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notig
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February 18, 2013, 09:50:06 AM
 #21

Just a couple of random thoughts:

Will 3d printers make it possible to have ATM "kits" that you can get and assemble for cheaper production costs?

Another thought........... if a bitcoin atm actually sold bitcoins for cash and bought bitcoins for cash it might have less maintenance than an ATM that just did one of those jobs since if there was a balance then it wouldn't need to be emptied/filled of cash as often
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February 18, 2013, 11:48:24 AM
 #22

Another thought........... if a bitcoin atm actually sold bitcoins for cash and bought bitcoins for cash it might have less maintenance than an ATM that just did one of those jobs since if there was a balance then it wouldn't need to be emptied/filled of cash as often

Do you read this thread you are posting in? I went into this in great detail further up.

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February 18, 2013, 12:16:34 PM
 #23

Such a machine could even charge fees depending on its $$ stock.

Imagine the shop where it stands would only have to report issues and keep it plugged in. Supply with bills if running low and removal if running full could be done by its customers.

On a machine that is low on $1 and $20, high on $10 and $100 and ok on $5 and $50 bills. The fees could read:
3% for buying and selling bitcoins
Balancing my bill reserves
0% for buying with up to 20 $1 bills
0% for buying with up to 7 $20 bills
-1% for selling worth up to 7 $10 bills
-1% for selling worth up to 25 $100 bills

People could subscribe to take these special offers, basically doing the maintenance loosely organized for a small fee.

Down side would be that the machine would tell when it had a lot of money inside but the machine could also pretend to never hold more than $5000 in the supermarket or $500 outside at the corner. On the other side, if I can throw in $10000, take the bitcoins and take back the $$, too, this obscuring its balance would not help much.

This is too complicated, imho.

Many bank ATMs already deploy state of the art cash recycling mechanisms, USB connected, simple protocol, the host tells the mechanism what amount to issue, alternatively, it tells the host what amount was just deposited. The actual balancing of the cash is done fully automatically, the more advanced units also can output message when certain denomination bin get's low or empty.

Something like this will reduce the workload required to maintain a Bitcoin ATM, although justifying the cost of such automation is a completely different matter.


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February 18, 2013, 12:27:23 PM
 #24

I know nothing about it actually. It doesn't seem like a good idea to me though.... I mean why does it need a camera? Can't bitcoins just be sent to an address created on the fly then you scan some QR code it generates? it seems like a camera would increase the cost of the ATM. but I am probably wrong

I agree with you, does not seem to be a good idea to have cameras and QR-codes.

What if the customer does not have a camera-phone or a smart-phone?

There must be better, more robust  ways to deposit and withdraw Bitcoins...

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