I still think it is useless. I mean after all the political problems of the history haven't we learned anything ? Have not learned anything from holocaust, the pol pot regime, the Russian soviet rebellion ?
People do not have problems because of economical reasons that are cash related. You can give someone hundreds of dollars, hell you can give all of Venezuela hundreds of dollars in cash, it won't solve the problem. They lack food and they are starving, they need food, a bitcoin ATM will not change anything on that front. You can't buy food with bitcoin ATM after all.
You can hide your money in bitcoin to make sure your money is not affected by the losing of value in their currency but that is already too late and stuff are getting more and more expensive not because their money loses value but because everything is scarce and its hard to find something there which makes people that own stuff a lot more richer by just selling to the highest bidder.
Topic: First Bitcoin ATM in Venezuela - page 5. (Read 1010 times)
https://blockmanity.com/news/bitcoin/venezuela-to-get-its-first-bitcoin-atm/
It should be installed in Caracas in the next two weeks.
This is actually a good news and I believe their will be an expansion as the demand is seen. It should be installed in Caracas in the next two weeks.
Quote
CryptoBuyer, a cryptocurrency ATM manufacturer, is planning to install the countries first Bitcoin ATM. The news was announced by the company’s CEO Jorge Farias on a Union Radio podcast. The ATM will be installed in Caracas and will be opened in the next two weeks.
“We are going to install the first cryptocurrency ATM in Venezuela, in the course of the next two weeks (…), we already have the equipment physically installed in Venezuela, in Caracas and they are in their final tests and we will be announcing them in social networks “, Jorge Farias said.
“We are going to install the first cryptocurrency ATM in Venezuela, in the course of the next two weeks (…), we already have the equipment physically installed in Venezuela, in Caracas and they are in their final tests and we will be announcing them in social networks “, Jorge Farias said.
ATM is very important as venezuela is a crypto country already since people have shifted crypto to combat the hyper inflation.
Good job, hopefully more and more country will adopt with crypto and ATM is just a simple proof of adoption.
From what I've seen in the news, when there is a crowd in front of a supermarket usually it takes a few seconds and the rumor that they have stocked with enough to make one portion of kasha to enter a mad max scenario...
Have stocked what, the ATM? There is nothing stored within the ATM related to Bitcoin. It fetches all the data from an external server, so you don't gain anything by trying to break/steal the ATM in the hope to get the Bitcoins inside.Slight misunderstanding.
The atm is safe, nobody is going to try and steal bolivars when paper is more expensive.
I was saying that a store is not a safe place to be (for you as an individual) when it is restoking and word spreads out that this time they also have food for sale.
It might be old but I doubt things have improved:
Quote
https://www.youtube.com/watch?v=2XsxD1Y7knI
Security forces in Venezuela have arrested at least 400 people ......
Security forces in Venezuela have arrested at least 400 people ......
Are you sure you would want to go near a store like that during those times?
Venezuela is one country where BTC use could really be pushed. It's a country where people really are in need of an alternative to fiat. I don't think that Maduro will allow it though, he'll push Petro if he has to to replace Bolivars.
Madro in theory is now less negative on all types of crypto as it allows them for an alternative source now sanctions via dollar is a real problem for them. Why they cant just use the soviet Russian rouble as a proxy in their economy I dont quite understand but the fact Russia is also under sanctions is probably a large part of it.
1 single ATM 9 years after it was required to stem inflation, is far too little too late and sadly cant turn around the titanic failure that is this OPEC nations lament
Seems you've never been in a country with attitude and problems like Venezuela.
Yes, the ATM is on crowded place but if you think that could save you from robbery or beating the sh*t out of you and rob you, you are in big mistake. Still its good to have more support for bitcoin and every other alternative.
Have you been in Venezuela? Yes, the ATM is on crowded place but if you think that could save you from robbery or beating the sh*t out of you and rob you, you are in big mistake. Still its good to have more support for bitcoin and every other alternative.
I'm not saying it saves you from ill minded individuals out to steal your coins, well placed ATM's however reduce the frequency at which it is possible to pull off something like that. You are making it look like there is a huge danger, which is greatly exaggerated, regardless of what country these ATM's are located.
From what I've seen in the news, when there is a crowd in front of a supermarket usually it takes a few seconds and the rumor that they have stocked with enough to make one portion of kasha to enter a mad max scenario...
Have stocked what, the ATM? There is nothing stored within the ATM related to Bitcoin. It fetches all the data from an external server, so you don't gain anything by trying to break/steal the ATM in the hope to get the Bitcoins inside. 
In Venezuela ? Isn't now a super bad time for its citizens ?
That sort of what I was thinking. From what I've read, a lot of Venezuelans are starving because of the crazy hyperinflation situation, and yeah a lot of them are just getting out of the country because of it. Unless the citizens are actually using bitcoin in lieu of their own currency, I'm not sure how much of a success a BTC ATM is going to be. Sure, it's a mark of progress as far as bitcoin goes but I'm a bit skeptical about its actual usefulness.After a year, if no-one will still initiate this kind of project, I think it is me who will change the game.
Say what?Venezuela is one country where BTC use could really be pushed. It's a country where people really are in need of an alternative to fiat.
I've tried to figure out what it is that the citizens are using for currency if they can't use their own fiat, but I haven't been able to find out exactly. The US dollar seems like it would be a viable alternative, and I know that some other S. American countries have sort of adopted it as their own. For some reason, those crappy Sacajawea or presidential dollar coins are popular in some of them. And then I've read that Dash has started to make some headway in Venezuela, but it isn't clear to me the extent to which Venezuelans are actually using crypto. If anyone has any hard data, I'd love to see it. 
I bet that the queue to use these bitcoin ATM machines is going to be longer than the queue on the bridge going to colombia! Great that they are doing this, looks like venezuela is moving to be the first crypto country
I doubt it'll be that long and if it'll be used that much based on the fact that it's a new feature,and bitcoin ATM's even if areas were it's already been installed around the world haven't garnered the much publicity and expectations that was expected We can be sure of things getting better and more people appreciating the use of such machines,in some areas it attracts high fees, I think that's whats making it less in use
I bet that the queue to use these bitcoin ATM machines is going to be longer than the queue on the bridge going to colombia! Great that they are doing this, looks like venezuela is moving to be the first crypto country
Venezuela is one country where BTC use could really be pushed. It's a country where people really are in need of an alternative to fiat. I don't think that Maduro will allow it though, he'll push Petro if he has to to replace Bolivars.
Great news it show's bitcoin is gaining wider recognition because an bitcoin installed ATM machine is a true sign of acceptance and I hope for more of such development in the future. Bitcoin need to be brought closer to the people for easy access.
yes good news to be heard because the presence of the Bitcoin ATM means that the general public has considered it a medium of exchange such as fiat currency.
I wonder how long this will last, I've heard of government officials confiscating bitcoin miners from citizens already. I doubt the government will stand by and let people freely convert to bitcoin while they are trying to implement their own state backed cryptocurrency.
I'm not that confident in a good outcome either. Maduro has been signalling that he doesn't like anything related to our crypto currencies, because more adoption here means less interest in his own little toy.I just hope for the people there that they aren't being punished for using that ATM, because it honestly wouldn't surprise me with how Maduro doesn't give a damn about those who aren't cheering for him....
If you aren't cheering for him, even if you're completely neutral and not necessarily against him, he will make you wish you was. I'm glad that his coin hasn't been listed on an exchange yet.
I envy those Bitcoin enthusiasts that are living in Venezuela. This is a great project having an ATM installed in Caracas. I do hope that our country, and might be all countries too will also adopt the innovation from Financial Technology like this. As a bitcoin enthusiast, I would love to at least spend and get my cryptocurrencies converted and accepted with an ATM. After a year, if no-one will still initiate this kind of project, I think it is me who will change the game.
Hmmmm, this came as a serious surprise
If they have indeed obtained licenses for it it will be like the news of the year.
With all the mess Venezuela is in, the whole petro fiasco letting people transfer their money into a currency they can't control?
If I remember correctly the ones that tried this in India ended up in jail, I do hope these guys have done their homework better.
From what I've seen in the news, when there is a crowd in front of a supermarket usually it takes a few seconds and the rumor that they have stocked with enough to make one portion of kasha to enter a mad max scenario...
LE:
Seriously? You envy people who live in a country with a million or something inflation, that have no food and ended up on a weight loss program of 10 kilos per citizen, you envy the people who have killed all the animals from zoos, that are fleeing by the millions a country that can't provide anything for their citizens, no food, no medicine, no nothing?
If they have indeed obtained licenses for it it will be like the news of the year.
With all the mess Venezuela is in, the whole petro fiasco letting people transfer their money into a currency they can't control?
If I remember correctly the ones that tried this in India ended up in jail, I do hope these guys have done their homework better.
I'm sure that every Bitcoin ATM is placed in a crowded location where it is clearly visible to have people's attention for marketing and safety purposes. It's even happening with legacy ATM's that they are built into super markets or other buildings where there is a constant inflow/outflow of crowd.
From what I've seen in the news, when there is a crowd in front of a supermarket usually it takes a few seconds and the rumor that they have stocked with enough to make one portion of kasha to enter a mad max scenario...
LE:
I envy those Bitcoin enthusiasts that are living in Venezuela.
Seriously? You envy people who live in a country with a million or something inflation, that have no food and ended up on a weight loss program of 10 kilos per citizen, you envy the people who have killed all the animals from zoos, that are fleeing by the millions a country that can't provide anything for their citizens, no food, no medicine, no nothing?
I wonder how long this will last, I've heard of government officials confiscating bitcoin miners from citizens already. I doubt the government will stand by and let people freely convert to bitcoin while they are trying to implement their own state backed cryptocurrency.
https://blockmanity.com/news/bitcoin/venezuela-to-get-its-first-bitcoin-atm/
It should be installed in Caracas in the next two weeks.
It should be installed in Caracas in the next two weeks.
Quote
CryptoBuyer, a cryptocurrency ATM manufacturer, is planning to install the countries first Bitcoin ATM. The news was announced by the company’s CEO Jorge Farias on a Union Radio podcast. The ATM will be installed in Caracas and will be opened in the next two weeks.
“We are going to install the first cryptocurrency ATM in Venezuela, in the course of the next two weeks (…), we already have the equipment physically installed in Venezuela, in Caracas and they are in their final tests and we will be announcing them in social networks “, Jorge Farias said.
“We are going to install the first cryptocurrency ATM in Venezuela, in the course of the next two weeks (…), we already have the equipment physically installed in Venezuela, in Caracas and they are in their final tests and we will be announcing them in social networks “, Jorge Farias said.
Congratutaion!
A friend of mine living there told me that it's not the safest way to operate publicly with coins.
Not the safest way in what manner? That ill minded individuals wait for people to buy Bitcoin through an ATM and then steal their private key that's printed in form of a paper receipt?
I'm sure that every Bitcoin ATM is placed in a crowded location where it is clearly visible to have people's attention for marketing and safety purposes. It's even happening with legacy ATM's that they are built into super markets or other buildings where there is a constant inflow/outflow of crowd.
I am a supporter of every fiat entry point, and this is one more that we can add to the list. Let's hope that pro maduro camps won't attempt to get rid of them. More support for Bitcoin means less potential support for their shitty Petro scam coin.
Seems you've never been in a country with attitude and problems like Venezuela.
Yes, the ATM is on crowded place but if you think that could save you from robbery or beating the sh*t out of you and rob you, you are in big mistake. Still its good to have more support for bitcoin and every other alternative.
This is becoming better for the Venezuelan country with a bitcoin ATM in that country, because all of them know that currently the Venezuelan country is experiencing money problems, the worst ekinomi at the moment, hopefully this will be better for the country in the future especially, cryptocurrency and bitcoin.
Actually I hear the most about Venezuelan countries that support bitcoin, although there are many positive and negative responses to this, but I still hope that it can make bitcoin and other cryptocurrencies acceptable in other countries legally and have a favorable value for investors though it will be difficult to arrive at that but I'm sure slowly but surely bitcoin and crypto currencies will get a place in people's hearts.
because the acute crisis in the country resulted in their currency being worthless. and finally the government adopted a policy to use cryptocurrency as a means of payment. with the presence of atm in the country, it shows that they are increasingly consistent using cryptocurrency, so it is expected that if many countries legalize it, they will be released from the crisis
I see that Venezuela is one of the countries that have the biggest bitcoin transactions even after Russia, I got this report from the p2p localbitcoin market. Chances are they are trading more on the big exchanges too, even though many Venezuelans are said to have left the country. Bitcoin ATMs will be more useful in that country, this is good news.
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