Lamassu to Unveil Production Bitcoin Machine ATM at Bitcoin 2013 Conference in San Jose

Lamassu to Unveil Production Bitcoin Machine ATM at Bitcoin 2013 Conference in San Jose

Lamassu, the Bitcoin startup that presented the world’s first operational Bitcoin ATM at New Hampshire’s Liberty Forum, announced they will be presenting their production Bitcoin Machine on May 17th at the Bitcoin Foundation’s Bitcoin 2013 conference.

The Bitcoin Machine is a tabletop device built from the ground up to serve one purpose and one purpose alone: the automatic exchange of bitcoins for currency notes. The concept prototype presented in February’s Liberty Forum was fully operational and electronically dispensed over $5,500 worth of Bitcoin, which are now worth approximately $25,000.

This compact machine can be programmed to accept any world currency, and border cities will be able to simultaneously accept multiple currencies, such as US dollars, Canadian dollars and Euros. Due to the reduced size and weight of the Bitcoin Machine, it can be shipped via post or courier services to any location in the world.

“Vendors will profit both from commissions on the automatic exchange, and by accepting Bitcoin at their establishment in return for goods or services,” said Lamassu co-founder Zach Harvey.

“Additionally, the price point is quite low compared to legacy ATMs, so it’s easy for the vendor to make the investment back.”

Lamassu’s concept garnered attention from media outlets such as CNET, Reason, and American Banker and created quite a bit of buzz on sites like Slashdot, Reddit and various underground forums.

The response to the concept prototype took Harvey by surprise.

“We were flabbergasted by the media attention following the Liberty Forum, and the emails just started flowing in,” Harvey recalls.

“High ranking investors, entrepreneurs interested in cooperation, curious individuals. I think people are really starting to understand the economic and technological importance of Bitcoin, and our machine is the quickest way to obtain them."

Lamassu has received dozens of inquiries from all corners of the world interested in providing distribution and leasing services for the Bitcoin Machine. With Bitcoin exchanges facing banking difficulties and continued hacking attempts, the Bitcoin Machine offers a more decentralized approach that could enable purchasing of Bitcoin anywhere on the planet. No banks or paperwork are involved and the entire process, from cash to bitcoins, takes just 15 seconds.

Harvey expects to begin accepting pre-orders in early June.


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