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RE: Cryptographic ATMs in Latin America
The director of the firm Athena Bitcoin, said that the machine installed in the Colombian city of Cucuta, is a "help" for Venezuelans who cross the border to the coffee nation.
Uh yeah, no. 10% is highway robbery. This is another example of people in desperate circumstances being shamelessly ripped off by corporations. As such, it represents the very worst of predatory capitalism.
On top of this, using one's phone for financial transactions is a serious security risk, given that all mobile devices are inherently less secure than a PC. Overall, I personally would never consider using an ATM setup of this type, even if they were available here in Argentina.
My regards, brother.
What strong words!
I do not know the fact that scams have occurred regarding the use of these ATMs. What I can tell you is that many migrants have benefited. Since they do not have to travel carrying dollars in cash and exposing themselves to road robberies, which are so abundant in my country.
Thanks for your valuable comment dear friend.
@juanmolina - I do not doubt that what you say is true, but with all due respect, I think you are missing the point. I have said that 10% is a ripoff, and you have said that it's their best option; these two statements are not mutually exclusive. When the system is rigged, we are often forced to settle for the lesser of two evils, but that lesser evil is still evil.
I know a lot of Venezolanos here in Buenos Aires, most of whom are working their asses off for shit wages. The fact that working for shit wages is better than starving doesn't change the fact that they are being ruthlessly exploited.
As for strong words, yes, I know. I'm working seven days a week, haven't had a day off since early February, and I'm feeling somewhat cantankerous. But hey, you asked me to read your article and comment. I read it, upvoted it, and left a lengthy and thoughtful comment.
So far they are the only suppliers and can manage the price at that level. I hope that more adoption bring more competition, in some way that could help to reduce this fee.
Well as far I know. Probably I'm missing if there are competition.