[Ver 2.0] R14x: Intl. Robocoin GB ATM Launch in EU, N America, Feb '14. PMs only

[akeetlebeetle]

- 300% ROI is Guaranteed within 2 years, after which the ownership of the machine reverts back to us.


This is not going to sit well with many. Can you please explain why you are doing this?

Legal hot water. We understood that the new terms may upset some people. As miners just like you, it would actually have been our preference to give you straight ownership for the life of this, but our hands are tied at the moment.

However, this is a guaranteed triple payout on ROI in two years or less.

Is there any chance that this will change at a later date once more legal decisions get worked out? Also, will the German ATM will be installed before the Amsterdam one, or is the German ATM included in the April-June window?

There may be changes...as legal advice becomes more clear and laws/policies come to fruition. We will be giving a no restock fee refund option if the terms have to change yet again. There may be minor tweaks to the wording but the details of this compensation just listed is to be considered as binding and in place as the structure and language we will be using for the foreseeable future. As in: if you buy in now, you should expect a 300% ROI within 2 years or less.

We're more than willing to raise awareness so that local governing bodies can stimulate economic growth by adopting Bitcoin. We would have preferred to have given you outright partial ownership, but to do this at this point could get us in big trouble and stop us in our tracks.

My promise to you: If it becomes legally feasible for this US based Corporation to give Group Buyers outright partial ownership in the near future then we will go down that path immediately (and any funds already spent backing this launch would be applied to this, if possible).

Can you go down the path of say Asicminer and others where you're not "really" selling shares in the ATM, but rather simulated shares that you deal with on the back end? Eg., you're the sole owner and you distribute the funds to the "shareholders?" That would seem like the best course of action.

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[entreprenr]

Do I understand this correctly?

If I put in 6 BTC (approx. $1200) now. And the price of Bitcoin rises to $1000 within 2 years, that means you may only pay back 3.6 BTC (which would then be $3600, aka 300% ROI in USD)? This way I would lose 2.4 BTC..

This would mean that if Bitcoin itself rises more than 300% within 2 years, I might lose BTC due to this investment.

Sorry, but you should NOT promise the ROI in USD...

(and how come you are saying this now after having already received investment for the first ATM?)

[btcapparel]

Im interested in a few shares, will decide on cities and make a order

Wanted to throw a middle eastern country in the ring...maybe Dubai or Abu Dhabi? Plenty of oil money floating around and very safe in terms of security/insurance costs etc

Im looking into Oman right now, have friends who are getting the information for me.

Awesome!! One or two of these guys would help get ROI pretty quick http://www.youtube.com/watch?v=G8-QkQpIj-8

[markj113]

Do I understand this correctly?

If I put in 6 BTC (approx. $1200) now. And the price of Bitcoin rises to $1000 within 2 years, that means you may only pay back 3.6 BTC (which would then be $3600, aka 300% ROI in USD)? This way I would lose 2.4 BTC..

This would mean that if Bitcoin itself rises more than 300% within 2 years, I might lose BTC due to this investment.

Sorry, but you should NOT promise the ROI in USD...

(and how come you are saying this now after having already received investment for the first ATM?)

Dont think its that simple as payments are made fortnightly by bitcoin so will fluctuate with bitcoin value.

[entreprenr]

Do I understand this correctly?

If I put in 6 BTC (approx. $1200) now. And the price of Bitcoin rises to $1000 within 2 years, that means you may only pay back 3.6 BTC (which would then be $3600, aka 300% ROI in USD)? This way I would lose 2.4 BTC..

This would mean that if Bitcoin itself rises more than 300% within 2 years, I might lose BTC due to this investment.

Sorry, but you should NOT promise the ROI in USD...

(and how come you are saying this now after having already received investment for the first ATM?)

Dont think its that simple as payments are made fortnightly by bitcoin so will fluctuate with bitcoin value.

Yeah I know but the ROI of 300% is not "guaranteed" this way, it's still possible to lose BTC on this investment if Bitcoin goes way up.

[BtcBling]

Im interested in, actually would be interested in buy share of all possible ATMs, but however im not in for fast roi or 300% guaranteed return. I would like to be in for long term steady income and now with these new terms it seems impossible as payments will stop after x time.

If US laws makes it impossible to offer contracts / shares which continue, you can sure set up bahama / panama etc. IBC or equivalent which is owned buy your new llc and still pay all taxes etc., but offer also permanent shares as most of people might be looking for. Maybe makes things a bit more complicated, good lawyer can help to do this easily and also make sure that all applicable laws will be honored.

Just my two satoshis. Please consider.

[markj113]

If US laws makes it impossible to offer contracts / shares which continue, you can sure set up bahama / panama etc. IBC or equivalent which is owned buy your new llc and still pay all taxes etc., but offer also permanent shares as most of people might be looking for. Maybe makes things a bit more complicated, good lawyer can help to do this easily and also make sure that all applicable laws will be honored.

Just my two satoshis. Please consider.

Agree with the above,

Also who guarantees the 300% return, if bitcoin were made illegal tomorrow with all ATM's seized who would be responsible for the reimbursement?

[chrono]

3rd time asking, why have i not received a confirmation email for my share. Ive checked blockchain and it went through.

On the site it says processing??

Anyone else not get confirmation email?

[BTC-Market]

Why only 2 years? This comes as a bit of a surprise.

[markj113]

3rd time asking, why have i not received a confirmation email for my share. Ive checked blockchain and it went through.

On the site it says processing??

Anyone else not get confirmation email?

No confirmation here either, shows in my account as processing.

[markj113]

Why only 2 years? This comes as a bit of a surprise.

A bit disappointed here too with the updated terms and conditons, you would think in 2 years time Bitcoin would be more mainstream and popular than ever hence more turnover at the ATM's give us a greater return.

Kind of works opposite of a miner where returns diminish over time, the ATM's return should grow over time.

[digitalfog]

+1

Im interested in, actually would be interested in buy share of all possible ATMs, but however im not in for fast roi or 300% guaranteed return. I would like to be in for long term steady income and now with these new terms it seems impossible as payments will stop after x time.

If US laws makes it impossible to offer contracts / shares which continue, you can sure set up bahama / panama etc. IBC or equivalent which is owned buy your new llc and still pay all taxes etc., but offer also permanent shares as most of people might be looking for. Maybe makes things a bit more complicated, good lawyer can help to do this easily and also make sure that all applicable laws will be honored.

Just my two satoshis. Please consider.

[bbxx]

Why only 2 years? This comes as a bit of a surprise.

A bit disappointed here too with the updated terms and conditons, you would think in 2 years time Bitcoin would be more mainstream and popular than ever hence more turnover at the ATM's give us a greater return.

Kind of works opposite of a miner where returns diminish over time, the ATM's return should grow over time.

Lifespan of atm is about 5-15 years with maintance and upgrades.
Your offer is only 2 years...
We are funding very expensive money makers for you.

[Hili]

3rd time asking, why have i not received a confirmation email for my share. Ive checked blockchain and it went through.

On the site it says processing??

Anyone else not get confirmation email?

No confirmation here either, shows in my account as processing.

As I understand it: if it says on-hold that means that the site has yet to detect your payment. Processing means your payment has been received but it needs to be reviewed/handled by staff manually (have you entered your payment address?). Completed means everything is ok.


I'm also not to keen on the time limit here. Also, a guaranteed 300% ROI is very nice... Unless bitcoin is worth more than 300% of its current value when two years have passed, which I think will be true. I am considering pulling out. I would very much like to be part of this, unless it means never reaching ROI in BTC.

[Thyatis]

The best way to handle this is to create a business either per atm. The LLC would own the ATM and then the shareholders would be the group buy members and get paid dividends.

It is obviously easier to have less members of the goup buy.

[chrono]

3rd time asking, why have i not received a confirmation email for my share. Ive checked blockchain and it went through.

On the site it says processing??

Anyone else not get confirmation email?

No confirmation here either, shows in my account as processing.

As I understand it: if it says on-hold that means that the site has yet to detect your payment. Processing means your payment has been received but it needs to be reviewed/handled by staff manually (have you entered your payment address?). Completed means everything is ok.


I'm also not to keen on the time limit here. Also, a guaranteed 300% ROI is very nice... Unless bitcoin is worth more than 300% of its current value when two years have passed, which I think will be true. I am considering pulling out. I would very much like to be part of this, unless it means never reaching ROI in BTC.

cheers for reply. i think you are right about the process.

im not to sure if its worth it. i kind of wanted to be part of the ATM thing u know, get more ATMs out there, but also diversify my investments a bit.

imo holding BTC might actually be better for investment but again you can never be to sure.

[markj113]

considering dropping out too 

[floatyfish]

Honestly, the way I read it was that payments wouldn't stop once the ROI hit 300%, just that it was a guaranteed ROI of 300% over 2 years. So theoretically, depending on how popular these are, we could get a 300% ROI in a year or less, and payments would continue until that 2 year period was up.

With that being said, I am curious to see how they react to people who are unhappy about these terms. Here's hoping for the best.

[chrono]

Honestly, the way I read it was that payments wouldn't stop once the ROI hit 300%, just that it was a guaranteed ROI of 300% over 2 years. So theoretically, depending on how popular these are, we could get a 300% ROI in a year or less, and payments would continue until that 2 year period was up.

With that being said, I am curious to see how they react to people who are unhappy about these terms. Here's hoping for the best.

yep sort of locked it now. hopefully its a nice ride.

[thomas_s]

Refunds will be processed later tonight (lunch break not able to do them if we even have any more than the two requested late last night)

don't hold me to this but I'm in the process of talking with RoboCoin to see how exactly the fee's are generated (either in BTC or in fiat) from the talks its looking like its a mixture of both, we MAY be able to amend the payments based on this. But at this time I'm unsure. On another little side note if we promise to pay 3 times in BTC and BTC drops we can technically buy you out.

We've selected the list of cities / areas based on what we've been told could possibly work based on the environment of the location.

We are open to suggestions on how you would like to see compensation however giving ownership of the ATM to each person could run into problems later, maybe a higher return + longer time period, if we can offer partial ownership we will.

And this is a business so if we go the way of tripling your BTC invested (or tripling what you invested) and then that goes down to a point where the business can buy you out in full by tripling your investment in a payout it comes back to us. But give us suggestions were all ears.

Honestly, the way I read it was that payments wouldn't stop once the ROI hit 300%, just that it was a guaranteed ROI of 300% over 2 years. So theoretically, depending on how popular these are, we could get a 300% ROI in a year or less, and payments would continue until that 2 year period was up.

With that being said, I am curious to see how they react to people who are unhappy about these terms. Here's hoping for the best.

For those that don't want to participate anymore a full refund will be issued.

The way we currently have the terms set up is you will get triple your investment ($123) within 2 years. After you get triple your $123's ($369) the ownership of the ATM belongs to the company.