Bitcoin owners will be able to sell through the machine and you will receive a receipt and an amount of BTC will be credited to your virtual wallet. Kelley says the buying process could take up to five days. Another competitor is joining the fiber arms race in Austin. Once I punched in the code, the machine scanned my ID, compared my picture to a photo it took of my face, and then took a scan of my handprint. Click on the button below to subscribe and wait for a new Facebook message from the TC Messenger news bot. But Vance says that tech customers, with only a few exceptions, might need to work on their mustaches.
Who gets access to that data? Is that just because it's an atm? Bitcoin is inherently not anonymous since it is basically a ledger of every single transaction ever made on the network. The moment you convert to fiat using an ATM like this or an online exchange, you've compromised the anonymity of your transactions.
In finance anonymity is fundamentally incompatible with modern anti-money-laundering laws, which require you to know your customer. If bitcoin is ever to be taken seriously at a global level, it will have to meet these standards. I thought the entire appeal of bitcoin was the ability to launder huge sums of money anonymously. Appeal yes, business proposition and reason to invest in it's future They still get the required info to cover their asses though by scans of your dl, ssn, etc Fair enough, I never intended to insinuate that it doesnt The fed would outlaw any type of currency transfer mechanism that is truly anonymous, which is one of the main reasons for their earlier investigations.
I'd definitely look for compliance costs as being a main drag on the growth of cryptocurrencies over the next decade And because of it's function as a BTM, it's acting as an intermediary, which isn't exactly in line with bitcoins p2p ambitions..
It's simply another consumer option. Bitcoin itself doesn't need any of that info. Bitcoin isn't anonymous, it's just convenient to transfer since you don't need a bank account or physical currency.
All transactions are recorded though. I agree with you, but the invasion of our privacy in traditional banking services is arguably just as suck. Please check your email and click on the link to activate your profile. If you do not receive the verification message within a few minutes of signing up, please check your Spam or Junk folder.
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Gallaga - American-Statesman Staff. In Austin, Bitcoin is accepted at a variety of businesses , from hair salons to food trailers to Central Texas Gun Works. HandleBar owner-operator Brett Vance welcomed a steady stream of early-adopters and media people to see the ATM, which was set up Wednesday, but opened for business a day later. I bought a taco with Bitcoin the other day. The Lone Star State is a natural launchpad for Bitcoin, the currency of freedom and independence. Vance, who said his bar already attracts a lot of techie customers, said he anticipates that will increase.
Vance only had to provide an Internet connection for the machine, which charges a fee per transaction and is operated by Robocoin and MyLocalBitcoin.
But Vance says that tech customers, with only a few exceptions, might need to work on their mustaches. Gallaga is a technology culture reporter for tech. Sign in using your myStatesman. Please confirm the information below before signing in.
19 Feb USA! USA! We are now officially almost as good as Canada! Why? Because the folks at Robocoin are officially turning on the first U.S.-based Bitcoin ATM at the HandleBar in Austin, Texas. The ATM, placed prominently in the Austin tavern, will be much like any other ATM you've used. You walk up, put in. 21 Feb HandleBar's new Bitcoin ATM is surprisingly easy to use, and also fairly useless. The Daily Dot recounts the step-by-step experience of withdrawing funds from the Robocoin Bitcoin ATM that now. 20 Feb The Robocoin machine is housed inside downtown Austin's Handlebar, close to where many of this year's SXSW events will take place. Robocoin co-founder and chief technology officer John Russell said Handlebar's proximity to SXSW was one of the most enticing aspects of the establishment to the ATM.