2013-06-30 Want To Get Bitcoins? This ATM Will Turn Your Banknotes Into Bitcoins

[austins]

http://techcrunch.com/2013/07/02/bitcoin-atm/

Startup Lamassu Bitcoin Ventures is aiming to simplify the process with its Bitcoin ATM machine (left). It’s showing off a prototype of its tablettop-sized ATM at the Bitcoin London conference taking place today. Its snappy tagline is ‘fiat to Bitcoin in 15 seconds’  – and in keeping with that promise the process is designed to be as simple as possible. And simplicity means accepting cash only — no card payments — to avoid having to deal with banks, says co-founder Zach Harvey.

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[kjlimo]

Anyone have any thoughts about operating one of these in the states?

1) It looks small enough to pick up & run off with

2) Regulatory....

[Bitcopia]

Anyone have any thoughts about operating one of these in the states?

1) It looks small enough to pick up & run off with

2) Regulatory....

1)Yep, it sure does.

2) This is obviously non-compliant, and the creators have structured a revenue model around the hardware so that they don't have to worry about it. I imagine the idea is to set it up in a small local shop and hope no regulator ever notices. However, getting a small store owner to pay $4 - 5k for one and asking them not to make too much publicity about it because its not legal sounds like a tough sell to me.

I think they will have much better luck abroad.

[LevLion]

 

[cbeast]

The US economy will be left in the dust when these hit the global market.

[kjlimo]

Anyone have any thoughts about operating one of these in the states?

1) It looks small enough to pick up & run off with

2) Regulatory....

1)Yep, it sure does.

2) This is obviously non-compliant, and the creators have structured a revenue model around the hardware so that they don't have to worry about it. I imagine the idea is to set it up in a small local shop and hope no regulator ever notices. However, getting a small store owner to pay $4 - 5k for one and asking them not to make too much publicity about it because its not legal sounds like a tough sell to me.

I think they will have much better luck abroad.

Yeah, that's why I'm more interested in the other Bitcoin ATM project.

[LevLion]

Should be called the Dollar Crasher perhaps?

[bitfromit]

This has got to be pretty high up on the list of worst nightmares for The State.

The Instant Fiat Obsolescence Device. US will have to stamp this out, elsewhere I see a brighter future for all the ATM style machines in general.