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Dirty battle brewing: Where is the first Bitcoin ATM in the U.S.?

(Finance News) Today, the web exploded with excitement surrounding the first Bitcoin ATM, but each news organization reported a different city – so who really is home to the first?

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bitcoin atm

Uh oh, there’s a conflict a brewin’

This morning, we published a story announcing that the first Bitcoin ATM in America will open tomorrow in Austin, but apparently, there are stories floating around that Boston, Albuquerque, or maybe even Seattle are home to the first Bitcoin ATM in operation. There are three reasons that there is confusion surrounding the issue.

First, there are two Bitcoin ATM manufacturers (Robocoin and Lamassu) that have products going live this week, so the first element of the confusion is rooted in this competition and conflicting information with both claiming to be first.

Third, there are machines being called ATMs that some wouldn’t necessarily consider to be ATMs, because we’re used to a bi-directional transaction machine, but some of the machines live this week are uni-directional.

Let’s talk about what each city is offering and when to determine the true winner of where the hell the first real Bitcoin ATM is in the United States O’ America.

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Canada did it first

Asia and Canada already have Bitcoin ATMs in operation, so like they say on South Park, blame Canada. Today’s argument is focused on where in the United States can claim the fame of having the first operational Bitcoin ATM.

Is Boston the winner?

In Boston, Liberty Teller unveiled a working Bitcoin ATM this morning made by Lamassu, but it is not anchored, but is manned by the creators, and it is said that you can deposit Bitcoin from the machine into an existing digital wallet by scanning a QR code or via paper wallet, which can be printed at the machine. In other words, you put cash in, you get Bitcoin out.

The creators are manning the table with the machine until they figure out how to get it permanently installed, with the following photo courtesy of Reddit user, nothanks123:
bitcoin atm

We suspect that they got this up and running to be able to claim a first before the permanent install was really ready, but that doesn’t make them any less in first place.

Is Seattle the winner?

Several news organizations have misread Robocoins press releases and have published stories (like this one) indicating that the city will have operational Bitcoin ATMs later this month, but with other cities already operating the machine, Seattle isn’t the winner of this race. Sorry, you may have won the Super Bowl, but not the Bitcoin ATM race.

Is Albuquerque the winner?

Yesterday, Lamassu flipped the “on” switch on one of their machines yesterday, which is permanently installed at Imbibe, an upscale cigar bar and lounge in Albuquerque near the University of New Mexico. Because it is a uni-directional ATM, it is still an ATM, nonetheless. Lamassu calls it more of a “vending machine” since it does not dispense cash, but it is an ATM based on the actual definition.

CNET offers a picture of the device live as of yesterday, February 18th:
enchanted bitcoins albuquerque

Is Austin the winner?

We reported earlier today that Austin would be the first in the nation to be home to a real Bitcoin ATM, and while it will be a Robocoin machine and bi-directional (can pull or deposit cash), it will not go live until tomorrow. Many consider this the first Bitcoin ATM, given that the founder of Lamassu calls his machine more of a vending machine because it is uni-directional, based on the definition of ATM, Austin is not the first to get a machine, but is first to get a bi-directional ATM.

So who is the winner?

IT’S A TIE. Kind of.

Austin is, in fact, the home of the first bi-directional ATM that allows you to pull cash in a traditional sense, but Albuquerque is the home of the first uni-direcitonal ATM which pre-dates Austin by two days.

So we’ll leave it to you – do you think Austin or Albuquerque is first to have a Bitcoin ATM?

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1 Comment

1 Comment

  1. Bitcoin ATM

    March 5, 2014 at 1:18 am

    “Get used a
    lot by both honest and dis honest people, No problems”

    https://www.bitcoinmoneyatm.com

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Business Finance

COVID-19: Governors fail renters, a 90-day rent freeze is the only option now

Independent contractors whose only sin is renting instead of owning, are facing evictions even as Governors put tiny bandaids on the situation. A 90-day freeze is the nation’s only option to avoid mass migrations or spikes in homelessness.

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2020, it seems, is the year of rebranding—even when it comes to our impromptu recession brought on by a variety of factors (but largely thanks to COVID-19). Despite the negative connotations of widespread economic disaster, some people, such as St. Louis Federal Reserve President James Bullard, are regarding this instance as “an investment in U.S. public health.”

Should we all be so optimistic? Bullard seems to think so.

To be fair, James Bullard’s “optimism” also accounts for taking a “$2.5 trillion hit” to the economy, so it’s not all sunshine and dancing unicorns (this time). However, the long-term outcome of handling this crisis correctly—a process which involves bailing out small businesses, matching wages, and contributing to rebuilding and supporting our healthcare infrastructure—will be, according to Bullard, positive.

Bullard’s optimism does come with an important message: As with pretty much anything, the simpler we can keep solutions to this problem, the better the outcome will be. We’re not off to a great start; between states’ varying responses to COVID-19 procedures and mixed congressional support for a stimulus package, the process of dealing with economic fallout has become more complicated than some—Bullard included—would consider “ideal”.

Unfortunately, there isn’t really an “ideal” outcome here that is also practical without requiring a heretofore unseen level of cooperation and cohesion between political parties and state-based cultures. In the event that we can actually pull together and actively invest, as Bullard suggests, in our infrastructure, the implications for our economy will ultimately be positive—even if only in a pyrrhic victory kind of way.

In unprecedented times of crisis—you know, like right now—a little bit of optimism doesn’t hurt. Over the course of the next few months, you’ll hear all sorts of different takes on the situation; some people—those who identify as “realists” but really just enjoy bumming people out—will actively speak out against positive attitudes, while others will avoid “getting their hopes up” because they don’t want to be disappointed.

But, if Bullard’s optimism is to be believed—and we’re choosing to think it is—you have full permission to let yourself hope, at least for now.

Remember, there are a couple of things you can do to bolster your immune system without medicine during this time. One of them involves keeping a positive outlook, and the other one is eating plenty of garlic; we’ve found that one accompanies the other.

This story was first published in our Real Estate section.

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Business Finance

Gov. Cuomo first to issue 90-day moratorium on commercial, residential evictions

(NEWS) NY Governor, Andrew Cuomo is the first state leader to put a halt to all commercial and residential payments in an effort to stem the COVID-19 crisis.

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New York Governor, Andrew Cuomo is the first state governor to put a moratorium on residential and commercial evictions in response to the COVID-19 outbreak, specifically hitting pause for 90 days in his state. This is part of a $10B relief package that includes utility payments missed during this outbreak as the state (and all states) are strained by the global pandemic.

This will not only help renters to find stable footing as so many have lost their jobs overnight, but commercial renters (like restaurants) that are worried about being evicted during a time that they were shut down by the government.

Reactions have mostly been positive, but many are still pushing for a freeze on rent, essentially rent forgiveness during this period since mortgage holders can roll their 90 days on to the end of their loan term, but renters cannot.

For many landlords, rent is their exclusive income and they have very few units, but they too will be under a mortgage freeze on their buildings under this Order, providing some relief. Not to mention Tax Day just moved from April 15 to July 15.

Meanwhile, a state group, Housing Justice for All, is calling for the rehousing of every homeless individual using emergency rent assistance and in vacant homes. They cite the risk of viral spread through the homeless shelter system, as well as viral possibilities among homeless people living on the streets.

There is no known answer in this time of being tested, but a freeze on rents and mortgages in New York will likely lead to other governors taking the same route, and renters might be able to breathe a little better soon, especially those who have lost their jobs and independent contractors whose business immediately died on the vine.

We’ll be watching for other states’ reactions to rents and mortgage payments.

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Business Finance

COVID-19: Self employed Texans get some relief benefits

(BUSINESS FINANCE) Self employed? Worried about the corona virus hurting your business? Texas says you’re STILL eligible for cash-related COVID-19 coverage!

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When I heard ‘It’s hard being your own boss’, I thought people meant employee reviews were harder to do since you have to carry both parts of a tough conversation in your home office.

Now, watching as self-employed artists, caterers, events specialists and more are struggling in the wake of the COVID-19 pandemic, the image is less ‘Ha!’ and more ‘AH!’.

It’s bad out there, y’all. And my heart goes out virtually, as per CDC guidelines. But in every viral cloud, there’s a colloidal silver lining. In the great state of Texas, that lining is: You’re probably eligible for disaster-based unemployment.

Yes, really!

Straight from the Texas Workforce Commission’s mouth: If your employment has been affected by the coronavirus (COVID-19), apply for benefits either online at any time using Unemployment Benefits Services or by calling TWC’s Tele-Center at 800-939-6631 from 8 a.m.-6 p.m. Central Time Monday through Friday.

Now how does that cover the self-employed? Simple…kinda.

You’ll need to apply through the Disaster Unemployment Assistance and then take the extra steps of providing different proof than your 9-5 friends.

Firstly, you have to prove you’re self employed. If you’ve been paying you under the table, this is where the poop hits the fan, I’m afraid. The government will need things like (any given one of these): Insurance bills, business license, a recent ad, an invoice, or sales records.

Were you just about to start your own business when all this went down? Fortunately you’re covered too, so long as you have proof of prospective self-employment, say: The deed to a building you just bought, loan documents, ‘Grand Opening’ announcements, and so forth.

For the full list of documents that suffice, visit the TWC site directly and check what proof your pudding needs.

This situation is a Corona-cluster-cussword, but there’s help out there.

Reach out. Grab it. And then wash your hands.

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