Page 1 of 2

Namecoin ATM

Posted: Thu Mar 20, 2014 3:14 pm
by virtual_master
A lot of Bitcoin ATMs came out last time on the market.
I am asking if some of them could be configured to register namespace entries.
Selling Namecoins I guess most of them could do. Some of them are already supporting other altcoins.
What strategy should we adopt here ?

Re: Namecoin ATM

Posted: Sat Mar 29, 2014 7:23 pm
by kurt
deleted

Re: Namecoin ATM

Posted: Thu Jun 26, 2014 11:08 am
by virtual_master
Something like Slyhook with 999$ would be ideal if it could be configured for Namecoin:
http://www.coindesk.com/skyhook-ships-1 ... tcoin-atm/
http://www.coindesk.com/skyhook-release ... n-atm-999/

For registering name entries on a physical machine would be more difficult to adapt an existing Bitcoin ATM but would have the advantage that it could work even in countries where a sales tax(20-30%) would apply and therefore an exchange machine from fiat to cryptocoin cannot work as business model as no exchange can add 25% to the actual price.
Buying Namecoin entries could avoid this as it would work like domain or id registrations.
Or they could even deposit fiat in a name entry which could be withdrew by another machine or by an online exchange - this could be different from a regulatory point of view then buying Bitcoins or Namecoins which could be considered like taxable final products. Of course a strong guaranty would be required in which people can trust - a trust system eventually with a financial institute.
I spoke with somebody from the Tembusu ATM and they are planning something similar but with Ripple and in a Western Union money transfer style - so keeping the fiat only short during the transfer between two ATMs. But it could work on Namecoin also and in a more flexible style.

Re: Namecoin ATM

Posted: Fri Jun 27, 2014 5:44 am
by domob
In recent discussions with the local cryptoparty group, some have also shown interest in a simple way to get namecoins. This would be a very good thing to get Namecoin IDs with key fingerprints (for instance) more widely used. Note that I wouldn't even consider it a game-stopper if the ATM would have to add 25% in taxes - just putting in a 5 Euro note would get you namecoins for your whole family and the rest of your life, if all you want to do is register an id/ name.

Re: Namecoin ATM

Posted: Thu Jul 10, 2014 9:08 pm
by virtual_master

Re: Namecoin ATM

Posted: Sun Jul 27, 2014 2:36 am
by indolering
Namecoin's value comes is derived from it's utility as a naming system, not as a currency. An ATM wouldn't be a bad thing (I have a friend who is doing a Seattle Bitcoin ATM) but I'm 100% against devoting resources to this.

Going up against Bitcoin as a currency is suicide.

Re: Namecoin ATM

Posted: Mon Jul 28, 2014 5:41 am
by domob
indolering wrote:Namecoin's value comes is derived from it's utility as a naming system, not as a currency. An ATM wouldn't be a bad thing (I have a friend who is doing a Seattle Bitcoin ATM) but I'm 100% against devoting resources to this.

Going up against Bitcoin as a currency is suicide.
I agree with you (although it seems there are people pushing for Namecoin as a currency, but we shouldn't invest resources into that). However, I think that looking forward, it would be great to have an easy-to-use way for strangers to buy namecoins. Otherwise it is quite hard for a newcomer to actually register an identity or domain or whatever. An ATM (or support for Namecoin in existing ATMs) could help here.

Re: Namecoin ATM

Posted: Wed Aug 13, 2014 12:08 pm
by sudoquai
Hi,

i've spoken to the developer of http://bit.no.com. Maybe he has realized already what you are searching for.

He said at 06.07.2014:

Also I'm way too busy these days to start working on something like
that (currently finishing atm4coin.com [1], will be able to cash in

& out namecoin by next week; I also want to do an interactive name &
id registration module on the atm itself, under an additional
services category).

Could somebody confirm this, please ?

Best regards,

Sudo.

Re: Namecoin ATM

Posted: Wed Aug 13, 2014 12:13 pm
by sudoquai
domob wrote:
indolering wrote:Namecoin's value comes is derived from it's utility as a naming system, not as a currency. An ATM wouldn't be a bad thing (I have a friend who is doing a Seattle Bitcoin ATM) but I'm 100% against devoting resources to this.

Going up against Bitcoin as a currency is suicide.
I agree with you (although it seems there are people pushing for Namecoin as a currency, but we shouldn't invest resources into that). However, I think that looking forward, it would be great to have an easy-to-use way for strangers to buy namecoins. Otherwise it is quite hard for a newcomer to actually register an identity or domain or whatever. An ATM (or support for Namecoin in existing ATMs) could help here.
It's not suicide - it's a additional feature, which gives Namecoin higher attraction and adoption. Namecoin IS a cryptocurrency.

The same people, which use Namecoin as a currency know that they could USE this coin as well (and they will do that). Namecoin as a currency offers a intrinsic value because it can be used as a decentralized data storage as well (for example .bit domains).

The fact that Namecoin is not accepted widely (yet) by internet shops means nothing - this is possible in the future. There is no reason to argue agains, because Namecoin usage as a currency will for sure not harm the price or people which want to use Namecoin for .bit domains and /id only.

Best regards,

Sudo.

Re: Namecoin ATM

Posted: Thu Aug 14, 2014 6:37 am
by tosh0
Of course NMC should be another option in current atms, i see some manufacturers, btcpoint and bitcoinatm for example have LTC and doges, but no nmc. It may be because the wallet have problems facing the internet, namely lack of anti-dos and various vulnerabilities that can cause it to crash. Just like the last week crash of NMC wallet on ANX.