Bitcoin ATMs in Australia Before End of March; Controversial Jamie McIntyre Pushes for More Machines
By Reissa Su | March 26, 2014 6:01 PM EST
The arrival of Australia’s first Bitcoin ATM is on its final stages with a controversial supporter among one of the importers. According to local reports, Australian Bitcoin ATMs and Krypto Currency Solutions have both confirmed that each will put up one ATM in Sydney’s CBD days from now.
Some of Bitcoin enthusiast Mike Caldwell's coins are pictured at his office in Sandy, Utah, September 17, 2013.REUTERS/Jim Urquhart
The controversial founder of Australian Bitcoin ATMs is Jamie McIntyre who describes himself as a financial educator from the Gold Coast. He has had encounters with financial regulator ASIC. Mr McIntyre, a controversial figurehead who turned politician, had arranged for ex-governor of California Arnold Schwarzenegger to come to Australia for a motivational speaking tour in 2013.
In 2005, ASIC gave an injunction to Mr McIntyre for arranging and holding live seminars in Australia which gave financial advice on securities. He is scheduled to host the Bitcoin Global Conference in Melbourne on March 28 and 29.
An Australian Bitcoin ATMs representative revealed the first Bitcoin ATMM will be installed in Sydney’s Pitt Street Mall before March ends. According to Robert Masters, CEO of Kyrpto Currency Solutions, their first Bitcoin machine will be operational in the coming weeks.
Australian Bitcoin ATMs is working with suppliers in Canada and Israel for its plans to launch Bitcoin ATMs worldwide. The company is planning to roll out 100 Bitcoin ATMs in Australia.
Robocoin, the company behind Bitcoin ATMs, is planning to expand to 10 more locations around the world. The company has announced it will be shipping its Bitcoin ATMs to Boston and Seattle in the United States. More machines are heading to the UK, Australia, Italy, Ireland, Israel, Czech Republic, Japan and Singapore.
In February, Robocoin installed its first Bitcoin ATM in the U.S. at the HandleBar tavern in Austin. The company's first ever Bitcoin ATM was placed in Vancouver on Oct 13 with Hong Kong and Taiwan following in January 2014.
The Bitcoin ATMs work by connecting to an international Bitcoin exchange and processes the transaction on their behalf. The ATM will release the cash once the Bitcoin exchange is successful. Those who want to buy Bitcoin can simply do so using the ATM and pay in cash.
To contact the editor, e-mail:
Most Popular Slideshows
- Angelina Jolie & Brad Pitt Heads to Malta For New Movie After A Whirlwind French Wedding [PHOTOS]
- Kate Middleton’s Mom Accused Of Being A Social Climber, Prince George Not Seen By Relatives
- 2014 US Open Update (Day 4 - Men's Singles): Murray, Djokovic, Raonic and Isner Advance to 3rd Round [PHOTOS]
- Top 5 Richest Tennis Athletes
Join the Conversation
- Centerplate CEO Des Hague Caught Abusing Dog In Vancouver Building Elevator [VIDEO]
- ISIS Video of Slain Syrian Soldiers Raises Doubts; Syrian Gov't Demands Release of Captured Troops
- The Most Insane Facts About The American Civil War That You May Not Know
- Viral Video Kevin Droniak Grandma: Teenager Shows Grandma Their Videos Together, Grandma Gives Priceless Reaction
- Major Highlights On 1400 Minor’s Sex Assault
- Apple iWatch is iPhone 6 Accessory on Sept 19 Release Date: 6 Confirmed Specs & Features
- Canada Vs Russia War Erupts Via Twitter on Russia-Not Russia Maps
- James Foley Torture Involves CIA Waterboarding Technique
- Product Recall Alert: Hewlett-Packard Pulls Out 6M Power Cords from US, Canada Over Fire Hazard Concerns, Australia Also Affected
- ISIS Wants $6.6M and Release of Aafia Siddiqui in Exchange of Head of Female US Humanitarian Aid Worker, 1st American Fighting for Jihadis Dead
- Malaysia Airlines to Axe 4,000 Employees, Including CEO; Suspends Trading of Shares
- Better Market Your Uranium Someplace Else, Japan Appetite No Longer Huge as Before – Former PM Tells Australia Queensland Premier Campbell Newman