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3710610 No.3710610 [Reply] [Original]

Is it a good idea to open up a Bitcoin ATM?
I live in a relatively small town with a growing population of 9,000 and a HUGE tourist population. My father owns the land for various businesses around the area which gives me the opportunity for me to install a Bitcoin ATM free of rent. What do you guys think?

>> No.3710619

>>3710610

I wouldn't do it in a small town, find a large city to put it in and then advertise the shit out of it on localbitcoin or whatever

>> No.3710642

You have to stake the BTC fyi

>> No.3710658
File: 241 KB, 880x591, paper_wallet.jpg [View same] [iqdb] [saucenao] [google]
3710658

>>3710610
just sell em paper wallets

>> No.3710731

>>3710619
Yeah i was thinking the same thing, although i found out an ATM only costs around 7k to purchase? With no rent to pay i feel like i could make back my money within a month or two.

>> No.3710742
File: 25 KB, 472x461, CB3Klb9WMAAvDSH.jpg [View same] [iqdb] [saucenao] [google]
3710742

is buying bitcoin atms an actual thing?

any anons wanna go in on a crypto atm business with our sweet sweet gains?

>> No.3710797

>>3710610
enjoy the money services and money transmitter regulations and licensing, also having to tie up 50-100k in a bond.

>> No.3710803

>BTC Atms
I thought about this long and hard.
The machines which are most appealing are the ones where a user can do both buy bitcoin and sell bitcoin for physical cash.

With these ATMs is all about location location location. I wanted to place one outside of a computer lab at local university, university denied me. Other places i wanted to put ATM, wanted a ludicrous rent fee. Property owners thing bitcoin atms are as profitable as regular atms.

>> No.3710839

Yes but remember one thing: Be prepared to have a ton of shady people coming into your store to use the machine. A guy in a store down the block from me had one and got rid of it finally when the FBI came in and started asking him questions about someone that came in to use the machine. So yeah just a heads up.

>> No.3710875

>>3710839
Put it in a shady part of town aka niggerville where the cops don't bother with. Problem solved.

>> No.3710889
File: 1006 KB, 572x860, Screen Shot 2017-10-03 at 2.30.11 pm.png [View same] [iqdb] [saucenao] [google]
3710889

>>3710803
I can get free rent out front of a health food shop. For some reason i feel like the co-relation between anti-banking hippies and organic food will could create a comfy home for my rent free ATM?

>> No.3710911

>>3710889
hippies tend to not have money

>> No.3710930

I would put this shit in a cash4gold shop.

>> No.3710936

>>3710889
got the money for regulation and licensing, lawyer fees, start up costs, and bitcoin/fiat to stock the atm?

>> No.3710937

You need to get registered as a money transmitting business with your state to operate one legally. Maybe even with the SEC. I forget.

>> No.3710938

>>3710889
Did those "anti-banking" hippies vote for Bernie Sanders? If probably or likely, then it's a bad idea.

>> No.3711004

>>3710911
my town is full of rich hippies and drug dealers.