Mrbitco.in ATM Collective starts to sell Litecoin today

[skorek]

Has anyone tried to use it and knows the commision rate of a ATM?

We use rates are from BTC-e and we place 6% fee. You have to know that rates on Kraken are 9% higher. So we have the lowest rate in the industry.

[skorek]

So great news from Bitcoin ATM collective. www.Mrbitco.in

Since today, there is a second machine in Amsterdam which become operational, we just finish testing today. 3 more are already in Holland and will be ready by the end of this week. ATM are from General Bytes. We will configure all 4 ATM's to the servers in the begin of next week and they will be ready to go into big fiat money world. If you own premium location ( The Netherlands only) and you are big fun of bitcoin, lets us know. We are looking for good homes for all 4 machines.






http://www.coindesk.com/czech-bitcoin-atm-maker-general-bytes-ready-ship-worldwide/

[elasticband]

Has anyone tried to use it and knows the commision rate of a ATM?

We use rates are from BTC-e and we place 6% fee. You have to know that rates on Kraken are 9% higher. So we have the lowest rate in the industry.

false.

kraken trade fee 0.2%. = 480.55 per coin based on 479.6 + 0.2%
atm trade fee 6% = 503 per coin based on 475 + 6%

you may be more convenient if in the area and it saves the whole verification process on kraken which takes 24hrs without submitting any real documents.

your machine will and does have advantages but certainly not the lowest price in the industry. the main advantage would be for those looking to buy or sell anonymously and in a hurry without going via their bank.

[skorek]

Amsterdam Bitcoin Boulevard is comming soon.

If you want to accept BTC in your bussines just let us know. We install you www.bitkassa.nl and you will get tablet from www.bitstraat.nl to accept payments. Whole process takes 10 min.

[21pilot]

So great news from Bitcoin ATM collective. www.Mrbitco.in

Since today, there is a second machine in Amsterdam which become operational, we just finish testing today. 3 more are already in Holland and will be ready by the end of this week. ATM are from General Bytes. We will configure all 4 ATM's to the servers in the begin of next week and they will be ready to go into big fiat money world. If you own premium location ( The Netherlands only) and you are big fun of bitcoin, lets us know. We are looking for good homes for all 4 machines.

...

I never heard of this General Bytes ATMs before. Do they work similar to the Robocoin ATMs?
(in particular -> is only the buying of BTC possible or is it a two-way machine ? ) 

[ShakyhandsBTCer]

i 100% agree with you, but centralizing merchant adoption around bitpay and coinbase (any others?) is not a solution to the problem, it is just building a problem on top of a problem. Real merchant adoption of bitcoin can't happen until the price is more stable, which will probably be when people stop using Bitcoin as a store of value( i am guilty of this) and actually as a method of transacting online.

and guys we have to realize that there will be not much transactions this year at bitcoin accepting cafes or restaurants, maybe few people a months, so we are talking 100.00 maybe 200.00 euro, if there is bitcoin conferance in the city maybe more. So there is not so much risk for this small bussines to accepted and take a small risk or maybe big reward. coinbase and bitpay are concentrating on the big fishes, they are not much interested in small merchants, they just made a website for them and they charge 1% transaction fee for useing it, i think they should be free solution to this

Well, with 1% fee it's still cheaper than the card networks. However I understand that some businesses (like cafés) are get paid mainly in cash, where they don't have to pay any transaction fees - so it might seem like they're losing money.

But when you look at the problem, you'll notice accepting Bitcoin, even with a 1% fee, will drive customers to your business (maybe not many yet, but definitely some) which it would never had otherwise had - so that 1% is basically nothing compared to not having had those sales to start with.

You're being overly simplistic if you say cash does not apply fees.

Indeed if you accept cash there's no company who will charge fees on the cash, however, if you deposit the cash at the bank you will need to pay a high price (banks are not happy with cash transactions), and the cash needs to be transported securily (not cheap either), and on top of that cash is a hassle (you need to have plenty of change) and a risk (the more cash you have in your store, to more likely it is you will get robbed).

So with all those disadvantages of cash, I doubt they will see a 1% fee as a disadvantage.

There would not be any companies that will charge a fee to accept bitcoin. For companies it would be the opposite as they no longer have the costs associated with VISA/MC or the costs associated with transferring cash to the bank (this does cost companies money).

Where a percentage fee would come into play in when you are exchanging fiat for bitcoin (at an ATM, or an exchange).

[bananaeater]

Been to Amsterdam nearly 5 years ago,thats a wicked place. Coffeeshops, i still remember them... One day i will go back there and pay with Bitcoin! YAASSS!

[makebitcoin]

Very nice to see there are more ATM's popping up. I'll be sure to buy some coins when I'm in Amsterdam.

[ShakyhandsBTCer]

Very nice to see there are more ATM's popping up. I'll be sure to buy some coins when I'm in Amsterdam.

Hopefully companies (small businesses) based in Amsterdam will start to accept bitcoin in masse.

[RepublicSpace]

So does this print out euros ? or is it the other way around?

[joshraban76]

You know, I used to like the Netherlands, once they were having smoking cannabis is legal.

I like the government way of thinking there, you are adopting technology in really a fast way.

And yes, all Netherlands will be accepting bitcoin payments in masses.

But the machine look sucks to be honest, but what is important that it's fully operational.

[skorek]

More Location will be added this week to growing BTC ATM Collective in Amsterdam.

Amsterdam West Postjesweg 96 and Science Park.

www.mrbico.in

[hollowframe]

Has anyone tried to use it and knows the commision rate of a ATM?

We use rates are from BTC-e and we place 6% fee. You have to know that rates on Kraken are 9% higher. So we have the lowest rate in the industry.

false.

kraken trade fee 0.2%. = 480.55 per coin based on 479.6 + 0.2%
atm trade fee 6% = 503 per coin based on 475 + 6%

you may be more convenient if in the area and it saves the whole verification process on kraken which takes 24hrs without submitting any real documents.

your machine will and does have advantages but certainly not the lowest price in the industry. the main advantage would be for those looking to buy or sell anonymously and in a hurry without going via their bank.

I think that a lot of people will be willing to pay for the speed of buying bitcoins that ATMs can provide.

[skorek]

We can add any altcoin with an API and exchange to our 4 ATM'S from General Bytes.
#Bitcoin ATM API. #litcoin , #dogecoin any-coin ATM! Programmers, check out the API here http://buff.ly/1ny0kmc to add your coin.
https://www.youtube.com/watch?v=JRtrnNg_svA&feature=youtu.be&utm_content=buffer3ddd5&utm_medium=social&utm_source=plus.google.com&utm_campaign=buffer
https://github.com/GENERALBYTESCOM/batm_public?utm_content=buffere9d3b&utm_medium=social&utm_source=plus.google.com&utm_campaign=buffer

[IIOII]

Wow, I've never seen this ATM model before.

I think it has the best design of all models I've seen. Simple and clean.
To me it doesn't matter that it's a one-way only machine: In future nobody will use fiat anymore, so it doesn't matter.

[osmotic]

So does this print out euros ? or is it the other way around?

If it gives out notes then it can compete with the bureaux de change rip off fees. There always seems to be at least 20 cents difference between what they buy at and sell at.

[skorek]

Which altcoins would you like to buy at Bitcoin ATM Collective?
We value your opinions.

[Coin919]

How many Bitcoin ATM they have now? 

[elasticband]

So does this print out euros ? or is it the other way around?

If it gives out notes then it can compete with the bureaux de change rip off fees. There always seems to be at least 20 cents difference between what they buy at and sell at.

at a 5-7% commision the ATM's charge i would stick to the conventional currency exchange.

[skorek]

How many Bitcoin ATM they have now? 

3 are placed in Amsterdam, we have 3 more waiting for nice location.

You know some let Us know:

www.mrbitco.in