Title: Picasso anyone? The Chinese have done it again!!! Post by: S4VV4S on April 15, 2014, 07:45:43 AM http://www.coindesk.com/btc-china-launches-first-soft-bitcoin-atm-interface-international-markets/
A Software Bitcoin ATM!!!!! Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: southerngentuk on April 15, 2014, 07:54:28 AM Am struggling to get this.
So you meet someone and they want to buy a coin They give you the cash you send it from your account to there's they get there coin. Why would I not just transfer them a coin with my phone app ? ??? Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: S4VV4S on April 15, 2014, 08:00:58 AM Am struggling to get this. So you meet someone and they want to buy a coin They give you the cash you send it from your account to there's they get there coin. Why would I not just transfer them a coin with my phone app ? ??? Quote “Now store owners, coffee shop owners, or even convenience store owners, instead of investing in a bitcoin ATM, they can just sell bitcoins at the cash register with the Picasso ATM.” Since transactions take place within BTC China’s system there are no QR codes to scan, transfers are instant and there’s no waiting around for six confirmations to make sure everything was legitimate. Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: southerngentuk on April 15, 2014, 08:11:25 AM Am struggling to get this. So you meet someone and they want to buy a coin They give you the cash you send it from your account to there's they get there coin. Why would I not just transfer them a coin with my phone app ? ??? Quote “Now store owners, coffee shop owners, or even convenience store owners, instead of investing in a bitcoin ATM, they can just sell bitcoins at the cash register with the Picasso ATM.” Since transactions take place within BTC China’s system there are no QR codes to scan, transfers are instant and there’s no waiting around for six confirmations to make sure everything was legitimate. Now if they reverse that statement I could see the benfits. Withdraw cash from your BTC @ the coffee shop that would do it for me ;) Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: RawDog on April 15, 2014, 08:15:46 AM Quote “Now store owners, coffee shop owners, or even convenience store owners, instead of investing in a bitcoin ATM, they can just sell bitcoins at the cash register with the Picasso ATM.” Since transactions take place within BTC China’s system there are no QR codes to scan, transfers are instant and there’s no waiting around for six confirmations to make sure everything was legitimate. No one really waits around for 6 confirmations. When I send a few BTC to someone, the instant it hits their phone (like in about half of one second) to me that transaction is done. Of course - it is possible it could fail. But highly unlikely. For transactions more than $20,000 I'll wait for one confirmation. I too can't see what Picasso offers - except that BTCChina gets into the middle of a transaction I can otherwise perform myself. On the other hand, there is nothing I'd like to see more than 17,000,000 highly mobile ATMs running around China providing great bitcoin liquidity. In this regard, Picasso is brilliant. Millions of ATMs - instantly. That part you've got to love. Instead of Bobby Lee taking in the cash at the exchange, let an army of individuals take it in for you. Then, they can kick the bitcoin around to their friends and customers. That's a cool set up. Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: southerngentuk on April 15, 2014, 08:24:14 AM Yeh, you have a good point there ;D
I was kind of looking from my own perspective. I don't ever walk the high street and think "oh must get some more bitcoin" but I would run out of cash and draw $100 bucks out of my BTC if I was short. So there effectively taking the exchange to the high Street. In there speculative culture this may just work. Am not sure I would call it an ATM thou Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: b!z on April 15, 2014, 08:25:43 AM So... PayPal: Bitcoin edition?
You guys bitch about sites like inputs.io and Ripple, yet here, this is supposed to be good? Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: DubFX on April 15, 2014, 08:56:55 AM These are the news i've been loking for....so from now on there's no problem of using bitcoin realtime in real stone shops no?
Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: southerngentuk on April 15, 2014, 09:03:42 AM If they can succeed in getting all those small outlets acting as a front for there exchange then its just 1 step away from them accepting Bitcoin properly for goods and services.
There is some Irony here, China clamps down on BTC and the result increases its adoption. Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: DubFX on April 15, 2014, 09:06:27 AM If they can succeed in getting all those small outlets acting as a front for there exchange then its just 1 step away from them accepting Bitcoin properly for goods and services. No, stupid people spreading FUD clamped it down. And now on the 15th everybody is monitoring china news and prices so it's good marketing move, now everybody will see these news=price rises!There is some Irony here, China clamps down on BTC and the result increases its adoption. Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: LiteCoinGuy on April 15, 2014, 11:14:41 AM maybe we will see a tutorial video soon for this.
Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: S4VV4S on April 15, 2014, 11:17:35 AM Official: https://vip.btcchina.com/page/notice20140415
Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: RockHound on April 15, 2014, 01:39:00 PM maybe we will see a tutorial video soon for this. I hope so too, because I am failing to see how this is any different to LocalBitcoins. Don't get me wrong, I think it's a resourceful strategy to get Ƀ's in and out of BTCChina's platform a step in the right direction, but they still have a major issue with the fiat side. I am a pro trader on Localbitcoins since early this year, all Sellers charge a small premium over an exchange according to a price equation which the Seller can adjust. This typically is 4-12% above the market. But for my business to work, I need my bank to process a Faster Payments Incoming FPI transaction before I release a clients Ƀ's. Might be missing something here, so I wrote to BTCChina :D Hi congratulations on new web implementation, physical ATM's also look great! Q's How does the Seller receive payment from Buyer? Turnaround for International Wire (IMT) is too long, so is it done via BTCChina affiliate banking partners? Do you offer any additional Seller protection? How is a potential Dispute resolved between Seller/Buyer? What are BTCChina's fees as %/trade? Best regards, Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: Rassah on April 15, 2014, 05:30:01 PM Aww dangit! They beat Mycelium Local Trader with this release by a day or two. Ours will be out in a bit, will work globally, and won't need an account at a third party... Still sucks that they may have stolen a bit of our thunder, BUT yay for competition :)
EDIT: Got to the end, and it says Picaso ATM has been out for a few months already. So, why was it only announced today? Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: RockHound on April 15, 2014, 05:47:44 PM Aww dangit! They beat Mycelium Local Trader with this release by a day or two. Ours will be out in a bit, will work globally, and won't need an account at a third party... Still sucks that they may have stolen a bit of our thunder, BUT yay for competition :) EDIT: Got to the end, and it says Picaso ATM has been out for a few months already. So, why was it only announced today? Rassah - Your Mycelium Local Trader project is a great idea brother - I and other bitcoiners here, hope you and team will be rewarded for hard work in near future - keep it going! BTCChina offered a web-wallet initially called Picasso. Picasso ATM is a new web implementation. Lamassu ATM's have been available in HK for a couple months. Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: BitchicksHusband on April 15, 2014, 05:49:41 PM Best news IMHO:
Units are displayed in millibitcoin (mBTC) Now people will buy more feeling like they are getting whole bitcoins. Here's hoping everyone else follows. Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: RockHound on April 15, 2014, 06:22:47 PM Best news IMHO: Units are displayed in millibitcoin (mBTC) Now people will buy more feeling like they are getting whole bitcoins. Here's hoping everyone else follows. There will be that psychological effect, never thought about that ;) Have you registered an account with them yet? I have and ready to go! But scared to load up my Picasso wallet - want to find out more first. I'm a trader on Localbitcoins so I have an interest in BTCChina's system Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: Beliathon on April 15, 2014, 06:25:21 PM Best news IMHO: That is excellent news, and it's about time! Many here have been calling for the move to mBTC for months!Units are displayed in millibitcoin (mBTC) Title: Re: Picasso anyone? The Chinese have done it again!!! Post by: S4VV4S on April 15, 2014, 08:30:24 PM Aww dangit! They beat Mycelium Local Trader with this release by a day or two. Ours will be out in a bit, will work globally, and won't need an account at a third party... Still sucks that they may have stolen a bit of our thunder, BUT yay for competition :) EDIT: Got to the end, and it says Picaso ATM has been out for a few months already. So, why was it only announced today? Hi, I checked out your Mycelium project yet I do not understand how it is an ATM, just like the Picasso one to be honest. It is NOT an ATM, it is just an easy way for users to exchange BTC to Fiat. |