Jeff Berwick, a well known Anarcho-Capitalist who’s blog I often read, has announced today that he’ll be opening the first public ATM in Cyprus soon.
Even better, he has started offering these ATM’s as a franchise called BitcoinATM!
These ATMs will allow 2-way transactions; you can send cash money up to your wallet at one, or you can change bitcoins down into the local currency too! If you’re reading this blog, I’m sure I don’t have to tell you what these things getting out in the wild would do for bitcoin… It would make bitcoin nothing short of truly USABLE.
FreeStaters (of the New Hampshire variety) were actually the first to create a working bitcoin ATM which simply took USD and sent bitcoin to an address in return; but they don’t seem to have gotten any further along with the project that the proof-of-concept model. Jeff’s ATM, which admittedly we see no evidence of it getting even that far yet, has great backing and lots of money behind it. Jeff is well known for his libertarian-slanted investment success. Continue reading