Bitcoin vending — Making it easie to convert cash to coins

Trovemat

copper member

Activity: 252

Merit: 0

Quote from: vit05 on October 24, 2018, 01:10:54 PM

Do you mean like ATM machine? There are several of them:

An example of a Brazilian ATM https://www.youtube.com/watch?v=fyWPjz4zFT8

According to coinatmradar there are 3907 Crypto ATMs in 76 Countries.

Edit.: I am so stupid. I didn't saw the date. Someone else bump this topic and deleted his answers.

Nope, you're not stupid. Yeah, I would recommend mostly to buy this one: www.trovemat.com

https://youtu.be/a-ITNLrF4kM

Trovemat

copper member

Activity: 252

Merit: 0

Quote from: 1bitc0inplz on May 17, 2011, 12:42:39 AM

I think this is a great idea. Heck, they have gold vending machines, why not a bitcoin one. It would be great for public awareness.

It would be even better if the device was two way (USD <-> BTC), and was wired up to MtGox to give up to the minute prices (plus a small fee, of course Cheesy

)

Can you imagine that since 7 years from your post it all comes true ))

vit05

hero member

Activity: 672

Merit: 526

Do you mean like ATM machine? There are several of them:

An example of a Brazilian ATM https://www.youtube.com/watch?v=fyWPjz4zFT8

According to coinatmradar there are 3907 Crypto ATMs in 76 Countries.

Edit.: I am so stupid. I didn't saw the date. Someone else bump this topic and deleted his answers.

1bitc0inplz

member

Activity: 112

Merit: 10

I think this is a great idea. Heck, they have gold vending machines, why not a bitcoin one. It would be great for public awareness.

It would be even better if the device was two way (USD <-> BTC), and was wired up to MtGox to give up to the minute prices (plus a small fee, of course Cheesy

)

M2Ys4U

newbie

Activity: 6

Merit: 0

There's already a project to create a BTC ATM underway: http://biticon.wordpress.com/2011/03/31/bitcoin-atm/

niklas_a

newbie

Activity: 14

Merit: 0

If nothing else this would be a huge publicity stunt for BitCoin.

gmaxwell

staff

Activity: 4158

Merit: 8382

Has anyone considered assembling a hardened vending machine (perhaps a retrofitted change machine) into a device that converts USD to bitcoin?

You'd put them in publicly accessible places. Person walks up and scans a QR code of a wallet ID off a phone or from a printout (speech recognition is out due to mixed case, most likely), then stuff money into it. It prints a receipt (including a QR code of the TX itself, to guard against network problems) and sends money to you on the network.

Bill validators don't appear to be very expensive. While I don't think this would be a profitable business on its own any time soon (and would only be interesting in a few major cities right now) it might be something worth operating for the sake of increasing the viability of bitcoin.

Going the other direction (BTC->$) has some extra complications— requiring a retrofit of an more costly atm and having instant gratification problems since waiting around the machine for a block confirmation would suck (and not waiting would almost certainly be exploited).

BTC->$ doesn't solve the more urgent issue of "I want to use this BTC thing but can't get any money in it before I lose interest, because mining now has high upfront costs", but $-> BTC sure does.

Topic: Bitcoin vending — Making it easie to convert cash to coins (Read 1497 times)