do bitcoin ATMs really suck this much?

[jbreher]

This video highlights some of the problems that need to be fixed.

No, this video highlights that a pair of drunk bored idiots, who want to ignore all suggested courses of action, can find a way to screw themselves using any available technology.

[cozk]

Genesis1 i tried did not required anything besides 20$ bills. It gave them and took them. Not issue.

[Skoupi]

Whatever you do just don't read the comments below that video. So much stupidity...

[BitcoinLlama]

Genesis1 i tried did not required anything besides 20$ bills. It gave them and took them. Not issue.

I had a similar experience.

[jjc326]

Genesis1 i tried did not required anything besides 20$ bills. It gave them and took them. Not issue.

I had a similar experience.

It actually gave $20 bills?  I thought bitcoin "atms" only took cash and gave you bitcoins?  You can actually sell your bitcoins for cash at ATMs now?

Is this only the genesis ATM?  I know most ATMs only allow you to buy bitcoin.

[moriartybitcoin]

Bitcoin ATMs are an Orwellian nightmare .. palm scanners, fingerprints, driver license scan. Hell, soon they will be taking DNA swabs .. fuck that.

AVOID ATMs. Buy bitcoins anonymously on LocalBitcoins or an ANONYMOUS EXCHANGE!

[BittBurger]

Forget privacy issues.

The reason Bitcoin ATMs suck is because the  owners are ripping people off with the "spread" price from buy to sell.

Often times $50 to $100 or more.  

Idiots.  People's greed is what will stop Bitcoin from going to the moon quickly.

ATM company operators should make rules about this shit.  Limits.  Like ... spread can't be more than $3.00

Like a typical ATM fee.

I never anticipated that Bitcoin ATMS would be rendered useless by this.  I thought people would be able to buy Bitcoins with them.  But they can't.

-B-

[cbeast]

ETA: Actually, Idunno if anyone does BitInstant's model anymore, but going to 7/11 or whatever and filling out a WU-like form might be the better option. I don't remember what all was involved with that, but IIRC, it wasn't very invasive.

What about those little prepaid visa gift cards in 7/11?



They don't require ID scans or fingerprints to buy. In fact they don't require any personal information at all, they are technically anonymous.

I wonder if regulations allow for someone to make a Bitcoin version, if not, then won't those visa cards be used by "terrorists" to launder money too?

Forget privacy issues.

The reason Bitcoin ATMs suck is because the  owners are ripping people off with the "spread" price from buy to sell.

Often times $50 to $100 or more.   

Idiots.  People's greed is what will stop Bitcoin from going to the moon quickly.

ATM company operators should make rules about this shit.  Limits.  Like ... spread can't be more than $3.00

Like a typical ATM fee.

I never anticipated that Bitcoin ATMS would be rendered useless by this.  I thought people would be able to buy Bitcoins with them.  But they can't.

-B-

There is a $4.95 fee for a $50 card. If you buy $600 worth of cards you will pay $59.40 in fees.

[cozk]

Genesis1 i tried did not required anything besides 20$ bills. It gave them and took them. Not issue.

I had a similar experience.

It actually gave $20 bills?  I thought bitcoin "atms" only took cash and gave you bitcoins?  You can actually sell your bitcoins for cash at ATMs now?

Is this only the genesis ATM?  I know most ATMs only allow you to buy bitcoin.

Ya you can cash out bitcoins for fiat.

[freedomno1]

https://m.youtube.com/watch?v=vnm4xFC2xNo

so you have to scan your hand four times, and give them your id...and your phone number...and still pay only with cash? da fuq.

Blame the government for making all the KYC AML stuff a giant pain
It should be way simpler and this is a damn overcompliant machine.
Handscans
Photo ID

Da heck why on earth would I do this much, just have a machine that asks for photo ID done.
As for fees rental costs accounting getting compliance mumble.

[ForgottenPassword]

There is a $4.95 fee for a $50 card. If you buy $600 worth of cards you will pay $59.40 in fees.

Actually you can buy higher value cards for a lesser percentage fee than that. The largest one I've seen at a gas sation is $1,000 value though I don't remember the fee offhand. I'm sure the fee varies depending on the retailer, but they're not that expensive.

But thats beside the point. The point is you can buy these gift cards at any gas station anonymously (no personal information required), but you can't buy bitcoin from an ATM without fingerprint and ID scans due to AML. Why is that? The risks of misuse are almost exactly the same.

[cbeast]

There is a $4.95 fee for a $50 card. If you buy $600 worth of cards you will pay $59.40 in fees.

Actually you can buy higher value cards for a lesser percentage fee than that. The largest one I've seen is $1,000 though I don't remember the fee offhand.

But thats beside the point. The point is you can buy these gift cards at any gas station anonymously (no personal information required), but you can't buy bitcoin from an ATM without fingerprint and ID scans due to AML. Why is that? The risks of misuse are almost exactly the same.

In Texas $50 is the largest.

[ForgottenPassword]

In Texas $50 is the largest.

Quick Google search says you can buy a $1,000 one from Acutx Credit Union in Austin, Tx:

https://www.acutx.org/account-services/convenience/visa-gift-card

It doesn't specifically say but I don't think you need to provide ID. You can order a $500 value card from them online too. I'm sure you can get them in other places in Texas too. You can definitely buy $1,000 value visa gift cards from gas stations in other places in the US.

[cbeast]

In Texas $50 is the largest.

Quick Google search says you can buy a $1,000 one from Acutx Credit Union in Austin, Tx:

https://www.acutx.org/account-services/convenience/visa-gift-card

It doesn't specifically say but I don't think you need to provide ID. I'm sure you can get them in other places in Texas too.

Yes you can buy them online for larger amounts, but ID is required.

[ForgottenPassword]

Yes you can buy them online for larger amounts, but ID is required.

How to Purchase
Order a Gift Card online in any amount from $25 to $500. Or, visit any ACUTX location to purchase gift cards in any amount from $25 to $ 1,000.

I've bought these from plenty of gas stations and never been ID'ed (though not ones so large). I doubt they will ID you, it doesn't say they do on the website.

[cbeast]

Yes you can buy them online for larger amounts, but ID is required.

How to Purchase
Order a Gift Card online in any amount from $25 to $500. Or, visit any ACUTX location to purchase gift cards in any amount from $25 to $ 1,000.

I've bought these from plenty of gas stations and never been ID'ed. I doubt they will ID you, it doesn't say they do on the website.

I was just looking for them not long ago for using Gyft to buy them. The $50 limit and fees made it unfeasible. Even moneypaks require ID. Maybe you can get some at a bank, I never tried that but I doubt a bank would do anything without ID.

[ForgottenPassword]

I was just looking for them not long ago for using Gyft to buy them. The $50 limit and fees made it unfeasible. Even moneypaks require ID. Maybe you can get some at a bank, I never tried that but I doubt a bank would do anything without ID.

Walmart has $200 mastercard ones for a $6 fee too. Might be workable if they don't ID, 3% isn't that bad really. Though it sounds like you want BTC -> Visa which is no good unless Walmart starts accepting BTC

But the point is these seem fairly exploitable, yet we have all these ridiculous rules requiring fingerprint and ID scans to do the same thing with bitcoin.

[Jamie_Boulder]

If FedGov says that Bitcoin is property, not currency... then why do they create all the f___ing hassle just to buy some? I can go to Walmart and buy a computer for $520 in cash... so why not a Bitcoin?

Just because they won't admit it doesn't mean it isn't so, I see this as good news considering the hoops these guys had to jump through are just as bad as when you trade fiat for fiat elsewhere.

[valvalis]

The worst from bitcoin ATM is It needs forever for confirmation.
Bitcoin need faster confirmation time, especialy when using bitcoin ATM

[blumangroup]

You can always try and get away with fake cash, you know that right. It's easier on ATMs than anything else.