Proposal “A_DASH_BRANED_ATM_IN_SOUTH_JERSEY_USA“ (Active)Back

Title:A DASH Branded ATM Systems South Jersey USA
Owner:PhilaDASHia
One-time payment: 75 DASH (6160 USD)
Completed payments: no payments occurred yet (1 month remaining)
Payment start/end: 2017-03-20 / 2017-04-19 (added on 2017-03-20)
Votes: 587 Yes / 130 No / 5 Abstain
Will be funded: Yes
Manually vote on this proposal (DashCore - Tools - Debugconsole):
gobject vote-many c529d7d7483f84b2f912edd4f225cd5f665e0c1937b28d7addc401e42cb5539e funding yes

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Proposal description

What is this proposal for

Install Dash enabled ATM with Zero Buying Fees in mid / south New Jersey location and contracts TBD

This machine will be enabled with two way purchases when General Bytes make the update to their client management software.

gobject vote-many c529d7d7483f84b2f912edd4f225cd5f665e0c1937b28d7addc401e42cb5539e funding yes

Why should Dash fund this?

Hi do you support the idea of DASH ATM? Such as proposed by thesavoyard? You will enjoy this proposal as well then. I have been working on starting to gear up to deploy DASH ATMs in the Philadelphia / Delaware Valley metro area of New Jersey and later into PA and DE. Funding this will allow our Dash enabled ATM to charge zero fee to buy DASH, giving us a competitive advantage.

UPDATE 3/23 the machine will service with zero fees until the sum of $70,000 in USD are transacted through the machine. During this time I will provide usage statistics and reporting.

Who are we?

Hello my name is Brian and I have been in the DASH community since Feb
2014. You might know me on the dash nation slack s as PhilaDASHia or on the Forums as Miner237
I also volunteered to assist at the Miami NABTC 2017 event and talked with several high
net worth individuals who are now invested in DASH since our discussions
at the conference. I currently work full time as IT systems consultant
with 20+ years IT experience working with fortune 500+ companies to
design and implement IT solutions to meet business needs for my clients
such as, DVF.com, Wakefern Foods (shoprite), Pinnacle Foods, Cohen Steers, Dorman
Products, Regional National Distributors, Cobham, Bucknell University,
Princeton University, Meridian Health and plenty more. Not only do I
have an IT background but I currently own the Lamassu and the General
Bytes BATMTWO. I have been operating Crypto Teller machines for private
use of friends and family since early 2016. I have been registered as
MSB and am registered with Fincen. I am currently awaiting approvals for
a money transmitter license for New Jersey.

Estimated Costs

Purchase of 1 BATMThreeM+ teller machines for installation in South New Jersey USA

BATMTHREE = 70 DASH
Proposal Reimbursment = 5 DASH

Total = 75 Dash

Show full description ...

Discussion: Should we fund this proposal?

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0 points,1 day ago
I am glad this got funded
Reply
0 points,1 day ago
All -
I think funding the placement of ATM machines to buy Dash is a bad idea. Sure, the ATM may charge zero fees to buy, but this just means that the fees and mark-up are just placed elsewhere like in the exchange rate the ATM offers. Also, if folks can allow the purchase of Dash from an ATM, why not just stand-up a web site to buy Dash? Why incur the hardware and HW maintenance costs? Costs to rent the spot? Why make folks find and walk up to a physical kiosk?
The *only* reason I see for a Dash enabled ATM would be if someone can use it to exchange Dash for cash. Until that happens, we should not fund Dash ATMs. A vague promise that this might happen in the future does not seem strong-enough to overcome the downsides of this proposal.
Reply
0 points,1 day ago
I hear what you are saying, for people who have exchange accounts setup they don't need to "go somewhere" but what about for people who don't, for people who might not have bank accounts to even link the exchange with, for people who are always asking well "how do I buy dash" now they can have a direct FIAT on ramp to DASH, no need to buy BTC and convert and trade etc....The bidirectional support is due this summer we intend to support selling DASH for CASH at the machine with somewhere between 3 - 8% conversion rate on sales to FIAT.
Reply
1 point,1 day ago
You got funded. Good luck. Hope to see DASH for CASH soon.
Reply
0 points,14 hours ago
+1,000,000
Reply
0 points,2 days ago
Can I ask, do you intend to come back with a proposal to support the maintenance of the ATM or do you have the expectation that these will be payable via the fees you will received from the ATM use? If so, rather than just showing the upfront costs I'd like to see them all outlined in the proposal. There are other ATM project proposals and a lot of the budget might end up getting inefficiently distributed if upkeep is too expensive. The Dash community might need to be more selective about where these are positioned worldwide if ATM upkeep proposals are going to flood in. This is one concern I have so if you could clarify your expectations about upkeep funding that would help me come to a decision. thx
Reply
0 points,1 day ago
I do not intend to ask for operating costs later on. The rent or utilities costs should be covered from fees on BTC or other CVC offered by the machines, DASH will have zero fee to buy, just the same cost for me to buy from exchange and deliver at the machine. This summer GeneralBytes should have two way support and I will charge a fee to sell DASH to CASH. If these fees do not cover the cost to operate the machine I will still pay costs up to the cost reimbursed by the network to operate at a loss or if not at a loss until $70,000 in DASH volume has been surpassed at which point the fees would have made up for the cost of the machine.
Reply
1 point,4 days ago
How long do you plan to charge 0 fees on your machine? Provided your machine sees use, will you not make any profit indefinitely?
Reply
1 point,4 days ago
good question, this actually came up in dash nation chat. I added the update to the description here. I will offer zero fees and reporting until 70k in volume.
Reply
-1 point,4 days ago
Voting No. Crypto is money for the internet. ATMs are money of the physical world. I am not aware of any successful crypto ATM project that gets a decent amount of use.
Reply
0 points,5 days ago
Voting yes, not overpriced or locking in multiple months, I like these kinds of proposals.
Reply
0 points,5 days ago
Voting yes
Reply
0 points,5 days ago
This seems pretty cheap for what we are getting. He's taking a significant risk. He has offered us access to the data, and he has a plan B if the volume is too low to make money. Voted yes.
Reply
0 points,6 days ago
im voting yes. Over time this will get us noticed.
Reply
0 points,6 days ago
Voting yes, don't make me change it ;)
Reply
3 points,7 days ago
I voted yes because phillidashia is a long time community member, and he says he'll keep the fees down to 0. He'll add the cash withdrawl when it's available from the BATM Mfg and has already applied and is awaiting his money transmitter license.

ATMs are freakishly expensive to use, and having one with low fees, or, hopefully, having many in many places eventually, is a great on-ramp for Dash users. Certainly this is a worthwhile experiment to see how many take advantage of the ATM.
Reply
1 point,7 days ago
Are there any regulatory or compliance hurdles that you must overcome to have the Dash ATM installed or are you 100% sure there will be no issue getting this approved by regulators?

Are there any other Dash ATMs in the USA at the moment? If you can indeed set up this Dash ATM in New Jersey, how will you choose the specific site? In other words, what are the qualities you're looking for in the area you choose (foot-traffic, presence alongside other ATMS or BTC ATMs)? Also, how will people know they could purchase or sell cryptocurrency at this location? Will you advertise and if so how, or will you rely solely on a Dash banner on the ATM to attract people?

Do you plan to offer the exchange of Dash without a fee to give us a competitive advantage over BTC exchange which would have a fee? This seems smart as we can attract the BTC users and then show them a more profitable cryptocurrency exchange option at the same ATM. Could you put a Dash advertisement on screen that acts as a screensaver? It could be made of 5-6 images of Dash's key features and advantages that replay while the ATM is idle.

Ideally, you would place this Dash ATM next to a known popular bitcoin ATM and then only offer Dash conversion to dollars and dollars to Dash but do so at much better exchange rates.

What will be the ongoing upkeep fees for this ATM for Dash if any? If there aren't any ongoing costs, that implies an ATM company with be making money off the ATM to keep it in service if I'm not mistaken. Please elaborate on how the exact arrangement might work long-term.

I'm sorry for lots of questions but I'd like to see this executed as well as possible
Reply
0 points,6 days ago
Yes I plan to offer dash at zero cost from this particular ATM if purchased by the network. I only charge a fee to convert DASH to CASH. However there are no other BTC machines to place it "next to any known popular bitcoin ATM" There are only about 4 total BTC ATMs in all of new jersey. Most are 80-90 miles north of here, none are two way machines.

As far as ongoing upkeep costs I listed some of the fees, depending on the placement there could be a monthly rental fee since there is not transaction fee to share with merchant shop owner. In a low traffic area that might be $50 / month. I am considering renting a kiosk in one of the big malls here for 2 months maybe that would be about $1000-1200 per month rent.
Reply
0 points,6 days ago
In regards other ATM running DASH in USA, I am not sure without contacting each operator. I have been in contact with several operators in California and in Denver, neither are supporting DASH yet.

As far as this area there are absolutely none of these units selling BTC or DASH down here is Southern Jersey. There are a few stores I have heard that will sell you BTC latterly over the counter right off their backend computer.
Reply
0 points,6 days ago
thank you for the multiple questions and thoughts, I care about DASH and starting this business and I am glad you are cautious for DASH. I may need to answer in a few replies as I am about to run out to a client site in 15 min.

Regulatory Hurdles, Yes its insane but I am in the final stretch no more jumping just waiting. for my business I haentity and register with multiple agency Fincen, MSB, undergo background checks, register all my finger prints with the Feds, complete a 5 year financial audit, take out a $100,000 surety bond each year, and every two years the company will need the CPA to do a financial audit of the company.
Reply
0 points,6 days ago
Yea I would also like to know more before I decide to vote yes. Mainly because the other ATM proposal expects a yearly cost of 25K to run/setup the ATM wich will only partly be paid in Dash. But you don't seem to mention any other costs besides the actual ATM.
Reply
0 points,6 days ago
Hello yes there is much cost and risk involved to run ATM in USA.
Yearly off the top of my head there is 700 license fee 5000 Legal fees 2500 accounting fees, the cost to drive around, firearms permits, rental space costs vary location TBD
Reply
1 point,7 days ago
I'm voting yes on this one, not yet sure about the other atm prop as I don't recognize the person submitting it.
IIRC Core is/was doing something like this too where the ATM fee's/profits go back to the MN owner's somehow automagically via the software. Seems like quite a feat to pull that off but one i'm looking forward to supporting as well.
Reply
1 point,7 days ago
I am new but I have a business license and tax ID if you'd like. You can be assured I will deliver, I am legally obliged. dash would only be paying a small portion of my first years costs which are around 25k Euros. But you'd be getting Dash access in a major city, lower fees for Dash users and Dash banding on the ATM. My proposal would have a strong motivator for people to use Dash over BTC.
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0 points,6 days ago
I trust Tante's opinion a lot. Therefore, given the relative abundance of budget, i'll upvote.
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0 points,7 days ago
I voted yes as per the reasons on the other ATM proposal. When installed can the community get access to the usage statistics? This is what is valuable to drive further expansion if the stats stack up.
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0 points,7 days ago
Yes I will be more than happy to be open and transparent with transaction volumes on a weekly basis. I am trying hard to find a 24/7 location where the machine can really flourish. If i can not secure the 24hour location, I am also considering relocation the machine after a couple weeks to find how different locations affect sales volumes... Malls vs Conveience Store vs High Traffic Tourist Area
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