Development Discussion: A LOW COST BITSHARES ATM

[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.