Topic: 2013-02-23 cnet.com - Need Bitcoins? This ATM takes dollars and funds your accou - page 3. (Read 4522 times)
February 24, 2013, 01:46:13 AM
Thanks.
February 24, 2013, 12:59:01 AM
Wow that's pretty impressive!
Pretty amazing where everything is going these days!
February 24, 2013, 12:52:48 AM
Wow that's pretty impressive!
February 24, 2013, 12:42:04 AM
In freaking New Hampshire? Damn it, my area never gets anything cool... 
That's where all the libertards live. If you want anything cool that libertards likes, you better move there.
Tons of Libertards live there.
February 24, 2013, 12:40:25 AM
In freaking New Hampshire? Damn it, my area never gets anything cool...
That's where all the libertards live. If you want anything cool that libertards likes, you better move there.
February 23, 2013, 11:52:01 PM
An unusually high influx of non-believers on that vid
But thanks!The more I think about this, the more awesome it becomes. Say someone in LA wants to send money to their relatives abroad: you make them a wallet with blockchain, print out the QR code, go to the nearest bar with a Bitcoin ATM and put in 100 dollars.
Really awesome.
February 23, 2013, 11:41:37 PM
An unusually high influx of non-believers on that vid
But thanks! February 23, 2013, 11:39:30 PM
February 23, 2013, 09:52:59 PM
Wow.
February 23, 2013, 09:47:20 PM
In freaking New Hampshire? Damn it, my area never gets anything cool...
I want to move to NH. Seems like they have the most Bitcoin traction, and NH will probably be the first state to reach critical mass. February 23, 2013, 09:03:15 PM
Does anyone have a video of the ATM?
February 23, 2013, 08:58:37 PM
In freaking New Hampshire? Damn it, my area never gets anything cool...
February 23, 2013, 08:56:11 PM
Now THAT is awesome.
I hope they can sell a couple of thousands of those machines, that would be even more awesome.
I hope they can sell a couple of thousands of those machines, that would be even more awesome.
February 23, 2013, 08:47:35 PM
New Hampshire entrepreneurs have created a dollar-converting anonymous Bitcoin ATM, which they hope to sell to bars, restaurants, and other retail locations nationwide.
- http://news.cnet.com/8301-13578_3-57570925-38/need-bitcoins-this-atm-takes-dollars-and-funds-your-account/
Quote
Zach Harvey has an ambitious plan to accelerate adoption of the Internet's favorite alternative currency: installing in thousands of bars, restaurants, and grocery stores ATMs that will let you buy Bitcoins anonymously.
It's the opposite of a traditional automated teller that dispenses currency. Instead, these Bitcoin ATMs will accept dollar bills -- using the same validation mechanism as vending machines -- and instantly convert the amount to Bitcoins and deposit the result in your account.
[...]
"If we made these machines somewhere around $1,000 to $1,500 each, depending on the commission, they could be able to buy this and make it back within a reasonable period of time," Harvey says.
[...]
To obtain Bitcoins, people use an iPhone app like Blockchain or Android's BitcoinSpinner to show the ATM a QR code with their desired address for payments. After they insert a dollar bill (denominations up to $100 are accepted), the ATM automatically credits their Bitcoin account with the proceeds. There's a 1 percent transaction fee.
"Even people who have been in the Bitcoin world for a while and have used every type of exchange are blown away by the simplicity of this machine," Harvey says. "I'm just putting in a dollar. Before they really know what's going on, their phone tells them, 'You have Bitcoin.'"
It's the opposite of a traditional automated teller that dispenses currency. Instead, these Bitcoin ATMs will accept dollar bills -- using the same validation mechanism as vending machines -- and instantly convert the amount to Bitcoins and deposit the result in your account.
[...]
"If we made these machines somewhere around $1,000 to $1,500 each, depending on the commission, they could be able to buy this and make it back within a reasonable period of time," Harvey says.
[...]
To obtain Bitcoins, people use an iPhone app like Blockchain or Android's BitcoinSpinner to show the ATM a QR code with their desired address for payments. After they insert a dollar bill (denominations up to $100 are accepted), the ATM automatically credits their Bitcoin account with the proceeds. There's a 1 percent transaction fee.
"Even people who have been in the Bitcoin world for a while and have used every type of exchange are blown away by the simplicity of this machine," Harvey says. "I'm just putting in a dollar. Before they really know what's going on, their phone tells them, 'You have Bitcoin.'"
- http://news.cnet.com/8301-13578_3-57570925-38/need-bitcoins-this-atm-takes-dollars-and-funds-your-account/
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