26 Feb '13, 8pm

Alternative Currency Goes Mainstream As Bitcoin ATMs Emerge

NASHUA, N.H. — Zach Harvey has an ambitious plan to accelerate adoption of the Internet’s favorite alternative currency: installing in thousands of bars, restaurants, and grocery stores ATMs that will let you buy Bitcoins anonymously. It’s the opposite of a traditional automated teller that dispenses currency. Instead, these Bitcoin ATMs will accept dollar bills — using the same validation mechanism as vending machines — and instantly convert the amount to Bitcoins and deposit the result in your account. Harvey and Matt Whitlock are partners in a New Hampshire-based venture, Lamassu Bitcoin Advisors , that’s hoping to commercialize the ATM by selling to retail businesses, especially ones that also want to accept the decentralized alternative currency from customers. Unlike modern currency, which can be brought into existence at the whim of politicians or a central bank, le...

Full article: http://www.zerohedge.com/news/2013-02-26/alternative-curr...

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