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Bitcoin ATM dispenses cash in less than a minute

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A new model of ATM machine, currently in use in Vancouver, Canada, turns funds in an online bitcoin account into cash money in less than a minute. This efficient conversion helps to remove one of the stumbling blocks for digital currency and virtually eliminates the concern that bitcoin is not liquid enough to be a viable contender to traditional currency.

A user by the name of Simon Painter uploaded the video on April 20, 2014. In the video, an unknown ATM user can be seen navigating the screen to access his bitcoin account and select to withdraw funds in cash. This is one of the first documented examples of just how easy it can be to access bitcoin funds and convert them back into spendable cash, even when a merchant or service provider does not accept bitcoin.



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