Are you f...ing kidding me?

[TTM]

What kind of moronic ATM is that?    Bitcoin has no fault in its incompetence

It's neither Bitcoin's fault or ATM's fault. This is because of AML/KYC policies that ATM manufacturers need to follow.

[calmindifference]

Is AML required if Bitcoin is considered by US Government to be property and not currency?

Yes, because a "property" has a value.

The same applies to every other item that a person can buy, but AML does not apply universally

[byt411]

What kind of moronic ATM is that?    Bitcoin has no fault in its incompetence

It's neither Bitcoin's fault or ATM's fault. This is because of AML/KYC policies that ATM manufacturers need to follow.

And who made these absurd laws?

The US government. They just see Bitcoin as a competitor to the US dollar and want to make the public think that it's a stupid thing.

[escrow.ms]

What kind of moronic ATM is that?    Bitcoin has no fault in its incompetence

It's neither Bitcoin's fault or ATM's fault. This is because of AML/KYC policies that ATM manufacturers need to follow.

And who made these absurd laws?

The US government. They just see Bitcoin as a competitor to the US dollar and want to make the public think that it's a stupid thing.

And people also need to understand that Bitcoin is a worldwide currency and there are several countries and currencies in this world USA, USD are not alone

[porcupine87]

What a stupid ATM. What is the goal of an ATM:
1. It should get faster.
2. Anonymity.

This shown ATM meets non of this 2 goals, so why should I use this?

And this transaction costs are insane. They sold at 620 and they got 560$ back. This is 10% fee.

There are better and faster coins than bitcoin now, bitcoin is dying and only thing keeping it afloat is the fact that it was the first. Open your eyes, come to reality, wake up from your slumber

Not really. Bitcoin should have the most nodes, therefore it is the fastest! (and most secure because of the hashrate). Confirmation time doesn't matter at the POS. Imagine buying at Waltmart and paying with Bitcoin. So with 2.5min avergage confirmation time you wait 2.5min? Or 1min? Or 30sec(I think every 10th trasnaction take longer than 1min)?

It is simple. There are two solutions:
1. Zero-confonfirmation attacks to a well connected node (trusted node) are every costly or nearly impossible. So they would only happen on high volume transactions. And I am talking about many 1000$. So if you buy car it is worth waiting 10min. Or even better: You don't buy a car anonymously and make a contract of sale. So the car seller knows your identity and can sue you if he don't gets your money. So there is not even a need to wait 10min.
2. Transactions can come from trusted (centralized) services. Imagine you pay a coffee and pay from your coinbase account. So coinbase is trusted so the transaction is safe.

In my opinion this is a nightmare to exploit the 10min confirmation time. Except you have the 50%+ network power, of course.  

[porcupine87]

Look at this one. Sold and bought within 2min. South Korea:
https://www.youtube.com/watch?v=erVehAHDueI

[Lauda]

Both guys are noobs, they should have tried to send bitcoins to someone on a fucking bank holiday.
Then they should have understood the value of bitcoins.

Add the high fees to to this too.

[escrow.ms]

Both guys are noobs, they should have tried to send bitcoins to someone on a fucking bank holiday.
Then they should have understood the value of bitcoins.

Add the high fees to to this too.

and 1-2 weeks processing time for an International Bank wire.

[zolace]

This shows how broken US regulations are. It's insane that you can't just exchange money without getting an anal probe. Use localbitcoins.com instead.

[coolbeans94]

Mintcoin. faster, energy efficient.

[Buffer Overflow]

There are better and faster coins than bitcoin now, bitcoin is dying and only thing keeping it afloat is the fact that it was the first. Open your eyes, come to reality, wake up from your slumber

Which ones exactly?

[hilariousandco]

There are better and faster coins than bitcoin now, bitcoin is dying and only thing keeping it afloat is the fact that it was the first. Open your eyes, come to reality, wake up from your slumber

Which ones exactly?

Probably the one he's trying to promote (but it's probably not faster like they say they are).

[bryant.coleman]

Which ones exactly?

Probably none. And they will get wiped out if the Bitcoin exchange rate dips further. These stupid altcoins are like tape-worms. They need a host (Bitcoin) to survive, but at the same time they weaken the host. And when the host weakens beyond a point, the altcoins will get blown away.

[heytherebaby]

This video is awesome thanks for posting it. I thought it might be a parody or something at first because of how ridiculous it is. I mean jesus christ. Compare this to a regular atm which can be a literally 20 second process. Bitcoin is so so so inconvenient. Why would an average person EVER use this atm? Why would anyone ever buy bitcoins from this atm? Why not just get some cash...? Or why not just pay with your credit card? Is it because bitcoin is anonymous and cooler? This machine takes your phone number, verifies it, takes your hand print four times, takes your picture, and takes a copy of your government ID. Is this supposed to be anonymous? Is bitcoin cooler than cash? Have you ever held stacks of 20 dollar bills, have you ever smelled mad cash? What's cooler some numbers on a screen or crisp clean dollars right in the palm of your hand. You want to talk about truly anonymous, what's more truly anonymous than cash?

Bitcoin has two or three legitimate uses:
1. Buying illegal things online
2. Gambling online
3. Paying for porn online

Now some people might say what about sending money overseas? Why the fuck would any poor person take the risk of buying bitcoin and sending it to their poor family in some poor country when one day bitcoin can be worth $600 each and literally two days later be worth $450 each? People sending money overseas are not trying to speculate AT ALL. They are just trying to send some money.

I bought into the hype myself when this whole bitcoin thing started and I made some money by investing in it. But recently my eyes have been opened. Bitcoin is a joke. Don't be a lemming. Don't speculate with your hard-earned money. Use your hard-earned cash to build some sort of online business or offline business venture, don't just dump it all into bitcoin. This is called crossing your fingers and praying for the best. It's like hoping you win the lottery.

This ATM is a freaking Joke McJoke. I can't stop laughing at how ridiculous and STUPID it is.

[e4xit]

This video is awesome thanks for posting it. I thought it might be a parody or something at first because of how ridiculous it is. I mean jesus christ. Compare this to a regular atm which can be a literally 20 second process. Bitcoin is so so so inconvenient. Why would an average person EVER use this atm? Why would anyone ever buy bitcoins from this atm? Why not just get some cash...? Or why not just pay with your credit card? Is it because bitcoin is anonymous and cooler? This machine takes your phone number, verifies it, takes your hand print four times, takes your picture, and takes a copy of your government ID. Is this supposed to be anonymous? Is bitcoin cooler than cash? Have you ever held stacks of 20 dollar bills, have you ever smelled mad cash? What's cooler some numbers on a screen or crisp clean dollars right in the palm of your hand. You want to talk about truly anonymous, what's more truly anonymous than cash?

Bitcoin has two or three legitimate uses:
1. Buying illegal things online
2. Gambling online
3. Paying for porn online

Now some people might say what about sending money overseas? Why the fuck would any poor person take the risk of buying bitcoin and sending it to their poor family in some poor country when one day bitcoin can be worth $600 each and literally two days later be worth $450 each? People sending money overseas are not trying to speculate AT ALL. They are just trying to send some money.

I bought into the hype myself when this whole bitcoin thing started and I made some money by investing in it. But recently my eyes have been opened. Bitcoin is a joke. Don't be a lemming. Don't speculate with your hard-earned money. Use your hard-earned cash to build some sort of online business or offline business venture, don't just dump it all into bitcoin. This is called crossing your fingers and praying for the best. It's like hoping you win the lottery.

This ATM is a freaking Joke McJoke. I can't stop laughing at how ridiculous and STUPID it is.

4 posts eh, figures.

[Acidyo]

There are better and faster coins than bitcoin now, bitcoin is dying and only thing keeping it afloat is the fact that it was the first. Open your eyes, come to reality, wake up from your slumber

yeah, Litecoin is coming! 

Yeah, hello asics.

[Noruka]

So, who still thinks Bitcoin is secure, fast and convenient currency: https://www.youtube.com/watch?v=vnm4xFC2xNo

This is the ATM service that makes the system longer, not Bitcoin. remember they still have to interact with the US financial system

[kodtycoon]

i can order how ever much i want on a website and ether bank transfer or cash deposit into someones personal acc and get btc in under 5 mins flat.. no ones getting my identity! :L

[Lauda]

Both guys are noobs, they should have tried to send bitcoins to someone on a fucking bank holiday.
Then they should have understood the value of bitcoins.

Add the high fees to to this too.

and 1-2 weeks processing time for an International Bank wire.

Now the real question: why isn't the average Joe seeing these benefits?

[BitcoinTees]

Have you seen this video of Quarks android wallet.

Now that is super fast! I am really impressed by this. Now I can see businesses adopting to this with ease.

One of the biggest problems and frustrations I face when talking to friends about Bitcoin is the confirmation times. We all remember the 1st time buying bitcoin and waiting for transers to exchanges. Its just not practical.

Bitcoin needs to improve its confirmation times. What do you guys think?