The Bitcoin ATM

"Jeff Berwick is the founder of BitcoinATM, a company that aims to make real-world transactions with the stateless online currency much easier, faster, and more convenient. In the wake of the banking crisis in Cyprus—which at one point prompted the government to shut down all the country’s ATMs—Bitcoin boomed, hitting a high of $266 in April, more than 10 times its value a month before. Berwick announced plans to place a bidirectional ATM in the troubled country. The machine would allow anyone to exchange the cash for bitcoins, and convert the bitcoins in their digital wallets into cash. He also announced his intention to install a BitcoinATM in Los Angeles."