Good idea.
My friend thinks the hopper would be $10,000+, but I think the idea would still be a great one.
Put the first location in SF.
I see this being far more important than Bitcoin ATM's.
I will bring more people into Bitcoin which is just as powerful if not more so than huge sums of cash or one large vendor.
Topic: CoinStar - page 3. (Read 9415 times)
Seems like a decent idea - I'd definitely use it if I had a chance. One trouble with using the existing coinstar network is I'm not sure if they're internet connected - anyone know the answer to this one?
the volatility is something drummed into you by media.. if you have not learned yet, coinbase, circle, bitpay don't care about volatility and neither do their merchants.
i do not see it as something that NEEDS to be released today, but to be thought about and to grow in the minds of outerwall inc, so that its ready for when bitcoin moves out of innovation phase and into mass adoption phase.
I think CincyFan was saying that consumers will be too paranoid about volatility to put their money into bitcoin. Not a coinbase etc. side issue.
I think it's a smart idea marhjan. It would certainly get the bitcoin ideal in front of more people. The only trouble I see with it is fiat price volatility. People will likely choose a gift card payout that will maintain its fiat value for more than a few minutes.
Unfortunately, for now, people don't really understand the true value of bitcoin.
Unfortunately, for now, people don't really understand the true value of bitcoin.
the volatility is something drummed into you by media.. if you have not learned yet, coinbase, circle, bitpay don't care about volatility and neither do their merchants.
i do not see it as something that NEEDS to be released today, but to be thought about and to grow in the minds of outerwall inc, so that its ready for when bitcoin moves out of innovation phase and into mass adoption phase.
I think CincyFan was saying that consumers will be too paranoid about volatility to put their money into bitcoin. Not a coinbase etc. side issue.
I think it's a smart idea marhjan. It would certainly get the bitcoin ideal in front of more people. The only trouble I see with it is fiat price volatility. People will likely choose a gift card payout that will maintain its fiat value for more than a few minutes.
Unfortunately, for now, people don't really understand the true value of bitcoin.
Unfortunately, for now, people don't really understand the true value of bitcoin.
the volatility is something drummed into you by media.. if you have not learned yet, coinbase, circle, bitpay don't care about volatility and neither do their merchants.
i do not see it as something that NEEDS to be released today, but to be thought about and to grow in the minds of outerwall inc, so that its ready for when bitcoin moves out of innovation phase and into mass adoption phase.
well i just sent them a message
ill update if I get a reply.
(message was sent to Outerwall Inc, their main company)
and before rebuttals start about that i did not explain bitcoin in all of its great ways.. the reality is that techno waffle doesnt work at first contact, especialy if its seems too sales-pitch 'pushy'. (subtlety works best)
Quote
There has been a lot of developments lately in the financial area known as bitcoin.
Just like itunes and other gift cards, alot of people are looking to find the simplest ways to buy bitcoins without the hassle of using credit cards and/or doing so online. as we both know, many folk still prefer to use proper cash locally in shops they can walk into.
So it came to my attention whilst using one of your wonderful machines that your company can fill this niche market whilst yourselves making profits on the conversion process (transaction fee).
Thus I and many customers around the world would look forward to seeing Coinstar adopt bitcoin as one of your conversion options in the near future.
I look forward to any response you may have on any current plans to adopt bitcoin as part of the conversion services you offer or of course any future plans you may decide to take involving bitcoin
Just like itunes and other gift cards, alot of people are looking to find the simplest ways to buy bitcoins without the hassle of using credit cards and/or doing so online. as we both know, many folk still prefer to use proper cash locally in shops they can walk into.
So it came to my attention whilst using one of your wonderful machines that your company can fill this niche market whilst yourselves making profits on the conversion process (transaction fee).
Thus I and many customers around the world would look forward to seeing Coinstar adopt bitcoin as one of your conversion options in the near future.
I look forward to any response you may have on any current plans to adopt bitcoin as part of the conversion services you offer or of course any future plans you may decide to take involving bitcoin
ill update if I get a reply.
(message was sent to Outerwall Inc, their main company)
and before rebuttals start about that i did not explain bitcoin in all of its great ways.. the reality is that techno waffle doesnt work at first contact, especialy if its seems too sales-pitch 'pushy'. (subtlety works best)
I love the idea! Someone make it happen and I would definitely use it
I think it's a smart idea marhjan. It would certainly get the bitcoin ideal in front of more people. The only trouble I see with it is fiat price volatility. People will likely choose a gift card payout that will maintain its fiat value for more than a few minutes.
Unfortunately, for now, people don't really understand the true value of bitcoin.
Unfortunately, for now, people don't really understand the true value of bitcoin.
i see what you mean -- literally a coinstar machine -- got you.
that would be crazy. it would also provide a purpose for that big ass water jug full of pennies at my in-laws house. i'd commandeer that sh!t quick-fast.
that would be crazy. it would also provide a purpose for that big ass water jug full of pennies at my in-laws house. i'd commandeer that sh!t quick-fast.
Yep - that's EXACTLY my point. Hopefully someone with some business sense will run with this and make a little money while providing a service as well
i see what you mean -- literally a coinstar machine -- got you.
that would be crazy. it would also provide a purpose for that big ass water jug full of pennies at my in-laws house. i'd commandeer that sh!t quick-fast.
that would be crazy. it would also provide a purpose for that big ass water jug full of pennies at my in-laws house. i'd commandeer that sh!t quick-fast.
Not really like an ATM at all - and based on that map the closest one to me is several hundred miles.... There is also a huge existing network of CoinStar machines - and I highly doubt these btc ATMs are going to accept a bucket of change either. But thanks for the read and reply
I had this idea today - and should probably try to develop it myself but that won't really happen. So - anyway I'm just going to leave this here and see if anyone will run with it.
You know those CoinStar machines in supermarkets etc? (in USA afaik) They convert small change into USD for a fee of about 9% - most of them now also have the option to buy various gift cards for the full value of your change (Amazon, ITunes, various restaurants etc...)
What if someone set up a venture to sell btc this way?? It's irreversible once the customer prints out the voucher - so no worries about chargebacks etc. You could either print out both the public and private keys on the voucher or some redemption code valid on Coinbase or Circle or some other yet to exist site. This would never be a way to buy large amounts of btc (or even other alt coins) but pretty much everyone has at least $50 in change laying around and a good way to get people 'on the fence' involved.
Anyway - it strikes me as a good idea. Feel free to discuss and develop it. I really hope one day soon it's an option to convert my spare change into btc!
You know those CoinStar machines in supermarkets etc? (in USA afaik) They convert small change into USD for a fee of about 9% - most of them now also have the option to buy various gift cards for the full value of your change (Amazon, ITunes, various restaurants etc...)
What if someone set up a venture to sell btc this way?? It's irreversible once the customer prints out the voucher - so no worries about chargebacks etc. You could either print out both the public and private keys on the voucher or some redemption code valid on Coinbase or Circle or some other yet to exist site. This would never be a way to buy large amounts of btc (or even other alt coins) but pretty much everyone has at least $50 in change laying around and a good way to get people 'on the fence' involved.
Anyway - it strikes me as a good idea. Feel free to discuss and develop it. I really hope one day soon it's an option to convert my spare change into btc!
You mean like an ATM? They're out there:
http://www.coindesk.com/bitcoin-atm-map/
I had this idea today - and should probably try to develop it myself but that won't really happen. So - anyway I'm just going to leave this here and see if anyone will run with it.
You know those CoinStar machines in supermarkets etc? (in USA afaik) They convert small change into USD for a fee of about 9% - most of them now also have the option to buy various gift cards for the full value of your change (Amazon, ITunes, various restaurants etc...)
What if someone set up a venture to sell btc this way?? It's irreversible once the customer prints out the voucher - so no worries about chargebacks etc. You could either print out both the public and private keys on the voucher or some redemption code valid on Coinbase or Circle or some other yet to exist site. This would never be a way to buy large amounts of btc (or even other alt coins) but pretty much everyone has at least $50 in change laying around and a good way to get people 'on the fence' involved.
Anyway - it strikes me as a good idea. Feel free to discuss and develop it. I really hope one day soon it's an option to convert my spare change into btc!
You know those CoinStar machines in supermarkets etc? (in USA afaik) They convert small change into USD for a fee of about 9% - most of them now also have the option to buy various gift cards for the full value of your change (Amazon, ITunes, various restaurants etc...)
What if someone set up a venture to sell btc this way?? It's irreversible once the customer prints out the voucher - so no worries about chargebacks etc. You could either print out both the public and private keys on the voucher or some redemption code valid on Coinbase or Circle or some other yet to exist site. This would never be a way to buy large amounts of btc (or even other alt coins) but pretty much everyone has at least $50 in change laying around and a good way to get people 'on the fence' involved.
Anyway - it strikes me as a good idea. Feel free to discuss and develop it. I really hope one day soon it's an option to convert my spare change into btc!
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