ATM Robocoin Ends Bitcoin Services

[Master of Puppets]

Who needed thumb-scanning, DNA-leaching, Retina-scanning fucking Robocoin? Who? Nobody, that's who.

High fees and high surveilance. There was no demand for their uncompetitve product. They won't be missed. The opensource-ATMs you build yourself are better than their ponzi.

[Snorek]

Roboscam. End.

They did not cheat and did not steal anything. People who invested in Robocoin's bitcoin business are free to withdraw their bitcoins without problems.
There is difference between failed business project and a scam.

[QuestionAuthority]

Bitcoin is full of stupid ideas and VC money invested by idiots. The good news is stupid ideas fail and bad investors go broke quickly.

[Nagle]

"Withdrawals "may take some time" due to elevated website traffic."

Or, in other words, they stole the money.

[fortunecrypto]

There would be many more atm company that can serve the bitcoin community's need in two years from now we can have atm on every corner as many companies still want to employ the bitcoin system to their company here in our country it's easy to convert your bitcoin to our local currency..

[OROBTC]

Those arms are useless in my opinion anyway. I just want an online service where I can buy bitcoin in seconds.

I don't want to have to go out to buy bitcoin and show in public that I'm buying it.

Hear you, NorrisK (and Master of Puppets too).

I would like to see some brave entrepreneurs open up a service (on the 'Net or even making BTMs) that would sell me BTC for cash without all of the annoying AML/KYC "features".  Whose business is it anyway what we do with our own money (that we have already paid txes on earning)?

SOMEONE is going to figure out how to do this -- selling BTC quietly.  And they will make a fortune.  A gold mine.  Bravo for them.

*   *   *

Hmm, if private individuals, who, um, might have friends who like BTC, might be able to purchase a Lamassu and just keep it in their house...  Sell BTC for CA$H, but just their own...  Maybe let a few friends into the clubhouse too...

SOMEONE is going to get very wealthy cracking this nut.  And localbitcoins just is not doing the job in my city.

[iv4n]

"Withdrawals "may take some time" due to elevated website traffic."

Or, in other words, they stole the money.

That is the same thing that fall on my mind. Or maybe even worst they lost it on gambling or some ponzi investment and now they don't have money to pay out people.

Maybe they will share more information why they quit in next few days.

[notbatman]

OK this is BS I just got an SMS that Robocoin is ending service on the 15th. We started with 1 ATM and now have like 5 scattered around town. Often there's a lineup to use the machine so there's no way they're shutting down due to lack of business; something else is going on.

As for requiring all your personals, fingerprints and a retina scan that was only when they first started up. Since then anybody can use the machine anonymously just insert cash or load BTC and get cash or BTC, no jumping through hoops.

Also the exchange I use and had a fiat ATM card for got sold to Kraken and they didn't carry over the debt card service.

This is all really inconvenient.