Mrbitco.in ATM Collective starts to sell Litecoin today

[Cryptopher]

as mentioned in the OP and many times during this thread, the machine is one way only, you can buy btc with your euro, not sell btc for euro.

Can you imagine if it was two ways. People would be stood at the machine all day trading away, using it as their own personal exchange. Imagine the disputes between people in the queue!

I really don't see that happening, as the maker of the ATM probably has it set to sell its BTC to customers at slightly higher than average market prices, and buying BTC from customers at slightly lower than average market prices. So the profit margin is probably absorbed by the ATM makers or whoever runs it.

As far as the coffee shop that it is next to, you really need to find a way to offer at least a temporary discount to customers paying in BTC. You (skorek) might need to absorb these costs, maybe for a month or two. But there needs to be some kind of incentive for these people to buy BTC so that they can buy coffee cheaper. Otherwise -yes BTC is cool- but "why wouldn't I just walk in with cash and buy coffee with cash?" is what these customers might think/say.

Props to you though! I hope your venture is very successful, and every other maker of BTC ATMs. Mass adoption, baby.

But this is the thing, the market sometimes fluctuates so much that even with the commission factored in, depending on how much this was, it may be viable to trade on two-way machine. Of course, the machine operator would still get their cut. Just curious to know how often it refreshes the market rate.

I imagine that market fluctuations would be smoothed by taking an average value of sorts.

Agree with the idea of slightly discounted cost of buying goods. Any form of discount is enough to make people question why that form of payment would be preferable.

[LesterTheEight]

Nice, although the Netherlands hardly needed a way to obtain bitcoin. It's probably in the top 3 of easiest places in the world to obtain bitcoin.
Anyone know the fees on this thing?

Possibly the top 1 easiest place even.

[wachtwoord]

Nice, although the Netherlands hardly needed a way to obtain bitcoin. It's probably in the top 3 of easiest places in the world to obtain bitcoin.
Anyone know the fees on this thing?

Possibly the top 1 easiest place even.

It didn't use to be. In 2011 several Dutch banks (ING NV and Rabobank) repeatedly blocked bank transfers to Bitstamp. I'm not sure whether that changed (but other methods sprung up).

[Bibop]

How can I know if the ATM only giving back BTC and can not do the opposite?

[skorek]

We can add some other coins to the ATM:

We will count your votes.

Darkcoin? NEXT? Blackcoin? Doge? etc... Which one you would like to buy at the ATM Colective?

Let Us Know...

[RepublicSpace]

Hopefully I can pay the whores with BTC soon.

[elasticband]

We can add some other coins to the ATM:

We will count your votes.

Darkcoin? NEXT? Blackcoin? Doge? etc... Which one you would like to buy at the ATM Colective?

Let Us Know...

try getting the source code & control of the software first so you can see you ATM is secure and the developers(who still control the closed software) are not copying the private keys the machine gives out.

also can I get that 0.09btc your owe me?

[elasticband]

this machine is not secure. the person operating it in amsterdam does not control the software, some eastern Europeans do. the operator has no idea what kind of mallware could ve installed on it.


do no keep bitcoins on a private key made by this machine

[elasticband]

thank you for the 0.09!

amazing how fast you sent it after I wrote here, although I have asked you several times over the last few days using conventional private means

[skorek]

We can add some other coins to the ATM:

We will count your votes.

Darkcoin? NEXT? Blackcoin? Doge? etc... Which one you would like to buy at the ATM Colective?

Let Us Know...

try getting the source code & control of the software first so you can see you ATM is secure and the developers(who still control the closed software) are not copying the private keys the machine gives out.

also can I get that 0.09btc your owe me?

Sent 0.09 BTC to 1BWFPUCUgR2sUEg3EQmPbpdr5KPmB6ibtB
ab7151a65e804b8a95e79f8b5b2e7e5f1d6aa37a0a4c81a36ba589a74c703916

i think is easier and safer to buy from public ATM then to deal with shady individuals

[elasticband]

this machine is not secure. the person operating it in amsterdam does not control the software, some eastern Europeans do. the operator has no idea what kind of mallware could ve installed on it.


do no keep bitcoins on a private key made by this machine

I am publicaly willing to retract and apologise for the above statement if I am wrong.

edit: my concern is genuine if what I write is true, if I am wrong I am sorry and my intent was never to damage reputation just warn the public of the possibilities.

[skorek]

How can I know if the ATM only giving back BTC and can not do the opposite?

Every ATM is sending BTC to your private wallet, that you are in control. So it's impossible to send them from there. Only you can do it.

[elasticband]

I retract my statement and publicly apologise!
 I was under the impression the ATM's printed "temporary" private keys to a btc address if you did not already own a wallet.

my concerns are incorrect and inaccurate, my apologies.

[unexecuted]

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

[Justin00]

drugs, hookers and now BTC wooohooo! this town has everything !

[JypsiCreme]

What is the rate bitcoin-to-cash in this ATM?

[elasticband]

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

5%

[elasticband]

What is the rate bitcoin-to-cash in this ATM?

NO bitcoin to cash via machine directly only cash to bitcoin

[Nawaytes]

This is awesome, another ATM and It's in Amsterdam now, i see those ATM starts spreading all over the world, another good news. 

I hope my country have one

[tuhangiigu36138]

Did we got exchange?