Oregonian and former banker Mike Fors, founder of BitcoinNW, writes that he spent seven months working with the state of Oregon to comply with regulations in order to install the ATM. Though it works like an ATM from the user's perspective, it is essentially an automated currency exchange: The value of Bitcoins versus the dollar has fluctuated wildly, from a peak of over $1,000 in December of last year to its current value of $400; the currency started at an equal exchange of one dollar per Bitcoin.