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Topic: Greece's first Bitcoin ATM installed (Read 2135 times)

legendary
Activity: 2674
Merit: 3000
Terminated.
June 30, 2015, 11:19:31 AM
#44
Come on, What's good news about that?

Let's say Greek people bought tons of bitcoins, Then what? Price goes up, Chinese miners dumps lots of bitcoins & price gets even lower.

What will they do with those bitcoins? Will they eat "paper wallets" or "hard drives" that they hold bitcoins...
People seriously need to educate themselves. There is never going to be a drop like we saw until now (probably). The price spike in $1200 was not real and even then you could have sold at a 50% loss 3 months later.
Nobody really knows what kind of effect this might have on the Euro or global economy, everyone is just speculating. Also if the Greeks go back to using Drachma, something like in Zimbabwe could happen.

Miners aren't your everyday Bitcoin user. They should know what they are doing and they aren't going to be dumping in huge sums.
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
June 30, 2015, 11:14:09 AM
#43
One more good news for bitcoin.  Grin
But it looks like atm for bitcoin is not needed for now in Greece.  Cool
Because Now Greece is experiencing economic crisis.  Smiley


Come on, What's good news about that?

Let's say Greek people bought tons of bitcoins, Then what? Price goes up, Chinese miners dumps lots of bitcoins & price gets even lower.

What will they do with those bitcoins? Will they eat "paper wallets" or "hard drives" that they hold bitcoins...


when you bought BTC and sold your Euro, you now have ACCESS TO YOUR MONEY. you can sent it to any place on the world. you can store it in different assets in different countries.

maybe BTC price goes up 10% , maybe down 10% - BUT you have access to your money! (and when you dont want volatily, use coinapult or something like that)

NOW your are  F U C K E D  if you live in greece with 50.000 Euro on your bank account. good luck with that when you can only withdraw 20 euro per day - LOL!

and soon there wont be 50.000 € - there will be 50.000 New Drachme...

legendary
Activity: 1946
Merit: 1137
June 30, 2015, 08:03:30 AM
#42
That was a very smart move made by both the finishing end parties. It will be really helpful for the Greece citizens which are powered by the bitcoin currency. It will also be a nice way to show off how decentralised crypto currency is much better than the ordinary and how it is benefiting the society real time.
yeah it was a nice move but it is not even remotely enough. people would need money to buy and since they don't have access to their money because of the banks it is going to be so hard for them.
besides one bitcoin ATM is not gonna solve anything
member
Activity: 63
Merit: 10
June 30, 2015, 07:57:16 AM
#41
That was a very smart move made by both the finishing end parties. It will be really helpful for the Greece citizens which are powered by the bitcoin currency. It will also be a nice way to show off how decentralised crypto currency is much better than the ordinary and how it is benefiting the society real time.

I don't think a bitcoin ATM will do most people in Greece any good because they can't even get more than 60 euros out a day I think. Maybe some will start putting that money into bitcoin but I still think doing that would be risky.
hero member
Activity: 714
Merit: 500
June 30, 2015, 07:50:32 AM
#40
That was a very smart move made by both the finishing end parties. It will be really helpful for the Greece citizens which are powered by the bitcoin currency. It will also be a nice way to show off how decentralised crypto currency is much better than the ordinary and how it is benefiting the society real time.
hero member
Activity: 812
Merit: 1000
June 30, 2015, 06:21:13 AM
#39
since there is only one bitcoin ATM in whole Greece at a bookstore it is not going to do have any big help for Greeks to buy bitcoin easily.
the bitcoin price looks seriously affected by the news though!

It may only be in one store at the moment but that is how it starts, we just need to chill and give it time. In the end every country will have BTC ATM's and then it will continue to grow. Not sure that is the soul reason we have seen growth to be fair, it was growing before we got word of this. It is surly helping though.
hero member
Activity: 910
Merit: 1000
June 30, 2015, 06:19:52 AM
#38
Does this ATM dispense cash ? Or only take cash for BTC?

Good question.
If it's one way then one can only buy Bitcoins.
That is however IF they got cash because of the capital control and €60 per day limit.

If it's two way, then Bitcoiners might be able to get some cash if needed, now that the banks are closed.
That is however IF the BTM has cash :-/

I believe I read that it takes cash and credit cards, but I'm not sure the credit cards are working atm. I will try to find where I read that...

EDIT: Forgot to mention - it's one-way also. See it in action: https://www.youtube.com/watch?v=1TmPU3ii_uE
legendary
Activity: 3668
Merit: 6382
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June 30, 2015, 06:17:45 AM
#37
The only use for it nowadays would be to transfer money out of country.
However, interesting moment to do this, I'd be curious about some usage statistics...
legendary
Activity: 3248
Merit: 1072
June 30, 2015, 06:11:03 AM
#36
since there is only one bitcoin ATM in whole Greece at a bookstore it is not going to do have any big help for Greeks to buy bitcoin easily.
the bitcoin price looks seriously affected by the news though!

they don't have money to live and buy foods, you really think they will buy bitcoin, lol a bit pretentious anyway

none in greece will buy bitcoin for now, a thing like that is good only for rising the awareness about crypto, in general
sr. member
Activity: 266
Merit: 250
June 30, 2015, 05:51:18 AM
#35
Is there any fiat cash in the ATM though? Cheesy
legendary
Activity: 1722
Merit: 1000
Satoshi is rolling in his grave. #bitcoin
June 30, 2015, 05:47:49 AM
#34
Good news, the Bitcoin ATM's are realy easy to use although the one I saw was limited to just bank notes and not credit cards, very easy to use it actually surprised me.
Grin As Greece make bitcoin as legal and install ATM which is easy to use.Very soon bitcoin will succeed through out the world.Huge potential area for bitcoin is at "International Airport"and "Shopping Mall" .It wil make bitcoins more in demand Grin
http://www.coinfox.info/news/2256-greek-bitcoin-enthusiasts-installed-first-bitcoin-atm-in-athens

Best potential for bitcoin would be if it would be available to use it on normal ATM's, upgraded to support bitcoin as payment.
There would be no more need for new ATM's, and finding locations, user would just go to any "upgraded" version of ATM and make his transaction. I'm hoping that we will see this as an option in near future,
but to achieve it, bitcoin has to reach much wider audience than it has today, to force the ones fighting it to give up and join . Is this only a dream; probably, but it's also one of the possibilities, like 250$ once was.

cheers
sr. member
Activity: 308
Merit: 250
Invest & Earn: https://cloudthink.io
June 30, 2015, 05:36:06 AM
#33
Good news, the Bitcoin ATM's are realy easy to use although the one I saw was limited to just bank notes and not credit cards, very easy to use it actually surprised me.
Grin As Greece make bitcoin as legal and install ATM which is easy to use.Very soon bitcoin will succeed through out the world.Huge potential area for bitcoin is at "International Airport"and "Shopping Mall" .It wil make bitcoins more in demand Grin
http://www.coinfox.info/news/2256-greek-bitcoin-enthusiasts-installed-first-bitcoin-atm-in-athens
legendary
Activity: 3472
Merit: 10611
June 30, 2015, 05:11:31 AM
#32
since there is only one bitcoin ATM in whole Greece at a bookstore it is not going to do have any big help for Greeks to buy bitcoin easily.
the bitcoin price looks seriously affected by the news though!
hero member
Activity: 1582
Merit: 502
June 30, 2015, 04:17:08 AM
#31
Does this ATM dispense cash ? Or only take cash for BTC?

Good question.
If it's one way then one can only buy Bitcoins.
That is however IF they got cash because of the capital control and €60 per day limit.

If it's two way, then Bitcoiners might be able to get some cash if needed, now that the banks are closed.
That is however IF the BTM has cash :-/
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
June 30, 2015, 03:25:55 AM
#30


I doubt that ATM will have any impact or traffic because it seams to be placed in some crowded small shop or something similar.

Just like with anything else, location should be more than just a point of the business plan, and placing that ATM in the airport,marketplace, or on any of the bigger streets would be much
more preferable than sticking in where it currently is.

Placement in a high traffic location requires money to rent the space which would require higher fees at the ATM which would discourage its use. Some Bitcoin user that has a small shop can easily add a Bitcoin ATM to their shop with a few thousand dollars.

Placing it in an airport not only requires a lot of money but also a lot of red tape with the airport and possibly exposure to some required currency exchange regulations that would easily be ignored in some small shop.
legendary
Activity: 3976
Merit: 1421
Life, Love and Laughter...
June 30, 2015, 01:32:10 AM
#29
I wonder if this place will get flooded with people this week.

https://www.youtube.com/watch?v=1TmPU3ii_uE

(before you try to scan the private key in the video, it has a zero balance Wink )

LOL!  I wonder how funny the owners think it is...
legendary
Activity: 1722
Merit: 1000
Satoshi is rolling in his grave. #bitcoin
June 30, 2015, 01:30:49 AM
#28


I doubt that ATM will have any impact or traffic because it seams to be placed in some crowded small shop or something similar.

Just like with anything else, location should be more than just a point of the business plan, and placing that ATM in the airport,marketplace, or on any of the bigger streets would be much
more preferable than sticking in where it currently is.



************* OK WE HAVE A CANDIDATE ************

Retweet this and lets get it to float:

https://twitter.com/TaoOfSatoshi/status/615663017217392641

************************************************


I retweeted that Smiley

cheers
sr. member
Activity: 392
Merit: 250
June 30, 2015, 01:29:47 AM
#27
One more good news for bitcoin.  Grin
But it looks like atm for bitcoin is not needed for now in Greece.  Cool
Because Now Greece is experiencing economic crisis.  Smiley



It is needed as in Greece with the ATMs and economy collapsing, they also don't have access online payment systems and will have trouble buying bitcoin if they wish to do so. With ATM's I think they can just convert all their cash and fiat into bitcoins straightaway .

Has there been any statistics on how was the response at the ATM over the last week ? Certainly should have grown.
legendary
Activity: 1652
Merit: 1007
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newbie
Activity: 13
Merit: 0
June 29, 2015, 08:24:36 PM
#25
I think that greece is going absolutely crazy at the moment.  I can't believe they're just getting an atm now though.  It seems like this was overdue by 6 months.
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