Hi Friends,
I have shared this picture before, but what crazed crypto-zealot-dad wouldn’t be chuffed? Here’s Leon buying some fiat dollaz with some bitcoin from a two-way bitcoin ATM located in North Vancouver.
The above machine is an old Robocoin ATM, re-purposed with General Bytes software. It’s a long story, but about 4 months after the first ever bitcoin machine, ever, went live, me and a buddy put together a deal and bought the above machine.
Here’s the original story of the very first machine (just over 5 years ago) which, incidentally, is still operating at Waves, 900 Howe St.
https://www.cbc.ca/news/technology/world-s-first-bitcoin-atm-opens-in-vancouver-1.2286877
Anyway, yadda yadda yadda, our machine was almost a year late to be delivered and then we sent it directly to Japan, Robocoin then went tits up a couple months later and our ATM sat in a garage for 18 months, yadda yadda yadda, we got it back home to Van and it has now been working for about 20 months, and we are partnered in with the guy who now owns Bitcoiniacs. As well, the owner of Bitcoiniacs and myself also have a 1 way machine running out of one of my favourite bars in Vancouver — the Regal Beagle on West Broadway. Here’s that sweety-pie:
We’re selling Dash and Litecoin too 🤩👍👍
Anyway, as everybody knows, the cryptos have had their asses kicked for a year now — such losses, many wows! — and we even had an ATM robbed, so it has been both sweet and sour. However, i really believe in this technology and think that if left unmolested, it is one of the quickest ways out of ugly financial bondage, the likes of which people will have to endure who place their faith in the banks. Of course precious metals too, but that’s a little off topic... i wanted to share some good news. News that has provided some vindication for my mad belief, even if the price is still “down” from where it might be one day.
Here’s the article:
Well dang! 4,000+ ATMs worldwide, and spreading all the time. This is great news crypto friends! And perhaps not any kind of “tipping point,” but who knows? It is still, quite surprisingly, early days. Bitcoin just turned 10 years old and that first ATM was just over 5 years ago. So hodl onto your hats, and hold your bitcoin with tight hands, and if possible, maybe consider stacking more of that stuff. Discretion notwithstanding.
I am @thedamus and bitcoin is accepted here⤵️
Great Story/Post about your voyage. . . great pic of Leon. . .
I gotta say that I totally agree. I am so upset that 'life' is interrupting my plans, but that's how it goes.
I gonna continue hodl'ing and I continue with STEEM.
Steem On and Stack On partner.
🤩👍Cheers @goldkey! These are still the early days
Thank you for your continued support of SteemSilverGold
At some point it will pay off bro.
We’re getting there D. It sure has been exciting at times 😜
Do you all have CoinStar machines up there? There was a recent article that they would begin selling Bitcoin from their coin collecting machines. Interesting t see what they do and if that has any impact (positive or negative) on the existing ATM business.
My main concerns with the ATMs is the premium that is charged. I know the owner of the machine has to make their profit, but some of the prices I saw around Nashville when I went looking were ludicrous.
Hi 74, we do have coinstar machine’s up here but i haven’t seen one offering bitcoin yet...
Operators set there own fees so make sure you check out coinatmradar.com — if they don’t list fees they are high! 10% and up is common here in Van although we run at 5-6% which is best rates in town 😜👍👍
... and still 0 in Jamaica :(
Local adoption is extremely low but at least we should have kiosks at the airport to facilitate crypto-friendly tourists.
Well, with some cash in your pocket and some bitcoin on your phone, anybody is a mobile exchange — one of the besutiful things about being your own bank.
😎👍
I agree, only the cash in the pocket part is what we are trying to avoid. For example, a guest arrives and can continue to use their crypto at different venues and attractions without anyone needing fiat. In the case they do want to receive fiat, getting it from a person on the street isn't the safest thing.
We provide tips and directions to crypto friendly businesses in Jamaica at https://beachfrontcrypto.com/map and have quite a following.
Your right about the cash tx with strangers... happy to hear your spreading the word in Jamaica — there is yet many more bitcoin travel booms to come, so your work will be well appreciated i’m sure. Rock on! 🤙😎
I am surprised that in the tiny city I live, there are several Bitcoin machines. Me.... I seldom use my bank's ATM machine, have not used other ATM machines in ages, LOL! I wonder if in 2019 I will be accessing those Bitcoin machines. CHEERS, @thedamus!
O saver! That reminds me. Whenever you want a quick, failsafe, tutorial about how to start stacking crypto right on your phone you just let me know 😁👍
Just out of curiosity how does it work? It takes your bank card / fiat notes and spits out a crypto public and private key? Can it send to an existing address?
Plus, how do you make money? Is it in a transaction fee or on the exchange rate?
Buying bitcoin you just show the machine your wallet qr (preferably a smart phone but a print-out of qr works as well) and then stuff in cash and press “send.”
When selling bitcoin (to a two-way ATM, as above with Leon), you dial up the amount if cashbyou want, the machine provides a qr “address” to send to, you send to address and wait for 1 block to solve usually <10 mins. Then either show the machine the slip it printed, or input the code that gets sent via sms (depending on operating system) and BOOM! The machine soits out fiat dollars. Note: these machines do not run via a bank, nor do they accept bank cards. It’s cash only.
🤩👍
And yes. Tx fee and exchange rate is where the business comes in.
Wouldn't accepting a debit card or something be more useful? Personally, I don't carry much cash, and I'm assuming you can't drop silver or gold into it!
... is it because of the additional overhead that a banking link would incur?
Banks loathe bitcoin. They would never accept the partnership. Cash is the medium between these two currency types.
I wish I knew that when I was in Vancouver!!
Come on back to Van 😁 big burgers and bitcoin!
O, and check this out, it’s a dbl cheeseburger with Kimchi and a fried egg on it — delicious!
I'll definitely gonna go back there in the summer!! ;)
Kimchi burgerrrr! Looks absolutely amazing!
I'll add on my list ;) Thanks!
Such a sweet photo and a cool story! So are you in the Vancouver area then? I live just right across the border in Bellingham. 😊
Hi cc, yep, right over the line 😁👍
I still may buy one of these. I have a couple great location, the cash for the machine itself, just don't know about the rest. I'm still trying to contact some of the ATM owners down state about it.
It’s a lot of bs but exciting as hell when it’s working right 😁👍
@thedamus I like when you do the Crypto Posts too................
Cheers stok, Nice hooter! 😜😁🤣
Wow I am great to see such a great opportunity from Bitcoin but unfortunately there is no such amazing service in my country Pakistan but thanks @thedamus for this wonderful post.
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Cheers aj! Thx for saying hi. Hopefully bitcoin ATMs come to your country soon. 🤩👍
I hope so
That seems like a good investment, buying a Bitcoin ATM. I think we'll eventually reach at least 1/8 as many crypto ATMs worldwide as regular ATMs, but it will take time.
I think that may be an overestimate — there are millions of reg ATMs — but i dig your enthusiasm!!! 😁👍👍
Great update. Glad you put it in a bag so it is in everyone's face.
Gonna go see if there's one around Toronto..
Great effort we need this in the UK! Crypto has not taken off here we need a big push. Great to see the options are there 💯🐒