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Bitcoin ATM’s Vandalized In The US by norbu

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bitcoin · @norbu ·
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Bitcoin ATM’s Vandalized In The US
In what might sound like a scene out of a mafia movie, many Bitcoin ATM's were found vandalized in the US recently and rumors suggest this may have to do with competing companies trying to remove the competition, by brute force gangland style!

If those rumors are true, then it will be another chapter in the evolution of Bitcoin, and it shall be interesting to see how the community will handle the situation of how this behavior by profit groups will be ultimately tackled.

The recent news had a story about Bitcoin ATMs being targeted by a group of hammer-wielding criminals in the US. To be more precise, both the Detroit and Chicago areas have seen an increasing number of physical attacks against teller machines, and so far, nearly eight dozen Bitcoin ATMs have had their screens bashed in with hammers and other blunt objects.

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<center>https://i.imgsafe.org/c7eb671eaf.jpg</center>
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<center>**Bitcoin ATM bandits threaten rivals with death in the US** [[Photo Source]](https://news.bitcoin.com/bitcoin-payment-terminals-vs-bitcoin-atms-which-is-more-convenient/)</center>
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According to a formal complaint filed in the Northern Illinois District Court last month, an unprecedented situation has arisen in which a group of men, allegedly with their own ATM's, are smashing up Bitcoin ATMs to eradicate competition in the area.

Moreover, the complaint also claims how several ATM owners have been threatened, and “protection money” has been demanded, giving a glimpse into the unsavory things happening in the Bitcoin economy.

I may be wrong, but I believe competition is heating up in that sphere as the value of Bitcoin continues to rise raising its market cap considerably, and with growth, we can expect the unsavory characters to show up as well!

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<center>https://i.imgsafe.org/c7f6bba3c2.jpg</center>
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<center>**Sources for the post and further reading**</center>
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1. http://themerkle.com/various-bitcoin-atms-destroyed-in-us-localities/
2. https://cointelegraph.com/news/dog-eat-dog-bitcoin-atm-bandits-threaten-rivals-with-death
3. http://www.newsbtc.com/2017/01/15/bitcoin-atm-attacks-lead-lawsuit-four-brothers/
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<center>If you like my work, please up-vote and read more at @norbu.
You may also click the down-arrow next to my name (before my reputation score below) to follow me. Or you may just re-steem to share the love! &#128522;</center>
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vote details (155)
@brainstormer11 · 
The way I read a story on this, they were vandalized because they didn't  pay protection money in a bad neighborhood.  It's the same as the mafia used to do.
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@freiheit50 · 
Thanks! Your information service is better than any newspaper. >ou always deserve my upvotes. Greetings from Munich laying under snow.
👍  
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@norbu · 
I have been reading about Europe facing a severe winter and a cold wave, and I hope you guys are fine! 
Thanks also for your kind words and I shall keep bringing on the interesting news!
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@lemouth · 
Competition is healthy. This should be reminded.
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@norbu · 
Yes I agree, but competition should not involve force or violence.
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@lmar · 
I keep having difficulty getting my head round the conflicts involving cryptocurrency. Are you suggesting that these incidents are happening between competitors within the cryptocurrency market or against it per se? I am asking because I value your submissions and the insights you give.
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@norbu · 
The report suggests it is a rivalry among atm operators. But the violence is bad.
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@mrosenquist · 
Interesting.
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@screenname ·
Re: Bitcoin ATM’s Vandalized In The US
<p>This post has been ranked within the top 50 most undervalued posts in the first half of Jan 16. We estimate that this post is undervalued by $6.93 as compared to a scenario in which every voter had an equal say.</p> 
<p>See the full rankings and details in <a href="https://steemit.com/curation/@screenname/the-daily-tribune-most-undervalued-posts-of-jan-16---part-i">The Daily Tribune: Jan 16 - Part I</a>. You can also read about some of our methodology, data analysis and technical details in <a href="https://steemit.com/curation/@screenname/introducing-the-daily-tribune-most-undervalued-posts-of-nov-04---part-i">our initial post</a>.</p>
<p>If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.</p>
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