Friday, August 23, 2013

The World's First Bitcoin ATM May End Up in Cash-Strapped Cyprus

Bitcoin ATMs seem to be the new fad, and according to this article, one may wind up in Cyprus.

  Charging ahead of the bitcoin start-up stampede, Jeff Berwick (Founder of and TDV Media), has announced the debut of Bitcoin ATM, with hope to launch its first machine in Cyprus. This couldn't be more timely, as Antreas Artemis, head of the island nation's largest bank, has suddenly resigned amidst a banking crisis in the small Mediterranean country.
To try to quell the crisis, which has led some to speculate that Cyprus might make a disastrous exit from the eurozone, the country will now enforce weekly withdrawal limits. Banks, meanwhile, are closed until Thursday, and Cyprus's finance minister has said that bank accounts with 100,000 euros or more may see up to 40 percent of those funds converted into bank shares.

Don't forget to check out ATMs for Amateurs by Josef Toth.

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