lol 
Topic: Bitcion ATM [video] (Read 3392 times)
These ATMs should give out half-coin increments in coined bits lol
lol
This will revolutionize Bitcoin.
This is an Epic.Win.
Imagine being in a world where you could walk up to a machine and buy "Bitbills".
It would make transferring real money to BTC so much easier and user friendly.
P.S - Use a vending machine stocked with these: http://bitbills.com/
This is an Epic.Win.
Imagine being in a world where you could walk up to a machine and buy "Bitbills".
It would make transferring real money to BTC so much easier and user friendly.
P.S - Use a vending machine stocked with these: http://bitbills.com/
i like this idea.
Maybe you could just license + buy one and set it up outside your front door then?
I'm more concerned about:
User interface
and
Physical security
If someone rips open a bitcoin ATM, they cannot jsut steal the money inside, they can also rob the bank (as the ATM will either have a bitcoind node running or at least some credencials to a remote node).
I'm more concerned about:
User interface
and
Physical security
If someone rips open a bitcoin ATM, they cannot jsut steal the money inside, they can also rob the bank (as the ATM will either have a bitcoind node running or at least some credencials to a remote node).
Bitcoin ATMs need built-in guns if people get too touchy-feely. And a face of Samuel L. Jackon yellin "Nuh Uhhhhh Mothafucka"
Maybe it can have a sensor that detects movement, and if it does it just shoots the bitcoins to another wallet offline. It also has 2 stun gun probes that shoot out and take care of the attacker.
ATM provider would have the private keys to each ATM wallet, so the machine could erase itself upon tamper. How about a mechanically triggered weight that smashes the hd platters?
Also I hope there is no HDD inside this thing! ROMs are much better suited for this stuff.
Still noone came up with a viable solution how to prevent someone stealing an ATM, grapping the RAM contents and faking cash deposits.
Maybe you could just license + buy one and set it up outside your front door then?
I'm more concerned about:
User interface
and
Physical security
If someone rips open a bitcoin ATM, they cannot jsut steal the money inside, they can also rob the bank (as the ATM will either have a bitcoind node running or at least some credencials to a remote node).
I'm more concerned about:
User interface
and
Physical security
If someone rips open a bitcoin ATM, they cannot jsut steal the money inside, they can also rob the bank (as the ATM will either have a bitcoind node running or at least some credencials to a remote node).
Bitcoin ATMs need built-in guns if people get too touchy-feely. And a face of Samuel L. Jackon yellin "Nuh Uhhhhh Mothafucka"
Maybe it can have a sensor that detects movement, and if it does it just shoots the bitcoins to another wallet offline. It also has 2 stun gun probes that shoot out and take care of the attacker.
ATM provider would have the private keys to each ATM wallet, so the machine could erase itself upon tamper. How about a mechanically triggered weight that smashes the hd platters?
On Tamper...light the currency on fire and shoot the BTC to an offline wallet...
Maybe you could just license + buy one and set it up outside your front door then?
I'm more concerned about:
User interface
and
Physical security
If someone rips open a bitcoin ATM, they cannot jsut steal the money inside, they can also rob the bank (as the ATM will either have a bitcoind node running or at least some credencials to a remote node).
I'm more concerned about:
User interface
and
Physical security
If someone rips open a bitcoin ATM, they cannot jsut steal the money inside, they can also rob the bank (as the ATM will either have a bitcoind node running or at least some credencials to a remote node).
Bitcoin ATMs need built-in guns if people get too touchy-feely. And a face of Samuel L. Jackon yellin "Nuh Uhhhhh Mothafucka"
Maybe it can have a sensor that detects movement, and if it does it just shoots the bitcoins to another wallet offline. It also has 2 stun gun probes that shoot out and take care of the attacker.
ATM provider would have the private keys to each ATM wallet, so the machine could erase itself upon tamper. How about a mechanically triggered weight that smashes the hd platters?
If you have a business (store owner) keep the ATM inside the store, wouldn't insurance cover it?
USD/EUR/CAD...etc can be stolen (and insured) but Bitcoins can be password secured.
They can setup the ATM where as soon as the transaction is complete, the users information is whipped.
Almost like a SESSION.
USD/EUR/CAD...etc can be stolen (and insured) but Bitcoins can be password secured.
They can setup the ATM where as soon as the transaction is complete, the users information is whipped.
Almost like a SESSION.
I hope they're paying close attention to security. ATMs have a long history of being insecure.
Consider this bit of entertainment.
https://media.defcon.org/dc-18/video/DEF%20CON%2018%20Hacking%20Conference%20Presentation%20By%20-%20Barnaby%20Jack%20-%20Jackpotting%20Automated%20Teller%20Machines%20Redux%20-%20Video.m4v
Consider this bit of entertainment.
https://media.defcon.org/dc-18/video/DEF%20CON%2018%20Hacking%20Conference%20Presentation%20By%20-%20Barnaby%20Jack%20-%20Jackpotting%20Automated%20Teller%20Machines%20Redux%20-%20Video.m4v
Maybe you could just license + buy one and set it up outside your front door then?
I'm more concerned about:
User interface
and
Physical security
If someone rips open a bitcoin ATM, they cannot jsut steal the money inside, they can also rob the bank (as the ATM will either have a bitcoind node running or at least some credencials to a remote node).
I'm more concerned about:
User interface
and
Physical security
If someone rips open a bitcoin ATM, they cannot jsut steal the money inside, they can also rob the bank (as the ATM will either have a bitcoind node running or at least some credencials to a remote node).
It could also be using nothing more than a web gateway API to a trading site that simply pairs keys together, meaning that there is limited damage anyone could do even with total access to the ATM. (Depends on if we're talking deposits or withdrawals)
A real ATM hands the customer a "secret" in form of a credit card + PIN. Here the backend has to trust the ATM 100% that everything it signs is correct.
With a real ATM, you can crack it open and get out some cash - with this ATM you can crack it open, get some cash AND tell the "bank" that you just deposited 1 million USD which should be converted to BTC and sent to your adress of 1banditABCD1234...
Yes, there might be sanity checks etc. but in essence that's my main concern here.
Really exciting stuff, I wonder who funded this...
I'm not trying to argue that this wouldn't be a favorable endeavor for anyone. I think it's a great idea.
I would just hate for these to cause a flood of users and drain the ATM's account similar to how the bitcoin faucet ended up.
I would just hate for these to cause a flood of users and drain the ATM's account similar to how the bitcoin faucet ended up.
If you're talking about a flood of users withdrawing cash from it to the point of total depletion on a daily basis (unlikely to happen), that is a direct mark of success to the owner and a sign to put MORE cash into it the next day. Hardly a negative sign.
If you're talking about the internal Bitcoin wallet being depleted, as another user has mentioned, the owner could just send in some Bitcoins automatically if that ever happened.
Don't worry.
You seem to be completely disregarding the fact that the owner of the ATM's would have to *purchase* the bitcoins himself. He, unlike traditional ATM's, does not have unlimited funds to throw around.
He has enough funds to buy 250 ATMs
I'm not trying to argue that this wouldn't be a favorable endeavor for anyone. I think it's a great idea.
I would just hate for these to cause a flood of users and drain the ATM's account similar to how the bitcoin faucet ended up.
I would just hate for these to cause a flood of users and drain the ATM's account similar to how the bitcoin faucet ended up.
If you're talking about a flood of users withdrawing cash from it to the point of total depletion on a daily basis (unlikely to happen), that is a direct mark of success to the owner and a sign to put MORE cash into it the next day. Hardly a negative sign.
If you're talking about the internal Bitcoin wallet being depleted, as another user has mentioned, the owner could just send in some Bitcoins automatically if that ever happened.
Don't worry.
You seem to be completely disregarding the fact that the owner of the ATM's would have to *purchase* the bitcoins himself. He, unlike traditional ATM's, does not have unlimited funds to throw around.
Maybe you could just license + buy one and set it up outside your front door then?
I'm more concerned about:
User interface
and
Physical security
If someone rips open a bitcoin ATM, they cannot jsut steal the money inside, they can also rob the bank (as the ATM will either have a bitcoind node running or at least some credencials to a remote node).
I'm more concerned about:
User interface
and
Physical security
If someone rips open a bitcoin ATM, they cannot jsut steal the money inside, they can also rob the bank (as the ATM will either have a bitcoind node running or at least some credencials to a remote node).
Bitcoin ATMs need built-in guns if people get too touchy-feely. And a face of Samuel L. Jackon yellin "Nuh Uhhhhh Mothafucka"
Maybe it can have a sensor that detects movement, and if it does it just shoots the bitcoins to another wallet offline. It also has 2 stun gun probes that shoot out and take care of the attacker.
Maybe you could just license + buy one and set it up outside your front door then?
I'm more concerned about:
User interface
and
Physical security
If someone rips open a bitcoin ATM, they cannot jsut steal the money inside, they can also rob the bank (as the ATM will either have a bitcoind node running or at least some credencials to a remote node).
I'm more concerned about:
User interface
and
Physical security
If someone rips open a bitcoin ATM, they cannot jsut steal the money inside, they can also rob the bank (as the ATM will either have a bitcoind node running or at least some credencials to a remote node).
Bitcoin ATMs need built-in guns if people get too touchy-feely. And a face of Samuel L. Jackon yellin "Nuh Uhhhhh Mothafucka"
Maybe you could just license + buy one and set it up outside your front door then?
I'm more concerned about:
User interface
and
Physical security
If someone rips open a bitcoin ATM, they cannot jsut steal the money inside, they can also rob the bank (as the ATM will either have a bitcoind node running or at least some credencials to a remote node).
I'm more concerned about:
User interface
and
Physical security
If someone rips open a bitcoin ATM, they cannot jsut steal the money inside, they can also rob the bank (as the ATM will either have a bitcoind node running or at least some credencials to a remote node).
I'm not trying to argue that this wouldn't be a favorable endeavor for anyone. I think it's a great idea.
I would just hate for these to cause a flood of users and drain the ATM's account similar to how the bitcoin faucet ended up.
I would just hate for these to cause a flood of users and drain the ATM's account similar to how the bitcoin faucet ended up.
Yeah, I hear ya, I just don't think that's at all likely. I'd say there's probably at MOST 100,000 Bitcoin users, and maybe only 30% of those users make active trades in a month. So, assuming maybe 30,000 people worldwide for 15 sparsely distributed ATMs.......even 250 ATMs.....I don't think it's likely. I know I wouldn't drive more than 30 minutes to find one.
Seems pretty easy to service too. I'm sure everything can be monitored remotely which is pretty pretty cool. If it needs more bitcoins, just send them from your beach chair.
Lol, then please look the other way while I walk off with the ATM. If nobody knows about Bitcoin, nobody will know what the hell I'm carrying.
I'm not trying to argue that this wouldn't be a favorable endeavor for anyone. I think it's a great idea.
I would just hate for these to cause a flood of users and drain the ATM's account similar to how the bitcoin faucet ended up.
I would just hate for these to cause a flood of users and drain the ATM's account similar to how the bitcoin faucet ended up.
Seems pretty easy to service too. I'm sure everything can be monitored remotely which is pretty pretty cool. If it needs more bitcoins, just send them from your beach chair.
My point is that these bitcoins and/or $$ won't just appear out of thin air when a user engages in a transaction. There's got to be preset funds stored in the machine or somewhere else.
I'm assuming this guy isn't a millionaire and doesn't own 10 TH of the total allocated hashing power this network holds, so he would most likely run out eventually unless he was adding more of his own funds constantly.
I'm assuming this guy isn't a millionaire and doesn't own 10 TH of the total allocated hashing power this network holds, so he would most likely run out eventually unless he was adding more of his own funds constantly.
There'd probably have to be an initial reserve. Then, I would assume the deposited cash translates into ATM Bitcoins. Regular ATMs have withdrawal limits, and I would think the Bitcoin ATM will have similar limits.
Edit: Don't forget, it's not like there will suddenly be 10 million Bitcoin ATMs. He's starting with like 15. There will be a couple people using them, but the point is, more people will spot them. If the ATM has a fee, then the small number of users will increase his total profit without risk for runs on the ATM. This will allow him to then put this profit into more ATMs, more people will see them, more people will use them, and he will collect more fees as profit. Then, more ATMs, more people, more use, more fees, repeat, repeat, repeat.
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