Ciphertrace Offers Easy AML to Bitcoin ATMs

[Pursuer]

this is such a strange news! it is like saying a company is now trying to remove meat from hamburgers and replace them with empty bread!

the whole selling point of ATM machines which is also the reason why their fees are high and rates are not comparable to exchanges and basically any other method of buying/selling bitcoin, is that they are providing a much better privacy to people wanting to buy or sell bitcoin. if you remove that and add AML then they become obsolete the second that rule is applied.
because who would want to use an ATM machine while there are exchanges that you can purchase bitcoin with a much better rate?

[darylalban]

this is such a strange news! it is like saying a company is now trying to remove meat from hamburgers and replace them with empty bread!

the whole selling point of ATM machines which is also the reason why their fees are high and rates are not comparable to exchanges and basically any other method of buying/selling bitcoin, is that they are providing a much better privacy to people wanting to buy or sell bitcoin. if you remove that and add AML then they become obsolete the second that rule is applied.
because who would want to use an ATM machine while there are exchanges that you can purchase bitcoin with a much better rate?

Haha that's definitely one way of looking at things but I really don't see how atms were a point of privacy or use case for hiding money in that way. I thought it is more so for anyone to have easy access to "purchasing" it by easy accessibility and ease of use. I might be wrong though.

[Lauren Smith]

this is such a strange news! it is like saying a company is now trying to remove meat from hamburgers and replace them with empty bread!

the whole selling point of ATM machines which is also the reason why their fees are high and rates are not comparable to exchanges and basically any other method of buying/selling bitcoin, is that they are providing a much better privacy to people wanting to buy or sell bitcoin. if you remove that and add AML then they become obsolete the second that rule is applied.
because who would want to use an ATM machine while there are exchanges that you can purchase bitcoin with a much better rate?

Haha that's definitely one way of looking at things but I really don't see how atms were a point of privacy or use case for hiding money in that way. I thought it is more so for anyone to have easy access to "purchasing" it by easy accessibility and ease of use. I might be wrong though.

I think ATM is not the answer. Surely it is easier to just accept bitcoin as a form of payment? You just need a QR code. Why do you need AML when the bank has this info already? When you go to a normal atm you don't bring your ID. You show it once only. It is only ever supposed to be done once and other places can confirm through them, in this way you not tossing your personal info around like it was nothing.

[jseverson]

I think ATM is not the answer. Surely it is easier to just accept bitcoin as a form of payment? You just need a QR code.

In an ideal world. It's unfortunately the prerogative of merchants though, so us customers would have to adjust somehow.

When you go to a normal atm you don't bring your ID. You show it once only. It is only ever supposed to be done once and other places can confirm through them, in this way you not tossing your personal info around like it was nothing.

ATMs are pinned to your identity, and there's no way to replicate that in Bitcoin. Either way, I don't think it's too much of a problem. Bitcoin ATMs fill a niche purpose (getting coins in a pinch, buying for curiosity, etc.), and even the average Bitcoin user can go on with their lives with zero issues without ever using one.