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> These ATMs are no different than the shenanigans that Uber got up to: deliberately skirting or outright violating not just the intent but letter of the law in
by csdvrx 5y ago
> These ATMs are no different than the shenanigans that Uber got up to: deliberately skirting or outright violating not just the intent but letter of the law in order to "disrupt".
Then, given Uber success in making legislation evolve, crypto ATMs will receive at worst a slap on the hand, then be fully legalized in a few years, while the existing ATMs will become a thing of the past for a new generation of customers.
(I have no idea how it's in continental Europe or the UK, but that how it's here in the US)
- barrucadu 5y agoWhy would existing ATMs become a thing of the past? The economy isn't going to switch from cash to crypto in a few years time.
- csdvrx 5y ago> Why would existing ATMs become a thing of the past? I just followed up on the Uber analogy: the only people I know to still be using regular taxis are old people. When they retire, I think Uber/Lyft will dominate the market. > The economy isn't going to switch from cash to crypto in a few years time. Likewise, the economy is not going to fully deprecate taxis: in a few years time, there will still be taxis. Then maybe just in some high density cities like NYC or London. But I think the business model of a taxi you can't book from a smartphone is going to end up very dead
- Dracophoenix 5y agoATMs as we understand them might not exist at that point. They'll become the financial equivalent of the payphone. Banks will be 99% web-based and money will be exchanged in the form of digital dollars.