Would you normally trust a Bitcoin ATM?

RodeoX

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Quote from: Flashman on December 10, 2014, 09:30:19 AM

Quote from: Elwar on December 10, 2014, 09:02:48 AM

Where is the risk in getting bitcoins?

You get the bitcoins...they can't be taken back.

Getting the bitcoins is the preferred outcome, however, there's a bit in the middle there where machine has your cash, and you have not got the bitcoins.

Oh I see. Well, in that case i would take a hammer to the machine and make it a very costly scam. Wink

BitCoinNutJob

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yes i would trust them with smaller amounts, just watch out for camera snapping your private keys or something, cover everything just like a pin.

Flashman

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Quote from: ?? on ??

I am also guessing that confirmations might be an issue, if you are selling BTC(in the bidirectional ones), which might lead to waiting in lines.

I believe some of them print you a machine readable receipt and tell you to come back in 20 mins or so.

bitcoinmind

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Quote from: ?? on ??

It's hard to trust Bitcoin ATM for me
Expect i can buy bitcoin with paper money and no camera nearby ATM

And not asking any personal information
Otherwise, i won't use bitcoin ATM

Do you think you'll ever have the BTC on paper?

jsgayo

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I have no experience Bitcoin ATM use and would like to try.

randy8777

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it depends on what kind of atm. i have read about atms that need to scan documents and such. these i will never trust. depends on the verification, really.

countryfree

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Quote from: newflesh on December 11, 2014, 06:44:39 AM

Yeah I'd trust a btc ATM, you've got nothing to worry about unless.....

Good pic. I guess I would not use a BTC ATM straight away after seeing it. I'll wait a while till I see some other people using it successfully.

thejaytiesto

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Well if you watch that video, you can see you risk not having your bitcoins delivered on time and being stuck on there, that would be hell. It definitely needs a lot of improvement and a better more anonymous and instant service.

caga

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Quote from: allthingsluxury on December 11, 2014, 10:10:00 AM

Quote from: Flashman on December 10, 2014, 09:30:19 AM

Quote from: Elwar on December 10, 2014, 09:02:48 AM

Where is the risk in getting bitcoins?

You get the bitcoins...they can't be taken back.

Getting the bitcoins is the preferred outcome, however, there's a bit in the middle there where machine has your cash, and you have not got the bitcoins.

Yah this is a risk you have to take, although you'll know if you were ripped off almost immediately and then could deal with. I doubt someone would want to put their expensive machine in that dangerous situation.

The cheapest bitcoin atm cost around 300-500$, and maybe if the owner gets a request for more, he could possibly keep your cash Tongue

JK, I don't think they will do this, there can be legal issues and their reputation would be at stake.

allthingsluxury

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Quote from: Flashman on December 10, 2014, 09:30:19 AM

Quote from: Elwar on December 10, 2014, 09:02:48 AM

Where is the risk in getting bitcoins?

You get the bitcoins...they can't be taken back.

Getting the bitcoins is the preferred outcome, however, there's a bit in the middle there where machine has your cash, and you have not got the bitcoins.

Yah this is a risk you have to take, although you'll know if you were ripped off almost immediately and then could deal with. I doubt someone would want to put their expensive machine in that dangerous situation.

Notanon

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I'd probably use $20 for an ATM I've never used before, and then go up from there once I've established it is trustworthy. Probably never more than $100 at a time, though.

SirChiko

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I trust BTC ATMs but only the established ones now the new companies till they aren't on market long enought time.

newflesh

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Yeah I'd trust a btc ATM, you've got nothing to worry about unless.....

thejaytiesto

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Quote from: bornil267645 on December 11, 2014, 01:22:01 AM

Why not, haven't heard of any occurrence so far.

Well, this was pretty embarrassing:

https://www.youtube.com/watch?v=vnm4xFC2xNo

Never cashed out and dont plan to, but i hope ATM is working by then.

bornil267645

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AltoCenter.com

Why not, haven't heard of any occurrence so far.

LordSonjai

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Quote from: cbeast on December 10, 2014, 08:53:38 PM

Quote from: LordSonjai on December 10, 2014, 08:37:41 PM

Elaborate because i don't understand what is so silly about my comment.

Because nobody uses ATMs for trading. Your comment made no sense at all. In fairness to you, please elaborate how an ATM can affect trading?

What the fuck are you talking about?when did I say anything about a ATM affecting trading,I clearly used the wrong terminology for my intention and you misconstrued and blew my comment out of proportion like a stupid motherfucker. Obviously ATMS aren't for trading dumbass. What I meant by trading was exchanging real currency for bitcoin,is that not a trade? I wish I could slap the fuck out of you.

exoton

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Quote from: MicroGuy on December 10, 2014, 09:19:00 PM

Quote from: IceFire on December 10, 2014, 08:24:26 AM

I am wondering this myself. Is it a good idea to buy Bitcoins over a dedicated ATM?

Minimal risk as you are dealing with a machine and a physical location.

Just because it is a machine, does not mean the owner has not programmed it to scam users. For example, if the machine had the ability to buy bitcoin from someone, it could have the seller send bitcoin to a specific address and then never disburse any kind of cash.

MicroGuy

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