Re:First Bitcoin ATM
by pedalpete on Sunday October 27, 2013 @06:38PM
(#6623954)
Why is this machine always asking for the users fingerprints? Doesn't that break the anonymity of bitcoin?
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My understanding is that it's to comply with money-laundering laws. They limit the size of the transaction per-day and per-person.
I haven't bought bitcoins (online or through an ATM), but it seems any purchase of bitcoins from any electronic money transfer would have the same issue of breaking anonymity. I suppose there are ways to anonymize the funds once you have them.
This is it really. There's a limit to the amount of cash they can do per person per day, and this is a way to ensure people don't go over the limit.
Re:First Bitcoin ATM
by colinloretz on Sunday October 27, 2013 @07:27PM
(#6624169)
It doesn't seem like the scanner is required for these machines and it does so using palm-vein scanning, not fingerprints. They are doing so to prevent any single user from withdrawing over a legal limit in a day.
"If enabled, the Palm Vein Scanner can limit a user's daily transaction amount by taking a unique, anonymous (no fingerprints) infrared picture of a customer's blood vessels to assist in AML compliance."
Re:First Bitcoin ATM
by thaumasiotes on Sunday October 27, 2013 @08:19PM
(#6624324)
It's difficult to argue that information which is specifically used to uniquely identify you is "anonymous".
Re:First Bitcoin ATM
by betterunix on Sunday October 27, 2013 @07:44PM
(#6624224)
What anonymity of Bitcoin? Nothing in the design of Bitcoin protects anonymity, nor is it a clearly stated security goal.
I think they are trying to avoid fraud. Since they seem to be limiting to amount you can withdraw, they probably need some way to authenticate you.