Topic: How does bitcoin ATM going to affect bitcoin? - page 3. (Read 1479 times)
Currently not many atms are not there. The government is aware of everything. The fees will always play a major role. Plus the security will also be a concern. Normally you see atms being robbed and money goes, you cant let security slip with these atms.
It would help in adoption of bitcoin much quicker and many people will come to know about bitcoin. And many wool switch to bitcoin system of payment instead of bitcoin because it has advantage over traditional banks. ATM will also help us to withdraw money instantly anywhere we have atm.
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Bitcoin ATMs are a nice way to get visibility for BTC, but the premium I have to pay in my city are a very high 14%. Also the first time using you have to supply ID and cell phone number (KYC/AML laws). The 14% is the major barrier though.
My guess is that BTC ATMs are not going to affect BTC's evolution that much.
Bitcoin ATMs are a nice way to get visibility for BTC, but the premium I have to pay in my city are a very high 14%. Also the first time using you have to supply ID and cell phone number (KYC/AML laws). The 14% is the major barrier though.
My guess is that BTC ATMs are not going to affect BTC's evolution that much.
Having bitcoin ATM will be good for mass adoption and it will be easier to attract new local merchants to start accepting bitcoin payments because if they need cash they can just exchange those received bitcoins in near by bitcoin ATM. This will increase use cases of bitcoin for people near those bitcoin ATMs.
Having more Bitcoin ATM's increases liquidity of Bitcoins and more flow into the economy. This way people can spend it more by withdrawing funds from the ATM or depositing funds into a Bitcoin wallet. On the map linked above, I've noticed that most of Asia and Russia have lesser ATM's due to stringent laws and regulation of ATM machines by Reserve Banks in several nations. So, in such cases even privatized operation of ATM's aren't allowed, so chances of that happening are pretty slim.
Bitcoin atms are few and far between and only in big cities. I don't think in most countries ghey have very much exposure. That and why would you need to go to a physical location to but bitcoins when you can buy them online for less fees? It just seems redundant like buying an mp3 in a physical store.
I really dont understand how this will affect Bitcoin aside from increasing its popularity and I dont see how it will be beneficial to those whose FIAT is not in either of all the popular currency in which Bitcoin is mostly quoted. For countries aside the ones I said earlier I am still trying to figure how the exchange process will be profitable to users because will the ATM issue in my local currency or in dollars and if its my local currency, at what rate? At official rate or at parallel rate?
I am wondering if there are a lot of bitcoin ATM spread around in your country, how will it affect to bitcoin, will it attract more user, will it boost bitcoin reputation, or will it provoke the government for banned the coin? because as we know bitcoin also give freedom to money laundry, and other illegal transaction
There is two way for answering this question, definitely, with a lot of the bitcoin atm are spreading in every country will boost the popularity and massive adoption of bitcoin, but another from that bitcoin still having the opponent like the government are controlling by the banker will preventing it, with making some strict rules for making a limitation for that.A very thought-provoking answers and true friend. because it is basically still constrained in bitcoin policies and the interests of every country that exists in the world, so it would be one thing to change or maybe the Government will use the bitcoin or agree with that but there are some definite terms the same as other financial terms
I am wondering if there are a lot of bitcoin ATM spread around in your country, how will it affect to bitcoin, will it attract more user, will it boost bitcoin reputation, or will it provoke the government for banned the coin? because as we know bitcoin also give freedom to money laundry, and other illegal transaction
There is two way for answering this question, definitely, with a lot of the bitcoin atm are spreading in every country will boost the popularity and massive adoption of bitcoin, but another from that bitcoin still having the opponent like the government are controlling by the banker will preventing it, with making some strict rules for making a limitation for that.
We also have a few in my town and they work great too 
Usually bitcoin ATM require id and face verification to keep record of all the bitcoin buy/sell via those ATMs and this info should be delivered to government in case of investigation. https://www.cryptocompare.com/exchanges/guides/how-does-a-bitcoin-atm-work-or-how-to-use-a-bitcoin-atm/
So even having bitcoin ATM may not promote money laundaring, actually having bitcoin ATM can easily boost adoption on those area/country due to easy access to bitcoin.
So even having bitcoin ATM may not promote money laundaring, actually having bitcoin ATM can easily boost adoption on those area/country due to easy access to bitcoin.
It definitely increases awareness. I used a Bitcoin ATM in a gas station the other day, and spent a good 30 minutes explaining it to people. Luckily the fees on the ATM I used were only 5%.
We have a bitcoin atm in the centre of town, here in n ireland and yeah i would say that must get people asking questions about what it is, if anything it is good pr for bitcoin. i wouldnt buy from them tho as they are always over priced
If we take a look at this map http://www.coindesk.com/bitcoin-atm-map/ you will see that there isn't much so governments wouldn't take Bitcoin as a threat (at least not yet). (Africa only have 1 ATM and Russia have none)
So for the moment , I guess It's safe to say that they could boost Bitcoin reputation but with time , It could provoke the government and make them ban it.
So for the moment , I guess It's safe to say that they could boost Bitcoin reputation but with time , It could provoke the government and make them ban it.
I am wondering if there are a lot of bitcoin ATM spread around in your country, how will it affect to bitcoin, will it attract more user, will it boost bitcoin reputation, or will it provoke the government for banned the coin? because as we know bitcoin also give freedom to money laundry, and other illegal transaction
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