Topic: Bitcoin ATM accountability (Read 143 times)
I checked out some bitcoin ATM, it's unbelievable crazy price, if bitcoin price is $9k, they will charge you $10k, who is going to buy with those extra money? Insane.
Proof needs to be provided for every disputed transaction. The owner of the ATM needs to resolve the issue because bitcoin is decentralized currency with none being the owner at some central point. Banks are owner of their ATMs resolving such issues because they are the monitors controllers of their transactions.
So the agency providing financial ATM services is primarily responsible for resolution.
So the agency providing financial ATM services is primarily responsible for resolution.
would assume the provider? the fees are too insane anyway op - do localbtc instead.
The provider of the bitcoin ATM provider may not be able to compensate for the loss due to the malfunction ...
Actually the provider has to compensate you for such a loss.
When using the ATM you both (you and the owner of the ATM) have agreed on a purchase agreement.
If you have paid for your coins but didn't receive them (because of power outage, etc..) you have the right to demand the coins you have bought (or eventually your money back).
The provider of the bitcoin ATM provider may not be able to compensate for the loss due to the malfunction but you can recover the loss by requesting the store or the seller working with the provider of the bitcoin ATM with your records submitting the proof.
I think the bitcoin ATM will be owned by an individual or a company. The owner will provide a mean of reaching the customer care or support in case of necessity.
If I used a bitcoin ATM that stands in a public place and something went wrong during my transaction for example power outage or for any other reason,and I lost
some bitcoins, who will be accountabie. Will it be the shop owner who rent the BTC ATM or the owner of the Btc Atm.
some bitcoins, who will be accountabie. Will it be the shop owner who rent the BTC ATM or the owner of the Btc Atm.
For every malfunction, be it ATM or coffee or soda vending machine the company or individuals that owns the machine are the only ones that can reimburse you.The shop has basically no control over it, they are just earning either a flat fee or a percentage of the sales.
Besides any modern ATM (at least traditional banking ones) have a small battery that would eject the card and print the error code on a receipt in case the power failure or if the connection to the bank server is lost.
But, because of the fees I would advice against using an ATM to buy bitcoins, other than one time to satisfy your curiosity.
It's going to be the creator the of the ATM. I once had a similar issue with Bitaccess ATMs, I emailed them and they reimbursed me. So as long as you're able to provide proof, you should be fine.
If I used a bitcoin ATM that stands in a public place and something went wrong during my transaction for example power outage or for any other reason,and I lost
some bitcoins, who will be accountabie. Will it be the shop owner who rent the BTC ATM or the owner of the Btc Atm.
some bitcoins, who will be accountabie. Will it be the shop owner who rent the BTC ATM or the owner of the Btc Atm.
Jump to: