Bitcoin ATM Founder: We Already Have Orders From 30+ Countries - GoFuckYourself.com

Dirty F · 04-02-2013, 08:39 AM

Last week, we questioned the legitimacy of a story that a company planned to install a Bitcoin ATM in Cyprus.

Jeff Berwick, the man behind The Dollar Vigilante and founder of StockHouse.com, had posted an announcement saying the following:

I have decided to move forward with what I believe could be the next multi-billion dollar business venture: Bitcoin ATM....It is wholly our intention at Bitcoin ATM to put the company in the right position to open its very first ATM in Cyprus. If we did this now, and we are moving quickly to make this so, we would be the only functioning ATM on the island.

We tried for two days to get in touch with someone at The Dollar Vigilante, to no avail.

But Berwick has now responded via email to our contentions.

Here is his response in full, as he framed it, with his cuts from our original story in quotes:

BUSINESS INSIDER ? ?The project premise is based on the notion that Cyprus' banking sector would cease to function and that a Bitcoin ATM would save the day. And yet the Cyprus banking system is functioning again, and ATMs have been functioning the whole time.?

JEFF BERWICK ? This is not the project?s premise. The history is we bought the original ATM machine which has been being developed by a young man for the last two years a few months ago. It could only accept cash and not dispense cash, though, so we developed it to the point that it is now a fully bi-directional ATM (btc-cash and cash-btc). We finished that and had our first working model ready and we wanted to announce it was ready and we wanted to announce where we would put the first one. We looked around the world and just decided Cyprus made a lot of sense since the banking system has been all but shutdown for the last two weeks. We now have orders for 300+ machines in 30+ countries and are moving quickly to handle the demand.

Read more: http://www.businessinsider.com/cypru...#ixzz2PJyWFc5d

pimpmaster9000 · 04-02-2013, 09:38 AM

Quote:

Originally Posted by Dirty F

I have decided to move forward with what I believe could be the next multi-billion dollar business venture: Bitcoin ATM....

money laundering ATM-s for basically online criminals

oh god....

dyna mo · 04-02-2013, 09:42 AM

With numerous financial companies already exchanging bitcoins into any of the world?s currencies, ...it is estimated that Bitcoin could capture between 1 and 10 percent of the global foreign exchange market. This implies that the price of each and every bitcoin would rise to between $100,000 and $1 million

CaptainHowdy · 04-02-2013, 09:50 AM

mayabong · 04-02-2013, 09:57 AM

Here is the guy on CNBC Today

http://video.cnbc.com/gallery/?play=1&video=3000157766

Dirty F · 04-02-2013, 09:59 AM

Quote:

Originally Posted by dyna mo

With numerous financial companies already exchanging bitcoins into any of the world?s currencies, ...it is estimated that Bitcoin could capture between 1 and 10 percent of the global foreign exchange market. This implies that the price of each and every bitcoin would rise to between $100,000 and $1 million

dyna mo · 04-02-2013, 10:05 AM

it's staggering to think of btc in terms of the entire amount of all currencies being transacted right now. just capturing a fraction of a percentage of that translates to a high value per btc.

BareBacked · 04-02-2013, 12:49 PM

Quote:

Originally Posted by dyna mo

With numerous financial companies already exchanging bitcoins into any of the world?s currencies, ...it is estimated that Bitcoin could capture between 1 and 10 percent of the global foreign exchange market. This implies that the price of each and every bitcoin would rise to between $100,000 and $1 million

I can see it now. This is going to be the next thing I know about and do not get into .
I will be able to post saying I remember when they were only $100
now they are worth $100k

Ringo · 04-02-2013, 01:42 PM

too long didn't read

pornmasta · 04-02-2013, 01:46 PM

CAHEK · 04-02-2013, 01:56 PM

Quote:

Originally Posted by Dirty F

Unplug the internet and we unplug your wealth...

DWB · 04-02-2013, 02:06 PM

Quote:

Originally Posted by dyna mo

This implies that the price of each and every bitcoin would rise to between $100,000 and $1 million

That would be beyond incredible. Wake up one day to find your 100 bitcoins are worth $100 million dollars.

Even after you cashed out and the government took their cut for taxes, you're still filthy rich.

Vapid - BANNED FOR LIFE · 04-02-2013, 02:08 PM

Quote:

Originally Posted by CAHEK

Unplug the internet and we unplug your wealth...

No not really, there is other types of communication networks.

Vapid - BANNED FOR LIFE · 04-02-2013, 02:09 PM

Quote:

Originally Posted by DWB

That would be beyond incredible. Wake up one day to find your 100 bitcoins are worth $100 million dollars.

Even after you cashed out and the government took their cut for taxes, you're still filthy rich.

It is exactly what is going to happen.

0.00000001 BTC will be $0.01

By design.

O MARINA · 04-02-2013, 02:16 PM

Quote:

Originally Posted by buildyourwebsite

too long didn't read

+1

DWB · 04-02-2013, 03:58 PM

Quote:

Originally Posted by Monotony

It is exactly what is going to happen.

0.00000001 BTC will be $0.01

By design.

I highly doubt it, but I hope it does. I love stories of people getting super rich for doing nothing other than doing something at the right time.

Vapid - BANNED FOR LIFE · 04-02-2013, 04:22 PM

Quote:

Originally Posted by DWB

I highly doubt it, but I hope it does. I love stories of people getting super rich for doing nothing other than doing something at the right time.

I wouldn't underestimate this return to innocence.
The love of money comes from the countless benefits.
Not it being a sodomite.

pornguy · 04-02-2013, 04:32 PM

For some reason I dont see this happening.

crockett · 04-02-2013, 10:04 PM

NiXXiN · 04-02-2013, 10:19 PM

Dirty F · 04-02-2013, 10:25 PM

Quote:

Originally Posted by NiXXiN

Haha that is awesome!

Markonline · 04-03-2013, 08:20 AM

Quote:

Originally Posted by crucifissio

money laundering ATM-s for basically online criminals

oh god....

Yep, having ATM's on the streets is a pretty sure fire way of handing government/s some form of method of bring them under their regulatory control/s.

That's what killed an anonymous card company which was set up by a Dutch guy in Latvia back in the 90's. He was in an office by mine.
People were throwing money at them like it was a dream come true.
As it turned out it wasn't ........

Even Parex Bank (then Russian owned) disowned them and closed their a/c's or risk being cut out by fiscal world.

(But not before the owners has disappeared along with all the 'investors' millions of $ to some offshore haven

)

Only with bitcoin some bank group likely just buys it out and buries it .........

Fuck dreams; your first profit is usually your best......

idolbucks · 04-03-2013, 08:42 AM

Quote:

Originally Posted by NiXXiN

04-02-2013, 08:39 AM	#1
Dirty F Too lazy to set a custom title Industry Role: Join Date: Jul 2001 Posts: 59,204	Bitcoin ATM Founder: We Already Have Orders From 30+ Countries Last week, we questioned the legitimacy of a story that a company planned to install a Bitcoin ATM in Cyprus. Jeff Berwick, the man behind The Dollar Vigilante and founder of StockHouse.com, had posted an announcement saying the following: I have decided to move forward with what I believe could be the next multi-billion dollar business venture: Bitcoin ATM....It is wholly our intention at Bitcoin ATM to put the company in the right position to open its very first ATM in Cyprus. If we did this now, and we are moving quickly to make this so, we would be the only functioning ATM on the island. We tried for two days to get in touch with someone at The Dollar Vigilante, to no avail. But Berwick has now responded via email to our contentions. Here is his response in full, as he framed it, with his cuts from our original story in quotes: BUSINESS INSIDER ? ?The project premise is based on the notion that Cyprus' banking sector would cease to function and that a Bitcoin ATM would save the day. And yet the Cyprus banking system is functioning again, and ATMs have been functioning the whole time.? JEFF BERWICK ? This is not the project?s premise. The history is we bought the original ATM machine which has been being developed by a young man for the last two years a few months ago. It could only accept cash and not dispense cash, though, so we developed it to the point that it is now a fully bi-directional ATM (btc-cash and cash-btc). We finished that and had our first working model ready and we wanted to announce it was ready and we wanted to announce where we would put the first one. We looked around the world and just decided Cyprus made a lot of sense since the banking system has been all but shutdown for the last two weeks. We now have orders for 300+ machines in 30+ countries and are moving quickly to handle the demand. Read more: http://www.businessinsider.com/cypru...#ixzz2PJyWFc5d

04-02-2013, 09:50 AM	#4
CaptainHowdy Too lazy to set a custom title Industry Role: Join Date: Dec 2004 Location: Happy in the dark. Posts: 93,009	__________________ FLASH SALE INSANITY! deal with a 100% Trusted Seller Buy Traffic Spots on a High-Quality Network 1 Year or Lifetime — That’s Right, Until the Internet Explodes!

04-02-2013, 09:57 AM	#5
mayabong Confirmed User Join Date: Jan 2010 Posts: 1,952	Here is the guy on CNBC Today http://video.cnbc.com/gallery/?play=1&video=3000157766 __________________ Bitcoin Gambling Sites

04-02-2013, 04:32 PM	#18
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,912	For some reason I dont see this happening. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

04-02-2013, 10:19 PM	#20
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04-02-2013, 09:42 AM	#3
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 63,914	With numerous financial companies already exchanging bitcoins into any of the world?s currencies, ...it is estimated that Bitcoin could capture between 1 and 10 percent of the global foreign exchange market. This implies that the price of each and every bitcoin would rise to between $100,000 and $1 million

04-02-2013, 10:05 AM	#7
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 63,914	it's staggering to think of btc in terms of the entire amount of all currencies being transacted right now. just capturing a fraction of a percentage of that translates to a high value per btc.

04-02-2013, 01:42 PM	#9
Ringo Confirmed User Industry Role: Join Date: Nov 2012 Posts: 431	too long didn't read

04-02-2013, 01:46 PM	#10
pornmasta Too lazy to set a custom title Join Date: Jun 2006 Posts: 18,955

04-02-2013, 10:04 PM	#19
crockett in a van by the river Industry Role: Join Date: May 2003 Posts: 76,806