The history of bitcoin ATMs is much longer than I thought! - page 3.

AniviaBtc

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Quote from: Darker45 on March 08, 2021, 08:47:13 PM

I wonder, was there really a need on your part to travel a few miles on a bicycle and on a very cold day just to transact with a Bitcoin ATM? Or was it just you thinking it was a nice day to bike around and visit the Bitcoin ATM in the adjacent town?

My point is that having a Bitcoin ATM around is nice and could be handy at times but I don't think people really need them. Well, if you are stuck traveling somewhere where stores are not accepting payments in cards and you have no cash in hand and there was no other ATM available but a Bitcoin ATM, then it's a lot of help. But I'm not sure if anybody will be caught in such circumstances.

Crypto-supported cards are enough to make Bitcoin ATMs less important. Moreover, I don't think buying Bitcoin through an ATM is also the best method.

I also thought about this that some of us really prefer to have a transaction online instead of going on a certain place just to buy bitcoin.

Bitcoin ATMs are a good sign that we are seeing mass adoption in some places because they are allowing these machines to operate freely.

If it is not necessary to use Bitcoin ATM then don't push yourself to do it.

But if you just want to experience it and you are curious about how it works then we are free to do it so.

nutildah

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I used one recently myself and I agree, they have come a long way. I used one for the first time in 2016. It was in the lobby of a hotel and the crowd I was with weren't very happy that they had to sit around for half an hour while the withdrawal confirmed 3 times... Even the hotel security guard thought I was wasting my time and told me to go use the (real) ATM next door.

Now you can initiate the sale at home and then go pick it up when its ready. Sales fees around here is about 5%, which isn't terrible. But if you want to buy BTC they tack on a 20% premium! Its ridiculous... But as far as selling concerned, I can be done with the experience in the same amount of time it would take me to withdraw cash.

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Quote from: The Sceptical Chymist on March 08, 2021, 07:31:16 PM

the ATM didn't even require a scan of my driver's license. It was simple and easy to buy bitcoin at this one and I'm happy I made the trip.

This is because of the amount you were trading, most services have a system in place where smaller amounts doesn't require KYC (although some form of identification like phone number is necessary), for coinflip their limit is $900;

Quote from: The Sceptical Chymist on March 08, 2021, 07:31:16 PM

I'm assuming they weren't around back then, but I don't even recall much discussion of them until 2016 or so--and I guess I assumed it was a relatively new concept. I was wrong.

Agreed, the concept of an ATM for exchanging Bitcoin must have been relatively new as Bitcoin itself had a very small community at the time. Coinatmradar only goes as far back as 2014, and records that there were 5 Bitcoin ATMs in existence at the time, compared to the 16,450 registered today.

TravelMug

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There's also another earlier thread, The Bitcoin ATM Is Coming at a Location Near You???.

It's interesting though that after 3 years in that thread (2014), someone posted that an ATM has been established in Switzerland. So it took that long for crypto business owners to realised how lucrative a bitcoin ATM could be, and now we have 16445 as per https://coinatmradar.com/, which coincidentally was also started around 2014.

Darker45

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I wonder, was there really a need on your part to travel a few miles on a bicycle and on a very cold day just to transact with a Bitcoin ATM? Or was it just you thinking it was a nice day to bike around and visit the Bitcoin ATM in the adjacent town?

My point is that having a Bitcoin ATM around is nice and could be handy at times but I don't think people really need them. Well, if you are stuck traveling somewhere where stores are not accepting payments in cards and you have no cash in hand and there was no other ATM available but a Bitcoin ATM, then it's a lot of help. But I'm not sure if anybody will be caught in such circumstances.

Crypto-supported cards are enough to make Bitcoin ATMs less important. Moreover, I don't think buying Bitcoin through an ATM is also the best method.

The Sceptical Chymist

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I took my bicycle out for a very cold 6 mile ride today to visit an ATM in the next town--and, by the way, I had a much better experience than the last couple of times I ventured out to a bitcoin ATM. The markup wasn't ridiculous and the ATM didn't even require a scan of my driver's license. It was simple and easy to buy bitcoin at this one and I'm happy I made the trip.

So I searched Bitcoin Discussion for "bitcoin ATM" looking for previous threads I'd posted in, and to my surprise most of the threads that popped up were from the early days of crypto, including this one from 2011. I'm assuming they weren't around back then, but I don't even recall much discussion of them until 2016 or so--and I guess I assumed it was a relatively new concept. I was wrong.

If you've never browsed threads/posts on this forum from way back, I highly recommend spending some time doing so because it's fascinating how things from 10 years ago seem ancient now. I also recommend the Coinflip ATMs (which I used today) based on my admittedly limited experience, because you could do a hell of a lot worse with the other ones which charge you an arm and a leg and want at least some KYC docs.

Happy to hear your thoughts on any of this.

Topic: The history of bitcoin ATMs is much longer than I thought! - page 3. (Read 489 times)