Today many owners of BTMs (Bitcoin Teller Machines) are wishing they had picked a manufacturer other than Robocoin. The Las Vegas-based BTM company is now attempting to control the operation of machines that have already been sold, against the wishes of some (and possibly many) of the machines’ owners. And the proprietary 2.0 software Robocoin is attempting to push would jeopardize the security of customers using the BTMs.
Jordan Kelly News
As happens in all brand-spanking-new industries, the first actors who come to market aren’t vetted yet. The vast majority of merchants in the cryptocurrency space don’t have lengthy records of successful service—in fact, most of them haven’t even existed for more than a year or two. The buyers, too, are all relatively new to the digital money marketplace.346
There is a quick start of the new Bitcoin ATM in Vancouver making the operations with $100 000 (Canadian) worth of transactions within the first eight days.231
A Vancouver-based company has bought five Bitcoin ATMs and plans to have them up and running around Canada by December.Bitcoiniacs, which operates a physical Bitcoin exchange in Vancouver, purchased the RoboCoin machines for $18,500 each and has the first already running in Vancouver, at229