On February 16th, 2013, nearly two months before one bitcoin hit $266.00 in value, three brave entrepreneurs unveiled their Bitcoin Machine to the public. The venue was the 2013 International Young Americans for Liberty Conference held in Washington D.C. and the three early adopters were Zach and Josh Harvey, and Matt Whitlock of Lamassu BTC Ventures. One week later they debuted it at the 2013 Liberty Forum in New Hampshire and $5500 worth of Bitcoin was purchased, at the time bitcoin was rough $30.00 each.
The Prototype Bitcoin Machine debut in Washington D.C. Feb 16th, 2013. From left to right: Matt Whitlock, Josh Harvey, Zach Harvey (COURTESY)
The three returned to the development of the machine and while they fine tuned the design Bitcoin took off! On April 10th, 2013 at just after 12:00pm UTC bitcoin hit $266.00 in value and the world took notice! A week earlier the situation in Cyprus was heating up and the talk of the worlds first Bitcoin ATM started to happen. The press jumped on this story and soon Jeff Berwick was known as the Bitcoin ATM guy with quotes like, “we already have orders from 30+ countries”.
These sort of stories continue as the idea of a bitcoin ATM is exciting, this one is from May 3rd, 2013: San Diego May Get World’s First Bitcoin ATM. The press is hungry for Bitcoin news and it’s no wonder, Bitcoin is fast becoming the hip trend to jump on.
The Bitcoin Machine
Lamassu BTC pushed to finished their development and the rise of bitcoin only intensified the demand for a machine that could accept Dollars and vend Bitcoins. More recently exchange crashes, DDoS attacks, and bank account closings have caused some difficulty for consumers to get their money in and out of Bitcoin. The Bitcoin Machine will help with one of those problems leaving wire transfers and a variety of non-bank methods for changing your Bitcoin into Dollars.
The Bitcoin Machine (courtesy of Lamassu BTC)
The Bitcoin Machine is going through the final stages of testing and development in Manchester, NH. The machine is designed to be a counter-top unit kept indoors and under supervision. It works with the consumers smartphone camera and utilizes a QR code to relay wallet address information. As you can see from the photograph, some effort was put into making sure the device was not only secure and functional but also aesthetically pleasing. The company hopes to start taking pre-orders as early as this summer.
Neocash Radio had a chance to conduct a phone interview with one of the owners, Zach Harvey for Episode 3 of the podcast. We have packaged the interview in a stand-alone format for easy listening and sharing. Take a listen!