World’s first Bitcoin ATM sees 81 exchanges, $10,000 in transactions

[StarfishPrime]

C'mon let's not rain on robocoin's parade by letting this thread denigrate into yet another ripple smackdown.

There is one very simple reason that any vc or marketing specialist will understand, why ripple can never succeed (at least in its current form):

It has no elevator pitch.

And probably can never have one due to its inherent complexity.

[1713997247]

1713997247

[bitcoinanon]

This is pretty cool. I do not think the palm scanner is necessary. Silly Canadian financial regulations..

[EccLipSe]

who cares? who needs?

[StarfishPrime]

who cares? who needs?

Apparently someone does - with almost $40,000 transacted in two days!

[notme]

One of the comments in the forbes article brought up a very good point.  Put these ATMs in or near international airports for quick and easy transfer to national currency.

This x21000000

[notme]

C'mon let's not rain on robocoin's parade by letting this thread denigrate into yet another ripple smackdown.

There is one very simple reason that any vc or marketing specialist will understand, why ripple can never succeed (at least in its current form):

It has no elevator pitch.

And probably can never have one due to its inherent complexity.

Elevator pitches aren't for explaining the details.  They are for grabbing someone's attention if you happen to get lucky and be in an elevator with them for 10 seconds.

Bitcion can allow you to beat WU on fees and speed for international money transmission.

Bitcoin can not be seized to bail out bankers who made bad decisions.

etc.

If your hook grabs them, let them lead with their questions.

[jawnzer]

Well, living in Calgary, I am interested to see where they're going to be placing it in the city. I haven't been able to find any information regarding this, but last time I checked was about a week ago.

Would be a great investment for sure.

This is pretty cool. I do not think the palm scanner is necessary. Silly Canadian financial regulations..

IIRC they weren't required to, but they did it for security down the line.

[solex]

Well, living in Calgary, I am interested to see where they're going to be placing it in the city. I haven't been able to find any information regarding this, but last time I checked was about a week ago.

Would be a great investment for sure.

This is pretty cool. I do not think the palm scanner is necessary. Silly Canadian financial regulations..

IIRC they weren't required to, but they did it for security down the line.

The palm scans are not stored with any personal info, they are just checked in the machine to ensure that the same person does not exchange more than $3000 per day.

[jawnzer]

Well, living in Calgary, I am interested to see where they're going to be placing it in the city. I haven't been able to find any information regarding this, but last time I checked was about a week ago.

Would be a great investment for sure.

This is pretty cool. I do not think the palm scanner is necessary. Silly Canadian financial regulations..

IIRC they weren't required to, but they did it for security down the line.

The palm scans are not stored with any personal info, they are just checked in the machine to ensure that the same person does not exchange more than $3000 per day.

Ahh yes, forgot that part. Thank you.

[Korporal]

Street cash from Welly Wednesday on the DTES safely tucked away. lol
They can't use banks.

Locals would know what I'm sayin

[StarfishPrime]

C'mon let's not rain on robocoin's parade by letting this thread denigrate into yet another ripple smackdown.

There is one very simple reason that any vc or marketing specialist will understand, why ripple can never succeed (at least in its current form):

It has no elevator pitch.

And probably can never have one due to its inherent complexity.

Elevator pitches aren't for explaining the details.  They are for grabbing someone's attention if you happen to get lucky and be in an elevator with them for 10 seconds.

...

Yup. That's exactly why ripple can never succeed in its current form. No ripple employee (or fanboy) to date has been able to succinctly explain what it is.

programmers != vcs

[freedomno1]

Well, living in Calgary, I am interested to see where they're going to be placing it in the city. I haven't been able to find any information regarding this, but last time I checked was about a week ago.

Would be a great investment for sure.

This is pretty cool. I do not think the palm scanner is necessary. Silly Canadian financial regulations..

IIRC they weren't required to, but they did it for security down the line.

Will be interested to see where they put it in Calgary, haven't had a Calgary Bitcoins meetup in a while

[solex]

Are there any publicly available stats on how much turnover the Vancouver ATM is doing...?

[freedomno1]

Are there any publicly available stats on how much turnover the Vancouver ATM is doing...?

Not that I know of the best you can do is infer from the amount of bitcoins traded on cavirtex and determine that the amount is less than that total lol

[420]

Well I hope they don't make a hand-print registry that said I may use it if it comes near our city if the price spikes XD
3% or not volatility is bigger on some days XD

Well, living in Calgary, I am interested to see where they're going to be placing it in the city. I haven't been able to find any information regarding this, but last time I checked was about a week ago.

Would be a great investment for sure.

This is pretty cool. I do not think the palm scanner is necessary. Silly Canadian financial regulations..

IIRC they weren't required to, but they did it for security down the line.

The palm scans are not stored with any personal info, they are just checked in the machine to ensure that the same person does not exchange more than $3000 per day.

it would be nice if we could see the code and that if it flushes the biometric memory every 24hrs or when the entry is 24hrs old

[exstasie]

Well, living in Calgary, I am interested to see where they're going to be placing it in the city. I haven't been able to find any information regarding this, but last time I checked was about a week ago.

Would be a great investment for sure.

This is pretty cool. I do not think the palm scanner is necessary. Silly Canadian financial regulations..

IIRC they weren't required to, but they did it for security down the line.

The palm scans are not stored with any personal info, they are just checked in the machine to ensure that the same person does not exchange more than $3000 per day.

And what's the point of no allowing more than $3000 a day?  Is it to ensure that someone insn't taking advantage somehow?  I know in Canada, Bitcoins do not quality under the Money Laundering Act & Terrorist Financing so there isn't really a need to limit the amount of money transferred as it does not have to be reported to FINTRAC (Canada's regulated entity to deal with the Proceeds of Crime and Terrorist Financing Act).

They could do like other companies in Canada and use Cellphone numbers to regulate instead.  Other companies require you to enter a legit cellphone number from a Canadian carrier only (No burners allowed) and will only allow certain number of transactions.  Yes, if you have multiple numbers you can do the limit many times, but if you really wanted to you could pay randoms $5 (or $5 in drugs - lots of homeless in Vancouver) to use their hands to do more transactions.

I'm not a big fan of any biometrics related stuff.

[marcus_of_augustus]

I saw the screenshots for the administrator s/ware tool for the ATM had a digital photo of the user next to the palm scan so it is a little more complicated than you might think .... it would be good for them to come out and say what their policies are for minining that personal (financial) data and/or regular destruction ... since they only need it for 24 hours is the claim.