device where you deposit cash – and get bitcoins deposited into your cell phone in exchange. The digital currency can then be used to shop online, or for a simple way to transfer money to recipients in other countries. No bank is linked to the currency, which only exists in digital form.
19-year-old Louis Oberg became interested in currency as two years ago, and decided recently to buy in the first bitcoin-machine to Sweden. Now it is in the pipeline, reported Sveriges Radio this morning.
– It’s a funny thing. But right now it’s also quite difficult to get hold of bitcoins. Then just a vending machine to be something that helps with that, he says to Swedish Radio.
Although the machine is owned by Louis Oberg, will be most likely to be driven by the company Safello, specializing in the implementation of bitcoin transactions. Initially, the machine will be at the Company’s offices, located in the mall in Stockholm. Later Safello hope that the machine will be available to the public.
– First and foremost, we need to let the lawyers look at how machine relates to the existing laws on money laundering and hear what the FSA says. Bitcoin is cash on the web, and the machine is like a bridge between different cash system. It’s a whole new area, we must examine the legal bits closer, says Emil Oldenburg, CIO and co-founder of Safello.
which legal problem may be?
– When you deposit money in the bank, the bank is obliged to ask questions. We have the same financial institution demands on us. It may be that we need to ask questions and identification of those who use the machine.
Bitcoin has gone a little roller coaster, it has risen like a rocket and sometimes plummeted in value sometimes. Do not do that bitcoin uncertain?
– It has just dropped in value when there has been bubbles, just as it can get in the stock market or commodities before the market stabilizes.
Where bitcoin used?
– It is ideal for online trading. There is an E-baykopia for bitcoins where you can buy everything. Many niche online stores also accept bitcoin and offer discounts. But so far, the most computer gadgets that you can buy, in that it is still a currency that attract tech-savvy people.
Do not currency’s volatility is difficult for online stores to put the right price?
– It does not matter too much. Webshops writes prices in euros or dollars, then the transaction goes into bitcoins via a payment provider that unlocks the value of bitcoins in 15 minutes. The vendor does not take a risk without getting the amount in euros or dollars it has set out. Bitcoins are used more as a financial protocol for transferring money, this is where the great strength there.
– There is also the trend we see in China, where the biggest bitcoinbörsen’s current situation. There is a common way to transfer money abroad. By switching to the bitcoins and send them to the transfer done in half a day and at a significantly lower cost than through banks.
What disadvantages with bitcoins?
– There are few, the biggest is that it is not possible to reverse the transactions. It is an advantage in some cases, but if the money is sent to the wrong recipient, they can not get back.
How will you make money in the vending machine?
– We make money on the exchange rates between the euro and crowns. This means that it does not matter how the value of bitcoin change.
Which currencies will be able to use the vending machine?
– It has been configured to accept dollars and euros. But it is possible to calibrate it to other currencies.
When the dispenser may be available to the public?
– It is too early to say.
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