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Author Topic: [ANN] Blockchain Innovation Announces the Release of the BitTeller ATM  (Read 818 times)
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miaviator
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July 11, 2016, 08:37:01 PM
 #1

The World’s Most Affordable Bitcoin ATM

Austin, Texas (July 7) – Blockchain Innovation, announced today the official release of their highly anticipated Bitcoin ATM, the BitTeller. With the growing popularity of cryptocurrency; developing and producing the BitTeller was a no brainier for blockchain Innovation. The BitTeller is a small but powerful Crypto­ATM system designed to provide a safe and simple way to buy Bitcoin and other cryptocurrencies. The BitTeller is portable and easy to move to different locations, but also provides multiple methods for securing it permanently.

At a time when consumers and business owners are reluctant to remove the banking institution from the process, the BitTeller ATM is being released to the cryptocurrency industry.

How does the BitTeller work? The ATM owner loads the BitTeller’s wallet to a desired amount. They can then put the BitTeller in their place of business, home, or meeting hall. It is then ready for friends, customers, or anyone to purchase coins with cash. At the end of the day, the owners can remove the bills and reload the system as needed. A notification system is also available to alert the owner via email for issues such as:
low balance, system errors, and daily status reports BitTeller updates its’ data every two minutes from multiple exchanges to make sure pricing remains accurate. BitTeller also allows ATM owners to customize their pricing by adjusting how much they earn with each purchase.

“After months of development, prototypes, and testing, we are proud to introduce the BitTeller ATM to the cryptocurrency industry” said Blockchain Innovation CEO, Jonah Dorman. “We strived to design an ATM that is affordable to even the smallest businesses or individual. I believe we have achieved that, and delivered a system that both users and owners will find simple to use, and most importantly, safe.”

About Blockchain Innovation: Blockchain Innovation is a leader in large mining operations, coin development, hardware sales and more for Bitcoin, Litecoin, and other alt­coins. In business since 2015, Blockchain Innovation comprises of individuals with many years of experience in all kinds of development roles across multiple industries. To visit and learn more please visit https://bitteller.io





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July 12, 2016, 09:03:44 AM
 #2

I am confused, are you in business with Jonah Dorman?  Aren't both of you guys Paycoin peeps?

Are you aware that ATM's for Bitcoin have been around for a long time?

Also, do you guys help people get the MSB license etc needed to use the machines in the USA?

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July 12, 2016, 06:00:32 PM
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I am confused

I can see that.

are you in business with Jonah Dorman? 

I am not.

Aren't both of you guys Paycoin peeps?

I am one person not "you guys" I am also not made of marshmallows and sugar.

Are you aware that ATM's for Bitcoin have been around for a long time?

Yes.

Also, do you guys help people get the MSB license etc needed to use the machines in the USA?

Why would [we] I help people get a license that isn't needed for everyone?

Our base offering provides for a machine which can be used in several places with no licensing whatsoever *Do not construe this as legal advice and ask a competent attorney before acting* Our Texas attorneys advised us that an Individual or Business who is selling their own coins does not require MSB licensing.    This is how our system was modeled.   The ATM's can (again pending your attorneys verdict) be setup at stores, bars, shops, kiosks around Texas as well as other locations in the US without licensing concerns.   

This may be why you are so confused.   Bitcoin ATM's designed for ease of ownership and operation as well as affordable and portable bitcoin ATM's have not been around for a long time.   

Great questions though, keep them coming.

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July 12, 2016, 08:01:37 PM
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Why would [we] I help people get a license that isn't needed for everyone?

Our base offering provides for a machine which can be used in several places with no licensing whatsoever *Do not construe this as legal advice and ask a competent attorney before acting* Our Texas attorneys advised us that an Individual or Business who is selling their own coins does not require MSB licensing.    This is how our system was modeled.   The ATM's can (again pending your attorneys verdict) be setup at stores, bars, shops, kiosks around Texas as well as other locations in the US without licensing concerns.  

This may be why you are so confused.   Bitcoin ATM's designed for ease of ownership and operation as well as affordable and portable bitcoin ATM's have not been around for a long time.  

Great questions though, keep them coming.

Interesting, I'd assume that you got that response recently? I built a Bitcoin ATM a couple years ago, and it was only explicitly legal to operate in two or three states at the time. Not trying to threadcrap, just honestly interested in how the laws have changed. Two years ago, demo models weren't allowed to be powered on in New York, couldn't be operated in 28 or so states at the time, and was a gray area in the rest minus a couple. If your findings have shown more favorable legal responses, that would be an interesting indicator of judicial awareness of Bitcoin.

Either way, by watching the video, I know the hardware in it, approximate production costs, software to some extent, etc. There shouldn't be any problems with security/counterfeit bills or anything of that nature, and the price is pretty decent.

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miaviator
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July 12, 2016, 08:54:53 PM
 #5

Why would [we] I help people get a license that isn't needed for everyone?

Our base offering provides for a machine which can be used in several places with no licensing whatsoever *Do not construe this as legal advice and ask a competent attorney before acting* Our Texas attorneys advised us that an Individual or Business who is selling their own coins does not require MSB licensing.    This is how our system was modeled.   The ATM's can (again pending your attorneys verdict) be setup at stores, bars, shops, kiosks around Texas as well as other locations in the US without licensing concerns.  

This may be why you are so confused.   Bitcoin ATM's designed for ease of ownership and operation as well as affordable and portable bitcoin ATM's have not been around for a long time.  

Great questions though, keep them coming.

Interesting, I'd assume that you got that response recently? I built a Bitcoin ATM a couple years ago, and it was only explicitly legal to operate in two or three states at the time. Not trying to threadcrap, just honestly interested in how the laws have changed. Two years ago, demo models weren't allowed to be powered on in New York, couldn't be operated in 28 or so states at the time, and was a gray area in the rest minus a couple. If your findings have shown more favorable legal responses, that would be an interesting indicator of judicial awareness of Bitcoin.

Either way, by watching the video, I know the hardware in it, approximate production costs, software to some extent, etc. There shouldn't be any problems with security/counterfeit bills or anything of that nature, and the price is pretty decent.

Thanks Salty!  Glad to hear our pricing is on point.  It was difficult to find a good price point and yes the acceptance rate and counterfeit detection was a big part of choosing components and is a big part of the units cost.   

On the regulation front it is partially new regulations and clarifications by states and mostly the way these ATM's operate when in standalone mode. 

The Texas example comes from the premise that an individual can sell cryptocurrencies which they own without the burden of financial regulation (obviously to certain extents and limits).   In standalone mode our machines DO NOT purchase coins from an exchange which allows them to operate as an automated way for companies and individuals to sell coins which they own complying with rulings in many jurisdictions (I only have received legal advice regarding Texas).   

Of course the distributed management and wallet control systems we offer as extended services can purchase through exchanges and control a lot of coin loading unloading functions.  This service is just not needed or included in the base units making them ideal for individuals and small companies who get the OK from their OWN attorneys to operate these in approved jurisdictions.

Most of our current inquiries and most of our pre-release inquiries are for bulk sales and international sales as just like you said most ATM's are not legal to operate in the US without licensing and in some places even with licensing you can't operate them.   This was one of the major reasons for creating the machines we did.

*Again nothing here is intended expressed or implied as legal advice.   Seek the counsel of a competent attorney in your jurisdiction. *

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August 10, 2016, 12:55:15 AM
 #6

Considering whats available in the market and the legalities in the USA, you're overpriced and waaaay behind the curve. That horse has bolted... a long time ago. Do some market research.

And your Paycoin associations will not help.

Remember, because some never forget.




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August 11, 2016, 03:07:07 PM
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So what you are saying is that you are not Jonah Dorman that was so instrumental in the GAW scam? And you are saying that you had no involvement in Paycoin? Just want to be clear that you are denying that you are indeed him.

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August 11, 2016, 06:02:59 PM
 #8

Hi,
any plans for accepting EUR ? I've been looking for something like this for some time, I saw project Skyhook that looks pretty similar to your design, are you affiliated in any way with them?

Also in case I buy one and pay BTC, do you accept escrow?

Cheers,
Q.
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