$1 Worth 100 Bitcoin?

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Today while reading the news I came across some information about crypto ATM updates, that motivated me to dig deep and see the history of crypto ATMs.

Don't watch this video if you have a heart condition!!!

This was the first Bitcoin ATM, set up in Vancouver Canada, on the 28th of November 2013! Obviously the event made news immediately. As you can see on the display, it was called bitcoin ATM as that's what it was for.

Looking at the video after more than 7 years is funny, if i don't count the painful detail at 1:43. Let me quote what it says.

Today one dollar is worth about 100 bitcoin.

It hurts even writing it down, not to mention thinking of the opportunity. $1 is nothing, no matter where you live. I could buy 1kg of bread with $1 or buy 2 bus tickets for the local bus, just to give you an example.

$1 worth 100 bitcoin!!! Can you believe it? I can't :D Too painful. Imagine buying $100 worth of bitcoin, I mean 10,000, that at today's value would be 486,000,000! Can't even think of it as it's too painful :) Tooooo painful!!!

Ok, so jokes (although this is not a joke, it's very serious) aside, look at us 7 years after the first bitcoin ATM launch.

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Above you can see the statistics brought to us by coinatmradar.com, the number of crypto ATMs in the world. I'm not going to say bitcoin ATMs as each ATM has a set of currencies to offer, other than bitcoin, so it's not appropriate.

These ATMs are present in most of the countries, offering users the possibility to buy a set of cryptocurrencies, making it easier to invest.

Today came the news that DODGE coin will be available at the ATMs soon. DODGE coin got a lot of attention lately thanks to the new God called Elon Musk. The ATM service provider saw an opportunity in it and decided to offer the option in the US. I'm not sure if DODGE will be added in other countries but it's a start.

Please note, China is not on the list. Nigeria has 1 ATM that no one is going to touch from now on as crypto is banned in Nigeria.

So it's been 7 years since the first crypto (bitcoin back then) ATM was set up. Unfortunately there are countries where there's no ATM and chance is there will not be ever. It's a question of development and economic situation, but also tied to the upcoming CBDC.

Once the central bank digital currency is introduced, there will be no need for these ATMs. It's true that these can probably be modified to work with digital wallets but what's the point? You have the app on your phone and can connect to any exchange you want. I may be wrong about this, but we'll see.

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12 comments
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Oh my goodness! Crazy - I guess there are some bitcoin billionaires out there??

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Very possible. Imagine the new generation buying a few hundreds or thousands as it costed literally nothing, a few beers maybe. Less than a night out with friends to give you an example. If they kept it, now they are kings :)

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52 in greece not bad! the vast majority though are in Athens!

i think that even if someone bought 100 btc with 1$ most likely he would sell with just a small pump

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I can't even imagine getting 100 bitcoins for $1. Wish my parents wanted a kid 5 years earlier so I wasn't 10 when bitcoin was so cheap LOL

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LOL, everyone has something to regret when it comes to bitcoin. Some are regretting not buying earlier, others selling to early :) But you? :D

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Its growth is immense, when you check history.

What I wonder is: will we have a crypto ATM in my small province town first or will ATMs disappear / be replaced with something else first? :)

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We all know how things are working in Romania, so I don't see CBDC implemented anytime soon, which means these crypto ATMs have a high chance of being spread in the country. These ATM operators are motivated to spread them, plus it can be set up in every chopping center, supermarket. So Id's say you're going to see the ATM in your town soon.

We only have one and wish there will be more as I have to cross the whole city for it, but it's still better than nothing :)

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