Asia's 1st Public Bitcoin Vending Machine We are excited to bring Asia's 1st Public Bitcoin Vending Machine to Singapore - the fastest, safest and easiest way to get bitcoins.Hello Singapore!As Singaporeans we are excited to bring the one of the first Bitcoin Vending Machines to Singapore.We think this groundbreaking technology could flourish in Asia.Singapore is well suited as one of the freest economies in world and Bitcoin itself brings freedom to its users.We think Bitcoin Vending machines could become an essential part of the Bitcoin infrastructure.We look forward meeting you out there in the Bitcoin community!There you can also read the Bitcoin white paper by Satoshi Nakamoto.Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network.Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part.Bitcoin ATMs in SingaporeTotal number of Bitcoin ATMs / Tellers in Singapore: 2 List of major cities in Singapore with bitcoin ATM installations: Singapore 2

g yet resolved on the next day.which I should expect more ATM's to come allA Singapore company has created a way for customers to buy gold and silver directly from a Lamassu bitcoin ATM.bitcoin fork 2013Quantified Assets, a bitcoin-to-precious metals brokerage, has a prototype machine set up in Singapore's HackerspaceSG, which it is using as a showcase to offer its front-end interface to all 118 Lamassu operators worldwide.let's talk bitcoin 128Founder and CEO Ville Oehman told CoinDesk the first request from another Lamassu operator came within ten minutes of announcing the service.bitcoin documentary redditThe company has added the functionality by building its own fork of Lamassu's software, which is open source.mt gox bitcoin trading

The ATM manufacturer has given its blessing to the extensions.Precious metal purchasing is just one of many potential enhancements to the services bitcoin machines like Lamassu's offer, Oehman said.ethereum value token"Bitcoin vending machines are a great interface to the bitcoin ecosystem, and in the future they will provide a lot more functionalities ... like sending money abroad."g minor bitcoinLamassu CEO Zach Harvey said the company is in communication with Quantitative Assets and will work with its team to get the service integrated with its main platform, so all operators would have the chance to enjoy it."We're excited to see what they've done and how they're received," he added.He did, however, caution against completely replacing the official Lamassu software.While the company is in favor of third parties developing further capabilities for its machines, he said, the company is unable to provide upgrades or support in such cases.

The process works as follows: a customer selects 'Buy Gold/Silver' from the ATM's main screen, creates a QR code and supplies an email address.Quantified Assets then creates an account for them which can be accessed from its site.Next, the customer scans the QR code and inserts their money – the machine's interface will show the current conversion rate.Finally, the customer receives a receipt for the purchase of the amount of metal their money has bought – this is typically a fraction of a gold bar, Oehman said.Quantified, one of the oldest bitcoin businesses in Singapore, is a bitcoin-to-metals only service.A customer inserting fiat currency into a Lamassu machine has their money converted first to bitcoin, which is then processed as a purchase of metal for bitcoin.The physical metal itself is stored with "with reputable, fully insured and fully audited storage providers" in Singapore, as per Quantified's customer conditions.It is fully compliant with all Singapore's KYC-AML procedures.

The company has also developed an online platform for 'crowd-buying' gold and silver, which can also be used to access and manage metal assets purchased via Lamassu machines.Singapore has in recent years established itself as a popular valuable asset logistics and vault storage location, even establishing a free port near Changi Airport and a special police force for its international clientele.Quantified Assets says it plans to integrate hard assets other than just gold and silver into the bitcoin ecosystem, and is in the process of partnering with additional precious metals platforms and vaults to offer increased investment and storage options to its international customers."We are specifically looking for partners in China, Russia and UAE at this time," Oehman said.SINGAPORE – A month after Tembusu Terminals installed Asia’s first bitcoin ATM in Singapore, Coin Republic launched the first cash-dispensing bitcoin ATM in the city-state on Monday.The machine is located at Bartini Kitchen at 29 Boon Tat Street, a restaurant that accepts bitcoin as payment and anticipates an increase in foot traffic from hosting the ATM.

So far, eight bitcoin ATMs have been launched in Singapore, with Tembusu stating that it plans to roll out at least 100 machines by the end of the year.Unlike the other seven existing machines, the latest bitcoin ATM by Coin Republic operates in two directions — users can both purchase bitcoins with cash, and withdraw Singaporean dollars from their bitcoin wallets.The other seven machines in Singapore to date only allow for a one-way exchange of cash into bitcoins.Users will be able to withdraw cash at Coin Republic’s new ATM quickly, bypassing the waiting time of at least one day required at bitcoin exchanges, which are dependent on wire-transfer processing times.RELATED: Bitcoin Exchange BTC China Resumes RMB-Based Deposits Alongside the digital currency’s increasing prominence, bitcoin has provoked its own fair share of controversy.The untraceable nature of the electronic currency makes it an attractive medium for illegal activities, such as money laundering or terrorist financing, and governments across the world are still grappling with the issue of how to regulate it and whether it should be allowed as a medium of exchange at all.

The Monetary Authority of Singapore (MAS) announced this month that it would roll out laws requiring bitcoin intermediaries (including bitcoin vending machines) to verify customers’ identities — these “Know Your Customer” (KYC) process features will strip away some of the anonymity behind bitcoin trading.Bitcoin intermediaries will also need to report suspicious activity to the Suspicious Transaction Reporting Office.The new Coin Republic ATM already incorporates a camera, palm-print scanner, and ID card reader, though these identification features are currently disabled until the MAS’s proposed regulations are made clear and come into effect within the next 12 months.“The requirements will be similar to those imposed on money changers and remittance businesses who undertake cash transactions,” the MAS added in its press statement.The Authority has stopped short of regulating the currency itself, as it does not consider bitcoin to be a security or legal tender, and will not monitor bitcoin intermediaries.

It has urged consumers to be cautious when transacting with bitcoins.Aside from these issues, hacking concerns have also loomed large over the currency, especially after Mt Gox, the leading bitcoin exchange in Japan, filed for bankruptcy in February.Mt Gox claimed that hackers stole over US$400 million worth of bitcoin, and is currently defending a class-action lawsuit in the U.S.Many mainstream economists have also expressed doubts as to the long-term viability of a currency that is said to be deflationary (as only a finite number of bitcoins can ever be “mined”), which incentivizes people to hoard bitcoins.Bitcoin has also experienced wild fluctuations in value, further undermining confidence in the digital currency.Yet despite hacking and economic concerns, circulation of the currency has increased dramatically.The total value of bitcoins in circulation has reached almost US$8 billion today, up 16-fold from just US$490 million a year ago.Whether the currency gains widespread acceptance in the long run remains to be seen, but businesses and authorities are certainly taking notice.