Post
Topic
Board Bitcoin Discussion
Topic OP
Cash out only Bitcoin ATMs
by
cbeast
on 12/09/2014, 05:40:22 UTC
These would be good for places where people depend on remittance money from overseas foreign workers (OFWs). I would like to see a Bitcoin ATM that prints out and scans vouchers and a corresponding website that can also distribute vouchers as BIP38 or multisig addresses. I would like to see a low cost Bitcoin ATM that uses a multisig voucher that allows someone to send money and it clears verification before receiver goes to receive local currency. That way there is no waiting around at the ATM.

Bitcoin ATMs are in their infancy. Vouchers are a good way to manage keys without revealing financial information. They can be used in combination with email, sms, phone calls, or any other form of two factor authorization. Multisig and nLockTime can give them not only additional security for the receiver, but also security for the sender in the case where the money needs to be returned.

Let's see more creativity with Bitcoin ATM development using the cheaper "pay only" type money counters so we can get them distributed in developing nations.