Home » Technology

World’s First Bitcoin ATM Goes Online

Submitted by on October 31, 2013 – 10:06 am192 Comments
Share

Bitcoin, the world’s leading digital currency, took a big step towards legitimizing the whole field this week with its first ATM. The machine in a Vancouver coffee shop provides a rare link between physical currency and the online-only one, and plans are in the works for more.

Bitcoin was first proposed by an anonymous programmer in 2008, and went live in 2009. The currency is not regulated by any central authority or backed by any government. It is generated using cryptography to mimic the control of a central authority.

The digital money’s value shot to a high of $233 before dropping to $50. It reached another peak of $197 this month. They are accepted at a limited number of websites for goods and services- and now at Waves coffee shop.

The ATMs are made by Robocoin, a Las Vegas-based company that has built several, but not placed any others yet. Previously, Bitcoins could only be acquired and transferred online, in a sometimes lengthy process.

Users can use the machine to deposit cash for Bitcoins or withdraw any of 60 currencies- provided they scan their hand first. The palm scan is used to ensure that users do not go past daily limits, which would violate Canada’s anti-money laundering laws.

Some of the currency’s biggest draws are its anonymity and security, but this and resistance from major governments have made Bitcoin closely associated with online crime. When the FBI this month shutdown Silk Road, a site that allowed users to buy and sell drugs for Bitcoin, the bureau seized an estimate 1.5% of the world’s supply of the money.

The currency gained positive publicity recently when a man gained media attention for reportedly earning $886,000 by forgetting about the $27 of Bitcoin he bought years earlier. Kristoffer Koch of Norway says he bought the small sum of the new money in 2009, and forgot about it soon after. When he was reminded by recent media reports and checked his account, he cashed out just a quarter of his earnings to buy an apartment in a trendy part of Oslo.

[via Reuters]

 

Related Posts with Thumbnails

192 Comments »

  • Randolph says:

    Great web site, just lately been exploring forever for ideas on the
    best rattan furniture pieces for our home and in our back
    garden. This site really helpedgreat blog some great info here

    my website port royal sofa sets (Randolph)

  • The item took a bit, although it could still happen. 7, 356 website innings.
    Beautiful spring day,” she said, I only got one guy telling me about each and every golf putt within golf, and it compares favorably with the latest worldwide information on his back line.

  • Foam usually stands up to multiple blows without breaking easily, and is safer to hit
    with. The Dofus Cra can be a fun and exciting
    class which really deals out the damage, especially if you enjoy
    playing ranged. Unlike traditional bo forms, contemporary
    creative open forms with the bo involve more complex spins and even tosses.

    Feel free to visit my website :: okinawan kamas

  • If you are asking that, let me answer promptly by saying Yes, you can get your
    ex boyfriend back in your life. As our hearts and our sex
    soar together, we free ourselves to celebrate in Heavenly bliss while still in our bodies.
    The Turtles try to rescue them, but their lack of
    experience working together as a team proves their downfall.

    Feel free to visit my webpage; teenage mutant ninja turtles bo staff

  • Katja says:

    Do you mind if I quote a few of your posts as long
    as I provide credit and sources back to your blog?
    My website is in the exact same niche as yours and my users would
    truly benefit from some of the information you present here.
    Please let me know if this alright with you. Cheers!

    My web blog … natural cellulite reducer, Katja,

  • It’s got a grittier look than the first film and seems to hew closer to the comic book storyline than its predecessor.
    And finally, no bachelor party in Las Vegas would be complete without
    at least considering a visit to gentleman’s club.
    The real best way that you could do to them
    in return to their first-rate service is supplying immediately
    their fees.

  • Hello, I think your site might be having browser compatibility issues.

    When I look at your website in Firefox, it looks fine but when opening in Internet Explorer, it has some overlapping.
    I just wanted to give you a quick heads up!
    Other then that, amazing blog!

  • Hey there, You’ve done a fantastic job. I will definitely digg it and personally suggest to my friends.
    I am confident they will be benefited from this web site.

  • Près ma part, titulaire d’seul maîtrise de
    Lettres, passionnée de littérature, de poésie alors de linguistique,
    j’enseigne dès l’âge de 21 année. C’est au cours de ma 29e année lequel’apparaissent régulièrement les signe d’unique médiumnité lequel se fait supposé que flagrante,
    si envahissante au quotidien dont’elle deviendra unique activité publique deux ans plus tard,
    en 1983 par-dessous ceci discret pseudonyme “Natacha” quand
    proches après intimes me connaissaient
    sous-vêtement mien patronyme Françoise Desbouches ( dessous
    lequel cela Guide Placier m’honora de ses quatre étoiles
    en mai 2009 ).

  • Hi, its pleasant paragraph on the topic of medioa print, we all be
    familiar with media is a fantastic source of facts.

    My web site: top 10 vibration platform machines 2014

  • In exactly the same sense, business people would be wise to provide their workers something
    to unite under. An HVAC repair customers are most often started with a
    technician who has learned the trade through previous employment.

    ” Employees at Nike are encouraged to become curious and open to new ideas, whatever their source.

    my blog; benandmandy.blogspot.com

  • Het hunkeren naar kunnen heel intens en zijn zowel fysieke en psychologische.
    De cartridges houden het zijn wegwerp of navulbare,
    wel meest gebruiken wegwerp cartridges. De meeste van de ontwerpen worden geteeld genoeg voor iedereen te houden.

  • It’s hard to come by well-informed people about this subject, however, you seem like you know what you’re
    talking about! Thanks

  • Equivita says:

    Equivita…

    World’s First Bitcoin ATM Goes Online | DrJays.com Live | Fashion. Music. Lifestyle…

  • liz earle cleanse and polish…

    World’s First Bitcoin ATM Goes Online | DrJays.com Live | Fashion. Music. Lifestyle…

  • This piece of writing is genuinely a nice one it assists
    new net viewers, who are wishing in favor of blogging.

    Visit my website … best protein shake to build muscle

  • child support until what age…

    World’s First Bitcoin ATM Goes Online | DrJays.com Live | Fashion. Music. Lifestyle…

  • Amazing site tons of great steam shower info here

    Check out my web site; residential steam showers

  • two door locks…

    World’s First Bitcoin ATM Goes Online | DrJays.com Live | Fashion. Music. Lifestyle…

  • Car Dealers says:

    Hey there! I’m at work browsing your blog from my new apple iphone!

    Just wanted to say I love reading through your blog
    and look forward to all your posts! Keep up the fantastic work!

  • Awesome steam showers, we had a unit installed approximately 5 years
    ago but it could do with modernizing, would never
    buy a dull or boring old routine kind of shower ever again

    Take a look at my web-site; cheap steam showers

  • wonderful put up, very informative. I wonder why the opposite experts
    of this sector do not understand this. Yoou must proceed
    your writing. I aam sure, you have a huge readers’ base
    already!

    Visit my web site … best coffee machine 2014

  • Thanks for ones marvelous posting! I quite enjoyed reading it, you happen to be a
    great author. I will always bookmark your blog and will come back down the road.
    I want to encourage you continue your great writing, have
    a nice holiday weekend!

  • telecom CEO says:

    Despiye stil growing telecommunications in terms of options for at our fingertips.
    And, ffor example, a video communication device. Summary:
    Telecommunications ccompanies have ben divided into two types
    of carrier systems for small and large scale projects involve modifications or complete replacements of existing world communication infrastructures.

  • conversation says:

    conversation…

    World’s First Bitcoin ATM Goes Online | DrJays.com Live | Fashion. Music. Lifestyle…

  • Flambook.Com says:

    Hi there, its pleasant post about media print, we all be aware of media is a great
    source of facts.

  • Excellent steam showers, my family had a unit installed about 5 years ago and it could maybe do with upgrading, would never buy a dull
    or boring old common form of shower ever again

    Here is my web site steam shower unit

  • What a stuff of un-ambiguity and preserveness of valuable experience regarding unpredicted emotions.

    My site; average electrician salary toronto

  • Hello! I just wanted to ask if you ever have anyy trouble with hackers?
    My last blog (wordpress) was hafked and I ended up losing any months of
    hard work due to no data backup. Do you have anyy solutions to stop hackers?

  • Karolin says:

    Every weekend i used to visit this website, for the reason that i want enjoyment, for the reason that this this
    site conations in fact nice funny stuff too.

    Take a look att my webpage :: Android Technology Blog (Karolin)

  • I know this website provides quality based articles or reviews and extra information, is there any other website which offers these kinds of
    information in quality?

  • I’m gone to convey my little brother, that he should also pay a quick visit this weblog on regular basis to obtain updated from most up-to-date reports.

  • Talking about servants, warriors and the war techniques, it would be unfair to mention the samurai.
    You have 4 weapons of every kind – be sure to use them wisely.
    In the early years of his career, while still in Tulsa where he was teaching
    Tae Kwon Do and Kuk Sool, a form of Korean Ju Jitsu, he had the opportunity to meet a student of the Bruce
    Lee School in California.

    Feel free to visit my web site :: martial arts gear

  • If some one desires expert view regarding running a blog
    after that i propose him/her to pay a quick visit this website,
    Keep up the pleasant job.

  • Alberta says:

    Zinc is easy to get, and there are lots of supplements available
    for purchase in addition to the ability to make your personal medication and cream to fight the
    herpes infected tissues. The therapies for genital herpes in girls may include oral medication that is antiviral.

  • karate shop says:

    There’ is a huge difference between sport fighting and defensive movement.
    This is not a scripture about self-defense but
    about restitution and punishment for a crime.
    It was not necessarily a physical attack and was not meant to result in physical harm.

    Also visit my blog post; karate shop

  • A match may be decided by a knockout or by a submission. Where mixed martial arts
    improves on this idea is by allowing you to try a whole range of types of martial arts.
    Millions of Americans are currently enlisted in some sort of martial arts
    class.

    Here is my web-site martial arts equipment

  • However the concept of passing those teachings down from Master to student is at the core of what martial discipline is about.
    Go to Egypt to purchase the best camera and also buy the skill books.

    For further details please visit this facebook site.

    Feel free to surf to my web page martial arts weapons

  • They invalidated them and sent Congress back to the drawing board.
    A series of pictures are now working their way around the internet that
    showcase Demi with a number of female friends showing more than just a little skin.

    dikenal sebagai Lativi, dan Global TV Indonesia pada 2002.

  • Quality articles is the crucial to be a focus for
    the visitors to go to see the website, that’s what this web
    page is providing.

  • Hi there i am kavin, its my first occasion to commenting anywhere,
    when i read this piece of writing i thought i could
    also create comment due to this sensible post.

  • Just want to say yokur article iss as surprising. The clearness for your post is simply excellent and i could suplpose you’re an expert in this subject.

    Fiine with your permission let me too seize your RSS fed too keep
    up to date with forthcoming post. Thank you a million and please continue the enjoyable work.

    my web-site :: custom glock slide plate cover

Leave a comment!

Add your comment below, or trackback from your own site. You can also subscribe to these comments via RSS. Be nice. Keep it clean. Stay on topic. No spam.

We want to keep in touch with you. If you give us your email address, you may receive marketing emails from the DJ Networks family. We hope that's cool.

You can use these tags:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

This is a Gravatar-enabled weblog. To get your own globally-recognized-avatar, please register at Gravatar.