OK this is BS I just got an SMS that Robocoin is ending service on the 15th. We started with 1 ATM and now have like 5 scattered around town. Often there's a lineup to use the machine so there's no way they're shutting down due to lack of business; something else is going on.
As for requiring all your personals, fingerprints and a retina scan that was only when they first started up. Since then anybody can use the machine anonymously just insert cash or load BTC and get cash or BTC, no jumping through hoops.
Also the exchange I use and had a fiat ATM card for got sold to Kraken and they didn't carry over the debt card service.
This is all really inconvenient.
Topic: ATM Robocoin Ends Bitcoin Services (Read 1502 times)
"Withdrawals "may take some time" due to elevated website traffic."
Or, in other words, they stole the money.
Or, in other words, they stole the money.
That is the same thing that fall on my mind. Or maybe even worst they lost it on gambling or some ponzi investment and now they don't have money to pay out people.
Maybe they will share more information why they quit in next few days.
Those arms are useless in my opinion anyway. I just want an online service where I can buy bitcoin in seconds.
I don't want to have to go out to buy bitcoin and show in public that I'm buying it.
I don't want to have to go out to buy bitcoin and show in public that I'm buying it.
Hear you, NorrisK (and Master of Puppets too).
I would like to see some brave entrepreneurs open up a service (on the 'Net or even making BTMs) that would sell me BTC for cash without all of the annoying AML/KYC "features". Whose business is it anyway what we do with our own money (that we have already paid txes on earning)?
SOMEONE is going to figure out how to do this -- selling BTC quietly. And they will make a fortune. A gold mine. Bravo for them.
* * *
Hmm, if private individuals, who, um, might have friends who like BTC, might be able to purchase a Lamassu and just keep it in their house... Sell BTC for CA$H, but just their own... Maybe let a few friends into the clubhouse too...
SOMEONE is going to get very wealthy cracking this nut. And localbitcoins just is not doing the job in my city.
There would be many more atm company that can serve the bitcoin community's need in two years from now we can have atm on every corner as many companies still want to employ the bitcoin system to their company here in our country it's easy to convert your bitcoin to our local currency..
"Withdrawals "may take some time" due to elevated website traffic."
Or, in other words, they stole the money.
Or, in other words, they stole the money.
Bitcoin is full of stupid ideas and VC money invested by idiots. The good news is stupid ideas fail and bad investors go broke quickly.
Roboscam. End.
They did not cheat and did not steal anything. People who invested in Robocoin's bitcoin business are free to withdraw their bitcoins without problems.There is difference between failed business project and a scam.
Who needed thumb-scanning, DNA-leaching, Retina-scanning fucking Robocoin? Who? Nobody, that's who.
High fees and high surveilance. There was no demand for their uncompetitve product. They won't be missed. The opensource-ATMs you build yourself are better than their ponzi.
High fees and high surveilance. There was no demand for their uncompetitve product. They won't be missed. The opensource-ATMs you build yourself are better than their ponzi.
My ATM is my phone
I don't need physical cash or banks anymore
I don't need physical cash or banks anymore
What s the problem with this? Every industry s the same, better, more innovative companies survive and those less able to adapt, go down.
Why would this affect BTC at all?
Why would this affect BTC at all?
bitcoin does not really need to service, once you can easily buy things from private and pay directly in bitcoin everything else will be obsolete, this can be done with a platform like open bazar
service like this are heavily centralized, they must regulate everything before accepting a new way of payment, it's the reaosn why amazon is still not accepting bitcoin, and many other for that case
in this case i muse private vendors of atm will emerge, it's not like the end of the world
service like this are heavily centralized, they must regulate everything before accepting a new way of payment, it's the reaosn why amazon is still not accepting bitcoin, and many other for that case
in this case i muse private vendors of atm will emerge, it's not like the end of the world
Those arms are useless in my opinion anyway. I just want an online service where I can buy bitcoin in seconds.
I don't want to have to go out to buy bitcoin and show in public that I'm buying it.
I don't want to have to go out to buy bitcoin and show in public that I'm buying it.
Robocoin was always SHIT anyway. Did any of you actually try this thing? It was a total mess, you would need even a hand scan along with ID and a lot of other shit. Such ATMs only bring a bad feeling to people because they need a lot of credentials to get some damn Bitcoin.
My city has two Bitcoin ATMs ("BTMs"). They are Lamassu brand. I have used one of them. About 25% of the time, it is not working (or correctly anyway), though sometimes the owner can reboot it from their office.
Thanks for the heads up. I have been toying with the idea of making a long journey to my nearest Bitcoin ATM, and I expected it to be working 100% of the time. I thought its functional hours would be the same as the shop's opening hours that it's installed in. It would have been a complete letdown if I had made the journey and found the ATM was not working.
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Good since the contracts were terrible for users and new competition went and made them obsolete.
In a pressure industry companies fail when they lack adaptation being first is good but keeping yourself competitive in a new market is important as well.
In a pressure industry companies fail when they lack adaptation being first is good but keeping yourself competitive in a new market is important as well.
Bitcoin atms have relatively high fees%? I would imagine a trade on localbitcoin would be easier, and you don't even have to get in the car.
They do. Considering the rental cost and the machine costs, it would be understandable. Localbitcoins isn't a fair comparison, there are still scammers there and not everyone prefer to use bank accounts to buy Bitcoins.Robocoin wasn't that much of a great machine from the start. They are big and bulky with a high pricing. By enabling KYC/AML features by default, users who do not wish to give out information from countries without specific policies for ATMs like this would be discouraged to use the ATM. This would've hurt the revenue of the ATM operators. Alternatives such as Lamassu are smaller, fast and have a fancy UI.
Not really surprising bitcoin is for internet not a brick and mortar type of operation
Roboscam. End.
Bitcoin atms have relatively high fees%? I would imagine a trade on localbitcoin would be easier, and you don't even have to get in the car.
These guys are operating on thin margins and competition in this market is tough. They could not hack it in the BTM hardware model and then changed over to the software and
remittance side. Now they are changing again and want to try the card storage services for mobile payments? Either way, things looks a little bit unstable there, if you
constantly needs to make huge business model changes like that.
If I were a investor there, I would be very worried.... How do you build on customer trust, if you keep on
jumping from the one model to the next?
remittance side. Now they are changing again and want to try the card storage services for mobile payments? Either way, things looks a little bit unstable there, if you
constantly needs to make huge business model changes like that.
If I were a investor there, I would be very worried.... How do you build on customer trust, if you keep onjumping from the one model to the next?
Robocoin was always SHIT anyway. Did any of you actually try this thing? It was a total mess, you would need even a hand scan along with ID and a lot of other shit. Such ATMs only bring a bad feeling to people because they need a lot of credentials to get some damn Bitcoin.
My city has two Bitcoin ATMs ("BTMs"). They are Lamassu brand. I have used one of them. About 25% of the time, it is not working (or correctly anyway), though sometimes the owner can reboot it from their office.
The one I have used here wants a scan of a Driver's License.
I don't understand why it should be so hard to make a decent BTM. The Lamassu works (mostly) and is resistant to at least casual theft (of the CA$H inside it).
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