whats known and unknown

First Bitcoin ATM gets 348 transactions in first 8 days. Now comes the hard part

on November 8, 2013


An ATM machine that trades cash for Bitcoin attracted plenty of hoopla when it went live in a Vancouver coffee shop last week, but how many people actually used it? Now we have some numbers:

According to the ATM maker, Robocoin, the machines did over $100,000 worth of business and racked up 348 transactions in its first eight days. CEO Jordan Kelley added that 70 percent of the ATM users created Bitcoin wallets — suggesting they were first-time users.

“We had a fantastic mix of new and old Bitcoin users,” said Kelley, adding that the ATM visitors included Bitcoin miners and an 80-year-old woman.

Kelley claimed that the Robocoin machines, which cost about $15,000 each, will soon appear in other cities by the end of December, including Berlin, Toronto, Hong Kong, London and New York.

It’s too soon to say if Kelley’s prediction will come true, but the hype over the…

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