California’s First Bitcoin ATM Opens in Mountain View Hacker Dojo
Hacker Dojo Bitcoin ATM
Mountain View, California has become host to the state’s first bitcoin ATM. The machine was installed in Mountain View’s Hacker Dojo, which acts as a community center for hackers and thinkers. Executive director of the Hacker Dojo, Brian Rouch, plans on spreading bitcoin awareness. He says:
“Bitcoin has long been discussed as a possible currency of the future, but has been criticized for its lack of accessibility for lay people.”
Rouch hopes that with the addition of the bitcoin ATM, more computer programmers will take a liking to the digital currency space.
The ATM is accessible all-day everyday, and sits in the Dojo’s main lobby, protected by a security camera’s watchful eye. Members are allowed to use the facility 24/7, and guests can visit between 8AM and 10PM.
The bitcoin ATM made its debut at Mountain View’s 500 Startups Bitcoin Conference on March 20.
What makes this bitcoin ATM experience special is that a user is greeted by a person, ready to answer any questions. Additionally, the ATM uses “biometric authentification”, allowing for extra security. Users will need their government issued ID’s, a personal verification number, and will have their face scanned and palm printed before having access to the bitcoin hardware.
The machine is operated by Coinage, LLC. President of Coinage, Cary Peters says it is convenient to exchange cash to bitcoin with the ATM model. He feels the transaction is much simpler than dealing with stock markets. Peters says:
“It’s a true two-way, cash-in, cash-out machine.”
Peters’ machine is a Robocoin manufactured model, which was made in Las Vegas. Robocoin currently has bitcoin ATMs installed around Vancouver, England and Singapore.
Coinage officials say that the company complies with government standards. On behalf of security and money laundering, Hacker Dojo representatives stated:
“Coinage complies with best practices from the Financial Crimes Enforcement Network of the U.S Dept. of the Treasury and adheres to industry leading Anti-Money Laundering and Know Your Customer standards.”
The Coinage president includes that there is no quicker or cheaper way to transfer money across the world than with the use of bitcoin. On the topic of bitcoin’s volatility, Peters compares bitcoin fluctuations to that of precious metals and says:
“It’s not something for the person who is living month-to-month and doesn’t have money to risk in a high-risk asset. It could go to zero, it could go to $500,000, no one knows.”
He also says that having the ATM sanctioned at the Hacker Dojo near free-thinkers can allow them to come up with innovative bitcoin ideas. Interestingly enough, Peters anticipates a “Bitcoin University” to come to pass one day.
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