Bitcoin ATM machine is emerging, can the future be retained?

Foreign media recently published the article detailed the development history of Bitcoin ATM machine and the current situation of industry competition. The article said that the budding industry has attracted the attention of traditional banknote ATM industry, there are insiders believe that Bitcoin ATM machine will not have any impact, is currently only niche products. Some people think that the machine is very attractive, to the illusory network money economy to create a tangible interface. Will the entity interface be retained in the future? Here's what this article is about: Two years ago, Zache Harvey Zach,harvey and his brother, Josh Harvey, ran a guitar shop in New Hampshire, but the operation was bad. The shop was booming in Tel Aviv, Israel, but it was unsustainable after moving to the United States. Before shutting down the company, the two brothers began to raise new projects. They had been in touch with Bitcoin in 2011, but they had nothing to do with the virtual currency except to accept Bitcoin to pay for their guitars. Now they decide to try to solve the problem of buying Bitcoin. The problem is very complex. They developed a prototype of a machine that traded paper money for Bitcoin. It is essentially a wooden box stuffed with various parts bought on ebay. Zack recalls: "We took the prototype to a libertarian forum in Hampshire, which immediately drew people's attention." Bitcoin becomes something that people can interact with, something they can see. It was quite a sensation at the time. "The brother Harvey has successfully transformed the prototype into the largest lamassubitcoinventures ATM manufacturer, the most market-share (hereinafter referred to as" Lamassu ") company. Although Lamassu is currently in the lead, it also faces fierce competition from early rivals Robocoin and some well-funded newcomers in the fast-moving industry. Industry pioneer the first commercial Bitcoin ATM machine from Las Vegas manufacturer Robocoin. It was installed in the Waves Café in Vancouver at the end of October 2013, when suddenly attracted a lot of people in line to buy Bitcoin, immediately brought to that place a certain kind of sci-fi color. It was only 1 months after news of the machine's revenues of more than 1 million Canadian dollars, and its operators made ends meet. The gold rush of Bitcoin ATM was opened. At first, the ATM manufacturing market was monopolized by two companies Robocoin and Lamassu, although the two sides had very different business models. Robocoin's stand-alone machine is quite large, with a built-in palm scanner. They support two-way trading between paper and Bitcoin, and the price of a single machine is about 15,000 dollars. Lamassu machines are relatively compact, using desktop mode. It costs 6500 dollars and only supports the purchase of Bitcoin. There are other differences. Robocoin machine requires operators to use Bitstamp exchange, LAMASSU customers can choose to hand overEasy to do. Robocoin also charged a 1% fee for the transactions completed. Robocoin first followed the banks, calling their machines "branches", while lamassu the open source software route. Early development barriers Two of pioneers have encountered barriers to development in restaurants, cafes and bars across the globe in their respective machines. In January this year, for example, Robocoin's machine failed to handle orders due to the Bitstamp of the only available exchange, causing discontent among dozens of of customers. At the same time, Lamassu made a client a competitor. The owner of its eighth machine, Tim Shuman (Tim,schuuman), was not satisfied with Lamassu because it did not open source to its software. Therefore, after receiving the Lamassu machine, Schumann quickly began to build open source Bitcoin ATM machine. The machine is now a Skyhook machine with a lower-priced route. Jonathan Harrison, a satoshipoint operator in London, Jonathan,harrison the slogan: His company has 4 Robocoin machines and a lamassu machine. But he notes that the industry is changing: "Lamassu seems to be moving in the direction of Robocoin, and they are going to do something." We need to pay the Robocoin 1% for each transaction. We don't have to pay for lamassu. "The ATM industry outside the Bitcoin bubble is lamassu and robocoin into a fierce scramble for market share, striving to get the goods delivered before the deadline, and powerful new competitors have entered the field." This is not surprising, after all, the global ATM industry has reached billions of U.S. dollars. According to Retail,banking,research (RBR), a consultancy, the total number of ATM machines worldwide has reached 2.6 million units. The figure is accelerating, driven by booming demand in Asia. For example, RBR found that India's ATM installed capacity Rose 44% in 2012. If you look at the revenue figures of the few giants that dominate the traditional ATM manufacturing industry, you will understand the big business opportunities in the emerging Bitcoin ATM market. The world's largest manufacturer of ATM machines is NCR, which accounts for 30% of the global installed capacity, according to RBR's research data. Last year, the company, which traded on the NYSE, recorded 3.1 billion dollars in financial services, including ATM hardware, software and installation. Its rival Diebold headquarters is also located in Ohio, where its ATM business recorded revenue of $2.3 billion last year. The total number of global employees in these two companies is 45,300. Integration with paper Money ATM network The most ambitious of the two new bitaccess and Skyhook in the field are the first and foremost. The former came from Canada and just quitY,combinator, a well-known business incubator in Silicon Valley. Bitaccess has four co-founder, Hasib Avan (Haseeb,awan) is one of them. The company's current Bitcoin ATM machine installed capacity of 46 units. Avan has said that the company's grand strategy is to make use of existing ATM networks and big banks, and Bitaccess is already on the same side. Avan points out that the model of providing carriers with a holistic solution will help bitaccess from existing ATM network operators. His company will deal with compliance issues, fund transfers and the deployment of machine hardware and software for clients. "The traditional ATM industry is now in danger and ATM machines are everywhere," he said. Bitcoin ATMs can make big deals and they are more profitable. We are currently in contact with the major banks. "Money ATM networks are either operated by banks or operated by independent operators. The banking network dominates the industry in most countries, while the US is more specific. Independent deployments account for more than half of the market in the country, according to the US ATM Commission. Payment,alliance,international, located in Kentucky State, is the largest independent deployment provider in North America. The private company operates 60,000 ATM machines, accounting for about 15% of the U.S. installed capacity. Open source pull down the overall price Skyhook is the market's cheapest Bitcoin ATM provider, its product price of only 999 U.S. dollars. It is located in Oregon State, using the open source software model. The machine is relatively simple, allowing users to buy Bitcoin. It is a small white desktop machine, based on touch screen operation. Schumann, co-founder of the start-up, argues that allowing customers to censor code is the best way for companies to grow and increase their trust in Bitcoin. In addition, this approach lowers development costs and creates price pressures for other manufacturers. "Our hardware and open source software are relatively simple," he said. Our margins may be lower than our competitors, but it would be nice if we could force other manufacturers to cut prices. The more open and universal the technology is, the more the bitcoin will benefit. "In the eyes of ATM operators like Satoshipoint Harrison, the growing competition among manufacturers is a welcome development," he said. He said he would pay close attention to the bitaccess machine. "These new machines are much cheaper and they are very aggressive in pricing," he said. "he said. Notes ATM Industry Note ATM industry is beginning to notice the progress of the virtual currency field. The ATM Industry Association issued a written submission on Bitcoin ATM this month, calling for greater regulation and a welcome entry into the competition of bitcoin ATM operators. Bitcoin is also on the move. Michael, chairman of the association, Michael,lee that several bitcoin ATM companies are expected to become members of the association in the coming weeks. The organization announced an extension. "OnlyBy communicating and building relationships with innovators, we are able to seamlessly adapt to this new industry development. "he said. RBR Marketing Manager Filix Colombette (felix,kronabetter) is less bullish on the emerging bitcoin ATM industry: "Bitcoin ATM does not have any impact." I think that these machines are not the kind of regular ATMs produced by big manufacturers, so it's just a niche product. "Does Bitcoin ATM have a chance to survive?" Bitcoin ATM has played a very important role in shaping a tangible interface to the illusory cyber-money economy, but can they be retained in the future? Or, as mobile wallets become more popular, they will end up in the past, with small disks, tape recorders, videos, and so on, fading away from the history stage? Bitcoiniacs, the operator of the first bitcoin ATM machine, Mitchell Demite (Mitchell,demeter) disagreed. He describes the charm of a machine designed to buy the digital currency: "For many people, our machines have witnessed their first contact with Bitcoin." Many people have studied bitcoin on the internet, but they do not have the communication object in reality. Bitcoin ATMs are able to meet their needs, so they think that's a big advantage. "Translator: Lebang