If you need any help, let me know.Ok so I have had an idea about starting a crowd funding project to buy and effectively run a Lamassu bitcoin ATM as a group.
My idea was to have the ATM placed in Melbourne, Australia and moved if we thought it would be more useful elsewhere but anywhere that would be best is where we would want it to be.
These machines can bring in a healthy profit for all involved and since there is so few available in Melbourne it would be a great time to set up here or just about anywhere else for that matter.
I have not done this before so I would love to hear from anyone who has been involved in any type of crowd funding projects and let me know about their experience of how it all works before starting.
Thanks in advance.
Reagrds: bitkilo.
iFixBTCmemoryIssues has a great idea to take this worldwide and make it something big.I might be interested in this. I'm playing with the idea of setting up a btm in belize - it would be a great market because it has poor banking infrastructure and nobody outside of belize wants a belize dollar.
But because of this it is also hard to wire money to an exchange to buy or sell bitcoin.
Your idea might be a nice way of getting my feet wet. I'd like to be involved primarily to learn & would be able to invest a bit too.
My guess is that the first step is finding a really good location that is secure, priced right, and accessible for you (or someone else) for managing the cash. Do you have any thoughts on this?
What do you mean with local? I'm sure you don't mean in your own homeiFixBTCmemoryIssues has a great idea to take this worldwide and make it something big.I might be interested in this. I'm playing with the idea of setting up a btm in belize - it would be a great market because it has poor banking infrastructure and nobody outside of belize wants a belize dollar.
But because of this it is also hard to wire money to an exchange to buy or sell bitcoin.
Your idea might be a nice way of getting my feet wet. I'd like to be involved primarily to learn & would be able to invest a bit too.
My guess is that the first step is finding a really good location that is secure, priced right, and accessible for you (or someone else) for managing the cash. Do you have any thoughts on this?
Hopefully he will post here to explain.
Regarding cash issues i was first thinking of having the machine local so i could empty it and buy more coins for cash via LBC's or bank transfer.
Any profits would be split even with the percentages anyone put in during crowd funding.
No not my home. The only home a bitcoin ATM would be profitable in would.be a drug dealers house.What do you mean with local? I'm sure you don't mean in your own homeiFixBTCmemoryIssues has a great idea to take this worldwide and make it something big.I might be interested in this. I'm playing with the idea of setting up a btm in belize - it would be a great market because it has poor banking infrastructure and nobody outside of belize wants a belize dollar.
But because of this it is also hard to wire money to an exchange to buy or sell bitcoin.
Your idea might be a nice way of getting my feet wet. I'd like to be involved primarily to learn & would be able to invest a bit too.
My guess is that the first step is finding a really good location that is secure, priced right, and accessible for you (or someone else) for managing the cash. Do you have any thoughts on this?
Hopefully he will post here to explain.
Regarding cash issues i was first thinking of having the machine local so i could empty it and buy more coins for cash via LBC's or bank transfer.
Any profits would be split even with the percentages anyone put in during crowd funding.
Getting a good location is probably the single most important aspect of setting up a bitcoin atm.
I'm looking forward to the world domination plan - as long as it allows to start small and profitable, and build from there
I'd go and talk to the owners / managers in the places that look like they would be good options, and see if they are open for it. Having 2 or 3 options that we could choose from would be perfect!No not my home. The only home a bitcoin ATM would be profitable in would.be a drug dealers house.
By local i was thinking of a local cafe or maybe shopping centre.
There will be plenty of legal loop holes we will have to jump through but as you say they are not stoppers and with a bit of research we will pass any requirements needed.I'd go and talk to the owners / managers in the places that look like they would be good options, and see if they are open for it. Having 2 or 3 options that we could choose from would be perfect!No not my home. The only home a bitcoin ATM would be profitable in would.be a drug dealers house.
By local i was thinking of a local cafe or maybe shopping centre.
It would help to know how much would be reasonable to pay for setting up an ATM in someone else's shop, does anyone know? I am sure it differs a lot per location, but some examples and figures would be useful.
Would the ATM be covered by insurance, and would the place you put the machine have to provide that? What happens to the machine + cash if it gets stolen - is that an expense for the operator? What legal hoops do we need to jump through?
None of these are show stoppers, but they are important in understanding what we are getting in to!
@bitkiloOk so I have had an idea about starting a crowd funding project to buy and effectively run a Lamassu bitcoin ATM as a group.
...
I have not done this before so I would love to hear from anyone who has been involved in any type of crowd funding projects and let me know about their experience of how it all works before starting.
Thanks in advance.
Reagrds: bitkilo.
Your 100% right planning is the key on a project like this or any project that matter.@bitkiloOk so I have had an idea about starting a crowd funding project to buy and effectively run a Lamassu bitcoin ATM as a group.
...
I have not done this before so I would love to hear from anyone who has been involved in any type of crowd funding projects and let me know about their experience of how it all works before starting.
Thanks in advance.
Reagrds: bitkilo.
There's a science behind crowdfunding.
One of the most important factors is planning.
In my opinion (others may disagree) you'll need to prepare for about six (6) months before you launch your crowdfunding project.
@bitkilo
Your 100% right planning is the key on a project like this or any project that matter.
I am looking at this from 2 sides now.
Local 1 or 2 machines or go big and launch this world wide.
So what I really need is info from anyone who has been part of a crowd funding project so they can let me know their experiences and what to watch out for.
This won't be easy but nothing that it worth doing is easy but I'm up for the challenge
You may become useful when the machine(s) are ready for instalation.Im almost ninja on those Lamassu machines, ive set up 3 of them and 1 of them we been even dispatching into parts [taking off tablet out etc]
Thabks i an taking all this onboard and will refer back to this post when needed.@bitkilo
(2) The first day of your launched crowdfunding project is the most critical.
I wouldn't launch your crowdfunding project until you are certain (100%) that you'll have a good number of supporters who guarantee to make pledges on the first day.
If not, you're project will likely fade away into the abyss.
(3) Social media algorithm
You should advertise your crowdfunding project on facebook and twitter
You'll need as many likes and retweets as possible. They'll be calculated.
They offer their SLA hosting for 100usd a month (i think) but i never used it.You may become useful when the machine(s) are ready for instalation.Im almost ninja on those Lamassu machines, ive set up 3 of them and 1 of them we been even dispatching into parts [taking off tablet out etc]
Can you give me any idea what the costs for repairs are on these and if any firmware upgrades are need constantly.
Do the Lamassu brand machines brake down often?
We have a 2 here in Melbourne that are hardly ever working, the shop owners blame this on a disbute with the machine owners, hopefully solved now.
Last bitcoin meetup i went to had a bitcoin atm serup to use- Lamassu brand.
Hi bitkilo,
We are re-launching BitcoinStarter.com which is a Bitcoin crowdfunding platform. Be great to talk about getting your project up there! It sounds very promising. Drop me an email: bitcoinstarter@gmail.com. Let's talk!
I could build a Bitcoin ATM so that we wont have that kind of problems and also dont have to pay so much for it and when I say dont have to pay as much I mean only paying half of what a Lamassus Bitcon ATM cost. Also my design comes with a NUC computer instead of a tablet so we wont have hardware limitations and freez.They offer their SLA hosting for 100usd a month (i think) but i never used it.You may become useful when the machine(s) are ready for instalation.Im almost ninja on those Lamassu machines, ive set up 3 of them and 1 of them we been even dispatching into parts [taking off tablet out etc]
Can you give me any idea what the costs for repairs are on these and if any firmware upgrades are need constantly.
Do the Lamassu brand machines brake down often?
We have a 2 here in Melbourne that are hardly ever working, the shop owners blame this on a disbute with the machine owners, hopefully solved now.
Last bitcoin meetup i went to had a bitcoin atm serup to use- Lamassu brand.
They have support but by email - they reply every 24h. So if stuff is urgent... Oh well
The machines are not really breaking so no need to pay for "mechanical" issues (never heard of anybody needing so.
But there happends freezes of the tablet.machine.
Then ANYTHING you can do is actually get to location and hard reboot the tablet with your own fingers. No way to fix it remotely at this moment.
They do work on this but so far this is not fixed. And thats most irritatign bug.
To some people it happends more often, to some people less often.
But its still better than ie BitXatm machines having a bug when they take peoples money and dont pay out
Mostly Lamassu is smooth, just this one freeze bug can make your head turn around. But there is ways to avoid too much hassle - leave 1 of keys to staff of spot where mahien is at and teach them what button to press to restar (they wont have access to money spot, money spot has 2nd key)
Any updates on this project?Ok so I have had an idea about starting a crowd funding project to buy and effectively run a Lamassu bitcoin ATM as a group...
I did start working with the Bitrocket team but they were very unorganized. This has been put on hold for the foreseeable future. I have another idea for BTC/BCC ATM's that i will work on when i have timeAny updates on this project?Ok so I have had an idea about starting a crowd funding project to buy and effectively run a Lamassu bitcoin ATM as a group...
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