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My budget is as high as 15.000$.
... or live in a fantasy world thinking they can code this.
I think you live in fantasy as well if you think somebody may code an advanced secure payment processing system based on new technology as bitcoin with bank and bitcoin exchanges integration for $15.000
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in Singapore there are 4 different bitcoin atms, thought i don't see them on the map! ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) In Singapore there are actually 8 Bitcoin ATMs - check here Bitcoin ATMs on the map
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Is this line of thought correct..are multisignature wallets a good solution?
You simply don't understand how it works. The exchange can not operate without full control over the funds. The multisignature addresses can not be used here.
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Bitcoin ATMs added to http://coinatmradar.com this week: Lamassu machine in Shanghai: at the IC Coffee Shop , in Shanghai’s Pudong , Zhangjiang Hi-tech Park, China Reference: http://www.coindesk.com/btc-china-launches-first-soft-bitcoin-atm-interface-international-markets/Lamassu machine in São Paulo: Bar do Zé Gordo, Rua Professor Serpa Lopes, 164 - Casa Verde, São Paulo - SP, 02510-050, Brazil Reference: http://exame.abril.com.br/seu-dinheiro/noticias/sao-paulo-recebe-1o-caixa-eletronico-de-bitcoins-do-paisFees: 2.5% LocalBitcoins machine in Helsinki: Fredrikinkatu 22, , 00120 Helsinki, , Finland Reference: http://www.coindesk.com/localbitcoins-manufacturing-low-cost-bitcoin-atm/Limits: Max BUY 2.500 EUR, Max SELL 2.000 EUR LocalBitcoins machine in Helsinki: Delish Store, , Iso Roobertinkatu 2, , 00120 Helsinki Reference: http://www.coindesk.com/localbitcoins-manufacturing-low-cost-bitcoin-atm/Limits: Max BUY 1.000 EUR, Max SELL 500 EUR Lamassu machine in Halifax: Durty Nelly's Irish Pub, 1660 Argyle St, Halifax, NS B3J 2B5, Canada Reference: http://www.cbc.ca/news/canada/nova-scotia/bitcoin-atm-in-halifax-a-first-in-atlantic-canada-1.2609131Robocoin Kiosk machine in Sydney: Westfield's Sydney Central Plaza, next to Pitt Street Mall, Sydney Reference: http://www.smh.com.au/business/banking-and-finance/bitcoin-goes-retail-with-westfield-atm-20140415-36ozb.html
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I cannot find ANY working site where I can view truly existing ATMs
On coinatmradar.com the list of working ATMs, although it is not possible to use search there yet.
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Bitcoin ATMs added to http://coinatmradar.com this week: Robocoin Kiosk machine in Charleston: TD Arena & John Kresse Court, Burns Ln, Charleston, SC 29401 Reference: http://newsbtc.com/2014/04/10/south-carolina-gets-first-robocoin-bitcoin-atm/BTC-O-MATIC machine in Ljubljana: Svet Kulinarike, Gostinstvo, Trgovina In Turizem, D.O.O., Dunajska cesta 119 1000 , Ljubljana Reference: http://www.reddit.com/r/Bitcoin/comments/22olp3/first_bitcoin_atm_in_slovenia/Genesis1 machine in Quebec City: Auberge Amérik Hotel, (adjacent to the Baguette , et Cie coffee shop), 1720 Chemin de la Canardière, Québec, QC G1J 2E3, Canada Reference: http://newsbtc.com/2014/04/05/genesis1-bitcoin-atm-goes-active-duty-quebec-city/Robocoin Kiosk machine in London: Internet Cafe Worldwide Connection, 25 Boswell Street, Holborn, London WC1N 3BW Reference: http://www.coindesk.com/robocoin-machine-heats-competition-londons-bitcoin-atms/Robocoin Kiosk machine in Mountain View: Hacker Dojo, 599 Fairchild Dr, Mountain View, CA 94043, USA Reference: http://mv-voice.com/news/2014/03/28/valleys-first-bitcoin-atm-opens-at-mvs-hacker-dojoFees: 3-4%
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According to the description this is pure POS terminal, why do you compare it with existing Bitcoin ATMs/"vending machines"?
Can it be used not to accept payments say in restaurant or shop, but just for purchasing Bitcoins with cash, e.g. like lamassu machine? If yes, what are the compliance checks that could be set up with it?
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Bitcoin ATMs recently added to http://coinatmradar.com: Numoni machine in Kuala Lumpur: Bangsar Shopping Centre, F116, 1st Floor, 285 Jalan Maarof, Bukit Bandaraya, , 5900 Kuala Lumpur, Malaysia Reference: http://www.coindesk.com/money-spinners-weeks-bitcoin-atm-news-2/Numoni machine in Penang: Charlie Cellular Marketing Sdn Bhd, 170-03-10 Persiaran Gurney, , Gurney Plaza 10250 Penang, Malaysia Reference: http://www.coindesk.com/money-spinners-weeks-bitcoin-atm-news-2/Lamassu machine in Sydney: Black Star Pastry & Cafe, 85-113 Dunning Avenue, Rosebery NSW 2018, Australia Reference: http://bitscan.com/articles/sydneys-first-bitcoin-atm-opens-to-the-public/Limits: $10000 withdrawal limit Lamassu machine in Taipei: Gelateria Cosi o Cosi, No. 153, Dun Hua S. Road, Sec. 1, Taipei, Taiwan, (02) 2771-5883 Reference: https://localbitcoins.com/ad/89661/bitcoin-atm-no-151-section-1-dunhua-south-rd-daan-district-taipei-city-taiwan-106Supported crypto-currencies: TWD Lamassu machine in Edmonton: Rose & Crown Pub, 10235 101 St NW, , Edmonton, , Canada Reference: http://btcsolutions.ca/atm/Limits: $3,000.00/transaction Fees: 6% Genesis1 machine in Tijuana: BIT Center, Blvd. Gustavo Díaz Ordaz 12415, Tijuana, Baja, California 22106 Reference: http://www.coindesk.com/mexicos-first-bitcoin-atms-will-also-deal-altcoins/Limits: 10000 pesos and 2000 USD per day Fees: Roughly 5% 2 ATMs in one place - one for Mexican Pesos and the other for US Dollar
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A while back I started to track bitcoin ATM's news and finally launched a small site with map of bitcoin ATMs - http://coinatmradar.comAnswering your question - there is for sure a demand, and many bitcoin ATMs (actually mostly vending machines) are appearing here and there. And there are many planned to be launched, probably you've heard about 400 machines in Dubai (not sure that it would appear like this - doesn't make sense to have so many machines in small area in my opinion), anyway I would say that 2014 could be the year of "bitcoin ATMs". And definitely we are standing at only the beginning, so it would probably be a good time to jump in, although there are many manufaturers already - see on my site there are 12 different listed. But as mentioned above - there are some problems with regulation, and I think many people who initially bought it to install, later found out that they have to comply with so many things and finally didn't launch it. E.g. in public sources I found that there 16 lamassu machines are working (see on my map), but if you look at map of lamassu produced and sent machines https://lamassu.is/maps/ - there are about 60 locations mentioned on their map, but you can not find those machines actually working. Also in the past there were several threads that people basically wanted to sell bitcoin machines they received previously, because due to legal restrictions they could not utilize those.
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Their prototype looks very similar to this picture. So I assume they have already manufactured the machine itself. You can see on their site http://btcpoint.org/2014/03/02/btcpoint-bitcoin-atm-presentation/I have added them a while back as manufacturer to my bitcoin ATM map site, but have not added any really functioning ATM yet, as have not seen any news on this. I think they are at the very start, not sure they delivered any machines to customers, but probably would very soon. So I would advise to approach them and you can share your findings later with community.
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I think we'll see that start to happen naturally as things progress. For example, opening a bank account usually requires two forms of ID. Well, one form of ID is a bank card from another bank. I think we'll see this in the Bitcoin ecosystem too, where customers that have gone through KYC at an exchange may have automatic access to some ATMs. Here is another interesting thread about this http://www.reddit.com/r/Bitcoin/comments/1yosor/robocoin_is_collecting_biometric_scans_from_all/Right now the maximum AML procedures of Robocoin (activated in US) are: - mobile number confirmation - camera photo + ID document scan (manual procedure) - palm veins scan As far as I understand identification happens by staff of Robocoing by verifiying the photo and document scan. The palm vein scan is used for obeying the limits in the ATM. And this is exactly what many people complain about. And I would be skeptical myself as well to provide this. No bank requires any of this, why should I provide it to someone whom I don't really know well. I think the identification should happen in similar way as it happens on BitStamp for example (you send doc + address verification). Not sure about US exact requirements, but if there are problems accepting those online, potentially there could be offices/branches, which would be similar to opening bank account in a bank. Then there is a question of limiting transactions for particular person per some period of time. But this could easily be achived by attaching some particular bitcoin address to my robocoin account, means I could deposit money only on this particular address and they could control the limits easily. Initially I was thinking about some kind of existing networks, because it would be a real boost. In Russia bitcoins are banned, and this is not an option. But as an example they have huge network of terminals, where people can put money to their mobile, pay to internet providers, pay bills etc. E.g. here an example Qiwi, here is the network in Moscow https://www.qiwi.ru/replenish/terminals.action?lat=55.73421489447054&lng=37.62129170835124&zoom=13&owners=1&owners=16&owners=24It is already present there, nothing to be installed, only the payment option to be added for bitcoins topping up and that's all, of course given the process is compliant with legal requirements. Coinkite is developing their own network and potentially could introduce ATMs later as they issue cards, but this is like starting from scratch which is very resource and time consuming process.
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thanks for that site. if you can keep it up to date, its great!
Thanks for kind words. Sure will try to keep it up-to-date, that was the initial idea ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Just added the first bitcoin ATM in Spain from Pay MaQ. But my post initially was about the way ATMs or similar machines could be working fully legally in current regulatory requirements and be an easiest way for users. Any ideas about the idea suggested above?
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I would like to discuss the following topic: in order to bring Bitcoin to public - it should be simple and easily available. Forgetting about mining, right now there are not many options to get bitcoins - buy from someone personally, buy on exchanges, buy in ATM. I would like to discuss the latter option. Nowadays many ATMs are coming in different countries, looks like 2014 could be a year of bitcoin ATMs according to news. I created a simple one page site to track those ATMs on the map - http://coinatmradar.com. But there is consistent problem with providing ATM services - regulation. The clients should be identified for KYC/AML policies. Some ATMs (I think Robocoin ones) may use webcam to get user photos, scan ID documents or even taking finger prints. The lamassu vending machines don't give those rich functions, and sometimes the data collecting function becomes crazy, e.g. for the recently installed lamassu ATM in Albuquerque - the owner of the cigar bar was sitting near the machine and collecting personal data of people who bought bitcoins using his laptop. I agree that there should be AML/KYC policies in place, I don't really see a way for the network to grow without obeying those regulations, but why those two functions (person identification and actual depositing/purchasing) are not split? I mean - this is a bit strange idea to apply identification by ATM: I may close the camera not to take a pic of me, may scan some fake IDs etc. But if there is a service that provides the AML beforehand, e.g. you can register with them and provide identification (like it is done on exchanges) and then having the individual account of such a service, I could deposit money in order to buy bitcoins. That would become similar to putting money on mobile account or pay bills using those already existing cash machines. For this even no ATMs would be needed to install, those existing networks of machines could be used, there would just new receiver in the list should be added. I have not heard of any of those services. Is there any flaw in my logic? I think it could give a real boost in adopting bitcoins.
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I'm a true fan of Bitcoin and truly believe that it's there not to disappear one day. There are many obstacles already, e.g. in the regulation area, and in order to facilitate growth of acceptance - there should be many services around it. The easiest way to go into public for Bitcoin are ATMs. There are different manufacturers in the area: Robocoin, BitAccess, Lamassu. But while I was looking through - I found out that info on locations of those ATMs is very scarce in the internet. There are many marketing posts about launching it soon, but you can hardly find where exactly the ATMs are already present. E.g. check https://lamassu.is/maps/ - they have so many ATMs on the map - but there are no details about addresses and it all looks like those are marked where they have shipped (country level only) or plan to send. I want to introduce service where you can find already operating Bitcoin ATMs on the map from different providers - CoinATMRadar.comThose on the map were added after searching in different public sources and I plan to look further and keep it up-to-date. Would appreciate if someone could report other locations. Hope it would be useful and add value to Bitcoin spreading out. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2F2MFbNUJ.png&t=663&c=yJj-M5F17XnYUg)
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