Bitcoin ATM

[grumpy619]

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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[exstasie]

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.

[AmericanBit]

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

[el_Tico]

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/

[AmericanBit]

Exactly, they're our fucking ATMs and we cant even use them...FUCK this place...Free my ass

[hilariousandco]

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.

[shawshankinmate37927]

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.

[AmericanBit]

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

[shawshankinmate37927]

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/

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.

[shawshankinmate37927]

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.

[AmericanBit]

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

[shawshankinmate37927]

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.

[grumpy619]

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?

[AmericanBit]

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

[grumpy619]

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.

[shawshankinmate37927]

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. 

[AmericanBit]

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

[shawshankinmate37927]

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...

[AmericanBit]

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. 

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

[AmericanBit]

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

[grumpy619]

Sorry for the loss. What I was trying to say is know the code of what ever country you go to. I love Mexico but would never go there with out a close friend that spoke Spanish. I know for a fact the the safest places in Mexico is the strip clubs. The cartels don't want their money messed with. I've been down there many time and never encountered any problems and I'm 15 min from the border. People don't notice u there unless you make your self noticed.

 To digress so it would be $1000000 + to make it happen pluses licenses. The way I see it bit coins are like casino chips that don't have a set value so why can't u sell it just like that?

[AmericanBit]

Sorry for the loss. What I was trying to say is know the code of what ever country you go to. I love Mexico but would never go there with out a close friend that spoke Spanish. I know for a fact the the safest places in Mexico is the strip clubs. The cartels don't want their money messed with. I've been down there many time and never encountered any problems and I'm 15 min from the border. People don't notice u there unless you make your self noticed.

 To digress so it would be $1000000 + to make it happen pluses licenses. The way I see it bit coins are like casino chips that don't have a set value so why can't u sell it just like that?

Oh thanks just dont go on the beaches after sundown...they are serious...the point is, its just not safe for Americans anymore unless youre in a resort town. But digression...you cant send casino chips to other countries and get money for them. Its all about laundering and the USA keeping track of all money transactions

[TiagoTiago]

And how are you planning on bringing that suitcase filled with money across the border each time the ATM is full? Suddenly getting a revenue stream from Mexico via bank would also bring unwanted attention your way...

And what you gonna do if some druglords want 120% cut from your activities in their turf?

[grumpy619]

Sorry for the loss. What I was trying to say is know the code of what ever country you go to. I love Mexico but would never go there with out a close friend that spoke Spanish. I know for a fact the the safest places in Mexico is the strip clubs. The cartels don't want their money messed with. I've been down there many time and never encountered any problems and I'm 15 min from the border. People don't notice u there unless you make your self noticed.

 To digress so it would be $1000000 + to make it happen pluses licenses. The way I see it bit coins are like casino chips that don't have a set value so why can't u sell it just like that?

Oh thanks just dont go on the beaches after sundown...they are serious...the point is, its just not safe for Americans anymore unless youre in a resort town. But digression...you cant send casino chips to other countries and get money for them. Its all about laundering and the USA keeping track of all money transactions

So I the end the government just wants to keep track of the transaction and needs to make sure they get there cut. The volitility of BITCOIN is what they don't trust?

[AmericanBit]

Sorry for the loss. What I was trying to say is know the code of what ever country you go to. I love Mexico but would never go there with out a close friend that spoke Spanish. I know for a fact the the safest places in Mexico is the strip clubs. The cartels don't want their money messed with. I've been down there many time and never encountered any problems and I'm 15 min from the border. People don't notice u there unless you make your self noticed.

 To digress so it would be $1000000 + to make it happen pluses licenses. The way I see it bit coins are like casino chips that don't have a set value so why can't u sell it just like that?

Oh thanks just dont go on the beaches after sundown...they are serious...the point is, its just not safe for Americans anymore unless youre in a resort town. But digression...you cant send casino chips to other countries and get money for them. Its all about laundering and the USA keeping track of all money transactions

So I the end the government just wants to keep track of the transaction and needs to make sure they get there cut. The volitility of BITCOIN is what they don't trust?

They just want their cut, and yes they like to keep track of all money spent and moved...thats why an transaction over 10k has to be reported no matter what.

[Alex_green]

Best Bitcoin ATM  in Canada...

[leex1528]

So I am slightly confused on how they work.  Are you able to purchase bitcoins through these and sell them depending on what the rate is?  I mean couldn't you just keep buying/selling when it raises/lowers? 

Anyone got a good basic article about these or quick answers?

[JessyMatt]

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. 

California is a good idea because Governor Jerry Brown just signed a low that makes bitcoin and other cryptocurrencies legal! There are a few bitcoin ATMs in Los Angeles, California but it's a big state.

[DannyElfman]

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

IMO regulations in the US are vastly slowing the pace of bitcoin adoption then we would otherwise have

[Keyara]

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

IMO regulations in the US are vastly slowing the pace of bitcoin adoption then we would otherwise have

Not just slowing down bitcoin adaption. Innovation is leaving US and going elsewhere.

[tinof]

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

IMO regulations in the US are vastly slowing the pace of bitcoin adoption then we would otherwise have

Not just slowing down bitcoin adaption. Innovation is leaving US and going elsewhere.

Sad to see even high tech semi conductor manufacturing is done elsewhere now. Just a matter of time before the rest of the world catch up with drone and military application.

[Denise520]

I heard of it before, and I'm looking forward to using it.

[master-P]

HTC atms usually charge steep fees and require fingerprints/photo ID. I don't see why people would want to use them unless you urgently need to sell BTC. Most of them are only for buying BTC though.

[leezay]

HTC atms usually charge steep fees and require fingerprints/photo ID. I don't see why people would want to use them unless you urgently need to sell BTC. Most of them are only for buying BTC though.

These ATM usually target 1st time buyer. And there are still a lot of potential 1st time buyer in many cities.

[DannyElfman]

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

IMO regulations in the US are vastly slowing the pace of bitcoin adoption then we would otherwise have

Not just slowing down bitcoin adaption. Innovation is leaving US and going elsewhere.

As long as overall worldwide bitcoin adoption goes up I do not have a problem with this.

This is however a concern on an US economic and national security level

[cam02003]

Vancouver ATM has been the outlier in volume. Massive success combo being first, media hype, huge chinese community, etc.

Robocoins in USA (austin, mountain view, seattle) have done a fraction of the volume seen in Vancouver.

I love the idea of more bitcoin ATMs. I think lower costs and a friendly legal environment are needed to make them a flourishing business opportunity.

[AdamSmith]

Vancouver ATM has been the outlier in volume. Massive success combo being first, media hype, huge chinese community, etc.

Robocoins in USA (austin, mountain view, seattle) have done a fraction of the volume seen in Vancouver.

I love the idea of more bitcoin ATMs. I think lower costs and a friendly legal environment are needed to make them a flourishing business opportunity.

Didn't know they have a Chinese community in Vancouver. Why are the Chinese paying premium to buy bitcoin?

[cam02003]

Vancouver ATM has been the outlier in volume. Massive success combo being first, media hype, huge chinese community, etc.

Robocoins in USA (austin, mountain view, seattle) have done a fraction of the volume seen in Vancouver.

I love the idea of more bitcoin ATMs. I think lower costs and a friendly legal environment are needed to make them a flourishing business opportunity.

Didn't know they have a Chinese community in Vancouver. Why are the Chinese paying premium to buy bitcoin?

Capital controls back in mainland China make it difficult to get money out. Well know that many wealthy chinese buy 2nd houses (often sending wife and children) in Vancouver so that if shit hits the fan (gov decides to confiscate their assets) they flee. If you look at run up last november much of the volume was coming from China after state TV ran a special on bitcoin.

[Southpaw0]

we need atleast 1 bitcoin atm in every state in the united states!

[Swordsoffreedom]

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. 

If you can get through state wide regulations it would be a good idea to get them spread around
Try a bitaccess or skyhook perhaps if your looking for a model lamassu are great as well and they have good support.

[DannyElfman]

Vancouver ATM has been the outlier in volume. Massive success combo being first, media hype, huge chinese community, etc.

Robocoins in USA (austin, mountain view, seattle) have done a fraction of the volume seen in Vancouver.

I love the idea of more bitcoin ATMs. I think lower costs and a friendly legal environment are needed to make them a flourishing business opportunity.

I think part of this would be the additional AML regulations that are in the US that are not in Canada.

[FizWeb]

Coindesk has an ATM map to find out where in your city you can find a bitcoin ATM (if it exists!).

[Denise520]

 I agree with you, Bitcoin ATM would help make it easier to buy and sell for users. 

[Erdogan]

I originally thought that bitcoin ATMs were costly and impractical, therefore would not succeed. I was wrong.

Most interesting development is Ukraine. where they appearantly changed the software in all conventional ATMs to include bitcoin. In a country with a really unsafe currency. That is big.

[NapoleonBonaparte]

I originally thought that bitcoin ATMs were costly and impractical, therefore would not succeed. I was wrong.

Most interesting development is Ukraine. where they appearantly changed the software in all conventional ATMs to include bitcoin. In a country with a really unsafe currency. That is big.

Bitcoin ATM is cheap if you amortized it over a year. If you charge your customer 2-3% per transaction, you will ROI very quick if there is volume.

[DannyElfman]

I originally thought that bitcoin ATMs were costly and impractical, therefore would not succeed. I was wrong.

Most interesting development is Ukraine. where they appearantly changed the software in all conventional ATMs to include bitcoin. In a country with a really unsafe currency. That is big.

Bitcoin ATM is cheap if you amortized it over a year. If you charge your customer 2-3% per transaction, you will ROI very quick if there is volume.

There are a lot of uncertainties regarding bitcoin that would make this less then a sure thing. For example regulation could make it so that bitcoin is all but outlawed.

Your post also assumes that the level of consumer adoption will hold steady or rise, which is also not certain.

[EvolutionA2Z]

http://www.coindesk.com/5000-terminals-across-ukraine-now-offer-bitcoin-cash/