Zář 26

Lamassu Unveils New Line of Bitcoin, Cryptocurrency ATMs

On September 24th, Lamassu announced the introduction of their new line of cryptocurrency ATMs to the public. Lamassu calls its new line of ATMs, “Sintra.” The ATMs herald a new line of ATMs as another crucial step in crypto’s march towards widespread consumer use and accessibility. 


Growing Industry

According to CoinATMrader.com, there are currently roughly 3,750 crypto ATMs installed worldwide. Lamassu has been producing cryptocurrency ATMs since 2013 when they produced their first, which was called the Bitcoin Machine.

While that number sounds impressive, and the number of the crypto ATMs installed continues to grow steadily, it is important to put that number in context. Information from Data.gov, for example, indicates that there are over 5,500 bank-owned ATMs in New York State alone. Crucially, this ATM count does not include independently managed ATMs at convenience stores and other retail locations.

Cost

Pricing for the new crypto ATM’s ranges from 5,200 EU for the cheapest Duoro II model, to 8,900 EU for the highest price Sintra Forte model. The mid-priced Sintra model costs 7,500 EU. The Duoro II model is the newest model of Lamassu’s original Crypto ATM, and features one-way fiat to crypto conversion, while both the Sintra and Sintra Forte feature two-way conversion.

The new models offer a bevy of features, designed to make buying and selling crypto through the machines as painless as possible. The machines feature a sleek, futuristic look, and are all crafted in Portugal. The body of the machines is crafted out of 2.5mm steel for extra durability.

Owners of these machines can configure their ATM’s to take almost any major currency, and support conversions from fiat to Bitcoin, Zcash, Ethereum, Bitcoin Cash, Litecoin, and Dash.

While Lamassu does not directly facilitate transactions on the ATM, it does offer a backend exchange trading engine that can steer conversions to liquidity providers. Lamassu’s engine is currently connected to BitPay, Bitstamp, Kraken, and Coinbase.

Fees and Regulatory Issues

ATM operators have control over the fee structure charged by their machines and can profit by either charging direct fees or adjusting the spread charged by their liquidity provider.

On Lamassu’s website, the estimates indicate that a machine needs roughly $800-$1,000 worth of daily transactions to break-even. Lamassu estimates that the average monthly turnover on their machines is roughly $20,000 and rising.

The Sintra line of ATMs features numerous compliance features, but investors interested in purchasing and managing a machine need to do their due diligence regarding the legality of operating an ATM in their jurisdiction.

Prospective ATM operators in the United States must ensure they are following both federal and state laws. Bitcoin ATMs would currently fall under the criteria of “Exchangers,” according to the Financial Crimes Enforcement Network. In turn, they must register as “Money Service Businesses.” If you are interested in purchasing a machine in the United States, this primer is a handy starting point.

As interest in Crypto continues to grow among the retail investing community, ATMs will likely be a key “on-ramp” for investors into the crypto industry.

What do you think of Lamassu’s New ATMs? Let us know in the comments below!


Images courtesy of Bitcoinist archives, Shutterstock, Lamassu.is

Share
Čvn 13

Litecoin and Lightning Network Coming Very Soon to Bitstamp?

· June 13, 2017 · 1:20 pm

Bitstamp tweeted a mysterious video featuring a lightning bolt seemingly making a thumbs up which follows speculation that Litecoin will be soon added to the site. The video also suggests that access to the lightning network is coming too.


Litecoin Rumors

The mysterious tweet coincides with Litecoin creator Charlie Lee’s departure from Coinbase where he worked as their Director of Engineering for the past two years. Coinbase recently added Litecoin to the site and their exchange GDAX where it has seen good trade volume with today’s LTC/USD market seeing a 468,665 LTC trade volume in the last 24 hours.

This flurry of activity for Litecoin follows its implementation of SegWit. Yet to be implemented for Bitcoin, SegWit (Segmented Witness) is seen by many as the solution to Bitcoin’s current scaling problems, allowing for larger block sizes and faster transaction times.

SegWit and Litecoin

With its lightning network capabilities, Lee sees Litecoin’s long-term goal as alleviating some of the smaller transactional volume, perhaps using it for micropayments such as buying coffee with zero confirmation times or transaction fees.

Many already see Litecoin as a testing ground for future Bitcoin features, however, Lee remains committed to Bitcoin too, as he also contributes to its development and has tweeted in the past about Bitcoin being regarded as a real store of value – gold to Litecoin’s silver. He argues that if you are wiring $50,000 to your bank, you could still use Bitcoin for the increased security that comes from its larger network of decentralized miners.

When Lightning Strikes

The implementation of the lightning network on Litecoin, which was initially developed for Bitcoin, is now a reality on Litecoin. It brings instant payments with no need for block confirmation times. Security is enforced by blockchain smart contracts and payment speeds are in the milliseconds to seconds range.

Its scalability means that it is capable of handling millions – even billions – of transactions per second across the network. It is low cost, as it settles off chain it allows for exceptionally low fees, which is why it is ideally suited to instant micropayments.

The most crucial benefit of the lightning network, however, is its ability to cross blockchains. This will allow for cross blockchain atomic swaps without trust in a 3rd party. This feature means that the lightning network would also need to be available on that coin too, something that could be a reality with Bitcoin should the coin pull off its UASF to enable Segwit. We live in exciting times.

Do you believe the rumors? Should UASF be activated on Bitcoin or should Litecoin take the lead? Let us know in the comments.


Images courtesy of Twitter, AdobeStock, Reddit

Show comments

Share
Kvě 01

Bitcoin Price Blunders, Suffers $15 Decline

Source: bitcoin

bitcoin

The bitcoin price has fallen… Probably not in the same manner as Olympus or London, but it has seemingly taken a trip down south to the $453 range at press time, equaling a $15 drop since our previous price study.

Also read: Bitcoin Price Inches Towards $470, Will $500 be Next?

Bitcoin Price Takes A Dive, But Should We Be Worried?

Some may take this as a time to panic; that reaction may be premature. Things can appear scary at first, and we’re likely to be reminded of the troublesome year that was 2015 and bitcoin’s previous drop in 2014 from $1,000 to $600, but there’s not enough evidence to suggest such a drop is coming again. Bitcoin is still holding its ground, and as we’ve seen in the past, bitcoin’s price is only as good as its publicity.

Previously, discussions of bitcoin’s integration with Steam and the hype surrounding Segregated Witness meandered through Internet chat boxes, and they haven’t disappeared. People are still talking, and the news is still considered a high-mark in bitcoin’s controversial, but unique career.

One thing to consider, however, is the heavy drop experienced by ether last month. Thought to be one of the digital world’s more prominent altcoins, ether could likely have a larger hand in the cryptocurrency arena than we think. Cryptocurrencies are often interwoven; they utilize the same technology, and can bring each other directly to the top, or down to the lowest common denominator depending on the circumstances. It’s hard to say for sure if ether’s status is affecting that of bitcoin’s. Ether’s misfortune was first witnessed in March while bitcoin has endured an exciting few weeks, but it’s not something we can rule out entirely.

Others are being quite hard on Bitcoin, predicting a massive drop that will likely bring it down to the bottom rung (some say $300) before it begins any further escalation. As we’ve all seen in the past, this can happen at virtually any point in time. Cryptocurrencies, for the most part, are like stocks — they’re unpredictable and depend greatly on outside market influence to sustain flow, wealth and stamina.

But there is some good news to consider. Even if bitcoin were to experience a rapid decline shortly, we could expect things to return to their “bullish” ways by mid-summer. Through the aid of Bitstamp, interest in bitcoin is expected to rise heavily in Europe, and with an entire continent ogling digital currency and eager to get in on the action, we’re likely to witness bitcoin’s price spike again within just a few months.

So let’s not get scared right away. This is merely a minor stumble in a long trek up the financial Everest, and bitcoin hasn’t sprained any ankles as of yet.

Do you predict further falls in bitcoin’s future, or will it pick itself back up soon? Post your comments below!


 

Images courtesy of Dentons, bitcoindoc.com

The post Bitcoin Price Blunders, Suffers $15 Decline appeared first on Bitcoinist.net.

Bitcoin Price Blunders, Suffers Decline

Share
Dub 29

Industry Report: EU Gets Serious, Blockchain Does Healthcare

Source: bitcoin

ECB EU

Want to catch up on the latest digital currency news? Recently, the EU has been making waves in the blockchain space. Take a gander at the stories below to see what you’ve been missing.

Also read: Industry Report: Kraken, Others Receive Large Investments

THE EU

The European Union is getting serious about bitcoin. Digital currency exchange Bitstamp has received an official license from Luxembourg, a little country with some large aspirations, making it Europe’s first fully regulated institution for bitcoin. Several newcomers are now looking to get in on the trade, and crypto popularity in Europe is expected to increase tenfold.

The license is set go into effect on July 1st of this year. One of the highest priorities of all digital currency applications is customer safety, and Bitstamp isn’t willing to take any chances.

Co-founder and CEO Nejc Kodric explained in a press release:

“We have put a lot of time and resources into the regulatory process with the goal of ensuring customers feel more confident in using Bitstamp’s exchange and products across the European Union… We are proud to have taken this important step for our customers and the digital currency/blockchain industry globally.”

BLOCKCHAIN HEALTHCARE?

First came Obama’s Affordable Healthcare Act; Obamacare. Now, the blockchain is spreading its wings in the world’s health industry, and the ways we do medicine and emergency surgery are about to undergo some massive changes.

With the introduction of Gem Health, a blockchain based around healthcare data is emerging with the goals of keeping records and data safe and sound, and connecting people on a global scale to reasonable and accessible healthcare providers. It is also being implied that Ethereum will be integrated for the handling of private health infrastructure.

Micah Winkelspecht, founder and CEO of Gem, stated:

“Blockchain technology will create a new fabric that connects the entire healthcare industry, weaving together critical data from every stage of the continuum of care… Blockchains address the trade-off between data availability and data security. For healthcare, this enables hospitals, insurance companies and labs to connect in real-time and share information instantly and seamlessly – without exposing those channels to theft or forgery.”

Through Gem Health, those in need of appropriate medical attention can likely rest assured that their information will be kept private and invulnerable to dangers like hackings and related cyber-attacks.

What stories would you like to see mentioned in our weekly industry reports? Post your thoughts and comments below!


 

Images courtesy of Ugandaexports.go.ug & unomaha.edu.

The post Industry Report: EU Gets Serious, Blockchain Does Healthcare appeared first on Bitcoinist.net.

Industry Report: EU Gets Serious, Blockchain Does Healthcare

Share