Tuesday, March 26, 2013

WORLD'S FIRST BITCOIN ATM IS ANNOUNCED - FIRST LOCATION: CYPRUS


Link here at "The Dollar Vigilante" dot com:  'Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks' ...  (I guess if you thought that the "bond vigilantes" weren't enough!)

Looks like a pitch for "your chance to get in on the ground floor" type of thing... this is BY NO MEANS an endorsement.  Provided FYI for academic purposes only.

5 comments:

Dan Kervick said...

For a group of people who supposedly have a grand dream of saving the world with some kind of state-free and corporation-free people's currency, the Bitcoiners have a remarkable addiction to describing the functioning of their system in the kind of techie-speak that only an IT cubical denizen could love.

Matt Franko said...

This is wild Dan, it looks like they may be able to take advantage of the current imo policy errors being made in Europe and perhaps sell some ATMs....

This guy writes: " Bitcoin “could have a negative impact on the reputation of central banks,” particularly if the public perceives Bitcoin’s value is due to “a central bank not doing its job properly.” ..."

Hard to argue against this whole thing in light of the way the Cyprus precedent is currently looking....

I think eventually the govt is going to shut this whole BITCOIN thing down in any case; no way to easily audit it or track it...

rsp,

Tom Hickey said...

Transactions in Bitcoin are peanuts, and the hard ceiling on Bitcoins is fixed at 21 million in 2040. Bitcoin is never going to be a major player due to its limited size. It's the testing of a concept.

Matt Franko said...

Tom,
Imo the Fed should be looking at this IT for the real system .... rsp

Anonymous said...

I agree with Tom, that's why i think It even has some value, a collectors item kind of.