Shiny New ATM's from BTC China Picasso vs Localbitcoins

[RockHound]

[RockHound]

Notice how the new proprietary physical ATM's are unidirectional.

But does anyone have a handle on this new web implementation?

Here's a somewhat vague article from coindesk: http://www.coindesk.com/btc-china-launches-first-soft-bitcoin-atm-interface-international-markets/

And here's PR on BTCChinas' website: https://vip.btcchina.com/page/notice20140415

[RockHound]

Bitcoiners are still a little confused, I certainly am 

Sounds great but also sounds like Localbitcoins

[RockHound]

For the physical ATM's, wonder who their supplier is? They look like Lamassu machines.

lol - do they get a % per transaction? Dollar Dollar Bill Y'all !!  If it takes off, what a contract to land 

[gagalady]

For the physical ATM's, wonder who their supplier is? They look like Lamassu machines.

lol - do they get a % per transaction? Dollar Dollar Bill Y'all !!  If it takes off, what a contract to land 

I'm sure they deduct a fee for their service, otherwise what's the point to make free Physical ATMs.

[RockHound]

Is  ¥100 the largest denomination?

It currently costs  ¥3100/BTC

So would have to inject 31 times to get 1BTC 

If you wanted to buy 3BTC you'd be standing there for 3minutes putting in 93 notes - lol

[seriouscoin]

Is  ¥100 the largest denomination?

It currently costs  ¥3100/BTC

So would have to inject 31 times to get 1BTC 

If you wanted to buy 3BTC you'd be standing there for 3minutes putting in 93 notes - lol

China has the largest counterfeit bills operation in the world.

Heck they even counterfeit foreign bills and export to those countries

PROC want to control so ultimately they like ppl using their banks for transactions.



All of the above.

[RockHound]

What advantages does an international Bitcoiner have to sell their BTC on BTCChinas' Picasso ATM mobile web rather than using Localbitcoins?

Once a trade has occurred or I sell some of my BTC for GBP, EUR or USD will I get credit to use on BTCChina exchange?