Europe killing the crypto atm business - page 2.

Woolles890

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Quote from: WillyZ on November 21, 2018, 04:54:48 AM

Quote from: botany on October 06, 2016, 08:24:09 PM

Quote from: gentlemand on October 06, 2016, 12:13:43 PM

Can we get a TLDR?

I think KYC/AML free ATMs are already something of a mythical thing. I've heard of ATMs wanting palm prints, photos of faces and every possible detail of your life.

That is true. ATMs only offer convenience, not anonymity.
And in a developed economy, you expect AML controls to be in place.

Unfortunately if you want convenience then you got to give something back, pay for it. In this case, you pay with your identity, your info.

If a conclusion like this means that the crypto ATM is actually not too important besides that the crypto ATM already has data and identity that will be known by the government, so tracking anonymously bitcoin is known and not anonymous anymore.

WillyZ

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Quote from: botany on October 06, 2016, 08:24:09 PM

Quote from: gentlemand on October 06, 2016, 12:13:43 PM

Can we get a TLDR?

I think KYC/AML free ATMs are already something of a mythical thing. I've heard of ATMs wanting palm prints, photos of faces and every possible detail of your life.

That is true. ATMs only offer convenience, not anonymity.
And in a developed economy, you expect AML controls to be in place.

Unfortunately if you want convenience then you got to give something back, pay for it. In this case, you pay with your identity, your info.

primejia

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Quote from: gentlemand on October 06, 2016, 12:13:43 PM

Can we get a TLDR?

I think KYC/AML free ATMs are already something of a mythical thing. I've heard of ATMs wanting palm prints, photos of faces and every possible detail of your life.

ATM like that doesn't seem very good because it is very vulnerable to user data manipulation, maybe ATM with handprints is quite safe without any other systems, but in Europe it might be all tight so it's possible, but in developing countries like Asia ATM like this we don't seem to find it, if there is a sense that there are not many interested people because it is too complicated and disrupts one's privacy.

rosemary4u

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I believe other countries outside Europe can't wait to have bitcoin ATMs. Anyway, it is a good start, I believe the usual ATMs we have around the world started with a handful. Currently there are countless ATMs, as knowledge on crypto increases, the number of bitcoin ATMs around the world will also increase.

Tyger

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Quote

I searched too for "crypto", "atm", "bitcoin" and no result so reading the whole pdf takes lots of time.
Anyway if it is that people are not allowed to use ATM or buying bitcoin<=>cash then people will find always a way how to buy or sell bitcoins.

Look at page 30, its about limiting the amount for anonymous buying btc.

Quote

Actually I believe ATM is against the concept of bitcoin.Why would you want to go to atm to buy or convert your coins when you can do it from the comfort of your home online?

Because not all people know the basics of using a computer and safely buying and selling bitcoins. And you have to to the paperwork before you can do anything.

botany

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Quote from: FLoving on October 09, 2016, 05:11:11 PM

A time will come when we will not need these ATMs and we will like to have only bitcoin and we will easily use our bitcoins for any purpose of us just like we recharge our cell phone within a minute directly with bitcoins.

That is utopia. We don't know when that will ever happen.
If that happens, all ATMs will be shut down, not just bitcoin ATMs.

FLoving

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A time will come when we will not need these ATMs and we will like to have only bitcoin and we will easily use our bitcoins for any purpose of us just like we recharge our cell phone within a minute directly with bitcoins.

SmartIphone

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Quote from: mindrust on October 09, 2016, 04:58:28 PM

There is anything about bitcoin in that pdf. I searched it and found nothing. They can put a limit on withdrawals/deposits but it doesn't equal a ban.

I searched too for "crypto", "atm", "bitcoin" and no result so reading the whole pdf takes lots of time.
Anyway if it is that people are not allowed to use ATM or buying bitcoin<=>cash then people will find always a way how to buy or sell bitcoins.

mindrust

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There is anything about bitcoin in that pdf. I searched it and found nothing. They can put a limit on withdrawals/deposits but it doesn't equal a ban.

btvGainer

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Quote from: Tyger on October 06, 2016, 10:12:37 AM

It seems you won't be buying bitcoins for cash anymore soon.
A limited amount or if you do a kyc aml:

http://ec.europa.eu/justice/criminal/document/files/aml-directive_en.pdf

Actually I believe ATM is against the concept of bitcoin.Why would you want to go to atm to buy or convert your coins when you can do it from the comfort of your home online?

dArkjON

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Quote from: Dora Doll on October 09, 2016, 08:20:40 AM

i think Europe is also a big supporter of bitcoin, i know so many people who are really using bitcoin and are also good supporter of bitcoin,

Yeah the PPL you know Support Bitcoin, but there only small Country they push Bitcoin here in Europe. The big "Europe" dont like or Support Bitcoin they hate it...

Tyger

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Personally i think of a atm as a way to get some btc quick and easy. When this becomes a law its going to be like a exchange, but i dont see the advantages anymore.
found a article btw:
https://www.cryptocoinsnews.com/eu-central-database-bitcoin-users/

Dora Doll

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i think Europe is also a big supporter of bitcoin, i know so many people who are really using bitcoin and are also good supporter of bitcoin,

posternat

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The more that they feel that they have made the system safe for all and kept the Crypto clean of illegal activity, the less overall attention that they will be giving the system. Give them a few feet and then we take a few miles. Little by little it is going to happen.

Oralmat

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Quote from: Tyger on October 06, 2016, 10:12:37 AM

It seems you won't be buying bitcoins for cash anymore soon.
A limited amount or if you do a kyc aml:

http://ec.europa.eu/justice/criminal/document/files/aml-directive_en.pdf

There has to be some give and take along the way and we are going to have to make a few concessions if we ever expect to have a complete social and governmental acceptance. Like trying to push a bill through congress, there will be a few greased palms and scratched backs and in the end it will be worth it. The government has to strengthen that illusion of control and if they do not get at least a small amount of that control, then they are going to go nuts and make the whole system illegal.

Tyger

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yes, but on page 30 i see monthly limit of 150 euro and something about 50. thats insane low.

botany

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Quote from: gentlemand on October 06, 2016, 12:13:43 PM

Can we get a TLDR?

I think KYC/AML free ATMs are already something of a mythical thing. I've heard of ATMs wanting palm prints, photos of faces and every possible detail of your life.

That is true. ATMs only offer convenience, not anonymity.
And in a developed economy, you expect AML controls to be in place.

gentlemand

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Welt Am Draht

Can we get a TLDR?

I think KYC/AML free ATMs are already something of a mythical thing. I've heard of ATMs wanting palm prints, photos of faces and every possible detail of your life.

Tyger

full member

Activity: 141

Merit: 102

It seems you won't be buying bitcoins for cash anymore soon.
A limited amount or if you do a kyc aml:

http://ec.europa.eu/justice/criminal/document/files/aml-directive_en.pdf

Topic: Europe killing the crypto atm business - page 2. (Read 1510 times)