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Title: How works the bitcoin ATM? Post by: hashunter on May 19, 2013, 06:19:30 AM I'm asking me a lot of questions about the bitcoin ATM.
How can it manage the 10min verification, have you to wait 10min before you get your cash? :D Title: Re: How works the bitcoin ATM? Post by: empoweoqwj on May 19, 2013, 06:30:34 AM The one I saw just allowed u to deposit cash and get bitcoins, not receive cash. No need for the 10-minute wait :)
Title: Re: How works the bitcoin ATM? Post by: hashunter on May 19, 2013, 07:09:30 AM Hahahaha :D
WTF a ATM on which you can only depost money :o I've an other question, is there any alt-coin avaible with a split key system? Because split key is probably the best solution for ATM. The ATM company have a part of the key and your the other part on your phone. So the ATM company can not go away with your coins and you can not move coins without the ATM company knowing it, so double transactions are made impossible by the company and they don't have to wait the verification. Nice idea or is there a problem ? Title: Re: How works the bitcoin ATM? Post by: grue on May 19, 2013, 02:54:15 PM for getting bitcoins: you just have to trust the atm not to screw you over. alternately, the atm may use a hosted wallet with "green" addresses, which you have to trust as well.
for sending bitcoins: small amounts will need no confirmation, since it's not likely anyone will try to scam $10 worth of bitcoins. for large transactions, the customer will either have to wait for 1 confirmation, or use a green address from a hosted wallet. Title: Re: How works the bitcoin ATM? Post by: hashunter on May 19, 2013, 10:09:53 PM And what think you about a split key system?
Title: Re: How works the bitcoin ATM? Post by: Joerii on May 20, 2013, 10:12:37 AM An ATM that cashes OUT bitcoins, that would be WTFBBQ awesome.
I think it could be done without confirmations, for example of MtGox owns the machine ( *shudder* ) MtGox could just use your account ; the BTC in there is already confirmed. |