Quote from: dave111223 on May 03, 2013, 02:13:13 AM

Quote from: Fiery Winds on May 03, 2013, 01:47:38 AM

Quote from: crazy_rabbit on May 02, 2013, 10:02:24 PM

Very interesting, although considering the special properties of bitcoin that make it very atm-unfriendly (having to wait for confirmations) I think maybe it would be appropriate to think 'outside the atm-box' for a solution. Waiting 10 minutes minimum around an ATM doesn't sound like it's going to exactly catch on.

That won't be necessary. The ATM machine knows immediately that it has cash. As long as the connection between the machine and the blockchain is secure, the user goes away knowing the transaction will go through, and the ATM owner needn't worry because he possesses the local currency. Any waiting period is irrelevant.

I would assume that crazy_rabbit it talking about when you put bitcoins in and take cash out.

Will the machine distribute cash immediately without any confirmations? If not then you'd need to stand guard at the ATM until your transaction got confirmed.

P.S. Can someone stick this video on youtube?

Which is why I added that caveat. It's a vulnerability, sure, but that's up to the ATM companies to sell us on their security.