Does Bitcoin really need an ATM? - page 3.

stompix

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Quote from: linkme on June 15, 2017, 03:05:05 AM

In my oppinion, yes, instead of paying fees for EVERY SINGLE MICRO TRANSACTIONS, you can pay only one-time fee for a Bitcoin ATM so that you can use that cash to pay for real things in real life

Oh wait.
You're idea is to....stop using bitcoin and start using fiat?
Really?
Why are you still here then. Go to lukejrtalk or fiat talk.

Quote from: cryptoheadd on June 15, 2017, 03:59:53 AM

Quote from: Lorilikes on June 14, 2017, 08:37:11 PM

✨I appreciate the fact that you actually read my reply and your responses are clear & thoughtful✨ Now, I have to tell you that on any given day, I will be seen at the bitcoin atm despite my long-winded answer, above. I HATE the fee, but I love the convenience. It is an evolving perspective and soon I hope to offer a mobile solution in Vegas at least, as soon as my kiosks are funded fully !!

Exactly. Bitcoin ATMs also provide instant withdrawals, which are quite convenient. Exchanges, on the other hand, usually take a couple of days (if not more) to process withdrawals.

Looking forward to knowing more about your solution.

Change you exchanger.
I've never used one that takes ore than 24 hours for the cash to enter my account.
I'm going to to name it but one of the major ones is paying even faster than that during weekdays if you work with some banks.

And I'm not going to pay a 15% fee to a damn vending machine.

mudboy93

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ATM's aren't necessary but are for a small group of people, it is not a fundamental part of bitcoin at all, exchanging through exchanges and through ATM's almost have the same interest and cost..
The ATM might be good to people with less regular traders using bitcoins and exchanging them, since they do not need people to exchange with but automatically.

Gaff

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Bitcoin doesn't really need an ATM. The fact that people have been using it for some reasons and they can check or update it in their own way. Good thing is that Bitcoin is getting more popular in some countries yet it's still private. I,myself say that it really helps a lot when it comes to transacting money discretely wherein you don't need to bring atm with but only using your phone is really convenient for your transaction so it doesn't need an ATM.

cryptoheadd

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Quote from: Lorilikes on June 14, 2017, 08:37:11 PM

✨I appreciate the fact that you actually read my reply and your responses are clear & thoughtful✨ Now, I have to tell you that on any given day, I will be seen at the bitcoin atm despite my long-winded answer, above. I HATE the fee, but I love the convenience. It is an evolving perspective and soon I hope to offer a mobile solution in Vegas at least, as soon as my kiosks are funded fully !!

Exactly. Bitcoin ATMs also provide instant withdrawals, which are quite convenient. Exchanges, on the other hand, usually take a couple of days (if not more) to process withdrawals.

Looking forward to knowing more about your solution.

Quote from: arcanayou on June 14, 2017, 09:33:45 PM

In my opinion do not need an ATM, the cost to buy a machine and ATM care is very expensive, who will pay it? Even if it exists only in some special places, it is unlikely that bitcoin ATMs exist in every village, so bitcoin ATMs should not be a top priority

The cost of buying and maintaining the BTM is not a concern for the consumer. It's the responsibility of the Bitcoin company/ATM operator that installs the ATM. (That is what they charge the fee for).

Theb

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Well seeing this post to be way back 2012, I think the circumstances have change. ATMs are not really needed but they can be an option for people who does not have direct access of buying and selling Bitcoin. The downside of using this ATMs are they have a high exchange rate in which you certainly will not have the value for your money in both sides.

bhabygrim

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So Far Bitcoin for me is very useful since i can use it payment as option for my online business .Does Bitcoin really need an ATM? Yes ! changing on price of bitcoin from time to time is one of the uniqueness . Atm machine for bitcoin has disadvantage and advantage .
You can easily withdraw your money once high value . unlike today you have to covert always fee is higher sometimes i don't notice.

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Quote from: arcanayou on June 14, 2017, 09:33:45 PM

In my opinion do not need an ATM, the cost to buy a machine and ATM care is very expensive, who will pay it? Even if it exists only in some special places, it is unlikely that bitcoin ATMs exist in every village, so bitcoin ATMs should not be a top priority

The local bitcoin company will provide it (all the costs for the machine itself and the maintenance) and as an exchange, they'll take a pretty high fee for a transaction as already occurred to all people that they're complaining about how high the transactions fee were using ATMs.
Though, sometimes people are misunderstanding about the function of bitcoin ATM and Bitcoin vending machine, they can't even see the differences before getting explained.

nod

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Quote from: linkme on June 15, 2017, 03:05:05 AM

In my oppinion, yes, instead of paying fees for EVERY SINGLE MICRO TRANSACTIONS, you can pay only one-time fee for a Bitcoin ATM so that you can use that cash to pay for real things in real life

You're right, never do I do such a stupid actions like paying fees for every transaction in my life, using an ATM is much more convenient for me

linkme

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In my oppinion, yes, instead of paying fees for EVERY SINGLE MICRO TRANSACTIONS, you can pay only one-time fee for a Bitcoin ATM so that you can use that cash to pay for real things in real life

Takuul

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it might not have been as critical as it is now in 2012, but in 2016, ATM's are one of the best methods to buy BTC's and would be amazing if accepted to "buy" as well.
Exchanges all require identification "and heavy" documentation, P2P are risky now, with fraud in all methods but direct cash, which is risky in another way.
Personally I see bitcoin ATMs as a successful idea.

arcanayou

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In my opinion do not need an ATM, the cost to buy a machine and ATM care is very expensive, who will pay it? Even if it exists only in some special places, it is unlikely that bitcoin ATMs exist in every village, so bitcoin ATMs should not be a top priority

iqlimasyadiqa

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ATM bitcoin certainly gives us easiness in making transactions. Including withdrawals to local currency in our country.
It can help when we need real money quickly. I think ATM bitcoin is very important to give us fast mobility.

Lorilikes

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Quote from: cryptoheadd on June 14, 2017, 12:50:07 PM

Quote from: Lorilikes on June 14, 2017, 05:35:41 AM

✨I agree!✨ Here are my thoughts .
No, it isn't really a need. It is however a solution to one problem that Bitcoin users face, and that is, trust. Peer to peer transactions are not different than a transaction handled at an ATM except the ATM is holding the wallet of the peer the ATM user is transacting with. The reason the ATM is more trusted than "some guy" is purely because it is a machine, attached to the blockchain, and has all the familiar features we are accustomed to like buttons, receipts, and a toll free phone number to call if an error occurs etc.

I think there is a need for an ATM. This is because they connect Bitcoin to Cash. I agree, trust is something that is an issue for bitcoiners, in a peer-to-peer transaction. But, what about the people who aren't tech-savvy enough to even understand what Bitcoin is?

If they want to buy or sell Bitcoins, they can easily use ATMs to do that in a more conventional way. (Which they are comfortable with.)

Quote from: Lorilikes on June 14, 2017, 05:35:41 AM

The fee that is placed on top of the actual value when purchasing from an ATM is often a painfully out of proportion amount. Also to withdraw cash from the machine will yield a disappointing, below market result. Yesterday at a popular Bitcoin ATM machine the current VALUE of btc was 2848.00 but the ATM charged 3200 per coin to purchase. OUCH! Then if you wanted to get cash, you "sell" your coins to the machine and it was paying $2340 per coin. More ouch!

I agree, the fee is a lot, when transacting on ATMs. This is something that ATM operators need to work on. I think the fee shouldn't be more than 1-2%. (Currently it's around 7-8%)

✨I appreciate the fact that you actually read my reply and your responses are clear & thoughtful✨ Now, I have to tell you that on any given day, I will be seen at the bitcoin atm despite my long-winded answer, above. I HATE the fee, but I love the convenience. It is an evolving perspective and soon I hope to offer a mobile solution in Vegas at least, as soon as my kiosks are funded fully !!

cryptoheadd

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Quote from: Lorilikes on June 14, 2017, 05:35:41 AM

✨I agree!✨ Here are my thoughts .
No, it isn't really a need. It is however a solution to one problem that Bitcoin users face, and that is, trust. Peer to peer transactions are not different than a transaction handled at an ATM except the ATM is holding the wallet of the peer the ATM user is transacting with. The reason the ATM is more trusted than "some guy" is purely because it is a machine, attached to the blockchain, and has all the familiar features we are accustomed to like buttons, receipts, and a toll free phone number to call if an error occurs etc.

I think there is a need for an ATM. This is because they connect Bitcoin to Cash. I agree, trust is something that is an issue for bitcoiners, in a peer-to-peer transaction. But, what about the people who aren't tech-savvy enough to even understand what Bitcoin is?

If they want to buy or sell Bitcoins, they can easily use ATMs to do that in a more conventional way. (Which they are comfortable with.)

Quote from: Lorilikes on June 14, 2017, 05:35:41 AM

The fee that is placed on top of the actual value when purchasing from an ATM is often a painfully out of proportion amount. Also to withdraw cash from the machine will yield a disappointing, below market result. Yesterday at a popular Bitcoin ATM machine the current VALUE of btc was 2848.00 but the ATM charged 3200 per coin to purchase. OUCH! Then if you wanted to get cash, you "sell" your coins to the machine and it was paying $2340 per coin. More ouch!

I agree, the fee is a lot, when transacting on ATMs. This is something that ATM operators need to work on. I think the fee shouldn't be more than 1-2%. (Currently it's around 7-8%)

RajaJudi

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Quote from: dree12 on July 22, 2012, 04:25:30 PM

Quote from: hazek on July 22, 2012, 04:19:05 PM

Does email need paper?

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.

I agree with you. Every time, I have to go to the local exchange but it is very far from my house. So if there were ATMs on the street, I would easily go there and take the money conveniently Grin

Lorilikes

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✨✨Such a great question! ✨✨ ;
I like what this guy said :

Quote from: bit-tard on June 13, 2017, 10:45:00 AM

Currently ATM's have a very big market, the idea of buying coins through peer to peer exchanges are less tempting mainly due to the gigantic amount of fraud linked to it, and the risk of getting a fraudulent payment and suffering from it.
But on ATM's the transactions are easier and better to use overall and don't require ID's and verification like exchanges and much quicker.

✨I agree!✨ Here are my thoughts .
No, it isn't really a need. It is however a solution to one problem that Bitcoin users face, and that is, trust. Peer to peer transactions are not different than a transaction handled at an ATM except the ATM is holding the wallet of the peer the ATM user is transacting with. The reason the ATM is more trusted than "some guy" is purely because it is a machine, attached to the blockchain, and has all the familiar features we are accustomed to like buttons, receipts, and a toll free phone number to call if an error occurs etc.

The fee that is placed on top of the actual value when purchasing from an ATM is often a painfully out of proportion amount. Also to withdraw cash from the machine will yield a disappointing, below market result. Yesterday at a popular Bitcoin ATM machine the current VALUE of btc was 2848.00 but the ATM charged 3200 per coin to purchase. OUCH! Then if you wanted to get cash, you "sell" your coins to the machine and it was paying $2340 per coin. More ouch!

Even with enormous and almost predatory fee gouges don't slow the stream of people who use it. They are consistently busy at that ATM every day. People feel they can trust the familiar box the buttons the receipts ... but people suspect something sneaky out of other people.

Strange humans. Lol. We don't NEED ATM machines because our wallets will add any trade to the blockchain, as it happens and way cheaper and remember, some guy owns the machine. Not an insured bank. Just a guy or girl with or her coins to sell or buy. That's a fancy wallet.
*My lifetime career plan includes a peer to peer solution to this ATM problem, more about that in another month. **

Inkdatar

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Actually for me, bitcoin needs to have an ATM. This would be nice if their is an ATM will release all nationwide, this is the way to promote bitcoin to those that cannot understand it. This helps to ease of use bitcoin that may use in any store. This helps of bitcoin to spread awareness and to large its community.

NeuroticFish

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Quote from: Netnox on June 14, 2017, 01:36:24 AM

Quote from: NeuroticFish on June 13, 2017, 04:24:02 AM

Don't forget that many banks don't really "like" their customers use Bitcoin. The reasons are many - it's the competition, it's somewhat more private than the use of banks (AML?).
Also many people prefer to buy Bitcoin without telling the bank they do that (whether they do that for shady reasons or not).
All in all, BTMs are useful, they show the Bitcoin name in more places around the world and make it more accessible.
Yes, the fees are higher, but for good reason. We need more of them, surely.

This is a major issue. I have seen many threads here, dealing with incidents where the banks closed down bank accounts without any warning, due to the association with Bitcoin trade. In some extreme cases, the funds were frozen, and the freeze was removed after more than a year. I am not sure whether they are doing this due to competition. One reason may be the unclear legal status of Bitcoin.

There are a couple of reasons I could think of:
1. lack of legislation
2. fear of competition
3. insufficient knowledge/understanding on this technology and a "I don't care about it" (also because of [2])
4. insufficient means to find out if the funds are legit and pulling out AML reasons (caused by [1], [3] and [2] too)
5. scam attempts between BTC buyers and sellers (localbitcoin and so no) - from buyer using problematic funds, from buyers trying to "charge back", from sellers that did double spends.. (I don't know all this for sure, but I expect that such stories may have happened too).
6. fear (in the banking business) that stolen CC may be used to buy BTC (maybe this also has happened already, leading to [5]).

Yeah, we do need more well implemented BTMs...

Beparanf

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Quote from: n0ne on June 14, 2017, 01:46:13 AM

An ATM will help in the promotion as well in gaining popularity of the currency, because right now people who love technology too is not aware of bitcoin. So when an ATM is implemented sure it gains the attention and at least a little of them will start exploring more and learn to be a part of bitcoin. Considering the other side bitcoin ATM's levy big transaction fees than the exchange websites.

It does not require since we can use regular banks but need to convert our btc prior in time. But having atm can be a big help there will be no hassle on it.

n0ne

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An ATM will help in the promotion as well in gaining popularity of the currency, because right now people who love technology too is not aware of bitcoin. So when an ATM is implemented sure it gains the attention and at least a little of them will start exploring more and learn to be a part of bitcoin. Considering the other side bitcoin ATM's levy big transaction fees than the exchange websites.

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