Prototype bitcoin exchanger

At today's Bitcoin London conference, the founder of the startup Lamassu Bitcoin Ventures showed a prototype of the Bitcoin Machine device, which allows everyone to exchange their cash for Bitcoins just like bank terminals do - only in this case, of course, anonymously and quickly.

In the best traditions of start-ups, the founder of Lamassu Bitcoin Ventures, Zach Harvey, said that the first Bitcoin Machine was assembled in February of this year in his garage, has a small size (33 cm * 43 cm * 25 cm) and internal steel storage for money . It works with popular exchangers such as Mt.Gox or Bitstamp, and accepts banknotes from more than 200 countries.

The process of exchanging money for bitcoins looks like this:

• You need to let Bitcoin Machine scan the QR code of a bitcoin wallet
• Insert a certain amount into the slot to receive money (the device displays the current Bitcoin rates during operation)
• After about 10-20 minutes, when the transaction is confirmed, the money will go to the wallet.

The author strongly emphasizes that the process is specifically designed for maximum convenience and anonymity, so work with bank cards is not provided.
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Startup plans for the release of Bitcoin Machine are not limited to the prototype. In August of this year, the project should be launched into mass production and, allegedly, given the fact that more and more outlets accept bitcoins as a means of payment, the potential audience of the company should be quite solid. And the ability to make payments to people who have little understanding of what mining and bitcoin-pools are will only look like an added advantage.

It is curious that the monetization of Lamassu Bitcoin Ventures will consist only in the sale of equipment (the cost of the exchanger $ 4,000 - $ 5,000), installation and further maintenance - the company is not going to make money on the difference in rates or enter its exchange lag.

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