Memphis Residents Now Have Their First Bitcoin ATM

RealEstCoin

member

Activity: 110

Merit: 10

The Commercial Real Estate Coin

Quote from: panju1 on November 15, 2016, 07:13:11 PM

Quote from: Posternut on November 15, 2016, 04:02:37 PM

The city of Memphis will now have a Bitcoin ATM as the firm Coinsource installs three new machines in the state of Tennessee. The company is the largest Bitcoin ATM provider in the U.S. and has averaged over one installation per week in 2016.

https://news.bitcoin.com/memphis-first-bitcoin-atm/

One transaction per week is abysmally low, for any ATM. How can you cover the cost of the machine, rental costs, running costs, etc at this rate? Adoption needs to really spike before ATMs are viable.

The article says they have installed one ATM per week for the year, which would be over 40 for 2016. That's pretty good.

MingLee

hero member

Activity: 490

Merit: 520

I'm not a Memphis resident, so I don't know how active Bitcoin is in that place, but it seems like a weird location. I haven't been paying attention to a ton of the Bitcoin ATM businesses and how they're securing their own market shares, but Memphis seems like a place that would be low down on the "priority markets" list.

Do they already have ATMs throughout a majority of the rest of the nation?

Harlot

hero member

Activity: 1806

Merit: 672

When you think of it this way it is just like a money changer except it is automated, this is clever for the said owner as they are only paying electricity with no labor cost. He will earn more in which he would apply higher dollar prices to its equivalent Bitcoin Value. Also another downside for this is no one will able to assist you on a new kind of machine and mostly people who will buy Bitcoin, are new to the BTC World.

Yakamoto

legendary

Activity: 1218

Merit: 1007

That's kind of an interesting market for a Bitcoin ATM, but hey, if it works then I don't think anyone is going to have any sort of issue with it.

Three of them already though, that's kind of a surprise. But they do look aesthetically pleasing, so maybe they'll catch some eyes and get some people involved who otherwise wouldn't be.

JeffBrad12

hero member

Activity: 2898

Merit: 529

Leading Crypto Sports Betting & Casino Platform

Quote from: panju1 on November 15, 2016, 07:13:11 PM

Quote from: Posternut on November 15, 2016, 04:02:37 PM

The city of Memphis will now have a Bitcoin ATM as the firm Coinsource installs three new machines in the state of Tennessee. The company is the largest Bitcoin ATM provider in the U.S. and has averaged over one installation per week in 2016.

https://news.bitcoin.com/memphis-first-bitcoin-atm/

One transaction per week is abysmally low, for any ATM. How can you cover the cost of the machine, rental costs, running costs, etc at this rate? Adoption needs to really spike before ATMs are viable.

Even, if this is not the right time for spread bitcoin atm, around the world. According to your sentences. It's just wasted the money.
Although it hasn't been got compare with fiat atm, we can think if will like 1 : 10.000 fiat atm user for a week.

panju1

legendary

Activity: 1246

Merit: 1000

Quote from: Posternut on November 15, 2016, 04:02:37 PM

The city of Memphis will now have a Bitcoin ATM as the firm Coinsource installs three new machines in the state of Tennessee. The company is the largest Bitcoin ATM provider in the U.S. and has averaged over one installation per week in 2016.

https://news.bitcoin.com/memphis-first-bitcoin-atm/

One transaction per week is abysmally low, for any ATM. How can you cover the cost of the machine, rental costs, running costs, etc at this rate? Adoption needs to really spike before ATMs are viable.

Posternut

member

Activity: 79

Merit: 10

The city of Memphis will now have a Bitcoin ATM as the firm Coinsource installs three new machines in the state of Tennessee. The company is the largest Bitcoin ATM provider in the U.S. and has averaged over one installation per week in 2016.

https://news.bitcoin.com/memphis-first-bitcoin-atm/

Topic: Memphis Residents Now Have Their First Bitcoin ATM (Read 476 times)