Post
Topic
Board Bitcoin Discussion
Re: Trying the new Bitcoin ATM near my house
by
LoyceV
on 06/04/2017, 10:21:03 UTC
Very nice video!

Does this mean you can buy/sell up to 3000 CAD without any identification? Are KYC/AML-regulations that loose in Canada?

It seems a bit weird to walk around with your receipt, waiting for your Bitcoins to be confirmed before you can pick up your cash. If someone manages to take a picture of your receipt, he can claim it and walk away with your money.
It may also be possible to find the transaction for the amount shown on the screen in a Block Explorer. The observer can then recreate the QR-code, and walk away with your money.

I see many people in this thread complain about the fee, but it's not that bad at all: 20 CAD gets you 10.99 mBTC, and 12.77704 mBTC gets you back your 20 CAD. You've lost just under 2 CAD on this transaction, less than 5% one way.
I can imagine fees go down when enough people use Bitcoin ATMs. Now the machine has to be paid back by not too many customers. If customers would line up, competing machines could compete on fees.