Topic: Greece to Receive 1,000 Bitcoin ATMs (Read 577 times)
But installing 1,000 ATMs seems like quite a huge investment. I doubt any company would make that kind of large inversion. Anyone has an estimate of how much would it cost?
Lamassu is a popular Bitcoin ATM provider: https://lamassu.is/
They have units ranging from their Douro ($6,500.00) down to the Braga ($1,800.00).
Low-end deployment: $1,800 x 1000 = $1.8 million
High-end deployment: $6,500 x 1000 = $6.5 million
Assuming they deploy a mix of machines, ~$4,000 (averaged cost) x 1000 = $4 million
I suppose with 1000 machines you could negotiate a discount buying in bulk, so maybe knock 20-30%% off these prices.
Of course this does not count the cost of leasing space, installation, initial cash loads into the ATMs, etc. I would guess you would need close to $8 - $10 million to start.
Update: I found this on their FaQ after more research:
Quote
What price breaks are available for purchases of ten units?
For quantities of 10+ units the prices for each are:
Douro: $5,500
Santo Tirso: $4,600
Braga: $1,600
For quantities of 10+ units the prices for each are:
Douro: $5,500
Santo Tirso: $4,600
Braga: $1,600
But installing 1,000 ATMs seems like quite a huge investment. I doubt any company would make that kind of large inversion. Anyone has an estimate of how much would it cost?
Interesting, are there any statistics detailing how many Bitcoin ATM's are installed in larger countries such as the US?
The Greeks didn't buy in when their crisis begun so what's going to be any different now? Apart from maybe seeing a bitcoin ATM & being curious about what it is, how & why are the Greeks going to be any more interested in bitcoin now than before?
Also how much does it cost to install 1000 bitcoin ATM's? This could be wasted money by Cubits & BTCGreece.
Also how much does it cost to install 1000 bitcoin ATM's? This could be wasted money by Cubits & BTCGreece.
1,000 is quite a significant amount of ATMs! I don't think it will impact the bitcoin price on the short term though, but the increase in public awareness might help on the longer run.
With Greece under so many tight rules how is bitcoin going to slide in under the radar? Once Europe notices heavy traffic it will want to clamp down and reroute the money back towards the banks. Would also think these atms would be a large target with cash flow being limited to the extent it is now.
Hope it works but I think it may cause more of a issue than create a new wave.
I have the same question. And not sure how it will necessarily be good for the price of bitcoin. Installing 1000 bitcoins in one small country sounds like too much . Hope it works but I think it may cause more of a issue than create a new wave.
With Greece under so many tight rules how is bitcoin going to slide in under the radar? Once Europe notices heavy traffic it will want to clamp down and reroute the money back towards the banks. Would also think these atms would be a large target with cash flow being limited to the extent it is now.
Hope it works but I think it may cause more of a issue than create a new wave.
Hope it works but I think it may cause more of a issue than create a new wave.
XT or Core ATMs?
...just kidding
...just kidding
I think this is a pretty good initiative. I don't know how are currency controls there, as mainstream media haven't really been talking about Greece, but if I'm not mistaken they're still in full effect, so this is more than needed.
Even if they didn't have controls in place, these ATM's make a lot of sense due to their currency problems. Greek people should realize it's a danger to have all the eggs in the same bag and they should diversify their portfolio to Bitcoin
Even if they didn't have controls in place, these ATM's make a lot of sense due to their currency problems. Greek people should realize it's a danger to have all the eggs in the same bag and they should diversify their portfolio to Bitcoin
Bitcoin service provider and exchange Cubits has partnered with Greek bitcoin exchange BTCGreece to install 1,000 bitcoin ATMs and help small and medium sized businesses move money.
To more on this news read here: http://cointelegraph.com/news/115143/greece-to-receive-1000-bitcoin-atms-as-trust-in-banks-long-gone
This may boost Bitcoin price in coming days.
To more on this news read here: http://cointelegraph.com/news/115143/greece-to-receive-1000-bitcoin-atms-as-trust-in-banks-long-gone
This may boost Bitcoin price in coming days.
Rather be , but then the price goes down only
Eh, mainly caused by the XT vs QT issue. Good for Greece because there is now a way for them to move money around without relying in banks.
Bitcoin service provider and exchange Cubits has partnered with Greek bitcoin exchange BTCGreece to install 1,000 bitcoin ATMs and help small and medium sized businesses move money.
To more on this news read here: http://cointelegraph.com/news/115143/greece-to-receive-1000-bitcoin-atms-as-trust-in-banks-long-gone
This may boost Bitcoin price in coming days.
To more on this news read here: http://cointelegraph.com/news/115143/greece-to-receive-1000-bitcoin-atms-as-trust-in-banks-long-gone
This may boost Bitcoin price in coming days.
Rather be , but then the price goes down only
Bitcoin service provider and exchange Cubits has partnered with Greek bitcoin exchange BTCGreece to install 1,000 bitcoin ATMs and help small and medium sized businesses move money.
To more on this news read here: http://cointelegraph.com/news/115143/greece-to-receive-1000-bitcoin-atms-as-trust-in-banks-long-gone
This may boost Bitcoin price in coming days.
To more on this news read here: http://cointelegraph.com/news/115143/greece-to-receive-1000-bitcoin-atms-as-trust-in-banks-long-gone
This may boost Bitcoin price in coming days.
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