Japan, the place when you bring up "Bitcoin" it is "The company that went bankrupt". Or at least it was until recently. Living here 4 years and being a Bitcoin enthusiast for that time, I have had my fair share of conversations with Japanese people about it.
Interest for Bitcoin in Japan, like other countries, is booming. I will give an example.
Here is a picture of the Bitcoin event (at Rough Labo) I went to in Osaka, Japan on April 1.
And here is a picture of the same event held again a few months later on Sept 9.
Most of which is comprised of small and big business owners interested in beginning to accept Bitcoin. The numbers jumped from about 10 to 100 people. It was a circle jerk of nerds in April, turned to a pack full of many circle jerks of business men in September.
The only Bitcoin ATM left in the entire Kansai area (The 2nd biggest city in Japan next to Tokyo) was in that building, but as of a few days ago it is no more.
In some states in the United States you need to apply for a license to sell Bitcoin similar to the hurdles that banks have to go through to obtain a license.
But in Japan, I have not been able to find any such requirement.
With such cheap ATM's on the market, along with the ability to maintain the wallet attached to the ATM by selling/buying more Bitcoin on an exchange, it is puzzling why there is not even one Bitcoin ATM in Kansai, Japan.
The cheapest ATM Skyhook ($1000) which is no longer being made, can be purchased used.
The next cheapest and sleekest in my opinion is the BATM2 ($2999)
The amount of people that would be willing to buy a little Bitcoin from an ATM located in a trusted shop is much more than who would go out of their way to sign-up to an exchange, etc.
So I leave you with the same questions I am left with...
Why are there not more Bitcoin ATM's?
What is the reason that is keeping people from these potential profits for such a low 'barrier to entry' cost?
