(Pre-Proposal) DASH ATMs

[Sean]

Hey All!

I'm with Dave(digital asset vending equipment), my proposal is to implement DASH as a core driver, giving our current ATM operators the option to replace Bitcoin on the ATM with DASH.

Shapeshift is already implemented in the ATM allowing customers to still buy bitcoin easily with cash via DASH driver, so I believe I can get operators to flip as the bitcoin network is going through grandma seizures.

I have operators who's business is upended by mining fees. I think they would make the switch to DASH

Strong crypto ATM locations see a couple hundred grand a month volume consistently. No matter what coin anyone was purchasing, It would move through DASH before shapeshift.

I think users seeing DASH as the core driver of crypto ATM machines is going to do something for the mentality of the community in addition to generating volume.

asking for 20 DASH--- to fully implement as a selectable core driver (paid on completion)
timeframe: 2 weeks

asking for 50 DASH--- after I convince one of my operators to run an exclusively DASH powered machine and do significant press releases about it
timeframe: 1 mo

asking for 100 DASH--- after we show DASH ATM network cash transaction volume exceeding 100 DASH in a 90 day time frame
timeframe: 4mo

asking for 500 DASH--- after we have 5 exclusively DASH powered ATM's in live locations (Must be 3 different countries) All locations must have a round of clear press releases to count.
timeframe: 4mo

asking for a MASTER NODE--- after we have exceeded 10 DASH exclusive ATMs in live locations exceeding 100 DASH/mo cash volume consistently for greater than 120 days XXEDITXX///////////////// I just need to hear from node illuminati how many ATMs and at what volume they need to be for us to be worthy of the crew.
timeframe: no idea


asking for 100 DASH--- if I can at any point get a DASH exclusive ATM put somewhere sexy in west Africa with some big press releases
timeframe: no idea

My names Sean Scappaticci, we've been in the bitcoin ATM space for a while. We took runner up in the 2014 Amsterdam Blockchain awards for best ATM design using a DIY version. Please excuse the hoakyness of our first DIY home videos back in the day.

https://motherboard.vice.com/en_us/...se-sized-atm-is-bitcoin-banking-made-portable

https://www.coindesk.com/bitcoin-foundation-announces-blockchain-awards-shortlist/

Really looking forward to your feedback!!

 

[djcrypto]

Seems like you're asking for a lot when we already have General Bytes integrating 2-way Dash buy/sell.
I do like the idea of Dash being the base crypto with which trades are made.
I'd be ok with the 50 Dash level.
Anything above that seems extortionate, unless you could reduce the fees to purchase Dash to a minuscule level.

 

[Sean]

Seems like you're asking for a lot when we already have General Bytes integrating 2-way Dash buy/sell.
I do like the idea of Dash being the base crypto with which trades are made.
I'd be ok with the 50 Dash level.
Anything above that seems extortionate, unless you could reduce the fees to purchase Dash to a minuscule level.

The real difference in what I'm talking about here is using DASH as the primary driver. To my knowledge, General Bytes has implemented the DASH wallet along side Bitcoin. That means that an operator stocks the ATM with Bitcoin AND DASH running the machine at a few percent fee hoping to make money of the customer that come's only for DASH all the while riding market fluctuation.... that just isn't a reasonable buisness model, and it's why you arn't seeing any dash transactions done on those machines.

What I propose is drastically more powerful. Most ATM customers will still be using bitcoin, but because we use Shapeshift we can still offer them Bitcoin as one of the many options while using DASH as the primary driver. This means the dash network will be recieving 100 percent of the transaction volume no matter what coin is purchased, and this is still a much better user experiance for both ATM customer, and Operator.

Does this make sense? I can explain a much more why our implementation is radically different that what any atm has if this didn't quite do it

The real power from implementing this is DASH taking over the machine, all of its volume, and still offering Bitcoin just as easily as before. And its a less expensive model for both operator and customer

 

[Stealth923]

ATMs are bad ROI in my opinion. They only service a small radius of users who are usually lazy and dont want to walk/drive to an ATM. They would rather sit at home and purchase from a gateway like coinbase/uphold etc.

For this amount of money at this point in time I cannot vote yes.

 

[Miner237]

I think users seeing DASH as the core driver of crypto ATM machines is going to do something for the mentality of the community in addition to generating volume.

asking for 20 DASH--- to fully implement as a selectable core driver (paid on completion)
timeframe: 2 weeks

asking for 50 DASH--- after I convince one of my operators to run an exclusively DASH powered machine and do significant press releases about it
timeframe: 1 mo

asking for 100 DASH--- after we show DASH ATM network cash transaction volume exceeding 100 DASH in a 90 day time frame
timeframe: 4mo

Hello I like your idea however two things as pointed out this would be a bit high of a requested amount are you asking for a net or gross amount? In the end is the proposal for 1000 DASH or like 1670 total DASH? Secondly yes General Bytes is adding support for DASH but it would be good to have some exclusive ATM networks. Its true that ATM do not have a high initial ROI back to the network and are very localized to where they end up so you may have a hard time passing another project like this. Maybe we can team up because I have several customers waiting for DASH supported kiosk and general bytes is not responsive to my orders and they are retooling their manufacturing, so here is my offer.

Get me info on what exchange buy back and sell supported API that your platform supports and send me info on your bitcoin ATM order process. I will order a unit asap and then I will pay your 20 DASH bounty upon completion of full DASH support to the machine and I can verify it on the machine I buy. We can then formulate a better plan and if you are able to do this in the time frame you mention here we could have this completed before the next budget cycle to get some of your operators switched.

 

[Photosynthesis]

grandma seizures.

Ummm..grand moll seizures perhaps?

 

[Sean]

Hello I like your idea however two things as pointed out this would be a bit high of a requested amount are you asking for a net or gross amount? In the end is the proposal for 1000 DASH or like 1670 total DASH? Secondly yes General Bytes is adding support for DASH but it would be good to have some exclusive ATM networks. Its true that ATM do not have a high initial ROI back to the network and are very localized to where they end up so you may have a hard time passing another project like this. Maybe we can team up because I have several customers waiting for DASH supported kiosk and general bytes is not responsive to my orders and they are retooling their manufacturing, so here is my offer.

Get me info on what exchange buy back and sell supported API that your platform supports and send me info on your bitcoin ATM order process. I will order a unit asap and then I will pay your 20 DASH bounty upon completion of full DASH support to the machine and I can verify it on the machine I buy. We can then formulate a better plan and if you are able to do this in the time frame you mention here we could have this completed before the next budget cycle to get some of your operators switched.

I love this idea. I'll post back here shortly with progress. The best way for you to order a machine, especially more than one, if for me to put you in touch with our manufacturer directly and give you a parts list. This bring the single unit cost for a full standing 2 way atm to around 3600.

As to ROI... I wholly believe that DASH ATMs to this point have been an exceptionally low ROI. This is specifically because of the implementation. There is no sensible business model of holding a balance in DASH in parallel to Bitcoin on an ATM thinking to make a percentage on the Volume of strictly DASH transactions. However...

The magnitude of the strain this bitcoin blockchain is having on ATM opporators cannot be overestimated. As this moment, entirely new functionality is being built into machines, things like flat fees, and teird structuring just to try and balance this network congestion. This panic is exactly why I have reached out to the community and operators begin to ask about Bitcoin Cash and other options. DASH being the core driver is what makes this such a situation.

DAVE as a manufacturer takes 1% of transaction volume. At 100k a month (decent location) I hit ROI in 4 months even if I gave the thing away rather than sold it.

Generally when a 3rd party funds the hardware of a machine and gifts it to an operator for use; I see them put a 2% royalty on through our system, gathering full ROI in 2 months and passive income then on out.

These lightning ROI's are indeed very possible as the cashflow in the atm market is enormous. The key is using DASH to conduct all other transactions.

So just to be clear, I'll post a parts list here shortly and we'll go from there.

 

[Sean]

Ummm..grand moll seizures perhaps?

Wow.... mind blown..... I've definitely been saying it wrong..... but in my defense I feel like the grandma seizure nomenclature both applies, and is more fun

 

[Sean]

ATMs are bad ROI in my opinion. They only service a small radius of users who are usually lazy and dont want to walk/drive to an ATM. They would rather sit at home and purchase from a gateway like coinbase/uphold etc.

For this amount of money at this point in time I cannot vote yes.

I understand why that might seem like the case, but after being in the ATM space for some time, and watching it grow; I have to fundamentally disagree with this statement.

What you describe implies that a crypto ATM is a convenience device rather than a destination device. This is I believe where the confusion comes from.

No one stumbles upon a bitcoin atm and says "You know what, glad I bumped into this, time for me to drop some cash"... especially not when most atms run northward of a 15% fee when purchasing high volume. A lot of times higher than that for smaller amounts in tiered pricing.

To say that lazyness drives these customers to walk and then pay exorbitant fees is just not the case, it has to do with neccessity, it has to do with a lack of a bank account; or capital restrictions like we see in south America. These atms are often crypto user's sole link to the market, and rarley for the novelty transaction as people assume.

I'm really happy to talk more about the lessons learn from bitcoin atm operation as a Bitlicense holder in NYC since 2014.

 

[Miner237]

I love this idea. I'll post back here shortly with progress. The best way for you to order a machine, especially more than one, if for me to put you in touch with our manufacturer directly and give you a parts list. This bring the single unit cost for a full standing 2 way atm to around 3600.

DAVE as a manufacturer takes 1% of transaction volume. At 100k a month (decent location) I hit ROI in 4 months even if I gave the thing away rather than sold it.


So just to be clear, I'll post a parts list here shortly and we'll go from there.

Ok perfect. I'll look forward to the parts list.


And can you explain this part about 1% transaction volume and 100k? Are these separate remarks? Is there a limit to the fee the mfg wants?

How can they "take" 1% what do I get for paying 1% of tx volume to the mfg? I can do this for zero fees to mfg with Lamassu..

 

[Sean]

Ok perfect. I'll look forward to the parts list.


And can you explain this part about 1% transaction volume and 100k? Are these separate remarks? Is there a limit to the fee the mfg wants?

How can they "take" 1% what do I get for paying 1% of tx volume to the mfg? I can do this for zero fees to mfg with Lamassu..

So, here you're bringing up the very fundamental question of ATM provider business model. I'll first clearly define ours, and then explain why is its the best for all parties involved, ourselves as well as our customers.

There are really two clear places for an ATM provider in the current crypto market to make their money. Sale of the hardware, and royalties. We have chosen only royalties, and to wholesale hardware directly at cost; and I believe the market has shown this to be the right model.

Lamassu is exactly as you describe, but I believe this is also the reason they choose to pivot by open sourceing the atm and offering a secondary support service for a monthly fee after a year or so into the life of their business. The problem with a sale based business model is it puts the incentives in the wrong places. The atm company in this case does just as well if the machine sits unused in your office, and rationalizing the continued support that generally comes with a first time ATM operation quickly becomes unscalable. Not to mention this model requires charging a lot for the hardware, creating a barrier not only to entry, but to scaling up in the future as well.

Genesis took the other route, creating a partnership with their customers and charging 1% of transaction volume, aligning incentives and putting the manufacturer's skin in the game as far as creating a successful enterprise is concerned. This means the customer gets not only continued support, but the manufacturer ends up actually overtly helping the operation because they are incentivized to do so. This is why if you on coin atm radar; once a customer goes with genesis, they often continue exclusively with them because of the powerful relationship that royalty forms. (The easiest way to look at this is to check a local area, theyre generally all run by the same operator, sometimes a few different machines, then check the install dates.)

Our model is one of lasting relationships based on aligned incentives, and thus far the market has shown it to be the right direction.

Here's a parts list, hold off on placing an order if you already have another factory, as I recently had one have a hard time sourcing that printer, so I think we're making a move to a more universal epson model this week.

EDIT::::////// When I said earlier 100k, I meant 100k usd is the volume of a decent crypto atm location. 1% of this is 1k USD a month, after 4 months I've recouped the 3600 of the software; and this was if I paid for and gifted the machine to an operator rather than sold it. Just let me know if that doesn't make sense. When I see a third party pay for our hardware to give an operator I have generally seen between 1-2% be the automatic royalty a financier will apply.

 

[Photosynthesis]

Wow.... mind blown..... I've definitely been saying it wrong..... but in my defense I feel like the grandma seizure nomenclature both applies, and is more fun

It's a little less funny when you're married to an epileptic, I assure you. But I'm not gonna be one of those PC maniacs. Just figured I'd educate.

 

[Sean]

It's a little less funny when you're married to an epileptic, I assure you. But I'm not gonna be one of those PC maniacs. Just figured I'd educate.

I was merely laughing at myself for using an outrageously incorrect term for the entirety of my life. Sincere apologies for offense

Edit::://// After a local poll my data is showing that around 40% of people are under the impression they were called "grandma" not "grand mal".... although that could say more about the people I know rather than the validity of the mistake...

 

[Miner237]

lets work on getting something that works and functions in a proof of concept, and then get together a more formal price structure and deployment plans for a full proposal.

If I order the machine and escrow 20 DASH will you build the interface and implement it on my machine, then the escrow holder can release funds. How does that sound?

 

[Sean]

lets work on getting something that works and functions in a proof of concept, and then get together a more formal price structure and deployment plans for a full proposal.

If I order the machine and escrow 20 DASH will you build the interface and implement it on my machine, then the escrow holder can release funds. How does that sound?

That sounds perfect, I'll put you in touch with our manufacturer and we'll get rollin on this.

 

[Sean]

UPDATE: Just ran some successful cash in and cash out transactions for Dash

Still some cleaning up to do with receipt labels and such but it's functional.

I think I can crush the second milestone before Miner237 even gets a chance to play with his machine.

*Got the first milestone privately funded by the benevolent Miner237

Estimated time frame / 2 weeks

Actual time frame / <24 hours

*turns to the masters

 

[Miner237]

UPDATE: Just ran some successful cash in and cash out transactions for Dash

View attachment 5819

Still some cleaning up to do with receipt labels and such but it's functional.

I think I can crush the second milestone before Miner237 even gets a chance to play with his machine.

*Got the first milestone privately funded by the benevolent Miner237

Estimated time frame / 2 weeks

Actual time frame / <24 hours

*turns to the masters

WOW GREAT NEWS!

Well yeah I have not even ordered it geeze. By the time the wire ever goes through it looks like you may have it all tuned up I won't need escrow I just need to get a machine now....Do you have any second hand machines I could buy that are ready now, maybe a customer with extra near NYC I could pick up...? This is huge to have this kinda of terminal access ALL crypto on shapeshift using DASH. I just worry if shapeshift were to be down can the ATM still run native DASH only? Looking forward to putting one of these in our show room. Thanks I have some new customers that may opt to run with this over general bytes once we can figure out the logistics ordering and operational sides.

 

[Sean]

WOW GREAT NEWS!

Well yeah I have not even ordered it geeze. By the time the wire ever goes through it looks like you may have it all tuned up I won't need escrow I just need to get a machine now....Do you have any second hand machines I could buy that are ready now, maybe a customer with extra near NYC I could pick up...? This is huge to have this kinda of terminal access ALL crypto on shapeshift using DASH. I just worry if shapeshift were to be down can the ATM still run native DASH only? Looking forward to putting one of these in our show room. Thanks I have some new customers that may opt to run with this over general bytes once we can figure out the logistics ordering and operational sides.

That's awesome I'll see if I can talk the guys in New York into giving one up.

As far as implementation goes, to answer your question yes the machine could run Dash without shapeshift as it's implemented as a core driver, but I believe this kills the business model entirely.

The power of this proposal come's from Dash and shapeshift together giving operators and customers the same model they are accustomed to while reducing fees, wait times, and putting all the cash volume through the Dash network.

 

[Miner237]

The power of this proposal come's from DASH and shapeshift together giving operators and customers the same model they are accustomed to while reducing fee's, wait times, and putting all the cash volume through the DASH network.

I get this but what I am asking / affirming is when / if shapeshift goes down for maintenance or DDOS. this machine will keep vending and selling DASH> thanks look forward to putting it through some test

 

[Sean]

UPDATE: The implementation is cleaned up in the remote admin control now, and is a selectable core driver like bitcoind or electrum.