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HotStockMarket › Groups › Bitcoin Message Board - The Digital Currency › Discussions › Bitcoin ATM has arrived

Bitcoin ATM has arrived

post #1 of 7
Thread Starter 

Pretty smart:

 

http://news.cnet.com/8301-13578_3-57570925-38/need-bitcoins-this-atm-takes-dollars-and-funds-your-account/

 

 

Need Bitcoins? This ATM takes dollars and funds your account

New Hampshire entrepreneurs have created a dollar-converting anonymous Bitcoin ATM, which they hope to sell to bars, restaurants, and other retail locations nationwide.

 

Zach Harvey, right, and Matt Whitlock created this ATM that accepts dollar bills and converts it to the alternative Bitcoin currency.

Zach Harvey, right, and Matt Whitlock created this ATM that accepts dollar bills and instantly converts them to the alternative Bitcoin currency.

 

(Credit: Declan McCullagh/CNET)

 

NASHUA, N.H. -- Zach Harvey has an ambitious plan to accelerate adoption of the Internet's favorite alternative currency: installing in thousands of bars, restaurants, and grocery stores ATMs that will let you buy Bitcoins anonymously.

 

It's the opposite of a traditional automated teller that dispenses currency. Instead, these Bitcoin ATMs will accept dollar bills -- using the same validation mechanism as vending machines -- and instantly convert the amount to Bitcoins and deposit the result in your account.

post #2 of 7

the new Bill Gates ....or...Steve Jobs?....nah

post #3 of 7
Thread Starter 

Not even close, but an interesting innovation.

post #4 of 7

I am starting to think they may actually have something here with this bitcoin stuff. It may be the new world order of money.

post #5 of 7
Thread Starter 

New world order?

 

Exactly the opposite, this is the currency of anybody that is against any kind of centralized organization.

 

Its a great idea, but my concern is that if/when it gets big enough, some government agency will step in and make a big mess.

post #6 of 7

This will continue to grow until the government either finds a way for them to make more money from it or they shut it down. 

post #7 of 7
Thread Starter 

Shutting it down is near impossible, like shutting down file sharing.

 

The best that regulatory agencies have managed is to make it tough to change dollars into bitcoin and back.

 

This machine seems to do that, so if or when the regulations come, this type of machine is first to go.

HotStockMarket › Groups › Bitcoin Message Board - The Digital Currency › Discussions › Bitcoin ATM has arrived