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Author Topic: Bitcoin ATM just installed at an NYC deli  (Read 987 times)
the_poet
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December 30, 2015, 11:35:15 PM
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http://imgur.com/a/XWYb2

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December 30, 2015, 11:39:13 PM
 #2

Is it true or a Photoshop? why is it placed in some shop and not on a public place like normally atm are? if it is true it is very enthusiastic news I wish it become a normal sight in every part of world

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December 30, 2015, 11:42:29 PM
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only problem is due to the bitlicence, regular bitcoiners have fled away from new york for other states and countries.

goodluck with the fee's that will be needed to pay off the BTM owners licence.. Cheesy

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December 30, 2015, 11:49:10 PM
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Is it true or a Photoshop? why is it placed in some shop and not on a public place like normally atm are? if it is true it is very enthusiastic news I wish it become a normal sight in every part of world
It seems to be legit.

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December 30, 2015, 11:50:26 PM
 #5

I guess, it is very costly to place a ATM somewhere in a crowded place like New York City.
So, such little stores fit best to offer Bitcoin ATMs without having a big budget.

Is it true or a Photoshop? why is it placed in some shop and not on a public place like normally atm are? if it is true it is very enthusiastic news I wish it become a normal sight in every part of world

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December 30, 2015, 11:53:46 PM
 #6

only problem is due to the bitlicence, regular bitcoiners have fled away from new york for other states and countries.

goodluck with the fee's that will be needed to pay off the BTM owners licence.. Cheesy

The company operating the ATM on Reddit: "To operate this business in the state of New York, we must comply with regulations. For transactions over $800 per day we must have an ID on file with a limit of $3,000 per day. The phone number is just proving that customers aren't exceeding the daily limits"

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December 30, 2015, 11:57:18 PM
 #7

only problem is due to the bitlicence, regular bitcoiners have fled away from new york for other states and countries.

goodluck with the fee's that will be needed to pay off the BTM owners licence.. Cheesy

The company operating the ATM on Reddit: "To operate this business in the state of New York, we must comply with regulations. For transactions over $800 per day we must have an ID on file with a limit of $3,000 per day. The phone number is just proving that customers aren't exceeding the daily limits"

As stupid as it may be, I can somehow understand why this is needed. Just imagine the amount of illegal money that is going to go through these kinds of machines, giving receipts out and suddenly you prove of where your money came from.. Money launderers dream Wink


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December 30, 2015, 11:59:40 PM
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Great, another bitcoin ATM = more people using BTC Cheesy
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December 31, 2015, 12:00:55 AM
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They have a lot of those. Not impressed.
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December 31, 2015, 12:09:26 AM
 #10

What do you mean with "they"? Deli stores? I have not seen many evidences that there are a bunch of those ATMs in NYC.

They have a lot of those. Not impressed.

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December 31, 2015, 12:29:21 AM
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How much are the fees it charges, and how does it decide what exchange rate to use?

If it's charging ridiculous fees like 20% it won't get many customers, but if it charges less than the other NY BTMs people will use it. Is it on this BTM map yet?

http://coinatmradar.com/

There are so many BTMs in New York that it's not easy to find if it's on that map.
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December 31, 2015, 12:32:53 AM
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Great bits of kit these.  even if they are not used they are still a great advertisement for the progress of bitcoin.  i used my first bitcoin atm a month ago, purly out of interest and to support the owner.  I find the price is usally abit higher which is to be expected i suppose.
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December 31, 2015, 12:34:42 AM
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only problem is due to the bitlicence, regular bitcoiners have fled away from new york for other states and countries.

goodluck with the fee's that will be needed to pay off the BTM owners licence.. Cheesy

The company operating the ATM on Reddit: "To operate this business in the state of New York, we must comply with regulations. For transactions over $800 per day we must have an ID on file with a limit of $3,000 per day. The phone number is just proving that customers aren't exceeding the daily limits"

the reality is that it would obtain personal details right from the start.. after all they need to find a way to prove someone isnt doing multiple transactions of $799 every few minutes multiple times an hour endlessly feeding the machine. as i can get a sim card for $1 and change a phone number once a minute....

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December 31, 2015, 01:01:52 AM
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Glad to see it coming to the real world, even if people don't buy too much from it atleast it will get people talking

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December 31, 2015, 01:13:23 AM
 #15

Glad to see it coming to the real world, even if people don't buy too much from it atleast it will get people talking

Mmm, this is questionable, sure maybe I feel like this bitcoin machine was put in a lower-end Bodega which are plenty around this area just to acquire attention as someone who is familiar from the (East Coast) NY-NJ-Long-Island Area. Attention to bitcoin is one thing, but using bitcoin and conducting legitimate transactions are another.
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December 31, 2015, 02:39:40 AM
 #16

Another Bitcoin ATM, installed on an area densely populated with Bitcoin ATM's... No need I think, they'll just compete with each other and ROI way more slower. And they do have to comply with a lot of things... So they charge ridiculous fees. Not sure on the fees of this particular machine, tho.

Let's see if this has movement. I see it moving to another place sooner or later.
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December 31, 2015, 02:53:11 AM
 #17

only problem is due to the bitlicence, regular bitcoiners have fled away from new york for other states and countries.

goodluck with the fee's that will be needed to pay off the BTM owners licence.. Cheesy
I just found this information today through another method of search when we were researching rules and regulations for a business venture we are working on at this time.  I am not sure about this, but we are looking into this, but this lay may be something that does not agree with what the federal law states and because of this, if someone puts in the legwork, there is possibility that this may be overturned.  I read the law in full alsong with the revisions and it really looks like this was put into place to deter the use of Bitcoin and other such cryptocurrencies.



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December 31, 2015, 04:02:10 AM
 #18

I've been to NYC and i've seen these bitcoin ATMs popping up everywhere in NY.

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December 31, 2015, 04:30:04 AM
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can you actually spend the BTC in the deli? or at any other physical store in NYC? it still isn't practical for the everyday person.
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December 31, 2015, 08:33:44 AM
 #20

Great, another bitcoin ATM = more people using BTC Cheesy

i don't think so, if someone want really to buy bitcoin, they can simply use an exchange, i'm sure thta anyone using an atm can also use an exchange easily

so this is not going to cut it in any way, adoption will not increase because of atm for sure
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