Hey guys.
I'm sure some of you have seen this before (as i'm positive it was posted on the BTT NEM thread) but i thought i'd post it here just to stimulate some discussion:
https://www.youtube.com/watch?v=vnm4xFC2xNo
I personally found this extremely painful to watch. To me it goes to show that crypto's will not stand much of a chance for mainstream adoption when compliance with regulations poses massive walls and hurdles for people to buy into it. In all honesty i get the feeling that these regulations (ID checks, etc) are purposefully complex in order to cripple a legitimate contender to a monetary system thats letting us down (FIAT).
Certainly, regulation is important, but only if it's limited and fair. This is just ridiculous.
Just shows that sometimes, compliance isn't a good thing. After all, you could argue crypto's in many ways were a rebellious means of breaking free from the system we all have no choice living under, a system that applies laws and regulations to the little man that the rulemakers do not adhere by. These ATM's seem to contradict everything Crypto was initially about, because it's giving into the rules that are crippling it.
Anyone agree?
edit-
One of the replies caught my eye:
"This is awful. Machines like this pose an unnecessarily complex wall of entry to newcomers which will probably scare them off.
Why can't it be like buying a gift card or a pre-paid Visa card? You can walk into any drugstore, plop down some cash, and walk out with your shiny new card in hand."
This actually seemed like a good idea. By doing this, people could buy (Say, NEM) on a prepaid card, and use that card like any regular debit/credit card instead. You'd be using existing infrastructure with methods the average user will be familiar with - it won't be so jarring. But of course, i'm sure the legal hurdles and ramifications would make this extremely difficult to do.
By the way; i decided to post this in the NEM technical discussion, just in case at some point much later down the road, NEM considers ATM's and other such things.