The Worlds’ First Bitcoin ATM at Vancouver (Waves Coffee ...

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

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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

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

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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]

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]

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]

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]

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 Bank Run II: Buying and Using Bitcoin in Vancouver Bitcoin ATM now at BCIT Bitcoin Cash at ATM!! Skyhook Bitcoin ATM

Cryptocurrency machine is installed at Waves Coffee House in Vancouver CA. You can buy and sell BTC, LTC for CAD here. This is the world's first Bitcoin automatic teller machine. It went live in a downtown Vancouver coffee shop, allowing people to exchange Canadian cash for the digital currency at a current rate of $211.79 per Bitcoin. 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 The first Bitcoin ATM now is awailable in Waves Coffee House in Vancouver, Canada. On Tuesday 29th of October startup Robocoin (based in Las Vegas) has 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 ... The Worlds’ First Bitcoin ATM at Vancouver (Waves Coffee House) Post navigation ← Using Electrum to Create a Watching-only Wallet. UK’s First Bitcoin ATM at London Shoreditch Bar (March 2014) → Leave a Reply Cancel reply. Enter your comment here... Fill in your details below or click an icon to log in: Email (required) (Address never made public) Name (required) Website. You are ...

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Bitcoin ATM

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