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Author Topic: Canadian Bitcoin ATM Looking for CAD Investors  (Read 804 times)
takagari
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August 07, 2015, 03:38:13 PM
 #1

Good day,

My name is Shawn and I run the Winnipeg ATM.
I have recently bought out my partners and in doing so spent a lot of my capital.

So I am looking into getting CASH investors.

A bit about the ATM.
We have been established for 1.5 years.
Located centrally in Winnipeg, open until 1am.
BitAccess Buy/Sell BTM.

What I have and need:
- I have a 10.5 BTC on the BTM hot wallet.
- I have a 9 BTC balance on the exchange account
- I am looking for $12,000 CAD investment from investors.

Why:
- Due to the amount of time involved in emptying, going to bank, moving money to exchange etc. and the downtown of the banks, i.e. weekends, holidays, after hours.
I constantly run into the issue of my machine running empty and not being in a position to quickly restock it, as the ATM and exchange account do not have the buffer to keep up with higher demand and the time required to move funds to the bank.
- A larger cash float will ensure a more stable service and ensure I am not turning away potential customers.

How:
- Looking for cash investment, We can accept this in either BTC or Cash, but it will be held on it's cash value, not BTC value.

Where will the money go:
- It will NOT be spent.
- I'd like to have $2,000CAD sitting in the machine at all times in $20 bills to ensure we can always buy BTC back.
- I would have the rest remain on the exchange, being cycled out of the exchange and into the ATM as cash. Than back into the exchange through the bank. Or buying BTC for cash.

Payment:
- Your initial investment will stay the same, and can be withdrawn at anytime with a few days notice.
- I will be paying 25% of the machines base profit to the investors. Divided out to the investors on a monthly basis, based on your % of investment.
- We can payout in BTC, or if Canadian, through E-mail Money transfer, or PayPal if you wish, but you would assume the fee's.

My machine has seen fairly steady purchases, but I have had customers with large orders turned away due to the machine balance being low.


If this interests you, please PM me for more details, what sort of info you would need about me, etc.
As I am not interested in posting all my DOX info publicly or machine stats, for obvious reasons.

I'd love to see this all be one investor for simplicity, but would be okay with dividing this up to 6 people, or $2,000 per investment.

Thank you for your time.

Shawn
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gogxmagog
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August 08, 2015, 12:07:09 AM
 #2

I'm aware of you Shawn, been following your story a bit (I'm a fellow Canadian, Victoria BC, eh?)

what are your financials for this ATM looking like? That would be first and foremost on my list of things I would have to see even before considering any investment.

Also, I have people in Winnipeg who could check things out to make sure everything is on the up-and-up. I have already heard good things about you, but sometimes little things make a big difference and it is good to see things with your own eyes (or a pair of trusted objective eyes of a friend)

some of my Winnipeg friends may even be interested in this venture too. it all really depends on the financials (historical AND projected) and making sure you aren't in some sort of crisis situation personally... no offense, but its something to make sure of before investing in anything.


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takagari
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August 08, 2015, 01:07:27 AM
 #3

I'm aware of you Shawn, been following your story a bit (I'm a fellow Canadian, Victoria BC, eh?)

what are your financials for this ATM looking like? That would be first and foremost on my list of things I would have to see even before considering any investment.

Also, I have people in Winnipeg who could check things out to make sure everything is on the up-and-up. I have already heard good things about you, but sometimes little things make a big difference and it is good to see things with your own eyes (or a pair of trusted objective eyes of a friend)

some of my Winnipeg friends may even be interested in this venture too. it all really depends on the financials (historical AND projected) and making sure you aren't in some sort of crisis situation personally... no offense, but its something to make sure of before investing in anything.

That all makes sense.
I'm not up for posting financials publicly. and to be honest the old system BitAccess offered was one hell of a mess for tracking profits, but recently they've switched to a daily automated email of profits, which I could include you in, would send you the email nightly on what the machine pushed. they than send out monthly (ish) emails for calculations of the adminstrative fee they take, which would not effect the investors profits.

I'm fine with meeting someone local, I wouldn't expect anything less honestly.
Obviously the more capital we have on the machine the better.
I've had scenario's where two users have emptied my exchange on a friday night of a long weekend. and than I'm really stuck when it comes to banks etc.

I have a VIP account with Quadriga and have access to direct deposit large amounts. The issue comes up when the banks are not open.

No crisis here, just sick of having to run to the machine every day or other day to move the float Smiley.

As far as the machine, it's solid, very little issues, can't remember ever having to reset it.

Thank you for your interest, look forward to hearing from you.

Shawn
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August 08, 2015, 01:41:19 AM
 #4

This looks like an awesome thing, but how do you deal with volatility in BTC's price? If you don't have constant turnover, you can end up buying BTC right before it plummets, or sell it right before it shoots up in price. How do you negate these effects?


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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takagari
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August 08, 2015, 04:37:41 AM
 #5

This looks like an awesome thing, but how do you deal with volatility in BTC's price? If you don't have constant turnover, you can end up buying BTC right before it plummets, or sell it right before it shoots up in price. How do you negate these effects?
Higher end ATM's do not sell bitcoin,
They hold a bitcoin float in a hot wallet and are tied directly into an exchange, if the ATM sells 1BTC it will ship that to the persons wallet instantly, and at the same moment it pushes a buy order on the exchange to purchase the same amount of btc, than sends that to itself.
There is no risk based on movement within BTC.
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