You just waste money to create Bitcoin ATM
I think we just need 1 smartphone (with bitcoin wallet) & barcode address (or you can show barcode image on your smartphone)
It's much more simpler & faster
I think Bitcoin ATM will fail & closed
Topic: do bitcoin ATMs really suck this much? - page 4. (Read 6500 times)
I think we don't need bitcoin ATm
You just waste money to create Bitcoin ATM
I think we just need 1 smartphone (with bitcoin wallet) & barcode address (or you can show barcode image on your smartphone)
It's much more simpler & faster
I think Bitcoin ATM will fail & closed
You just waste money to create Bitcoin ATM
I think we just need 1 smartphone (with bitcoin wallet) & barcode address (or you can show barcode image on your smartphone)
It's much more simpler & faster
I think Bitcoin ATM will fail & closed
I view it as setting up a bank account because after the initial set up I can return to the ATM and simply buy Bitcoin just like I would withdraw cash from a normal ATM. Also, I had a pleasant experience.
If you have not watched the Tested video of them buying bitcoin from an ATM it is so worthwhile:
http://www.tested.com/tech/concepts/460600-tested-we-buy-bitcoin/
Watch as the guy goes from enthusiastic confident bitcoin proponent to angry hater in just 15 minutes
http://www.tested.com/tech/concepts/460600-tested-we-buy-bitcoin/
Watch as the guy goes from enthusiastic confident bitcoin proponent to angry hater in just 15 minutes
Just 11 simple steps, with one of the steps including a 15 minute wait..
So futuristic.
So futuristic.
It's not bitcoin, it's the KYC laws
This is the fault of government regulation. This is what a bitcoin ATM that ignores regulation looks like.
http://instagram.com/p/oGedybhnQF/
http://instagram.com/p/oGedybhnQF/
https://m.youtube.com/watch?v=vnm4xFC2xNo
so you have to scan your hand four times, and give them your id...and your phone number...and still pay only with cash? da fuq.
so you have to scan your hand four times, and give them your id...and your phone number...and still pay only with cash? da fuq.
ATM version for kyc and aml compliance.
For definitive ID purpose, they should have ask for sperm rather than hand print.
Bitcoin ATM's are still new tech, hopefully with time they'll become more competitive and easy to use.
Everybody seem to be saying this, but I suspect they will get worse before they get better.
Here are the instructions for using a machine I was not able to find. I believe it was pulled and similar machines are not available simply over regulatory concerns.
Edit: the vending machine I found is smart enough to scan the QR code before asking for money.
Well in Canada the issue is over Bill C-31 which requires provisions on virtual currencies like Bitcoin, requiring similar reporting and regulatory standards applied by traditional financial markets. The new law regulates Bitcoin as a “money service business” and specifically addresses dealers in virtual currencies. It is expected to cover Bitcoin exchanges and ATMs.
The amendments make Bitcoin and all digital currencies subject to the requirements currently applicable to money services businesses. Bitcoin exchanges will now be required to register with FINTRAC, report suspicious and other transactions, keep certain records, implement compliance plans, and determine if any of their customers are “politically exposed persons.”
It makes it a major PITA to be compliant with them though a service like idology.com can cost up to 2500 for the year to scan ids and verify users.
Some machines now come with KYC and AML built in but machines like the Lamassu ATM would need to cover the cost on their own.
Major PITA for a machine to be compliant in a customer-not-present environment.
So taking accounting costs, rental costs, and the compliance aspect their are problems with just getting one out that meets these standards and keeping the costs down.
Bitcoin ATM's are still new tech, hopefully with time they'll become more competitive and easy to use.
Everybody seem to be saying this, but I suspect they will get worse before they get better.
Here are the instructions for using a machine I was not able to find. I believe it was pulled and similar machines are not available simply over regulatory concerns.
Edit: the vending machine I found is smart enough to scan the QR code before asking for money.
Bitcoin ATM's are still new tech, hopefully with time they'll become more competitive and easy to use.
I tried the one (also robocoin based) in West Edmonton Mall. I failed the "input confirmation code" step (no cell-phone).
I eventually found a Bitcoin vending machine in a bar that was actually within biking distance. All it wanted was a QR code and money.
I found it amusing that they put in almost exactly $666.
I hope he gets his money back.
~1BTC should be a high-priority transaction within 24 hours (of the taco purchase).
I eventually found a Bitcoin vending machine in a bar that was actually within biking distance. All it wanted was a QR code and money.
I found it amusing that they put in almost exactly $666.
I hope he gets his money back.
~1BTC should be a high-priority transaction within 24 hours (of the taco purchase).
I used a bitcoin ATM for the 1st time yesterday. It was a Lamassu one and it was so easy to use. 3 steps, push start, scan QR code and insert money, done.
No fingerprint, no eye scan just easy bitcoin purchase they way it should be.
No fingerprint, no eye scan just easy bitcoin purchase they way it should be.
The main problem is that the unit makes it easy as heck
But the question is how do they maintain Know Your Client and Anti-Money Laundering compliance on the machine
Government regulations on money service businesses means that it is a giant pain to get it complying or risk getting in trouble with gov.
Holy shit, talking about raping your identity just to buy. For mainstream adoption, this is actually negative publicity for bitcoin.
I used a bitcoin ATM for the 1st time yesterday. It was a Lamassu one and it was so easy to use. 3 steps, push start, scan QR code and insert money, done.
No fingerprint, no eye scan just easy bitcoin purchase they way it should be.
No fingerprint, no eye scan just easy bitcoin purchase they way it should be.
^They aren't explicitly required to take a vein print, but they have to know, pretty absolutely, who they're dealing with in real-time so they don't break draconian AML law in the US (and any other country so backward).
Vein scanning IS the improvement. 
The alternative is full KYC, then issuing the customer a card which has to be renewed every so often, which is what the banks do.
everything starts off broken, it will get fixed in the future.
This simple statement has a lot of merit... anyone old enough to remember the first PC or Cell phone will attest to the fact that there will need to be multiple levels of improvements on each level b4 there is a sense of transparency and security... don't jump off the boat at the first sign of a wave. The alternative is full KYC, then issuing the customer a card which has to be renewed every so often, which is what the banks do.
I don't know why the manufactures put this crap on. Where is the legislation that says you must take a hand print? Sif hand print is valid anyway.
everything starts off broken, it will get fixed in the future.
This simple statement has a lot of merit... anyone old enough to remember the first PC or Cell phone will attest to the fact that there will need to be multiple levels of improvements on each level b4 there is a sense of transparency and security... don't jump off the boat at the first sign of a wave. My local ATM does not scan my hand or ask for any government ID. I strongly suspect, however, that they do take photos.
There was a riot in my area some years ago and the police used sophisticated software to match people in the riot photographs with accounts on Facebook, in order to identify and arrest people. If the ATM is storing images of its' users then the Police or the Government can cross compare that information with Facebook to find out who is a crypto currency user and/or has not paid their capital gains' tax.
I don't think this kind of evidence would really hold up in court. This kind of technology is not accurate enough if this is the only evidence against you. There was a riot in my area some years ago and the police used sophisticated software to match people in the riot photographs with accounts on Facebook, in order to identify and arrest people. If the ATM is storing images of its' users then the Police or the Government can cross compare that information with Facebook to find out who is a crypto currency user and/or has not paid their capital gains' tax.
My local ATM does not scan my hand or ask for any government ID. I strongly suspect, however, that they do take photos.
There was a riot in my area some years ago and the police used sophisticated software to match people in the riot photographs with accounts on Facebook, in order to identify and arrest people. If the ATM is storing images of its' users then the Police or the Government can cross compare that information with Facebook to find out who is a crypto currency user and/or has not paid their capital gains' tax.
There was a riot in my area some years ago and the police used sophisticated software to match people in the riot photographs with accounts on Facebook, in order to identify and arrest people. If the ATM is storing images of its' users then the Police or the Government can cross compare that information with Facebook to find out who is a crypto currency user and/or has not paid their capital gains' tax.
Some people never put a photo on facebook bro....
And some people don't have a facebook account or anything like it. google me and you will find nothing.
For bank KYC they basically ask if you're a terrorist and I don't think they ever received the answer yes
When they asked about my job I said unemployed. Yes a bank knows your name, address, dl and ss# but it's been that way for a very long time.Just buy your ATM btc on Halloween
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Core dev leaves me neg feedback #abuse #political
Looks stupid so much hassle to actually buy it from that ATM I'm not sure that all ATM's require all the information from you though.
it is really not that much of a hassle. The entire process only takes minutes when compared to days/weeks to complete the kyc process at most exchanges and not only that but deposits/withdrawals are instant. True, but imo feels like an invasion of privacy and government nanny-ism
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