Why arnt we seeing more bitcoin ATM popping up? - page 7.

chennan

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Quote from: smiletyson on December 14, 2015, 06:07:36 PM

Most of them get robbed (if they're not protected well by the shop owner etc).
Also they're really expensive and there's not much people who use them, so the expected roi is many years. Nobody finds them profitable to invest in.

Idk, they could be profitable in a country or state that has a lot of tech savvy people that at least know and understand a little bit about bitcoin. They probably sometimes check and see every now and then if there are new ATM's popping up around them every now and then, and I would think that you could potentially bring in a lot of business if you decided to get one.

smiletyson

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Most of them get robbed (if they're not protected well by the shop owner etc).
Also they're really expensive and there's not much people who use them, so the expected roi is many years. Nobody finds them profitable to invest in.

lolgato

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We don't really need them and there very expensive to produce.

CoinATMRadar

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Quote from: WENGER on December 14, 2015, 12:52:24 AM

Base on my personal experience, it's a lot easier to buy bitcoins in person from someone than to use an ATM machines an go through the long process before having your bitcoin...

In many cases the process of buying bitcoins is simple as scan code, feed cash, click send = 15 seconds. No registration or verification.
Almost all lamassu machines (~30% of all bitcoin ATMs) work like this.

OROBTC

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...

The metropolitan population of my city is almost 3,000,000 yet there is only one BTC ATM (BTM) that I know of.

They charge 9% premium over "spot". The machine (or maybe the wifi network it is hooked into) does not always work.

That 9% premium *seems* like it would be attractive. I should reach out to the owners and find out just how good an investment this is, and if good enough..., join them!

harizen

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Quote from: michietn94 on December 14, 2015, 12:31:58 AM

I think if more people acknowledge and using bitcoin it will pop up more ATM

for now people still adapting the usage of bitcoin and

if more people request it I think the company or third party will place more bitcoin ATM machine

Yes you are right here. And I will add, if one country's government will truly regulates bitcoin as a whole, expect more Bitcoin ATM will be built eveywhere especially in the urban areas.

Quote from: WENGER on December 14, 2015, 12:52:24 AM

Base on my personal experience, it's a lot easier to buy bitcoins in person from someone than to use an ATM machines an go through the long process before having your bitcoin so I assume there's a lot lesser demand for bitcoin ATM machines than you might thought and that's the main reason that lesser investors invest their money's into buying and establishing an ATM machine in bitcoins.

Hmm quite disagree. Trading from person is risky except if you are doing your transaction by meetups.

WENGER

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Base on my personal experience, it's a lot easier to buy bitcoins in person from someone than to use an ATM machines an go through the long process before having your bitcoin so I assume there's a lot lesser demand for bitcoin ATM machines than you might thought and that's the main reason that lesser investors invest their money's into buying and establishing an ATM machine in bitcoins.

michietn94

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I think if more people acknowledge and using bitcoin it will pop up more ATM

for now people still adapting the usage of bitcoin and

if more people request it I think the company or third party will place more bitcoin ATM machine

Jeremycoin

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I think because it's enough for this year, but it would popping up again in next year. Just wait for it Wink

spirit of btc

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To see more bitcoin ATM's popping up VISA/PLUS should integrate bitcoin fully into their platform. Visa or mastercard is accepted globally, if this happens we will see Bitcoin ATM's in each and every corner of the world

DebitMe

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Quote from: CoinATMRadar on December 04, 2015, 05:46:40 PM

Quote from: DebitMe on December 04, 2015, 10:06:07 AM

There is very little information about ATM's available. I have been trying to reach out and compile information to get a business plan together to open 3 test units in the Kansas City area and grow from there, but people aren't very willing to open up about sales and profit information, which makes it very hard to put any kind of reliable forecasts together.

I would love to open up some ATM's, my main challenge is finding a place, and now that I have a potential place, getting reliable and accurate estimates.

Here are couple of useful links:
http://coinatmradar.com/blog/bitcoin-atm-profitability-part-2-real-examples/
http://coinatmradar.com/blog/how-to-start-a-bitcoin-atm-business/

Why thank you, I partially read each of those so far and they seem to contain some very helpful information. I have to go out now, but will definitely continue reading this weekend.

CoinATMRadar

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Quote from: DebitMe on December 04, 2015, 10:06:07 AM

There is very little information about ATM's available. I have been trying to reach out and compile information to get a business plan together to open 3 test units in the Kansas City area and grow from there, but people aren't very willing to open up about sales and profit information, which makes it very hard to put any kind of reliable forecasts together.

I would love to open up some ATM's, my main challenge is finding a place, and now that I have a potential place, getting reliable and accurate estimates.

Here are couple of useful links:
http://coinatmradar.com/blog/bitcoin-atm-profitability-part-2-real-examples/
http://coinatmradar.com/blog/how-to-start-a-bitcoin-atm-business/

HarryKPeters

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Either the initial investments or the regulations are the sole reason investors and merchants decide not to invest in this machines.

I wanted to buy one but when being longer in the game, seeing the volatiliy, i decided to hold off.

There are too many factors to consider which makes it too risky for me.

harizen

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Quote from: Rubberduckie on December 03, 2015, 04:58:46 AM

I really thought this time last year that we would have a lot more
bitcoin ATM machines. There is so many people on localbitcoin especailly
in certain areas. I just really thought I would see more in heavily populated
areas. Why do you guys think there isn't many out there still? I know the one
I saw in California had ridiculous fee's but I think people still used it a lot.

Others exchanges like here in our country, preferred to do withdrawing with a use of third party method (banks, money transfer, network money services etc) rather than a direct one like Bitcoin ATM. Here bitcoin is not regulated so why bother to build a Bitcoin ATM.

*this case only applied in our country.

tiggytomb

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I was thinking the same thing, once I heard about them being installed in a few places I imagined a time when a lot of cities would have a bitcoin ATM. Where I am in EU there is only 1 accessible to me and it only a one way machine so you are able to purchase but not withdraw into Fiat.

One of the main reasons I think that we do not find ourselves with an ATM in every city is down to the cost of the machine and I would imagine ongoing cost to maintain it, bitcoin has not taken off as quickly as a lot of people assumed it would so to host an ATM for the occasional visitor just doesn't make much sense.

There are also other ways available to the public to buy and sell their bitcoin, localbitcoins being one but there are also other service such as Coinbase and the like so for now I think we will need to wait until bitcoin becomes the best it is intended to be before we see an ATM in every city.

DebitMe

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There is very little information about ATM's available. I have been trying to reach out and compile information to get a business plan together to open 3 test units in the Kansas City area and grow from there, but people aren't very willing to open up about sales and profit information, which makes it very hard to put any kind of reliable forecasts together.

I would love to open up some ATM's, my main challenge is finding a place, and now that I have a potential place, getting reliable and accurate estimates.

ShrykeZ

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It requires a lot of upkeep and based on how high the fees are for the majority of currently available ATMs they do not get used that often so isn't a highly profitable investment.

AncilVTwo

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Quote from: Rubberduckie on December 03, 2015, 04:58:46 AM

I really thought this time last year that we would have a lot more
bitcoin ATM machines. There is so many people on localbitcoin especailly
in certain areas. I just really thought I would see more in heavily populated
areas. Why do you guys think there isn't many out there still? I know the one
I saw in California had ridiculous fee's but I think people still used it a lot.

i think it might be because it would take alot of money to build and place one, and keep it regularly maintained, while the income from it would be minimal.

Altynbekova

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Well because I this is kinda expensive to have some atm bitcoin.

Also they aren't a lot of people that use bitcoin or know bitcoin.

Mickeyb

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Quote from: Fidemoga on December 04, 2015, 04:25:31 AM

The cost of bitcoin ATM is still much higher than buying from exchanges directly. If you are frequent trader, it is better to buy directly.

Yes, but ATMs are not here for us experienced users. ATMs are here for the new people and they are also very cool and are great for promotion.

I think that costs of these ATMs will slowly decrease in the future. Then we will see more of them as well.

Topic: Why arnt we seeing more bitcoin ATM popping up? - page 7. (Read 7737 times)