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First Bitcon ATM in Dubai: My thoughts

Discussion in 'Economy' started by Anarchy in the UK, Mar 18, 2014.

  1. Anarchy in the UK

    Anarchy in the UK New Member

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    Weird development. The Arabs are gonna HATE Bitcoin when they realise it's a NWO shitcoin. But then, the majority of Arabs probably don't have the right infrastructure to get started with crypto. The ATM is aimed at the rich urban centres, the international zones where the Westerners are living.

    Mulling over this. Turkey seems the perfect place to market DRK. There's a strong nationalist element, which is very outspoken against world government. 70 or 80 million people with a real independent streak.

    I reckon a Turkish translation Wiki could be a smart move.
     
  2. TanteStefana

    TanteStefana Moderator
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    The mid east has a HUGE guest worker population. They are the ones who need this more than anyone. They send most of their money home, and what the banks charge them is outrageous. So cryptos have become very popular there as it saves them a lot of money in fees.

    Good idea on a translation to Turkish.

    Now when will they put one in MY backyard?
     
  3. HammerHedd

    HammerHedd Member

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    I wonder who is behind this, and what sort of fees... It wouldn't surprise me if the Emiratis are actually funding this.

    Let's pray for success here, because then it can become a proof of concept. It makes sense that bitcoin would be the first coin, as it is the biggest.
     
  4. Sub-Ether

    Sub-Ether Well-known Member

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    Over in the US..

    The ATM is at the Handlebar, a hipster hangout on East Fifth Street in Austin. The machine will scan a user's palm print and government-issued ID to verify identity, then allow the user to add money to a virtual Bitcoin "wallet" or withdraw the currency to a mobile phone app, Kelley said.
    The machine will also perform a one-time face recognition scan to verify identity. "All you need is your phone, your ID, your palm and your face – all the things people carry with them on a daily basis," he said.
     
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  5. FreeOne

    FreeOne Member

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    Don't like the sounds of this, where did you read this?
     
  6. TanteStefana

    TanteStefana Moderator
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    I've read that somewhere before too... on bitcointalk or something. Nobody'd use it except people who don't think.... oh wait, maybe 80% of the population, LOL. Nah, I don't think that's real! If it is, they forgot the urine cup dispenser! LOL
     
  7. Sub-Ether

    Sub-Ether Well-known Member

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  8. TanteStefana

    TanteStefana Moderator
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    Poor guy, when nobody uses it, he'll wonder why? Seriously though, why did they feel the need to do that? I don't get it?

    Oh, I'm being stupid. The government requires user id when exchanging to fiat, and an id can be stolen. If I use coinbase to withdraw fiat, they must have my personal information as well. It's where freedom and creepy oversight meet :(
     
    #8 TanteStefana, Apr 1, 2014
    Last edited by a moderator: Apr 1, 2014
  9. MrWilliamChui

    MrWilliamChui Member

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    From this thread, I'd ask: is there a use case for ATMs? In places where exchanges may not be presently available would an ATM not solve the limited access to crypto?
     
  10. ICOselector2018

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    It’s really great to see such developments happening, as the industry certainly requires a major makeover. With finally major country like China taking great interest in Blockchain technology and Bitcoin itself, there is a lot that’s happening. Recently, Alipay closed over 3000 Crypto Trading Accounts, so not only China is moving ahead but also pushing for a PROPER system, which hopefully will ensure everything runs out right.
     

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