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

money laundering ATM-s for basically online criminals :1orglaugh

oh god....

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

Here is the guy on CNBC Today

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

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.

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

too long didn't read

Unplug the internet and we unplug your wealth...

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.

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

It is exactly what is going to happen.

0.00000001 BTC will be $0.01

By design.

+1 :thumbsup

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.

For some reason I dont see this happening.

Haha that is awesome!

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 :Oh crap )

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

Fuck dreams; your first profit is usually your best...... :2 cents:

:upsidedow:upsidedow:upsidedow