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(Reuters)   First U.S. bitcoin ATMs are now a virtual reality   (reuters.com) divider line 25
    More: Spiffy, cash machines, Seattle, digital currency  
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519 clicks; posted to Business » on 19 Feb 2014 at 10:04 AM (20 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



25 Comments   (+0 »)
   
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ZAZ [TotalFark]
2014-02-19 08:54:16 AM
How many surveillance cameras do you think DEA has watching them?
 
2014-02-19 09:16:52 AM
Meh.  Call me when they have Dogecoin ATMs.  They're so wow.
 
2014-02-19 09:53:30 AM
I wonder if I can convert Iraqi Dinar to Bitcoin.
 
2014-02-19 10:07:08 AM
Hope that ATM isnt running XP...
 
2014-02-19 10:10:36 AM
Considering Canada has had a couple up and running for a short while already I'm surprised the US didn't have any as of yet.
 
2014-02-19 10:14:33 AM
The bitcoin world lately really looks like a microcosm of historical commodity based money.    Theft, scamming, bank runs, bank failures, price crashes, price inflation, extortion . . .

And just like a gold rush, the real money is in being a middle man.
 
2014-02-19 10:19:05 AM
What's the appeal?  If I want to buy drugs, I can use regular U.S. cash and they're just as untraceable.
 
2014-02-19 10:45:48 AM
I don't see how this could possibly be worth the capital investment.  After the initial novelty wears off, who is going to use this?
 
2014-02-19 10:47:06 AM

tricycleracer: What's the appeal?  If I want to buy drugs, I can use regular U.S. cash and they're just as untraceable.


Only of you write your name on the cash before handing it to the dealer.
 
2014-02-19 10:56:40 AM
Considering the recent, heh, issues with the "CURRENCY OF THE FUTURE" I'm not surprised.
 
2014-02-19 11:18:44 AM
I still don't understand the appeal of trading real money for fake money.  This is why you people are poor.
 
2014-02-19 11:37:46 AM

m1ke: I still don't understand the appeal of trading real money for fake money.  This is why you people are poor.


Because someone might give you more real money in exchange for your fake money sometime in the future.
 
2014-02-19 12:13:22 PM
Bitcoin seems like the most blatantly obvious example of tulip mania I have seen in my lifetime.

I may be missing an opportunity but I expect it to collapse hard as the "bigger idiot" theory of investing reaches its inevitable conclusion.
if I'm wrong I still won't regret not buying them, if I was bothered by missed opportunities I would be a very unhappy investor. No matter how well my portfolio performs there will always be endless examples of things appreciating wildly that I never bought.
 
2014-02-19 12:35:26 PM

m1ke: I still don't understand the appeal of trading real money for fake money.  This is why you people are poor.


inorite?  Why trade bitcoins for dollars?
 
2014-02-19 01:26:43 PM
I have 5 Dogecoins as of last night. I think the only thing I can use them for is to tip people via Twitter in Reddit.
 
2014-02-19 01:27:39 PM
NuclearPenguins: I have 5 Dogecoins as of last night. I think the only thing I can use them for is to tip people via Twitter in or Reddit.

FTFM
 
2014-02-19 01:43:27 PM
What the fark is a bitcoin, no seriously, what is it?
 
2014-02-19 03:51:07 PM

weirdneighbour: What the fark is a bitcoin, no seriously, what is it?


A bitcoin is neither a bit nor a coin.

//Discuss amongst yourselves.
 
2014-02-19 04:45:23 PM

weirdneighbour: What the fark is a bitcoin, no seriously, what is it?


Short version - an alternative currency backed by cryptographic algorithms running on a globally-distributed computational network.

Cynical version - Dutch tulip bulbs for the digital age

Long version - link.
 
2014-02-19 05:05:58 PM
Bitcoin is doomed to fail by design.

Eventually the limit on the number of bitcoins will be reached, and then deflation of the currency will set in.  If people seriously start using it, the prices denominated in bitcoin  will drop and will continue to drop faster and faster.

Eventually the  whole thing will collapse.  Be warned, people.  You can't have a currency without a healthy amount of inflation, and this is a   major flaw that the creators were clearly not aware of.  It's a nice concept, but they farked it up because they weren't exactly economics majors.
 
2014-02-19 05:37:48 PM
Like everything related to bitcoin, this will either be a scam, or it will be scammed.

Probably someone will tap into this machine's connection to the internet and steal everyone's bitcoins or money or both.
 
2014-02-19 08:40:46 PM
static1.businessinsider.com
 
2014-02-20 12:59:37 AM
I guess the machine I saw in Vegas last year that sold gold, silver, and Bitcoin doesn't count as an ATM.
 
2014-02-20 01:13:31 AM

BStorm: I guess the machine I saw in Vegas last year that sold gold, silver, and Bitcoin doesn't count as an ATM.


One distinction is that the Robocoin machines will also let you transfer your bitcoins into the ATM and withdraw cash. The ones which only do cash-to-BTC are more of a vending machine than an ATM.
 
2014-02-20 01:26:34 AM
austin is getting one of these at the handlebar
 
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