Topic: Does Bitcoin really need an ATM? (Read 6255 times)

In whole thread i found your point is valid . Who will take care about ATM machine expenses ??. Here is my suggestion there is lots of exchange wallet in each country they can maintain machine if they are having proper plan and then they can charge small amount for transaction.

Yes, I need it very Badly. I can't make it cash. If Bitcoin provides ATM service it will be very helpful for me and others like me.

Yes bitcoin ATM we must need in every country it is easy to withdraw and no risk. I heard that in some countries it is available, but in my country still, it not came. Once it comes, I will stop other wallets to withdraw my money. I use the only debit card to withdraw my money the charge is bit high, but still it's ok it is instant cash we don't need to wait for any confirmation and the exchanges will send money only in bank hours we can cut this time and get money instantly.

bitcoin atms require a lot of attention to keep running. You need to make sure it has enough cash for people selling and enough bitcoin for people buying. You need to physically visit the machine every now and then to make sure it's still working properly before you can withdraw cash. Frankly it is easier withdrawing with with the trusted debit cards like Bitpay, If I use an Atm, it will be for buying coins.

In Nort America, people are facing difficulties on bitcoin to fiat currency transactions. It's saying Nort America has the plenty of bitcoin atms but it's not enough for user's need.

I've seen in many posts that you are interested in something like a Bitcoin ATM, and there has even been someone who has built a Bitcoin ATM somewhere in the USA.

I believe that reprogramming an existing vending machine (specially condoms or parking meters for their size), or even taking an old motherboard or android phone, and attach a coin acceptor and a thermal printer is not exactly something revolutionary (technically speaking). But it hasn't been done yet (well, it has, but a big and mostly proof-of-concept project, diametrically different from the low cost, widely deployed EUR/USD/GBP2BTC machine everyone want).

So, my question is why. And thinking about the question I found that Bitcoin is not what people need. It will, when it  succeedes (I'm optimistic about Bitcoin) be an extraordinary medium of storing wealth, something like gold today, with the additional advantages that everybody in this forum knows. But I don't think that people need to change their salary to Bitcoin (price fluctuations aside), exactly, again, as they don't need to buy gold with their salary. It's just not worth it. Bitcoin is not useful for buying bread. You can argue, of course, that if the baker accepted Bitcoin, people could use them to buy bread. But why would the baker accept Bitcoin, if he must pay his taxes in euros? It just adds more headache to his accountant.

Another reason I think that people will not rush into the ATM to buy BTC is the responsibility. Who would want to be considered the only responsible of protecting its own wealth? If you are stolen/threatened/forgetful that's it, game over. With a bank, despite all the inconveniences, hidden fees etc, if your credit card is stolen, you can chargeback. And the Bitcoin community does not support the idea of trusting a Bitcoin bank (which, given the past experience, I understand).

So, when I enthusiastically tell my friends about the wonders about Bitcoin, they ask me, skeptically, "how can I use them?" And in the answer I realize that they don't really need them, as well as they don't need gold coins.
People don't mind paying 2 euros more in an item of 60 euros because of the fees of Paypal, if they know that they can recover their money if something goes bad. Bitcoin has primitive escrow services, but are they below the Paypal fees? If yes, for how long, when the Bitcoin economy expands?

In conclusion, when I was looking for a catch phrase to write in the ATM describing why everybody needs Bitcoin, I realized that Bitcoins are useful for wealthy individuals and from a macroeconomic point of view, but not for the people that would casually buy them in an ATM.
 
I hope with this post to get contrary opinions about this fact, since I want to be convinced that a Bitcoin ATM would be useful, since I find the project of building one really, really cool :-)

in this respect we do not need for any ATM, but if we can use the ATM for depositing our fiat in to  Bitcoin or Bitcoin in to Fiat then we really need ATM and it will be really too much convenience to use it.

First of all i'm suprised that this is an old thread created by op in 2012, when bitcoin was very young so op asked those who never used bitcoin ATM before about, does bitcoin really need an ATM? Well from my experience, we have 2 bitcoin ATMs here btw i don't think that we really need bitcoin ATM since you can buy bitcoin easily with your smartphone in a single click from your bedroom without going outside and with the cheaper price than bitcoin ATM charges. However this is gonna be an advertisment for the bitcoin itself, but as i can see no one cares i mean the common people ( our ATM is located in the mall ) i don't know maybe they are just too lazy to convert their fiat to the bitcoin or didn't know about bitcoin and what can they do with it, hoping this only happened here.

Yes.

Bitcoin is less reliant on ATMs than classic money, but like email and paper, there are many people who need it. If there is a market, it will be done.

A lot of people need cash for various reasons. If they can get cash for bitcoin easily they'll hold more coin and be more likely to be willing to work or sell for it.

Exactly. Bitcoin ATMs are only needed for convenience of the users, so that they can convert Bitcoins to Cash whenever they want, instantly.

It gives convenience alright but when you look at it the exchange rate or their conversion rate is to unfavorable for you, which means you would get less then what your money is really worth. That is why you need to pick up a good wallet service provider in which they are the ones buying your Bitcoin through your wallet. With that being said I would prefer the wallet exchange rather than the ATM exchange.

ATM is a big thing when wanting to buy bitcoin, most of them the fee is %5 which is much cheaper than doing a deal on localbitcoins methods. The only thing hindering them less useful is how scarce they are available only in very few limited countries.. it will also be better if you can sell bitcoins for cash too.