Topic: Are you f...ing kidding me? - page 2. (Read 3976 times)

The same applies to every other item that a person can buy, but AML does not apply universally

It's neither Bitcoin's fault or ATM's fault. This is because of AML/KYC policies that ATM manufacturers need to follow.

Both guys are noobs, they should have tried to send bitcoins to someone on a fucking bank holiday.
Then they should have understood the value of bitcoins.

Yes, because a "property" has a value.

Is AML required if Bitcoin is considered by US Government to be property and not currency?

Yeah. And then people complain about why it is so complicated, it's a crappy ATM and such. Look at the comments.
It's not our fault, it's not a scam, it's the government's fault.

To be honest, it's not exactly a straight forward process, especially when all you want to do is get your hands quickly on some Bitcoin, so I can understand their frustration. Somebody needs to take them to one that is as simple as putting money in and getting coins out, but I guess a lot of the mainstream ones in the States wont be able to work like this due to AML laws and shit.

I've sold Robocoin at least BTC1, no ID, no hand scanning, no probing. Then one day a bankster ATM showed up and Robocoin's cash dispenser was mysteriously malfunctioning. So I got the bankster ATM card from the exchange and use their armour plated machines to withdraw fiat for a higher fee. They are convenient.  

Those guys are just retarded. 3 confirmations take from 30 min up to an hour.
They just encountered a stupid error and got pissed off, and now hate bitcoin.
Retards.

best idea i have seen for an ATM is where people sign up and give ID details to the service provider beforehand. they are then given a PUBLIC key which is linked to that identity.

then on any day they please the person can get that key scanned by the ATM to prove who he is, and then deposit funds onto that key and the ATM then gives him cash.

all because he used a key owned by the ATM.

as for buying bitcoins. he scans the public key that is registered to him. he puts his cash in. and the btc is put onto that public address.. he can then tell the ATM where h wants the funds moved to.

the benefits.
1. when cashing out. the customer already knows the address to deposit coins into before even approaching the ATM
2. because incoming and outgoing funds can be linked to a public key, which is linked to an identity
3. not requiring to scan 3 forms of ID at every visit
4. when cashing out, BTC can be deposited early, the confirms are pre-done before walking to an ATM. making getting cash take only a few seconds.
5. when buying in. the customer is not forced have to also have a destination address right that second to move btc away from the ATM. the system can be developed to have an "account management" website/app to move the funds later at th customers leisure.
6. the ATM service provider can trace each persons use of the service, simply by viewing the transaction history of th linked address as all transactions go through that address

There are swifter less complicated machines than that. Some are instant or as quick as you can print a paper receipt off with your coins on.

+1

"Bitcoin is fucking hell" -- We're going to turn the internet off now.

Cheers

Edit:

Just in case they do you might need something like this.

http://www.sundialbrowser.com/

http://en.wikipedia.org/wiki/Alternative_DNS_root

yeah, Litecoin is coming! 

Believe me, I'm very far from being a bitcoin hater... Just one concerned citizen.

If you say so... You do realise that if any of the coins which has ridiculous < 1 minute were ever to be accepted enough to have their own ATM's that the process and thus the time would be the same.

 What kind of moronic ATM is that?    Bitcoin has no fault in its incompetence

any ATM is a machine run by a business of some sort. Comparing money to atm currently in practice is not fair at all. Its has strict regulatory practices business have to comply to.

 This is the daftest exploit of misinformation by bitcoin haters. This atm won't last long anyway...

I guess I see your point...  After all what cash has to do with ATM? I'm one huge fan of simplicity and efficiency and when I watched that video it made my blood boil... I only hope this "experience" is unique to that particular ATM vendor.

whats that has to do with bitcoin ?

bitcoin is all them things
robocoin ATM... not so much

but it does show a good demonstration of how average joe will see bitcoin, if they wanted to get in. because they dont understand that bitcoin (the protocol) is a separate thing from an ATM

things need to change and make the layers above bitcoin (ATM, merchants, spot prices) a little more user friendly

There are better and faster coins than bitcoin now, bitcoin is dying and only thing keeping it afloat is the fact that it was the first. Open your eyes, come to reality, wake up from your slumber