and the ATM operator knowing that it's a win-win situation for both of the parties. However though, the mall got the most advantage since we don't know whether people will actually use those ATMs for once or not, but the mall would still receive the rent for the stay of these machines.

Either way, any publicity is good publicity!

Yes. The important is with the presence of btc atm machines, people will now be more aware that bitcoin is legit and it should be use as a currency. This is a really good exposure of bitcoin especially that a biggest shopping mall in a country is catering to that. Hopefully this movement will be followed with other countries soon.

Wendigo

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Shopping mall ATMs and their added fees. No thanks for getting fleeced. The worst possible way to gift some Bitcoin for the holidays.

dothebeats

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Placing ATMs would not get adoption rates high, but at least it catches the attention of people who will be out and about the said mall. It's a good PR stunt for the mall and the ATM operator knowing that it's a win-win situation for both of the parties. However though, the mall got the most advantage since we don't know whether people will actually use those ATMs for once or not, but the mall would still receive the rent for the stay of these machines.

Either way, any publicity is good publicity!

kryptqnick

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Quote from: Kprawn on November 27, 2019, 11:45:07 AM

Having the Bitcoin ATMs there is all good and well, but if the people are just buying to spend it at merchants that would convert it to Fiat, then it

would have zero influence on the price. True adoption needs more P2P trades without these ATMs adding high fees for the transactions. Do not get

me wrong, I am not saying it is totally bad for adoption... I am just saying that it is not the ideal method to put bitcoins into people's wallets. Now

the shops in the Mall should just give extra discounts for people paying in bitcoins...then we will see good adoption taking place there. Wink

Well, the effect on the price should not concern us when we are talking about adoption. As for the argument itself, I think that trading is not as good as people trying to actually buy stuff with Bitcoin. And yes, it's sad that they have to sell their BTC for fiat for that. And come to think of it, if many people sell BTC to spend money on Holidays, the price is likely to go down even. Anyway, ATMs at least show some recognition that people might have money in BTC, which is not bad already. But I'd prefer something like PayPass for BTC instead, of course, as this way unnecessary transformations into fiat and fees could be avoided.

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Quote from: mohdk52 on November 28, 2019, 11:23:02 AM

Such ATM should stand in any large mall, all over the country.

It can be only possible where the bitcoin is legal. You cannot expect to have bitcoin ATM in the countries where bitcoin is illegal.
Secondly, once the big malls have such facility, then eventually it will be adopted and we will see these ATM everywhere just like we see the banks ATM all over the world.

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