First US Bitcoin ATMs Coming to Seattle and Austin
First US Bitcoin ATMs Coming to Seattle and Austin
by The Dharma Bum » Tue Feb 18, 2014 9:16 am
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Re: First US Bitcoin ATMs Coming to Seattle and Austin
by Bauce » Tue Feb 18, 2014 9:17 am
What would you do at a bitcoin ATM? Bitcoins aren't physical objects are they? What would these ATMs dispense.
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Re: First US Bitcoin ATMs Coming to Seattle and Austin
by The Dharma Bum » Tue Feb 18, 2014 9:33 am
They load bitcoins into your wallet on your mobile device. There are all kinds of wallet apps available.
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Re: First US Bitcoin ATMs Coming to Seattle and Austin
by Bauce » Tue Feb 18, 2014 9:36 am
Why do you need to connect to a physical hub though? If it's all digital can't you just do it on your mobile device without an ATM?
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Re: First US Bitcoin ATMs Coming to Seattle and Austin
by Dylan » Tue Feb 18, 2014 9:52 am
ATMs are part of the lifestyle of the investor class.
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Re: First US Bitcoin ATMs Coming to Seattle and Austin
by The Dharma Bum » Tue Feb 18, 2014 9:59 am
It's like an automated local exchange, basically
Now there are two ways to get coins. You have to either get bitcoins through a service like coinbase, which requires a 2 week long KYC/AMC verification process. Or you can buy them from individuals at a local exchange and meet to exchange the cash for the coins and do the transfer through an escrow service.
This ATM eliminates that.
Currently the interface between fiat currency and digital currency economies is rather rough to navigate due to onerous US monetary regulations. This makes it a lot easier for people who are new to digital currencies to get involved.
Now there are two ways to get coins. You have to either get bitcoins through a service like coinbase, which requires a 2 week long KYC/AMC verification process. Or you can buy them from individuals at a local exchange and meet to exchange the cash for the coins and do the transfer through an escrow service.
This ATM eliminates that.
Currently the interface between fiat currency and digital currency economies is rather rough to navigate due to onerous US monetary regulations. This makes it a lot easier for people who are new to digital currencies to get involved.
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Re: First US Bitcoin ATMs Coming to Seattle and Austin
by The Dharma Bum » Tue Feb 18, 2014 10:01 am
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Re: First US Bitcoin ATMs Coming to Seattle and Austin
by The Comrade » Tue Feb 18, 2014 10:44 am
This seems like teeth on an asshole
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