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If You’re Still Unimpressed With Bitcoin Wait Until You See This Bitcoin ATM

Source: http://www.businessinsider.com/robocoin-bitcoin-atm-2013-9

robocoin

RoboCoin is a digital kiosk that lets its customers buy and sell Bitcoin for cash. For all intents and purposes, it’s a Bitcoin ATM.

Brothers Mark and John Russell of Las Vegas are the brains of the operation, having already run a software company that builds software powering more conventional ATMs. Russell was already an avid Bitcoiner, so building a Bitcoin ATM was just a natural extension of what they were already doing.

Here’s how it works. You put your cash deposit into the machine and either it tell it to generate a digital Bitcoin wallet for you and put your money there, or give the machine a preexisting wallet address for depositing your coins. It will print a QR code as a receipt of your transaction. About 10 minutes later, the Bitcoin network will push your transaction through, giving you access to your new Bitcoins.

If you want cash for your Bitcoins, bring your QR code back to a RoboCoin kiosk, scan it, and watch as it dispenses your physical money. Bitcoin to cash instantly, cash to Bitcoin almost instantly (consider the three- or four-day waiting period).

The Russells don’t intend to operate the RoboCoins themselves, but will instead sell the devices to operating partners for $18,500 (the price will later rise to $20,000). It’s not clear where the brothers foresee the ATMs being placed. Those who buy the kiosks will have to be smart when it comes to following financial regulations. These ATMs are essentially a money-launderer’s dream come true, but that’s hardly the point here. Where Bitcoin likely feels intractable for some, RoboCoin brings it into the physical world. Suddenly we’re dealing with Bitcoin right in front of us in terms that we understand – it’s just like any ATM you’ve used a thousand times before. It simply builds a bridge between digital and physical currency.

The first RoboCoin kiosk will open later this year in Vancouver and will spread quickly thereafter, according to the plan. The Glas! ers tell us there’s already plenty of interest. Check out the video below to see what a sample transaction looks like:

 


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Monday, September 9th, 2013 news No Comments

Groupon Deal Strands Customers In Vegas [Social Networks]

Source: http://gizmodo.com/5844103/groupon-deal-strands-customers-in-las-vegas

Groupon Deal Strands Customers In VegasSeveral Internet bargain hunters wanting to visit Vegas on the cheap found out the hard way that some deals are just too good to be true.

Several Groupon and Voice Daily Deals Users users bought round-trip bus tickets from Southern California to Las Vegas for $45. The price was great, but the trip was a mini disaster due to the negligence of LUX Ground Transportation, the bus company that provided the deal.

The problems started right at the beginning with many buses arriving hours later than scheduled or, sometimes, not showing up at all. When the buses did arrive, they brought their passengers safely to Las Vegas, but never returned to bring them home. Oops.

All’s well that ends well, though. A shuttle from another company was called in to rescue these abandoned passengers. And Groupon eventually canceled the deal and refunded customer’s money. LUX didn’t fare as well. It appears the company was operating without a business license and has shuttered its doors now that the world’s eyes are upon it. [MSNBC]


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Tuesday, September 27th, 2011 news No Comments

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

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