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Built for Bitcoin. Next Run: Early 2014

lamassu.is

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Re: Built for Bitcoin. Next Run: Early 2014

#3

Post by brd »

julien_c wrote: post #2

What's the business model for operators/buyers of the Bitcoin machine?

"The operator of the machine, be it the distributor or individual owner is responsible for loading the machine with bitcoins. In other words, he who holds the private key."

"The operator of the machine sets the fees and ticker prices. That too is easily set via the administrative interface."

Re: Built for Bitcoin. Next Run: Early 2014

#8

Post by luke_s »

ok_craig wrote: post #5

I used one of these the other day to try to buy $1 worth of bitcoin. It spun forever and I had to leave. Don't know if it ever actually went through or not, but it should've given me a timeout message way before 5 minutes of standing there.

Really? I'm kind of amazed by this whole thing - I never thought there would be a desire to purchase bitcoins in real life with physical cash. I always thought of it more as a online thing people would do via exchanges, smart phone apps, etc.

If you don't mind me asking - Where was the machine? Why were you buying bitcoins there vs just using an online exchange?

Re: Built for Bitcoin. Next Run: Early 2014

#9

Post by liotier »

ics wrote: post #7
mikkom wrote: post #4

I'm not sure if the "compact size" is such a good thing - There is a reason why ATMs are so big.. (A junkie with a crowbar)

Internal GPS should be reasonably junkie-proof, no?

Maybe, but non-junkies will cover the antenna before they rip the device away... Which will be difficult since the internal steel vault is bolted to wherever the device stands.
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