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Frozenlock (OP)
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May 02, 2013, 07:51:43 AM |
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I will also say: nice timing.
Suspiciously nice...
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dhenson
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Activity: 994
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May 02, 2013, 07:52:30 AM |
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Well that explains why they have been unresponsive to my information requests.
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NamelessOne
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May 02, 2013, 07:55:37 AM |
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He was the marketing guy for a while, in the end... whatever.
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DavidBAL
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Always riding the Bull...
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May 02, 2013, 07:56:13 AM |
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Bad news...
Disagree, good news. This shows that the actual entrepreneurs at bitcoinatm have good advisors telling them to comply with all regulation. Berwick (while I agree with him) wanted to make a political statement, and that is not what you need as a struggling startup trying to get past regulators. Was much harder to let him go than to keep him on.. seems they probably made the right call. |
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BubbleBoy
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May 02, 2013, 07:58:11 AM |
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And then the 23 year old entrepreneur, Evan Rose, who was half-owner of the BitcoinATM notified me a few days ago that my participation was no longer necessary. So he was fired. For being a tool: Specifically, in the US and Europe, there are an incredible amount of banking, money and even telecommunications rules and regulations that would have to be adhered to if the company had any hope of survival. Not least of which was a $25 million "insurance bond" necessary as being deemed a "money transmitter" in the US.
Those who know me know that I despise all government regulation and taxation and see it as being economy destroying. The ATM exists, and will be demonstrated today. It's obviously far from conquering the world, and will have zero impact on price. |
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cbeast
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Let's talk governance, lipstick, and pigs.
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May 02, 2013, 07:58:30 AM |
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In about twelve hours we'll know more.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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BTC Books
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May 02, 2013, 08:06:12 AM |
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It's bad news if the ATM project falters at all: this news will compound that unmercifully. Otherwise - if things stay on the announced track - it's neutral. At The Moment (no pun intended  ) |
Dankedan: price seems low, time to sell I think...
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NamelessOne
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May 02, 2013, 08:07:44 AM |
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Sometimes you need to be the sneaky bastard that worms your way in rather than the steam rolling loud mouth breaking laws. It was way too idealistic of him to think bitcoinatm could just erase/bypass the old world money system and ignore laws, haha. If the main issue is the US and Europe then starting in other countries might be the way to go until they have the ability to pay for those insurance bonds.
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Frozenlock (OP)
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May 02, 2013, 08:11:59 AM |
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Well I don't quite see it like that.
Put money in machine, acquire bitcoins.
Put money in machine, acquire gums/toys/cards/whatever.
Somehow one is different? Is it the ability to sell back to the machine that's the problem for US laws?
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ronaldlee0917
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May 02, 2013, 08:15:23 AM |
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Just a guy kicked out of the project
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Donation: 18zXsfnSvGjQFJ6pEiKMg2uWGcxUCfJLzu Mastercoin - A new protocol layer built on top of Bitcoin |
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gizmoh
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May 02, 2013, 08:23:10 AM |
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Anyone want to take a bet that Coinlab will NOT get its licences by Mid May  They are so quiet..Fincen is not our friend!! |
How Ripple Rips you: "The founders of Ripple Labs created 100 billion XRP at Ripple's inception. No more can be created according to the rules of the Ripple protocol. Of the 100 billion created, 20 billion XRP were retained by the creators, seeders, venture capital companies and other founders. The remaining 80 billion were given to Ripple Labs. Ripple Labs intends to distribute and sell 55 of that 80 billion XRP to users and strategic partners. Ripple Labs also had a giveaway of under 200 million XRP (0.002% of all XRP) via World Community Grid that was later discontinued.[29] Ripple Labs will retain the remaining 25 billion"
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Frozenlock (OP)
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May 02, 2013, 08:27:04 AM |
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Fincen is not our friend!!
It's like saying the hungry lion running after us is not our friend... we know that! |
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smoothie
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LEALANA Bitcoin Grim Reaper
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May 02, 2013, 08:28:31 AM |
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Well I don't quite see it like that.
Put money in machine, acquire bitcoins.
Put money in machine, acquire gums/toys/cards/whatever.
Somehow one is different? Is it the ability to sell back to the machine that's the problem for US laws?
IT is the fact that bitcoin is behind the ATM. Not gum or candy. The powers that be dont want their monopoly on money to end. This idea of an ATM basically succumbs their control over capital controls and money/value leaving the US borders. |
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w00t
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May 02, 2013, 09:24:34 AM |
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Just a guy kicked out of the project
That's exactly what I thought. Those folks first thought hey we need this guy, then a few months passed and they realized that this guy it useless to them so they said him to f**k off. |
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BitPirate
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RMBTB.com: The secure BTC:CNY exchange. 0% fee!
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May 02, 2013, 10:03:01 AM |
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Looks like Jeff got a good deal too -- got plenty of media exposure out of it. TBH the bitcoin ATM website seemed to be more about him and his ventures than the ATM itself.
There were also several media articles where he was portrayed as the "founder" of Bitcoin ATM -- which clearly now is incorrect.
Anyway, the ATM is just a side-project. He is right that regulation presents an almost insurmountable obstacle. I don't see how this thing could ever end up in malls, etc. Perhaps it could be bought as an adjunct to a licensed exchange's business, for promotions or roadshows?
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flavius
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welcome to riches
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May 02, 2013, 10:14:40 AM |
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Actually a friend of mine is in San Diego and I had him test out the ATM. It's flawed, it lets you turn your bitcoin wallet into cash, so he entered a wallet of mine and 5 minutes later I had no bitcoins.
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Quote
crime generates tenfold more money then real businesses do in bitcoin. the fact you cant accept this just makes you a kike
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farfiman
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May 02, 2013, 10:18:25 AM |
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Actually a friend of mine is in San Diego and I had him test out the ATM. It's flawed, it lets you turn your bitcoin wallet into cash, so he entered a wallet of mine and 5 minutes later I had no bitcoins.
and no cash? |
"We are just fools. We insanely believe that we can replace one politician with another and something will really change. The ONLY possible way to achieve change is to change the very system of how government functions. Until we are prepared to do that, suck it up for your future belongs to the madness and corruption of politicians."
Martin Armstrong
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bitcon
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May 02, 2013, 11:18:04 AM |
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Actually a friend of mine is in San Diego and I had him test out the ATM. It's flawed, it lets you turn your bitcoin wallet into cash, so he entered a wallet of mine and 5 minutes later I had no bitcoins.
you're the one who gave him your [unencrypted] wallet. sounds like youre the one who's flawed. the machine did exactly what it was supposed to do. |
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