[ale] OT: First Bitcoin ATM Will Be Installed In Atlanta

[Justin Goldberg]

The world's first bitcoin atm will be installed in atlanta. You enter cash
or debit AFAIK, and it prints out a QR code of your bitcoins based on the
current market value. Now all those credit card skimmers have to do is
install a camera near the ATM, no need for those card skimmers with the 3g
modems built in! Hopefully the printout will be covered to prevent this
from occurring.

The major concern I have with bitcoin is how quickly it can be converted to
cash. For example, can it only be done at one of the online exchanges?

Relevant links:

http://www.reddit.com/r/Bitcoin/comments/1dkmol/it_lives_bitcoin_atm_about_to_see_how_this_goes/


http://www.bizjournals.com/atlanta/video/JvOHgwYjrHLaQlRRw6cC718c29CNKMe_?autoplay=1


http://www.coindesk.com/lamassu-ships-first-bitcoin-atm/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CoinDesk+(CoinDesk+-+The+Voice+of+Digital+Currency)


I am wondering if I could do IT work in exchange for bitcoins a

I also wonder why can't some make an ATM that let's you do the reverse of
this? Eg: enter bitcoins, get cash in return. I believe the article below
might help to answer that question. It states that bitcoin is a currency, a
commodity, and a security. So basically, it's like entering your debit card
into an ATM and getting back what Goldman Sachs thinks crude oil will cost
six months from now. Hah! Ron Frazier, you'll find the humor in that (the
theory is that gas costs so much is due to how heavily it's traded as a
futures commodity, the biggest perpetrator being Goldman Sachs)

http://pandodaily.com/2013/10/03/andreessen-bitcoin-is-like-the-early-internet/


Further info about oil speculation and goldman sachs:
http://www.rollingstone.com/politics/news/the-great-american-bubble-machine-20100405
Here's my favorite part:

"By 2008, a barrel of oil was traded 27 times, on average, before it was
actually delivered and consumed.

As is so often the case, there had been a Depression-era law in place
designed specifically to prevent this sort of thing."

Goldman sachs newest shell-game is aluminum. This reminds me of the scene
in Pretty Woman when he realizes that his company doesn't make or do
anything, just sell off other companies as a corporate raider.
http://www.nytimes.com/2013/07/21/business/a-shuffle-of-aluminum-but-to-banks-pure-gold.html?pagewanted=all&_r=0

Oh and by the way, Goldman Sachs and Morgan Stanley employees visit the
Bitcoin exchanges about 30 times per day:
http://www.reuters.com/article/2012/04/01/traders-bitcoin-idUSL6E8ET5K620120401


There's great movie about the mortgage market crash of 2008 called Margin
Call. Really interesting movie from someone who is not a wall street/stock
watcher type of person.

At this point I think I'm just rambling on.

Regards,
Justin
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