First Bitcoin ATM (BTM) comes to Greece amidst the recession! - page 2.

yayayo

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Quote from: DarkHyudrA on June 24, 2015, 11:18:42 AM

Quote from: unamis76 on June 24, 2015, 11:04:16 AM

Quote from: irfan_pak10 on June 24, 2015, 10:52:32 AM

And whats New In this machine? Is it cashout BTC, Or fiat money? We have to use ordinary card like bit-x card on these machine?

Cashout to BTC only, as it says on the website linked in the OP...

These kinds of machines accept credit and debit cards too?

Seens so, there's a slot for it.
But it would be interesting to not only buy BTC, but to cashout aswell.

Why cashout to fiat when you have Bitcoin? Two-way ATMs are only needed for those who buy Bitcoin for speculative purposes without realizing that Bitcoin is superior money. Buy Bitcoin and pay for goods and services with Bitcoin. Let fiat hyperinflate and die.

ya.ya.yo!

DarkHyudrA

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English <-> Portuguese translations

Quote from: bSpend on June 25, 2015, 08:16:50 AM

do you guys who post even read the previous posts? :/

They prefer to FUD and to post all around so they get paid for their signature campaigns.
I do have one, but I try to not post useless things like those 5 posts above yours.

maheshmahi

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Heard that bitcoin is just a digital currency.. But now a b machine means that btc is now can be taken as cash.

bSpend

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Life

do you guys who post even read the previous posts? :/

manselr

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Quote from: Daniel91 on June 25, 2015, 04:02:19 AM

Quote from: Amph on June 25, 2015, 01:57:04 AM

Quote from: Jammalan the Prophet on June 24, 2015, 02:38:44 PM

Buy rate: EUR 247.40 Huh

where you see it? are they trying to cover they debt with this ploy?

Quote from: bSpend on June 25, 2015, 01:44:31 AM

As in most EU countries it's not defined by law..yet..

it does not mean that you can't declare anything, especially if your income is very high

247.40 Euro?
This is very strange and unfair rate, something is wrong with that.
Are you sure this is correct?
We just recently got first Bitcoin ATM in Croatia and we don't have such ridiculous rate.
Regarding law, in my country we can't report to IRS any income in BTC directly, it must be in national currency.
Any way, this is still gray and undefined zone.

They are doing the classic "let's charge these European idiots the same number we charge to the Americans, except we switch the dollar sign for the euro sign" move. Maybe they'll be able to pay the debt with that.
And as others have pointed out, im pretty sure this requires credentials which would attach that withdraw/deposit to your real name forever.

amiryaqot

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Quote from: bSpend on June 25, 2015, 04:12:26 AM

We installed the Croatian ATM as well

the rate is not correct, it was maybe at that time while the machine was in test mode. the fee is 5% so anyone can go now and report the current rate

that is nice to see you are providing the great support there as this ATM is in test mode so we can understand that kind of minor problem is normal in the start, good to see now that problem has been resolved and the rate is get corrected to €216.

hua_hui

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Quote from: Daniel91 on June 25, 2015, 04:02:19 AM

Quote from: Amph on June 25, 2015, 01:57:04 AM

Quote from: Jammalan the Prophet on June 24, 2015, 02:38:44 PM

Buy rate: EUR 247.40 Huh

where you see it? are they trying to cover they debt with this ploy?

Quote from: bSpend on June 25, 2015, 01:44:31 AM

As in most EU countries it's not defined by law..yet..

it does not mean that you can't declare anything, especially if your income is very high

247.40 Euro?
This is very strange and unfair rate, something is wrong with that.
Are you sure this is correct?
We just recently got first Bitcoin ATM in Croatia and we don't have such ridiculous rate.
Regarding law, in my country we can't report to IRS any income in BTC directly, it must be in national currency.
Any way, this is still gray and undefined zone.

The operators can charge any percentage of fees to cover his costs. The fees is insanely high. I don't think any one will really use this machines, probably come here, have a look and try out a small amout of money. They can go exchange for the fair fee.

Q7

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People should realize that if they have limitation to take out their money, this is definitely one of the solutions because nobody can control where bitcoin goes. If that is not enough to convince people to see the benefit of bitcoin, I don't know what else further we can do. It's interesting to see how this will develop and change over time.

LFC_Bitcoin

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#1 VIP Crypto Casino

Hmmmm good news that they're getting a BTC ATM I guess but I wonder how much it will get used, I'd be willing to guess the answer is not a lot.
Has anybody got any stats on BTC use in Greece? It'd be interesting to see. I HODL & buy on exchanges so I've never used a BTC ATM. I found an interesting stat the other day though, if anybody wants to have a look CoinDesk have a worldwide BTC ATM map -

http://www.coindesk.com/bitcoin-atm-map/

bSpend

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We installed the Croatian ATM as well

the rate is not correct, it was maybe at that time while the machine was in test mode. the fee is 5% so anyone can go now and report the current rate

Daniel91

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Quote from: Amph on June 25, 2015, 01:57:04 AM

Quote from: Jammalan the Prophet on June 24, 2015, 02:38:44 PM

Buy rate: EUR 247.40 Huh

where you see it? are they trying to cover they debt with this ploy?

Quote from: bSpend on June 25, 2015, 01:44:31 AM

As in most EU countries it's not defined by law..yet..

it does not mean that you can't declare anything, especially if your income is very high

247.40 Euro?
This is very strange and unfair rate, something is wrong with that.
Are you sure this is correct?
We just recently got first Bitcoin ATM in Croatia and we don't have such ridiculous rate.
Regarding law, in my country we can't report to IRS any income in BTC directly, it must be in national currency.
Any way, this is still gray and undefined zone.

Amph

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Quote from: Jammalan the Prophet on June 24, 2015, 02:38:44 PM

Buy rate: EUR 247.40 Huh

where you see it? are they trying to cover they debt with this ploy?

Quote from: bSpend on June 25, 2015, 01:44:31 AM

As in most EU countries it's not defined by law..yet..

it does not mean that you can't declare anything, especially if your income is very high

bSpend

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As in most EU countries it's not defined by law..yet..

brekyrself

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What is the legal status of running a Bitcoin ATM in Greece? Have to report transaction etc...?

bSpend

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sorry, some test settings remained..fixed. is it ok now?

Jammalan the Prophet

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Buy rate: EUR 247.40 Huh

Argwai96

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Thug for life!

If the owner of the atm wants only cash then cash to btc will be, i know i wouldn't take credit cards, they could easily visit an atm withdraw cash and buy bitcoin from the btm.

bSpend

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it depends on the model and how it's setup..this machine how it is setup asks for none of that, u insert the cash and get ur BTC

BillyBobZorton

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Quote from: Amph on June 24, 2015, 11:53:36 AM

Quote from: chek2fire on June 24, 2015, 10:54:28 AM

I think is cash out only btc. Here is and another pic

to me it seems like a gimmick unecessarely thing, you can just go ahead and use any exchange to have bitcoin then load those in your wallet and proceed to buy what you want at any shop accepting it

but if those machine offer a sort of privacy on your transaction(your name does not appear there, like in the exchange ecc..)

then i could see a point in using it

I don't remember where but I remember seeing someone using an ATM (not that model tho, I think it was the Robocoin one) and it was a mess, you needed ID, a hand scan, and they even had a webcam on there.. what a joke.
Im pretty sure this is not anonymous, which would mean, the government could try to scan the ATM's and see the BTC transactions linked to your name (I assume this machine will need your ID at least) and tell you to get your BTC back to euro or get some sort of sanction... so whats the point?

Lethn

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Since your into Bitcoin you must already be aware of this but I wanted to double check anyway since you guys in Greece are really in for a shitstorm. You are aware of the risks involved with trading for paper currencies like this right? For instance if a ton of people did a run on the banks and all swarmed to your ATM to buy Bitcoins, you would be left with nothing but worthless paper.

It may end up being profitable for now, but eventually things will get so expensive in paper currency that you'll practically have been robbed of your coins and you'll have lost one of your only ways to guard against inflation. The reason I'm saying this is not to be negative but because I am absolutely expecting a pretty bad crash this year and Greece will be one of the main catalysts.

Topic: First Bitcoin ATM (BTM) comes to Greece amidst the recession! - page 2. (Read 2583 times)