Post
Topic
Board Bitcoin Discussion
Re: Bitcoin ATM (Automatic Teller Machine), with USB slot.
by
Trader Steve
on 18/08/2011, 22:45:56 UTC
The only reason you'd need an ATM is to provide physical bills - this is why ATMs exist today.  With the advent of extremely cheap smartphones and near-ubiquitous 3G/EDGE connectivity, there is really zero market for such a thing.

By the time you'd built them, got the contracts in place, and put them in the market, they'd be obsolete money-sinks.

I'm not so sure. One of the big challenges today is the time and hassle required to get money into an exchange before one is able to buy BTC. This brings the exchange to you - so to speak. With that said, ExchangeBitcoins.com's (http://www.exchb.com) recent announcement that they now accept cash and check deposits at 50,000 bank locations certainly helps too. And, yes, what will make the ATM's even more desirable will be when they can actually buy your BTC from you and give you cash on the spot. Until that happens, I think there will be a strong market for local buyers of BTC who can give you cash minus their transaction fee.