Bitcoin ATMs
August 5, 2020
Last year I was in Prague and I wanted to see if Bitcoin automatic teller machines were still in operation. I located three in 2016, and I was curious. There were some ATMs I could locate, but the 2016 gizmos were gone. According to CoinATMRadar, there are several in Louisville, Kentucky. I thought about digital currency after I read “Bitcoin ATM Locations Reaching 9,000 Worldwide.” The write up reports:
There are currently 8,947 crypto currency ATMs and 211,239 non-ATM locations you can buy or sell crypto currencies at across 71 countries, according to crypto currency ATM tracking website Coinatmradar. In July, the number of crypto ATMs rose from 8,490 to 8,919, the site revealed Monday. While there were 544 new bitcoin ATMs, 115 machines were shut down during the month, leaving a net growth of 429 machines. The U.S. continues to lead in the number of bitcoin ATMs (BTMs). At the time of this writing, there are 6,879 machines in the U.S., most of which are located in Los Angeles, Chicago, Miami, Houston, Dallas, and Atlanta.
Several questions:
- If you had your taxes prepared by a CPA in the US, were you asked, “Do you have a digital currency account?”
- If you have a digital currency account, did you report the transactions per US tax regulations?
- Does possession of a digital currency account provide a signal about one’s honesty or dishonesty?
- What percentage of Bitcoin transactions are related to a criminal activity?
DarkCyber thinks that digital currency ATMs provides some helpful insight into the behaviors of their users.
Stephen E Arnold, August 5, 2020
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