Topic: [ANN] Inventor of the ICO Unveils UpToken: A Bitcoin ATM on every corner - page 2. (Read 2991 times)

Great! Thank you.  I invested. Good luck with this! Cant wait to start seeing your ATM's everywhere

Price is set at $0.10 for all currencies we accept (value of currency determined at time it is sent). There is a discount for early-birds.

Hi,
How many tokens per ETH?

Thanks for the response.
Well, I guess I am out, firstborn child is my primary investment.

I am mistrustful of smart contract code. My goal was to use the simplest ERC20 code possible.

We are using a signup form to identify match up cryptocurrencies coming in against where UpToken needs to go out.

Yeah, refunds would be manual, but signups indicate we should blow way past $10M hopefully. Hard to tell since the signup form isn't binding.

Terms were written by lawyers - sorry - there's probably a clause in there that gives up your firstborn child too!

Definitely a good way to mass adoption despite of legal, regional complications.
I have a few question regarding the actual Token sale:

Why not use a smart contract for the contribution process?
What is the actual process for gathering funds?
Are refunds to be handled in a manual fashion In the event you do not meet 10m?


Pretty intimidating Token-Sale-Terms paper:) Sounds like i might be signing my life away:)

Thank you,

Cool concept for your coin.  Will be following this thread and the ICO as well.  Hope to see this come to fruition would be wonderful to see bitcoin ATMs on every corner like your vision suggests.

Unlikely we will need bounties for this project

Excellent!

When will you post your Bounty Campaign Program details?

Nice job CryptoCoinNews! ICO Inventor Shares Thoughts on Industry, Explains His $1 Million Bet on UpToken

Hi dev!

There are three problems with smartphone purchases:

    Smartphone purchases of crypto require integration with your bank account, which gives some people the willies. - Not all ot them are connected.
    Online purchases usually require a waiting period for new customers (to avoid fraud) - as soon as it's a blockchain you need to wait for the block with your transaction to be added to blockchain anyway.
    Most importantly, a lot of the world doesn't have a bank account. We want a crypto ATM to be their bank!! - ha ha, your ATM need internet connectoin, you think if they don't have banks, do they have enough internet for you ATMs?

I also like omni-asset idea, Ethereum needs a competitor and I like Tether so much

One thing we've learned in the ATM business is that there is usually a way through the regulatory hurdles. It requires persistence, creativity, and money to get past them. We've got the former two, and while we do have some venture capital money, we think a big bankroll from the UpToken sale will make a big difference!



There are three problems with smartphone purchases:

• Smartphone purchases of crypto require integration with your bank account, which gives some people the willies.
  
• Online purchases usually require a waiting period for new customers (to avoid fraud)
• Most importantly, a lot of the world doesn't have a bank account. We want a crypto ATM to be their bank!!

My business partners insisted on an ERC-20 token, but I feel confident that UpToken will benefit Omni (that's why I'm involved - I want to see "An Omni ATM on every corner")

For the pricing details, I refer you to the terms of sale at UpToken.org - there's a lot of detail you need to know if you are thinking of participating.

Is there a particular reason why UpToken is an eth token instead of an OMNI asset?

Also, what's the ICO price in BTC? ETH?

This sounds like a great way to support the cause towards mass adoption of cryptocurrency, but I wonder about regulatory hurdles? It would be great if you can expand further in that respect.

Hi there! I like the idea of crypto ATMs, but aren't people use smartphones to change currency or cryptocurrency? And what is the meaning of the uptoken, what is it and how is it connected with ATMs? I dont see any necessary connection in here between ATMs and uptoken.

this is a good idea for bitcoin development in the future, but it will be risky at every regulation in every region, no one can guarantee the project will be successful or not

I knew about AML compliant ATM long ago but it's not enough. For example, no bank in France will support any business related to Bitcoin, none. It doesn't matter if it is legal and AML compliant. They do not care. So you won't be able to deposit FIAT, no cash flow, no ATM.

That is the dumb and suborn anti-bitcoin environment you will try to do business with. I gave up long ago.

That statement is not completely true, let me explain. You are spot-on that some older brands Bitcoin ATMs are notoriously bad at AML / KYC (not naming any brands here!) and yes, as such, identity had to be checked manually before allowing one to purchase bitcoin or even switch the ATM on. Of course, this is simply not doable and yes, those machines have been switched off as you would need a human to patrol the machine at all times... Hardly a profitable enterprise that way and yes, an administrative nightmare.

However..... You will find that other brands and models, like the BATM Bitcoin ATM range have extensive AML / KYC options built in and can even deny anonymous purchases altogether, forcing people to ID themselves at the ATM using phone, fingerprint, ID, email or any combination that satisfies local authorities. (Yes, even the French and US authorities!) Once a user has registered on an ATM, they will be able to use all the ATMs in that operator network in the future.

Many old ATMs just focussed on 'making it work' and ignored any legislation or AML / KYC issues. Nowadays, this really is no longer the case and having the BATM do the KYC / AML instead allows ATM operators to scale in places previously deemed off-limits. In my opinion this a far better approach to vending crypto and the settings are flexible so ATM operators can comply with any legislation in practically any jurisdiction.

so no matter how horrible oppressive the regime, you will be able to configure your BATM to comply with any ridiculous legislation they might come up with... (like checking no-fly lists, block burner phones or prevent sales to banned crypto addresses, all supported out of the box on the BATM platform) For a detailed configuration video have a look here: https://youtu.be/L3M1tvWESTY?t=1h16m15s

Hope this clears up the confusion a bit!

Visionary it is, dont worry about the may or may nots, just do it.

Regulatory issues and costs are why you need a professional and well capitalized organization to do this. Mom and Pop operators definitely cannot.