If it is more convenient for people to buy Bitcoin, will Bitcoin be more popular - page 3.

sapnu

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Quote from: Tim-BTC on July 23, 2021, 03:25:03 AM

Cryptocurrency ATM company Bitcoin Depot has announced a long-term partnership with Circle K, a convenience store chain in the United States and Canada.
Bitcoin Depot plans to install ATMs in "thousands" of Circle K convenience stores. Bitcoin Depot stated that its ATM machines enable users to exchange cash for cryptocurrency, allowing simple face-to-face transactions, giving users immediate access to Bitcoin and more than 30 other cryptocurrencies.
Bitcoin Depot has installed more than 700 Bitcoin ATMs in 30 states in the United States and Canada.

If it is more convenient for people to buy Bitcoin, will Bitcoin be more popular?
If you don’t know Bitcoin, and you see this ATM when you go to buy bread, do you buy Bitcoin with change?
If you didn't buy it this time, when you saw these ATMs elsewhere, would you be curious to buy some?

source

It is indeed convenient to buy bitcoin yet there are a lot of factors that is needed to be considered first before everyone gets encouraged to buy it. One is its volatility, we are all aware that bitcoin's value changes over time and buying is not always an ideal thing. Another is the possible fees that will be required before you can make a transaction, since bitcoin gives us financial freedom, it will make no sense to put too much fee granted by the government or any other organization. It will surely be a good help as the number of bitcoin ATM grows still we cannot expect everyone to buy bitcoin through it specially when there is a bull run going on.

Btcvilla

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Of course it.goes back to each other's.opinions, especially now that many people are refused.to buy bitcoin, because it.can be.taxed $ 10 well it.will have a huge impact on someone who wants.to buy it.especially from.beginners, but for the level of popularity.we really admit.that.currently the crypto world has.a fairly.high level of.popularity compared.to other investments.without any new purchases.bitcoin will still be at its.level of.popularity

DOH!

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If I remember correctly, the number of ATHs in the US has increased to more than 28 thousand. This number may still be inaccurate as the number of ATMs is constantly expanding. In the digital age, when people expand their needs, overcome the backwardness, they can do their own research on digital media youtube....etc, maybe the difficulty is just the middle class and Older people will be less likely to have exposure to or trust in bitcoin. But it won't be long before bitcoin becomes even more popular, as part of their lives.

maxreish

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Bitcoin is started to be known by many, started to be popular in different countries. And buying bitcoin is already been convenient right now. Though centralized exchanges required some KYC but then it is still easy to buy bitcoin.

Also, those BTC ATM machines are increasing , people are being aware how those bitcoin works, how it can be use conveniently and how it can be transacted easily online. But then, there are always some disadvantage that could be some reason why people tend to disagree using it. As fees are higher and volatility is very active making them feel afraid to use it.

rhomelmabini

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Quote from: dansus021 on July 24, 2021, 02:22:11 AM

bitcoin will reach new ath is coming Grin

it would be more great if accept not just bitcoin but also another crypto or stablecoin since bitcoin in my opinion can't be using for everyday transaction since fee getting high and time confirmation getting slow so other crypto would be great and i hope it will atm come to indonesia

Not that being too optimistic but we will get there and these days of price action will just be a blip on the charts for years to come. HODL as they say! Bitcoin isn't yet for day to day usage yet but we will be scalable in the future, fingers crossed.

Quote from: davis196 on July 24, 2021, 01:53:49 AM

How can an ATM machine allow "face-to-face transactions"?
What about KYC policies?I don't think that the authorities would allow people to purchase Bitcoin thru ATM machines without ID verification.
The Bitcoin price would've been way higher,if Bitcoin purchases were easy and convenient.There's no doubt about that.The problem is that Bitcoin purchases will never be easy,cheap and convenient.

That depends on the Bitcoin ATM company but most of these Bitcoin ATMs are either you need to sign up with them or you're using your credit or debit card, anonymity isn't secured here to be honest. Well, it will really never be easy if people are skeptical about their privacy in the first place. I think we are getting there on the convenience side because of the LN but on the cheapness and easeness that will depend on different occasions.

ropyu1978

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if it is safer for people to buy bitcoin, it is certain that bitcoin will be even more popular, because we see now that our movements are restricted by the government, and china has banned bitcoin mining, so people who are not used to holding bitcoins are definitely afraid, but if accessing bitcoin easy, I'm very sure bitcoin holders will definitely increase, and definitely more popular..

mrongos

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now most of those who hold bitcoins can be said, middle to upper class people, and people who are good at playing on the internet, and it can be said that people who have gone to school, but if people who are middle to lower, of course no one plays in the crypto world, right? for no reason, middle and lower people don't believe in bitcoin because they are difficult to get access to, even if there were they would be difficult to learn about it all, but if it was more convenient for people to buy bitcoin, it is certain that many would buy and hold bitcoin , for sure bitcoin will be more popular than now..

mrongoz22

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LIVECASINO

anything that is safe to use and easy to find and for sure we can have advantages, of course many want to have it, especially bitcoin which definitely gives us freedom in all fields and can give us profits, it's clear everyone will buy bitcoin, the more people who buy bitcoin it is certain by itself bitcoin will be more popular,

mrongoz_imut

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if people are safer buying bitcoins, what is. bitcoin is more popular, maybe my answer is definitely yes, actually there are many people who want to play in bitcoin, but ordinary people find it difficult to learn about bitcoin, if there is easy access to bitcoin, there are certainly many people who are involved in the crypto world, for now the government has banned the use of bitcoin, so ordinary people are afraid to play with crypto money, unlike us people who have been playing in bitcoin for a long time, they will definitely not be afraid anymore, whatever the risks that come they will definitely face.

aoluain

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Quote from: davis196 on July 24, 2021, 01:53:49 AM

How can an ATM machine allow "face-to-face transactions"?
What about KYC policies?I don't think that the authorities would allow people to purchase Bitcoin thru ATM machines without ID verification.
The Bitcoin price would've been way higher,if Bitcoin purchases were easy and convenient.There's no doubt about that.The problem is that Bitcoin purchases will never be easy,cheap and convenient.

I can imagine if there is no KYC required to use the ATM's the will attract a certain
amount of interest from people looking to transact with cash even with higher fees,
a small price to pay for a bit of anonymity.

If the transactions are easy and convienient it should attract more traffic and that
goes into the melting pot of users and transactions.

dansus021

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Part of AOBT - English Translator to Indonesia

bitcoin will reach new ath is coming Grin

it would be more great if accept not just bitcoin but also another crypto or stablecoin since bitcoin in my opinion can't be using for everyday transaction since fee getting high and time confirmation getting slow so other crypto would be great and i hope it will atm come to indonesia

Tim-BTC

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Quote from: davis196 on July 24, 2021, 01:53:49 AM

How can an ATM machine allow "face-to-face transactions"?
What about KYC policies?I don't think that the authorities would allow people to purchase Bitcoin thru ATM machines without ID verification.
The Bitcoin price would've been way higher,if Bitcoin purchases were easy and convenient.There's no doubt about that.The problem is that Bitcoin purchases will never be easy,cheap and convenient.

Now many wallets can be traded, and you can also transfer money face-to-face, without kyc at all.

Tim-BTC

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Quote from: mk4 on July 23, 2021, 10:22:32 PM

Bitcoin is already really really convenient for most people. I'd even go far as saying that downloading an app and buying bitcoin through it is significantly more convenient than going to a bitcoin ATM; at least for most people besides the older demographic.

A lot of people shunning out bitcoin is mostly due to ignorance and fear of volatility than the convenience of it.

yeap，You got the point. Ignorance is the biggest obstacle. Cool

It is too difficult to change consciousness.
Wake-up will be a big project, not something that can be solved by simply adding a few machines.

davis196

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How can an ATM machine allow "face-to-face transactions"?
What about KYC policies?I don't think that the authorities would allow people to purchase Bitcoin thru ATM machines without ID verification.
The Bitcoin price would've been way higher,if Bitcoin purchases were easy and convenient.There's no doubt about that.The problem is that Bitcoin purchases will never be easy,cheap and convenient.

KaliLinux

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Quote from: Tim-BTC on July 23, 2021, 03:25:03 AM

Cryptocurrency ATM company Bitcoin Depot has announced a long-term partnership with Circle K, a convenience store chain in the United States and Canada.
Bitcoin Depot plans to install ATMs in "thousands" of Circle K convenience stores. Bitcoin Depot stated that its ATM machines enable users to exchange cash for cryptocurrency, allowing simple face-to-face transactions, giving users immediate access to Bitcoin and more than 30 other cryptocurrencies.
Bitcoin Depot has installed more than 700 Bitcoin ATMs in 30 states in the United States and Canada.

If it is more convenient for people to buy Bitcoin, will Bitcoin be more popular?
If you don’t know Bitcoin, and you see this ATM when you go to buy bread, do you buy Bitcoin with change?
If you didn't buy it this time, when you saw these ATMs elsewhere, would you be curious to buy some?

source

Yeah, I believe that somehow it would. People would now naturally be seeing easy access to purchasing Bitcoin around them and the fact that they just have to be able to do this just by going for groceries at the store and having access is big in my opinion even though I don't suppose that big transaction will be going on through this ATMs. Even those that don't know what it is still would be curious to know, so again for me, it is also more of Bitcoin exposure to more people that's a plus with the ATMs.

aysg76

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Buying Bitcoin is not at all difficult if you wish to do so and According to me it's quite popular and becoming top most investment preference for many investors as exchanges have witnessed huge rush in transaction volume and user base.But who still think it's bad choice due to all these stupid FUD and all the manipulation find it difficult and stay away from it.But yes implanting Bitcoin ATM's at each corner would give boost to adoption but you should always take into consideration the fees and KYC because they can be a barrier to your investment.

Ararbermas

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If bitcoin become legal all over the world and can be use in different ways of withdrawal and become available as well as payment methods perhaps it will become more convenient for all people to buy bitcoin as it has big advantages to the real fiat. But unfortunately people nowadays don't see the real difference when it comes such thing because of being lack of knowledge. But surely it will happen in the future because bitcoin adaption is increasing gradually everytime it makes ATH, and in fact some countries were using it as a legal tender, so i know it will become the key to make these thing convenient to use in the future.

ranochigo

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Quote from: Obito on July 24, 2021, 12:24:14 AM

Well, I think that removing or having less charge is going to be under the convenience umbrella so I think that if it's convenient to buy bitcoin, it would be more popular. I mean there's an app in my country where you can directly buy bitcoin with fiat through their apps and so far no complaints about the fees.

People won't just buy Bitcoins for $10, or anything below $100. The fees takes at least 10% of that, and transaction fees when sending to the address and from the address basically takes almost half of the Bitcoins that you've bought. Handling large amount of Bitcoins wouldn't be advisable for a Bitcoin ATM and using an actual bank account would be better. It would be fine if the ATM allows for LN or if the user absolutely needs privacy and they don't enforce KYC.

pooya87

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Obviously it would help if the problems with the banking system and all the KYC nonsense went away but I don't think it would help the adoption that much. The reasons why the adoption is growing this slowly is because:
1. The FUD and misinformation about bitcoin that has misled people for many years and can not be fixed overnight.
2. The fact that bitcoin is different from traditional currency and user has to handle everything including securing their money (private keys), handling transactions and fees, etc.
3. The volatile price specifically the sudden unreasonable big drops.

Obito

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Quote from: ranochigo on July 24, 2021, 12:21:31 AM

The convenience isn't the most important factor. Most Bitcoin ATMs charge a premium of at least 10%, at least in my area. That is likely going to turn away any potential Bitcoin buyers, and you're subjected to KYC anyways. If you are serious about purchasing Bitcoin, you'll more likely be interested in using a proper exchange that doesn't levy such high fees. Buying a tiny amount of Bitcoins (ie. a few dollars) is practically useless given the fees.

I never really got the point of ATM, after the surge in TX fees and the price. People looking to use Bitcoin for the long term just don't use ATMs at all.

Well, I think that removing or having less charge is going to be under the convenience umbrella so I think that if it's convenient to buy bitcoin, it would be more popular. I mean there's an app in my country where you can directly buy bitcoin with fiat through their apps and so far no complaints about the fees.

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