Flashing that QR code with your money on it seems like a pretty big security hole, no? Could anyone with a big telephoto lens peer over your shoulder and snag the code before you get a chance to? Thereby taking your money?
The requirement that the user's identify be verified is disappointing. I wonder if when these will have the same requirement in the U.S. when they launch or if small amounts of cash will be convertible without a verified identity.
Perhaps the palm reader will be able to recognize you after you input it once. It sounds like the "1 hour delay" is for that first time you use the machine.<p>For people who might use a Bitcoin ATM, it might make sense to input the palm print on the way into work or on the way out of the coffee shop, then bounce. The next time you come back, identity confirmation should be instantaneous.
This is pretty cool and all but I don't really see the use case for a btc ATM. Maybe if the shop offered 10% off on some coffeeif you paid With btc, but the ~1 hr confirmation time makes this somewhat unuseable. Plus would someone want to hagle with depositing money then paying with btc? Either way cool post and idea
Hopefully, they get these things all over the place. The feature that interests me a lot more is being able to WITHDRAW money from the ATM. This can replace your regular ATM card.
If they can partner with CoinBase or a similar "BitcoinPal", I think they instantaneous transactions will be possible. Maybe it's time to have a standard for these Bitcoin ATMs like MasterCard or Visa.