Bitcoin ATM: any news after San Diego?

[The Bitcoin Co-op]

The first Bitcoin ATM in the world will be placed in Canada, probably in downtown Vancouver somewhere.

You were damn right!

http://globalnews.ca/news/826309/bitcoin-kiosks-coming-to-canada-this-fall/

"Soon, Johnson and other Canadian Bitcoin enthusiasts will be able to exchange Canadian cash for the digital currency through a kiosk that’s similar to an ATM. Bitcoiniacs says it has ordered five Bitcoin kiosks from a Las Vegas-based company called RoboCoin and intends to roll them out across Canada in the coming months, with the first machine expected to land in Vancouver in early October. Four more kiosks will arrive in December and although their locations are not yet certain, Bitcoiniacs says it’s eyeing major Canadian cities such as Toronto, Montreal, Calgary and Ottawa."

Looking forward to seeing them in the news..

Being the Vancouver Meet Up/CoinFest guy gives you access to inside information, sometimes.  Too bad it doesn't pay well enough for me to invest based on that knowledge.

[The Bitcoin Catalog]

The first Bitcoin ATM in the world will be placed in Canada, probably in downtown Vancouver somewhere.

You were damn right!

http://globalnews.ca/news/826309/bitcoin-kiosks-coming-to-canada-this-fall/

"Soon, Johnson and other Canadian Bitcoin enthusiasts will be able to exchange Canadian cash for the digital currency through a kiosk that’s similar to an ATM. Bitcoiniacs says it has ordered five Bitcoin kiosks from a Las Vegas-based company called RoboCoin and intends to roll them out across Canada in the coming months, with the first machine expected to land in Vancouver in early October. Four more kiosks will arrive in December and although their locations are not yet certain, Bitcoiniacs says it’s eyeing major Canadian cities such as Toronto, Montreal, Calgary and Ottawa."

Looking forward to seeing them in the news..

Being the Vancouver Meet Up/CoinFest guy gives you access to inside information, sometimes.  Too bad it doesn't pay well enough for me to invest based on that knowledge.

Any ETD for the first one?

[The Bitcoin Co-op]

The first Bitcoin ATM in the world will be placed in Canada, probably in downtown Vancouver somewhere.

You were damn right!

http://globalnews.ca/news/826309/bitcoin-kiosks-coming-to-canada-this-fall/

"Soon, Johnson and other Canadian Bitcoin enthusiasts will be able to exchange Canadian cash for the digital currency through a kiosk that’s similar to an ATM. Bitcoiniacs says it has ordered five Bitcoin kiosks from a Las Vegas-based company called RoboCoin and intends to roll them out across Canada in the coming months, with the first machine expected to land in Vancouver in early October. Four more kiosks will arrive in December and although their locations are not yet certain, Bitcoiniacs says it’s eyeing major Canadian cities such as Toronto, Montreal, Calgary and Ottawa."

Looking forward to seeing them in the news..

Being the Vancouver Meet Up/CoinFest guy gives you access to inside information, sometimes.  Too bad it doesn't pay well enough for me to invest based on that knowledge.

Any ETD for the first one?

Mid October, could be delayed to late or end of October.

[kik1977]

The first Bitcoin ATM in the world will be placed in Canada, probably in downtown Vancouver somewhere.

You were damn right!

http://globalnews.ca/news/826309/bitcoin-kiosks-coming-to-canada-this-fall/

"Soon, Johnson and other Canadian Bitcoin enthusiasts will be able to exchange Canadian cash for the digital currency through a kiosk that’s similar to an ATM. Bitcoiniacs says it has ordered five Bitcoin kiosks from a Las Vegas-based company called RoboCoin and intends to roll them out across Canada in the coming months, with the first machine expected to land in Vancouver in early October. Four more kiosks will arrive in December and although their locations are not yet certain, Bitcoiniacs says it’s eyeing major Canadian cities such as Toronto, Montreal, Calgary and Ottawa."

Looking forward to seeing them in the news..

Being the Vancouver Meet Up/CoinFest guy gives you access to inside information, sometimes.  Too bad it doesn't pay well enough for me to invest based on that knowledge.

Any ETD for the first one?

Mid October, could be delayed to late or end of October.

Wow, pretty soon! Hope they will get a good media coverage..

[compro01]

Expected time to availability in my province : coincident with the Earth falling into the sun.

[kik1977]

Interesting article on the topic, seems we're finally getting there: http://www.business2community.com/infographics/bitcoin-atm-canada-infographic-0631903

Canada is revolutionizing its Bitcoin exchanging scene with five new simple, and yet so amazing, machines: the Bitcoin ATMs produced by the company Robocoin, based in Las Vegas. The devices will soon arrive in the country thanks to the action of the crypto-store Bitcoiniacs, a physical business located in Vancouver that works like a Bitcoin broker and already conquered dozens of clients. But what will change with the arrival of these machines? Well, we bet that a lot will be different from now on. Just the fact that you can use a simple machine to exchange your fiat currency for Bitcoins, and the other way around, is such an marvelous possibility that we bet something great will happen. Maybe even the generalization of the cryptocurrency’s use.
While the first machine is expected to land in Vancouver in early October, the rest of the devices should arrive in December to other major cities like Toronto, Montreal, Calgary and Ottawa. There are already several reports of local Bitcoiners excited about the news, mainly because, according to them, this makes it easier for people to buy and sell Bitcoins according to the current exchange rates.
Besides being super easy and safe to use one of these machines, you also won’t have to wait several days to verify your transaction, like it usually happens when operating through an online exchange. This makes Bitcoins more accessible to people and still adds that necessary element of legitimacy that will attract several new users, for sure. Robocoin says that the idea is to provide visibility to Bitcoins and add trust to the exchange process. That is why the kiosks will allow customers to quickly make a transaction using cash or a simple receipt with a QR code. To find out more about these amazing machines check out our infographic!

Read more at http://www.business2community.com/infographics/bitcoin-atm-canada-infographic-0631903#fRgF4Ooh1O5LuHol.99

[kik1977]

https://twitter.com/LamassuBTC/status/384296714305155073/photo/1

Promised a sexy pic, and here we are! We present to you #Bitcoin Machine #00001 - shipping out tomorrow. pic.twitter.com/0KF3hSD9yd

[kik1977]

http://www.prlog.org/12226215-bitcoin-atm-landing-in-uruguay.html

Uruguayan startup Moneero has quietly been designing and is now delivering a fleet of its own Bitcoin vending machines, the Moneero BTM. Partnered with an ATM industry veteran, Moneero developed and will produce Moneero BTMs at its partner's high capacity facility. The first Moneero BTMs will be installed in popular public locations in Montevideo and Punta del Este, Uruguay, before the end of this year. Moneero BTMs will also be deployed in seven different countries with its partners.

The Moneero BTM plays an integral role in Moneero's ecosystem where users can send bitcoins to 6.8 billion cellphones and share bitcoins with 1.5 billion social media accounts. Moneero BTMs can be configured to accept cash from virtually any country and allow users to load their Moneero accounts with bitcoins.

[Nagle]

https://twitter.com/LamassuBTC/status/384296714305155073/photo/1

Promised a sexy pic, and here we are! We present to you #Bitcoin Machine #00001 - shipping out tomorrow. pic.twitter.com/0KF3hSD9yd

That's just a vending machine, like ones that sell phone cards, fare cards, and such.  You can't put in Bitcoins and get currency out.

[Saman]

Hi,

let me quickly answer the questions that came up:


Is it a bitcoin vending machine?

yes, it is indeed a "vending" machine - any machine that spills out fiat cash for bitcoins will not reach wide distribution any time soon. The reason is the way Anti-Money-Laundering regulation are designed around the globe. If you take cash and give out something you are looking at the standard business operation - Goods out / Cash in - essentially every store on this planet works that way.

If you turn this operation around and give out cash to people - you have to do KYC (Know-Your-Client) and AML procedures in almost any jurisdiction in the world. The moment you have to do KYC/AML you can safely assume you are regulated and need a license. Or to be exact: you need many many licenses - one for each jurisdiction you operate in.

The challenges with being licensed or obtaining a license are in general:

• "You need to be a bank to become a bank" - In most jurisdictions it is impossible to fulfil the criteria to obtain a license if you don't already have proven years long record operating as a financial institution.
• Apart from some places you need to obtain a separate license for every single jurisdiction in the world (that's 48 licenses in the US alone)
• The licensing process is very costly and very slow - it usually takes many months if not years for the license to be granted. Legal advisors for the financial sector are among the best paid specialists, there are application fees and in most cases up to several millions have to be deposited with the regulating authority or central bank. Also: Maintaining the licenses isn't cheap - in most cases there are hefty annual fees to pay.
• In many (if not the most) jurisdiction obtaining a license is not even possible as the legal status of bitcoin has not yet been clarified. Which could mean that after going through all the pain of obtaining a license, it could turn out to be the wrong license or the given license can end up being revoked. (That's one of the reasons why so many banks shy away from working with bitcoin startups.)

I could go on, but you get the picture. No startup in the world will be able to overcome this hurdles anytime soon unless it has the financial power of someone like HSBC (to name a company that is fully licensed in many parts of the world).

In short: Any machine exchanging both ways has very few spots around the globe where it can go. And even those few spots are pending future regulation which might take this machines out of business at any time.

To the contrary: Selling Bitcoins is legal in most parts of the world. - So a "bitcoin vending machine" has by far better chances to reach wide distribution in a short amount of time.


Is it available?

Yes, we are taking orders and shipping. There is a caveat to this: This is not a buy-and-run-it-yourself piece of hardware. The BTM is a part of our product strategy to bring bitcoin out of the "geek-zone" and into the lives of ordinary people. As such it connects to our SMS and Social Network services and is also otherwise embedded in our eco-system. If a Moneero BTM doesn't work, has been setup illegally and gets seized or anything else bad happens - it falls back on Moneero. So in order to buy BTMs the buyer needs to partner with us and the vetting process can take a couple of weeks.

I hope this answers some of the questions - more information will be released in the days to come.

kind regards

Steven

[kik1977]

Thanks a lot Steven, very good to hear from you and looking forward to learning new details about your project!
Where are you planning to deliver the first machines? Are they shops, supermarket, etc.?

[Saman]

Where are you planning to deliver the first machines? Are they shops, supermarket, etc.?

Confirm locations in Uruguay are cinemas, hostels and a store. (That's probably more than the modest bitcoin demand in Uruguay will needat this time, but it's our backyard, so we go bold here ) - We have currently inquiries for 50-60 machines from 7 countries (Latam/Asia/Europe), but I can't yet comment on the exact type of location.

[kik1977]

Where are you planning to deliver the first machines? Are they shops, supermarket, etc.?

Confirm locations in Uruguay are cinemas, hostels and a store. (That's probably more than the modest bitcoin demand in Uruguay will needat this time, but it's our backyard, so we go bold here ) - We have currently inquiries for 50-60 machines from 7 countries (Latam/Asia/Europe), but I can't yet comment on the exact type of location.

Thank you very much for the news, please keep up posted with the final delivery of the first machines! Pictures!! Good luck!

[thallium205]

Here is some information on the Robocoin ATM heading up to Vancouver ->  http://blog.robocoinkiosk.com/2013/10/22/robocoin-is-en-route/

[kik1977]

Here is some information on the Robocoin ATM heading up to Vancouver ->  http://blog.robocoinkiosk.com/2013/10/22/robocoin-is-en-route/

Some more info: http://www.theverge.com/2013/10/26/5031132/canada-bitcoin-atm-bitcoiniacs-robocoin-vancouver

Quote:
After dumping the penny last year, Canada is taking another step towards the fiscal future with the launch of the world's first publicly-accessible Bitcoin ATM next Tuesday. As Wired reports, the landmark machine will be installed outside of a coffee house in downtown Vancouver, allowing members of the public to exchange their Canadian Dollars for Bitcoins, or vice versa.

Machines that exchange physical currency for Bitcoins have made quite a few appearances at industry shows and conferences, and there's more than one company attempting to put Bitcoin ATMs in public places. The machine to be installed in Vancouver this week comes from Nevada-based Robocoin. To comply with Canadian law, the machine will check your identity using palm prints, photographs, and ID verification, and will only allow for a maximum of CAD$3,000 (around $2,700) worth of transactions per user per day.

Bitcoiniacs, the company responsible for bringing the ATM to Vancouver, has purchased five of Robocoin's machines and hopes to launch the rest in "other locations throughout Canada" soon. Unlike the one-day-only appearance of a another ATM at a San Diego hotel, all of Bitcoiniacs' machines are intended to be permanent.

[The Bitcoin Co-op]

It will be here, soon. They contracted me to announce some stuff for them including a media event. You should come if you want to talk to reporters

[The Bitcoin Co-op]

It will be here, soon. They contracted me to announce some stuff for them including a media event. You should come if you want to talk to reporters

 https://bitcointalk.org/index.php?topic=270572.new#new

[ANiceJewishBoy]

Where are you planning to deliver the first machines? Are they shops, supermarket, etc.?

Confirm locations in Uruguay are cinemas, hostels and a store. (That's probably more than the modest bitcoin demand in Uruguay will needat this time, but it's our backyard, so we go bold here ) - We have currently inquiries for 50-60 machines from 7 countries (Latam/Asia/Europe), but I can't yet comment on the exact type of location.

This is great. Just like Red Box, no one will care at first. Then it will become something that every gas station owner in the world wants.

[kik1977]

Fisrt full ATM machine delivered, installed and now functioning.

http://www.wired.com/wiredenterprise/2013/10/bitcoin_atm_gallery/#slideid-92141

VANCOUVER, Canada — Meet the Robocoin: the world’s first bitcoin ATM. It went live last night, after an afternoon of tinkering and testing at the downtown cafe that’s now its home.

The Robocoin isn’t like other ATMs. It doesn’t take debit or credit cards. It’s a cash-only machine. You put your money in, and it gives you numbers — addresses that link to bitcoins, the world’s most popular digital currency. Or, if you already own some bitcoins, the machine can scan a QR code on your mobile phone and dispense cash.
The Nevada guys who built Robocoin tested it out at a San Jose, California, convention last May, but this is the first time they’ve installed one of their machines in a permanent fashion. It’s yet another sign that Bitcoin, created just over five years ago, is moving out of the realm of computer geeks and into the mainstream.

Bitcoin is a system controlled a network of machines spread across the internet. When you buy a bitcoin, you’re essentially buying cryptographically protected numbers that you can then move around using a global, peer-to-peer network of computers. It’s money, but it moves as easily as email.

Bitcoins sprung into the public spotlight as the default currency for The Silk Road, a online drug marketplace that was shut down earlier this month. But today, you can use bitcoins at a small but growing number of businesses. You can pay for a cab in San Francisco, or a pint of beer in London or a caffe macchiato here at the Waves Coffee House in Vancouver, where the first Robocoin is nestled right next to the coffee bar.

To the Canadian investors who bought this first Robocoin — three men who met in a high school and have since gone on to found a bitcoin trading store in Vancouver called Bitcoiniacs — Robocoin will let people to buy and sell bitcoins without going through some of the hoops that are required by Bitcoin exchanges. “The point of the store was to make it easier for everyone to buy bitcoins,” says Bitcoiniac co-founder Jackson Warren. “We saw the ATM as a way to expand the model of the store.”

(...)

Although the Robocoin user interface is still rough and not exactly easy to use, bitcoin’s supporters are excited about the machine. “I think it’s great for bitcoin because it increases access to bitcoin for the mainstream public,” says Patrick Murck, the lawyer for the Bitcoin Foundation, a nonprofit group that maintains the core bitcoin software and advocates for the digital currency. He expects to see bitcoin ATMs in the U.S. soon.

At around six p.m. Monday, a man named Jason Lamarche dropped by the coffee shop. He then waited patiently for more than three hours until the machine was fully ready to go, wanting to be the first to use it. He slid in a $20 bill, and in less than a minute, he had his tenth of a bitcoin, which he promptly used at the coffee bar to buy a steamed milk with vanilla (this Waves Coffee House accepts bitcoins). “It was amazing,” he said of the Robocoin. “It was super convenient. It was easy to use.”

Lamarche asked that we not mention the name of his employer, but he did tell us what he does for a living. He’s an account manager at a bank.

[kik1977]

Update on the topic, Europe wise: http://www.coindesk.com/startups-race-install-londons-first-bitcoin-atm/

Three companies are competing to install London’s first bitcoin ATM in the coming weeks.

The firms, all startups, are awaiting the delivery of their machines from manufacturers Robocoin and Lamassu. They say they have locations staked out, but are keeping schtum until they are ready to make an official public announcement.

The firm with the most ambitious plan is Global Bitcoin ATM Ltd. The bootstrapped startup plans to install five machines per month in the UK, starting in London. It eventually plans to install machines globally, according to its spokesperson, Terry James.

Global Bitcoin says it has a high street location somewhere in central London in mind for its first machine, a Robocoin unit, which it expects to receive and install in early February.

The Robocoin ATM is capable of two-way conversions between bitcoin and fiat currency, and includes a feature which can identify users via a biometric reader.

New business model

James’ firm has a unique take on the ATM operator business model. Instead of owning and operating the machines itself, it plans to operate the machines on behalf of their individual owners.

The firm maintains the machines and finds venues to install them. The owners pay Global Bitcoin ATM for the service on 24-month contracts. Thus, the firm acts as a service provider for a network of ATM owners.

James said his firm intends to use Robocoin machines for the time being, adding that the company is also joining the Bank to the Future incubator for bitcoin startups in London. The firm is bootstrapped and has no institutional funding at the moment.

The accidental operator

Another individual with designs on making history with London’s first cryptocurrency ATM is Joel Raziel. The boutique real estate developer is awaiting delivery of his Lamassu unit, which is also due in early February.

Having found a location in East London to install his ATM, Raziel is currently in the process of confirming it. He said he bought the machine – which costs about $5,000 – on a whim.

“This is completely out of the ordinary for me, it is very much an impulse buy. I’m kind of biting my nails over it.”

However, since CoinDesk spoke to him in early January, a spate of bitcoin ATM installations around the world have been announced. Raziel now thinks his ATM could be a viable business. ”I think there’s definitely commercial value to it and I’m sure it could turn a profit,” he said.

Neither Raziel nor Global Bitcoin ATM have said what they will charge customers who wish to use their machines. ATMs elsewhere, like Canada, for example, typically charge a 5% fee per transaction.

Satoshipoint enters the fray

The third player in London’s bitcoin ATM race is Satoshipoint Ltd. The firm’s co-founders are Hassan Khoshtaghaza and Jonathan ‘Jonny’ Harrison. The firm has two Robocoin machines on the way, but they’re lagging the competition with a delivery date scheduled for early March.

Satoshipoint will install its Robocoin ATMs at bureaus d’change on Oxford Street and in Notting Hill, both popular tourist destinations in Central London. Khoshtaghaza would not say exactly where the machines would be located, although he did say fees would be 3 to 5%.

Khoshtaghaza said the firm is planning to buy more machines if the first two prove to be popular.

The ATM operators contacted said there are currently no specific laws or regulations in place to govern bitcoin ATMs in the UK. However, Satoshipoint and Global Bitcoin ATM said they preferred Robocoin machines partly because of the units’ ‘Know Your Customer‘ features, which allow the operator to maintain a record of the machine’s transactions, along with identifying information.

Booming global ATM business

Bitcoin ATM installations have boomed in the last two months. Manufacturer Lamassu announced it had received its 100th order at the end of December, while three Canadian cities had their first bitcoin ATMs installed last week.

Attracted by the opportunities emerging in the space, new manufacturers, from open-source projects like Skyhook ATM, to firms planning to scale globally like Ottawa’s Bit Access, have entered the space.

The first bitcoin ATM was installed in Vancouver at the end of October. That Robocoin unit reportedly accepted more than CA$1m in deposits in its first 29 days of operation, putting the business in the spotlight.