BITCOIN ATM in the DR

E

eirian

New member
Apr 25, 2012
13
0
0
@ Natu
Mate, do not waste your time in trying to explain to the sheeple what BTC is. There will always be "the experts" that will explain without the shadow of a doubt (LOL) how the financial world works (even though is all a scam...).
And on top of it, they will "enlighten" us with their expertise regarding BTC and cryptocurrency, although they haven't got the slightest idea what BTC is, how it works and what it stands for...
To them, the existing fiat is "backed" by something (in their diseased imagination - gold...). Just let them be, for they know not better...
Hold onto your BTC... We'll have the last laugh... 
 
M

Manuel01

Well-known member
Apr 1, 2009
1,043
1,079
113
ATM makes no sense at all

PICHARDO said:
HomeNewsCrypto NewsDominican Republic Sees First Bitcoin ATM In Santa Domingo
Dominican Republic Sees First Bitcoin ATM In Santa Domingo JP Buntinx April 20, 2016 Crypto News, News No Comments TheMerkle_Dominican Republic


The Dominican Republic is not a place most people would associate with Bitcoin and cryptocurrency, but that situation will be coming to change very soon. The very first Bitcoin ATM has been installed in the country, located in Santa Domingo.




It has been coming for quite a long time, but the Dominican Republic has finally received their first Bitcoin ATM. This will help put cryptocurrency on the map in the region for sure, as there is a growing demand for Bitcoin in the area. This machine will help users acquire Bitcoin more conveniently.

It is also worth noting the Bitcoin ATM is a Lamassu machine, which means it could be opened up to Ethereum users at a later stage. Device manufacturers are focusing on improving the software side associated with using a Bitcoin ATM, and new features will be coming in the future. In fact, some companies are actively considering adding a remittance solution to these devices in the coming months.

Placing the Bitcoin ATM in the city of Santo Domingo is a smart decision, as capital cities attract a lot of foot traffic on a daily basis. Considering how the machine is located at the WTS Travel offices in Santa Domingo, users will have plenty of opportunities to check out the Bitcoin ATM and make use of its services.

As mentioned before, this Dominican Republic Bitcoin ATM can only be used to purchase Bitcoin, rather than convert it to local currency as well. The fees charged range anywhere from 6% to 8% above the BitPay Bitcoin price, which is in line with most other ATM solutions all over the world. Operating such a device is not cheap, and the owners have to make a bit of money somehow.

What is of particular interest is how the Lamassu Bitcoin ATM in the Dominican Republic has no limits regarding how much Bitcoin one can purchase at any given time. Moreover, there is an opportunity for the operators to add two-way Bitcoin support at a later date since the machine has the built-in capability of buying cryptocurrency as well.

Source: CoinATMRadar

20160420717d814891d3a7252.png


Images credit 1,2

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

http://themerkle.com/dominican-republic-sees-first-bitcoin-atm-in-santa-domingo/
Click to expand...

With a Fee between 6-8 % a Bitcoin Purchase makes no sense at all. The Bitcoins you purchase are anyway stored in your virtual wallet. Therefor you can purchase them online from a trustworthy seller for a fraction of this fee. It's a nice gimmik but nothing more.
 
G

GuillermoRamon

Bronze
Jul 28, 2014
1,718
1
0
Manuel01 said:
With a Fee between 6-8 % a Bitcoin Purchase makes no sense at all. The Bitcoins you purchase are anyway stored in your virtual wallet.
Click to expand...

Fees vary

http://www.businessinsider.com/using-a-bitcoin-atm-is-actually-pretty-expensive-2014-3

Aside from the fee part, you obviously have no idea who and why the people are using them. Most people dealing in them are not withdrawing them from an ATM, they are used to purchase things online, generally in the grey to black markets...
 
J

jimmythegreek

Bronze
Dec 4, 2008
1,066
4
0
windeguy said:
People who are into BTC can apparently predict the future. That is good to know.
Click to expand...

Interesting the move in this BTC from 2015 to present. Seems to be a correlation with the equity markets as a real downtrend was forming with 2015 the first yearly close lower since 2008 and then reversed magically in Feb-2016. All appears to be massive intervention in the financial system to reverse that decline and the rise of Bitcoin from 2015-2016 seems to be a correlation with that activity.
 
M

Manuel01

Well-known member
Apr 1, 2009
1,043
1,079
113
R

RioStyle

Guest
You might also want to check out genesis mining review 2018 here since it represents quite a fair numbers of profit that you can expect. As someone said above, you should also keep in mind your fees and all that stuff so don't forget about it.
 
L

LTSteve

Gold
Jul 9, 2010
5,449
23
38
PICHARDO said:
HomeNewsCrypto NewsDominican Republic Sees First Bitcoin ATM In Santa Domingo
Dominican Republic Sees First Bitcoin ATM In Santa Domingo JP Buntinx April 20, 2016 Crypto News, News No Comments TheMerkle_Dominican Republic


The Dominican Republic is not a place most people would associate with Bitcoin and cryptocurrency, but that situation will be coming to change very soon. The very first Bitcoin ATM has been installed in the country, located in Santa Domingo.




It has been coming for quite a long time, but the Dominican Republic has finally received their first Bitcoin ATM. This will help put cryptocurrency on the map in the region for sure, as there is a growing demand for Bitcoin in the area. This machine will help users acquire Bitcoin more conveniently.

It is also worth noting the Bitcoin ATM is a Lamassu machine, which means it could be opened up to Ethereum users at a later stage. Device manufacturers are focusing on improving the software side associated with using a Bitcoin ATM, and new features will be coming in the future. In fact, some companies are actively considering adding a remittance solution to these devices in the coming months.

Placing the Bitcoin ATM in the city of Santo Domingo is a smart decision, as capital cities attract a lot of foot traffic on a daily basis. Considering how the machine is located at the WTS Travel offices in Santa Domingo, users will have plenty of opportunities to check out the Bitcoin ATM and make use of its services.

As mentioned before, this Dominican Republic Bitcoin ATM can only be used to purchase Bitcoin, rather than convert it to local currency as well. The fees charged range anywhere from 6% to 8% above the BitPay Bitcoin price, which is in line with most other ATM solutions all over the world. Operating such a device is not cheap, and the owners have to make a bit of money somehow.

What is of particular interest is how the Lamassu Bitcoin ATM in the Dominican Republic has no limits regarding how much Bitcoin one can purchase at any given time. Moreover, there is an opportunity for the operators to add two-way Bitcoin support at a later date since the machine has the built-in capability of buying cryptocurrency as well.

Source: CoinATMRadar

20160420717d814891d3a7252.png


Images credit 1,2

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

http://themerkle.com/dominican-republic-sees-first-bitcoin-atm-in-santa-domingo/
Click to expand...

WHY???????????????????????????????
 
D

Derfish

Gold
Jan 7, 2016
4,441
2
0
And here I thunk that there was no physical manifestitation of bitcoins, just a number in a computer somewhere, isn't that the essence of kryptonite corrency? But we have a machine now spitting out what? Little bittie coins, marked bitcoins? Or what?
 
JD Jones

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
Jan 7, 2016
13,422
9,637
113
Derfish said:
And here I thunk that there was no physical manifestitation of bitcoins, just a number in a computer somewhere, isn't that the essence of kryptonite corrency? But we have a machine now spitting out what? Little bittie coins, marked bitcoins? Or what?
Click to expand...

Der.... I like you. Really, I do. I have a ton of bitcoins at home that I am going to sell to you for a great price, my fren. Only one hundred dollars each. Incredible, isn't it?

As an added benefit, I have them disguised as Dominican 25 peso coins so nobody will recognize them if they see them.

Genius, right. I know.

How many do you want?
 
R

Ricardo900

Silver
Jul 12, 2004
3,269
37
48
I can see how the criminal elements would utilize stolen credit/debit cards to purchase bitcoins. Although Bitcoin is trading about $8k per coin, you can purchase mili or micro coins much cheaper. There are pros and cons.
 
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