Development Discussion: A LOW COST BITSHARES ATM

[bitcoin42]

@bitcoin42 : it would be pleasure to assist you on ATM package design .. don't know how to say it better...don't hesitate to contact my anytime if you'll have any question graphic related!

Hi,
I only saw this now! This is currently where I am at: www.simplicitiy-kiosk.com
Is this offer still valid?
Best,
Alec

[BunkerChainLabs-DataSecurityNode]

http://bitcoin42.com/blog/can-you-believe-its-almost-here/

Sorry. Website was down. Reposted the status.

We are still working on it. We want to ship it as flawless as we can. We're planing on a leasing contract as well, to make entry level even lower.

It's going to be the bomb!

Best,
Alec

Awesome!

[cass]

@bitcoin42 : it would be pleasure to assist you on ATM package design .. don't know how to say it better...don't hesitate to contact my anytime if you'll have any question graphic related!

[cass]

thx for your update great progress !

[bitcoin42]

http://bitcoin42.com/blog/can-you-believe-its-almost-here/

Sorry. Website was down. Reposted the status.

We are still working on it. We want to ship it as flawless as we can. We're planing on a leasing contract as well, to make entry level even lower.

It's going to be the bomb!

Best,
Alec

[fuzzy]

Please feel free to brainstorm.

Since that this kind of ATM could have a receipt, why not consider having a receipt lottery?
I think receipt could further encourage people to use this ATM and go on ramp besides the burning mechanism built inside BitShares.
And different formula for receipt lottery could be tried: tiny prizes with lots of winners (and higher expectation to win), or large prizes with only a few winners.

This is a great idea if implemented correctly.  Also, make sure to use the winners to advertise your project.

You probably want to make the pay outs be few but large, yet you need to balance that with the ability to pay out on what I'd say would be a weekly basis.  Then make sure to interview the winner each week whenever possible and use that content to make it seem like there is a higher chance of winning than there really is.  If you think about it, that is one of the main things marketing does--cues repetition and emotion-inducing stimuli along with a product. 

Winning a large amount seems more likely if all you ever see is content showing how much people win.  Add onto that a recruitment program that increases the payout as more people join and volume cme to the system, and maybe you have a winner. 

Behavioral Hueristics my friends...one of the reasons I see most of marketing as a game of illusionists' creation.  Much prefer education

[luckybit]

Please feel free to brainstorm.

Since that this kind of ATM could have a receipt, why not consider having a receipt lottery?
I think receipt could further encourage people to use this ATM and go on ramp besides the burning mechanism built inside BitShares.
And different formula for receipt lottery could be tried: tiny prizes with lots of winners (and higher expectation to win), or large prizes with only a few winners.

[Akado]

The link above is still not working.

[luckybit]

I've been following this for a while, great idea, strategically significant.

Whats going on? How is it progressing?

[liondani]

Error establishing a database connection

[Krills]

We got some news for you guys...

check this out:

http://bitcoin42.com/blog/teaser-low-cost-lightweight-atm-coming-soon/

database error?

[bitcoin42]

We got some news for you guys...

check this out:

http://bitcoin42.com/blog/teaser-low-cost-lightweight-atm-coming-soon/

[devlux]

It's core feature will be conversion of MPA to fiat and vice versa.

That's what I was hoping to hear. That's absolutely great.

Just to make sure I understand it correctly:
Case 1: pay-in
I insert some fiat banknotes into the ATM, enter my TITAN name and the machine sends MPA funds to my BitShares account (which I'll immediately see in my BitShares wallet on my mobile phone).
Case 2: pay-out
The ATM displays its TITAN name and I send some MPA funds to this name (using BitShares wallet on my mobile phone) and the machine pays out fiat banknotes in return.

Is this one of the possible workflows of your ATMs?

No but thank you for that.  I was trying to figure out the best way to close that loop and you gave me the simplest idea.  I'll work on that as soon as the bitshares wallet finishes syncing up.

[麥可貓]

Please feel free to brainstorm.

Since that this kind of ATM could have a receipt, why not consider having a receipt lottery?
I think receipt could further encourage people to use this ATM and go on ramp besides the burning mechanism built inside BitShares.
And different formula for receipt lottery could be tried: tiny prizes with lots of winners (and higher expectation to win), or large prizes with only a few winners.

[jsidhu]

My twitter feed brought up a case recently in NYC where a dude selling BTC was asked to meet in a car where they pulled a gun out and made him transfer his BTC.  Which goes to show why if you are to do person to person transfers, stay in a starbucks or somewhere that dampens the risk of being robbed.  Or carry a gun and be ready to use it and roll the dice !!

sucker is the guy who wants to sell his btc nevertheless in a randoms car.

[fuzzy]

I'm not a big fan of crypto ATMs.  It's legacy technology for a 1950s economy.  I imagine a better solution would be something like an Uber for money.  Alice travels to a foreign country and needs to exchange bitgold for local currency.  She pulls up the Uber for money app on her phone and finds someone at the airport who is willing to do this exchange.  The future will probably look more like that IMO.

[gamey]

My twitter feed brought up a case recently in NYC where a dude selling BTC was asked to meet in a car where they pulled a gun out and made him transfer his BTC.  Which goes to show why if you are to do person to person transfers, stay in a starbucks or somewhere that dampens the risk of being robbed.  Or carry a gun and be ready to use it and roll the dice !!

[karnal]

I'm not a big fan of crypto ATMs.  It's legacy technology for a 1950s economy.  I imagine a better solution would be something like an Uber for money.  Alice travels to a foreign country and needs to exchange bitgold for local currency.  She pulls up the Uber for money app on her phone and finds someone at the airport who is willing to do this exchange.  The future will probably look more like that IMO.

Meeting completely strange people from the internet to exchange lots of moneis in a new, exciting, unknown country.

You may be on to something!! /s

[gamey]

I'm not a big fan of crypto ATMs.  It's legacy technology for a 1950s economy.  I imagine a better solution would be something like an Uber for money.  Alice travels to a foreign country and needs to exchange bitgold for local currency.  She pulls up the Uber for money app on her phone and finds someone at the airport who is willing to do this exchange.  The future will probably look more like that IMO.

Having manual labor with a phone albeit smart is less "legacy" ? 

[bitcoin42]

I'm not a big fan of crypto ATMs.  It's legacy technology for a 1950s economy.  I imagine a better solution would be something like an Uber for money.  Alice travels to a foreign country and needs to exchange bitgold for local currency.  She pulls up the Uber for money app on her phone and finds someone at the airport who is willing to do this exchange.  The future will probably look more like that IMO.

I also think crypto ATMs are way overrated. That will not be where mass adoption comes from. But if ATMs provide certain local areas with an easier way to get started, particularly for users who do not fully trust/understand how to use their own phones and computers for this, then that's great. I wouldn't subsidize development of these ATMs, but I support the concept.

ATMs have the advantage to give a secure, private, convenient and reliable, 24/7 option. Obviously it's not going to be THE thing which will bring mass adoption, but who knows?  But you guys are also forgetting that a huge amount of the world is not connected to the internet. 40% would be my guess. This is a market we are also targeting. That's why SMS low tech capability is essential for this operates, even if there ate some people who think in 5-10 years everyone will have smart phones.

[fuzzy]

Hangout tomorrow.

[donkeypong]

I'm not a big fan of crypto ATMs.  It's legacy technology for a 1950s economy.  I imagine a better solution would be something like an Uber for money.  Alice travels to a foreign country and needs to exchange bitgold for local currency.  She pulls up the Uber for money app on her phone and finds someone at the airport who is willing to do this exchange.  The future will probably look more like that IMO.

I also think crypto ATMs are way overrated. That will not be where mass adoption comes from. But if ATMs provide certain local areas with an easier way to get started, particularly for users who do not fully trust/understand how to use their own phones and computers for this, then that's great. I wouldn't subsidize development of these ATMs, but I support the concept.

[Helikopterben]

I'm not a big fan of crypto ATMs.  It's legacy technology for a 1950s economy.  I imagine a better solution would be something like an Uber for money.  Alice travels to a foreign country and needs to exchange bitgold for local currency.  She pulls up the Uber for money app on her phone and finds someone at the airport who is willing to do this exchange.  The future will probably look more like that IMO.

[fuzzy]

Hey,

I've requested a business associate of mine to take a look at this.
He supplies my start-up with a steady source of Bitcoin and is looking to diversify into ATM's.
He is a biz grad from a top tier college in America and has been working along with my team towards tapping opportunities within the emerging crypto-sphere. He is currently in Chicago and has told me he will look into this once he's back, which should be around Tuesday.



P.s - I personally don't believe ATM's alone would bring in mass adaption of bitshares, but yes - it would be a factor.
Regards

Hi,
Thanks for this. We are going to crowd fund on www.gemspace.net soon, so stay tuned.

Wow.  Reg A+ crowdfunding for international projects at GemSpace?  Didn't think of that...  I was a bit negative on Reg A+, but if you can keep the costs down on the filing fees, I'm starting to see the huge potential for mainstream/consumer startups.   Good luck.

This^

[Xeldal]

I'd like to see an even lower cost solution to start off with, where..

John Doe sits at a flea market with some bitShares signage and uses his Android phone to buy and sell Bitshares.

But the interface is so easy to use for both the customer as well as the seller, it makes it easy to do the transaction.

This way when John's done, and closes shop. All he has to do is travel to the nearest Bitcoin ATM or Bitshares ATM to feed that money back in, so he has more crypto on hand to replenish his Bitshares for the following sales day.

This way you don't need to invest in a machine to be "self serve" for people to obtain Bitshares.  This would be more of a full serve situation.

Also imagine tipping a Pizza delivery driver.  University student in his early 20's shows up.  You offer him $5 tip in cash, or $10 in Bitshares. He knows what Bitshares is, and happily chooses that instead.

I know, everybody is going to say BitUSD not Bitshares.  Ok, I still haven't bought any BitUSD until v1.0 comes out, so I still think in terms of BTS

There was actually an App for that for Bitcoin, which does exactly that. Can't find it anymore thought. Mycelium wallet has a feature like that too though. In the end, all you need is a mobile wallet really.

Abra comes to mind
https://www.goabra.com/

[bitcoin42]

I'd like to see an even lower cost solution to start off with, where..

John Doe sits at a flea market with some bitShares signage and uses his Android phone to buy and sell Bitshares.

But the interface is so easy to use for both the customer as well as the seller, it makes it easy to do the transaction.

This way when John's done, and closes shop. All he has to do is travel to the nearest Bitcoin ATM or Bitshares ATM to feed that money back in, so he has more crypto on hand to replenish his Bitshares for the following sales day.

This way you don't need to invest in a machine to be "self serve" for people to obtain Bitshares.  This would be more of a full serve situation.

Also imagine tipping a Pizza delivery driver.  University student in his early 20's shows up.  You offer him $5 tip in cash, or $10 in Bitshares. He knows what Bitshares is, and happily chooses that instead.

I know, everybody is going to say BitUSD not Bitshares.  Ok, I still haven't bought any BitUSD until v1.0 comes out, so I still think in terms of BTS

There was actually an App for that for Bitcoin, which does exactly that. Can't find it anymore thought. Mycelium wallet has a feature like that too though. In the end, all you need is a mobile wallet really.

[Tuck Fheman]

I'd like to see an even lower cost solution to start off with

https://youtu.be/OeGxEMHqmRA

Here's a How-To.

 

[crypto4ever]

I'd like to see an even lower cost solution to start off with, where..

John Doe sits at a flea market with some bitShares signage and uses his Android phone to buy and sell Bitshares.

But the interface is so easy to use for both the customer as well as the seller, it makes it easy to do the transaction.

This way when John's done, and closes shop. All he has to do is travel to the nearest Bitcoin ATM or Bitshares ATM to feed that money back in, so he has more crypto on hand to replenish his Bitshares for the following sales day.

This way you don't need to invest in a machine to be "self serve" for people to obtain Bitshares.  This would be more of a full serve situation.

Also imagine tipping a Pizza delivery driver.  University student in his early 20's shows up.  You offer him $5 tip in cash, or $10 in Bitshares. He knows what Bitshares is, and happily chooses that instead.

I know, everybody is going to say BitUSD not Bitshares.  Ok, I still haven't bought any BitUSD until v1.0 comes out, so I still think in terms of BTS

[bitcoin42]

It's core feature will be conversion of MPA to fiat and vice versa.

That's what I was hoping to hear. That's absolutely great.

Just to make sure I understand it correctly:
Case 1: pay-in
I insert some fiat banknotes into the ATM, enter my TITAN name and the machine sends MPA funds to my BitShares account (which I'll immediately see in my BitShares wallet on my mobile phone).
Case 2: pay-out
The ATM displays its TITAN name and I send some MPA funds to this name (using BitShares wallet on my mobile phone) and the machine pays out fiat banknotes in return.

Is this one of the possible workflows of your ATMs?

Exactly. The current models we operate do it that way, just a slightly different flow.

[merivercap]

Hey,

I've requested a business associate of mine to take a look at this.
He supplies my start-up with a steady source of Bitcoin and is looking to diversify into ATM's.
He is a biz grad from a top tier college in America and has been working along with my team towards tapping opportunities within the emerging crypto-sphere. He is currently in Chicago and has told me he will look into this once he's back, which should be around Tuesday.



P.s - I personally don't believe ATM's alone would bring in mass adaption of bitshares, but yes - it would be a factor.
Regards

Hi,
Thanks for this. We are going to crowd fund on www.gemspace.net soon, so stay tuned.

Wow.  Reg A+ crowdfunding for international projects at GemSpace?  Didn't think of that...  I was a bit negative on Reg A+, but if you can keep the costs down on the filing fees, I'm starting to see the huge potential for mainstream/consumer startups.   Good luck. 

[merivercap]

BTW your Bitshares PDF guide/infographic is really easy to understand.   Great job!

Yep good work
credit to Arlene Birt (abirt) www.backgroundstories.com!
She produced them assisted by community!

Great work Arlene and the community! 

[jakub]

It's core feature will be conversion of MPA to fiat and vice versa.

That's what I was hoping to hear. That's absolutely great.

Just to make sure I understand it correctly:
Case 1: pay-in
I insert some fiat banknotes into the ATM, enter my TITAN name and the machine sends MPA funds to my BitShares account (which I'll immediately see in my BitShares wallet on my mobile phone).
Case 2: pay-out
The ATM displays its TITAN name and I send some MPA funds to this name (using BitShares wallet on my mobile phone) and the machine pays out fiat banknotes in return.

Is this one of the possible workflows of your ATMs?

[bitcoin42]

wow would this be the first non-bitcoin ATM? it almost sounds too good to be true!

Actually we are operating since over a year a Multicoin ATM. It currently supports Bitcoin, Litecoin, Dogecoin and Blackcoin.

Genesis Coin Ldt offers these machines, we are resellers and we will collaborate with them, so they can add the Bts function into their models  as well.

[38PTSWarrior]

A lottery! When you use it you have a chance, 1 out of 10 maybe, to get a free drink at a bar nearby.

That it plays a bit of music when the money comes out together with blinking leds who are on the machine like stars in the sky.

[bitcoin42]

Sounds awesome!! Looking forward to everyone being creative in this thread to make the most of this project.

My only immediate question is, how will you motivate individuals to buy these and assemble them all over the world?

They can make profits with conversion fees, but also via the referral system bitshares announced to implement. The machines could also be configured to do more than instant exchange, and give therefore even more incentives. For example a Point of Sale system could be implemented.

[bitcoin42]

What will this ATM offer to a customer?
Will I be able to convert fiat to its bit-asset equivalent?

What do you suggest the ATM should offer to a customer? It's core feature will be conversion of MPA to fiat and vice versa.

This thread is a kind of "think tank", so please express your imagination here.

[bitcoin42]

Hey,

I've requested a business associate of mine to take a look at this.
He supplies my start-up with a steady source of Bitcoin and is looking to diversify into ATM's.
He is a biz grad from a top tier college in America and has been working along with my team towards tapping opportunities within the emerging crypto-sphere. He is currently in Chicago and has told me he will look into this once he's back, which should be around Tuesday.



P.s - I personally don't believe ATM's alone would bring in mass adaption of bitshares, but yes - it would be a factor.
Regards

ATMs are only one channel to get fiat into crypto, and I strongly believe that if Bitshares has several funnels to bring in the customers, either KYC compliant or not, things will be great. Even with just something like OTC trades website like localbitcoins (which someone could name localbitshares) dedicated to Bitshares and bitAssets, that's would be a very nice start.

It's a good idea to have something like localbitshares. with BitHalos double deposit escrow we could give people confidence to do OTC trades, without having to rely on a central platform and avoid regulatory burdens. However, that this will become bts compatible will take time.

But regarding the need of ATMs, we believe they are vital to on ramp the unbanked. There is a extremely huge amount of people in the world with no access to financial services, or if they have, they pay outrages fees, because the current system does not favor low income groups. That's why the importance to keep it low cost, so we can help the people who need it the most. We can literally save life's with this tech. I can elaborate on this an other time.

Double deposit escrow doesnt make much sense for localbitshares for either buyer or seller.

Op_checktimeverify may be used for trustless approach i think this doesnt hold collateral.

Can you give a reason why double deposit escrow would not make much sense in your opinion?

However it's actually off topic.

Does anyone here got ideas on features they would like to see in this atm integrated?

Please feel free to brainstorm.

[mangou007]

Could be great news 

[jsidhu]

Hey,

I've requested a business associate of mine to take a look at this.
He supplies my start-up with a steady source of Bitcoin and is looking to diversify into ATM's.
He is a biz grad from a top tier college in America and has been working along with my team towards tapping opportunities within the emerging crypto-sphere. He is currently in Chicago and has told me he will look into this once he's back, which should be around Tuesday.



P.s - I personally don't believe ATM's alone would bring in mass adaption of bitshares, but yes - it would be a factor.
Regards

ATMs are only one channel to get fiat into crypto, and I strongly believe that if Bitshares has several funnels to bring in the customers, either KYC compliant or not, things will be great. Even with just something like OTC trades website like localbitcoins (which someone could name localbitshares) dedicated to Bitshares and bitAssets, that's would be a very nice start.

It's a good idea to have something like localbitshares. with BitHalos double deposit escrow we could give people confidence to do OTC trades, without having to rely on a central platform and avoid regulatory burdens. However, that this will become bts compatible will take time.

But regarding the need of ATMs, we believe they are vital to on ramp the unbanked. There is a extremely huge amount of people in the world with no access to financial services, or if they have, they pay outrages fees, because the current system does not favor low income groups. That's why the importance to keep it low cost, so we can help the people who need it the most. We can literally save life's with this tech. I can elaborate on this an other time.

Double deposit escrow doesnt make much sense for localbitshares for either buyer or seller.

Op_checktimeverify may be used for trustless approach i think this doesnt hold collateral.

[bitcoin42]

Hey,

I've requested a business associate of mine to take a look at this.
He supplies my start-up with a steady source of Bitcoin and is looking to diversify into ATM's.
He is a biz grad from a top tier college in America and has been working along with my team towards tapping opportunities within the emerging crypto-sphere. He is currently in Chicago and has told me he will look into this once he's back, which should be around Tuesday.



P.s - I personally don't believe ATM's alone would bring in mass adaption of bitshares, but yes - it would be a factor.
Regards

Hi,
Thanks for this. We are going to crowd fund on www.gemspace.net soon, so stay tuned.

[bitcoin42]

Hey,

I've requested a business associate of mine to take a look at this.
He supplies my start-up with a steady source of Bitcoin and is looking to diversify into ATM's.
He is a biz grad from a top tier college in America and has been working along with my team towards tapping opportunities within the emerging crypto-sphere. He is currently in Chicago and has told me he will look into this once he's back, which should be around Tuesday.



P.s - I personally don't believe ATM's alone would bring in mass adaption of bitshares, but yes - it would be a factor.
Regards

ATMs are only one channel to get fiat into crypto, and I strongly believe that if Bitshares has several funnels to bring in the customers, either KYC compliant or not, things will be great. Even with just something like OTC trades website like localbitcoins (which someone could name localbitshares) dedicated to Bitshares and bitAssets, that's would be a very nice start.

It's a good idea to have something like localbitshares. with BitHalos double deposit escrow we could give people confidence to do OTC trades, without having to rely on a central platform and avoid regulatory burdens. However, that this will become bts compatible will take time.

But regarding the need of ATMs, we believe they are vital to on ramp the unbanked. There is a extremely huge amount of people in the world with no access to financial services, or if they have, they pay outrages fees, because the current system does not favor low income groups. That's why the importance to keep it low cost, so we can help the people who need it the most. We can literally save life's with this tech. I can elaborate on this an other time.

[bitcoin42]

This sounds cool. Would your company be involved/ licensed for regulatory purposes(ie money transmitter, AML,KYC) or would that fall on the customer/atm owner?

We consult in this regard, and can depending on location help with KYC/AML. But yes, it's mainly up to the operators how to handle it. But we will give them the tools to be able to comply. In most places, as long you keep tx per customer per day below 1k you have nothing to worry about.

[cass]

BTW your Bitshares PDF guide/infographic is really easy to understand.   Great job!

Yep good work
credit to Arlene Birt (abirt) www.backgroundstories.com!
She produced them assisted by community!

[Chuckone]

Hey,

I've requested a business associate of mine to take a look at this.
He supplies my start-up with a steady source of Bitcoin and is looking to diversify into ATM's.
He is a biz grad from a top tier college in America and has been working along with my team towards tapping opportunities within the emerging crypto-sphere. He is currently in Chicago and has told me he will look into this once he's back, which should be around Tuesday.



P.s - I personally don't believe ATM's alone would bring in mass adaption of bitshares, but yes - it would be a factor.
Regards

ATMs are only one channel to get fiat into crypto, and I strongly believe that if Bitshares has several funnels to bring in the customers, either KYC compliant or not, things will be great. Even with just something like OTC trades website like localbitcoins (which someone could name localbitshares) dedicated to Bitshares and bitAssets, that's would be a very nice start.

[lafona]

This sounds cool. Would your company be involved/ licensed for regulatory purposes(ie money transmitter, AML,KYC) or would that fall on the customer/atm owner?

[Xypher]

Hey,

I've requested a business associate of mine to take a look at this.
He supplies my start-up with a steady source of Bitcoin and is looking to diversify into ATM's.
He is a biz grad from a top tier college in America and has been working along with my team towards tapping opportunities within the emerging crypto-sphere. He is currently in Chicago and has told me he will look into this once he's back, which should be around Tuesday.



P.s - I personally don't believe ATM's alone would bring in mass adaption of bitshares, but yes - it would be a factor.
Regards

[imr3]

 *\(^_^)/*

[ebit]

 

[DestBest]

Dear Bitshares Community,

As announced here
www.bitcoin42.com/blog/a-low-cost-bitshares-atm-the-next-phase-of-mass-crypto-adoption/ this thread serves as an continuous, collaborative development discussion group or “open think tank”.

Please feel free to brainstorm. Despite this project has concrete ideas, this place shall serve as an large clean whiteboard.

We are looking forward to constructive in and outputs of your brains and hearts.

Best regards,
Alec from Bitcoin42

Awesome! 

[BunkerChainLabs-DataSecurityNode]

This is an exciting development... funny our market cap went up right before you posted this <putting tinfoil hat on>

 

I think the market cap increase was due to technicals.  Moving averages, MACD, etc.

I and others predicted a rise shortly before it happened, with no special knowledge of any inside info such as what the Jun plans are, ATMs, or anything else.

(It did surprise me that the rise was as big and fast as it was though).

No fair! Here you are going around in Doc Browns Delorean and the rest of us are all back of the bus.

[Ander]

This is an exciting development... funny our market cap went up right before you posted this <putting tinfoil hat on>

 

I think the market cap increase was due to technicals.  Moving averages, MACD, etc.

I and others predicted a rise shortly before it happened, with no special knowledge of any inside info such as what the Jun plans are, ATMs, or anything else.

(It did surprise me that the rise was as big and fast as it was though).

[BunkerChainLabs-DataSecurityNode]

This is an exciting development... funny our market cap went up right before you posted this <putting tinfoil hat on>

 

[Akado]

wow would this be the first non-bitcoin ATM? it almost sounds too good to be true!

[merivercap]

  

Awesome!

Was curious about the BNR and found this nice video:  https://www.youtube.com/watch?v=uv8FV2uNVrE

BTW your Bitshares PDF guide/infographic is really easy to understand.   Great job!

[Permie]

Could this be one of the first 'Powered by Bitshares' products?

With the ability for brick and mortar store to accept and store crypto denominated in bitAssets stores will begin to prefer holding bitAssets to cash or bank payments.
Not having to pay credit card fees or wait for bank transfers, BitShares makes economic sense. Once accounting features are implemented into merchant wallets businesses will be able to easily keep track of their supplies and more efficiently manage stock.

I think that merchants should be encouraged to sell their fiat cash for bitAssets. This saves them security fees. For a small %, customers who prefer privacy will sell their bitAssets for cash to a merchant. Convenience for the customer. Efficient cash management for the merchant.
The merchant could even set a dynamic price in order to balance cash-on-hand. When the tills are low set prices to encourage users to sell you cash and coins, and when the till is full set prices to encourage users to buy your cash with bitAssets. Could this functionality be coded into a bts merchant wallet and integrated with a cash-register. Or maybe a smartphone app that connects with the till somehow?

The customer can then make a quick profit. If they get a favorable rate to buy bitAssets with cash, they can instantly sell those bitAssets to their bank accounts via a gateway for a profit.
If they got a favorable rate to sell their bitAssets for cash, then the customer can spend that cash on something they were about to spend bitAssets on, but they save a small %.

Benefits all around. Particularly the shareholders!
Does this work?

[luckybit]

 

[cass]

Welcome bitcoin42!

Sounds awesome!! Looking forward to everyone being creative in this thread to make the most of this project.

 

[CLains]

Sounds awesome!! Looking forward to everyone being creative in this thread to make the most of this project.

My only immediate question is, how will you motivate individuals to buy these and assemble them all over the world?

[jakub]

What will this ATM offer to a customer?
Will I be able to convert fiat to its bit-asset equivalent?

[bitcoin42]

Dear Bitshares Community,

As announced here
www.bitcoin42.com/blog/a-low-cost-bitshares-atm-the-next-phase-of-mass-crypto-adoption/ this thread serves as an continuous, collaborative development discussion group or “open think tank”.

Please feel free to brainstorm. Despite this project has concrete ideas, this place shall serve as an large clean whiteboard.

We are looking forward to constructive in and outputs of your brains and hearts.

Best regards,
Alec from Bitcoin42