First Ever Bitcoin ATM to Open in Venezuela within 2 Weeks

  • There are currently 4,195 Bitcoin ATMs (BTM) installed worldwide in 76 different countries.
  • Local news sources reported that first ever BTM has arrived in Venezuela and will be launched in next 2 weeks.

Jorge Farias, the CEO of Cryptobuyer, a company that “helps people in countries with high levels of hyperinflation” by providing them with convenient access to crypto ATMs, has revealed that the first ever Bitcoin (BTC) ATM has arrived in Venezuela.

Farias, who is also the co-founder of PanaFintech, a Panama-based firm that offers educational courses on “financial innovation”, said during an interview with Union Radio: 

We are going to install the first cryptocurrency ATM in Venezuela over the course of the next two weeks.

Bitcoin ATM In Its "Final Test Stage"

Farias also mentioned that the Bitcoin ATM (BTM) had already been physically installed in Caracas, Venezuela’s capital city. He added that the installation process was “in its final test stage” and his firm, CryptoBuyer, would be announcing the official launch of the BTM on social media networks.

Cryptobuyer has previously set up five BTMs in Panama city and the company serves as a merchant acceptance platform for bitcoin, litecoin (LTC), and dash (DASH) payments. As CryptoGlobe reported in May 2018, there were 3,028 BTMs worldwide, according to Coin ATM Radar. This number has grown considerably as the BTM tracking website shows there are now 4,195 BTMs throughout the world.

These BTMs are located in 76 different countries and are managed by 526 organizations. Crypto analytics firm, Data Light reported in December 2018 that an average of 6 digital currency ATMs were installed per day in 2018.

Coinme, Coinstar Partner To Make Buying Bitcoin Easier

Data Light also found that nearly all the BTMs supported bitcoin (BTC) and over half of them support litecoin. Nearly 2,000 support Ethereum’s native token, ether (ETH) and many of the BTMs support bitcoin cash (BCH). Privacy-focused coins such as monero (XMR), dash, and zcash (ZEC) are supported by some BTMs as well.

As covered on CryptoGlobe, Coinme, a US-based licensed BTM operator, and Coinstar, a company that manages about 20,000 fully-automated self-service coin-counting kiosks worldwide, announced they would partner to allow users to buy BTC with fiat money (USD).

Bitcoin can be bought "at participating retailers that have Coinstar kiosks enabled for the Coinme product", Coinme’s website explains. However, only paper money (and not coins) can be used to purchase BTC from these kiosks. Currently, Coinstar operates hundreds of kiosks in eleven US states including Arizona, California, Colorado, Illinois, Indiana, Kansas, Louisiana, New Mexico, Texas, Utah, and Washington.

Bitcoin Mining Pool Tries to Help Tone Vays Win $10K Bet Against Roger Ver

Cryptocurrency mining pool SlushPool has recently manually added a BTC transaction into a block to help Tone Vays, a derivatives trader and analyst, win a wager mage against BCH proponent Roger Ver.

The wager was made at the 2019 Malta AI & Blockchain Summit, during a debate between bitcoin (BTC) proponent Tone Vays and Bitcoin.com CEO and BCH advocate Roger Ver. In it, Ver argued BTC transactions are too expensive for business use due to the cryptocurrency’s small block size.

Vays, on the other hand, argued segregated witness (SegWit) and second-layer scaling solutions like the Lightning Network allow users to make small transactions without paying high fees, and that he has been using BTC on-chain without paying too much for transactions.

The debate ended up seeing Vays send Roger Ver $5 worth of BTC with a one satoshi per byte transactions fee – equal to the fees paid on the Bitcoin Cash chain – to see if it would confirm the same day. If it did, the CEO of Bitcoin.com claimed he would donate $10,000 to a charity of Vays’ choice.

During the debate, both parties noted the transaction was “priority 23,836 out of 24,355 transactions,” meaning that most transactions on the Bitcoin blockchain had to clear before miners picked that one up, at least according to fees paid for transactions.

As Vays soon noted on social media the transaction cleared after 10 hours. Some, however, found it strange. Cobra Bitcoin, the pseudonymous co-owner of Bitcoin.org and Bitcointalk, pointed out on social media that SlushPool – the mining pool that found the block the transaction was included in – manually added it to help Vays win the bet.

Cobra Bitcoin figured it wasn’t mined “naturally” as it was the second transaction included in the block – right after the coinbase transaction – despite the fee being less than 1% of that of all other transactions included in the block.

On Reddit, users pointed this out and accused SlushPool of manually adding the transaction. The mining pool, according to some users, is known for supporting BTC and being against Bitcoin Cash.

Should Roger Ver Pay?

The wager quickly became a controversial topic that seems to bring back memories of the scaling debate that was going on before Bitcoin Cash forked off of the Bitcoin network back in August of 2017.

Some argue that Roger Ver’s point stands as the transaction wasn’t “naturally” confirmed, but manually included in a block. Moreover the CEO of Bitcoin.com claimed he’d donate the money if it confirmed that day, and when the transaction did confirm it was past midnight in Malta.

On the other hand, some claim the transaction did go through anyway, and as such Roger Ver should donate the funds to a charity of Tone Vays’ choice. Moreover, Vays himself argued BCH supporters could have spammed the BTC mempool with two satoshis per byte transactions to stop his from clearing on time.

On Twitter, Vays created a poll that was retweeted by SlushPool and admitted the mining pool did prioritize the transaction. It currently shows most users believe Roger Ver should donate the funds. As one commenter pointed out, however, the results may change if Ver and other BCH supporters retweet the poll.