On Wednesday night, the first two-way Bitcoin ATM will be deployed in the Middle East. This machine was produced by Robocoin and installed in a stylish hotel in Tel Aviv.
This gives Israeli residents and tourists a new option to use Bitcoin without having to go through online exchanges and bank transfers, or face-to-face transactions.
The goal of ATM and Bitcoin vending machines is a small amount of currency exchange, which is more appropriate and friendly for new users.
ATM is managed by Bitbox, and his CEO Nimrod Gruber said, “The first bitcoin in the Middle East will make it easier for anyone without Bitcoin knowledge to buy and sell Bitcoin 7×24 without going through the bank.”
This also gives tourists a new way to exchange local currency, and also gives foreign workers in Israel a new and simple choice. If there is a bitcoin ATM in the hometown, you can exchange the Israeli currency directly. Bitcoin is then sent to the bitcoin home.
Is the first one?
Although, the debate is not the first actual bitcoin ATM in the Middle East to be public. Dubai company Umbrella demonstrated bitcoin purchase services in one of the cities in April.
Umberella said they eventually plan to introduce a bitcoin purchase system for 300-400 Mango payment kiosks. There, the payment kiosk only allows purchases with bitcoin.
Israel as the center of bitcoin
Israel, the world’s most important technological innovation center besides Silicon Valley, has shown a friendly attitude to Bitcoin so far, and is also the hometown of several venture capital books, such as Mastercoin, Bitcoin. Propagators such as Meni Rosenfeld also originated in Israel.
Michael Eisenberg, a partner of the former VC company Aleph, wrote earlier this year that Israel should use its talents and use corporate dissatisfaction with the US regulatory quagmire to become a bitcoin center.
Who might use it?
Miller calls it “recoverable storage proof” because the Permacoin network provides proof of returning stored files. Regardless of the name of the technology, this may be a problem for big data storage, which is also a problem for some organizations, especially those that do not generate profits.
For example, Internet storage, their goal is to provide “all the knowledge that can be accessed globally.” There are currently more than 10 petabytes of data across multiple data centers. Brewster Kahle, who founded the data center in 1996, said that permacoin has promised. “Distributed storage can be better applied to Internet storage and Wayback machines,” he added.
There are also other optional systems for proof of workload, such as CPU or ASIC, solarcoin only uses miners to trade on pre-excavated coins on the network. These coins are exchanged to prove that solar energy is produced.
The prime king invented by sunny king, used to find the prime number of a particular model, it has achieved the 5th world record. Then, KING admits that these numbers are theoretically significant.
Computational power can also be used in other areas, such as distributed protein folding, as well as looking for radio signals in outer space. The computational tasks of these problems are different from the digital currency issues, and no one can find a way to combine the two. This means that digging digital currency and treating cancer and AIDS are irrelevant.
However, mining and storing data is fine.
“I designed the solution to tightly integrate the performance and security of Bitcoin.” Miller concluded, “If you invest the same amount of money into Permacoin’s equipment and computing power, it can be as safe as Bitcoin.”
In the near future, we will not see any core workload proof mechanism that can change Bitcoin and who accepts bitcoin. Therefore, permacoin is still not implemented. Miller and his team contributed the theory, who can start the work of pacing?