[ACoochy]

Because NOBODY can stop progress boys and if it aint bitcoin then it will be something else...

http://news.cnet.com/8301-17938_105-...atm-next-week/

Canada to get world's first Bitcoin ATM next week
A Vancouver coffee shop will see the first of five ATMs expected in major Canadian cities

Bitcoin fans, prepare your passports. If you want to be among the first to use a Bitcoin ATM, head to Canada.

What's being billed as the world's first Bitcoin ATM is set to enter service next week in Vancouver, according to local operator and broker Bitcoiniacs and Nevada-based manufacturer Robocoin.

The $18,500 ATM will debut in downtown coffee shop Waves as the first of five Bitcoin machines that will be deployed across the country.

They'll trade the increasingly popular digital currency for Canadian dollars and vice versa, with a CAD $3,000 daily limit ($2,870) for each user.

The ATMs will use palm scans to identify users and enforce the limit, which is also designed to prevent problems with anti-money-laundering laws.

Users can deposit Canadian cash in the machines and it's then exchanged on Canada's VirtEx for Bitcoins. The corresponding credit is in recorded in the user's online Bitcoin wallet. Similarly, online Bitcoins can be used to purchase Canadian cash from the machines.

The four other ATMs are slated for launch in December, and may be deployed to Toronto, Montreal, Calgary, and Ottawa.

"Basically, it just makes it easier for people to buy and sell Bitcoins and hopefully will drive the adoption of Bitcoin, and make it more accessible for people," Bitcoiniacs co-founder Mitchell Demeter told CBC News.

The Waves shop on Howe Street already hosts CoinFest meetings of Bitcoin enthusiasts.

Robocoin CEO Jordan Kelley has cited U.S. regulations as a barrier to ATMs being set up south of the 49th parallel. A U.S. federal judge ruled in August that Bitcoins are "a currency or form of money" and subject to U.S. laws.

[ACoochy]

BBD, SamDiamond, ZZ10 and all the other crypto currency haters, check in...

[Russian Rocket]

unreal

[Dutch]

I have a hard time wrapping my mind around bitcoins and I'm usually on top of shit like this.

One thing I don't get is who is selling their bitcoins that I can just walk up to a machine and buy? Why would they sell them at all?

[ACoochy]

I have a hard time wrapping my mind around bitcoins and I'm usually on top of shit like this.

One thing I don't get is who is selling their bitcoins that I can just walk up to a machine and buy? Why would they sell them at all?

Users can deposit Canadian cash in the machines and it's then exchanged on Canada's VirtEx for Bitcoins. The corresponding credit is in recorded in the user's online Bitcoin wallet. Similarly, online Bitcoins can be used to purchase Canadian cash from the machines.

So basically its like traditional money that's traded to and from an exchange.

Thing is unlike traditional money the banks aren't able to 'leverage' 90% of your bitcoins and use them to trade and make money for themselves until your ready to withdrawal.

The fact this involves no central banking system is what primarily keeps me interested...

[chilidog]

kinda kills the anonymity of bitcoins though, doesn't it?

[ACoochy]

kinda kills the anonymity of bitcoins though, doesn't it?

It legitimizes it as not everyone who uses bitcoin uses it for reasons of anonymity or for illegal reasons.

But yes I have civil rights issues with the whole palm screening thing.

Why not just use a pin number like ppl do now but make it like 15 digits long?? Its still a unique identifier...

[chilidog]

It legitimizes it as not everyone who uses bitcoin uses it for reasons of anonymity or for illegal reasons.

But yes I have civil rights issues with the whole palm screening thing.

Why not just use a pin number like ppl do now but make it like 15 digits long?? Its still a unique identifier...

yah i agree w/ you. the thing i always liked about bitcoin was it's anonymity. i have nothing to hide, but i still like to cling to my privacy. i just don't believe that somebody needs to know everything i'm doing at all times, and that includes what i'm doing with my money.

[DoYouNotGetIT]

I cannot imagine Wall Street liking this with their currency market trading. Bitcoins will collapse if they get too popular, because the government will shut down illegal activity with bitcoins and expose their anonymity.

[bigboydan]

This is going to be nightmarish to say the very least. Then again just have another drink and see.

BTW, Wasn't there another BTC just a couple of days ago? I can only imagine this product with a Vegas connect... Internationally catastrophic. :

[Sarunas]

I make put my penis in machine? Sexual milks fforthwith canadian
dollars

[ACoochy]

I cannot imagine Wall Street liking this with their currency market trading. Bitcoins will collapse if they get too popular, because the government will shut down illegal activity with bitcoins and expose their anonymity.

Meh not worried about bitcoin crashing.

It already has a track record of being remarkedly resilient. If feds etc want to shut it down that will simply increase the price and make more underground types interested. Not sure what you mean by feds exposing anonymity of users.

Can understand that with traditional currency as it has set security settings whereas every proceeding bitcoin is exponentially more encrypted than the previous bitcoin produced...

Basically the feds would have to have mastered quantum cryptography already. Something they are far from doing as its human error that's bringing the bad guys down, not the code within the currency itself...

At least that's the pattern ive noticed with any country that's banned it already...

[ACoochy]

This is going to be nightmarish to say the very least. Then again just have another drink and see.

BTW, Wasn't there another BTC just a couple of days ago? I can only imagine this product with a Vegas connect... Internationally catastrophic. :

Isnt a 20 trillion dollar debt enough for you to realise that something isn't right with the way things are currently??

Unreal how utterly obedient you choose to be, even when its to the detriment of your longterm fiscal position...

Can only lead a horse to water...

[bigboydan]

Isnt a 20 trillion dollar debt enough for you to realise that something isn't right with the way things are currently??

Unreal how utterly obedient you choose to be, even when its to the detriment of your longterm fiscal position...

Can only lead a horse to water...

Anyway you wish to rationalize this the fact still remains its a complete crash and burn :

[ACoochy]

Anyway you wish to rationalize this the fact still remains its a complete crash and burn :

Just like the fiscal train we are all currently riding on...

Wonder how long one can simply 'defer' debt for??

[bigboydan]

Just like the fiscal train we are all currently riding on...

Wonder how long one can simply 'defer' debt for??

Their are many variables really because with this being a global type problem it would most likely effect SBObet and IBCbet in some type of fashion. :

[747planes]

palm scans...i wonder how many people will lose their hands to crooks.