Recently, Robocoin, the maker of the virtual currency Bitcoin, has announced the arrival of Bitcoin ATMs in the United States. Several ATMs have popped up along the East Coast as well as the Sun Belt, just a year after the first ATM was placed in Vancouver. Most ATMs will only dispense the currency for cash, but several others will take Bitcoins for cash, a new move by the Las Vegas based company.

Bitcoin was first launched as a primarily online currency four years ago by Robocoin. It has since grown and is now accepted by many businesses as payment, which has in part led to the expansion of the company and the arrival of the ATMs., which use face and palm recognition technology, along with a government ID, to create an exceptionally safe account. Once one is logged in, one can then add money to a Bitcoin “wallet” or withdraw money to their smartphone via a mobile app.

 Bitcoin has grown very popular in recent years and is now trading at over $600 a coin, though it was at one point last year over $1000 a coin. It has done well due to the ease of its use between two parties.

 Antonis Polemitis said in a USA Today article, “It really allows people to interact with each other to exchange value – whether it’s currency or other types of assets – without a central party in the middle,” he added, “It’s mind blowing.” The popularity of this virtual currency has largely created the demand for Bitcoin ATMs.

 Many expect that, with Bitcoin’s success in the past couple years, the ATM rollout will be    successful, but long term success isn’t guaranteed.

 Senior Charlie Farrington said, “I think they will be a success for a little while, since Bitcoin  has become extremely popular over the past couple years. I don’t know how well Bitcoin is  going to work in the long term though.”

 Bitcoin isn’t well known at Stillwater Area High School, but those who have used it have very good things to say about it.

 Senior Nathan Powers said, “Bitcoin is very convenient to use as an online currency, and I look forward to using their ATMs in the near future.” ATMs are now in three states, with more expected shortly.

Some have said that Bitcoin could at some point be used as a true alternative to currency. However, many, including those at Robocoin, seem to recognize that this probably won’t happen.

Charlie Farrington said, “Its [Bitcoin’s] userbase has grown extremely fast, but it’s still only used by a certain type of person. A lot of people don’t know about it still, and if they did, I don’t think they’d be open to using this type of internet currency. Personally, I’d be okay with adopting it, but I think a lot of people, specifically those more opposed to large changes, would not trust bitcoin.”  Bitcoin seems to have recognized this as well, as several of their new A.T.M.’s now dispense cash as well as adding to accounts.

With the rollout of A.T.M.’s in the U.S, Robocoin is clearly trying to expand the use of their currency. Recently installed machines in the U.S appear to be doing well, but it remains to be seen whether Bitcoin will become a truly accessible form of currency over the next few years, with the coins value down 38% in the past year.