Skyhook Bitcoin ATM for Sale only $1040 with shipping included to USA - page 2.

btcbug

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Quote from: AmDD on August 15, 2014, 10:00:50 AM

Quote from: bitbandit on August 15, 2014, 09:11:36 AM

Quote

Hi, I don't think I'm understanding you correctly. How is the operator protected against volatility exactly?

Walk me through this if I was initially setting up the unit. Would I purchase Bitcoins from an exchange and then transfer them to my ATM operating wallet? What happens after that? If a user makes a purchase does the machine automatically top up the wallet? Thanks.

The operator is not protected against volatility. All they can do is set a minimum price so that it does not sell below what you paid for the bitcoin.

For example I bought $1000 and put it on my skyhook atm and then bitcoin has fallen over $100. My bitcoin is overpriced and I have sold nothing. I mistook the term "pull request" to mean that it could be hooked up to buy bitcoin in real time when someone uses the atm. Wrong!

That makes sense but you also have to look at the other side of the fence. If you bought at $600 and now sell at $500 you can take that USD can purchase more BTC for your ATM at a lower price. Tieing the ATM directly to an exchange would make this process happen in realtime, but it can be done manually as well.

I think that makes sense now. You have an operator and when a customer buys BTC your wallet is topped up at the current exchange price, which is the price they bought at. Do you know if the machine automatically tops up the operator wallet or does that need to be done manually? If it is manual then I could see it being riskier.

MakeBelieve

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If you ever get a GBP one let me know and I might be interested in getting one of these.

AmDD

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Quote from: bitbandit on August 15, 2014, 09:11:36 AM

Quote

Hi, I don't think I'm understanding you correctly. How is the operator protected against volatility exactly?

Walk me through this if I was initially setting up the unit. Would I purchase Bitcoins from an exchange and then transfer them to my ATM operating wallet? What happens after that? If a user makes a purchase does the machine automatically top up the wallet? Thanks.

The operator is not protected against volatility. All they can do is set a minimum price so that it does not sell below what you paid for the bitcoin.

For example I bought $1000 and put it on my skyhook atm and then bitcoin has fallen over $100. My bitcoin is overpriced and I have sold nothing. I mistook the term "pull request" to mean that it could be hooked up to buy bitcoin in real time when someone uses the atm. Wrong!

That makes sense but you also have to look at the other side of the fence. If you bought at $600 and now sell at $500 you can take that USD can purchase more BTC for your ATM at a lower price. Tieing the ATM directly to an exchange would make this process happen in realtime, but it can be done manually as well.

bitbandit

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Activity: 18

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Quote

Hi, I don't think I'm understanding you correctly. How is the operator protected against volatility exactly?

Walk me through this if I was initially setting up the unit. Would I purchase Bitcoins from an exchange and then transfer them to my ATM operating wallet? What happens after that? If a user makes a purchase does the machine automatically top up the wallet? Thanks.

The operator is not protected against volatility. All they can do is set a minimum price so that it does not sell below what you paid for the bitcoin.

For example I bought $1000 and put it on my skyhook atm and then bitcoin has fallen over $100. My bitcoin is overpriced and I have sold nothing. I mistook the term "pull request" to mean that it could be hooked up to buy bitcoin in real time when someone uses the atm. Wrong!

btcbug

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Activity: 399

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Quote from: frankenmint on August 03, 2014, 11:39:37 AM

Quote from: Smack That Ace on July 30, 2014, 04:26:00 AM

Hello,

I know this question might sound a bit noobish but who provides the liquidity on the exchange ?

Regards

Duke

Ok so that is sort of a trick question - if you are using a centralized 3rd party that is a pseudo-exchange like coinbase they will act as a 3rd party and be able to provide all the btc you need. Otherwise, if you are using an exchange like Bitstamp.net or btc-e.com, then the liquidity is peer based which means an order book where you should set a limit price to buy them at and be sure to set your atm price to match that exchange. The ATM pulls its rate data from BTC-E, blockchain.info, or Bitstamp.net as well with future integration for other exchanges being actively developed.

I think what you're meaning to ask is, who provides the BTC for the ATMS? They do not come preloaded and the owner/operator is expected to simply refill the BTC address when it gets low.

Quote from: smeagol on July 30, 2014, 11:03:23 AM

How much money does this ATM make, per transaction? And if it is owner-set, what is the average fee? Also, can you add an option for other cryptos? Finally, is it buy/sell or only a one-way thing?
I'm very interested, so I apologize for the stream of questions.

The ATM fee can be set by the owner and we suggest between 3-5% fee. It is possible to add other cryptocurrencies however they have not been tested and this is not necessarily an out the box feature (if I understand correctly, the current version of the software is hardcoded to BTC exchange apis for rates and the wallet itself). Please continue and ask away, I'm here to help!

Hi, I don't think I'm understanding you correctly. How is the operator protected against volatility exactly?

Walk me through this if I was initially setting up the unit. Would I purchase Bitcoins from an exchange and then transfer them to my ATM operating wallet? What happens after that? If a user makes a purchase does the machine automatically top up the wallet? Thanks.

iglasses

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gondel I think it comes with a mounting plate to secure it to where it's put. It supposedly also has a power on password so even if it was stolen the thief could not easily get the coin out of it...although I'm not clear on how that would help you.

gondel

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Hello,
Is there some possible way to chain this ATM?
I am asking,because it looks very little and easy to be stolen. Are you shipping to Europe?
Thanks

AmDD

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I would love to buy one of these! Too bad I don't own a business or have anywhere to put one in a public area.

smeagol

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How do these compare to Liberty Tellers?

fishy

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What do you call a fish with no eyes? A Fsh!

Is there a map of places where they are in effect? I'd like to try and use one.

Beastlymac

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Miner Setup And Reviews. WASP Rep.

Quote from: OgNasty on August 04, 2014, 01:21:30 AM

Is it possible to use your own public/private keys to hold the ATM's funds?

If you don't already have a Bitcoin address, can it print a receipt with public/private keys that hold the withdrawn funds?

The funds are held in a blockchain.info account. It sends to a key you provide via qr scanned by the camera.

OgNasty

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Leading Crypto Sports Betting & Casino Platform

Is it possible to use your own public/private keys to hold the ATM's funds?

If you don't already have a Bitcoin address, can it print a receipt with public/private keys that hold the withdrawn funds?

Smack That Ace

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Free Free Palestine

Thankyou for your answer

frankenmint

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Quote from: Smack That Ace on July 30, 2014, 04:26:00 AM

Hello,

I know this question might sound a bit noobish but who provides the liquidity on the exchange ?

Regards

Duke

Ok so that is sort of a trick question - if you are using a centralized 3rd party that is a pseudo-exchange like coinbase they will act as a 3rd party and be able to provide all the btc you need. Otherwise, if you are using an exchange like Bitstamp.net or btc-e.com, then the liquidity is peer based which means an order book where you should set a limit price to buy them at and be sure to set your atm price to match that exchange. The ATM pulls its rate data from BTC-E, blockchain.info, or Bitstamp.net as well with future integration for other exchanges being actively developed.

I think what you're meaning to ask is, who provides the BTC for the ATMS? They do not come preloaded and the owner/operator is expected to simply refill the BTC address when it gets low.

Quote from: smeagol on July 30, 2014, 11:03:23 AM

How much money does this ATM make, per transaction? And if it is owner-set, what is the average fee? Also, can you add an option for other cryptos? Finally, is it buy/sell or only a one-way thing?
I'm very interested, so I apologize for the stream of questions.

The ATM fee can be set by the owner and we suggest between 3-5% fee. It is possible to add other cryptocurrencies however they have not been tested and this is not necessarily an out the box feature (if I understand correctly, the current version of the software is hardcoded to BTC exchange apis for rates and the wallet itself). Please continue and ask away, I'm here to help!

smeagol

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How much money does this ATM make, per transaction? And if it is owner-set, what is the average fee? Also, can you add an option for other cryptos? Finally, is it buy/sell or only a one-way thing?
I'm very interested, so I apologize for the stream of questions.

Smack That Ace

legendary

Activity: 1974

Merit: 1108

Free Free Palestine

Hello,

I know this question might sound a bit noobish but who provides the liquidity on the exchange ?

Regards

Duke

frankenmint

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HoneybadgerOfMoney.com Weed4bitcoin.com

Quote from: elendir on July 23, 2014, 11:23:46 AM

What I'd like to know is how Skyhook protects operators from volatility. Other ATMs purchase bitcoin at exchanges (Bitstamp, Kraken, etc) for you at the moment your customer uses the ATM. Skyhook never mentions this feature. Neither I see it in their code.

As it stands, there is currently no rebuy script that I am aware of on the ATM. I do know that Jon and Luke had mentioned working on adding this ability with a specific exchange in the near future. I will keep my eyes|ears on the lookout for updated news and will post here.

elendir

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What I'd like to know is how Skyhook protects operators from volatility. Other ATMs purchase bitcoin at exchanges (Bitstamp, Kraken, etc) for you at the moment your customer uses the ATM. Skyhook never mentions this feature. Neither I see it in their code.

frankenmint

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HoneybadgerOfMoney.com Weed4bitcoin.com

Quote from: BayAreaCoins on June 16, 2014, 12:17:41 AM

Is there a 1% fee or any on going fees associated with these ATM's or is it pay n play?

Thanks

It is set based on the operator preferences - It can even be set to give a markdown (discount).

Quote from: Pistachio on June 15, 2014, 02:14:16 PM

Have these been road tested to see if they can detect counterfeit USD? Anyone buy one of these yet and get it running?

As far as I know 151 of these have been sold, I haven't yet had the pleasure to sell one directly. I have seen them in action and will be sure to get a different video up soon. In the meantime, here is one uploaded by Kurs Na Bitcoin!:

https://www.youtube.com/watch?v=bhsg1k8vWUk

BayAreaCoins

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Is there a 1% fee or any on going fees associated with these ATM's or is it pay n play?

Thanks

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