[2018-03-01] Australia Sets Up Buying BTC and ETH Over the Counter at 1,200 News

[Dany44]

At 1,200 newsagents across Australia, people will be able to purchase Bitcoin and Ethereum over the counter. All that is needed to buy the digital currencies is cash, a phone number and an email address.

The full article: https://cryptocomes.com/australia-sets-buying-btc-and-eth-over-counter-1200-newsagents

[1714008530]

1714008530

[aso118]

At 1,200 newsagents across Australia, people will be able to purchase Bitcoin and Ethereum over the counter. All that is needed to buy the digital currencies is cash, a phone number and an email address.

The full article: https://cryptocomes.com/australia-sets-buying-btc-and-eth-over-counter-1200-newsagents

If it truly were over the counter, why would you need to provide an email address and a phone number? It kind of takes away the very essence of purchasing cryptocurrency in person. I think that the best way to sell bitcoin is through ATMs, without any requirement for verification (for small amounts). For larger amounts, it is acceptable to have verification, to prevent money laundering.

[gentlemand]

Things like this have come and gone multiple times over the years. There was Zipzap or something in 2014 which let you buy BTC vouchers from the same terminals you'd buy PAYG electricity. They never seem to last very long. They're using networks that are far more interested in keeping banks happy.

[Harlot]

If it truly were over the counter, why would you need to provide an email address and a phone number? It kind of takes away the very essence of purchasing cryptocurrency in person. I think that the best way to sell bitcoin is through ATMs, without any requirement for verification (for small amounts). For larger amounts, it is acceptable to have verification, to prevent money laundering.

Why are you even against it? It is not some form of drugs were you don't need to be identified to be able to purchase drugs over the counter? Anonymity is something we need to sacrifice in order for mass adoption to take place. Even I think wothout it Bitcoin's main features as a payment method won't be affected.

And if you are thinking of exempting Bitcoin purchases without verification for small amounts then what the criminals would do is to buy Bitcoin in tranches which they will do to take advantage of the exemption for small Bitcoin purchases.

[BitcoinGuruOne]

Do not see much of innovation or value in this but overall this is something positive.
Because any activity which spreads the word and builds trust to cryptos in my mind is positive activity.

[superjeyy]

If it truly were over the counter, why would you need to provide an email address and a phone number? It kind of takes away the very essence of purchasing cryptocurrency in person. I think that the best way to sell bitcoin is through ATMs, without any requirement for verification (for small amounts). For larger amounts, it is acceptable to have verification, to prevent money laundering.

Why are you even against it? It is not some form of drugs were you don't need to be identified to be able to purchase drugs over the counter? Anonymity is something we need to sacrifice in order for mass adoption to take place. Even I think wothout it Bitcoin's main features as a payment method won't be affected.

And if you are thinking of exempting Bitcoin purchases without verification for small amounts then what the criminals would do is to buy Bitcoin in tranches which they will do to take advantage of the exemption for small Bitcoin purchases.

I agree with Harlot. Looking at the situation in Australia, it seems that their action of making BTC and ETH available OTC is an initiative towards mass awareness and adoption; and for this to be successful, compromises such as giving up anonymity must be made. I mean there is nothing wrong with sharing information for the sake of confirmation. If your intention with your Bitcoin involves something that is inappropriate or illegal then, that's when you worry about these requirements. Giving up your identity may defeat the purpose of Bitcoin anonymity, but in order for development in its adoption to occur, certain features really needs to be compromised.

[CryptoBry]

If it truly were over the counter, why would you need to provide an email address and a phone number? It kind of takes away the very essence of purchasing cryptocurrency in person. I think that the best way to sell bitcoin is through ATMs, without any requirement for verification (for small amounts). For larger amounts, it is acceptable to have verification, to prevent money laundering.

Why are you even against it? It is not some form of drugs were you don't need to be identified to be able to purchase drugs over the counter? Anonymity is something we need to sacrifice in order for mass adoption to take place. Even I think wothout it Bitcoin's main features as a payment method won't be affected.

And if you are thinking of exempting Bitcoin purchases without verification for small amounts then what the criminals would do is to buy Bitcoin in tranches which they will do to take advantage of the exemption for small Bitcoin purchases.

With the way things are going, it would be impossible to impose our mindset on government and their will to regulate something that they know they can't totally control. I know that regulations can be affecting the ideal decentralization and anonymity we all desire but we can never get away from the government so it is either we work with the government and its regulations or face the situation like what China did last year. Sadly, we don't live in an island and in the global village we are in right now without laws to follow everything would be a chaos. We live in a world of compromise and any inconvenience we might experience for the sake of letting cryptocurrency flourish can be nothing when we get the benefits we should have. We need tougher regulations against people who are using cryptocurrency as the launching pad for their evil intentions without sacrificing the legitimate needs of the common guys like you and me. 

[Kakmakr]

At 1,200 newsagents across Australia, people will be able to purchase Bitcoin and Ethereum over the counter. All that is needed to buy the digital currencies is cash, a phone number and an email address.

The full article: https://cryptocomes.com/australia-sets-buying-btc-and-eth-over-counter-1200-newsagents

If it truly were over the counter, why would you need to provide an email address and a phone number? It kind of takes away the very essence of purchasing cryptocurrency in person. I think that the best way to sell bitcoin is through ATMs, without any requirement for verification (for small amounts). For larger amounts, it is acceptable to have verification, to prevent money laundering.

They would not be able to offer that service, without these AML/KYC requirements. You have to remember the government needs to have control or they will shut you down.

Nothing stops you from pushing those coins through some "mixer" and doing what you want with those coins. It just helps them to identify people who are moving large amounts of fiat into Bitcoin.

How many people can get access to hacked email accounts and stolen phones?

[serjent05]

Do not see much of innovation or value in this but overall this is something positive.
Because any activity which spreads the word and builds trust to cryptos in my mind is positive activity.

Anything that promotes cryptocurrency is always positive in the market.  Though the method is not perfect, it is still a good start to have the government allowed such transaction.  Many governments does not encourage such action, instead they warn people against cryptocurrency.  It was like, the government does not want his citizen to experience the difference between cryptocurrency stuff and the traditional banking system.  Probably they are afraid of something. And overall I hope those who are hesitating see Australia's move and be inspired by it.

[Cryptoprimes]

Do not see much of innovation or value in this but overall this is something positive.
Because any activity which spreads the word and builds trust to cryptos in my mind is positive activity.

Anything that promotes cryptocurrency is always positive in the market.  Though the method is not perfect, it is still a good start to have the government allowed such transaction.  Many governments does not encourage such action, instead they warn people against cryptocurrency.  It was like, the government does not want his citizen to experience the difference between cryptocurrency stuff and the traditional banking system.  Probably they are afraid of something. And overall I hope those who are hesitating see Australia's move and be inspired by it.

Don't you think that government encourage contradicts with crypto paradigm at all? I mean that crypto was invented to avoid government regulation. I can be wrong.