Bitcoin Forum

Bitcoin ATM Project is the original campaign to bring crypto-ATMs nationwide in the United States and to release a crypto-based debit card that can be used at these ATMs and supporting merchants.


Based on the amount of funding received during the ICO, the Project aims to initially distribute anywhere from 200 to 3,000 ATMs followed by expansion - with an end goal of placing at least one in every county across the United States.

Investors are paid back and earn money through revenue sharing - 1% of transaction volume for ATM and debit card usage is collected as a fee into an Asset Contract portfolio - dividends are paid quarterly to CryptoCoin (CCO) holders.

The Debit Card will first function as a rewards card for investors giving them 50% off ATM transaction fees, and the goal is to develop a fully decentralized payments platform operating outside traditional card networks.

The card will have many benefits - totally anonymous, cashback in CCO, discount on ATM fees, 2FA protection, multiple cryptocurrency support, instant confirmations, etc. The Genesis Coin ATMs being distributed are the industry lead today - they currently support Bitcoin, Lite Coin, and Dogecoin (with more being added during our initial design). We aim to have the lowest usage fees worldwide. Read our site for more information.  

The Pre-ICO starts on October 22. Buy 25 or more CCO and get a Debit Card, first customers get an Elite Card with double cashback and 100% discount on ATM fees.

Wow this is the greatest idea ever - we do this and crypto goes to a whole new level....i'm totally behind this website and company look great!

It looked very promising until i saw the BURN word. Why not distribute profits fairly without the need to burn your tokens?

Hasn't bitcoin ATM's already been done? What's new here?

Visa logo on whitepaper? Thought this is outside visa/mastercard?

Thank you everyone for catching the mistakes so quick the Whitepaper has been updated - yes it is outside visa/mastercard the reader images are example styles. The CryptoCoin debit card magnetic strip data (Track 1/Track2) will follow a similar format to that of traditional credit/debit cards making them readable by any conventional hardware - the Square style readers are able to used with any phone/tablet app programmed to read the data. This makes them the most convenient payment mechanism for now, they are cheap and easy for merchants to get and start using. The burn function has also been corrected (sorry this was from a prior upload version) - users do not have to destroy their CCO to redeem their share of the Asset Contract, dividends are distributed quarterly. Our Token Sale and Company are fully SEC compliant and can be verified on the EDGAR database once the ICO begins.

Bitcoin ATMs have already been invented yes - but there isn't enough of them to make their use convenient for most people - only 900 some in the United States compared to 425,000 traditional ATMs. About half of the US states don't have one at all. This along with a crypto-debit card, only two Bitcoin cards currently exist in the US (visa-based) - they can be expensive to use, you have to provide ID to get one, and you have to convert your crypto to fiat prior to use (exchange fees that shouldn't have to be paid).

Bitcoin and other crypto operate outside of conventional financial networks so why shouldn't there be payment cards that do the same?

the idea of having one in every county is pretty big ! the maintenance and survival of the machines themselves im sure would have a very limited lifespan and functionality.and trying to find a needle in a haystack would also be a pretty good analogy!

yeah i believe its going to be costly which sometimes may force the development team to quickly run out of funds and then edn up dumping the project, i would rather you reduced the scale even that is a good idea, of a machine in every county.

still an idea worth supporting they talk about their funding structure if the ICO doesn't raise enough to support 3,000 machines then they just won't release that many at first anyways.. heck for ~$25 to get a cool debit card to put in my wallet is worth it even if the platform never got developed. if there was machines everywhere they would basically advertise themselves n crypto would catch on big time i really think this is the next big thing

Do you all have at least one operable atm machine at the moment?

if this ico is to succeed as i feel it should, then aggressive promotions are needed, this is a cheap card for 25 dollars, i do believe that people will like it but surely only if they get to know it better.

We do have a traditional fiat ATM at our storefront location. We actually use Square readers too to accept credit card payments - as do two of our neighboring businesses, a small diner/pub and a used video game outlet. For smaller independently owned businesses where most transactions are likely paid with cash anyways, square or similar readers are the way to go - you get to avoid the high fees with monthly rental or purchasing of conventional card reader hardware, on top of being charged per-transaction fees. Have you ever seen a small business with a sign that said something like "credit card minimum purchase must be $5, or $10"? This is because of the fees otherwise the companies would be losing money on sales and eventually go out of business - and VISA/MasterCard merchant agreements prevent retailers from charging any kind of extra fee to customers paying by card instead of cash, even Paypal was the same way with eBay sellers back when users could pay for items won from auctions with personal checks or money orders. It might be surprising how many small businesses have opted to begin using these independent universal card readers for payments - and these would be the merchants already equipped to easily start taking crypto-payments. With Bitcoin ATMs nearby they could easily withdraw funds as cash each day or however often if they are worried about market fluctuations. We even considered offering a hedging service for an additional fee to protect merchants against price fluctuations like some online marketplaces have done before with Bitcoin - and we could implement this service if there was demand for it. Meanwhile to encourage merchants using our CryptoCoin card themselves, the 2.5% processing fee they are charged for accepting store payments is discounted from the Bitcoin ATM's 4.5% withdrawal fee when a merchant withdraws funds they received as CryptoCoin Card payments - this serves as an additional incentive for physical retailers to begin accept crypto through our platform.

We have already started the process of obtaining the proper licensure in the three nearest states to operate Bitcoin ATMs - Pennsylvania, West Virginia, and Ohio - currently West Virginia doesn't have any machines at all and Morgantown being a busy college town could be a prime location. We planned on using our own money to setup a machine there or in our own store location in Uniontown, PA (however it's a rural area not likely to generate as much traffic - yet). Indeed having a machine early would give us a jump on starting the process of gaining familiarity with the programming (adding support for additional currencies and integrating the CCO debit card) and white-label design (cover art & branding) but with the right team of developers hired this could all be done quickly and easily, and ready for mass production.

The market for Bitcoin ATMs has already been tested - they have been in existence for about 4 years and independent data shows that most locations are successful enough to maintain profit for small companies (most operators only have 1-3 machines) so at any larger scale things would be all the more successful because so many initial as well as ongoing costs can be shared between machines (legal fees, liquidity, customer service, etc.). Our team's background makes us familiar with business, finance, and crypto - we are educated and have 10+ years experience in owning & operating several local businesses successfully and most importantly we already own a property that would be an ideal location for the mass distribution of Bitcoin ATMs, development of the debit card platform, and a customer service center.

The original plan earlier this year for this idea was to use a crowdfund on a platform such as Kickstarter directed towards the Bitcoin community but with the high initial cost of purchasing even just 100 machines it would have been outside the scope of funding that most crowdfunds have ever been able to generate. With the recent popularity of ICOs these past several months showing the possibility of generating enough funding for this big of a project we decided to go that route and design a token relating to Bitcoin ATMs that has viability and is desirable to investors.

This allows us to be recognized publicly as a legitimate company, and so people know we were the first, while still allowing us the flexibility to take in more community feedback, answer questions, and make updates & clarifications as needed until everyone can see that this really is a goal worth pursuing and investing in. And yes it gives us time to promote the project as well. Thank you all for your input so far!

you guys are right having brick and mortar business experience is the most important thing for an idea like this. its refreshing to see a real ico where the money would actually be going towards something and the extra not just being put in the developers pockets.. the more money raised the more machines you guys can put out, and the more money investors will be making back through the dividends. its also nice to see an ico that wants to give back to the investors too. i think you guys definitely have the best approach towards using an ico to raise money to make bitcoin atms nationwide hopefully everyone else can see that too. you do need to advertise this aggressively tho like the other guy said so everyone knows you guys exist before anyone else comes along and takes the idea if they haven't already...great job so far!

Our new Bounty program has been launched!

https://bitcointalk.org/index.php?topic=2182396 (https://bitcointalk.org/index.php?topic=2182396)

this thread just created on 0ctober 1, 2017 and the bounty thread already made on 15 september, 2017
this is strange

New bounty program...because our website layout has had major changes since we first put out the initial idea asking for feedback and most of the translations had been of an older home page or ANN post. We had put the original Bounty program on hold while we were making design updates. Kept the old thread to give the original translators first chance to translate again if they wished - they all have already accepted.

New: We are looking for Project Promoters - people who believe in us and feel as strongly as we do about the benefits to everyone that having nationwide access to crypto-ATMs would bring and think that alongside a crypto-payments debit card we could bring about major change to today's world. If you want to help us reach more viewers (and investors) by keeping our social media, etc. active and spreading word over the internet - let us know!

If you have a legitimate online presence - you can apply to join the Team on our company page, or if you have relevant experience and believe in wanting to help our project succeed - you can join as a Project Advisor.

The ICO budget allots for hiring of future employees - help us succeed and you can stay on the team permanently as a contracted paid employee - future marketing is a need we will have as we distribute machines nationwide and are building interest and usage in the debit card platform.

If you are interested please post or PM on here, or fill out the form on our Jobs (http://www.bitcoinatmproject.com/jobs/) page.

We are now on Medium! (https://medium.com/@bitcoinatmproject/the-future-of-cryptocurrency-is-here-8fc5f26dc8cf)

Want to see Bitcoin and crypto prices keep rising? Then get behind these guys so they can make it go totally mainstream..Bitcoin ATMs everywhere and all the public using them is gonna be what makes BTC hit $100k   I can't wait for a cryptoATM in my neighborhood!

Rated 4.3/5 on ICObench!  https://icobench.com/ico/bitcoin-atm-project (https://icobench.com/ico/bitcoin-atm-project)

How do you guys think things could change if there was a Bitcoin ATM in every neighborhood?

I think you guys have a really great idea ...Bitcoin ATMs are a thing we really need more of. People who are survivalists living off the grid etc and don't want to use bank accounts can use these to keep their money, send it to others and so on. Same thing with people who have bad credit and can't get a bank account. Makes giving crypto as a gift easy too - give Bitcoin to your kids and they can check the price every day , teach them about things like that and the stock market. Better than giving your kids a savings account which takes forever to grow...heck with the rate crypto has grown give ur kids $10 a month in crypto and they'll be millionaires by the time they turn 18! BTW it says your icobench rating is 4.5 now congrats! I really like the revenue sharing idea too...if you do the math investors would get paid back quickly too...

This is a good start, let BTC from the Internet went to the net, which is ordinary people can accept. This is a sense of ico, wish your best.

do like how the cryptocard is crypto-both ways. any other bitcoin/crypto debit card that's tried to do this has been pay with VISA or whatever and therefore had to be bound by their rules and regulations - in the USA especially a license with VISA/MasterCard for a crypto debit card is nearly impossible to get, thats why there has only ever been maybe 1 bitcoin debit in America. and these bitcoin debit cards are basically no different than a regular prepaid visa except they let you use crypto as a funding method to fill the balance on your card in USD, EUR, etc. either some amount in advance, or the card converts an exact amount at the point-of-sale for each purchase. and of course they charge a big fee for this exchange. having a debit card that is bitcoin both ways lets it operate completely outside of normal card processors networks like you guys said, that is such a great idea!!!! the only problem is compatibility with store and merchant's card readers - and you guys solved that by saying you develop software to be used with those square readers or the like. square readers are those little card readers that plug into smartphones or tablets and scan the magnetic strip and those would work with any software (card strip data is just a couple lines of text). maybe u guys could explain the technical aspect of that process more to show how the cryptocard would be compatible with any existing card readers, just need to use ur payment software for it to work. integrating the card into the bitcoin atms that have card readers for validating IDs is a great multipurpose function!!! its like you guys came up with the two best ideas ever - the two biggest things that would make crypto go mainstream and to a whole new level - bitcoin atms all over, and a 2way crypto debit card - bridging the gap is such a good way to put it! you have my 2 bitcoins ;)

It is very interesting project. I gonna follow your project, you have my .5 bitcoin, devs. Thanks you for the promising project. Now, I am investing in a new approach for depositing/ withdrawing money. It might be a milestone for our human society. Good luck, and please keep up your good work, devs.

Youtube review: https://www.youtube.com/watch?v=7a9XY2_fdZo

do you have link to the team behind this project?

Yes - https://www.bitcoinatmproject.com/project/

Some of the highest populated areas in the USA that appear to not have any Bitcoin ATMs nearby:

El Paso, Texas
Albuquerque, New Mexico
Tucson, Arizona
Fresno, California
Colorado Springs, Colorado
Minneapolis, Minnesota
Tulsa, Oklahoma

The following states appear to not have any Bitcoin ATMs at all:

Alabama, Arkansas, Connecticut, Mississippi, Montana, New Mexico, North Dakota, Rhode Island, South Carolina, South Dakota, Vermont, West Virginia, and Wyoming.

Idaho, Oklahoma, and Maine appear to only have 1 each in the entire state; and Kentucky, Nebraska, and Utah appear to only have 2 each.

We are going to change this!! Do you live in any of these areas and want to see a cryptoATM near you?

Its really good news. The project has strong potential to change the world. of course, the better one for everyone. Please keep up your good work in order to bring Bitcoin to more people.

You would spend $25 just so that you can have a "cool debit card to put in [your] wallet"?  That's a ridiculous statement but I guess there are many fools out there who want to throw their money towards "platform [that] never [get] developed"

I think that was obviously just a joke. Why not pay 20-25$ to get a Bitcoin card with some neat design? People pay more money than that for things with less novelty factor.. I don't see why the platform wouldn't get developed either, payment software isn't that hard to code, at least it wouldn't be that expensive to outsource or hire developers. The project has a neat idea with their workaround to having a Debit Card that works like a normal card, but it's really just more kind of like a paper wallet/private key or carrying a QR code around with you to use at merchants or an ATM. They want it to operate outside VISA - because VISA contract is hard or impossible to get in the US for crypto cards - so for a merchant to be able to accept it they need special hardware - in this case it can be any type of Square reader using software they develop. It really is a cool idea and could catch on big-time, just like the ATMs. It seems like releasing the ATMs are their main goal anyways, the Card is a perk for investors because at the very least it gives them a discount on the ATM fees - and if an investor gets in early enough to get one of the Elite cards they get to use the machines for free! That is totally awesome!

Merchants have good incentive to start taking crypto now too - because its easy all they have to do is get a Square reader and download an app...don't need to have a special computer setup , train employees on crypto , etc. Plus their software will be designed so no one has to wait on Confirmations - another reason why merchants don't want to use crypto payments today ..who wants to sit around waiting 6 hours to leave with their pizza? All around a totally useful product, why hasn't anyone thought of this before???? This Debit Card could actually have been a whole ICO all by itself

Filipino and Russian translations completed!

Pre-ICO starting soon - are you ready?

ideal ATM locations could be on college campuses I am actually a student near you guys at WVU in Morgantown, west virignia...WV def doesnt have any Bitcoin ATMs nearby AT ALL, believe me I have looked!! college towns are full of young tech savvy people who would love to easily buy and sell bitcoins all the nearby merchants would happily start taking your cryptocard too I see some of your team members are alumni at WVU I  bet they could get u in there for one of ur first machines put it on campus somewhere like right in the Mountainlair (student union)! I only have .5 ether right now but I'm getting in on ur guys pre-sale the revenue share idea is great - investors make their money back quick, and u get to earn a variety of crypto alongside watching the value of ur cryptocoins go up its a win win !

We should get a poll going here....where would you guys like to see a Bitcoin ATM in the US? Where do you live now and are there any ATMS nearby? If there are machines, what are their fees (online it shows a lot of machines have fees anywhere from 10 to 25 percent I like how you guys are being competitive with that.. ) this is why an ICO is perfect for this, bc you can raise enough funds to buy and license 200 or more machines, and put them all out right away without having to worry about profit margins and recovering initial costs right awy. and investors start getting paid from the beginning too - this project is reallt exciting great job dev! best of luck!

Pre-Sale has launched!

https://www.bitcoinatmproject.com/tokensale/   Pricing and Sale information
https://www.bitcoinatmproject.com/buy/  CryptoCoin Buy Page

We are accepting Ether, Bitcoin, Lite Coin, Dogecoin, Ripple, and Bitcoin Cash; as well as credit/debit card and ACH bank transfer.

This is great idea and difficult to achieve but will be wonderful addition to the Crypto world

Yes but if anyone can do it I truly believe these people can, it's a solid team and most importantly they already own the building and property they are going to use for the project. really anybody could run a Bitcoin ATM company if the money was there, its just buying the machines, and finding good places to put them: and most of the good places are already mapped out, start with the big cities that don't have any, or like someone said the college towns/campuses with a younger audience. The ATMs would basically promote themselves, and would get listed on the ATM locator websites. Next they could go to the bigger cities where machines already are because they have a really good fee, less than half of what most other machines charge and they would be able to afford this because of having so many machines. Its really not that hard, and the software development they want to add could be an ongoing project and anything the team cant do themselves they just outsource or hire employees for, again they have a big property capable of handling all that, and the only experience needed to do that is what they have from running local businesses: employee management. They've been super transparent with their identities and locations too so theres zero risk of It being a scam, plus the website is really well done and shows the seriousness and professionalism behind the products. I think once more people find out about this is will really take off I mean whats not to like about it? Bitcoin ATMs would help everyone and more people using bitcoin will make sure the price keeps going up and up which should interest everyone bitcoin holder out there today: if every bitcoin holder pitched in just $10 or $20 this project would be funded in an instant. The debit card idea is really cool too even just for the fact that it rewards investors who want to use the atm's with fee discounts I wouldn't be surprised if one person came along and made a hundred small purchases just to buy up lots of cards and sell them on ebay or something later lol ;) the profit sharing is cool too there is a lot of unique ideas with this ICO and I think it deserves to become one of the famous newsworthy ones that everyone talks about because if they succeed itll be all over the news too - community funded startup company launches hundreds of bitcoin atms all over the united states? that would be all over the national news theyd be getting calls for interviews and everything. lets help these guys get the word out so it can be the major success it deserves to be!

this real good program devs keep up good work and you find success in today competive financial marketplace don't worry investors will find you

What I understood from the debit card offered by this project it has nothing to do with Visa/Master services. You will need to take many merchants on the board by forming partnerships with them to be able to use these cryptocurrencies loaded cards. You also want to establish chain of atms inside of United states but people living outside who will they use these cards without any trouble ?

Nice youtube! This is a working concept.  :)

Thanks for the support! Pre-sale underway - there are still Elite cards left for the first purchasers buying 25 or more CCO (only 0.0625 ETH). The Bitcoin ATMs and Debit Cards may be mainly for users in the United States (at the beginning at least) - but investors worldwide can be part of the revenue sharing and the success of the Company - for investing in any amount.

Yes this is great idea it better than other ico and crowdfund I see this as longterm stable investment Cryptocoin will be more than pump and dump (yes the value may skyrocket but it will stay up) it almost like investors are lending their money to company to get started and get paid back quickly with dividend lasting forever..you get paid quarterly in bitcoin and other crypto and can do whatever you want with that while still holding on to your cryptocoins. I could see value of cryptocoin going really high because everyone will want them especially once company starts putting out ATMs and investors see how much they are getting paid back this is such great project

I have invested this project looks hopeful anyone reading this should invest too lets get this project moving! the more machines they get out there faster the more we all get paid back forever!

merchants will want to start using the card once the platform is developed because accepting crypto will draw in more customers especially once bitcoin atms are all over and everyone is using bitcoin. but the card isn't needed for the project to be a success even if it was only the investor perk of getting ATM fee discount that would be fine. the big profit is in the bitcoin atm business. i am investing in this one too i like the revenue share idea ...you can look online a lot of machines make 100,000 or more a month volume and 1% of that would be $1000 a machine into the share portfolio so 200 machines would be $200,000 a month. thats their minimum goal at 10,000 eth say they sold all that in the presale thats 4 mil CCO. if i spend 10 eth then i own 0.1% of the total CCO with a ~$3,000 investment. so i get back $200 a month at that rate, $600 each quarter and $2400 in a year. so in 15 months ive made my investment back, not bad. and as they expand the ROI increases. if they put out 200 machines by say the first 6 months they'll be able to put out at least 100 more by the end of the first year. i like how they aren't depending on the debit card for success because like any digital ICO product still to be created, the market is essentially unknown. i do believe it would catch on though and the fees for that would just increase my ROI. the ATMs are a working product, and everything online says they are successful. theres articles about machines opening in prime new locations making over a million $ volume in their first month and this company wants to hit all those good new locations first.

Thanks we are hoping for CryptoCoins to be a long term stable investment as well as our company expands until everyone in the United States has nearby access to a cryptoATM with a competitive fee! The revenue sharing model makes this project unique among others and allows participants worldwide to benefit in the success of a United States company. Plus you get paid out of whatever crypto was used for the transactions (may be mostly Bitcoin at first until other altcoins gain popularity at the ATMs) - and you'll be able to build a diverse portfolio of the most popular cryptocurrencies of the current time, simply by holding on to your CryptoCoins!

Someone mentioned placing machines in college campuses - we have alumni on our team from WVU in Morgantown, WV. as well as Cal U in California, PA (southwest PA) - and have already been in contact with the universities and they have both approved us in placing Bitcoin ATMs on campus if we wish, rent-free. The younger college town audience would be one of the ideal demographics to encourage into investing in Bitcoin and other crypto.

sound good project i need more information this project , reality .

The idea of the project is very good. Nationwide crypto ATM´s can bring crypto to a whole new level of usage and a bigger userbase will join for sure. But it will be very difficult to realise i think. I need a lot of more informations. Is there a whitepaper coming?

https://www.coinspeaker.com/2017/10/24/bitcoin-atm-project-token-pre-sale-now-open/

Great article it explains things well, and yes there is a whitepaper (http://www.bitcoinatmproject.com/s/whitepaper.pdf)

187 Elite cards claimed so far, out of the first 500 purchases of 25 CCO or more. Most purchases have been made by credit card so far. Also to maintain SEC compliance and be able to sell to anyone (not just accredited investors like before) we have lowered our soft and hard caps, and the pricing rate is now in USD - during the Pre-Sale CryptoCoins are $0.75 each. Thanks for all the support!

So, your coinspeaker article mentioned ATM makes $100k revenue. If the fee is 1% to purchase, your net is $1k per machine per month? What about your other expenses of operating ATM, payroll, fixed costs, etc? It wasn't clear if you are profitable and whether you are in a positive cash flow each month. When you expand your operations, how will your expenses rise and will the ratio remain the same or will you have higher expense to revenue ratio?

The ATM transaction fees are projected to be 3.5% to buy and 4.5% to sell, with 1% out of this being given to investors. (So the company would get 2.5% for buys and 3.5% for sales). If an ATM makes $100,000 in a month, the investors would get $1000 and we would get ~$3000. Average monthly costs can range from $500 to $1500 per machine, depending on location (rent, cash collection/distribution, maintenance, insurance, staff, etc). The ICO budget allows for purchase of machines plus covering the initial/on-going costs until each machine has made enough revenue to be turning a profit each month (estimating this would take 6-12 months max).

The cheapest 2-way Genesis model is $8900 to purchase, and we figured the average startup costs to be an additional $2000 to $5000 per machine, depending on location. Different states and jurisdictions vary widely in their fees for licensing, compliance policies, required insurance bond amounts, etc. Some areas have regional services for cash management and machine maintenance/repair, such as armored car companies like Brinks doing the cash collection from various bank's fiat ATM machines in a particular area, or Diebold having repair technicians that service ATMs for various banks in an area. If these services are not available, we would have to commission employees for those areas, again affecting average costs.

To be conservative and say the startup cost for a machine is $14,000 - and a machine only made $75,000 monthly revenue (split between buys and sells - current 2way machine averages show that less customers sell, but the sale transactions are larger, so it comes out about even). With these figures each machine would produce $750 for investors and $2250 for us. Say out of that we only made $750 profit after monthly costs - then we are making about the same as investors, which is fair. Our soft cap is $1million, and if we made this all at the pre-ico rate ($0.75 a token) that would be ~1.3 million tokens. At this cap, if 85% went towards machine purchase and initial costs (as stated in our current budget) - we could initially purchase 61 machines. The remaining 15% funding is for hiring initial employees (need to build a large team for nationwide operation - programming and other initial design, customer service department, delivery and maintenance staff, etc), as well as pay for any needed on-going ATM operating costs until the machines are turning a profit on their own.  

These machines could all be installed in the first month and begin operating (there is no wait time because yes we are going to add additional currency support and integrate the debit card platform, but the machines could begin operating as-is and we update them later - allowing investors to receive a return at the first quarter after the ICO ends). The Genesis models already support buy/sell of Bitcoin, Lite Coin, and Dogecoin.

61 machines at the above stated conservative rates would net $549,000 yearly, and $549,000 for us. At this rate, and if we didn't expand, it would take less than 2 years for investors to be paid back. However, without having to worry about recovering any costs before expanding, after the first month of operation we could begin buying additional machines, with close to zero wait time because all the programming and design work would be done - only work needed would be akin to installing a software update and applying a decal/painting for the cover art on the machine casing.

As we do expand, total on-going expenses would rise (because there are more machines), but since most costs are shared among machines, the per machine average expense would go down - and the profit ratio would go up. Initial expenses would go down too, once licenses and insurance bonds etc. are already paid, for machines in a particular state.

Using these figures, after the first month we could purchase 3 machines, and adding these new machines' profits in (say we release new machines once a month) by the end of the first year we would be able to add 6 machines a month. Because of the ICO funding we can put all profits towards expansion, which is great! Calculating monthly expansion in - investors would see a $745,000 return by the end of the first year. So in a little over a year their investment would be returned. If you figure future gains in with continual expansion, the numbers become tremendous. If 1,000 machines were in operation, it would be $9 million a year (still using these conservative figures). We will add more of this information to the website (with graphs and charts) so it's easier for investors to understand. But you're investing in crypto (so CryptoCoins will have a value themselves that is going up over time) and getting paid a return in crypto (which has value that will go up if you hang on to it) - so all you have to do is buy some CryptoCoins now, and hang on to them and you'll be getting paid in Bitcoin, Ether, and the other currencies offered at the machines and on the debit card. And the returns from CryptoCoins go on forever, even if the market value crashes, CryptoCoins will still be making money - people will still be using the Bitcoin ATMs even if it's to sell off all their coins because of a crash! This really truly is a profitable idea for both investors and the company (one of the best ICO investment opportunities out there today). If anyone else has any questions please let us know!

Note those numbers are conservative and the actual estimates could be much, much higher. Especially because we are opening machine locations in new areas furthest away from any existing ATMs - and those generally have very high transaction volume at least in the first few months (sometimes $1million or more per machine). As we are hitting new locations we will also go to the highest populated areas that currently have machines, where we can take over the market by having the lowest fees. Many of the major cities the lowest fee on any machine is over 10%! Having lower fees -anywhere- would also generate much higher transaction volume on our machines. This is all very good for potential investors!

Thanks for more details about the business plan.

White paper is not great in detail.

I don't know how you can predict crypto coin value nor profit from ATM.

I will invest in this project more I found details to not be great.

You have uptoken icon which frankly has more details about their business plan.

How do you plan to compete with their distribution plan of ATM machine?

In the start-up period, I don't think an such an ATM will make $100,000 a month. Probably $7,500 will be a more realistic figure.

https://gigaom.com/2013/11/07/first-bitcoin-atm-gets-348-transactions-in-first-8-days-now-comes-the-hard-part/
http://www.newsbtc.com/2014/02/09/bitaccess-bitcoin-atms-10k-transactions-daily/
http://www.prweb.com/releases/2014/11/prweb12342558.htm
https://www.atmmarketplace.com/articles/bitcoin-and-cash-like-peanut-butter-and-jelly/

Coinme reports that their ATM's average $100,000 monthly. The statistics are out there online that existing ATMs are generally successful, especially in the first few months at new locations furthest away from any current machines. We took these figures based on average operator reports from existing machines across various websites. The estimates we gave in the above post were using less than $100k monthly, only based on $75k, and overestimating costs to be conservative. (Also this was $100k transaction volume not profit to clarify). Realistically, even at the lowest reported average online of $30k monthly transaction volume, our fee rates would still be profitable (we took this all into account when structuring the concept). Uptoken has no set distribution plan - and they are on the west coast, we are on the east coast so we both would have good starting points. Competition in this market is good anyways because there is no large nationwide provider at all (the biggest single company in the United States is Coinsource and they have around 120 machines) - any company could easily expand the difficulty is in funding the high cost of initial machine purchases, hence the need for an ICO.

Oklahoma is set to receive its first ever Bitcoin ATM as Coinsource installs its 121st machine in the capital Oklahoma City.

The Sooner State, which ranks among the bottom areas of the US in terms of median household income, will benefit residents struggling with extant forms of financial support, the company said in a press release.

Although the only machine available for the time being, the BTM will provide an “alternative form of value and way to pay for goods and services,” the release explains, “particularly for those that have difficulty gaining support from a bank or financial institution.”

“Coinsource will always find ways to service the underbanked and unbanked; it's a major part of our business culture, our beliefs, and why we started the company in the first place,” CEO Sheffield Clark said continuing the sentiment.

“It gives us a deep sense of personal pride knowing we can provide a valuable service to people in the lower income bracket, and let them invest in an industry on the rise.”

The move came about in response to “repeated resident requests.”

https://cointelegraph.com/news/oklahoma-gets-first-bitcoin-atm-as-coinsource-targets-underbanked

really great idea, i agree with this project. if there's mani atm bitcoin so we easier to cash out our bitcoin anywhere, i hope it's launch immediately.

Bitcoin ATMs and hubs have been shut down due to govt restrictions in the past, what makes you so confident? Have the regulations changed?

wow i think this is goodproject keep it up, but It looked very promising until i saw the BURN word

I am doing the Bounty program found ALSO a homeless person with lots of time to do THE bitcoin atm project also
Social Media:
Facebook - Like our page = 3 CCO
                  Share our page = 1 CCO (Can be done once per day)
                  Like any of our posts = 1 CCO
                  Share any of our posts = 1 CCO (Can be done once per day)

Make a post on your own Facebook mentioning, describing and/or promoting our website = 5 CCO (Can be done once per day)

Twitter - Follow us on Twitter = 3 CCO
              Retweet any of our posts = 1 CCO (Can be done once per day)

Mention our website in a tweet, describe and/or promote us = 5 CCO (Can be done once per day)
         
Instagram - Follow us on Instagram = 3 CCO

Medium - Follow us on Medium = 3 CCO
                 Clap for an article we wrote on Medium = 2 CCO

Steemit - Follow us on Steemit = 3 CCO

ICO is currently running - stage 2 of the pre-sale is open until November 11, and the ICO runs until December 10, 2017.

In the United States Bitcoin ATMs are allowed as long as they are capable of AML/KYC verification and other means of compliance depending on the jurisdiction (early machines were not all able to do this). There are about 1,000 ATMs in operation in the US today out of a little over 1600 worldwide.

We are now on reddit - https://www.reddit.com/r/bitcoinatmproject/
Subscribe if you wish, and there are links on there for 4 articles about us so far. Thanks for the support!

Love the idea guys, will help push crypto mainstream.

Finished your daily Facebook bounties and thread posting, let's keep spreading the word.

https://www.facebook.com/ReverendHall

I JOINED REDDIT also am posting her for the double the bounty for completed for 11/4 2017

 

Social Media:
Facebook - Like our page = 3 CCO
                  Share our page = 1 CCO (Can be done once per day)
                  Like any of our posts = 1 CCO
                  Share any of our posts = 1 CCO (Can be done once per day)

Make a post on your own Facebook mentioning, describing and/or promoting our website = 5 CCO (Can be done once per day)

Twitter - Follow us on Twitter = 3 CCO
              Retweet any of our posts = 1 CCO (Can be done once per day)

Mention our website in a tweet, describe and/or promote us = 5 CCO (Can be done once per day)
         
Instagram - Follow us on Instagram = 3 CCO

Medium - Follow us on Medium = 3 CCO
                 Clap for an article we wrote on Medium = 2 CCO

Need Chinese translation

I am posting here about the BOUNTY PROGRAM HAVE SOME PROBLEM WITH LOGGING DIRECTLY ONTO YOUR WEB SIGHT PROTOCOL ERROR

FOR 11/5/17 POSTED HERE FOR DOUBLE POINTSSocial Media:
Facebook - Like our page = 3 CCO
                  Share our page = 1 CCO (Can be done once per day)
                  Like any of our posts = 1 CCO
                  Share any of our posts = 1 CCO (Can be done once per day)

Make a post on your own Facebook mentioning, describing and/or promoting our website = 5 CCO (Can be done once per day)

Twitter - Follow us on Twitter = 3 CCO
              Retweet any of our posts = 1 CCO (Can be done once per day)

Mention our website in a tweet, describe and/or promote us = 5 CCO (Can be done once per day)
         
Instagram - Follow us on Instagram = 3 CCO

Medium - Follow us on Medium = 3 CCO
                 Clap for an article we wrote on Medium = 2 CCO

If they can pull this off ... just wow!
I have been trying to get into Bitcoin any way I can and the infrastructure is just not there yet. I have to jump through hoops just to purchase Bitcoin.
That's where Bitcoin ATM Project comes into play. Make it easy to obtain and spend Bitcoin.
Millennials are more comfortable with cryptocurrency so it is growing with every passing day.
I am so excited to get in on this project early and ride  the wave to success.

Where to buy tokens?

www.bitcoinatmproject.com/buy/

I'm doing the bounty on Facebook, Twitter, Instagram, Medium, and Steemit.
Pretty easy to do so you should try it too. Even easier when you actually believe in the project as I do.

Looks amazing. The project might create a breaking solution for banking system, particulary for ATM services. Thanks devs for your excellent ideas behind the project.

The extra funds that will soon be in  pockets that are NO LONGER PAYING for EXCHANGE FEES THANKS to the soon to up and running COBINHOOD
Is going to make using this debit card VERY valuable as we will be able to use  bitcoin in all stores  as Japan has done.
Cobinhood has started to under write others and issue there coins as rewards for joining that new ICO a very neat way of haVing the huge momentum that Cobinhood IS SOON TO CAUSE us all to be awaken too.
 AS WE ALL REALIZE UP AND DOWN PRICEs WITH NO FEES MEANS PROFITS BY THE MINUTE TO MEGA AMP UP THESE ICO"S WITH

Now  FINDING AWAY TO USE THAT DEBIT CARD TO UTILIZE THIS ABILITY COULD MAKE THESE DAY TRADERS ADD UP THE MOST AMAZING 1% BONUS A TRUE WIN WIN WOULD BE WORTH FIGURING OUT.

FOR EXAMPLE That 1% could be paid back to the trader as CCO CREDIT TO KEEP THE EXCHANGE FREE

 JUST A 1% PURCHASE OF CCO IS REQUIRED WITH EACH TRADE USING THE DEBIT CARD.

 SO THIS AMAZING BUILD UP OF OWNED CCO PILES UP THAT PAYS OFF POSSIBLY EVEN HIGHER THEN THE TRADE EVER DID. ha .

this is the greatest idea ever

How do we get updates on the project? What are the tasks currently being worked on and their progress?

You mentioned installing ATMs in the East Coast. Is CoinSource a competitor? Does this change your road map at all?

https://cointelegraph.com/news/coinsource-installs-20-new-bitcoin-atms-in-georgia

Which currency will be accepted during the ICO?

Does anyone know the outcome of the ICO which ended 10 December. Bitcoin ATM Project is not telling their investors anything. I have emailed them numerous times with no response from them. Perhaps someone knows something that I dont know OR perhaps this is SCAM. Forgive me if I am wrong, but it is only natural to assume the worst when you are not given any information. I do believe as investors we have a right to know the outcome of the ICO.

Same. Lack of communication is worrisome. I was worried earlier to because their their token allocation was not done automatically like other Eth smart contacts. Makes me worried how profit sharing will work and whether it will be accurate at all?

Its frustrating that there is no communication. I have also contacted Medium if they know anything. So far no response. For me its a learning curve as I am new to crypto. No one likes to loose out on their capital investment (hard earned money) but with the lack of communication I can only assume the worst.

I think we got fucked guys.

https://www.bitcoinatmproject.com/tokensale/

the website expired.

ICO scam.

So, how do we report this scam. Who will actually investigate this? The SEC? FBI? I saw they took all the ETH out to ShapeShift like all the other scammers do.