CoinStar

[Some1else0]

That's a great idea. It would be really cool if you could use Coinstar machines to convert your coins into Bitcoin, and it could just generate a QR code for you.

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[b!z]

So basically, you want a Bitcoin ATM.

[Wintermute420]

I know it has nothing to do with Coinstar, but I saw this earlier today and was thinking of it while reading this thread.

http://www.reddit.com/r/Bitcoin/comments/2l2du0/lawnmowerio_turn_your_spare_change_into/

[wunkbone]

So basically, you want a Bitcoin ATM.

Well most ATMs will not accept any kind of change (only bills). Massive amounts of change are not quite as fungible as paper bills are as change cannot easily be converted into other fiat without either putting a modest amount of effort into it or incurring some level of cost.

[cointastical]

Sorry to necrothread, but whatever.

Lesson here, eventually nearly all financial services will be impacted by Bitcoin.

Coinstar machines will start selling Bitcoin at the grocery store
- https://techcrunch.com/2019/01/17/bitcoin-coinstar-coinme

[Stedsm]

Sorry to necrothread, but whatever.

Lesson here, eventually nearly all financial services will be impacted by Bitcoin.

Coinstar machines will start selling Bitcoin at the grocery store
- https://techcrunch.com/2019/01/17/bitcoin-coinstar-coinme

Don't know how mods will react to this, but I second you on this.
What you did was good, but what the OP proposed was great as their dream turned out to reality. This is an example of how one can achieve anything even if they've got nothing but super strong will power to turn the tables and make their dreams come true. It was just a proposal 4 years back, and it's now an act that is going to take place very soon and let the Shoppers buy BTC through the supermarkets without any hurdles - this is what will drag us towards the mainstream - this is the power of a dream.

[Initscri]

Sorry to necrothread, but whatever.

Lesson here, eventually nearly all financial services will be impacted by Bitcoin.

Coinstar machines will start selling Bitcoin at the grocery store
- https://techcrunch.com/2019/01/17/bitcoin-coinstar-coinme

You're totally fine, it's relevant to the thread & and a great update.
I truly didn't expect this to happen from Coinstar itself but I'm so glad it did. OP should probably throw his BTC address out there just incase Coinstar wants to pay it forward (in case the the idea for it was received in this way by them)

[BayAreaCoins]

OP should probably throw his BTC address out there just incase Coinstar wants to pay it forward (in case the the idea for it was received in this way by them)

 

Shit in one hand and wish in the other.  The idea wasn't exactly groundbreaking...

I'm glad I didn't go through with building a machine like this.  I knew it was a bad idea because the switch over for that industry was too simple/profitable.

[Initscri]

OP should probably throw his BTC address out there just incase Coinstar wants to pay it forward (in case the the idea for it was received in this way by them)

 

Shit in one hand and wish in the other.  The idea wasn't exactly groundbreaking...

I'm glad I didn't go through with building a machine like this.  I knew it was a bad idea because the switch over for that industry was too simple/profitable.

Lol hey, it's worth a shot. I know it 99.999999*% won't happen though.

I agree w/ your second sentiment though. If another company starting something like this up, it wouldn't have been difficult for Coinstar to leverage it's existent machine/traffic & overtake the competition.

[Fabienne_ayy]

I had this idea today - and should probably try to develop it myself but that won't really happen.  So - anyway I'm just going to leave this here and see if anyone will run with it.

You know those CoinStar machines in supermarkets etc?  (in USA afaik)  They convert small change into USD for a fee of about 9% - most of them now also have the option to buy various gift cards for the full value of your change (Amazon, ITunes, various restaurants etc...)

What if someone set up a venture to sell btc this way??  It's irreversible once the customer prints out the voucher - so no worries about chargebacks etc.  You could either print out both the public and private keys on the voucher or some redemption code valid on Coinbase or Circle or some other yet to exist site.  This would never be a way to buy large amounts of btc (or even other alt coins) but pretty much everyone has at least $50 in change laying around and a good way to get people 'on the fence' involved.

Anyway - it strikes me as a good idea.  Feel free to discuss and develop it.  I really hope one day soon it's an option to convert my spare change into btc!

literally a coinstar machine...that would be crazy..

[RustyBits]

Coinstar machines will start selling Bitcoin at the grocery store
- https://techcrunch.com/2019/01/17/bitcoin-coinstar-coinme

I was moderately excited when I recently read this news a week or two ago and decided to look into it further to see where and how long it might be before one of these popped up locally for me.

So I read the article linked above, and followed an internal link in the article to a "Coinstar Bitcoin Locator Tool" (which proved to be fruitless and a waste of time) and they both seem to say that you will need to use paper money at these Coinstar kiosks to buy BTC. So unless I am missing something here, it really is just another BTC ATM (with the associated high fees) and not a place where I can dump in my bottles of spare change for direct conversion into BTC.

I suppose you can maybe convert coins into cash and then cash into crypto in a two step process, but no doubt there will be two sets of fees for each conversion.  I can reluctantly deal with one high transaction fee, but two??       My pennies might be better served to just continue sitting in the water bottle.