“Bitcoin is traded computer to computer and has no central authority or government backing. It’s primarily used to purchase goods on the internet, and has no transaction fees.  A new company, Australian Bitcoin ATMs, is now planning to roll out 100 machines to try to increase the use of the currency. The company’s CEO is Chris Guzowski. ‘You can type in how many Bitcoins you want to sell, then our ATM goes onto an overseas Bitcoin exchange and executes that transaction for you and will spit out the cash for which you sold the Bitcoin for. And the opposite also applies, so you can put cash in and purchase Bitcoin.'”

http://www.abc.net.au/worldtoday/content/2013/s3935633.htm

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