11 Oct '13, 3pm

What An ATM Could Mean For The Bitcoin Community

Choosing to use Bitcoin has always been about valuing privacy, innovation or deregulation over the convenience of fiat currency. But with the arrival of Bitcoin ATMs, users may no longer have to sacrifice one advantage over the others. The Lamassu Bitcoin ATM claims to convert currency into Bitcoin in seconds. Lamassu, Inc.’s video demo shows CEO Zach Harvey turning cash into Bitcoin by scanning his Bitcoin wallet QR code and then feeding bills into the machine. The machine transfers the money digitally. Since the machine doesn’t have a way to spit bills out, the process is not reversible. “We designed our machine to be usable by anyone and lower the barrier of entry for those who are simply curious about Bitcoin,” said Harvey. Priced at $5,000, Lamassu’s ATM is not a financially solid investment for individuals. But the prevalence of such machines could significantly impr...

Full article: http://readwrite.com/2013/10/11/what-an-atm-could-mean-fo...

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Written by slezica and eordano © 2013 Tips @ 1Ksy5mTDsFVaXh9u63hLg9na5frW2veV7b

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