Bitcoin ATM Installations Jump By 85 Pct; Argentinian Lawmaker To Introduce Crypto Bill – It’s great to see user adoption is on the rise; Bitcoin’s network infrastructure continues to grow i.e exchanges, wallets, miners, nodes etc. It is also great to see ATM’s on the rise too, this is no doubt due to the paralleled confidence & investment pouring into the space. Last time I checked there was only 3,000 ATM’s – exponential growth right here.
As we transition into a Bitcoin-based-world, ATM’s will definitely have their place. People will need time to adjust to money that is purely network-based. Having the plastic card slot into the ATM machine currently gives most people the warm and fuzzy feel. When you start to see new layers of Bitcoin, you’ll realize both these technologies are pointless for Bitcoin in the long run.
Bitcoin ATM’s & debit cards are merely to transfer you funds out of the fiat world. Once a Bitcoin circular economy is formed, it will make both these things redundant. When the debt bubble pops and government’s can’t save the system by printing more money, there will be overnight chaos. When the value of the dollar collapses, you can almost bet people will demand their pay in Bitcoin. At this point, who will go to an ATM or go near anything related to fiat or traditional banking?
As we enter the next Bitcoin bull run, every man & his dog is going to want Bitcoin. Big companies like PayPal can see what’s coming; they saw the revenue Square was making & had to get in on the action. I’ve seen Bitcoin ATM’s charge fees anywhere from 5-20% – this is extremely lucrative, even if you only get a few thousand dollars volume per day. My only question for the owners of Bitcoin ATM’s: What happen’s When Apple, Google & all the other payment platforms get on board too? You can almost bet they will, because they’ll be financially incentivized too. Accessibility to Bitcoin is getting easier & easier. In my opinion, I can’t see them looking for an ATM & paying massive fees, when they can buy it from the comfort of their living room with more competitive fees.
All this money & more will pour into Bitcoin; this financial system is on the inevitable path of collapse:
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