Topic: The Bitcoin ATM Is Coming at a Location Near You??? - page 2. (Read 2304 times)

There are many ATMs throughout Canada so its mostly the undeveloped countries that are so excited for this news.
One of my fav sites to use is https://localcoinatm.com/

Actually we do have a Bitcoin ATM near my location but not much people using it because of the convenient of BTC in cash is not much. They still prefer withdraw money from withdrawing cash from a Bitcoin ATM.
And the fee of withdraw is really costly.

While on paper this idea really looks nice, it's very difficult to implement it in reality I'll discuss here why. Let's begin with the most common one, Regulations not all countries have regulated it, and they'll certainly not allow such an ATM. Now coming to transaction time, we all know sometimes it takes ages to confirm how will that be fixed. Last but not the least who is going to be making these ATMs, considering there're so many frauds people will prefer only legit companies.

this is a very good idea and will certainly be easy for everyone to access, but unfortunately this will be difficult to realize in my country because my country has not legalized bitcoin, it will not happen in the near future it still takes time.

http://www.bitcoinblogger.com/2011/07/bitcoin-atm-is-coming-at-location-near.html

If the cards fall into place bitcoin ATMs may be on the way.

There are many annoyances with bitcoin including the following:

1.) Bitcoins are very difficult to obtain on the Internet.
2.) It is near impossible for an average user to generate bitcoins with his or her computer.
3.) Technical skill is required to obtain bitcoins via an online exchange.
4.) If money is sent from a bank account to an online exchange then the transaction is no longer anonymous and that money can be traced.
5.) Sending cash in the mail for bitcoins could take days, weeks, or not at all and is unreliable.

What is the solution to these many problems? Multiple teams within the United States are attempting to build and distribute ATMs in mass quantities. ATMs will allow bitcoins to be distributed anonymously with cash without the need for an exchange. With bitcoin ATMs it will only be a drive away before an average person can buy bitcoins! The value of bitcoin will skyrocket once a non-technical user can buy bitcoins as easy as buying local goods.

There are many ways to distribute bitcoins with an ATM and each development team is handling them uniquely. I could explain in further detail in how these bitcoin ATMs would work, but to protect the business interests of my sources I am going to remain quite for now. Who will win the race to provide the best bitcoin ATM with the most locations?

Here is an early attempt of one team hacking open an eBay bought ATM:

http://biticon.wordpress.com/2011/03/31/bitcoin-atm/
http://biticon.wordpress.com/2011/04/16/atm-progress/