Bitcoin Code 2019 Review - Is Bitcoin Code A Scam?
Bitcoin Code is a bitcoin new business headquartered in Beijing. The organization makes bitcoin ATMs. Discover all that you have to think about Bitcoin Code today in our audit. What is Bitcoin Code? Bitcoin Code, discovered online at Bitcoin Code, is a bitcoin innovation organization that propelled China's first self-created two-way bitcoin ATM machine. The organization's ATMs are intended to contend with other driving bitcoin ATMs available. For what reason are Bitcoin Code's ATMs "two way" ATMs? With Bitcoin Code ATMs, you can purchase and sell bitcoins. The ATMs additionally accompany multi-money support. Furthermore, they use consistence guidelines (counting KYC/AML) to work with guidelines in purviews around the globe. At the present time, Bitcoin Code is concentrating on the Asian commercial center. Later on, in any case, the organization intends to dispatch its ATMs around the world. Today, you can arrange stands anyplace on the planet. The organization started creating ATMs in 2013. How Do Bitcoin Code ATMs Work? Bitcoin Code calls its ATMs "Bitcoin Teller Kiosks". The stands all work along these lines. You approach the ATM-formed gadget, at that point pick your language (Chinese, English, and Japanese are for the most part accessible). The machines offer a comparable encounter to what you would discover at any bank. Throughout the years, Bitcoin Code has persistently redesigned its stands with quicker speeds, better wellbeing, better security, and quicker withdrawals. At this moment, you can approach a Bitcoin Code stand and pull back your cash in 30 seconds – so you no longer need to sit tight 10 minutes for your bitcoin withdrawal to be prepared. Stores are prepared in as meager as 15 seconds. By and large, Bitcoin Code cases to offer "bank level" security at its booths. The organization made their booths in association with a maker that makes ATMs for banks far and wide. Another one of a kind thing about Bitcoin Code is that administrators can associate with significant trades by means of APIs. So you can arrangement a stand to work with a specific trade. Exchange affirmations are accessible through email, SMS, or phone. The booths likewise offer paper wallet printing. As referenced over, Bitcoin Code's booths agree to security gauges like know your client (KYC) and against illegal tax avoidance (AML), making them a reasonable alternative in locales around the globe. Bitcoin Code's AML and KYC conventions are controlled by Jumio. Bitcoin Code Pricing Ordinarily, bitcoin ATMs are estimated at around $5,000 on the less expensive end (like Lamassu) and $15,000 on the more costly end (like Robocoin). Bitcoin Code is valued right in the center at around $10,000 USD per unit. You'll have to pay additional expenses for nearby or worldwide conveyances. On the off chance that you need an additional cashbox equipped for holding 1,000 additional bills/notes, at that point you can add $500 to your request. Bitcoin Code Features Bitcoin Code promotes the entirety of the accompanying highlights on its ATM: Better after-deal administration by means of DAC framework with day in and day out help Bank-level equipment framework for productive and secure help Steady and safe implanted programming made by an expert ATM producer Zero authorizing charges for all exchanges Multi-work dashboard to give a superior client experience, including better constant control and cautions sent through SMS/email 15 seconds for exchange handling, including 30 second withdrawal times Proficient AML/KYC answers for full consistence with guidelines and solicitations HD huge LCD screen that takes into account the situation of altered logos and ads Multilingual activity framework accessible in Chinese, English, or Japanese Supports various monetary standards Supports confirmation by means of phone, SMS, and email Paper wallet generator Broad cashbox equipped for fitting 1200 notes (standard arrangement) or 4000 notes (most extreme limit); you can likewise buy an extra cashbox for $500 Programming interface accessible to associate the booth to primary cryptographic money trades Bitcoin Code Tech Specs A portion of the key specialized particulars behind Bitcoin Code include: Measurements: 1766mm (H) x 587mm (W) x 560mm (L) Weight: 60kg Household Shipping: Wooden Container (2100mm x 800mm x 700mm) Worldwide Shipping: Vacuum Packaging (2000mm x 700mm x 600mm) Money Box: An extra money box is accessible for $500 USD (each money box fits 1000 bills/notes) About Bitcoin Code Bitcoin Code is authoritatively enlisted at Bitcoin Code Technology Development Co Ltd. The organization was established in 2013 by Xiaoning Nan. They're situated in Beijing, yet in addition have activities in Japan. BITCOIN CODE Conclusion Bitcoin Code is a two way bitcoin ATM accessible in Asian markets. As a two way bitcoin ATM, a Bitcoin Code booth allows you to purchase and sell bitcoin. The ATM highlights APIs you can use to interface with significant trades. There's additionally a huge presentation where you can include your image. Other key highlights incorporate paper wallets, KYC/AML support, multi-money support, and multi-language support (in Chinese, Japanese, and English). Bitcoin Code stands are evaluated in the mid-scope of bitcoin ATMs. They're not the least expensive, nor are they the most costly. You can hope to pay about $10,000 before transportation. https://www.cryptoerapro.com/bitcoin-code/
My experience with the various Bitcoin ATMs (Robocoin, Lamassu, Bitcoin Briefcase)
So this month I got the chance to interact with various Bitcoin ATMs - I played a bit with Robocoin today, and tested out Lamassu and the Bitcoin Briefcase during Money2020 event. So here are my thoughts on them as well as some other information people are interested in. So first of all, Robocoin. It's the only one of those that both sells and purchases Bitcoin. The process is a bit cumbersome to start (having to scan your hand a few times to create an account and wait a few minutes for a mechanical turk to verify that it's in fact the right hand and so forth), but after that it's pretty straightforward. Some people were concerned about the palm scanner (both online and at the location). The developers of the ATM explained that they need to do that since they need to limit one person from buying more than $3k worth per day so they don't fall under AML regulations. They had a choice of scanning your ID, or fingerprints or the palm and they chose the last one since there isn't a database for palms that would link that scan to your identity. Given the restrictions they had to work with, I don't think that was a bad choice. At the same time I know a lot of people are very security conscious and would rather avoid that altogether - both sides of the argument have their fair points. I talked a bit with the developers of Robocoin as well as listened in to one of my friends ask them some interesting questions about security and other things. All in all I must say they came off as very competent people. They know their technical things, as well as various regulatory issues (for example apparently if someone prints a paper wallet on the machine, loads it up and then sells / gives it to someone else that's creating a derivative market and technically you shouldn't be doing that). As for the machine itself, I would say it's a little crude at the moment. Since it has so many widgets, scanners and so forth it's easy to get lost in the process of using it. I definitely would like it refined over a few iterations. Other than that, it does everything you'd expect it to do - you can load up your phone wallet through QR scanner, create a paper wallet on the spot if you don't have a wallet yet, and you can buy and sell bitcoins as needed. Apparently the ATM does Bitstamp rate +3% (I might be wrong about the exact exchange, but I know it's not the Canadian VirtEx, since they were quite unresponsive in communicating with the developers). While the rate might not be that great in comparison to some other ways of getting BTC, but in Canada it's not entirely unreasonable with VirtEx charging pretty high fees by itself. So overall, Robocoin is an interesting ATM with some good developers behind it, but it needs some more work put in to streamline the experience. Now about the other two ATMs. Lamassu is a bit of opposite of Robocoin. It has a small and elegant form factor, has just a camera QR scanner, a deposit slot and a display monitor. You can only buy bitcoins with it. Since it has limited options on what it does, the process is quite straightforward - put money in, scan address and send bitcoins. I don't know how they will be handling the AML regulations - it will be an interesting thing to see what their approach will be once they start releasing their ATM into the wild. Bitcoin Briefcase has neither the elegant form of a Lamassu nor the versatility of Robocoin, but it's a fun little hack to carry around to get people interested in Bitcoin. It only takes change and pays out into a paper wallet it prints. It has a small display bar, a slot to put coins in, a wallet printer and a button to accept your purchase. It's not really a tool for frequent Bitcoin purchases, but definitely an interesting prop to bring along with to introduce people to Bitcoin easily. So overall, it's really interesting to see what is being developed in this space. Robocoin is a big machine that might not fit everywhere, so it needs it's own dedicated space in some Bitcoin-accepting business. Lamassu is elegant and small enough to be placed on some extra bit of counter space available. The Briefcase is a neat hack that you can take wherever you go.
The ALCEDO-Platform contains all functions necessary for handling any and all crypto transactions. The ALCEDO-Ecosystem (platform) can handle different types of crypto machines, wallets and coins. Due to the fact that we programmed and developed this system, we can implement new features quickly and easily, anytime. We continuously improve the system, and that represents a focal point of our project. We source our crypto-vending machines (2-way) from reputable manufacturers (GeneralBytes, Lamassu). By integrating the machines into the ALCEDO-Platform, we can also integrate other crypto machines. The independence from the manufacturers guarantees an efficient and cost-effective trade at our ALCEDO-Points. The K-ATM’s run with a specially developed API connection (different from anybody else) and thus we have the latest crypto prices for buying and selling. We also offer the exchange of crypto currencies in fiat money (Euro) and vice versa. All transactions are recorded in the database on the ALCEDO-Platform and provided by request. #ALCEDO #Blockchain #Investing #Alcedoico #TokenSale #Crowdsale #Bitcoin
Ecuador effectively ban bitcoins - brand new Lamassu ATM machine for sale!
We sent out a request of information regarding Ecuadorian bitcoinpolicies to the central bank of Ecuador since we recently have imported the first Lamassu bitcoin ATM machine into the country. You can read the responses from the Ecuadorian Central Bank and the Superintendencia de Bancos y Seguros here: https://www.mediafire.com/?lbmdn0677s8tx1e So Ecuador are following in the footsteps of Bolivia and have decided to effectively ban every business model that has to do with Bitcoins and seize total control of the money system. The central bank will launch their own "electronic money"-system based on the USD later this year. So right now we need to get rid of the Lamassu ATM-machine. It's completely new. I can ship it with FedEx anywhere in the world. And it can be picked up in Quito, Ecuador as well. Taking bids on the machine, will sell to highest bidder! Price new was $5000 and it was a 3 month waiting time to get it delivered. If you buy it from me, you will have it sent straight away with FedEx or any other courier you wish to use. It is possible to do escrow on the deal as well. Who am I? I used to sell bitcoins on localbitcoins under the name BitcoinsEcuador : https://localbitcoins.com/accounts/profile/bitcoinsecuado Until someone hijacked my localbitcoins-account, so the account has unfortunately been banned, but you can search for BitcoinsEcuador on the localbitcoins forum and those posts will explain the situation surrounding the hijacking. I'm back on localbitcoins as bitcoinsecuador2 : https://localbitcoins.com/accounts/profile/bitcoinsecuador2/ If you contact me and are interested in buying the machine I can give you more verification of my identity. Matthew at Lamassu is also aware of our situation regarding the ATM, you can talk to him as well. [email protected] For more information on the Lamassu bitcoin ATM read more on https://lamassu.is E-mail: [email protected]
Bitcoin ATM Global Market Overview By DOBI ATM The BitLicense aroused a big buzz when the a big ATM operator Coinsource announced its granting of BitLicnese, a virtual currency trading license for cryptocurrency trading service; As reported from Cointelegraph, it took 3 years to be granted since the first application to New York Financial Securities(NYFS). This obviously indicates the advancing development of Bitcoin ATM industry since the first Bitcoin ATM came out in Vancouver, Canada on 29th October 2013.
Overall Global Data
After about 5 years development, bitcoin ATM industry sees increase in market capital and maturity. Bearish Bitcoin price meet downturn though, Bitcoin ATM is growing continuously in installation, capital, distribution and the manufacturer. The latest statistic from CoinatmRadar( the biggest bitcoin ATM data research institution) reported that there are 3949 bitcoin ATMs in total worldwide until Nov. 05, 2018. Although increasing speed declines with the sluggish bitcion market, we can still see 1849 ATMs increased with 89% growth rate from 2079 ATMs to 3927 in 2018. Now, the crypto ATMs installation speed rises to 6 machine per day. It’s estimated to reach a figure of $16.3 million of market capital in 2018 https://preview.redd.it/drmennyhpow11.png?width=660&format=png&auto=webp&s=4187176abc3f5d892911085a894fb5cc40d089c7
Industry：Continuous Increase in installation, profit, manufacturers
Distribution of bitcoin ATMs across Continents:
The wide awareness of bitcoin and cryptocurrency promote the bitcoin ATM adoption cross the world. It’s no strange that North America and Europe share the large percentage since the economic and population provide the best environment for the use of bitcoin ATM by the majority. https://preview.redd.it/3vu1hoyipow11.png?width=648&format=png&auto=webp&s=d0bc39d87d17032f5f7fd3e16ed46e0320d2788b A study conducted by MarketsandMarkets reported that the Bitcoin ATM market will see annual growth of 54% between 2018 to 2023, when the whole industry is forecast to reach $145 million.
Incredibly Increasing High Profit When Emerging Market’s Struggling
In bitcoin ATM, the profit is mainly from transaction fee with an average of 7%-10% both in buy side and sell side. It’s reported a bitcoin ATM machine comes with $10k to $30k transaction a month with the highest reaching to $100k. The average transaction is 130 times per machine per month. Coindesk even reported Lamassu's survey of $1,000–$3,000 each month earning which equates to annual earnings for ATM operators of between $12,000 and $36,000 per unit.
Increasing Bitcoin ATM Manufacrture:
The growing awareness of bitcoin also attracted many investors into Bitcoin ATM business. The biggest bitcoin ATM tracking Radar coinatmRadar reveals 42 typical bitcoin ATM manufacturers and 31 Bitcoin ATM service operators globally. DOBI ATM, as the biggest bitcoin ATM manufacuter in Chinawas also listed. It’s a newly but of great potential to in digital currency payment solution. It’s obviously seen from the market share below that Genesis Coin, General Bytes, Lamassu, BitAccess and Coinsource dominant the industry, though. Some newly manufacturer startups also see great potential. https://preview.redd.it/uhxd302kpow11.png?width=525&format=png&auto=webp&s=687460579650812e21808a736231931baf193855 DOBI ATM as highly potential newcomers is striving to provide everyone easy access to buy ans sell bitcoin in hardware solution and software development. Supported by the a capital group , Currently there’s over 200 business-to-business operators worldwide and now is the biggest Bitcion ATM manufacurer in China
Seeing from the whole cryptocurrency industry chain, there are mining, digital currency exchange, crypto wallet, media and services field, token release company and payment field. Cryptocurrency exchange functions most important for its huge power in liquidity and profitability. There’s no doubt the blockchain technology will overturn the whole world revelutionary after 10 year’s development since the release of Bitcoin Whitepaper by Satoshi Nakamoto.; And no one would suspect the financial role cryptocurrency is playing, especially in payment field. Bitcoin ATM can both work as an alternative for exchange and payment solution for daily life. It surely see great market confidence. DOBI ATM still holds that only project with practical solution in real world that survives at last. Bitcoin ATM just helps the adoption of wide use of bitcoin in daily payment among the ordinary. Let’s witness how the cryptocurrency and bitcoin ATM industry expand.
Withdrawing crypto over the past few years has been a challenge, a lot of users have found troubles in going through an exchange. Some users unfamiliar with the mechanics of exchanges, others finding it a lengthy process of exchanging, selling and withdrawing from their bank accounts. The hassle was intensified when some countries came out to ban exchanges, making it near impossible for hodlers to see a flow of cryptocurrency come into their bank accounts through the means of an exchange. This has put strain on a lot of cryptocurrency users, some being liable for paying tax according to their governments. The South African government has stated that they seek to file cryptocurrency assets under the label of secondary income, a bold statement they have yet to move on; this statement in itself is bizarre, this would mean that they would also tax residents for holding a physical USD in their homes. Bitcoin, Dash, and all the other cryptocurrencies are currencies that are digitized; specific to their number sequences, same as any other currency. Due to all the tension of the unknown, users have taken it upon themselves to skip the middleman. Enter, crypto ATMs. Growing the adoption rate There are more than 3700 cryptocurrency ATMs worldwide, America having access to more than 2000. ATMs have managed to make their way into every continent, including third world countries like South Africa, Zimbabwe, Ecuador, and Ethiopia. Third world countries adopting crypto is revolutionary; their status has been put down by other, more finically powerful countries and now they seek to break free of the worlds hold and be their own leaders. Zimbabwe, for example, had a dictator-like leader who held political power for just short of forty years; his reign saw a steep drop in their currencies value, 2 billion Zim Dollars for a can of coke; this in inflation. When the ruler lost control of his capital due to military intervention and citizens revolting; the price of bitcoin was well over the international standard by about 2000 USD, this was due to the large buy orders of a currency offering samaritans a path to financial freedom outside their third world country. Bitcoin and crypto are growing, users are seeking a means to escape a system governed by the 1%. Crypto ATMs are a means of eliminating bank waiting times, unfair taxation and the system. Users can deposit and withdraw from these ATMs simply and speedily. You would put your money in the ATM, the ATM would then show a code which you would scan via your mobile phone and thus your bitcoin balance would be boosted with the amount you deposited. Withdrawing is as simple as scanning a barcode off your mobile app which contains your encrypted bitcoin balance, you would then specify how much you would like to withdraw then you would receive your bitcoin in the shape and form of your local currency cash. The more countries that adopt these ATMs will lead more people into adopting cryptocurrency, strengthing the ecosystem built around cryptocurrency. There are a variety of ATM providers, the top three being Genesis Coin, General Byte and Lamassu. You don’t need to buy an ATM to withdraw your bitcoin though, find an ATM near you: https://coinatmradar.com/
Yesterday, CoinWallet.eu conducted a stress test of the Bitcoin blockchain. Not only was our plan to see the outcome, but also to see how easy it would be for a malicious entity or government to create havoc for the Bitcoin community. As you will see from the analysis below, delayed transactions are not the only issue that Bitcoin users experienced. Surprisingly, executing tens of thousands of transactions that correctly propagate to the network simultaneously is not as easy as we had expected. One of the methods that was used to increase the kb size of our transactions was to send transactions consisting of numerous small outputs (usually 0.0001) to make a single transaction of 0.01. A simple transaction is usually 225-500 bytes, while many of our transactions were 18 kb (A number which limits the blockchain to 5 transactions per minute). In our preliminary testing this was effective, however in practice it caused our servers to crash. Throughout the day and evening, our strategy and methodology changed multiple times. Initially the plan was to spend 20 BTC on transaction fees to flood the network with as many transactions as possible. Due to technical complications the test was concluded early, with less than 2 BTC spent on fees. The events of yesterday were accomplished with less than €500. Timeline
11:57 GMT - Transaction servers initiated. Thousands of 700 kb transactions completed within the first 20 minutes. Transactions were used to break coins into small 0.0001 outputs.
12:30 GMT - Servers begin sending larger 18kb transactions.
14:20 GMT - Our servers begin to crash. It becomes apparent that BitcoinD is not well suited to crafting transactions of this size.
14:30 GMT - Our test transactions are halted while alternate solutions are created. The mempool is at 12 mb.
17:00 GMT - Alternate transaction sending methods are started. Servers are rebooted. Mempool has fallen to 4mb.
21:00 GMT - The stress test is stronger than ever. Mempool reaches 15 mb and more than 14000 transactions are backlogged. The situation is made worse by F2Pool selfishly mining two 0kb blocks in a row.
23:59 GMT - 12 hours after starting, the test is concluded. Less than 2 BTC (€434) is spent on the test in total.
The following graph depicts the entire test from start to finish: https://anduck.net/bitcoin/mempool.png Observations Delayed confirmation times and large mempool buildups were not the only observation that came from our testing. Many more services were impacted than we had initially envisioned. Blockchain.info Over the past few months, Blockchain.info has become increasingly unreliable, however we are confident that yesterday's stress test had an impact on their website being offline or broken for 1/3 of the day. During periods where we sent excessive transactions, Blockchain.info consistently froze. It appeared as though their nodes were overwhelmed and simply crashed. Each time this occurred, the site would re-emerge 10-30 minutes later only to fail again shortly thereafter. Users of the blockchain wallet were unable to send transactions, login or even view balances during the downtimes. In response to our heavy Bitcoin usage, blockchain.info began to exclude certain transactions from their block explorer. This issue is explored further by the creators of Multibit, who can confirm that some transactions sent from their software were ignored by Blockchain, but were picked up by Blockr. Bitcoin ATMs Many ATMs operate as full nodes, however some ATMs rely on third party wallet services to send and receive transactions. The most prominent Bitcoin ATM of this type is Lamassu, which uses the blockchain.info API to push outgoing transactions from a blockchain.info wallet. Due to the blockchain.info issues, all Lamassu ATMs that use blockchain.info's wallet service were unavailable for the day. MultiBit Both versions of MultiBit suffered delayed transactions due to the test. Gary and Jim from MultiBit have created a full analysis from Multibit's perspective which can be read at https://multibit.org/blog/2015/06/23/bitcoin-network-stress-test.html The outcome was that transactions with the standard fee in Multibit HD took as many as 80 blocks to confirm (Approximately 13 hours). Standard 10000 satoshi fee transactions took an average of 9 blocks to get confirmed. Multibit has stated that they will be making modifications to the software to better cope with this type of event in the future. Tradeblock With Blockchain.info broken, we frequently referred to Tradeblock to track the backlog. Unfortunately Tradeblock was less than perfectly reliable and often failed to update when a new block had been mined. Regardless, at one point 15,000 unconfirmed transactions were outstanding. Bitpay Users reported issues with Bitpay not recognizing transactions during the test. Price Increase of $2. Contrary to some predictions, we did not short Bitcoin. Green Address While this app was not hindered directly by our test, we did send a series of 0.001 payments to a green address wallet. When attempting to craft a transaction from the wallet, an error occurs stating that it is too large. It appears that the coins that were sent to this wallet may be lost. Conclusions From a technical perspective, the test was not a success. Our goal of creating a 200mb backlog was not achieved due to miscalculations and challenges with pushing the number of transactions that we had desired. We believe that future tests may easily achieve this goal by learning from our mistakes. There are also numerous vulnerable services that could be exploited as part of a test, including Bitcoin casinos, on-chain gambling websites, wallets (Coinbase specifically pointed out that a malicious user could take advantage of their hosted wallet to contribute to the flooding), exchanges, and many others. Users could also contribute by sending small amounts to common brain wallets. We also learned that the situation could have been made worse by sending transactions with larger fees. We sent all transactions with the standard fee of 10000 satoshis per kb. If we had sent with 20000 satoshis per kb, normal transactions would have experienced larger delays. In our future stress tests, these lessons will be used to maximize the impact.
I believe that securing a debit card that is available in the United States for Dash should be our community’s top priority. What makes Bitcoin stand out? People can actually spend Bitcoin, since over 100,000 merchants now accept it and there are plenty of Bitcoin debit cards available to appease the ones that don’t. Right now I buy Bitcoin and send it to my Coinbase wallet and spend it through my Shift Visa card but this is not my preference. I would much rather purchase Dash instead and spend it from a Dash debit card. I believe in the Lamassu ATMs and Dash Evolution but none of these advancements will have the immediate impact of a Visa debit card offering in the United States. Thirty one percent of Master node owners reside in America therefore it is not unreasonable to assume that approximately thirty one percent of all Dash users also live in this country. That means one third of the most affluent members of our community have no access to Dash debit cards. Imagine the increased demand for Dash that having a U.S. based debit card would create, not to mention the positive publicity it would generate in the media. These things could only have favorable effect on the Dash‘s currently slumping price. I believe our business development team should be actively seeking to secure partnerships with companies like Shift or any other debit card company located in the U.S. to offer this service to our community. Remember we have the funds to pay for the integration so it would not have to cost that company anything. They pick up a bunch of new customers and it costs them absolutely nothing. That’s a pretty sweet deal for them if you think about it. It shouldn’t be a tough sell. I hope the ones with the ability to make this happen such as Ryan Taylor and Daniel Diaz will read this post and make an effort to get this done very soon. Anyone who agrees with these statements please remember to up vote this post so that the previously mentioned Dash executives will see that the community strongly supports this idea. Also, any reader comments on this topic would be greatly appreciated.
[FORHIRE] Have a lot of free time on your hands? become a Human Bitcoin ATM!
Hey guys (and gals!), I want to start a new thing in the bitcoin world: human ATM's (yes, I know that ATM is actually "Automated Teller Machine", but you know what I mean) going around the streets of major cities and in airports to exchange Bitcoins for local fiats. Buying and maintaining an actual Bitcoin ATM is something I've been considering ever since I've met up with Zach from Lamassu earlier in 2013, but the overhead of doing just that seems way too demanding. My ideal Bitcoin ATM would be a two-way ATM that you can put anywhere and it will just sit there and will trade fiats for coins as long as people use it, without the intervention of the owner (operator) for long periods of time. But even if there was such a machine (there is such a machine in fact), you'd still need to find a physical place to put it, and you'd have to make it very robust and hard to steal/break. That's when I started thinking about simplifying the idea of the Bitcoin ATM: There are tons of unemployed people globally, and they could start doing exchanges manually anywhere on the planet. The only issue with this, is the legality of it all - since every country has it's own laws regarding exchange of currency (regardless of it being digital or cash), and sometimes there are restrictions on a more localized scale for cities and states. Anyway, here's what I'm offering considering all of the above: I will provide you with a small number of coins to exchange on the street, you will use a designated wallet so that I can track every exchange that takes place. The exchange would be a certain margin from the current price, something along the lines of 5% - 10%, we'll see what works best. You and I will split profits 50%-50% - so whatever you make - half is yours. Want to sell 15% above market price? buy 20% below it? Your thing, your choice, your income. Please note that I cannot offer any kind of legal protection or advice on the matter, you'll have to either research it yourself in your own state of residence, or take a risk. In any case, there is no "employer-employee" relationship going on between us, I will only supply the bitcoin for you to exchange.
A smartphone device - Android type preferably
Knowledge of operation a bitcion wallet on your device (sending and receiving coins)
Major advantage: you can act as a bitcoin advocate explaining bitcoin to those who are interested to learn
Physical proximity to major population areas (central bus stations, train stations, airports, night clubs, business areas, etc')
Ability to physically take care of yourself and avoid of physical danger (you'll be carrying some cash and some coins and practically advertising that fact, you don't want to be in a situation when you're not able to protect yourself)
Since we're all redditors and I can't really verify your identity here, and I will be putting my own money on the line, I will be asking you to provide me with your physical address and real name, and your facebook profile to verify that you are who you say you are. If you don't have facebook, Github or twitter account could be used as well, but these will have to be more carefully checked.
You'll have to print a T-shirt saying "I AM A HUMAN BITCOIN EXCHANGE" in prominent and clear typeface, and additionally wear a orange hat with the Bitcoin logo (the hat is optional, but I think that in the long run it can be a uniquely identifying symbol which will be used globally by "huamn bitcoin exchanges"). Since I don't want to track people individually, the compensation is in the form of a profit sharing. If you do your job, and you see that you no longer need my bitcoins to operate, feel free to detach from me and operate your own business with no additional strings attached. My aim here is to make a quick profit for myself and those who will work with me, but in the long run it's something that I'm sure can operate globally and without a central "manager". The more people will do this, the more prominent the effect will be, the more people will know that there are human exchanges available on street corners everywhere, hence increasing the value of Bitcoin itself and the value of using bitcoin (since I won't need to exchange my fiats in country A when traveling to country B, I'll only need to carry a small amount of bitcoins with me). P.S. I urge anyone else who wish to supply coins to "human bitcoin exchanges" to either join in this thread or open new ones (or whatever works for you). The demand for something like that I believe is huge, and the more competition this has, the better off are everyone.
4/16/14 Video News - Nick Szabo as Satoshi, Mt. Gox liquidates, ATMs in Brazil & China
Video: http://www.moneyandtech.com/apr16-news-update/ Today's top news stories for you in Money & Tech: The mysterious Satoshi Nakamoto has been found… again. A group of forensic linguistics experts at Aston University lead by Dr. Jack Grieve have analyzed the original Bitcoin whitepaper, comparing it to the writing of 11 individuals previously thought to be Satoshi Nakamoto. Their conclusion: former law professor Nick Szabo is the primary author of the whitepaper and therefore the probable creator, or one of the creators, of bitcoin. As Dr. Grieve put it, “The number of linguistic similarities between Szabo’s writing and the bitcoin whitepaper is uncanny... though we can’t rule out the possibility that others contributed."" The Tokyo District Court today dismissed Mt. Gox's proposal for a civil rehabilitation proceeding, despite the recent offer from a group of industry investors to purchase and resurrect the company for the price of one Bitcoin. Instead today, Mt. Gox filed for liquidation in Tokyo court, which the exchange admitted “will create great inconvenience and concerns to our creditors for which we apologize.” At the same time, Gox CEO Mark Karpeles has filed an emergency motion to push back his US court appearance until May 5th, which could threaten the continuation of Karpeles' US bankruptcy protections, and provide US class action lawsuit attorneys the time to do more research and build their case. The President of the U.S. Federal Reserve Bank of Minneapolis expressed interest in digital currency at a town hall at North Dakota State University on Tuesday, saying its main interest lies in its ability for speedy payments between individuals, ”as opposed to a new currency that’s going to drive the U.S. dollar out of circulation.” This statement comes days after an economist at the Federal Reserve Bank of Chicago acknowledged that bitcoin is a “remarkable technical achievement”, and VP at the St. Louis Fed called bitcoin “a stroke of genius“. Latin America's first bitcoin ATM landed in Brazil on Monday, at a Sao Paulo bar already accepting Bitcoin, and blocks away from international offices of Facebook, Google, J.P. Morgan and Goldman Sachs. The new Lamassu machine allows locals to convert their Brazilian Real into Bitcoin, and offers businesses like the Sao Paulo bar an option to operate without the high transactions fees typical of local banks. In China, BTC China has installed the country's first bitcoin ATM machine as promised, located in a cafe at a mall in Shanghai, allowing people to physically change Chinese yuan into Bitcoin for the first time. The Bitcoin Foundation and Blockchain.info have co-created the first annual Blockchain Awards to celebrate innovation and excellence in the Bitcoin community. The awards ceremony will be held in Amsterdam on May 16th at the Bitcoin 2014 conference. Nominations will be accepted today through May 6th for categories such as, Most Impactful Charity, Best ATM Design, and Bitcoin Champion. Money & Tech’s Perianne Boring attended the recent Inside Bitcoins New York conference. We’ll be bringing you her interviews with notable industry figures this week, starting today with Blockchain.info CEO Nicholas Cary and Cryptsy CEO Paul Vernon, available here shortly.
Selling Lamassu Trofa (Gen1 Kiosk) due to NYC bitlicense uncertainty
A friend of mine bought Lamassu Trofa ATM couple of months ago to install in NYC location. However, because of bitlicense uncertainty and potential licensing cost he has decided to sell it. It comes with a stand and the ATM itself is in like brand new condition. Anyone interested PM me. I will send you a photo and we can discuss the price. Product Description Lamassu Bitcoin Vending Machine. Used (Like New condition) robust, solid and secure one-way vending facility for dispensing Bitcoin located in New York. Unit is at home. Will ship to anywhere in the US. No international shipping is offered. We can discuss the cost of shipment separately. Enables 30 second transactions; scan QR, pop in cash, get verification • Lamassu branded unit – Gen1 original model • Configurable for any currency • 600 note capacity • Power cable • 2 keys He will provide you with contact details of Lamassu support team and make the introduction. Will accept Bitcoin/Wire transfeCash
Lamassu Bitcoin ATM for Sale $500 OFF (NEW & Skip the 2-4 month queue)
Hey guys, I ordered a Lamassu Bitcoin ATM and I am about to get it delivered; however, I had a change in plans since I am now traveling the world on bitcoin money so don't have a stable home where I can manage it. Which means I have a EUR currency Lamassu ATM (language: English) that is ready to be shipped to me. The wait time on these is normally between 2-4 months but mine is ready to be shipped so you skip the queue! Neal from Lamassu will serve as a proxy to faciliate the transaction meaning that the bitcoin would go through Lamassu and you would still have to sign a purchase agreement with them so don't worry...your bitcoin will be safe :) You will still have to pay cost/frieght to Lamassu which I assume should be EUR200-300 if its within the EU but depends where you want it to be shipped. That was NOT originally included in the price. -Commissions and transaction limits can be set to anything you would like. -Interface language is English. -Weight: 53kgs, Box: 65cm x 50cm x 50cm -Model: Cash to BTC only These normally go for $5,000. I am willing to sell it for $4,500, which is $500 off PLUS you skip the queue; however, highest bid wins as you are skipping the queue so there is the huge added benefit of you getting your hands on it immediately. PM me please if you're interested... Cheers!
I recently checked the prices of average ATMs and they cost between 2000 and 5000 dollars. How come a lamassu costs 5000. Conzidering the fact that it can only sell bitcoins it should cost much less. Are we paying a premium for development costs ? Are the prices going to decrease dramatically in the future ?
Bitcoins ATMs are Having a New Trend - skyhook for sale in Melbourne.
This was posted yesterday at http://www.newsbtc.com/2015/07/14/bitcoins-atms-are-having-a-new-trend/ "A lot of Bitcoin ATM machines are being installed all over the world. This year all along and in relation to the same period last year, the installation of Bitcoin ATM devices has doubled. A new report from Coinatmradar suggests that a new trend has attracted entrepreneurs to start installing Bitcoin ATM machines in prime location all around the world. This has been creating new opportunities while it has brought a lot of new people to the industry. Currently, there are 119 bitcoin ATM machines running in the U.S. making it over 300 Bitcoin ATM devices scattered around the globe. But with the rising trend, by next year, the number may well be in the thousands. Promoters claim earning potential for machines providing the new bitcoin service is actually quite high. The most well-known manufacturers of bitcoin ATM machines are BitAccess, BitXatm.com, Coin Outlet, General Bytes, Genesis Coin, Lamassu, Robocoin and Skyhook. With Bitcoin ATMs, people are able to easily deal with Bitcoin alongside traditional money as an easy way of buying and selling bitcoin while generating additional revenue for the owners. Transaction fees for buying and selling at bitcoin ATMs are about 6 percent. In addition, ATM operators can sell bitcoins at a higher price than they paid for them, which is the main attractive that is leading entrepreneurs to invest in such devices. While some online entrepreneurs, favor bitcoins because it is not regulated by governments or banks, other small business owners see the currency’s limits. Supporters claim using bitcoins is effective for selling virtual goods like software or premium content. This is because it may cut down on the cost incurred from selling in foreign markets. To make matters worse, bitcoins are also highly volatile as a currency. Still, ATM devices installed in prime locations have generated revenue of hundreds and hundreds of dollars. This has allowed fortunate ATM operators to pay off the cost of their machines in a blink of an eye. Currently, the expected ROI for ATM machines is said to be around three to nine months. If you are a bitcoin entrepreneur looking for low cash investments, Bitcoin ATM devices might be your best option!" I have a skyhook for sale. It has spent some weekends in a cafe when I work there. Unfortunately this is a quiet backstreet neighbourhood cafe with little traffic. It needs a better home and permanent installation (or not?). Near mint condition. Total cost with customs and delivery was round $1500. I will sell it on for $950 pick-up in Melbourne. Payment in bitcoin preferred of course!
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Selling 1 Lamassu Bitcoin ATM from their first run in late 2013. Most popular Bitcoin ATM on the market. Put in a prime location it can generate 35 000-45 000 Euro in transactions per month. Has only been used for demoing 1 day. Shipping from Copenhagen, Denmark. Buyer pays shipping. Price: Highest bidder 7 days from now - minimum 4500 Euro.
Bitcoin ATM location of Lamassu machines Lamassu is one of the oldest manufacturers of cryptomats and the third-largest worldwide. The company,… Producers. Genesis Coin (4081) General Bytes (3361) BitAccess (1105) Coinsource (731) Lamassu (543) All producers; Countries. United States (9176) Canada (920) United Kingdom (286) Austria (148) Spain (104) All countries; More. Find bitcoin ATM near ... Lamassu Products. The first archetype of this project came into the fray in February 2013. Back then, it was a wooden box. Since then, the device has undergone massive improvements and is now available in three different iterations; Douro. This is the most recent rendition of the pioneering Bitcoin ATM. Its simplistic, distinctive and miniature ... Lamassu Picks Switzerland for Its Well-Defined Rules. In a blog post published on Medium, the oldest Bitcoin ATM manufacturer established in 2013 explains that “after years” of searching for the best place for their headquarters, they finally found it in the canton of Lucerne, adding that:. Crypto Valley is alive and kicking and we’re excited to be in an area so rich in crypto ... Bitcoin ATMs in stock! Lamassu jump-started the cryptomats industry by creating the world’s first Bitcoin ATM. Six years later, we present a whole new generation of multi-cryptocurrency machines. The Gaia is a bare bones Bitcoin ATM, without all of the bells and whistles of our other models. We took out the vault to save cost and weight and left out 3G support and a backup battery. The components we use are not as elite as in our Sintra and Sintra Forte models, yet still robust and high quality. The result is a terrific cash-to-crypto ...
Starting a Bitcoin (ATM) business - Zach & Josh Harvey, Co-Founders of Lamassu https://www.meetup.com/Bitcoin-Meetup-Switzerland/events/238794401/ http://bit... Getting Bitcoin can't be easier - https://lamassu.is/order/ All features at a glance 6mm hardened Swedish steel vault, 2.5mm steel enclosure Advanced open source admin backend enables full remote ... This video shows you how to buy Bitcoin from a Lamassu Bitcoin ATM. Do not buy Bitcoins to send to someone else or another company you don't know. If they emailed you money, it's probably a stolen ... Demo of Lamassu's Gaia Bitcoin ATM For more info: https://lamassu.is/product/gaia Lamassu, Inc. CEO Zach Harvey demonstrates The Bitcoin Machine, an ATM that dispenses Bitcoin for cash. More from The Verge: Subscribe: http://www.youtube.co...