Do you dare to share information how many ATMs you are able to build per month and maybe price of those?
Edit: And are there chance to provide ATM purchase with BITS a sale with certain percentage? That would cause nice volumes for BITS trading and competition for regular bitcoin ATMs.

@mark81 We are not building our own ATM machines, we are rebranding existing multi-coin machines from third-party providers.


Actually it is about you, after all, you are the first person to post such a vehemently anti-Cyprus statement on this subject.

I will take each point in turn:

That politicians may laugh at the notion of Bitcoin and cryptocurrency in general is irrelevant. The same can be said for almost every jurisdiction in the world when first learning of the technology. It is not a metric by which one can judge anything other than the hubris of some in positions of political power.

Last position for what, exactly? How does this relate to anything concerning a business aimed at those in a market who are already interested in technology and cryptocurrencies? Our aim is not to bring new users to the internet, it is to serve local internet users who are already aware of the existence of bitcoin.

So are you claiming nobody in Cyprus pays their bills online? Because that is just a monumentally bizarre assertion to employ to support your position. That, 'people' still pay at the utility office does not in any way translate into, 'nobody pays online'. How do you explain, then, the fact that the vast majority of road tax renewals are paid online? Surely if your condemnation of the state of the use of online services in Cyprus bore any truth then the only a handful of renewals would be?

Again with a bold assertion that serves to provide for nothing other than the vague claim that 'they' don't 'trust' online bank transfers. How does that correlate with the fact that almost everybody and every business I know uses online banking services here? Your 'fact' might have been more accurate had you posted it ten years ago.

Going beyond your anti-Cyprus rhetoric you appear to be monumentally ignorant of one particular key market sector, wealthy ex-pat communities from Russia and numerous other countries. Cyprus had, for many years, a booming offshore-financial-services sector and, while EU membership put paid to many aspects of that, it still retains many benefits to investors and high-net-worth individuals. These are the primary market we intend to serve initially.

Nothing in our business plan is related to bringing cryptocurrency to the 'masses' locally, merely that we wish to provide an introduction to multi-faceted cryptocurrency services and an easy on/off-ramp for fiat<>crypto to our target market here.

@bitkokos You began this series of posts by claiming that the Cyprus Government would need to approve cryptocurrency ATMs, which is false. You also claimed near-absolute certainty that cryptocurrency machines would be shutdown and seized and suggested that I would be thrown in prison, which is also nonsense. Cyprus is not some wild-west third-world country, although it does suffer from certain inherent sociopolitical issues, as all countries do to some degree, the Cypriot government is generally very supportive of e-commerce and is more than open to discussing new ideas and technical concepts, what is more, they are probably one of the only EU countries where one can actually directly converse with key government and Central Bank personnel should one need to.

You have now resorted to dragging up rather irrelevant facts about the use of the internet by local consumers, including a link to an article which makes the fallacious mistake of employing an absolute, "However, Cypriots may be enthusiastic internet users for these activities, but they are unwilling to make any online transaction, probably due to lack of confidence."

If the above were actually true then, yes, any internet-based service would indeed be doomed to failure. As a logical fallacy, however, said absolute is false as there are plenty of internet users in Cyprus, many of whom are clearly using online banking and paying their bills online.

I'm not sure what the intended purpose of your posts was, to discredit our business, or your own country.


Sorry Mark, could you expand on that, I'm not sure what you're asking.

Thanks. Any problems just let me know, the link to the xpool thread is in my sig or hit me up on the SuperNET slack.

Payouts are Mon/Wed/Thu and there'll be a BITS payout shortly as there is already a miner

Cheers!

I am ending this conversation here. I think it's pointless to continue as you always change what I say either by misunderstanding or intentionally and you give your "answers" to your "changed" questions.

1. I asked if you have informed the government.
You said I said if you got approval, (which is not the same)
2. I said "you will most likely end up in jail (Something I don't wish to happen though)"
You said I suggested that you would be thrown in prison
3. I said "as they get notified about it, they will remove it"
You said I said that cryptocurrency machines would be shutdown and seized (which is not the same)
4. but they are unwilling to make any online transaction, probably due to lack of confidence."
it talks about the majority of users and not about everybody (as you insist that I say)
5. You said "You have now resorted to dragging up rather irrelevant facts about the use of the internet by local consumers, including a link to an article which makes the fallacious mistake"
That link to "an article" is a research performed by the European Union and NOT by an article writer.
6. You said I'm not sure what the intended purpose of your posts was, to discredit our business, or your own country.
Where did you see I wanted to discredit your business??? I have said good luck and that I will use your services too. The only thing I wanted is that you should be very aware with such kind of business in Cyprus. Moreover, I previously said I bought thousands of BITS which is something I am interested, why should I want to ruin it?

AGAIN, I wish good luck.
If you think that the above posts ruin the reputation of your business please ask the forum moderator to delete them.

Thanks for the update, added extra for the delay, not sure if you've seen we're now a option on a 3rd party multipool http://www.xpool.ca/, due to this we're disabling our one for now.

The latest shift for the Xpool Multipool paid out over 14+ DRK, 88+ BTCD, 136+ FIBRE, 252+ BITS & 0.262+ BTC.

Welcome Bitstar coin as a new coin for payouts. Today's payout hasn't actually been sent out yet as the blockchain didn't download completely yesterday. Loading it with the bootstrap now and has been running ~7 hours and @ block 740k! It'll be sent out as soon as it's finished.

Any problems, please PM or post to the Xpool thread linked in my forums sig as I may miss your post.

Cheers!

www.xpool.ca

Payments have been processed and sent now for BITS!

Thanks ya'll!

cheers

Hey thanks man! Great to see some positive feedback

+1