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When the Rest of Bitcoin ATMs Get Placed

CoinGuyCoinGuy Administrator
Seeing how crazy the media went with just one Robocoin ATM in Vancouver, what will happen when the rest come online? Do you plan to use it? Do you think this will help drive Bitcoin even higher?

Comments

  • From what I read the Vancouver ATM has already done more than $100,000 in sales. Combined with all the media (bitcoin was the second most popular Google search after "Halloween") you had the conditions which brought CaVirtex prices above MtGox USD and we're all pretty familiar with Gox's liquidity issues. Even now the spread between Bitstamp and Gox USD is less than $1.

    I'll admit prices are frothy right now and a healthy pullback will hopefully be coming in the near future. We typically see fast pullbacks when reaching a previous high as people who may have bought the top last time start getting twitchy again. Plus all the new people coming in might not realize just how volatile this market can be.

    Basically we're in unknown territory. China's buying and now we watch how supply and demand work in a world commodity like bitcoin.
  • I think China is the key here. China's adoption of BTC (which, best I can figure is actually still substantially smaller on a per capita basis) will help to level off some of the crazy volatility and create a more stable BTC. And IMO, yes, yes, yes! Tech such as Robocoin, Cointap, Coinkite, an expansion of Bitpay and the introduction of some real competitors in that space... all of this will help reduce the barrier for entry into BTC - something desperately needed.

    I'm not suggesting that we're on a continual hockey stick growth from now 'till eternity. Sure, we'll see some dips and spikes. And maybe I'll be shown to be wrong ('cause really, what do I know?), but I suspect those dips will be a lot less dippy and those spikes will be a lot less spiky going forward. By the end of 2014 I figure we'll be seeing Bitcoin behaving a lot more like other commodities in terms of its volatility.
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