Dogecoin Co-Creator Billy Markus Calls Bitcoin ATMs A 'RipOff'

Billy Markus, the co-creator of Dogecoin DOGE/USD and famously known as Shibetoshi Nakamoto, on Sunday expressed his discontent with Bitcoin BTC/USD ATMs, labeling them as ripoffs. 

The conversation unfolded when a user by the handle ‘Sir Doge of the Coin' on the social media platform X shared a photo of a store with a poster advertising a “Bitcoin ATM inside.”

Responding to the post, Markus bluntly stated, “they’re ripoffs.” The user, going by the name Sir Doge of the Coin, replied, “It didn’t work lol,” implying that their attempt to use the Bitcoin ATM was unsuccessful.

they're ripoffs

— Shibetoshi Nakamoto (@BillyM2k) October 29, 2023

Bitcoin ATMs allow individuals to convert fiat currencies into cryptocurrencies, serving as a physical gateway for adoption in the crypto space. 

CoinATM radar data reveals that there are currently approximately 27,032 Bitcoin ATMs in the United States. Additionally, the number of Bitcoin ATMs is growing at a rate of 3.7 per day.

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Why It Matters: However, the world of Bitcoin ATMs is not without its challenges. In March, a hacker gained access to sensitive information from Bitcoin ATM manufacturer General Bytes, including passwords, private keys, and funds. Such incidents highlight the security risks associated with these machines.

In a separate exchange on X, Markus shared his views on the future of cryptocurrencies and shed light on his relationship with Dogecoin. Responding to The Coach 𝕏Đ (also known as @thedogecoach), Markus expressed a hope for Bitcoin’s price to surge to a trillion dollars, stating that he currently holds 0.01 bitcoin.

The DOGE co-creator wrote on X, “I have 0.01 bitcoin now so I hope it goes to a trillion dollars.” To this, thedogecoach responded, “It slightly hurts me that you don’t love Doge.  You created something that brings many of us together and may well be a vehicle that we can all exchange on X.”

Price Action: At the time of writing, DOGE was trading at $0.68, up 0.51% in the last 24 hours, according to Benzinga Pro.

Photo by John Paul Cuvinar on Unsplash

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