Declan McCullagh (@DeclanM), writer for CNET, covers the reveal of a new Bitcoin ATM/vending system at this past weekend’s Liberty Forum event in New Hampshire. Excerpts:
"[This ATM is] 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."
"To obtain Bitcoins, people use an iPhone app like Blockchain or Android’s BitcoinSpinner to show the ATM a QR code with their desired address for payments. After they insert a dollar bill (denominations up to $100 are accepted), the ATM automatically credits their Bitcoin account with the proceeds. There’s a 1 percent transaction fee."
“‘Even people who have been in the Bitcoin world for a while and have used every type of exchange are blown away by the simplicity of this machine,’ Harvey says. ‘I am just putting in a dollar. Before they really know what’s going on, their phone tells them, ‘You have Bitcoin.””
- http://bitcointalk.org/index.php?topic=146397.0 (Further discussion of the device)
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