ATM Robocoin Ends Bitcoin Services

[virtualdn]

So what do you guys think about this?

http://www.coindesk.com/robocoin-romit-ends-bitcoin-services/

[Hazir]

http://www.coindesk.com/robocoin-romit-ends-bitcoin-services/

So much bad news lately, Cryptsy, Haern and now this. That article is not telling us why they quit.
Does anyone find out why they are closing their bitcoin branch? Company is in bad shape and they are cutting expenses, or they find bitcoin is a dead end?

[virtualdn]

I don't think BTC will end but it will suffer a major drop the next weeks... then it will come back even stronger than before.

However is unbelievable what effect has Mr. Mike's post made today - so many people scared at once

[lottery248]

i am believing that your thread should be moved into "press" session, please add the date of that matter in the title.

I don't think BTC will end but it will suffer a major drop the next weeks... then it will come back even stronger than before.

lmao because people will be panic on selling, buying after the major drop.

[robelneo]

So what do you guys think about this?

http://www.coindesk.com/robocoin-romit-ends-bitcoin-services/

It's a very bad week for bitcoin with all the negative and bad news lately the price has dropped 12% since these bad news but in my opinion we will have a rebound,it's just a start of the year and we have a long way to go on the positive note this is the best times to buy some bitcoins now the price keeps dropping that is if you are a risk taker

[oblivi]

Robocoin was always SHIT anyway. Did any of you actually try this thing? It was a total mess, you would need even a hand scan along with ID and a lot of other shit. Such ATMs only bring a bad feeling to people because they need a lot of credentials to get some damn Bitcoin.

[Yakamoto]

So what do you guys think about this?

http://www.coindesk.com/robocoin-romit-ends-bitcoin-services/

It's a very bad week for bitcoin with all the negative and bad news lately the price has dropped 12% since these bad news but in my opinion we will have a rebound,it's just a start of the year and we have a long way to go on the positive note this is the best times to buy some bitcoins now the price keeps dropping that is if you are a risk taker

By the looks of it, there was a panic sell by the European and other eastern countries because they woke up and saw the decrease, causing them to sell in the same way other users are now.

It would hold off buying right now, and you should wait to see where Bitcoin will bottom out and decide what to do from there.

As long as you keep holding and maintain resilience, you will most likely come out on top in the future. Bitcoin has hit another wall at ~$365, so we'll have to see what happens tomorrow. It appears most of the people intent on exiting the Bitcoin economy are gone, and its now the people who are left will dictate where the price will go.

[chopstick]

I always kept hearing their ATM's sucked ass. If they want to try to blame bitcoin for their company's failure when it was really their crap product and crap customer service, that is just downright deceitful.

[OROBTC]

Robocoin was always SHIT anyway. Did any of you actually try this thing? It was a total mess, you would need even a hand scan along with ID and a lot of other shit. Such ATMs only bring a bad feeling to people because they need a lot of credentials to get some damn Bitcoin.

My city has two Bitcoin ATMs ("BTMs").  They are Lamassu brand.  I have used one of them.  About 25% of the time, it is not working (or correctly anyway), though sometimes the owner can reboot it from their office.

The one I have used here wants a scan of a Driver's License.

I don't understand why it should be so hard to make a decent BTM.  The Lamassu works (mostly) and is resistant to at least casual theft (of the CA$H inside it).

[Kprawn]

These guys are operating on thin margins and competition in this market is tough. They could not hack it in the BTM hardware model and then changed over to the software and

remittance side. Now they are changing again and want to try the card storage services for mobile payments? Either way, things looks a little bit unstable there, if you

constantly needs to make huge business model changes like that.  If I were a investor there, I would be very worried.... How do you build on customer trust, if you keep on

jumping from the one model to the next?

[strayanbit]

Bitcoin atms have relatively high fees%?  I would imagine a trade on localbitcoin would be easier, and you don't even have to get in the car.

[LiteCoinGuy]

Roboscam. End.

[ðºÞæ]

Not really surprising bitcoin is for internet not a brick and mortar type of operation

[ranochigo]

Bitcoin atms have relatively high fees%?  I would imagine a trade on localbitcoin would be easier, and you don't even have to get in the car.

They do. Considering the rental cost and the machine costs, it would be understandable. Localbitcoins isn't a fair comparison, there are still scammers there and not everyone prefer to use bank accounts to buy Bitcoins.
Robocoin wasn't that much of a great machine from the start. They are big and bulky with a high pricing. By enabling KYC/AML features by default, users who do not wish to give out information from countries without specific policies for ATMs like this would be discouraged to use the ATM. This would've hurt the revenue of the ATM operators. Alternatives such as Lamassu are smaller, fast and have a fancy UI.

[Swordsoffreedom]

Good since the contracts were terrible for users and new competition went and made them obsolete.
In a pressure industry companies fail when they lack adaptation being first is good but keeping yourself competitive in a new market is important as well.

[Trouble821]

Robocoin was always SHIT anyway. Did any of you actually try this thing? It was a total mess, you would need even a hand scan along with ID and a lot of other shit. Such ATMs only bring a bad feeling to people because they need a lot of credentials to get some damn Bitcoin.

My city has two Bitcoin ATMs ("BTMs").  They are Lamassu brand.  I have used one of them.  About 25% of the time, it is not working (or correctly anyway), though sometimes the owner can reboot it from their office.

Thanks for the heads up. I have been toying with the idea of making a long journey to my nearest Bitcoin ATM, and I expected it to be working 100% of the time. I thought its functional hours would be the same as the shop's opening hours that it's installed in. It would have been a complete letdown if I had made the journey and found the ATM was not working.

[NorrisK]

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.

[Amph]

bitcoin does not really need to service, once you can easily buy things from private and pay directly in bitcoin everything else will be obsolete, this can be done with a platform like open bazar

service like this are heavily centralized, they must regulate everything before accepting a new way of payment, it's the reaosn why amazon is still not accepting bitcoin, and many other for that case

in this case i muse private vendors of atm will emerge, it's not like the end of the world

[crazyivan]

What s the problem with this? Every industry s the same, better, more innovative companies survive and those less able to adapt, go down.

Why would this affect BTC at all?

[Bitcoinpro]

My ATM is my phone

I don't need physical cash or banks anymore