Bitcoin ATM - Waves Coffee House

Not the first "Bitcoin ATM in my city!" post, but certainly not the last! - Waves Coffee, Vancouver, Canada

Not the first submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Not the first "Bitcoin ATM in my city!" post, but certainly not the last! - Waves Coffee, Vancouver, Canada /r/Bitcoin

Not the first submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Not the first "Bitcoin ATM in my city!" post, but certainly not the last! - Waves Coffee, Vancouver, Canada

Not the first submitted by ImagesOfNetwork to ImagesOfCanada [link] [comments]

Not the first "Bitcoin ATM in my city!" post, but certainly not the last! - Waves Coffee, Vancouver, Canada

Not the first submitted by Psychofig to Bitcoin [link] [comments]

Using the new Bitcoin ATM in Waves Coffee Vancouver

Using the new Bitcoin ATM in Waves Coffee Vancouver submitted by ninjatune to Bitcoin [link] [comments]

Found this at waves coffee in Canada, BC. New Westminster. Seen some people posting photos of these, figured I would also!

Found this at waves coffee in Canada, BC. New Westminster. Seen some people posting photos of these, figured I would also! submitted by dlegere86 to Bitcoin [link] [comments]

Maybe a bit of comfort for anyone who is really concerned

I will post from it solely for the sake of getting this out, don't think it'll help much, but may be a bit.

I have been around (crypto) since 2013, and at that time I was in Vancouver when the first Bitcoin ATM in Canada, as well as one of the first in the world - was installed in the waves atm. I bought some bitcoin for dirt cheap back then, which is long since sold and invested into other things. I met some very interesting people at the ATM though, and made friends quick.

Soon I was invited to check out the Bitcoin Co-Op. A local spot with a bunch of enthusiasts. One of them was Gerry, Gerald Cotten - the one maaaany of you seem to have many theories on. Gerry was a young kid, maybe 19 or early 20s. Skinny, white, no muscle, but good enough looking dude with big wavy hair. Him and Michael - can't remember his last name, were working on Quadriga. Until this time, Gerry was a serial coder making a lot of different portal sites, one of which he was proud of was "cruise dude" a site with a bunch of tips on how to get deals on cruises, smuggle booze in through gift wrapped presents, etc... he made about $60 cad a month on this site.

Gerry also had some odd health issues, He would have to travel back for doctors appointments and treatments when abroad. I never knew much and never asked, because we werent that close. Just acquanitinces within the community.

Soon, Quadriga was launched. I was using CaVirtex - which was THE behemoth Canadian exchange at the time, and then Vault of Satoshi a toronto based exchange that was sooooo soooo good. Well, I put a couple bucks on Quadriga, and was one of their first clients. I've seen exchanges COME and GO over the years, and ALL the exchanges people thought would be around forever (btc-e namely) - have come and gone.

Quadriga I always trusted, and never had an issue with. Recently Ive been travelling, and only really had some loose thumbs on this reddit to see all this shit unfold. I've got some cash on there, not a ton - but enough its gonna sting if I lose it. Yeah, I'm a bit worried.

Moral of this post is that his health issues were real. Michael did depart several years ago, and Gerry and whoever the Quadriga team is have ran this exchange. Now that Gerry is gone, and I know no one who is at the helm - there is definitely cause for concern. Quadriga is likely contemplating the recoupment of trust after all this shit has went done, but they have been and could continue to be one of the premier and early days trusted Canadian exchanges. The amount of money they made and make in fees is insane, and the team would be silly to throw that all away. My gut tells me this could fall apart, but my hope tells me its too good for them to do that, and they will fix it. Its just gonna take time.

SO - best thing to do? Treat all your money / crypto on or with Quadriga right now EXACTLY as you should be treating your money in crypto "like it's money I can afford to lose / already consider lost" - it's an investment. If it goes 100% south you know in your head thats a risk you were already willing to take.

So unplug your worries, go do something else with your life and keep a distant eye on this for news or withdrawals to show up. The times I forgot about my crypto and left it, were the best. The times I kept an eye on it every day, caused the most stress and the most stupid moves.

Alright, just wanted to post that and you guys can do what you like. Peace out!



submitted by tilleuno to QuadrigaCX [link] [comments]

We've shut down the buy option at the Bitcoin ATM in Vancouver.

UPDATE: All withdrawals have all cleared! For the time being we will manually process all transactions through a personal float until a proper hot wallet solution is implemented. Thanks to everyone for the comments, suggestions, and support.
Unfortunately, due to a massive delay in processing at Bitstamp, and ZERO response to repeated contact requests from anyone in management or customer service there, we've had to shut down the buying option at Vancouver's Bitcoin ATM at Waves Coffee. We are dealing with a backlog of 45+ BTC that are "waiting to be processed" and have not been processed since as far back as Tuesday.
We will not bring the ATM back online until this backlog clears and we get a response from Bitstamp. To any customers waiting for their coins to come through we apologize for the inconvenience and confusion, and we thank you kindly for your patience. We can also assure you that you will not lose any money or coins as a result of this.
The ATM's status can be seen on the front page of www.Bitcoiniacs.com, and we will update it, along with our Facebook page, as soon as this issue is resolved.
submitted by bitcoiniac to Bitcoin [link] [comments]

A master mask maker I met last night using BTC to bypass Western Union & send money to his family of 35 in the Philippines.

I live just up the street from the Waves coffee in Vancouver, yes, the one with the first Robocoin in the world (allegedly).
I am around town quite a bit, so I stop in irregularly to see who is there. One thing I love about Bitcoin and especially having a physical location for it - is the people I meet that have been brought together by it. There is many unique, colourful individuals I otherwise likely would not have met.
Anyways, I am there last night and there is this dude, this guy.. this older dude guy in a big trench coat. He came in to use the ATM, and I am there talking with two young Bit-thusiasts. He overhears me talking and begins talking to us..
This dude guy, is a master mask creator. Telling me he has sold some of his masks for $10,000 - and now plans to accept Bitcoin for his masks and actually KEEP IT IN BITCOIN.
He goes on to tell me that he has FOURTEEN KIDS. They are all overseas, most of them in a big ass house he sends them Bitcoin to pay the rent for in the Phillipines. He says from his 14 kids, many of them have kids/families of their own, so his actual family size is 35.
He goes on to show me pictures, one of the bathroom with two big cups literally overflowing with toothbrushes. The next part of his story, warms my heart -
He goes on to tell me, that over the years he has sent some $1.5 MILLION to his family through Western union. The fees, the wait times, the hardship.. but he had no other choice. Western Union has a near monopoly on this kind of stuff - and they know it - and charge accordingly.
He says now thanks to Bitcoin, he is able to do it directly and bypass them. Now the NEXT PART OF THE STORY - really warms my grassfed heart - big time!
He goes on to tell me, that he is going to open a wallet for each of his kids and grandkids, all of them. He is going to put 2-3 BTC in EACH WALLET, and then just tuck them away... for "20 years from now" he says.
Man, I lost it! One of the BEST Bitcoin stories I've ever heard. I said $%#* stocks & bonds and go on to tell him how my grandmother, bless her non-grassfed heart, left me and my brother $2000 bonds before she left this world.. and on those bonds they would give back a staggering 1% a year, maturing in 20 years time with incremental .25% interest increases each year. $20 a year... $25 the second year.. etc...
In 20 years, I'd have enough for a sandwich cart. Not my idea of a light at the end of the tunnel now is it.
Now this dude guy, his kids, 2-3 BTC each, a couple thousand now, might potentially be millions for them later in life.
Held in their own hands, for their own futures.
Friggin' amazing. I love Bitcoin.
submitted by gfjeff to Bitcoin [link] [comments]

Help a Canadian Noob: How to get BTC from Nicehash to an ATM in my area?

This may not be the best way to withdraw the BTC i get from Nicehash, but wondering how I would do it if I wanted to.
I'm in the Vancouver, BC area, and looks like there is a bunch of ATMs or Tellers in the area where you can buy and sell BTC. I wondering if I can get my NiceHash earnings out to one of these ATMs/Tellers, the steps involved and fees along the way.
Here is the list: https://coinatmradar.com/city/170/bitcoin-atm-vancouver-ca/
I was going to ask about the Wave's in Port Coquitlam because it had the lowest fees yesterday, 3.9%, but today they are up to 5.9%. It says you buy/sell "from BitcoinAverage". I don't know what that is.
One of the other lower fee ones is Bitcoiniacs in Richmond, their fee: "Sell: 5% from Kraken"
Any info would be much appreciated! :)
Edit: I've seen other's post about going Coinbase -> Gdax -> Quadrigacx -> Bank Account, and I'll probably do that as well... but sounds like opening those accounts can take time, and my passport is expired, will have to get a new one... So trying to trace the chain to ATM's: seems it'd be easier and more anonymous, no tax man, and faster...
submitted by Mac255 to NiceHash [link] [comments]

First time at Vancouver ATM

Buying bitcoin for the first time from the ATM in Vancouver: Lunch break ride up to downtown, thank goodness it wasn't raining. Almost got lost, missed a traffic light cycle to reorient with my phone. Maybe I should have gone with narrated navigation instead of listening to a podcast. Like most of the time I am almost to my destination when I think I'm lost.
Got to Waves coffee shop. Group of middle-aged upper-middle-class people at a table discussing buying bulk cuts of beef. Couple of men in front of me fawning over the historical significance of their transaction, taking pictures with their cell phones. I knew I would have to scan my palm, but four times? Well, it wasn't that bad. I've been through rougher security. Was told to come back in five minutes.
Went and got a burrito. Came back and there was a young woman doing the full day limit of $3000 in one hundreds into the machine. I did my business, feeling like a pauper. Just five crisp new clean green 20s. Got my receipts and my new wallet. Talked to an older guy about the tech, and wished the lady good luck. Biked back to work and scribbled out this post.
Now, I gotta put it somewhere better than the flimsy thermal paper it came on.
edit link for service website for interested parties: https://robocoinkiosk.com
submitted by kleer001 to Bitcoin [link] [comments]

Vancouver, B.C.: Anonymous ATMs, Y or N? Also: Fees?

OK, haven't seen a complete list of the ATMs of Vancouver and environs, with information on how intrusive the KYC is, or how high the fees are. Excuse the messy "formatting". I'll try to keep it up to date by editing the main post. Also, I'll reply in the first post just in case that is not possible. If anyone has newer information, please post it! Thanks.
1 - Waves, at Howe and Smithe, No longer Y. Now: N, requires log-in and cell data. Palmscans. Were 5%. Now?
2 - QuadrigaCX HQ, 322 Water St. in Gastown, Y
3 - Steamrollers on Robson (at Bute), Y - although the eaters seem to be very interested in any transactions. Bitstamp + 0.3%, quite reasonable.
4 - BCIT in Burnaby, Removed, February-ish 2015
5 - 24/7 Thai Vietnamese Cuisine, 986 West Broadway (at Oak). Probably N, as it’s a Robocoin case (running General Bytes software). Was (V of S, oob) + 5%
6 - "Decentral.bangtown", Corner of Richards and 438 West Pender. Y (probably, since it's run by Quadriga CX)
7 - Beta Collective, near KGH Skytrain station, 13637 100 Ave, Not yet in service (June 22, 2015)
8 - Pacific Central Station, Gateway Newsstand, N. Requires cell data. Very high 9% fee, Cavirtex. Camera on top of machine is not in use. Yet.
9,10,11 - SFU bookstores, Van, Burnaby, Surrey. Lamassu. Y?
12 - DMAC Apple, Lansdowne Centre, Richmond. Y? N? Bitpay CAD + 5%.
13,14,15,16,17 - Waves - 2588 Main (at 10th), Vancouver 3% buy, 6% sell - 93 Lonsdale, North Van 3% - 1095 W Broadway (at Spruce), Vancouver 3% - 105 10777 University Dr. Surrey (City Point) - 180 5951 No.3 Rd. Richmond. 3% Bitnational. Y? N?
18 - Healthy Noodle House - 2716 W 4th, Vancouver. Skyhook, Y? N? Bitcoin Solutions, fee: 5%.
19,20 - PC Doctor - 106 2922 Glen Dr. Coquitlam. Cryptopick Genesis Coin Machine. Y. 3.5%. IBAY Computers 2929 Saint Johns St. Port Moody. Y. Cryptopick. 3.5%
submitted by bitocoino to Bitcoin [link] [comments]

Vancouver, B.C.: Anonymous ATMs, Y or N? Also: Fees?

Cross-posted from /Bitcoin
OK, haven't seen a complete list of the ATMs of Vancouver and environs, with information on how intrusive the KYC is, or how high the fees are. Excuse the messy "formatting". I'll try to keep it up to date by editing the main post. If that's not possible, I'll just post in the thread. If anyone has newer information, please post it! Thanks.
1 - Waves, at Howe and Smithe, No longer Y. Now: N, requires log-in and cell data. Palmscans. Were 5%. Now?
2 - QuadrigaCX HQ, 322 Water St. in Gastown, Y
3 - Steamrollers on Robson (at Bute), Y - although the eaters seem to be very interested in any transactions. Bitstamp + 0.3%, quite reasonable.
4 - BCIT in Burnaby, Removed, February-ish 2015
5 - 24/7 Thai Vietnamese Cuisine, 986 West Broadway (at Oak). Probably N, as it’s a Robocoin. Was (V of S, oob) + 5%
6 - "Decentral.bangtown", Corner of Richards and 438 West Pender. Y (probably, since it's run by Quadriga CX)
7 - Beta Collective, near KGH Skytrain station, 13637 100 Ave, Not yet in service (June 22, 2015)
8 - Pacific Central Station, Gateway Newsstand, N. Requires cell data. Very high 9% fee, Cavirtex. Camera on top of machine is not in use. Yet.
9,10,11 - SFU bookstores, Van, Burnaby, Surrey. Lamassu. Y?
12 - DMAC Apple, Lansdowne Centre, Richmond. Y? N? Bitpay CAD + 5%.
13,14,15,16,17 - Waves - 2588 Main (at 10th), Vancouver 3% buy, 6% sell - 93 Lonsdale, North Van 3% - 1095 W Broadway (at Spruce), Vancouver 3% - 105 10777 University Dr. Surrey (City Point) - 180 5951 No.3 Rd. Richmond. 3% Bitnational. Y? N?
18 - Healthy Noodle House - 2716 W 4th, Vancouver. Skyhook, Y? N? Bitcoin Solutions, fee: 5%.
19,20 - PC Doctor - 106 2922 Glen Dr. Coquitlam. Cryptopick Genesis Coin Machine. Y. 3.5%. IBAY Computers 2929 Saint Johns St. Port Moody. Y. Cryptopick. 3.5%
submitted by bitocoino to BitcoinCA [link] [comments]

Bitcoin: A BIT of a problem

My name is Joe Average. I am the 80% of people who found out about bitcoin. I found out last week that an ATM for a new type of special currency is being released in my hometown, Vancouver BC Canada. Like many others, I'm still clueless about bitcoin, despite spending my halloween weekend researching it, trying to find out whether it's a trick or a treat (sorry I had to).
In this post, I'll list what I know about it, then list the thoughts, problems, and barriers that I, and probably 80% of the population, feel about bitcoin. These things are probably most relevant to those of you bitcoin enthusiast that have a vested interest in the success of the currency/commodity, because the general public represents a population that will influence the capacity that bitcoin can have in society.
Bitcoin has many advantages. Here are the advantages that I came across in forums and news articles: -free from government influence -zero bank fees -limited resource, naturally appreciating value -relatively anonymous -intangible, convenient to carry -irreversible transactions
And here are some problems, starting from the most relevant one which probably everyone thinks of right off the bat:
1-Bitcoin or cash? Why should I bother using bitcoin? Dozens of local merchants in my area are accepting bitcoin. Wow that's great! Now I can spend 2 hours acquiring bitcoin from a private, ungoverned, unregulated exchange (more on that later) and buy a medium belgium hot chocolate from waves (great drink by the way). Paying with card or cash? No ma'am, I'm paying with BITCOIN big teethy smile, eyebrows up and down several times Ok, bust out the ipad or whatever, spend 15 minutes waiting for the cashier to grab her ipad, unlock the screen, get a network connection at coffee shop network speeds, tap the bitpay app or w/e, load the app, scan my qr code, wait for the transaction to verify, blah blah blah, meanwhile, big ass line up forms behind me and I'm the big asshole who decided to pay with bitcoin instead of cash.
Okay, in all fairness, I'm probably being ignorant to some bitcoin app out there that cuts this whole process down from 15 minutes to just 5 minutes, the time it takes to verify transactions. But if I have to use an app, that probably costs money. So now my $4.50 dark belgium hot chocolate now costs $4.65 + 5 minutes of my life.
Hmm maybe I'll just 1) whip out some cash 2) whip out my visa card and pay it off right away so I don't incur interest fees 3) pay for it with debit, my bank doesn't charge me debit fees for using my card
2-Sending bitcoin So let's say what appeals to me is that bitcoin replaces Western Union, bank transfers, etcetc. I want to send $4,000 to Alice and Bob of ABC Co., payment for their work as hypothetical people in every accounting example I've ever read. For that amount, I'd have to pay >$100 in service fees from a money company. Or I could save myself >$100 by using bitcoin instead.
Okay great! Where do I start? Download a wallet. Done, nice. Next step, synchonize 208 weeks of ledger. Great.. oh, hang on. It's been 4 hours and I've downloaded 3 weeks. What the fuck?! How long does this take.. it doesn't even tell me how long it will take or how big the file is! computer left running overnight Awesome, just 2 more nights to go then I'll be fully syncrhonized. 2 days later hard-drive is maxed out? I needed a new one anyways. 4 days and a 500GB SSD later Now I have my wallet ready to use. Time to purchase some bitcoin!
So I purchase bitcoin, send it to Bob and Alice, and since they own ABC Co., a massive enterprise, they employ an IT guy, and he is the only guy in the company who will ever understand how to securely use bitcoin. He's behind 2 juniper firewalls (for redundancy), we VPN tunnel'd the payment code over with the pass, that way I know it went to him and nothing's been compromised. Because once the funds are sent out, it's gone, there is no insurance. Which brings me to my next point:
Bottom line: requires a lot of time to SAFELY and SECURELY send bitcoin, FEE-FREE. But that's okay because I have nothing better to do. If I had kids, errands, work, non-IT hobbies to do, $40-$100 might be worth the time it takes me to research the process of sending bitcoin out properly.
3-Bitcoin wallet services There's a whole list of companies emerging to take podium position in the race of the bitcoin wallet services world. Besides setting up a bitcoin exchange (which anyone can do in their basement), bitcoin wallets are the next biggest thing in bitcoin.
In the digital world, about 3 companies take podium position in a certain thing. Like Android/Apple/Blackberry for cell phones, Windows/Apple/Linux, Chrome/Firefox/IE, etc etc. Right now, for digital bitcoin wallets, everyone's competing to be one of those 3 major companies that everyone will use. Companies like coinbase.
These companies cost money. Coinbase has a pretty impressive talent pool. Let me introduce them to you:
Barry Kwok- Holy shit, this guy has a Masters in Engineering?! No seriously, this guy is a master of engineering. He built teams of 5 to 50 people at Google (fucking google man!). This guy is the first guy on the list, how much does he make? I'd have to guess $120k
Craig Hammell- This guy built OK Cupid. I know a guy who uses that shit to get laid, it really works, so OK cupid is probably a well-established company. Because of Craig's success with OK cupid, and the fact he looks that young, I'd say he probably doesn't make that much, just a modest $90k
Olaf Carlson-Wee- Olaf does rock-climbing, enough said. $95k
Fred Erhsam- Traded at Goldman Sachs. $150k
Charlie Lee- Invented Litecoin, worked on google chrome, google play, and youtube. $120k
Brian Armstrong- This guy has experience with Fraud Prevention. Don't know why they hired him, because as everyone's been saying, you can't fraud bitcoin. Since they don't need him, he's probably an intern.
Let's run some quick numbers: Total cost of salaries: $575,000/year Other expenses including dividends to investors: $3m/year
So this company has $3.6m a year to allocate to their consumer base of 329k of wallets, and 12k merchants. That is roughly $10.56/year per wallet or merchant. (realistically, the portion of cost between wallets and merchants would be not be split equally, and of course all these figures are pulled straight from thin air, however, this is reddit, not forbes).
That is a very low amount compared to using VISA which costs merchants $0.25/transaction+monthly service fee. As we can see, bitcoin is a great! Save some money.
But here's the problem: people fraud banks all the time. That costs money. Somebody puts $10k in their digital wallet, loses it, they're going to be pissed off. They'll start demanding it back from coinbase. The day coinbase pays 1 guy $10k compensation, the day they'll have to pay everyone that loses money like that, and that $3-mil figure I gave above will be much higher, and the fees everyone has to pay will go up. If coinbase doesn't compensate, then people will be reluctant to use bitcoin for anything other than small transactions.
This means bitcoin will not have the capacity to be adopted by regular people, like me. Either I lose big chunks of money at a time, when my digital wallet gets hacked, goes missing, frauded, etc, or I lose it in smaller chunks and frequency which is similar to a bank.
So digital wallet services are just like banks. Wait, I thought the bitcoin guys were saying banks were a bad thing?
4-Inflation vs Deflation I see a lot of bitcoin enthusiasts talking economics, which really angers me. You should read some of the things they say "inflation is bad, bitcoin actually deflates, so its good" "the government can't fuck with bitcoin, so its good" "bitcoin good, so it's good". If you're a bitcoin enthusiast and discussed bitcoin economics, you probably need to trade your internet credit for some college credits. Because seriously, that is some retarded shit. For example:
Inflation is bad, bitcoin deflates = good / The gov't can't fuck with bitcoin so it's good No. Inflation is good, yes I said it and you can quote me on that. Inflation allows job creation through lowering interest rates which encourages people and businesses to buy things. When stuff is bought, things happen. And jobs are required to make things happen. So when the government sees that "hey, our economy ain't doin too well, how bout we print some of ye ol' fashioned paper dolla bills" that's a strategic move to lower the unemployment rate and increase GDP.
The US is in shambles right now for reasons beyond inflation. The #1 reason why is labour costs too much in the US. Shaquila and Billy Bob don't want to work in a factory for $12/hr, they're too in love with hollywood and liberty, thinking they're entitled to a high paying comfortable job. Half of America thinks like that. But guess what, the Chinese don't, they're happy to pick up where Shaquila and Billy Bob left off. And because of the economies of scale thanks to their large population, that ignited over night, and now the US is left with a population that doesn't want to work. There's also a bunch of other reasons like going to war, etc, but that's debatable because there's a cost/benefit of going to war (own all the oil rigs out east to pay for things because you lazy fucks can't be bothered to make money with elbow grease).
The point is, mind fuck #1, inflation is a solution to a problem that's not related to money.
On the other side of the coin, deflation IS a bad thing.
Deflation, which bitcoin is designed to do, means that there will be fewer amounts of money to spend over time. That increases the price of things. That's good for people who are holding on to bitcoin. This encourages people to spend with bitcoin less, and save more. Mind fuck #2, saving money is bad, because it reduces GDP. It reduces the need for companies like coinbase to develop and create a product for spending bitcoin in the first place. So the more bitcoin deflates, the more its value goes up, the less people spend bitcoin on shit, the less merchants see a point in accepting bitcoin, the less merchants use bitcoin, the less people buy bitcoin, then bitcoins value goes down.
5-Limited supply of bitcoins This title should read Diminishing supply of bitcoins, but it would then be misinterpreted without an explanation. Bitcoins don't diminish, they are simply unaccounted for. Meaning, if you have bitcoins, and forget the password, it is gone forever. And in case you didn't know, people are human, making them prone to mistakes. Forgetting, etc. So, over time, enough people will lose bits and pieces of bitcoin here and there. That's going to add up over the long run. Units of measure will start going to miliBits, Microbits, ultra micro bits, ultra ultra micro bits. etc. Kind of like fiat currency, it can inflate to be infinitely large, and with bitcoin, infinitely smaller.
6-Exchanges and trading When Silk Road went down, bitcoin went up. First, naturally and by way of economics, fewer bitcoin = increased value. The Silk Road guy had $26-million USD worth of bitcoin, more than enough bitcoin to raise the market price. Followed by that, we have news, and hype, which drove higher. Then the fact prices are going up, makes a nice news article, which drives it up even more. When prices went up because of the news, incentive went up. Now the prices are so high, some people have made fortunes off of it. And that makes the news too, which drives it up again even higher.
That's a great incentive if you're a bitcoin investor. Hey, the winklevoss twins have 1% of bitcoin, all you miners go use your mining pools to break into the winklevoss account and delete the fuck out of their bitcoin wallets and backup, so you can raise the market value.
Just kidding. That's a lot of work. You know what's easier? This:
1) Start your own bitcoin exchange, no fees 100% free. 2) People will start trading on it. 3) ???? 4) Profit!
Actually step 3 isn't a mystery, you set the fucking price level to whatever you want it to be. And because it's 100% unregulated, unsanctioned, not tied to any commodities, no authority, no referee, no consortium, you can do whatever the fuck you want on it.
Without authority, believing that the prices on the bitcoin exchange is set naturally by way of price and demand is like believing in religion. You just have to believe.
Of course with public exchanges, there is some level of corruption involved, but that's why people get arrested and shit. Using bitcoin exchanges doesn't have that level of protection, and it never will. You think the governments own law enforcement is going to go after guys corrupting a private stock exchange, which trades a currency that negatively impacts their own fiat currency? Unless the government is somehow benefiting from bitcoin, which it won't by design, the police will simply have a good laugh at that.
In conclusion, there's so many flaws that I can see with bitcoin. But bitcoin enthusiasts will say otherwise. If I jumped on the bitcoin train 3 years ago, I'd probably do the same thing as you: make up some backwards economic reasoning it'll succeed, some backward political reason, etc.
So Dear Bitcoin, you just don't make enough sense to us, the general population, for us to adopt you. A great substitute for currency in the underground world, but you just don't fit with us here on the mainstream. And if you did fit, you'll end up being regulated just like currency, so what's the point? You're the same shit as my cash or cards. Fuck off. -Joe Average
submitted by smoothboi69 to Bitcoin [link] [comments]

Why does the world's first Bitcoin ATM force users to provide a biometric palm scan? No doubt the NSA and FBI are happy...

I don't see why this is necessary. This issue was already raised in Vancouver. Apparently the company that owns the ATM is NOT legally required to request a biometric scan because bitcoins don't fall under the proceeds of crime/terrorist financing laws. I can only assume Bitcoiniacs could disable the palm scan if they wanted to.
And more to the point, why did the manufacturer, Robocoin, implement this technology? Do ALL BTC ATMs force users to identify themselves somehow?
You can see a demo of the biometrics at this link. http://www.youtube.com/watch?v=PFqBtvLVRpY
Vancouver discussion here: http://www.reddit.com/vancouvecomments/1pil2v/using_the_first_bitcoin_atm_in_waves_coffee_house/?sort=confidence
submitted by BitcoiniacsScan to Bitcoin [link] [comments]

What's the best way to buy bitcoins in Canada?

Coinbase doesn't do it. I would prefer some online service.
EDIT: Does the Bitcoin ATM at Waves Coffee House in Vancouver still work?
submitted by mredchi to Bitcoin [link] [comments]

Robocoin to Install World’s Second Bitcoin ATM in Hong Kong

The first Bitcoin ATM was installed in Vancouver, Canada on 29th October 2013. Robocoin first unveiled the ATM at a conference in San Jose, California during last year’s springtime. At the time Robocoin had said that four other ATM’s would be launched in December at Toronto, Montreal, Calgary and Ottawa. Today (7th January 2014) however, Robocoin announced that they would be deploying the world’s second Bitcoin ATM in Hong Kong.
According to Robocoin, they have sold nearly 50 ATM machines to operators worldwide but they are not yet in operation. Hong Kong was chosen because due to its positive response towards technological innovation. “I think Hong Kong is a very progressive environment,” said CEO Jordan Kelley. “The government takes a progressive approach to emerging technologies, and it is important to get something going in the Asian economies,” he added.
This video gives you an overview of the machine:
https://www.youtube.com/watch?v=uoiAewo5K7s&src_vid=0SidcjCLrQM&feature=iv&annotation_id=annotation_1219530905
About the Robocoin ATM:
It enables users to buy and sell Bitcoins. The ATM machine from Robocoin is equipped with biometric time locks and privacy-shielded touchscreen and has features like Wi-Fi and 3G enabled. robocoin1 The machine also accepts and dispenses cash and is international denomination ready. To avoid cases like money laundering and making multiple deposits, the ATM machine allows operation only after scanning a user’s palm. A user has a limit for depositing. “The ATM will work a bit like a vending machine for buying and selling virtual goods (Bitcoin) instead of physical goods like a can of soda,” said Hong Kong Bitcoin Enthusiast, Casper Cheng Tsz Chun. The location of the ATM has not been disclosed however.
Hong Kong’s adoption of the Bitcoin ATM gives Robocoin some breathing space. Recently the Taiwanese Central Bank & Financial Supervisory Commission (FSC) had jointly declared that Bitcoin cannot be recognized as a valid form of currency. FSC Chairman Tseng Ming Chung said that Robocoin ATM’s would be prohibited.
Whatever said and done, Bitcoin has definitely created some waves last year. It will be interesting to see what is in store in 2014 for companies of all types trying to monopolize the virtual currency. If Bitcoin ATM’s end up gaining mainstream adoption (which I believe is a high possibility), Robocoin would benefit tremendously with its advantage as the first player in the arena.
submitted by chiraagpatel to Bitcoin [link] [comments]

Waves Bitcoin ATM -- fee is 7.75% to 8.00%, right?

I tried the ATM for the first time. Fee was 7.75% to 8.00% on the sell. Has anyone else done calculations on the fees and come up with similar numbers?
ie. $20 cash on $21.60 btc (calculated value); $160 cash for $173.50 btc; where the btc calculated value is generated using Google Search "xxx btc to cad", as well as CAD price as shown on Bitcoin Android Wallet.
http://coinatmradar.com/bitcoin_atm/1/bitcoin-atm-robocoin-kiosk-vancouver-waves-coffee-house/
submitted by tangshlinger to vancouver [link] [comments]

Bitcoin ATM now at BCIT Vancouver Bitcoin Exchange  Buy Bitcoin Canada ATM - YouTube Buying Bitcoins at world's first Bitcoin ATM in Vancouver ... Bitcoin ATM Cashes in on Seattle Bitcoin ATM

The first Bitcoin ATM installed in Waves Coffee House in Vancouver, Canada, in 2013 by a Robocoin company. This machine only supported Bitcoin at the time, and you need to provide your identity by scanning your palm. A total of 81 people used the ATM on the same day and more than $10,000 exchanged. The first machine in the United States went online in February 2014 in Albuquerque, New Mexico ... Bitcoin ATM . Categories; All Posts ... Search. 8th & 8th . Tucked away in a neighbourhood community. Waves Coffee 8th and 8th is the perfect place... Read More. Rabbit Hill . Located in the heart of Edmonton Waves Coffee Rabbit Hill is one of our first... Read More. Shelbourne . In the midst of Calgary’s bustling 17th Ave, you can find a coffee house that... Read More. Springborough . Our ... The world’s first bitcoin ATM is helping Vancouver make financial history. The machine, which went into operation Tuesday inside Waves Coffee House at Howe and Smithe streets, converts bitcoins Bitcoin ATM machine in Vancouver CA at Waves Coffee House – General Bytes Installed on October 29, 2013. Status and feedback. Reported by provider just now: Online. Based on user feedback : Have not heard in a while. Score +7 Show votes Please share your experience using this cryptocurrency machine and leave your feedback (min 30, max 300 chars): ... An ATM that converts bitcoins to Canadian dollars and vice versa opened for business in a Vancouver coffee shop today, marking a world first. The kiosk, located inside Waves Coffee House at Howe ...

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Bitcoin ATM now at BCIT

Last year, Vancouver, Canada launched the world's first bitcoin ATM machine. Now, Seattle is home to the first bitcoin ATM in the Northwest U-S, making it the fourth one in the entire country. Students at BCIT are being given a chance to use Bitcoin. Metro Vancouver's second Bitcoin ATM has been installed in the SE-2 building at the Burnaby campus. So far, there aren't any businesses on ... January 2019 - The man helping my kids in this video is Gerald Cotton the Co-founder and CEO of QuadrigaCX one of Canadas first bitcoin exchanges thats still... Vancouver Bitcoin Exchange is the only place to buy and sell cryptocurrency in Canada. With better fees than Bitcoin ATMs. View our Canadian reviews online a... World's first ever Bitcoin ATM unveiled in San Diego - Duration: 1:46. ABC 10 News 31,532 views. 1:46 ... Using the new Bitcoin ATM in Waves Coffee Vancouver - Duration: 1:19. radioimaging 80,139 ...

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