Bitcoin ATMs should target developing and third world countries - page 4.

Iamannie

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Quote from: Oasisman on February 18, 2019, 05:22:57 PM

Quote from: ecnalubma on February 18, 2019, 01:08:33 PM

Quote from: blockmanity on January 19, 2019, 05:32:08 AM

Lot's of Bitcoin ATMs keep popping in the developed countries such as US, Canada, Japan, Hong Kong etc. But I have been thinking why don't the owner's target countries without much economic stability? Like Venezuela (btw they just got their first Bitcoin ATM). That would increase the adoption. Something like backpropagation. What do you think?

It could be an ideal but not all countries may allow it, it depends on how their government treat crypto because before you operate that kind of business you should pass tons of qualifications and filter to get approved. Some are conservative that are contented with the current financial system which are hard to please.

Of course the government should be the first to check whether there is restrictions for cryptocurrency or not. Now, the hardest part is the adaption of people in a certain country especially the third world countries. Companies who build Bitcoin ATMs might have a survey on their targeted location for the next machine deployment, and I guess it will be the mass adaption is the first thing to be tackled.

They could start in Central Business Districts, wait for users to come in before spreading out in the outskirts.

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Quote from: ecnalubma on February 18, 2019, 01:08:33 PM

Quote from: blockmanity on January 19, 2019, 05:32:08 AM

Lot's of Bitcoin ATMs keep popping in the developed countries such as US, Canada, Japan, Hong Kong etc. But I have been thinking why don't the owner's target countries without much economic stability? Like Venezuela (btw they just got their first Bitcoin ATM). That would increase the adoption. Something like backpropagation. What do you think?

It could be an ideal but not all countries may allow it, it depends on how their government treat crypto because before you operate that kind of business you should pass tons of qualifications and filter to get approved. Some are conservative that are contented with the current financial system which are hard to please.

Of course the government should be the first to check whether there is restrictions for cryptocurrency or not. Now, the hardest part is the adaption of people in a certain country especially the third world countries. Companies who build Bitcoin ATMs might have a survey on their targeted location for the next machine deployment, and I guess it will be the mass adaption is the first thing to be tackled.

Ultimist

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In order for bitcoin ATMS to appear in some country, it is necessary to determine what percentage of people use cryptocurrency. In the third world, the technology is not very developed and the establishment of bitcoin ATMS will be impractical.

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Quote from: blockmanity on January 19, 2019, 05:32:08 AM

Lot's of Bitcoin ATMs keep popping in the developed countries such as US, Canada, Japan, Hong Kong etc. But I have been thinking why don't the owner's target countries without much economic stability? Like Venezuela (btw they just got their first Bitcoin ATM). That would increase the adoption. Something like backpropagation. What do you think?

The presence of bitcoin ATMs in various countries of course will really be helpful, and this will facilitate transactions which are related to bitcoin both as a medium of payment, transfer and others. Besides that, the growth of people who adopt bitcoin will usually occur, especially in the surrounding environment where the ATM's located. However before they place the bitcoin ATM, they should think wisely, especially regarding laws or restrictions that apply in the local country, the location where the bitcoin ATM will be placed. This's done solely to provide security for both the user and the owner of the ATM so that unwanted things don't happen, as 100bitcoin said.

Quote from: 100bitcoin on January 19, 2019, 05:34:21 AM

Someone tried and got arrested in India - https://qz.com/india/1435092/unocoins-bitcoin-atm-seized-by-indian-police/

Because until now most of the government still insisted on maintaining their ego to ban bitcoin and other cryptos.

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Right now it is very difficult to make countries accept the usage of bitcoin atm. Very few people have known about bitcoin, while majority still doesn't use cards. In this regard it is impossible to make everyone use cryptocurrency atm. Third world country have lot many issues to face, upon which this will a very minor thing which won't get importance that easy. When this becomes popular on first world countries automatically it'll reach the third world countries with ease.

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Quote from: blockmanity on January 19, 2019, 05:32:08 AM

Lot's of Bitcoin ATMs keep popping in the developed countries such as US, Canada, Japan, Hong Kong etc. But I have been thinking why don't the owner's target countries without much economic stability? Like Venezuela (btw they just got their first Bitcoin ATM). That would increase the adoption. Something like backpropagation. What do you think?

It could be an ideal but not all countries may allow it, it depends on how their government treat crypto because before you operate that kind of business you should pass tons of qualifications and filter to get approved. Some are conservative that are contented with the current financial system which are hard to please.

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Quote from: blockmanity on January 19, 2019, 05:32:08 AM

Lot's of Bitcoin ATMs keep popping in the developed countries such as US, Canada, Japan, Hong Kong etc. But I have been thinking why don't the owner's target countries without much economic stability? Like Venezuela . That would increase the adoption. Something like backpropagation. What do you think?

The main reason is that every bitcoin ATM has a lot of charges they levy to the users and if they are planning to install in a developing country which is basically poor population, it wont be a success like they are successful in developed countries and more over these developing countries does not have a regulation relating to bitcoin as someone mentioned earlier, an exchange in India installed an ATM and they got arrested for it, so if there is no legal status you might end up in trouble too.

Daniel91

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I think that Bitcoin ATMs should specially target tourist countries and places around the world.
Tourists don't like exchange offices because of high exchange fees so Bitcoin ATMs can be very convenient for them.
For example, many tourists visiting my city and they are happy when they hear abut 2 Bitcoin ATMs we already have in our city.

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Quote from: blockmanity on January 19, 2019, 05:32:08 AM

Lot's of Bitcoin ATMs keep popping in the developed countries such as US, Canada, Japan, Hong Kong etc. But I have been thinking why don't the owner's target countries without much economic stability? Like Venezuela (btw they just got their first Bitcoin ATM). That would increase the adoption. Something like backpropagation. What do you think?

There are now many bitcoin ATM's that keep popping up in my country. Actually even the popular bank in the Philippines is now launching a bitcoin atm. The demand of the people to bitcoin is now increasing and that's why bitcoin atm is continuing to pop up.

The implementation of Bitcoin ATM in your countries with many users will certainly have a positive impact on the existence of this ATM. Of course it's good to develop or promote the Bitcoin currency in that country.

- Well, the appearance of ATM bitcoin is really a good tool to advertise bitcoin and make it more friendly and accepted by people in that country, and the characters who will be the most profitable are the government, they provide and support bitcoin to become popular, what they get will be taxes from bitcoin holders. And we will share part of our benefits with the government and there is no guarantee from them, we will even face new opponents in many crypto fields, the appearance of bitcoin ATM is a disadvantage for the pioneers, so I don't hope that ATM bitcoin will appear in my country

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Quote from: martina14 on February 15, 2019, 01:58:22 PM

All i want to say is there are no more 3rd world country for many years now.
We are divided as DEVELOPED and DEVELOPING country. ever country will have their ATM in such time!

And which of those two is Venezuela?
You should really add a new category, going the wrong way, and even that doesn't show the full picture, or if we speak about Chad, maybe better would be "stagnating" cause it's developing for the last 30 years....into the same.
But again, maybe the term 3rd world country might be inappropriate, how about 4th world countries?

Quote from: BTMBitcoinVN on February 14, 2019, 10:33:21 PM

I think you underestimate the level of competence you'll find among the youth in these countries.
The use of BTMs here can have quite a significance, considering these individuals have high technological understanding.
Sure it won't have the same impact as in north america, but i'm sure there's a market for BTMs.

I think you're overestimating it by a factor of a few thousand.
If we had anything like that we would see a change in those countries but for years and years nothing happens and the ones with a bit of "competence" decide to run wherever their eyes see rather than fighting for a failed cause.

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In third world countries people haven't got adopted to the usage of bitcoin atm. Though Japan is a cryptocurrency adopted nation, what we find is very small number of bitcoin ATMs. Recently the very first ATM got implemented in India which has got a large number of cryptocurrency users, but in the day of opening it was taken away by the government. In this regard it needs time for for people to know and begin using bitcoin ATMs.

martina14

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Bitcoin ATM will reach the whole world like what ATM for fiat happened before.
All i want to say is there are no more 3rd world country for many years now.
We are divided as DEVELOPED and DEVELOPING country. ever country will have their ATM in such time!

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Quote from: kingpin4321 on February 14, 2019, 07:24:33 AM

Bitcoin automatic teller machine is quite an advance technology and it's being developed on.
For now I don't think developing countries are ready to adopt that technology

Actually not really, in my opinion the typical Diebold type ATM, a model with camera, would do just fine (they are just PCs). They are expensive because of the vault that needs to be rugged, and the mechanism that push/pulls/sorts banknotes. But i wouldn't dare recommend putting one in the street, especially in third world countries with rampant crime...

I guess some people are building them from scratch, which is probably cheaper than getting a typical bank ATM. Perhaps something raspberry pi like...

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Quote from: blockmanity on January 19, 2019, 05:32:08 AM

But I have been thinking why don't the owner's target countries without much economic stability? Like Venezuela

Have you seen how the Nicolas Maduro government is a dictator government? who is the brave one who dares to go to venezuela and set up an ATM bitcoin? In many African countries they are in the same position as venezuela, it only has the difference that these corrupt African leaders are smarter than Maduro, they pretend that there is democracy for the international community to see, but the laws they approve is only to benefit their corruption. So things like bitcoin and ATM bitcoin will be seen as an enemy in these corrupt African countries

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Quote from: 100bitcoin on January 19, 2019, 05:34:21 AM

Someone tried and got arrested in India - https://qz.com/india/1435092/unocoins-bitcoin-atm-seized-by-indian-police/

I don't know why that sad new on India happened but I think the ATM machine is against or violating some rules and regulations in India and maybe it is the cause of terminating that service and arresting the owner of it.

Quote from: Lucius on January 19, 2019, 06:31:31 AM

blockmanity, I think the reason why this is not happening lies in the fact that in most economically underdeveloped countries there is simply no legal basis to start ATM business. If something is not legally regulated every attempt to work in this sector will end in failure, loss of investment and possible even with a prison sentence.

That is correct the legality issue is one of the reasons why the underdeveloped countries do not have this kind of ATM machines for Bitcoin and other forms of Crypto Currencies.

Quote from: Lucius on January 19, 2019, 06:31:31 AM

It is true that most of crypto ATMs are located in USA&Canada (3200+), and Austria is in third place by number of ATMs (264). But Japan have only 10 of them, although they are crypto friendly country.

I think things will start to change slowly in favor of some other countries, but it depends how fast or slow their governments will work on regulations and laws regarding cryptocurrency.

The government's rules and regulation and jurisdiction is the key in here if they are open-minded about the technology of blockchain and Crypto Currencies they might create rules and regulations about it in a rush but some of the governments in the world do not like this kind of technology and these governments look at it as a threat to their economy and citizens.

A few weeks ago one of the top banks in our country released a Crypto ATM machine and it is the first in our country and they are planning to create more of it in the future.

johnny508

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First Bitcoin ATM machines should target developed countries because if bitcoin to do some change in the future it need to gather more users and cash flow into its market to increase demand and adoption and that can be effectively and easily done through developed countries because they already have basic foundations like IT knowledge, understanding of online transactions, Internet facility and many other facilities for bitcoin ATM machine network to grow smoothly and once the network gets stable targeting developing countries would be effective and possible because then the resources and the necessary acceptability by people will be already there to implement Bitcoin ATM's in those regions

plvbob0070

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Quote from: blockmanity on January 19, 2019, 05:32:08 AM

Lot's of Bitcoin ATMs keep popping in the developed countries such as US, Canada, Japan, Hong Kong etc. But I have been thinking why don't the owner's target countries without much economic stability? Like Venezuela (btw they just got their first Bitcoin ATM). That would increase the adoption. Something like backpropagation. What do you think?

I get the point that it's good for adoption but I think the reason why they tend to put up bitcoin ATMs on developed country is that, it's already developed. They're ahead when it comes to technology compared to third world countries. So it's much easier for them. Putting up bitcoin ATMs cost a lot so it's hard for third world countries to invest such things, not knowing if it'll be worth it and if they can gain profit from it.

Baofeng

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Another third world country having their crypto ATM.

https://news.bitcoin.com/union-bank-philippines-cryptocurrency-atm/

What makes this impressive is that it came from one of the largest banks in the Philippines. I created a discussions here: https://bitcointalksearch.org/topic/union-bank-of-the-philippines-launching-cryptocurrency-atm-5108095

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Quote from: BTMBitcoinVN on February 14, 2019, 10:33:21 PM

Quote from: SIDDHI777 on February 14, 2019, 09:55:26 AM

According to my understanding targeting developing and third world countries to place bitcoin ATM machines will not do anything effective because Bitcoin is another level of digital advancement which required at least basic level of technological improvement to understand, use and do transactions by using the network which are not common among many citizens who are in both developing or third world countries so nothing effective can be expect if ATM machines are placed in such areas

I think you underestimate the level of competence you'll find among the youth in these countries.
The use of BTMs here can have quite a significance, considering these individuals have high technological understanding.
Because of the state of their country, high tech payment solutions aren't available. These individuals will have a higher income and all you need for paying in crypto is a internet connection.

Sure it won't have the same impact as in north america, but i'm sure there's a market for BTMs.

Thats not good to hear buddy . under estimating other country is bad . so what if they are from the 3rd world country . not all people on that country are slow . with the growth of smartphones and internet , im sure anyone can catch up and learn techy stuffs . thats why i think its also possible for them to learn cryptos and use btc atm's in the future .

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Quote from: Indrawan77 on February 14, 2019, 06:35:40 PM

The problem now is the adoption and the governments permit is not clear yet, I agree that bitcoin will grow better in third world countries because crypto can give a new job opportunities, but in third world countries not all people understand and got the facility to used crypto, and for Atm it won't be too popular in third world countries since it charge a high fee, it will be more appropriate to put atm in wealthy countries

An introduction for the BTMs will be possible though. Just not at the same capacity as in developed countries.
If we want crypto to make an impact, making the tech world-wide is crucial. Even for the underdeveloped countries, where crypto could really make a difference in peoples life, in case of insane inflation, political disturbances and natural disasters. (assuming internet connection will survive ofc)

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