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clout

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Bitshares X and ATMs
« on: February 20, 2014, 12:53:42 PM »

One of the reasons that I am particularly bullish on cryptocurrencies in 2014 is the advent of bitcoin ATM's in US. I think a compelling argument can be made for why post offices will enter into this market as well. I've seen some posts on this forum suggest that bitAssets can be bought directly as opposed to buying bts first and trading for bitAssets afterwards. I am curious how bitshares x can be integrated in these new atms, in this way competing almost on the same level as its centralized counterparts. Can an individual interact with the machines with the same security and simplicity as when using his/her current bank's atms?

Just trying to get peoples thoughts on this as it is probably one of the more essential developments that will lead to greater adoption.

Offline luckybit

Re: Bitshares X and ATMs
« Reply #1 on: February 21, 2014, 04:09:11 AM »
One of the reasons that I am particularly bullish on cryptocurrencies in 2014 is the advent of bitcoin ATM's in US. I think a compelling argument can be made for why post offices will enter into this market as well. I've seen some posts on this forum suggest that bitAssets can be bought directly as opposed to buying bts first and trading for bitAssets afterwards. I am curious how bitshares x can be integrated in these new atms, in this way competing almost on the same level as its centralized counterparts. Can an individual interact with the machines with the same security and simplicity as when using his/her current bank's atms?

Just trying to get peoples thoughts on this as it is probably one of the more essential developments that will lead to greater adoption.

I agree with you completely. After the launch of Bitshares X Dan and Stan should put a priority on getting some Bitshares ATMs installed. The more of these cryptocurrency ATMs there are the more people will ask what it is and get involved.
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Offline thistome

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Re: Bitshares X and ATMs
« Reply #2 on: February 21, 2014, 04:10:28 AM »
 +5% +5% +5% +5% +5% +5%

Offline Giga

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Re: Bitshares X and ATMs
« Reply #3 on: February 22, 2014, 06:46:59 PM »
I would love to see Bitshares ATMs popping up all around the world, crypto is truly the currency and asset class of the people. No more visits to large investment banks, appointments, long waiting hours, listening to complex explanations, signing big piles of documents and at the end of it you get a 1% return
 
All you need to do is visit a bitshares ATM (or online exchange), deposit cash and buy! And use Keyhotee to secure your ID.

So much potential, i love being part of this revolution.


Offline Giga

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Re: Bitshares X and ATMs
« Reply #4 on: February 22, 2014, 06:47:38 PM »
i also think it would be a good idea to contract low-cost ATM manufacturers to create bitshares ATMs (china or india)

Offline luckybit

Re: Bitshares X and ATMs
« Reply #5 on: February 22, 2014, 07:45:10 PM »
i also think it would be a good idea to contract low-cost ATM manufacturers to create bitshares ATMs (china or india)

I think someone from the community should do it. Whether from China or where ever it is a lot better if they know what Bitshares is and how it works.
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Offline smiley35

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Re: Bitshares X and ATMs
« Reply #6 on: February 24, 2014, 07:42:18 PM »
i also think it would be a good idea to contract low-cost ATM manufacturers to create bitshares ATMs (china or india)

I think someone from the community should do it. Whether from China or where ever it is a lot better if they know what Bitshares is and how it works.

Maybe we could get a pool going and split the profits! pay for it with our new btx in like a month from now!

Offline Empirical1

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Re: Bitshares X and ATMs
« Reply #7 on: February 24, 2014, 08:20:07 PM »
 +5%

Even 1 token ATM ASAP would be Great.

Offline yellowecho

Re: Bitshares X and ATMs
« Reply #8 on: February 24, 2014, 09:17:14 PM »
New DAC with BitsharesATM!  Get 'em while they're hot.   ;)
696c6f766562726f776e696573

Offline bytemaster

Re: Bitshares X and ATMs
« Reply #9 on: February 24, 2014, 10:30:33 PM »
New DAC with BitsharesATM!  Get 'em while they're hot.   ;)

An ATM is a vending machine, not a DAC.  Understanding the difference is the key to understanding a DAC.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline yellowecho

Re: Bitshares X and ATMs
« Reply #10 on: February 24, 2014, 10:42:42 PM »
New DAC with BitsharesATM!  Get 'em while they're hot.   ;)

An ATM is a vending machine, not a DAC.  Understanding the difference is the key to understanding a DAC.

I was just goofing about but I understand it could be confuse new readers on the forum :-[
696c6f766562726f776e696573

Offline luckybit

Re: Bitshares X and ATMs
« Reply #11 on: February 24, 2014, 10:46:04 PM »
New DAC with BitsharesATM!  Get 'em while they're hot.   ;)

An ATM is a vending machine, not a DAC.  Understanding the difference is the key to understanding a DAC.

True but we could decentralize the ownership of the ATM vending machines and share the profit. That is actually a great idea which would get us to use the ATM and market them because we'd get a share in the profit via PTS/AGS. The only barriers to doing it would be legal.

I think the idea is great and hope someone does it.
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Offline yellowecho

Re: Bitshares X and ATMs
« Reply #12 on: February 24, 2014, 10:58:32 PM »
New DAC with BitsharesATM!  Get 'em while they're hot.   ;)

An ATM is a vending machine, not a DAC.  Understanding the difference is the key to understanding a DAC.

True but we could decentralize the ownership of the ATM vending machines and share the profit. That is actually a great idea which would get us to use the ATM and market them because we'd get a share in the profit via PTS/AGS. The only barriers to doing it would be legal.

I think the idea is great and hope someone does it.


I also think its a great idea but Bytemaster is correct that it's not a DAC; DACs must be decentralized and autonomous.  The ownership of the ATMs would be decentralized but the ATMs operation would not be so it's not technically a DAC.
696c6f766562726f776e696573

clout

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Re: Bitshares X and ATMs
« Reply #13 on: February 25, 2014, 02:26:13 AM »
I see that a lot of these atms accept cash but do not accept credit cards. The greatest thing about a potential bitshares atm is that the bitasset can be printed out just like cash. Instead of being confined to printing out $20 dollar bills, one can print out any value they want. If I'm broke I can print out the $4.53 that I have left in my account. If I'm rich I can print out a $1,000,000 bill. But most likely the more practical user will print there bitAssets in what ever denomination they use most frequently.

Offline CLains

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Re: Bitshares X and ATMs
« Reply #14 on: February 25, 2014, 01:19:33 PM »
Haha yeah. Could print out gold-notes labled "Pure Gold 0.1 Gram" with the corresponding private key; likewise with Silver, Oil, USD, and whatever other assets the popular Bitshares chains have. Just decentralize the design of the notes, the production of the ATMs and their distribution and we're all set (for lawyers to poop on).
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