Jeff Berwick Announces Opening Of First Bitcoin ATM in Cyprus
Jeff Berwick, founder of StockHouse.com and CEO of TDV Media, announced Monday his plans to open the world’s first Bitcoin ATM in Cyprus, citing the ongoing bank bailout, bank closures and capital controls now being pushed in that country. According to Berwick, who sold Stockhouse last decade which at the peak of the tech bubble was worth $240 million, Bitcoin ATM has the world’s first software enabling a two-way, automated Bitcoin market.
Last Friday, Cyprus announced a new bailout all inclusive of a levy of upwards of 15.26% on all deposits. On Monday, the banks shut down until Thursday, but by week’s end uncertainty shrouded the country as to when their ATMs would be back online. Over the weekend, it was announced the bank’s second biggest bank would be shutdown.
Interest in Bitcoin has soared, especially in southern Europe. As Yahoo! reports, downloads of Bitcoin-related apps started rising in Spain over the weekend. For instance, Bitcoin Gold spiked in the Spanish iPhone Finance category from 498 to 72, while another app called Bitcoin Ticket zoomed from 526-52 in just one day. Leading service, Bitcoin App, jumped from 194 to 151 from Friday and Sunday while Spaniards took notice of Cyprus.
Fox Business news wrote that Bitcoin
“is emerging as an apparent winner from the drama surrounding the bailout of tiny Cyprus.”
With Bitcoin ATM, Jeff Berwick announced plans to place a bi-directional (bitcoin for cash, cash for bitcoin) dispenser as part of the launch of his latest venture. Over the weekend, he hinted at his venture in his blog for the Dollar Vigilante:
"I've even recently relayed to TDV subscribers that I see bitcoin-related businesses as being the next multi-billion dollar (or multi-million bitcoin) businesses and will be relaying many of my business ideas to them over the coming weeks.
And, to top it off, we have already started some game-changing bitcoin businesses that I think will shock the world. I'll be announcing one of them, related to the crisis in Cyprus, on Monday here at the TDV blog."
According to the website, Bitcoin ATM is seeking investments and licensees to bring their technology to a town or city near you. You can email the company directly at bitcoinatm(at)bitcoinatm(at)com.
Related News
Liberal and leftist hypocrisy was exposed when millions took to the streets to protest Donald Trump's triumphant victory over Hillary Clinton in the recent U.S. elections. In response to the protest, Jeff Berwick, a Canadian Bitcoin enthusiast, entrepreneur, libertarian and anarcho activist, urged those who don’t want Trump as their president to quit paying taxes. Cointelegraph spoke to Jeff Berwick. Don’t Pay Taxes to Trump. Cointelegraph: You just started a movement on Facebook rallying Liberals to stop paying taxes to stop Trump. What’s your motivation? Jeff Berwick: It actually began....
Canadian entrepreneur Jeff Berwick has a reputation which undoubtedly precedes him. Known since the mid-90s when he founded Canada's largest website stockhouse.com, has gained increasing notoriety as an authority on a wide range of economic spheres, from finance management to currency speculation. Awarded the Ernst & Young Entrepreneur of the Year prize in 1999, Berwick more recently founded his website dollarvigilante.com, as well as offering private advice on second passport acquisition and wealth management through his TDV Media & Services LLC since 2010. He is heavily involved in....
This past spring the creator of the Dollar Vigilante publication and podcast Jeff Berwick gave instructions on how to become a perpetual traveler and legally avoid paying taxes. Berwick is an anarcho-capitalist that believes a government is an unnecessary evil and that taxation is theft. Bitcoin is one tool that can be utilized to accomplish the goal of....
If a Canadian entrepreneur has his way, we could soon see the bitcoin equivalent of a cash machine gracing our shopping malls. Jeff Berwick plans to install a bitcoin ATM in San Diego early next month. The machine will be similar to a regular ATM, but instead of simply dispensing money from a bank account, it will serve as a point of exchange between bitcoins and US dollars or Euros. Users will be able to insert either of the two physical currencies in any denomination, and enter a bitcoin address by scanning a QR code, Berwick says. The ATM will then deliver the bitcoins to their account.....
The race to produce commercial bitcoin ATMs is heating up. A group of entrepreneurs is set to showcase one this week. Robocoin Kiosk, a machine that lets people buy and sell bitcoins, will be demonstrated at the Bitcoin 2013 conference this weekend. The machine lets users insert dollars and then retrieve bitcoins by scanning a QR code with their bitcoin address. Alternatively, the Mt. Gox-linked device enables customers to redeem bitcoins for US dollars by scanning an address displayed on the kiosk's screen with their mobile wallet. They can then scan a receipt printed by the kiosk to....