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grumpy619
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January 08, 2014, 07:34:59 PM
 #1

Hello everyone I was hoping that someone that is much smarter then me can answer what I've been pondering. I'm getting interested in Bitcoin ATM's its reported that there is one in Vancouver Canada that has processed up to $100000. Now I know it would help the Bitcoin market. Would it be a good idea to find investors purchase these machines and put them in major cities? Like say Mt View California, San Francisco, San Diego. This would help make it easier to buy and sell bitcoins at a moments notice. 



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January 08, 2014, 07:52:53 PM
 #2

If you take a look around there are dozens and dozens of Bitcoin ATMs all over the world.
There definitely is a lot of demand for these ATMs, however I think there might be some regulation issues for getting them out in certain countries.

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January 08, 2014, 08:16:45 PM
 #3

Hello everyone I was hoping that someone that is much smarter then me can answer what I've been pondering. I'm getting interested in Bitcoin ATM's its reported that there is one in Vancouver Canada that has processed up to $100000. Now I know it would help the Bitcoin market. Would it be a good idea to find investors purchase these machines and put them in major cities? Like say Mt View California, San Francisco, San Diego. This would help make it easier to buy and sell bitcoins at a moments notice. 

There are HUGE regulation hurtles in the US...not really worth it unless you have a few hundred thousand lying around. As you need a license for each state and they are all different. about 1.5-2 million for all 48 states
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January 08, 2014, 08:18:20 PM
 #4

Here's a short article that gives a quick overview of US regulation in contrast to the Vancouver Btc ATM

http://qz.com/141197/bitcoins-new-atm-may-signal-the-digital-currencys-retreat-from-the-us/
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January 08, 2014, 08:23:30 PM
Last edit: January 08, 2014, 08:36:02 PM by AmericanBit
 #5

Exactly, they're our fucking ATMs and we cant even use them...FUCK this place...Free my ass
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January 08, 2014, 08:24:23 PM
 #6

Hello everyone I was hoping that someone that is much smarter then me can answer what I've been pondering. I'm getting interested in Bitcoin ATM's its reported that there is one in Vancouver Canada that has processed up to $100000. Now I know it would help the Bitcoin market. Would it be a good idea to find investors purchase these machines and put them in major cities? Like say Mt View California, San Francisco, San Diego. This would help make it easier to buy and sell bitcoins at a moments notice. 

Maybe, but how long would it take for you to see a profit of all your tiny commissions? They would probably be a good draw for someone who owned an existing business, but not sure how viable it is as money-maker.

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shawshankinmate37927
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January 08, 2014, 09:02:54 PM
 #7

Hello everyone I was hoping that someone that is much smarter then me can answer what I've been pondering. I'm getting interested in Bitcoin ATM's its reported that there is one in Vancouver Canada that has processed up to $100000. Now I know it would help the Bitcoin market. Would it be a good idea to find investors purchase these machines and put them in major cities? Like say Mt View California, San Francisco, San Diego. This would help make it easier to buy and sell bitcoins at a moments notice. 

I'm assuming there would be fewer regulatory hurdles in Canada and Mexico.  If so, it would probably be better to locate them in towns that border the US and design the ATMs located in Mexico to accept US dollars as well as Mexican pesos and have the ATMs located in Canada accept US dollars and Canadian dollars so that Americans would be able to cross the border and change their fiat to BTC with a little more privacy.

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."   - Henry Ford
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January 08, 2014, 09:09:55 PM
 #8

Hello everyone I was hoping that someone that is much smarter then me can answer what I've been pondering. I'm getting interested in Bitcoin ATM's its reported that there is one in Vancouver Canada that has processed up to $100000. Now I know it would help the Bitcoin market. Would it be a good idea to find investors purchase these machines and put them in major cities? Like say Mt View California, San Francisco, San Diego. This would help make it easier to buy and sell bitcoins at a moments notice. 

I'm assuming there would be fewer regulatory hurdles in Canada and Mexico.  If so, it would probably be better to locate them in towns that border the US and design the ATMs located in Mexico to accept US dollars as well as Mexican pesos and have the ATMs located in Canada accept US dollars and Canadian dollars so that Americans would be able to cross the border and change their fiat to BTC with a little more privacy.

hahaha that atm would be ripped out of the the ground in 10 minutes in Mexico. Or to go along with your avatar, "That ATM would up and vanish like a fart in the wind!" And Canada...whats the point. Who will load and unload it...the margins are very small on bitcoin transactions, thats the point. You would have to do everything yourself to turn a decent profit
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January 08, 2014, 09:12:36 PM
 #9

Hello everyone I was hoping that someone that is much smarter then me can answer what I've been pondering. I'm getting interested in Bitcoin ATM's its reported that there is one in Vancouver Canada that has processed up to $100000. Now I know it would help the Bitcoin market. Would it be a good idea to find investors purchase these machines and put them in major cities? Like say Mt View California, San Francisco, San Diego. This would help make it easier to buy and sell bitcoins at a moments notice. 

Maybe, but how long would it take for you to see a profit of all your tiny commissions? They would probably be a good draw for someone who owned an existing business, but not sure how viable it is as money-maker.

Apparently, the Robocoin ATM in Vancouver broke even after 17 days:

http://www.coindesk.com/robocoin-bitcoin-atm-cad1m-29-days/

Quote
On the machine’s first day at the coffee shop, it processed CA$10,000 in 81 transactions. It then broke Robocoin’s first-month goal of CA$50,000 by reaching a volume of CA$81,000 after just a week. By day 17, the machine had broken even for its operators.

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."   - Henry Ford
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January 08, 2014, 09:18:13 PM
 #10

I'm assuming there would be fewer regulatory hurdles in Canada and Mexico.  If so, it would probably be better to locate them in towns that border the US and design the ATMs located in Mexico to accept US dollars as well as Mexican pesos and have the ATMs located in Canada accept US dollars and Canadian dollars so that Americans would be able to cross the border and change their fiat to BTC with a little more privacy.

hahaha that atm would be ripped out of the the ground in 10 minutes in Mexico. Or to go along with your avatar, "That ATM would up and vanish like a fart in the wind!" And Canada...whats the point. Who will load and unload it...the margins are very small on bitcoin transactions, thats the point. You would have to do everything yourself to turn a decent profit

I'm assuming there are ATMs in Mexico now that are secure.  I wouldn't know, I'm no expert on ATMs, but would probably be best to locate it inside a business, like the one in Vancouver.

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."   - Henry Ford
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January 08, 2014, 09:26:45 PM
 #11

I'm assuming there would be fewer regulatory hurdles in Canada and Mexico.  If so, it would probably be better to locate them in towns that border the US and design the ATMs located in Mexico to accept US dollars as well as Mexican pesos and have the ATMs located in Canada accept US dollars and Canadian dollars so that Americans would be able to cross the border and change their fiat to BTC with a little more privacy.

hahaha that atm would be ripped out of the the ground in 10 minutes in Mexico. Or to go along with your avatar, "That ATM would up and vanish like a fart in the wind!" And Canada...whats the point. Who will load and unload it...the margins are very small on bitcoin transactions, thats the point. You would have to do everything yourself to turn a decent profit

I'm assuming there are ATMs in Mexico now that are secure.  I wouldn't know, I'm no expert on ATMs, but would probably be best to locate it inside a business, like the one in Vancouver.

Right of course...and who would refill it? You just contact a Mexican merchant and give him access to your machine? Mexicans are dirt poor, and people who travel to mexico dont go anywhere near the borders or get out of their cars near borders...not americans anyway. There is no way to have a bitcoin ATM and not operate it yourself. No way
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January 08, 2014, 09:58:39 PM
 #12

I'm assuming there are ATMs in Mexico now that are secure.  I wouldn't know, I'm no expert on ATMs, but would probably be best to locate it inside a business, like the one in Vancouver.

Right of course...and who would refill it? You just contact a Mexican merchant and give him access to your machine? Mexicans are dirt poor, and people who travel to mexico dont go anywhere near the borders or get out of their cars near borders...not americans anyway. There is no way to have a bitcoin ATM and not operate it yourself. No way

I really don't know how refilling ATMs works.  I've never owned one or researched it, but I've seen armored cash vans load ATMs in the US.  Perhaps it's only feasible for an actual Mexican business owner to own/operate a BTC ATM in Mexico.  I'm not even going to pretend to know, but it may be something for someone with the knowledge and experience to look into.  I'm not really looking at it from the ATM owner's perspective, but from the ATM user's perspective.  If US regulators aren't interested in letting me use BTC ATMs in the US, then I would have no qualms with crossing the border to do so.  I've walked across the border into Tijuana many times with out any problems.  It's been a few years since i've been down there, but there used to be sportsbooks that allowed you to place bets on American sporting events in US dollars located close to the border because it was illegal to do so in California.  Also, a lot of college kids that weren't old enough to drink alcohol in the US would just go to Tijuana to do their drinking.

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."   - Henry Ford
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January 08, 2014, 11:11:21 PM
Last edit: May 13, 2018, 11:40:40 PM by grumpy619
 #13

I'm assuming there are ATMs in Mexico now that are secure.  I wouldn't know, I'm no expert on ATMs, but would probably be best to locate it inside a business, like the one in Vancouver.

Right of course...and who would refill it? You just contact a Mexican merchant and give him access to your machine? Mexicans are dirt poor, and people who travel to mexico dont go anywhere near the borders or get out of their cars near borders...not americans anyway. There is no way to have a bitcoin ATM and not operate it yourself. No way

I really don't know how refilling ATMs works.  I've never owned one or researched it, but I've seen armored cash vans load ATMs in the US.  Perhaps it's only feasible for an actual Mexican business owner to own/operate a BTC ATM in Mexico.  I'm not even going to pretend to know, but it may be something for someone with the knowledge and experience to look into.  I'm not really looking at it from the ATM owner's perspective, but from the ATM user's perspective.  If US regulators aren't interested in letting me use BTC ATMs in the US, then I would have no qualms with crossing the border to do so.  I've walked across the border into Tijuana many times with out any problems.  It's been a few years since i've been down there, but there used to be sportsbooks that allowed you to place bets on American sporting events in US dollars located close to the border because it was illegal to do so in California.  Also, a lot of college kids that weren't old enough to drink alcohol in the US would just go to Tijuana to do their drinking.

Dude where are you in San Diego?



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January 08, 2014, 11:22:07 PM
 #14

I'm assuming there are ATMs in Mexico now that are secure.  I wouldn't know, I'm no expert on ATMs, but would probably be best to locate it inside a business, like the one in Vancouver.

Right of course...and who would refill it? You just contact a Mexican merchant and give him access to your machine? Mexicans are dirt poor, and people who travel to mexico dont go anywhere near the borders or get out of their cars near borders...not americans anyway. There is no way to have a bitcoin ATM and not operate it yourself. No way

I really don't know how refilling ATMs works.  I've never owned one or researched it, but I've seen armored cash vans load ATMs in the US.  Perhaps it's only feasible for an actual Mexican business owner to own/operate a BTC ATM in Mexico.  I'm not even going to pretend to know, but it may be something for someone with the knowledge and experience to look into.  I'm not really looking at it from the ATM owner's perspective, but from the ATM user's perspective.  If US regulators aren't interested in letting me use BTC ATMs in the US, then I would have no qualms with crossing the border to do so.  I've walked across the border into Tijuana many times with out any problems.  It's been a few years since i've been down there, but there used to be sportsbooks that allowed you to place bets on American sporting events in US dollars located close to the border because it was illegal to do so in California.  Also, a lot of college kids that weren't old enough to drink alcohol in the US would just go to Tijuana to do their drinking.

Dude where are you in San Diego? I live close to the border also. It kind of funny how they said Mexicans are dirt poor when that country has the most Millionaires per capita in that country. Other then that Atm's work just like a middle man. I knew people that use to run ATM's at night clubs. What they did was just buy the ATM and it was connected to a telephone line that would access your account and just be the middle man. The only money they made was the fee for the transaction. I don't know what kind of laws there are but you are only really making money on transactions. Like at strip clubs and Indian casinos they would charge up to $4 bucks. But then again it may be different because you can also purchase bitcoins from the new ATM's. I just wish i had the funds to purchase 5 of them and set them up in the right locations. 100 transaction a day its $400 bucks at $4 a transaction. Or something like that.


Ok first of all, the millionaires dont live in fuckin tijuana or Laredo. The dirt poor mexicans that sell tacos at the borders do. Secondly, there are so many millionaires in Mexico cause you can do whatever the fuck you want and not have to worry about getting arrested. There is a reason pablo escobar was the richest man in the world at one point. Do you know how many millionaires we would have if the fuckin gangsters ran the country? come on man...and ATMs would take cash, your cash...the owners cash. Then that Mexican is going to send your cash back to America? No dude, the cartel just jacked your ATM...get a clue. its a lawless country...15 kids got taken out of a night club at 2pm in the afternoon a few months ago...all murdered, heads chopped off. Where in the fuck does that happen? Mexico, thats where. So again, just a horrible idea
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January 08, 2014, 11:33:54 PM
 #15

Pablo eskabar was Colombian after the US killed him it created a power vacuum. Now that the only road to the US was through Mexico the Mexicans got smart. In terms of getting your ass killed. There are very few random killings. You tell me to get a clue I bet you are one of the guys that only watch the bad things that go on in the news. Like I bet you think that Pitbulls are the worst dog to have cause they bite everything they see when in fact dalmatians bite more people then pits do . Bro your mind is brainwashed by the media. If crossing that border was so bad why is it the busiest border in the world? Don't get me wrong there are bad people that do bad things for no reason at all. But people get killed for money or are tied to money somehow. You have a better chance of winning the Lotto then getting killed for no apparent reason now if you live next to drug den then yes your odds are greater that you will get caught in a cross fire. Oh one more there when the hell did the whole mexico thing come up anyways. My original post was talking about putting it in Mt View California, San Francisco and San Diego.



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shawshankinmate37927
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January 09, 2014, 12:05:27 AM
 #16

I really don't know how refilling ATMs works.  I've never owned one or researched it, but I've seen armored cash vans load ATMs in the US.  Perhaps it's only feasible for an actual Mexican business owner to own/operate a BTC ATM in Mexico.  I'm not even going to pretend to know, but it may be something for someone with the knowledge and experience to look into.  I'm not really looking at it from the ATM owner's perspective, but from the ATM user's perspective.  If US regulators aren't interested in letting me use BTC ATMs in the US, then I would have no qualms with crossing the border to do so.  I've walked across the border into Tijuana many times with out any problems.  It's been a few years since i've been down there, but there used to be sportsbooks that allowed you to place bets on American sporting events in US dollars located close to the border because it was illegal to do so in California.  Also, a lot of college kids that weren't old enough to drink alcohol in the US would just go to Tijuana to do their drinking.

Dude where are you in San Diego? I live close to the border also. It kind of funny how they said Mexicans are dirt poor when that country has the most Millionaires per capita in that country. Other then that Atm's work just like a middle man. I knew people that use to run ATM's at night clubs. What they did was just buy the ATM and it was connected to a telephone line that would access your account and just be the middle man. The only money they made was the fee for the transaction. I don't know what kind of laws there are but you are only really making money on transactions. Like at strip clubs and Indian casinos they would charge up to $4 bucks. But then again it may be different because you can also purchase bitcoins from the new ATM's. I just wish i had the funds to purchase 5 of them and set them up in the right locations. 100 transaction a day its $400 bucks at $4 a transaction. Or something like that.

I lived in Imperial Beach for a while but I've been living in Temecula for the past few years.  I used to visit Tijuana quite a bit and the closest thing to any sort of incident I ever had south of the border was a Mexican guy in civilian clothes once stopped me along a busy street in Tijuana, pulled a police badge out of his pocket and said I owed him $50 for jaywalking.  I offered to go to the police station with him, but he wasn't interested in doing that, so I just laughed at him and walked away.  He then continued to look for some other gringo that would fall for his scam.

Other than that one incident, the Mexican people were very friendly and hospitable.  Also, their strip clubs don't have all of the rules and regulations that the American ones do.  Smiley

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."   - Henry Ford
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January 09, 2014, 12:14:32 AM
 #17

Pablo eskabar was Colombian after the US killed him it created a power vacuum. Now that the only road to the US was through Mexico the Mexicans got smart. In terms of getting your ass killed. There are very few random killings. You tell me to get a clue I bet you are one of the guys that only watch the bad things that go on in the news. Like I bet you think that Pitbulls are the worst dog to have cause they bite everything they see when in fact dalmatians bite more people then pits do . Bro your mind is brainwashed by the media. If crossing that border was so bad why is it the busiest border in the world? Don't get me wrong there are bad people that do bad things for no reason at all. But people get killed for money or are tied to money somehow. You have a better chance of winning the Lotto then getting killed for no apparent reason now if you live next to drug den then yes your odds are greater that you will get caught in a cross fire. Oh one more there when the hell did the whole mexico thing come up anyways. My original post was talking about putting it in Mt View California, San Francisco and San Diego.

The point is where drugs and violence flourish, a lot of money is made. Secondly, I do read the news, and I have been to Mexico. I think I almost got jumped, my phone was stolen by a stripper, and I got overcharged to shit...300 bucks in 2 hrs...thats not pesos. Thirdly I had a family member murdered there over his watch they tried to steal. So I guess he would of won the lottery. Thirdly, I have a pit, her name is medussa and she is the best dog ive ever come across. Fourthly, its the biggest border in the world because everyone commutes out of that shit hole after work. Fifthly, The dude said you should put the ATM in Canada or Mexico which is full retard I agree. So thats how we got there. Sixthly, I dont think the get a clue was directed at you, but it is now. Get a clue. Do you actually think people havent been trying to get around all the regulation operating one of those? I know it just hit you, but yes people have been trying for a while. You have to have around 200k to get it done in Cali alone Id assume. Plus there are a few already headed there. So its probably not even worth all the effort at this point
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January 09, 2014, 12:15:43 AM
 #18

Dude where are you in San Diego? I live close to the border also. It kind of funny how they said Mexicans are dirt poor when that country has the most Millionaires per capita in that country. Other then that Atm's work just like a middle man. I knew people that use to run ATM's at night clubs. What they did was just buy the ATM and it was connected to a telephone line that would access your account and just be the middle man. The only money they made was the fee for the transaction. I don't know what kind of laws there are but you are only really making money on transactions. Like at strip clubs and Indian casinos they would charge up to $4 bucks. But then again it may be different because you can also purchase bitcoins from the new ATM's. I just wish i had the funds to purchase 5 of them and set them up in the right locations. 100 transaction a day its $400 bucks at $4 a transaction. Or something like that.


Ok first of all, the millionaires dont live in fuckin tijuana or Laredo. The dirt poor mexicans that sell tacos at the borders do. Secondly, there are so many millionaires in Mexico cause you can do whatever the fuck you want and not have to worry about getting arrested. There is a reason pablo escobar was the richest man in the world at one point. Do you know how many millionaires we would have if the fuckin gangsters ran the country? come on man...and ATMs would take cash, your cash...the owners cash. Then that Mexican is going to send your cash back to America? No dude, the cartel just jacked your ATM...get a clue. its a lawless country...15 kids got taken out of a night club at 2pm in the afternoon a few months ago...all murdered, heads chopped off. Where in the fuck does that happen? Mexico, thats where. So again, just a horrible idea

Look at the sort of things that happen in the USA:

http://en.wikipedia.org/wiki/Columbine_High_School_massacre

http://en.wikipedia.org/wiki/Sandy_Hook_Elementary_School_shooting

I guess the USA isn't a safe place to have an ATM either...

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."   - Henry Ford
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January 09, 2014, 12:17:11 AM
 #19

I really don't know how refilling ATMs works.  I've never owned one or researched it, but I've seen armored cash vans load ATMs in the US.  Perhaps it's only feasible for an actual Mexican business owner to own/operate a BTC ATM in Mexico.  I'm not even going to pretend to know, but it may be something for someone with the knowledge and experience to look into.  I'm not really looking at it from the ATM owner's perspective, but from the ATM user's perspective.  If US regulators aren't interested in letting me use BTC ATMs in the US, then I would have no qualms with crossing the border to do so.  I've walked across the border into Tijuana many times with out any problems.  It's been a few years since i've been down there, but there used to be sportsbooks that allowed you to place bets on American sporting events in US dollars located close to the border because it was illegal to do so in California.  Also, a lot of college kids that weren't old enough to drink alcohol in the US would just go to Tijuana to do their drinking.

Dude where are you in San Diego? I live close to the border also. It kind of funny how they said Mexicans are dirt poor when that country has the most Millionaires per capita in that country. Other then that Atm's work just like a middle man. I knew people that use to run ATM's at night clubs. What they did was just buy the ATM and it was connected to a telephone line that would access your account and just be the middle man. The only money they made was the fee for the transaction. I don't know what kind of laws there are but you are only really making money on transactions. Like at strip clubs and Indian casinos they would charge up to $4 bucks. But then again it may be different because you can also purchase bitcoins from the new ATM's. I just wish i had the funds to purchase 5 of them and set them up in the right locations. 100 transaction a day its $400 bucks at $4 a transaction. Or something like that.

I lived in Imperial Beach for a while but I've been living in Temecula for the past few years.  I used to visit Tijuana quite a bit and the closest thing to any sort of incident I ever had south of the border was a Mexican guy in civilian clothes once stopped me along a busy street in Tijuana, pulled a police badge out of his pocket and said I owed him $50 for jaywalking.  I offered to go to the police station with him, but he wasn't interested in doing that, so I just laughed at him and walked away.  He then continued to look for some other gringo that would fall for his scam.

Other than that one incident, the Mexican people were very friendly and hospitable.  Also, their strip clubs don't have all of the rules and regulations that the American ones do.  Smiley

One of the dudes I went with took one of the strippers back to the hotel and banged her. Also Im pretty sure I had a 11 or 12 yr old girl proposition me in Rosarito...very sad place
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January 09, 2014, 12:23:10 AM
 #20

Dude where are you in San Diego? I live close to the border also. It kind of funny how they said Mexicans are dirt poor when that country has the most Millionaires per capita in that country. Other then that Atm's work just like a middle man. I knew people that use to run ATM's at night clubs. What they did was just buy the ATM and it was connected to a telephone line that would access your account and just be the middle man. The only money they made was the fee for the transaction. I don't know what kind of laws there are but you are only really making money on transactions. Like at strip clubs and Indian casinos they would charge up to $4 bucks. But then again it may be different because you can also purchase bitcoins from the new ATM's. I just wish i had the funds to purchase 5 of them and set them up in the right locations. 100 transaction a day its $400 bucks at $4 a transaction. Or something like that.


Ok first of all, the millionaires dont live in fuckin tijuana or Laredo. The dirt poor mexicans that sell tacos at the borders do. Secondly, there are so many millionaires in Mexico cause you can do whatever the fuck you want and not have to worry about getting arrested. There is a reason pablo escobar was the richest man in the world at one point. Do you know how many millionaires we would have if the fuckin gangsters ran the country? come on man...and ATMs would take cash, your cash...the owners cash. Then that Mexican is going to send your cash back to America? No dude, the cartel just jacked your ATM...get a clue. its a lawless country...15 kids got taken out of a night club at 2pm in the afternoon a few months ago...all murdered, heads chopped off. Where in the fuck does that happen? Mexico, thats where. So again, just a horrible idea

Look at the sort of things that happen in the USA:

http://en.wikipedia.org/wiki/Columbine_High_School_massacre

http://en.wikipedia.org/wiki/Sandy_Hook_Elementary_School_shooting

I guess the USA isn't a safe place to have an ATM either...

Well the difference is, those people got caught...basically. The Mexicans that kill/cut off the heads of politicians and police chiefs and attorneys and innocent kids and judges and police officers and reporters and journalists and activists and anyone else that stand in their way dont get caught for the most part.  Again its a lawless country
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