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The Great Robocoin Rip-off

Posted by Soulskill on from the expectation-versus-reality dept.

FhnuZoag writes: Last year, Andrew Wilkinson, founder of MetaLab, bought a Robocoin Bitcoin ATM, figuring it would be a fun little side project and a good way to help move Bitcoin forward. It did not quite turn out that way. He has now written a timeline of the 10-month, $25,000(CAD) struggle. In short: there was a massive shipping delay, a $2,000 charge to clear customs, no knowledge base, unhelpful support, and the ATM itself flat out didn't work.

4 of 117 comments (clear)

  1. A bitcoin product was a scam? by Anonymous Coward · · Score: 5, Funny

    Good heavens never saw that one coming!

  2. Re:Serveds him right for being a hipster twat by i+kan+reed · · Score: 5, Insightful

    I think a general rule of thumb is that once you hit 5 digits of price, a test drive is never too much to ask.

  3. Lowest cost laundering by Overzeetop · · Score: 5, Insightful

    One persons large spread on a conversion, is another persons bargain on laundering.

    --
    Is it just my observation, or are there way too many stupid people in the world?
  4. Re:Cost of Production by pla · · Score: 5, Informative

    What's the energy cost to physically produce a bitcoin? Anybody know?

    With a Butterfly Labs' Monarch (700GH/s)), at a difficulty of 19,729,645,941 and a block reward of 25...

    655 kWh per BTC, on average, or roughly one third of the current USD:BTC exchange rate in power costs.