21–30 of 136 posts
Earlier quoted context omitted.
It's quite common for ATM's to be running Windows XP, so maybe that is why this one is doing it as well. And ATM's and POS machines running XP do still receive security updates.
Interesting, thanks for the clarification.
Really, this story does totally suck for you guys but there should be absolutely zero trust or respect for anyone selling anything related to bitcoin at the moment. You're just begging to be ripped off.
Is it such a good idea to invest in something that's built on deprecated software (Windows XP)? And to handle money, no less. I'm a layman in regards to this, but is there a valid reason to choose XP over, lets say, a LTS Ubuntu release? Maybe some PCI ruling or something like that? Just seems strange and I've had a bad vibe ever since I read it.
It's quite common for ATM's to be running Windows XP, so maybe that is why this one is doing it as well. And ATM's and POS machines running XP do still receive security updates.
wow that sounds like a horrible experience! it is unfortunate that you got stung like that. out of interest, what was the expected ROI? I mean, you sunk $25K into it. even if you were charging 5% fees - you would need half a million in transactions to break even, and that isn't including the monthly rental fee for the location. is there really that big of a demand for BTC in a pub?
Earlier quoted context omitted.
Interesting, thanks for the clarification.
This is true, you'll notice atm machines when under maintenance shows the classic XP screen. Though I do not know, why they still use that.
There's a working Robocoin ATM at Hacker Dojo in Mountain View, CA. Nobody uses it. Nor should they. 15% bid/ask spread, 5% fee.
Incidentally, the retail price for an ordinary ATM machine is $2,000 to $4,500, depending on the features ordered. A standard through-the-wall bank ATM is about $9,500. Even if you order every option from cash deposit through biometrics, they don't cost $25,000.
I've heard this from smaller retailers of all kinds of products and, as pointed out in Andrew's reply, it's complete bullshit. The company that took your money is the company you formed a contract with. Any nonsense about "yeah, but the manufacturer..." is a smokescreen designed to dodge responsibility.
(Wimpy disclaimer: this isn't legal advice and maybe it's not true if you live in Yemen or something, I dunno)
The fraud level in the Bitcoin world is so high that it makes South Florida look good. There's a working Robocoin ATM at Hacker Dojo in Mountain View, CA. Nobody uses it. Nor should they. 15% bid/ask spread, 5% fee. Incidentally, the retail price for an ordinary ATM machine is $2,000 to $4,500, depending on the features ordered. A standard through-the-wall bank ATM is about $9,500. Even if you order every option from…
But, but.... those banks know nothing about bitcoin, it's the future...
And of course, the markup is moot, because you didn't get the product.
I have the feeling that Jordan knows exactly what he's doing. The amount of $20,000 is a lot but it's not that much once you start to hire lawyers and file a suit or go into arbitration. Sounds like he's stringing them along waiting to see how much more cash they're willing to invest to recoup that $20,000.
Even worse Jordan might be setting himself up for a settlement of less than $20,000 where he keeps some of the money but knows it's a better offer for Andrew and Rajiv than hiring lawyers.
Been there. Done that. I'll never look at a purchase or legal document the same again. Jordan's got the upper hand here.