0.00066897 confirmed  Not great .... but the silver lining is the share price is unmoved. But some of us want it to move so we can get our bids filled... |
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Dude where are you in San Diego? I live close to the border also. It kind of funny how they said Mexicans are dirt poor when that country has the most Millionaires per capita in that country. Other then that Atm's work just like a middle man. I knew people that use to run ATM's at night clubs. What they did was just buy the ATM and it was connected to a telephone line that would access your account and just be the middle man. The only money they made was the fee for the transaction. I don't know what kind of laws there are but you are only really making money on transactions. Like at strip clubs and Indian casinos they would charge up to $4 bucks. But then again it may be different because you can also purchase bitcoins from the new ATM's. I just wish i had the funds to purchase 5 of them and set them up in the right locations. 100 transaction a day its $400 bucks at $4 a transaction. Or something like that.
Ok first of all, the millionaires dont live in fuckin tijuana or Laredo. The dirt poor mexicans that sell tacos at the borders do. Secondly, there are so many millionaires in Mexico cause you can do whatever the fuck you want and not have to worry about getting arrested. There is a reason pablo escobar was the richest man in the world at one point. Do you know how many millionaires we would have if the fuckin gangsters ran the country? come on man...and ATMs would take cash, your cash...the owners cash. Then that Mexican is going to send your cash back to America? No dude, the cartel just jacked your ATM...get a clue. its a lawless country...15 kids got taken out of a night club at 2pm in the afternoon a few months ago...all murdered, heads chopped off. Where in the fuck does that happen? Mexico, thats where. So again, just a horrible idea Look at the sort of things that happen in the USA: http://en.wikipedia.org/wiki/Columbine_High_School_massacrehttp://en.wikipedia.org/wiki/Sandy_Hook_Elementary_School_shootingI guess the USA isn't a safe place to have an ATM either... |
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I really don't know how refilling ATMs works. I've never owned one or researched it, but I've seen armored cash vans load ATMs in the US. Perhaps it's only feasible for an actual Mexican business owner to own/operate a BTC ATM in Mexico. I'm not even going to pretend to know, but it may be something for someone with the knowledge and experience to look into. I'm not really looking at it from the ATM owner's perspective, but from the ATM user's perspective. If US regulators aren't interested in letting me use BTC ATMs in the US, then I would have no qualms with crossing the border to do so. I've walked across the border into Tijuana many times with out any problems. It's been a few years since i've been down there, but there used to be sportsbooks that allowed you to place bets on American sporting events in US dollars located close to the border because it was illegal to do so in California. Also, a lot of college kids that weren't old enough to drink alcohol in the US would just go to Tijuana to do their drinking.
Dude where are you in San Diego? I live close to the border also. It kind of funny how they said Mexicans are dirt poor when that country has the most Millionaires per capita in that country. Other then that Atm's work just like a middle man. I knew people that use to run ATM's at night clubs. What they did was just buy the ATM and it was connected to a telephone line that would access your account and just be the middle man. The only money they made was the fee for the transaction. I don't know what kind of laws there are but you are only really making money on transactions. Like at strip clubs and Indian casinos they would charge up to $4 bucks. But then again it may be different because you can also purchase bitcoins from the new ATM's. I just wish i had the funds to purchase 5 of them and set them up in the right locations. 100 transaction a day its $400 bucks at $4 a transaction. Or something like that. I lived in Imperial Beach for a while but I've been living in Temecula for the past few years. I used to visit Tijuana quite a bit and the closest thing to any sort of incident I ever had south of the border was a Mexican guy in civilian clothes once stopped me along a busy street in Tijuana, pulled a police badge out of his pocket and said I owed him $50 for jaywalking. I offered to go to the police station with him, but he wasn't interested in doing that, so I just laughed at him and walked away. He then continued to look for some other gringo that would fall for his scam. Other than that one incident, the Mexican people were very friendly and hospitable. Also, their strip clubs don't have all of the rules and regulations that the American ones do. |
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I'm assuming there are ATMs in Mexico now that are secure. I wouldn't know, I'm no expert on ATMs, but would probably be best to locate it inside a business, like the one in Vancouver.
Right of course...and who would refill it? You just contact a Mexican merchant and give him access to your machine? Mexicans are dirt poor, and people who travel to mexico dont go anywhere near the borders or get out of their cars near borders...not americans anyway. There is no way to have a bitcoin ATM and not operate it yourself. No way I really don't know how refilling ATMs works. I've never owned one or researched it, but I've seen armored cash vans load ATMs in the US. Perhaps it's only feasible for an actual Mexican business owner to own/operate a BTC ATM in Mexico. I'm not even going to pretend to know, but it may be something for someone with the knowledge and experience to look into. I'm not really looking at it from the ATM owner's perspective, but from the ATM user's perspective. If US regulators aren't interested in letting me use BTC ATMs in the US, then I would have no qualms with crossing the border to do so. I've walked across the border into Tijuana many times with out any problems. It's been a few years since i've been down there, but there used to be sportsbooks that allowed you to place bets on American sporting events in US dollars located close to the border because it was illegal to do so in California. Also, a lot of college kids that weren't old enough to drink alcohol in the US would just go to Tijuana to do their drinking. |
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I'm assuming there would be fewer regulatory hurdles in Canada and Mexico. If so, it would probably be better to locate them in towns that border the US and design the ATMs located in Mexico to accept US dollars as well as Mexican pesos and have the ATMs located in Canada accept US dollars and Canadian dollars so that Americans would be able to cross the border and change their fiat to BTC with a little more privacy.
hahaha that atm would be ripped out of the the ground in 10 minutes in Mexico. Or to go along with your avatar, "That ATM would up and vanish like a fart in the wind!" And Canada...whats the point. Who will load and unload it...the margins are very small on bitcoin transactions, thats the point. You would have to do everything yourself to turn a decent profit I'm assuming there are ATMs in Mexico now that are secure. I wouldn't know, I'm no expert on ATMs, but would probably be best to locate it inside a business, like the one in Vancouver. |
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Hello everyone I was hoping that someone that is much smarter then me can answer what I've been pondering. I'm getting interested in Bitcoin ATM's its reported that there is one in Vancouver Canada that has processed up to $100000. Now I know it would help the Bitcoin market. Would it be a good idea to find investors purchase these machines and put them in major cities? Like say Mt View California, San Francisco, San Diego. This would help make it easier to buy and sell bitcoins at a moments notice.
Maybe, but how long would it take for you to see a profit of all your tiny commissions? They would probably be a good draw for someone who owned an existing business, but not sure how viable it is as money-maker. Apparently, the Robocoin ATM in Vancouver broke even after 17 days: http://www.coindesk.com/robocoin-bitcoin-atm-cad1m-29-days/On the machine’s first day at the coffee shop, it processed CA$10,000 in 81 transactions. It then broke Robocoin’s first-month goal of CA$50,000 by reaching a volume of CA$81,000 after just a week. By day 17, the machine had broken even for its operators.
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Hello everyone I was hoping that someone that is much smarter then me can answer what I've been pondering. I'm getting interested in Bitcoin ATM's its reported that there is one in Vancouver Canada that has processed up to $100000. Now I know it would help the Bitcoin market. Would it be a good idea to find investors purchase these machines and put them in major cities? Like say Mt View California, San Francisco, San Diego. This would help make it easier to buy and sell bitcoins at a moments notice.
I'm assuming there would be fewer regulatory hurdles in Canada and Mexico. If so, it would probably be better to locate them in towns that border the US and design the ATMs located in Mexico to accept US dollars as well as Mexican pesos and have the ATMs located in Canada accept US dollars and Canadian dollars so that Americans would be able to cross the border and change their fiat to BTC with a little more privacy. |
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I cannot file report as I'm outside Europe.
But I'm ready to give half (6btc) of total 12bitcoins that was stolen from me by Projects in case if some detective or lawyers will find person who is behind the name Projects and draws him to justice
Chainsaw is located in the USA, but he still filed a report. He has even provided a link to the website where you can report the crime in this post: https://bitcointalk.org/index.php?topic=393593.msg4292830#msg4292830 |
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Other than Chainsaw, has anyone else that was scammed been in contact with law enforcement and filed a police report? If you are going to let us know that you were scammed, wouldn't you also want the police to know? I realize the police likely aren't going to be able to retrieve any stolen BTC, but with your assistance at least they can investigate, file charges, prosecute him, and hopefully put him in prison for a while.
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I've sent a PM to Chainsaw with an e-mail address that Projects provided to me a couple of months ago. Hope this gets resolved, but not looking good...
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I can understand this from the point of view of businesses but not from the point of view of the consumer. Why would people switch to start paying in BTC if they have no comeback should whatever it is they purchased not be as described or not received?
When using an irreversible payment method, consumers have to make a conscious effort to transact with businesses that have a solid history of being honest and trustworthy, or use escrow. Consumers that aren't ready and willing to take on this responsibility, shouldn't be using irreversible payment methods. Just wondering if the general consensus from long time Bitcoin users is that if someone is stupid enough to send money to a company that is so obviously not legitimate they deserve to loose their money?
Yes. Freedom and responsibility go hand-in-hand. |
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I understand the potential of abuse if mods had such discretion, but when the evidence is so clear, I dont see how they wouldn't make a correction. I also sent a message to an administrator (who should have more authority). Thanks for the additional details on how the system works though.
I'm pretty sure that theymos and the mods don't make these sort of corrections anymore even with clear evidence (they may have done so in the past, just like the scammer tags). Good luck with your request, but if it doesn't work out don't be too worried, people in general aren't that big on trust coming from newbies; just don't scam anyone and you should be fine. Yeah, feedback is just an opinion, which everyone is entitled to. The opinion of a scammer is meaningless, so there's no reason to worry about it. |
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So he left me a negative trust rating as promised. I'm going to see if the mods will remove it. I hope they have this ability because if not, it would deter people from exposing scammers.
Yeah, mods in general don't remove negative trust from people, otherwise there is the possibility of abuse if the mods are not impartial. I wouldn't be too fussed about a single negative rep, as the user isn't on default trust so it doesn't give you a negative score (for people who haven't changed their trust) and if someone looks deep enough they'll realise its simply a newbie member giving trust, who themselves has no trust. I understand the potential of abuse if mods had such discretion, but when the evidence is so clear, I dont see how they wouldn't make a correction. I also sent a message to an administrator (who should have more authority). Thanks for the additional details on how the system works though. His feedback only adversely affects your Trust score for those that have put him in their Trust list--which I'm assuming is no one. |
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Shawshank,
Maybe I didn't do a good job of explaining. What I meant was that if the RRP lasted two years, it would make us have to raise the rates per Gigahash. For example, in January we have announced a $15 per Gigahash RRP. It would be higher if it lasted longer, and we don't think that our customers want to make that tradeoff.
On your second question, imagine that you buy a two-year contract and that the RRP expires at the two-year mark regarless of when you invest. That would effectively mean that you would only want to do RRP for the first few months of the two-year contract because who would do RRP at say the 16 month mark only to have it expire a few months later.
By making each RRP contract a separate contract altogether, it makes it easier for people to decide if and how they want to participate. It's completely voluntary one way or another.
If I am still not clear, please let me know and I'll try to explain it better.
Michael
Got it. Thanks for the clarification. |
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On the RRP:
The Revenue Reinvestment Program has always added an additional one-year reinvestment contract to your account. Each monthly RRP contract is a new 12-month contract not tied to any existing contract's expiration date. This means that even if you use the RRP in the very last month of your initial contract, your new RRP contract will not expire a month later, but it will continue for the full year following, even after your original contract has long expired. We cannot extend RRP's contracts beyond one year because that would drive up the cost per Gigahash for RRP to a level that would make the program too expensive for our customers. Additionally, if we somehow tied the RRP contract to previous contracts, it would significantly lower our customers' RRP contract ROI each month as the deadline of the original contract approached.
Based on our customers' feedback, we regret not being as clear about this as we would have liked, but please know that we are committed to our customers by always keeping our unique RRP program as affordable and beneficial as we possibly can.
Michael
Can you please elaborate on these two justifications. I'm having a hard time understanding the reasoning behind making the RRP contracts expire after one year. 1. "because that would drive up the cost per Gigahash for RRP to a level that would make the program too expensive for our customers." How does reinvesting revenues drive up the cost of hashing power? Why does it matter where the BTC comes from? Seems to me that it shouldn't matter if the BTC that are being used to purchase available hashing power are coming from the RRP or elsewhere. Is hashing power sold through RRP sold at a discount? 2. "Additionally, if we somehow tied the RRP contract to previous contracts, it would significantly lower our customers' RRP contract ROI each month as the deadline of the original contract approached." I guess this is assuming #1 is true? I thought hashing power was getting cheaper per GH as new mining hardware comes to market. |
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Goldbugs foaming at the mouth and falling over backwards about Bitcoin really amuse me. Its as if they are realizing the horrifying truth, that perhaps something can be considered valuable that you don't hold in your hand. And the best part is, why project that insecurity? If they're so goddamned convinced that Gold is "the one", why even bother fighting about it? Shouldn't they just be cackling to themselves, nodding knowingly about how BitBugs (new term, heh) are sad deluded geeks?
I find the fight fascinating, because psychologically they're projecting their own insecurities about their holdings on to Bitcoin. When someone criticizes me for holding BTC, I'll choose to respond or not, depending - but my overall belief in the math and protocol usually makes me err on the side of laughing a bit, and not engaging them at all. The mindshare battle has been fought on all fronts, and I think we're gaining momentum, even after some nasty Fear-Uncertainty-Doubt tactics from other people and organizations.
So, the best retort I can think of for these guys who sleep on gold bars every night is:
"If Bitcoin is so worthless, then why are you so angry about it?"
The answers should be comedy gold (pun intended) afterward.
What I also find so perplexing is that they adamantly refuse to allocate even a small portion of their portfolios to bitcoin. It's as if many of them seem to think that Bitcoin is an all or nothing proposition--it's either got to be all gold or all bitcoin. Don't they realize that no one is trying to say they have to trade in all of their gold and exchange it for bitcoins? Hopefully, they will eventually be able to open their minds to the possibility that they just might be wrong about some of the finer points of their monetary theories. I also get the impression that some of the gold bugs want the government to decide for everyone what we use as money rather than letting the free market decide. Do they think gold would win out in a free market? |
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The marriage between bankers and politicians resulted in the birth of the creature from Jeckyll Island 100 years ago today. Let's hope for the sake of our posterity this abomination doesn't survive for 100 more. |
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Is Satoshi a scammer, out to enrich himself?
No, he's a genius who's trying to liberate us from the fiat scam. |
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