Despite the popularity of the world’s first Bitcoin ATM, located in a Vancover coffee shop, the competition against transaction fees have made it necessary to supervise all customers using the machine, according to WIRED magazine.
After Mitchell Demeter and Jackson Warren installed the machine, they found out that a man had been camping on location to offer to trade currency without transaction fees which was hurting their business. In response, Warren and Demeter hired a chaperon for the machine to ensure that customers could use it without disturbance.
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“It shows that although this digital currency is maturing, it’s still very much a wild west,” according to WIRED writer Robert McMillan. “There are countless holes in the vast system that is bitcoin, and so many people are looking to exploit them, both online and off.”
To read more about the first Bitcoin ATM click here.
