Quote from: d5000 on Today at 04:16:24 PM

Quote from: stwenhao on Today at 05:48:31 AM

And instead of using its own cash, it can be changed into a meeting point. You would have two rooms: one for the buyer, and one for the seller.

Interesting idea, but I would like it to be a bit more automated. The problem here is that both must still meet up at the same time in the same place. The rooms could be made in a way however nobody sees the counterparty's face (of course they could then try to stalk the counterparty after leaving the room).

Your point about support is also something to take into account, but if we continue with the "locker" concept, there you could have the same issues, and it doesn't happen very frequently.

The challenge will be with the government. They have tried without any success to see how they regulate bitcoin 100% and still don't have a perfect solution to that, won't it be us selling our freedom to them in the end. They will now have a physical location to track bitcoin holders and enforce some bias law on them.

Quote from: Free Market Capitalist on Today at 06:09:16 AM

But there's another type where you can send the transaction from home and just go to the ATM to withdraw the money once it's been confirmed.

That's indeed a good concept to be combined into the design. It would also align with the idea that all interaction could be done via an (open source?) app not provided by the ATM company, and thus the ATM company isn't involved at all with the exchange itself (it only deposits/checks the cash).

@X-ray: The machine you described would still probably be considered "custodial" (as the company temporarily holds "your" BTC as in my answer to @odolvlobo above) and thus require KYC.
[/quote]

Quote from: d5000 on Today at 04:16:24 PM

Quote from: stwenhao on Today at 05:48:31 AM

And instead of using its own cash, it can be changed into a meeting point. You would have two rooms: one for the buyer, and one for the seller.

Interesting idea, but I would like it to be a bit more automated. The problem here is that both must still meet up at the same time in the same place. The rooms could be made in a way however nobody sees the counterparty's face (of course they could then try to stalk the counterparty after leaving the room).

Your point about support is also something to take into account, but if we continue with the "locker" concept, there you could have the same issues, and it doesn't happen very frequently.

The challenge will be with the government. They have tried without any success to see how they regulate bitcoin 100% and still don't have a perfect solution, won't it be us selling our freedom to them in the end. They will now have a physical location to track bitcoin holders/transactions and enforce some bias laws.

Quote from: Free Market Capitalist on Today at 06:09:16 AM

But there's another type where you can send the transaction from home and just go to the ATM to withdraw the money once it's been confirmed.

That's indeed a good concept to be combined into the design. It would also align with the idea that all interaction could be done via an (open source?) app not provided by the ATM company, and thus the ATM company isn't involved at all with the exchange itself (it only deposits/checks the cash).

@X-ray: The machine you described would still probably be considered "custodial" (as the company temporarily holds "your" BTC as in my answer to @odolvlobo above) and thus require KYC.
[/quote]
How about implementing a Point-of-Sale (PoS) system instead? It could be more discreet and secure than an ATM setup, especially considering the risks involved in public transactions. A PoS terminal integrated into existing businesses (like stores or cafes) would allow users to transact quietly without drawing attention, unlike ATM machines where it's obvious when someone is handling crypto-related business.