Bitcoin Forum>Other>Off-topic
Author

Topic: Help me understand this BitcoinATM thingy. (Read 407 times)

Phinnaeus Gage
legendary
Activity: 1918
Merit: 1570
Bitcoin: An Idea Worth Spending
Help me understand this BitcoinATM thingy.
May 04, 2013, 07:22:57 PM
#3
Quote from: myrkul on May 04, 2013, 05:17:08 PM
I'd have a hard time believing Jeff guilty of any skullduggery, But it's likely there were some, let's say "personal differences."

Jeff's a hardcore ancap. He'd be pushing BitcoinATM to flaunt as many AML regs as possible, to make it as easy as possible to get dollars turned into bitcoins and vice versa. It's probable this would put the American-based BitcoinATM team in the crosshairs of FinCEN, which Jeff, being an Expat, would avoid.

Let's chalk it up to "difference of strategies," I think.

It's the Expat concerns that I believe is the reason he had to back away from this project, at least in front of the scenes. He probably even had to make that stance public. Maintaining a lower profile, he's probably still able to help bring the idea to fruition.

Thanks for you post, myrkul.
myrkul
hero member
Activity: 532
Merit: 500
FIAT LIBERTAS RVAT CAELVM
Re: Help me understand this BitcoinATM thingy.
May 04, 2013, 05:17:08 PM
#2
I'd have a hard time believing Jeff guilty of any skullduggery, But it's likely there were some, let's say "personal differences."

Jeff's a hardcore ancap. He'd be pushing BitcoinATM to flaunt as many AML regs as possible, to make it as easy as possible to get dollars turned into bitcoins and vice versa. It's probable this would put the American-based BitcoinATM team in the crosshairs of FinCEN, which Jeff, being an Expat, would avoid.

Let's chalk it up to "difference of strategies," I think.
Phinnaeus Gage
legendary
Activity: 1918
Merit: 1570
Bitcoin: An Idea Worth Spending
Re: Help me understand this BitcoinATM thingy.
May 04, 2013, 04:44:23 PM
#1
As of March 8, 2013, BitcoinATM and all it curtails was still on the marketplace: http://web.archive.org/web/20130308235704/http://bitcoinatm.com/

Quote
FOR SALE:
 
BitcoinATM (in its entirety)
 
California 'C' corp
Authorized Capital:  10 million shares, with 8 million shares of Series A Common Stock (voting) and 2 million shares of Series B Common Stock (non-voting)
 
Price: 2000btc (negotiable terms)

On April 3, 2013, we see new owners have taken over the site, with Jeff Berwick as the new CEO: http://web.archive.org/web/20130403144232/https://bitcoinatm.com/

Quote
Who We Are

Jeff Berwick, C.E.O.

Bitcoin ATM is Jeff Berwick's (StockHouse, TDV Media) vision for the future of finance. Born out of the increased demand worldwide for digital currencies, and the increasing recognition of these currencies by governmental bodies, Bitcoin ATM was founded to supply a service for which there is a demand in the marketplace, and revolutionize the ATM industry in the process. Bridging mainstream finance and cutting edge technology together, there has never been more possibility with Bitcoin ATM.

From the same last link above:

Quote
Why Invest

Jeff Berwick, successful business entrepreneur, recently stated in his newsletter that "Bitcoin would give rise to the next billion-dollar company." With all the ways in which the ATM industry thrives, it has only partially been updated since its first uses in Europe many decades ago. No industry has been riper for a facelift than the ATM industry. Bitcoin ATM aims to do just this.

Within 30 days, Jeff makes 17 appearance, none of which mention an Evan Rose.

Quote
As Seen On

DollarVigilante
Washington Post
Daily Caller
Forbes.com
Mashable.com
Reason.com
Vice.com
SFGate
Yahoo.com
IB Times
eCommerceBytes.com
GlobalPost.com
DailyDot.com
ATM Market Place
BNamericas
MaxKeiser.com
SilverVigilante.com

Less than a month later, Evan let's Jeff go as CEO, a position obtained via a handshake on Skype: http://dollarvigilante.com/blog/2013/5/2/my-official-withdrawal-from-the-bitcoinatm-project.html

From: http://web.archive.org/web/20120708070219/http://bitcoinatm.com/

Quote
Bitcoin ATM is planning 200 Bitcoin ATMs worldwide by Q3 2012.

And it, too, was first introduced in San Diego: Same link as above.

Quote
The world's first bitcoin ATM was successfully beta tested in public for the first time at ‘Cool As Ever Tech’  Saturday, August 13th, 2011, 12pm - 6pm. San Diego, CA.

Given the above, how does a man who knows business doesn't obtain a signed contract ASAP, when in fact he wouldn't even do such with his own brother? Yet, we're led to believe that without any contract in hand, acting as the CEO for BitcoinATM, and using his name to amass investors, Jeff takes most of his available time in a thirty day period to garner support for the BitcoinATM project.

Hell, parts of the previous play book were even in play: (revisited)

Quote
Bitcoin ATM is planning 200 Bitcoin ATMs worldwide by Q3 2012.

Compare: http://maxkeiser.com/2013/04/29/bitcoinatm-goes-live-in-california/

Quote
Since announcing its technology, the company has received franchisee inquiries from 300 groups in over 30 countries spanning every continent on the globe except Antarctica.

Bonus Video: https://www.youtube.com/watch?v=HciOEH4oELY
Bitcoin Forum>Other>Off-topic
Jump to: