How else can bitcoin be distributed? (Through a kiosk / machine). I was thinking the private key distribution made sense.
You could have the BTC sent to a wallet but you'd need to tell the machine your wallet address.
If you are suggesting that the owner of the machine (me) would scam because owner of the machine (me) knows the private key I think it's unlikely given the enormous expense of the machine and installation. If it cost me $20k to put the machine in a location and I scammed the first user and they reported that here in the forum I would never recover my investment, so I think it's unlikely the machine operator would steal. Right?
Topic: Would you invest in a bitcoin startup who places ATM BTC machines in US cities? - page 3. (Read 5173 times)
September 02, 2013, 05:01:50 PM
September 02, 2013, 04:49:28 PM
No.
Scams involving third-party secure private (but deleted right away, promise!) key generation are getting old, now.
https://bitcointalksearch.org/topic/theft-from-paper-wallet-flhippy-notes-compromised-278220
This is one of the latest examples. I'm afraid this kind of business has no future.
Bitcoins are supposed to go to one peer to another.
No trusties in the middle.
Scams involving third-party secure private (but deleted right away, promise!) key generation are getting old, now.
https://bitcointalksearch.org/topic/theft-from-paper-wallet-flhippy-notes-compromised-278220
This is one of the latest examples. I'm afraid this kind of business has no future.
Bitcoins are supposed to go to one peer to another.
No trusties in the middle.
September 02, 2013, 04:09:18 PM
notes:
-Need competent council to determine what laws apply and how to avoid breaking them.
-Need competent council to determine what laws apply and how to avoid breaking them.
September 02, 2013, 03:50:52 PM
I have registered with a couple of the bitcoin lending sites and am waiting for my validation to complete. In there interim I was wondering if anyone here might want to talk bitcoin startup. (edit: This is not a request for a loan, just a discussion)
I put up a poll in the newbie section:
Would you use an ATM machine to buy Bitcoins?
Yes - 26 (83.9%)
No - 0 (0%)
Maybe - 5 (16.1%)
Total Voters: 31
https://bitcointalksearch.org/topic/would-you-use-an-atm-machine-to-buy-bitcoins-286114
My business partner has been programming ATM machines for years. We are highly confident we can use a state of the art "money recycling" ATM machine to sell bitcoins directly to the public. We are both in Colorado and so, naturally, we'd like to place the ATM machine in Denver. Denver is the state capital and largest city in Colorado. The state is home to 5 million people and more than 57 million visitors throughout the year.
We have permission from a busy retail chain store owner to place ATM machines on his properties.
We have the skills to manage the project.
What we are seeking is a 6-12 month loan to purchase a few ATM machines and test the concept. The ATM machines, which hold their value well, become the collateral for the loan.
We would purchase a "SelfServ" model with a "cash recycler" from this product line: http://www.ncr.com/products/banking/atm-machine
We will be seeking 150 BTC to start and will pay a fixed interest rate each month until the loan is paid in full.
September 2, 2013:
At the moment this is not an offer to enter a loan agreement but an exploration of interest in the idea. We are not seeking lenders right now but we would like to start conversations with anyone who might be interested or have questions.
I put up a poll in the newbie section:
Would you use an ATM machine to buy Bitcoins?
Yes - 26 (83.9%)
No - 0 (0%)
Maybe - 5 (16.1%)
Total Voters: 31
https://bitcointalksearch.org/topic/would-you-use-an-atm-machine-to-buy-bitcoins-286114
My business partner has been programming ATM machines for years. We are highly confident we can use a state of the art "money recycling" ATM machine to sell bitcoins directly to the public. We are both in Colorado and so, naturally, we'd like to place the ATM machine in Denver. Denver is the state capital and largest city in Colorado. The state is home to 5 million people and more than 57 million visitors throughout the year.
We have permission from a busy retail chain store owner to place ATM machines on his properties.
We have the skills to manage the project.
What we are seeking is a 6-12 month loan to purchase a few ATM machines and test the concept. The ATM machines, which hold their value well, become the collateral for the loan.
We would purchase a "SelfServ" model with a "cash recycler" from this product line: http://www.ncr.com/products/banking/atm-machine
We will be seeking 150 BTC to start and will pay a fixed interest rate each month until the loan is paid in full.
September 2, 2013:
At the moment this is not an offer to enter a loan agreement but an exploration of interest in the idea. We are not seeking lenders right now but we would like to start conversations with anyone who might be interested or have questions.
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