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Author Topic: Bitcoin ATMs -- who are the players?  (Read 7890 times)
Tuxavant
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October 27, 2011, 03:58:47 PM
 #41

I think Bitcoin ATMs in Las Vegas strip clubs could be a hit and do a lot for the economy... And just imagine all the hot girls getting sexy QRCode tattoos on their asses. The could be the new Tramp Stamp!

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October 27, 2011, 04:55:11 PM
 #42

I have also worked with Mr. Bethell and have remained quite.  But, I will speak up my thoughts.  I believe it is still possible to make a profit on Bitcoin ATM, but one needs a solid business plan.  The plan presented by Mr. Bethell has some flaws, IMHO.

People sell video game machines for $10K+ and these machines profit over time.  An ATM is about $5K.  If it can pull in $15 profit a day it would take a year to pay off.  Maybe year and a half.  After that it would all be profit.  The Bitcoin ATM is more like a three year investment and you won't see profit until many years (assuming there is actually some demand which I think there is.)

It would take a lot of dedication and planning to make a successful Bitcoin ATM business.  I can see people wanting to create one for fun, like Johnathan said, for geek cred.

Mt. Gox offers deposits at Chase bank now with a little paperwork, so that is more competition for the Bitcoin ATM.

Didn't he what to provide Fiat services as well at the ATMs? If so, there is you profit. I worked at a gas station in the South while going to college and people there still use ATMs a lot, so it depends on your market area. But you would have to start with a 200 mile radius from you business location (maintenance, money transport issues, etc.) and that's it, until you reached that 200 ATM mark. After the 200 mark you would be forced to expand. I think if a business that has Bitcon/fiat accepting POS units with merchant accounts,  bitcoin ATMs (bitcoin/debt accepting ATMs) could just be a add in to a small retail shop and could be quite profitable.

I saw the flaws in Mr. Bethell's idea when i first watched the videos about the ATM. It sounded like he didn't understand that there is maintenance on these machines, among other things.

I think your idea to combine a normal ATM with bitcoin is the best business plan.  What is even better is if you could work with an existing ATM maker to modify the software to provide bitcoin transactions.  Then it would just be a matter of upgrading the software without buying new hardware.

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October 27, 2011, 08:13:46 PM
 #43

How far did you all get in producing the software?

We had a working prototype in just under 7 days. Had there not been a falling out (and had we been paid), our next step would have been to develop a native application in Qt or VS with a more robust administrative back end (reporting, end of day reports, etc).

The idea of integrating into existing ATMs is probably not as realistic as some of you might think.

Going after Kiosk software providers may be a good way to go, because they already have the installed hardware base, but then again, there's nothing keeping them from cutting you out and just developing the software modules themselves, and providing that to their kiosk network without you.

This is a fundamental problem with the Bitcoin ATM concept. Frankly, if you're successful at deploying a few of them, it's only a matter of weeks before a bigger dog takes the idea and totally destroys your business.

The other problem is that as is, any Bitcoin ATM would be leveraging an ad-hoc network of services, with no central platform for record keeping, atomicity or reliable liquidity.

-Jonathan

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October 27, 2011, 08:40:18 PM
 #44

How far did you all get in producing the software?

We had a working prototype in just under 7 days. Had there not been a falling out (and had we been paid), our next step would have been to develop a native application in Qt or VS with a more robust administrative back end (reporting, end of day reports, etc).

The idea of integrating into existing ATMs is probably not as realistic as some of you might think.

Going after Kiosk software providers may be a good way to go, because they already have the installed hardware base, but then again, there's nothing keeping them from cutting you out and just developing the software modules themselves, and providing that to their kiosk network without you.

This is a fundamental problem with the Bitcoin ATM concept. Frankly, if you're successful at deploying a few of them, it's only a matter of weeks before a bigger dog takes the idea and totally destroys your business.

The other problem is that as is, any Bitcoin ATM would be leveraging an ad-hoc network of services, with no central platform for record keeping, atomicity or reliable liquidity.

-Jonathan

BitcoinATM is indeed a big risk if you did it yourself.  If I went after kiosk software providers and they cut me out I would be cool with it because it would strengthen the bitcoin economy.  But I understand people want to profit too which is fine.

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October 27, 2011, 08:56:37 PM
 #45

Everyone,

My partner and I spent a week with Todd Bethell, developing the Bitcoin ATM platform from the ground up on a Kiosk in his garage. He's a big dreamer for sure, and is also unfortunately misguided. He had no technical understanding of how Bitcoin works, and was purely ideologically driven in regards to what he saw as the potential market size. What I saw as a prototype / proof of concept / 'cool bleeding edge, fun project', he saw as the answer to the economic ills of the world.

When we met Todd, we found his hard line Libertarian ideals endearing. When we parted ways, unpaid for services rendered, I felt differently. He'd spoken of Dustin and others as his big Bitcoin investors. Unfortunately, that money never materialized, and instead of dealing with us in an upfront and honest way, he instead insulted our work, competence, demanded that we sign a non compete agreement, and even went so far as to report me to the Bitcoin Police, while also calling me and Eric 'fraudsters' and 'scammers' to others. The offline wallet system listed on his site is my IP, as is the implementation description and backend services which we already coded for the Vanity addresses. Yeah, I'm the scammer and thief. *cough*.

So, when Todd didn't pay us, we pulled the kill switch on the software. Perhaps we should have just let him have it for free? What would you have done?

I think there is a really good lesson here for many of you in the Bitcoin community to learn. Bitcoin is very young, and the market size is nowhere near where it needs to be for brick and mortar solutions to be realistic.

Mr. Bitcoiner and others have made very valid points as to the coming obsolescence of ATMs. Bitcoin ATMs will almost certainly never find a mass market.

200 Bitcoin Kiosks @ $4000 / unit + Software, Monthly Support, Security, On Site Maintenance = Not Viable

video of the Bitcoin ATM in debug mode: http://www.youtube.com/watch?v=c2tikxtviqQ

So.. You want to know why his site is dead? It's because the economic issues that the have been raised here are incredibly valid. The idea of 200 "Bitcoin ATMs" (really, Kiosks) being deployed worldwide is hilariously unrealistic and naive.

Frankly my experience with the fly-by-night operators in Bitcoin has left me with such a bad taste in my mouth that I prefer to only work in a vacuum, and do my best to just keep to myself. So many of you are liars, thieves and crooks, dishonest businessmen, and frankly, just outright criminals, that it's not all that surprising that Bitcoin has been suffering from an image problem.

I'm tired of being libeled. I'm one of the few people actively working on the building blocks of the Bitcoin economy while so many others are outwardly projecting their own insecurities about themselves by way of calling others scammers and fraudsters. I have never seen such a thing anywhere else. The ratio of of Bitcoiners who have psychiatric disorders relative to the general population has got to be massive.

TL:DR

Bitcoin ATMs will never come to market. By the time Bitcoin gets to the size necessary for their viability, smartphones and other POS solutions will exist. On the surface, Bitcoin ATMs seem like a good idea, but they are financial black holes.

-Jonathan
I really like what you've said here Jonathan, and I agree wholeheartedly.  I just couldn't help pointing out the above and laughing at it!
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October 27, 2011, 09:12:56 PM
 #46

I'm playing the good guy here and I want to point out that there are some good people here that are involved in bitcoin who are not thieves, crooks, liars, or criminals.  It's too bad some/(many) people have to ruin it for everyone else.

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October 27, 2011, 09:44:09 PM
 #47

I'm playing the good guy here and I want to point out that there are some good people here that are involved in bitcoin who are not thieves, crooks, liars, or criminals.  It's too bad some/(many) people have to ruin it for everyone else.
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December 11, 2011, 10:57:16 PM
 #48

It is because the internet never forgets that I reluctantly revive this dead thread.

Bitcoin ATM is a California registered C corperation AND IS AGAIN actively seeking partners, developers, licensees and accredited investors. Announcments will be made soon on more appropriate threads and www.bitcoinATM.com.

The company has ‘gone dark’ in recent months for none of the reasons talked about in this thread. To date there has been approximately $35,000 invested solely by the founder. The loss of 1000btc by the ‘MyBitcoin’ theft was an untimely psychological blow. Bitcoin ATM’s largest ‘bitcoin investor’ had terms that none of his bitcoins could be sold for less than $11. Therefore it is primarily the drop in bitcoin prices from $14 to $2 that has made the runway, in almost any palatable scenario, to short. Another important component of delays was an equity dispute with Jared Turner, the chairman of Play N Trade. A settlement document (with modest financial consideration) includes wording that we never say anything bad about the situation or each other’s companies or characters.

The reason I did not go public sooner is because Jonathan Ryan Owens and Eric Lombrozo were tangled up in that dispute. I am not obligated to lay down and allow a destroyer like Jonathan Ryan Owens to harm my family. Fortunately, since Play N Trade, along with many others is also one of his victims, I don’t have to live with that mistake. I have decided to implement what I have coined ‘The Readen Offense’.

Jonathan Ryan Owens is a scam artists far worse than a petty thief because of his gift for sweet tasting rhetorical poison that vandalizes the soul. He should not have supposed that my absence from the forums meant that I did not have the goods on him! Jonathan just couldn’t stand the deafening silence of those who refuse to help him ‘simulate the illusion of rationality by entering into debates where adhononyms are not just his last argument but his first’. Video recordings, emails, text messages, the Bitcoinduit code, the names and phone numbers of his accomplices and victims will be published wherever they may be found (at least those who don’t request anonimity).
When Jonathan first came to me he said “Eric and I will help you because you have a nice family”. I should have thrown him out right then. Having recently read “Atlas Shrugged” I can’t believe I did not recognize ‘the leper’s bell of an approaching looter’! Oh, and by the way, I did not call the Bitcoin Police on him, they called me. And it was not a “DDoS attack” on Aug 25th that took down bitcoinduit.com, his gambling/ponzi scheme site. It was just me trying to gain access to ATM.co set up on the same server  the day he started work on Bitcoin ATM for the express purpose of defrauding me. Why, oh why, did I not throw him out when I witnessed him cheating his players by manipulating the game.

Oh yes, many more ‘whac-a-mole’ examples of Jonathan Ryan Owens bad behavior to come. Wherever he or his accomplices, real or fake supporters, may pop up.

Todd Bethell, CFM, MBA
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December 12, 2011, 02:18:06 AM
 #49

actually i'm not surprised.  you should witness his behavior on the Speculation Forum.
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December 12, 2011, 07:15:35 PM
 #50

I think the simplest setup would be a bitcoin dispensing machine.

You put in dollars, and it will send bitcoins to you.

Hook up a dollar acceptor (these can be purchased for little on ebay) to a cheap computer.

From there, you can either print out a receipt with a private key on it pre-funded with bitcoins, or if you want to get fancy, you can set up a camera to read a QR code off of a phone, and fund that address.

The whole rig could be set up for less than 1000 dollars. I would recommend getting a little fancier, and including a decent touch screen, which would be able to show you how to set up your phone to receive bitcoins.

To make development really simple, I would say, set up php on the machine, and operate a web browser in full screen mode on a touch screen. This way you could play videos, and do buttons, and even issue command line commands to bitcoind using the interface.

This should be set up in a place of business so the security on the machine could be minimal. It won't dispense cash (otherwise every person that sees it will try to get the money out). Also the machine should only have a limited amount of bitcoins on it at a time since hackers will try to attack it.

Basically it would be a machine designed around converting new users to bitcoin.

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December 12, 2011, 07:35:09 PM
 #51

It is because the internet never forgets that I reluctantly revive this dead thread.

Bitcoin ATM is a California registered C corperation AND IS AGAIN actively seeking partners, developers, licensees and accredited investors. Announcments will be made soon on more appropriate threads and www.bitcoinATM.com.

The company has ‘gone dark’ in recent months for none of the reasons talked about in this thread. To date there has been approximately $35,000 invested solely by the founder. The loss of 1000btc by the ‘MyBitcoin’ theft was an untimely psychological blow. Bitcoin ATM’s largest ‘bitcoin investor’ had terms that none of his bitcoins could be sold for less than $11. Therefore it is primarily the drop in bitcoin prices from $14 to $2 that has made the runway, in almost any palatable scenario, to short. Another important component of delays was an equity dispute with Jared Turner, the chairman of Play N Trade. A settlement document (with modest financial consideration) includes wording that we never say anything bad about the situation or each other’s companies or characters.

The reason I did not go public sooner is because Jonathan Ryan Owens and Eric Lombrozo were tangled up in that dispute. I am not obligated to lay down and allow a destroyer like Jonathan Ryan Owens to harm my family. Fortunately, since Play N Trade, along with many others is also one of his victims, I don’t have to live with that mistake. I have decided to implement what I have coined ‘The Readen Offense’.

Jonathan Ryan Owens is a scam artists far worse than a petty thief because of his gift for sweet tasting rhetorical poison that vandalizes the soul. He should not have supposed that my absence from the forums meant that I did not have the goods on him! Jonathan just couldn’t stand the deafening silence of those who refuse to help him ‘simulate the illusion of rationality by entering into debates where adhononyms are not just his last argument but his first’. Video recordings, emails, text messages, the Bitcoinduit code, the names and phone numbers of his accomplices and victims will be published wherever they may be found (at least those who don’t request anonimity).
When Jonathan first came to me he said “Eric and I will help you because you have a nice family”. I should have thrown him out right then. Having recently read “Atlas Shrugged” I can’t believe I did not recognize ‘the leper’s bell of an approaching looter’! Oh, and by the way, I did not call the Bitcoin Police on him, they called me. And it was not a “DDoS attack” on Aug 25th that took down bitcoinduit.com, his gambling/ponzi scheme site. It was just me trying to gain access to ATM.co set up on the same server  the day he started work on Bitcoin ATM for the express purpose of defrauding me. Why, oh why, did I not throw him out when I witnessed him cheating his players by manipulating the game.

Oh yes, many more ‘whac-a-mole’ examples of Jonathan Ryan Owens bad behavior to come. Wherever he or his accomplices, real or fake supporters, may pop up.

Love this!
Finally someone that dosent have their blinders on.

For Canadians by Canadians: Canada's Bitcoin Community - https://www.coinforum.ca/
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December 12, 2011, 08:51:38 PM
 #52

Todd,

you do know that he trashed you thoroughly in another thread a coupla months ago?
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December 12, 2011, 08:57:54 PM
 #53

Never before have I seen so much self-importance and energy invested in a innovation so over-engineered and so impractical. Some of you will ask "What do you think is better?"

I rather leave that to be addressed all in good time.

@HarveyAlpha (https://twitter.com/#!/HarveyAlpha) | It would be foolish to assert that there is no power above mine. Only the attitude that I take toward it will be quite another than that of the religious age: I shall be the enemy of every higher power.
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December 20, 2011, 04:05:15 AM
 #54

Why, oh why, did I not throw him out when I witnessed him cheating his players by manipulating the game.

O.o

please do tell a story, sir.  Are you, by any chance, related to bit-tired?

(BFL)^2 < 0
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December 20, 2011, 04:18:40 AM
 #55

Quote
The company has ‘gone dark’ in recent months for none of the reasons talked about in this thread. To date there has been approximately $35,000 invested solely by the founder. The loss of 1000btc by the ‘MyBitcoin’ theft was an untimely psychological blow. Bitcoin ATM’s largest ‘bitcoin investor’ had terms that none of his bitcoins could be sold for less than $11. Therefore it is primarily the drop in bitcoin prices from $14 to $2 that has made the runway, in almost any palatable scenario, to short. Another important component of delays was an equity dispute with Jared Turner, the chairman of Play N Trade. A settlement document (with modest financial consideration) includes wording that we never say anything bad about the situation or each other’s companies or characters.

Sorry to hear about your troubles, Todd.

Quote
The reason I did not go public sooner is because Jonathan Ryan Owens and Eric Lombrozo were tangled up in that dispute. I am not obligated to lay down and allow a destroyer like Jonathan Ryan Owens to harm my family. Fortunately, since Play N Trade, along with many others is also one of his victims, I don’t have to live with that mistake. I have decided to implement what I have coined ‘The Readen Offense’.

Did I victimize Play N Trade? How so? You realize that when Jared helped Eric and me out, it was for a loan to cover our expenses after you completely lost your mind, and that I've been in contact with Jared throughout, right? You further understand that at no point have I ever been on bad terms with him, right?

Quote
Jonathan Ryan Owens is a scam artists far worse than a petty thief because of his gift for sweet tasting rhetorical poison that vandalizes the soul. He should not have supposed that my absence from the forums meant that I did not have the goods on him! Jonathan just couldn’t stand the deafening silence of those who refuse to help him ‘simulate the illusion of rationality by entering into debates where adhononyms are not just his last argument but his first’. Video recordings, emails, text messages, the Bitcoinduit code, the names and phone numbers of his accomplices and victims will be published wherever they may be found (at least those who don’t request anonimity).
When Jonathan first came to me he said “Eric and I will help you because you have a nice family”. I should have thrown him out right then. Having recently read “Atlas Shrugged” I can’t believe I did not recognize ‘the leper’s bell of an approaching looter’! Oh, and by the way, I did not call the Bitcoin Police on him, they called me. And it was not a “DDoS attack” on Aug 25th that took down bitcoinduit.com, his gambling/ponzi scheme site. It was just me trying to gain access to ATM.co set up on the same server  the day he started work on Bitcoin ATM for the express purpose of defrauding me. Why, oh why, did I not throw him out when I witnessed him cheating his players by manipulating the game.

xD

Todd, you're completely and utterly insane. When I talked to Jared in mid October, he was livid at your actions and suggested to me that I please take you to court regarding the unpaid work that Eric and I did. Do you also remember that your 'equity dispute' with Jared had to do with your withholding of his Bitcoins which you embezzled, and which Jared was about to call the SDPD on you for to file a criminal complaint? Do you realize that Jared let you off the hook very lightly when you forced him to sign your papers in exchange for his Bitcoins back? Do you further realize that Jared lost thousands of dollars because you were holding his coins, and that you are still technically criminally liable for your actions?

You have the goods on me do you? Go for it, Todd. I'm not a scam artist. However, YOU most certainly are.

Further, your admission of a DDoS attack on August 25 is enough for a criminal complaint. You do realize that, right?

I did like your family, and I liked you. Then you ripped Eric and I off, so we kept the code. Period. You want to continue the debate, then lets do it in person, or in court. Which do you prefer?

Quote
Oh yes, many more ‘whac-a-mole’ examples of Jonathan Ryan Owens bad behavior to come. Wherever he or his accomplices, real or fake supporters, may pop up.

Nice to make your acquaintance, bit-tired.

-Jonathan

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December 20, 2011, 05:12:32 AM
 #56

For the record, Jonathan and I put in many long hours getting his ATM machine working, often staying very
late nights at his place toiling away. Not only that - Jonathan found him a video production crew to document
his company and also found him a booth at a show after Todd soured his relationship with Play N Trade who
had offered him a retail location in which to debut his ATM.

We had an agreement...he was going to pay us cash for our work and he would get to keep the source code.
Well, he didn't come through on his side - we successfully got his machine working and got him a forum in which
to present it and promote it but he failed to pay us what he owed us. Not only that, the whole time we were there
he was secretly recording us and videotaping us...and acting generally paranoid...and seemed to have a rather
unstable personality.

Todd got upset at Jonathan because Jonathan had the nerve to tell Todd to his face how he felt about his creepy
ways...and I believe both of us had reason to be upset for the fact that he had failed to come through on his
side of the arrangement and trying to claim that he would pay less than he had originally said...and even admitted
that he knew it was more than he was saying it was.

So we both walked out of his garage. He still kept every single line of source code,
but despite his obsession for adding all sorts of superficial features, he didn't seem to want to give much priority
to ensuring the basic functionality was stable...nor to really understand how to even do as much as start the app.
If he wasn't able to figure out how to get the app running once we left it was only because he never even bothered
to ask us how to configure it and set it up.

Seeing that it was highly unlikely he would ever pay the full amount he owed us, I later even offered him that I'd
show him everything he needed to get it working again for less than half of what he owed...and that we'd consider
it a done deal. Well...he flaked, claiming that he was going to have some russian relatives redo the software instead.

Jonathan and I were nothing but nice to Todd until it became apparent that he was someone with which it was impossible
to do business. I regret that it had to end like that, but that's the story.

Just wanted to set the record straight.
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December 20, 2011, 09:46:05 AM
 #57

Open letter to Todd,

I was introduced to you through Jared Turner of PlayNTrade. I remember him talking about you, and the numerous warnings that you weren't "normal" in any sense of the word. He insisted that I'd just "understand" when I met you. As you'll recall, Jared brought Eric and I in to meet you and check out the Bitcoin ATM, and you were against a rock and a hard place. Remember? Jim the Bitcoin Blogger had been working with you to develop the Bitcoin ATM v1. Though I don't know the whole story, the pieces that I heard were as follows:

1. You promised Jim something that you didn't deliver on

2. Jim disabled your software for either non payment, or because you didn't adhere to the agreement you'd reached with him. This was a warning sign.

3. When we met, you quickly offered up the world, dangling the carrot of "ownership" in the BitcoinATM idea to both Eric and myself.

4. I told you straight away that equity was off the table, that neither I or Eric had any interest in ownership.

5. We agreed on a fee to completion. We had 6 days to rebuild the software to run BitcoinATM.

6. On day 2, you had a conversation with Jared at PlayNTrade, and had a falling out.

7. The day after, a friday, I drove up to San Clemente to meet with Jared and ask him whether he wanted your device in his store.

8. It was readily apparent that Jared was uncomfortable with the reality of a Bitcoin ATM in his place of business. There are probably a number of reasons.
a. No defined ownership on his part, even though he paid for half of the Kiosk.
b. No registered corporation, no money services business license either State or Federal
c. Grey area legal status of Bitcoin itself
d. Lack of legal structure, opinion or adequate legal representation
e. No funding
f. Lack of popular interest in the Bitcoin concept i.e. too early

9. I previewed the BitcoinATM video / interview from digivid media, (you know - the one which had interview questions that I prepared for the interviewer to ask you) to Jared et al on a trip to san clemente, trying to get him excited toward BitcoinATM being in his place of business (playNtrade). However you were still "negotiating". Jared felt 50% was fair for his name, experience and his internal and personal resources to be put on your project.

You were LUCKY to have someone who knew your nature be so nice. He was offering up 50% for his and his resources time to get BitcoinATM in as many locations as possible.

10. Half way through (4 days) I was concerned that you weren't going to pay us on completion. You insisted that you were in negotiations with Jared, but he made it perfectly clear that you'd alienated him, and that you were acting in a very imbalanced way. I concurred. As it stood at that point, Jared told me to press on, and let me know that he'd pay me if you didn't.

11. I found "Cool As Ever Tech Show" and got you to sign up. It was a good place to showcase our work, and your BitcoinATM. As you'll recall, the video crew showed up there, too.

12. The stress of working with you caused me to start having panic attacks, which triggered my latent heart condition, supra ventricular tachycardia. I had to go to the hospital and everything. I came over the next day to pick up our check, and that's when we had our confrontation. You lead with your power move - i.e. you presented both Eric and I with a non compete agreement which, according to you, would have to be signed in order for you to pay Eric and I what amounted to a small token of our agreed upon price.

13. We left and blacklisted your IP, and changed all passwords.

Todd, you tried to rip us off. As you already stated above, you tried to infiltrate our web host to take software which was not legally yours. It was wholly your intention from the beginning to do exactly what you did, as evidenced by your previous forays working with Jim the Bitcoin Blogger. He's too nice, and doesn't want to make waves, but I tell you, sir, you have not made anyone who's met you personally believe that you are sane, or worthy of trust.

You never paid for the work, Todd, and you alienated both myself, Eric and Jared at playNtrade. You blame everyone else for your problems, and when people try to step up (like I tried to) to help you, you always find a way to manipulate and lie your way into negative relationships. I knew something was wrong when your daughter, Maria, came into the garage and told both Eric and myself "you're my daddies slaves. you work for him. he's better than you."

Eric and I both looked at each other with concerned looks.

Further, from day 2 both Eric and I were aware that you were obviously recording and possibly keylogging. Completely aware, Todd. Still, I was on the Todd boat, and figured that you had a good reason (?) to be so paranoid. As we went on, your complete ignorance of how Bitcoin actually works, and your half baked Libertarian oddness started to paint a clearer picture of who you are, Todd. You hold an MBA and went through the whole program at UCI alone, because nobody would let you be in their group. You got forcibly removed and put in jail for coming back to campus after the dean told you that your lifetime auditing privileges were revoked because of suspicious and offensive behavior toward students and faculty.

Todd, I got involved because I fucking LOVE Bitcoin, and we were SO EXCITED to get involved in what we thought would be a really cool project. We followed through and did so despite your constant badgering, interference and steady supply of soul crushing jabs, arrogance and unpredictable behavior. We followed through and made it happen in 6 days, sir. You have been without software for months now, with no end in sight. You never needed 35k for Bitcoin ATM, sir, you only needed a good heart, some humility and a community spirit which you have demonstrated a marked lack of.

I felt such empathy for your Bitcoin love and need of assistance, and wanted to see you succeed. You broke my heart, Todd.

Best to you and yours, sir.

-Jonathan

[Edit]

One thing to note: Residing on the BitcoinATM Kiosk is every bit of source code that he'd need to run the BitcoinATM right now. We simply turned off the remote host, webserver, which we had to use because Todd provided no internal development resources, servers or networking management. He's had the software the whole time, but doesn't know how to run a LAMP stack.

You didn't need to try to hack into atmco.in, Todd. You only had to set up a webserver on the machine, which we'd have happily shown you, but you didn't want to pay us, and you tried to strong arm and manipulate us, so we walked.

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March 25, 2013, 09:29:30 AM
 #58

Open letter to Todd,

I was introduced to you through Jared Turner of PlayNTrade. I remember him talking about you, and the numerous warnings that you weren't "normal" in any sense of the word. He insisted that I'd just "understand" when I met you. As you'll recall, Jared brought Eric and I in to meet you and check out the Bitcoin ATM, and you were against a rock and a hard place. Remember? Jim the Bitcoin Blogger had been working with you to develop the Bitcoin ATM v1. Though I don't know the whole story, the pieces that I heard were as follows:

1. You promised Jim something that you didn't deliver on

2. Jim disabled your software for either non payment, or because you didn't adhere to the agreement you'd reached with him. This was a warning sign.

3. When we met, you quickly offered up the world, dangling the carrot of "ownership" in the BitcoinATM idea to both Eric and myself.

4. I told you straight away that equity was off the table, that neither I or Eric had any interest in ownership.

5. We agreed on a fee to completion. We had 6 days to rebuild the software to run BitcoinATM.

6. On day 2, you had a conversation with Jared at PlayNTrade, and had a falling out.

7. The day after, a friday, I drove up to San Clemente to meet with Jared and ask him whether he wanted your device in his store.

8. It was readily apparent that Jared was uncomfortable with the reality of a Bitcoin ATM in his place of business. There are probably a number of reasons.
a. No defined ownership on his part, even though he paid for half of the Kiosk.
b. No registered corporation, no money services business license either State or Federal
c. Grey area legal status of Bitcoin itself
d. Lack of legal structure, opinion or adequate legal representation
e. No funding
f. Lack of popular interest in the Bitcoin concept i.e. too early

9. I previewed the BitcoinATM video / interview from digivid media, (you know - the one which had interview questions that I prepared for the interviewer to ask you) to Jared et al on a trip to san clemente, trying to get him excited toward BitcoinATM being in his place of business (playNtrade). However you were still "negotiating". Jared felt 50% was fair for his name, experience and his internal and personal resources to be put on your project.

You were LUCKY to have someone who knew your nature be so nice. He was offering up 50% for his and his resources time to get BitcoinATM in as many locations as possible.

10. Half way through (4 days) I was concerned that you weren't going to pay us on completion. You insisted that you were in negotiations with Jared, but he made it perfectly clear that you'd alienated him, and that you were acting in a very imbalanced way. I concurred. As it stood at that point, Jared told me to press on, and let me know that he'd pay me if you didn't.

11. I found "Cool As Ever Tech Show" and got you to sign up. It was a good place to showcase our work, and your BitcoinATM. As you'll recall, the video crew showed up there, too.

12. The stress of working with you caused me to start having panic attacks, which triggered my latent heart condition, supra ventricular tachycardia. I had to go to the hospital and everything. I came over the next day to pick up our check, and that's when we had our confrontation. You lead with your power move - i.e. you presented both Eric and I with a non compete agreement which, according to you, would have to be signed in order for you to pay Eric and I what amounted to a small token of our agreed upon price.

13. We left and blacklisted your IP, and changed all passwords.

Todd, you tried to rip us off. As you already stated above, you tried to infiltrate our web host to take software which was not legally yours. It was wholly your intention from the beginning to do exactly what you did, as evidenced by your previous forays working with Jim the Bitcoin Blogger. He's too nice, and doesn't want to make waves, but I tell you, sir, you have not made anyone who's met you personally believe that you are sane, or worthy of trust.

You never paid for the work, Todd, and you alienated both myself, Eric and Jared at playNtrade. You blame everyone else for your problems, and when people try to step up (like I tried to) to help you, you always find a way to manipulate and lie your way into negative relationships. I knew something was wrong when your daughter, Maria, came into the garage and told both Eric and myself "you're my daddies slaves. you work for him. he's better than you."

Eric and I both looked at each other with concerned looks.

Further, from day 2 both Eric and I were aware that you were obviously recording and possibly keylogging. Completely aware, Todd. Still, I was on the Todd boat, and figured that you had a good reason (?) to be so paranoid. As we went on, your complete ignorance of how Bitcoin actually works, and your half baked Libertarian oddness started to paint a clearer picture of who you are, Todd. You hold an MBA and went through the whole program at UCI alone, because nobody would let you be in their group. You got forcibly removed and put in jail for coming back to campus after the dean told you that your lifetime auditing privileges were revoked because of suspicious and offensive behavior toward students and faculty.

Todd, I got involved because I fucking LOVE Bitcoin, and we were SO EXCITED to get involved in what we thought would be a really cool project. We followed through and did so despite your constant badgering, interference and steady supply of soul crushing jabs, arrogance and unpredictable behavior. We followed through and made it happen in 6 days, sir. You have been without software for months now, with no end in sight. You never needed 35k for Bitcoin ATM, sir, you only needed a good heart, some humility and a community spirit which you have demonstrated a marked lack of.

I felt such empathy for your Bitcoin love and need of assistance, and wanted to see you succeed. You broke my heart, Todd.

Best to you and yours, sir.

-Jonathan

[Edit]

One thing to note: Residing on the BitcoinATM Kiosk is every bit of source code that he'd need to run the BitcoinATM right now. We simply turned off the remote host, webserver, which we had to use because Todd provided no internal development resources, servers or networking management. He's had the software the whole time, but doesn't know how to run a LAMP stack.

You didn't need to try to hack into atmco.in, Todd. You only had to set up a webserver on the machine, which we'd have happily shown you, but you didn't want to pay us, and you tried to strong arm and manipulate us, so we walked.


Too bad you stole thousands of bitcoins off "investors' in the ringcoin ponzi scheme.

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March 29, 2014, 04:21:50 PM
 #59

We are glad to announce first permanent Bitcoin ATM of Switzerland!
It is an Lamassu ATM and it is locatet in downtown Zurich, in Cafe Schoffel, Schoffelgasse 7, 8001 Zurich.

Cafe Schoffel also is accepting Bitcoins (As one of the first Restaurants in Switzerland).

Please drop in, when you are in Zurich.

Virtual currency is the "Next big thing" after the Internet...
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September 02, 2014, 10:06:33 AM
 #60

to hard to imagine how atm's will "kill" bitcoin
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