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Bitcoin ATM

by Virtualghost
3 replies
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Never understood this whole bitcoin thing maybe never will but to my surprise I actually saw a Bitcoin ATM and I never thought I'd see one ever.Was here in Ontario Canada front lobby of a Casino.
  • Profile picture of the author danielpbarron
    Originally Posted by Virtualghost View Post

    Never understood this whole bitcoin thing maybe never will but to my surprise I actually saw a Bitcoin ATM and I never thought I'd see one ever.Was here in Ontario Canada front lobby of a Casino.
    The Bitcoin ATMs and other FIAT based businesses will not work out in the long run. The issue is twofold: 1) they cater to the idiot masses, and 2) they are vulnerable to theft.

    To the first point: Bitcoin is not for the poor. The traditional financial institutions don't mind pandering to this group; they use slogans like, "give me your tired, your poor, Your huddled masses yearning to breathe free." It sounds nice, right? Well let me pull out a verse from The Bible:

    Faithful are the wounds of a friend,
    But the kisses of an enemy are deceitful.
    Idiots need to be told they are idiots. Poor people need to own up to their poor-ness. And, they all need to understand that cryptography (Bitcoin and the like) is hard; that is, "being your own bank," as the evangelists like to tout, is as difficult as it should sound to you. Sure, you can go the easy route; be my guest! Just scan your palm print here please. Ok, now retinal scan, look into the camera...

    To the second point, Bitcoin is revolutionary because it isn't limited to any one geographical location; this is where gold failed. What do I mean by theft? There is the obvious scenario in which some degenerate decides to throw a chain around an ATM and drive home with it dragging behind his pickup truck, but that isn't it. Why isn't there a golden revolution? Because FIAT controllers wouldn't allow it, and that was that. "Oh you have a gold standard? Lemme see that warehouse! YOINK!" Governments steal. Try to play ball on their court and they'll never let you win.
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    Daniel P. Barron
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    • Profile picture of the author Kay King
      Idiots need to be told they are idiots.
      Maybe -but who decides who is smart enough to label them?

      Every post you've made since joining has been a long argument about BitCoin - rather odd but whatever.
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      • Profile picture of the author danielpbarron
        Originally Posted by Kay King View Post

        Maybe -but who decides who is smart enough to label them?
        It's not that there need be a single arbiter (although there kinda already is one); it's that there is a culture of silence on the matter of idiocy. I'd love for anyone and everyone to call out idiocy when they see it, even if it turns out they were wrong in making such a judgement. It's easy enough to sort through all the failed predictions to find truth. This is especially relevant when talking about Bitcoin, the proponents of which usually suffer from a sort of "gotta support the team" kind of mentality. What should be seen as obvious scams are instead defended, as if Bitcoin itself is under attack.

        Every post you've made since joining has been a long argument about BitCoin - rather odd but whatever.
        I talk about Bitcoin and The Bible wherever I can; I specifically searched the forum for these keywords. What is so odd about that? I have a long history of pursuing these interests, which you can check out on my Twitter profile.
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        Daniel P. Barron
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