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Topic: do bitcoin ATMs really suck this much? - page 5. (Read 6495 times)

newbie
Activity: 16
Merit: 0
August 17, 2014, 08:16:04 PM
#45
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.
hero member
Activity: 812
Merit: 500
August 17, 2014, 08:08:47 PM
#44
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.


Some people never put a photo on facebook bro....
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
August 17, 2014, 08:05:07 PM
#43
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.


r u Canadian ?
newbie
Activity: 9
Merit: 0
August 17, 2014, 07:01:05 PM
#42
At least this one seems to suck consistently.

BitAccess ATM have more issues than a 50 years old space shuttle.
hero member
Activity: 756
Merit: 506
August 17, 2014, 12:20:14 AM
#41
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.
sr. member
Activity: 350
Merit: 250
'Slow and steady wins the race'
August 17, 2014, 12:06:38 AM
#40
You can always try and get away with fake cash, you know that right. It's easier on ATMs than anything else.
hero member
Activity: 784
Merit: 500
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August 17, 2014, 12:05:07 AM
#39
The worst from bitcoin ATM is It needs forever for confirmation.
Bitcoin need faster confirmation time, especialy when using bitcoin ATM
sr. member
Activity: 378
Merit: 250
August 16, 2014, 11:53:38 PM
#38
If FedGov says that Bitcoin is property, not currency... then why do they create all the f___ing hassle just to buy some? I can go to Walmart and buy a computer for $520 in cash... so why not a Bitcoin?
Just because they won't admit it doesn't mean it isn't so, I see this as good news considering the hoops these guys had to jump through are just as bad as when you trade fiat for fiat elsewhere.
full member
Activity: 154
Merit: 100
August 16, 2014, 11:34:21 PM
#37
I was just looking for them not long ago for using Gyft to buy them. The $50 limit and fees made it unfeasible. Even moneypaks require ID. Maybe you can get some at a bank, I never tried that but I doubt a bank would do anything without ID.

Walmart has $200 mastercard ones for a $6 fee too. Might be workable if they don't ID, 3% isn't that bad really. Though it sounds like you want BTC -> Visa which is no good unless Walmart starts accepting BTC Wink

But the point is these seem fairly exploitable, yet we have all these ridiculous rules requiring fingerprint and ID scans to do the same thing with bitcoin.
donator
Activity: 1736
Merit: 1014
Let's talk governance, lipstick, and pigs.
August 16, 2014, 11:32:22 PM
#36
Yes you can buy them online for larger amounts, but ID is required.

Quote
How to Purchase
Order a Gift Card online in any amount from $25 to $500. Or, visit any ACUTX location to purchase gift cards in any amount from $25 to $ 1,000.

I've bought these from plenty of gas stations and never been ID'ed. I doubt they will ID you, it doesn't say they do on the website.
I was just looking for them not long ago for using Gyft to buy them. The $50 limit and fees made it unfeasible. Even moneypaks require ID. Maybe you can get some at a bank, I never tried that but I doubt a bank would do anything without ID.
full member
Activity: 154
Merit: 100
August 16, 2014, 11:28:50 PM
#35
Yes you can buy them online for larger amounts, but ID is required.

Quote
How to Purchase
Order a Gift Card online in any amount from $25 to $500. Or, visit any ACUTX location to purchase gift cards in any amount from $25 to $ 1,000.

I've bought these from plenty of gas stations and never been ID'ed (though not ones so large). I doubt they will ID you, it doesn't say they do on the website.
donator
Activity: 1736
Merit: 1014
Let's talk governance, lipstick, and pigs.
August 16, 2014, 11:27:19 PM
#34
In Texas $50 is the largest.

Quick Google search says you can buy a $1,000 one from Acutx Credit Union in Austin, Tx:

https://www.acutx.org/account-services/convenience/visa-gift-card

It doesn't specifically say but I don't think you need to provide ID. I'm sure you can get them in other places in Texas too.
Yes you can buy them online for larger amounts, but ID is required.
full member
Activity: 154
Merit: 100
August 16, 2014, 11:26:12 PM
#33
In Texas $50 is the largest.

Quick Google search says you can buy a $1,000 one from Acutx Credit Union in Austin, Tx:

https://www.acutx.org/account-services/convenience/visa-gift-card

It doesn't specifically say but I don't think you need to provide ID. You can order a $500 value card from them online too. I'm sure you can get them in other places in Texas too. You can definitely buy $1,000 value visa gift cards from gas stations in other places in the US.
donator
Activity: 1736
Merit: 1014
Let's talk governance, lipstick, and pigs.
August 16, 2014, 11:22:48 PM
#32
There is a $4.95 fee for a $50 card. If you buy $600 worth of cards you will pay $59.40 in fees.

Actually you can buy higher value cards for a lesser percentage fee than that. The largest one I've seen is $1,000 though I don't remember the fee offhand.

But thats beside the point. The point is you can buy these gift cards at any gas station anonymously (no personal information required), but you can't buy bitcoin from an ATM without fingerprint and ID scans due to AML. Why is that? The risks of misuse are almost exactly the same.
In Texas $50 is the largest.
full member
Activity: 154
Merit: 100
August 16, 2014, 11:21:11 PM
#31
There is a $4.95 fee for a $50 card. If you buy $600 worth of cards you will pay $59.40 in fees.

Actually you can buy higher value cards for a lesser percentage fee than that. The largest one I've seen at a gas sation is $1,000 value though I don't remember the fee offhand. I'm sure the fee varies depending on the retailer, but they're not that expensive.

But thats beside the point. The point is you can buy these gift cards at any gas station anonymously (no personal information required), but you can't buy bitcoin from an ATM without fingerprint and ID scans due to AML. Why is that? The risks of misuse are almost exactly the same.
legendary
Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
August 16, 2014, 11:11:37 PM
#30
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.

Blame the government for making all the KYC AML stuff a giant pain
It should be way simpler and this is a damn overcompliant machine.
Handscans
Photo ID

Da heck why on earth would I do this much, just have a machine that asks for photo ID done.
As for fees rental costs accounting getting compliance mumble.
hero member
Activity: 812
Merit: 500
August 16, 2014, 10:55:46 PM
#29
Genesis1 i tried did not required anything besides 20$ bills. It gave them and took them. Not issue.

I had a similar experience.

It actually gave $20 bills?  I thought bitcoin "atms" only took cash and gave you bitcoins?  You can actually sell your bitcoins for cash at ATMs now?

Is this only the genesis ATM?  I know most ATMs only allow you to buy bitcoin.

Ya you can cash out bitcoins for fiat.
donator
Activity: 1736
Merit: 1014
Let's talk governance, lipstick, and pigs.
August 16, 2014, 10:53:44 PM
#28
ETA: Actually, Idunno if anyone does BitInstant's model anymore, but going to 7/11 or whatever and filling out a WU-like form might be the better option. I don't remember what all was involved with that, but IIRC, it wasn't very invasive.

What about those little prepaid visa gift cards in 7/11?



They don't require ID scans or fingerprints to buy. In fact they don't require any personal information at all, they are technically anonymous.

I wonder if regulations allow for someone to make a Bitcoin version, if not, then won't those visa cards be used by "terrorists" to launder money too?
Forget privacy issues.

The reason Bitcoin ATMs suck is because the  owners are ripping people off with the "spread" price from buy to sell.

Often times $50 to $100 or more.   

Idiots.  People's greed is what will stop Bitcoin from going to the moon quickly.

ATM company operators should make rules about this shit.  Limits.  Like ... spread can't be more than $3.00

Like a typical ATM fee.

I never anticipated that Bitcoin ATMS would be rendered useless by this.  I thought people would be able to buy Bitcoins with them.  But they can't.

-B-

There is a $4.95 fee for a $50 card. If you buy $600 worth of cards you will pay $59.40 in fees.
hero member
Activity: 924
Merit: 1001
August 16, 2014, 10:49:46 PM
#27
Forget privacy issues.

The reason Bitcoin ATMs suck is because the  owners are ripping people off with the "spread" price from buy to sell.

Often times $50 to $100 or more.  

Idiots.  People's greed is what will stop Bitcoin from going to the moon quickly.

ATM company operators should make rules about this shit.  Limits.  Like ... spread can't be more than $3.00

Like a typical ATM fee.

I never anticipated that Bitcoin ATMS would be rendered useless by this.  I thought people would be able to buy Bitcoins with them.  But they can't.

-B-
hero member
Activity: 560
Merit: 500
★777Coin.com★ Fun BTC Casino!
August 16, 2014, 10:48:03 PM
#26
Bitcoin ATMs are an Orwellian nightmare .. palm scanners, fingerprints, driver license scan. Hell, soon they will be taking DNA swabs .. fuck that.

AVOID ATMs. Buy bitcoins anonymously on LocalBitcoins or an ANONYMOUS EXCHANGE!
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