Another country has their “Bitcoin Aha! Moment” – it’s Venezuela’s turn.

Articles like this should give us pause.. as country after country experiences local currency crashes, will they all move to Bitcoin?

Taken from the AP Wire article, “Venezuelans Seeing Bitcoin Boom as Survival, Not Speculation

 

CARACAS, Venezuela — In the last month, John Villar has bought two plane tickets to Colombia, purchased his wife’s medication and paid the employees of his startup business in Venezuela — all in bitcoin.

As Venezuela’s national currency loses value at a catastrophic rate, thousands have begun turning to the world of cryptocurrency to salvage what little value remains from their increasingly worthless bolivars.

“This is not a matter of politics,” Villar said. “This is a matter of survival.”

Both poor Venezuelan retirees and wealthy business leaders are converting their bolivars into bitcoins online and then using the digital currency to pay for everything from doctor appointments and honeymoons to motorcycles and artisanal beer. The transactions are relatively swift for anyone with a smartphone: Websites like LocalBitcoin and Colibit function as exchanges where Venezuelans can buy and sell bitcoins using a local bank account.

>> rest of article <<<

For Villar, the stakes are especially high, and not just for his business. An engineer who once ran a biometrics enterprise, he is staking his financial future on the development of a game involving an alternative cryptocurrency called PepeCash. A dozen employees operate from a small office filled with computers in an industrial community east of the capital. All receive part of their salary in bitcoin. His wife, also an engineer, is now largely bound to a wheelchair.

“At this moment,” he said. “I don’t have a single bolivar.”

 

We’ve added new locations!

Exciting news! We’ve added new locations to our BitCoin ATM network!

Find our machines at:

  • Seattle – Southcenter Mall
  • Seattle – Westlake Center
  • Olympia – Capital Mall
  • Lynnwood – 76 Gas Station near Alderwood Mall
  • Kirkland – Chevron Extra Mile
  • Tulalip – Seattle Premium Outlets

Find more information, including addresses and access hours here: –> http://www.coinmekiosk.com/location

New Verification Methods Coming! #Robocoin #ATM

PointOfCoin.com uses Robocoin ATM’s to provide 2-way Bitcoin transactions. Robocoin CTO, John Russell, sent out info today about expanding their verification process to include social network options like Facebook:

"Those who wish to become verified to transact with government currency now have a new option to do so from the website by simply authenticating their social network and submitting a picture of a government issued photo ID. Although new accounts can only be created in-person or an invite code for the time being, this can prove to be useful for those whose application was denied when doing so from a machine.
This feature expands our verification process from just in-person enrollments at machines and will be the primary means of enrollment when public registration is opened from the website to everyone."

It’s great to see the feature growth! Exciting times to be involved in Bitcoin!