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MELY was supposed to mine 23 bitcoins every 23 hrs and have a pool that users could hash into to find coins of their own giving MELY 10%, last we heard they turning off in Eastern Washington and looking for better path forward but haven't heard ish for almost 2 years from our CEO, who's paying himself 180k+ annually while we wait and see whatever comes of the 1st Bitcoin sector mining stock.
Bye bye mely....there never was any money in bit coin mining....stupid concept to start with...lol. ..
Damn #rip boys
Did that years ago. Just had the remnants in a sock drawer.
MELY SEC Suspension for delinquent Financials/Filings:
https://www.sec.gov/litigation/suspensions/2017/34-81301.pdf
Order:
https://www.sec.gov/litigation/suspensions/2017/34-81301-o.pdf
Admin Proceeding:
https://www.sec.gov/litigation/admin/2017/34-81300.pdf
kiss your money goodbye
thats a different Microelectronics.
THUNDER
SOURCE: GREETINGS HERE IS THE NEWS YOU ASKED FOR
MOUNTAIN VIEW, Calif., June 26, 2017 /PRNewswire/ -- CEVA, Inc. (NASDAQ: CEVA), the leading licensor of signal processing IP for smarter, connected devices, today announced that Sanechips Technology Co., Ltd. (previously named ZTE Microelectronics Technology Co., Ltd.) has licensed the CEVA-X1 IoT Processor for its Narrowband-Internet of Things (NB-IoT) product, the RoseFinch7100. Sanechips leveraged the CEVA-X1 to develop an area- and power-optimized NB-IoT solution that is capable of delivering on the promise of long-life, low-cost cellular connectivity for IoT devices.
Demonstrating their commitment to NB-IoT, Sanechips recently took part in the first large scale field test of NB-IoT using its pre-commercial RoseFinch chipset. The trial, organized by China Mobile, tested the network of the entire mobile chain including core network, terminals and apps and was reported to have been successful in every aspect.
"NB-IoT is set to dominate long range IoT connectivity on a global scale, and Sanechips is proud to be at the forefront of this revolution," said Zhou Jin, Marketing director of Sanechips. "Closely collaborating with CEVA ensures we develop best-in-class products like the RoseFinch7100 that will enable mass market adoption of this technology. The CEVA-X1 IoT processor delivers exceptional performance within the stringent power and cost constraints of NB-IoT devices."
"We are delighted to announce our collaboration with Sanechips for their NB-IoT chipset designs," said Michael Boukaya, Vice President and General Manager, Wireless Business Unit at CEVA. "As the only end-to-end DSP provider for cellular, we leveraged our unique expertise to ensure our CEVA-X1 processor meets and exceeds the performance requirements of NB-IoT. This license deal with Sanechips represents a strong endorsement of our IoT processor for this new and exciting market."
About RoseFinch7100
RoseFinch7100, the first commercial NB-IoT single-chip from Sanechips which integrates the low power/high performance CEVA-X1 DSP IP for baseband, will be released in September 2017. This single chip has been designed for Cellular LPWA with the following characteristics: Lower sleep current 2uA and voltage 2V can provide longer battery life; Cloud-Chip Global Security based on Trusted Zone; up to 30 GPIOs and all R14 Frequency Bands; no need for an external MCU as the RoseFinch7100 can provide strong connectivity for most LPWA applications independently.
About CEVA-X1
CEVA-X1 is a hybrid DSP and microcontroller processor targeted for a broad range of endpoints and IoT hub devices, capable of handling both the protocol stack and physical layer for M2M. The CEVA-X1 is ideal for a variety of use cases and workloads, including LTE Cat-NB1 (NB-IoT) and Cat-M1, Sigfox, LoRa, Wi-Fi 802.11n, 802.11ah, Bluetooth, BLE, Zigbee/Thread, along with positioning and motion-sensing functions including GNSS (GPS, Beidou, GLONASS, Galileo), fusion of multiple indoor positioning and activity sensors, voice activation, and sound processing. CEVA-X1 contains specialized instructions to optimize overall system power, performance and chip area for baseband channel coding/decoding functions, as well as fusion of multiple always-on sensors. Thanks to these optimizations, 5 to 10 year single battery operation at a very low cost is easily achievable. The CEVA-X1 is supported by market-leading hardware and software development tools, software libraries and the extensive CEVAnet partner ecosystem. For more information, visit http://www.ceva-dsp.com/product/ceva-x1/
About Sanechips Technology Co., Ltd.
Sanechips Technology Co., Ltd., the new name of Shenzhen ZTE Microelectronics Technology Co., Ltd. established in 1996, has 20 years R&D experience with 3000 patents (top1 of China in 2016), and more than 2000 employees located at 9 R&D centers globally in China, Canada & the USA. As a Communication Chipset focused IC company, Sanechips has a full roadmap for Cloud/Channel/Device, its total sale revenue is over $0.82B (5.6 billion RMB, top3 of China in 2016). Based on WiseFone 4G chipset, multiple MBB, M2M & creative devices have been shipped to China & 30 overseas countries in 2016. Strategically, Sanechips pays close attention to NB-IoT & 5G chipsets that it believes can generate tens of millions of shipments and help Sanechips become the world's leading Communication IC Company in the future.
About CEVA, Inc.
CEVA is the leading licensor of signal processing IP for a smarter, connected world. We partner with semiconductor companies and OEMs worldwide to create power-efficient, intelligent and connected devices for a range of end markets, including mobile, consumer, automotive, industrial and IoT. Our ultra-low-power IPs for vision, audio, communications and connectivity include comprehensive DSP-based platforms for LTE/LTE-A/5G baseband processing in handsets, infrastructure and machine-to-machine devices, advanced imaging, computer vision and deep learning for any camera-enabled device, audio/voice/speech and ultra-low power always-on/sensing applications for multiple IoT markets. For connectivity, we offer the industry's most widely adopted IPs for Bluetooth (low energy and dual mode), Wi-Fi (802.11 a/b/g/n/ac up to 4x4) and serial storage (SATA and SAS). Visit us at www.ceva-dsp.com and follow us on Twitter, YouTube and LinkedIn.
SOURCE: HOSSEYN GOODBYE
Have u tried calling the phone number posted in the preceding posts?
Its no longer in service
Haven't you seen the price of Bitcoin lately? Brett doesn't even have the common sense to capitalize on this sector move. All he had to do was issue some type of press release stating that the company was in ongoing talks with anyone or anything having to do with Bitcoin, and this stock would have gone up 1000% easy
Where did you hear there'll be an update soon?
The pump and dump forum ?
QB stock should move up fast.
hearing updates soon.
Is it soon yet? LORD knows I've been waiting to see this pop above .01.
Might start running with the sector. Last time bitcoins got hot it went to .0008 and the market is getting hot. If any update from company, .0010+ is realistic... Update unlikely tho.
two years ago they had 3 low-powered bitcoin mining machines running. Since then, nothing. CEO took out a ton of debt against the company, paid himself with it via 'consulting fees' and then ran. Only reason MELY ever moves is because it's an easy pump and dump, due to it being related to bitcoins. Company hasn't been operational in well over a year now.
What exactly does microelectronics do?
Still waiting soon enough though
The 1st Bitcoin mining stock is in coma... when will it wake up and run?
Good time to get .0001's
Yes, him and that chick that used to pop up from time to time. I'm sure she made out as well. Wonder what scammarama they're plotting next? I want in early. lol
It's not a 'think' Brett took the money and ran. It's in the financial statements. Their last quarterly statement is here:
https://www.sec.gov/Archives/edgar/data/1329136/000159406215000129/form10q.htm#p1
Under the Consolidated Statement of Operations --> Expenses --> Consulting fees. In the previous nine months, MELY paid out $1.2M in consulting fees (with 976k of that in the first quarter of 2015).
The only consultant or employee working with MELY was Brett. Funny how right after he paid himself all the remaining money, he stopped responding or doing any work here. He basically just took out a bunch of debt, sold a ton of shares in the company, and then took all the proceeds and went radio silent.
Alas, I think they took the money and ran. I remember one poster showing up at a tradeshow and there was a big gorilla by the MELY booth to keep away pissed off investors. lol
Heres the news you asked for!!!
MOUNTAIN VIEW, Calif., June 26, 2017 /PRNewswire/ -- CEVA, Inc. (NASDAQ: CEVA), the leading licensor of signal processing IP for smarter, connected devices, today announced that Sanechips Technology Co., Ltd. (previously named ZTE Microelectronics Technology Co., Ltd.) has licensed the CEVA-X1 IoT Processor for its Narrowband-Internet of Things (NB-IoT) product, the RoseFinch7100. Sanechips leveraged the CEVA-X1 to develop an area- and power-optimized NB-IoT solution that is capable of delivering on the promise of long-life, low-cost cellular connectivity for IoT devices.
Demonstrating their commitment to NB-IoT, Sanechips recently took part in the first large scale field test of NB-IoT using its pre-commercial RoseFinch chipset. The trial, organized by China Mobile, tested the network of the entire mobile chain including core network, terminals and apps and was reported to have been successful in every aspect.
"NB-IoT is set to dominate long range IoT connectivity on a global scale, and Sanechips is proud to be at the forefront of this revolution," said Zhou Jin, Marketing director of Sanechips. "Closely collaborating with CEVA ensures we develop best-in-class products like the RoseFinch7100 that will enable mass market adoption of this technology. The CEVA-X1 IoT processor delivers exceptional performance within the stringent power and cost constraints of NB-IoT devices."
"We are delighted to announce our collaboration with Sanechips for their NB-IoT chipset designs," said Michael Boukaya, Vice President and General Manager, Wireless Business Unit at CEVA. "As the only end-to-end DSP provider for cellular, we leveraged our unique expertise to ensure our CEVA-X1 processor meets and exceeds the performance requirements of NB-IoT. This license deal with Sanechips represents a strong endorsement of our IoT processor for this new and exciting market."
About RoseFinch7100
RoseFinch7100, the first commercial NB-IoT single-chip from Sanechips which integrates the low power/high performance CEVA-X1 DSP IP for baseband, will be released in September 2017. This single chip has been designed for Cellular LPWA with the following characteristics: Lower sleep current 2uA and voltage 2V can provide longer battery life; Cloud-Chip Global Security based on Trusted Zone; up to 30 GPIOs and all R14 Frequency Bands; no need for an external MCU as the RoseFinch7100 can provide strong connectivity for most LPWA applications independently.
About CEVA-X1
CEVA-X1 is a hybrid DSP and microcontroller processor targeted for a broad range of endpoints and IoT hub devices, capable of handling both the protocol stack and physical layer for M2M. The CEVA-X1 is ideal for a variety of use cases and workloads, including LTE Cat-NB1 (NB-IoT) and Cat-M1, Sigfox, LoRa, Wi-Fi 802.11n, 802.11ah, Bluetooth, BLE, Zigbee/Thread, along with positioning and motion-sensing functions including GNSS (GPS, Beidou, GLONASS, Galileo), fusion of multiple indoor positioning and activity sensors, voice activation, and sound processing. CEVA-X1 contains specialized instructions to optimize overall system power, performance and chip area for baseband channel coding/decoding functions, as well as fusion of multiple always-on sensors. Thanks to these optimizations, 5 to 10 year single battery operation at a very low cost is easily achievable. The CEVA-X1 is supported by market-leading hardware and software development tools, software libraries and the extensive CEVAnet partner ecosystem. For more information, visit http://www.ceva-dsp.com/product/ceva-x1/
About Sanechips Technology Co., Ltd.
Sanechips Technology Co., Ltd., the new name of Shenzhen ZTE Microelectronics Technology Co., Ltd. established in 1996, has 20 years R&D experience with 3000 patents (top1 of China in 2016), and more than 2000 employees located at 9 R&D centers globally in China, Canada & the USA. As a Communication Chipset focused IC company, Sanechips has a full roadmap for Cloud/Channel/Device, its total sale revenue is over $0.82B (5.6 billion RMB, top3 of China in 2016). Based on WiseFone 4G chipset, multiple MBB, M2M & creative devices have been shipped to China & 30 overseas countries in 2016. Strategically, Sanechips pays close attention to NB-IoT & 5G chipsets that it believes can generate tens of millions of shipments and help Sanechips become the world's leading Communication IC Company in the future.
About CEVA, Inc.
CEVA is the leading licensor of signal processing IP for a smarter, connected world. We partner with semiconductor companies and OEMs worldwide to create power-efficient, intelligent and connected devices for a range of end markets, including mobile, consumer, automotive, industrial and IoT. Our ultra-low-power IPs for vision, audio, communications and connectivity include comprehensive DSP-based platforms for LTE/LTE-A/5G baseband processing in handsets, infrastructure and machine-to-machine devices, advanced imaging, computer vision and deep learning for any camera-enabled device, audio/voice/speech and ultra-low power always-on/sensing applications for multiple IoT markets. For connectivity, we offer the industry's most widely adopted IPs for Bluetooth (low energy and dual mode), Wi-Fi (802.11 a/b/g/n/ac up to 4x4) and serial storage (SATA and SAS). Visit us at www.ceva-dsp.com and follow us on Twitter, YouTube and LinkedIn.
Logo - http://photos.prnewswire.com/prnh/20120808/SF53702LOGO
And then when you least expect it, this ticker will make a run.
This thing is dead. Owner left. Nothing here people don't waste your time and money on this pos
We all lost money on it, it's useless
Well your not going to be able to get out then , is what your saying...a little hype or attention might get some volume to get out.. if you think it's toast keep telling everyone that it's junk...so it be stuck at 0001 or lower...people got to learn to bite their tongue for their best interest...i hate these lottos too but got to risk something to get possible return...it happens just gotta be in when it does...
But MELY is no longer in the business of Bitcoin
Arent you aware of this?
Havent you been in touch with CEO Brett Everett?
His number has been posted here scores of times.
It was disconnected 2 weeks ago when too many shareholders began asking him the same question.
I own this piece of shit at .0001 and .0002
Load up on $ MELY. Bitcoin
____________ Alerting - MELY Traders ! __________________
MELY 0.0001 - HOLD
https://www.barchart.com/stocks/quotes/MELY/overview
The Barchart Opinion rating is a Hold.
Short term, the outlook is Bearish.
_________________________________________________________________
Alerting - MELY Traders !
MELY - Will Soon be Climbing the Breakout Board
If you want to see Your stock at the #1 Position,
all you have to do is make 10-Posts
on the MELY Board,
and any General Board, daily !
* Stocks that make it to the Top of the Breakout Board,
receive Full I-Hub Awareness
* CEO's will release News and Filings,
when they see that their company stock,
is at Full I-Hub Awareness !
_________________________________________________________________
Profile / News / Filings
http://www.otcmarkets.com/stock/MELY/profile
http://www.otcmarkets.com/stock/MELY/news
http://www.otcmarkets.com/stock/MELY/filings
News / Targets
http://www.allotcbb.com/quote.php?symbol=MELY
Time and Sales
http://www.investorpoint.com/stock/MELY-Microelectronics+Technology+Co/market-makers-level2/
http://www.investorpoint.com/stock/MELY-Microelectronics+Technology+Co/price-history/
Analysis / Charts
https://ycharts.com/companies/MELY
https://www.barchart.com/stocks/quotes/MELY/overview
https://www.barchart.com/stocks/quotes/MELY/interactive-chart
http://www.stockscores.com/quickreport.asp?ticker=MELY&x=0&y=0
Short Information
http://shortsqueeze.com/?symbol=MELY&submit=Short+Quote%E2%84%A2
http://otcshortreport.com/?index=MELY&action=view
https://www.interactivebrokers.com/en/index.php?key=MELY&cntry=usa&tag=United+States&ib_entity=llc&ln=&asset=&f=4587&conf=am&amref=1
________________________________________________________________
Live! Charts
MELY's ph#(949)436-9382 has been DISCONNECTED
Guess Brett was tired of his shareholders actually calling wanting to know if the company was still in business.
What an a$$hole Brett Everett is.
I lost 13k pre R/S and wisely bought x amount when it fell under .0010 and a boatload at .0001 averaging down. Still think it can wake above .0050 but no doubt I'm one of the biggest losers here, but I've got a run to .0008 and above .0003 this year so it moves and can at least be flipped for funds. Last run I didn't flip any. Waiting for the Bitcoin payoff Brett probably never planned on following through with :( hoping! ??
This is a money making operation! they sell so we can buy!
SMCH
Have we tried the Beaches of CALIFORNIA? GOOD MAI TAI'S
SMCH
Yeah so if I sent this name and the other ones on this message board to the SEC, you have nothing to worry about? You see I know I will never get my money back unless Brett does his job.
However, Karma is beautiful and I can actually take down a scam which would feel really good. Like, really, really good.
So yeah this is my plan. Go ahead report to the admins. I am cool with that.
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The acquisition includes the existing operational digital mining servers and support software . The Digital Currency Mining servers are currently being transitioned to the Dynamo Server co-location facilities with the transition expected to be completed by month's end. This transition will allow for peak efficiency utilizing the state of the art server facility and seamless expansion capability Dynamo servers can provide.
Bitcoin Mining: BTC
Upon the completion of the Digital Mining Server install ation at the Dynamo Server co-location facilities, the company will begin to offer fractional Bitcoin Digital Currency Mining server rentals to interested third parties for an annual fee based upon the hash rate available for partitioning.
It is anticipated that the partitions will be available for lease in minimum 20 Gh /s hash rates with any multiple of 20 Gh /s available.
"The acquisition ofa Bitcoin Digital CurrencyMining Corporation is an exciting development for Microelectronics Technology Co for several reasons," states company president Brett Everett. "With this acquisition the company is acquiring a new customer for the Dynamo Server division creating a vertical with significant growth potential at the same time entering into the dynamic Bitcoin arena with a business model that creates opportunity for entry level investors to participate in Bitcoin mining with limited financial exposure." The company expects to announce the completion of formal documentation by April 18, 2014.
The Dynamo Servers platform was built from the ground-up to accommodate the needs of modern dedicated server customers, with features that are unique to the market. A simplified pricing model was applied to an expansive configuration system, allowing for predictable pricing without the customization limitations or penalties that are common among providers. An API was built to allow for integration with custom software and 3rd-party services. Social features were added to enable a dialogue among customers and a level of transparency unheard of in the industry. As long-time dedicated server customers, the people behind Dynamo Servers built a platform that they would want to use themselves.
About Dynamo ServersDynamo Servers provide dedicated servers to clients through our point of presence in Vancouver, Canada inside a carrier neutral facility owned and operated by Cologix Inc.www.dynamoservers.com
About Cologix
http://www.cologix.com/en/company-profile.html
Cologix, Inc. is a network neutral interconnection and data center company headquartered in Denver, Colorado, that provides massively scalable interconnection services and secure, reliable colocation services in densely connected, strategically located facilities in Dallas, Jacksonville, Minneapolis, Montreal, Toronto and Vancouver. With more than 350 network choices and sixteen prime interconnection locations, Cologix currently serves over 700 carrier, managed services, cloud, media, content, financial services and enterprise customers. The company’s experienced team of communications infrastructure professionals is committed to providing its customers the highest standard of local customer support.
History
Operational since December 2010, Cologix has completed eight acquisitions and announced four new market expansions:
Our acquisitions to date have each brought long customer relationships, strategic business partners and unique interconnection capabilities in each of our markets. We are proud to be the leading presence in each of our markets.
Cologix Interconnection
We efficiently and cost-effectively support our customer’s growth strategies by facilitating thousands of interconnections for our 700+ customers within our 18 data centers. With a choice of over 350 networks, our Meet-Me-Room environments offer massively scalable and dense connectivity.
“By deploying our network equipment with Cologix, we are able to respond quickly to the changing capacity needs of our customers while gaining access to a growing set of networks. Cologix staff are excellent and do a great job monitoring our onsite equipment, which allows us to focus on driving our business forward.”
– Dan Patton, Carrier Access Manager, FiberLight, LLC
Cologix is proud to support the Peering Exchanges in Minneapolis, Montreal and Toronto.
A robust internet exchange is an important ingredient to a vibrant and mature telecommunication market. Cologix believes that independent member-run organizations are in the best interest of the exchanges as well as the Internet community as a whole. Cologix is proud to host these organizations within our data centers and are pleased to provide our customers direct access to them via our Meet-Me-Rooms.
peering@micemn.net or mpls.sales@cologix.com
peering@torix.ca or torontosales@cologix.com
The easiest way for customers to connect to these exchanges is through Cologix’sStandard Connections product. Through Standard Connections, customers can establish a point of presence in the Carrier Hotel with a single U Ethernet switch, which enables the ability to connect to the Exchanges as well as the other networks in Cologix’s Meet-Me-Rooms. This model makes access to the exchanges fast and easy and doesn’t require significant capital to get up and running.
About Cloud Data CorpCloud Data, a Nevada Corporation provides high availability dedicated web servers to small, medium and large companies under its brand www.dynamoservers.com.
www.clouddatacorp.com www.melypk.com www.dynamoservers.com
http://www.otcmarkets.com/news/otc-market-headline?id=16008274
About Microelectronics Technology Corporation,
through the acquisition of Cloud Data Corporation, an Incubator of Internet technologies, is positioned to capitalize on the exponential growth of today's technology market within Cloud Computing.
Cloud Data Corp allows Microelectronics Technology Corporation to differentiate itself within the technology market by providing leadership in the following areas:
Microelectronics Technology Corporation
Microelectronics Technology Corporation, through the acquisition of Cloud Data Corporation, an Incubator of Internet and Social media technologies, is positioned to capitalize on the exponential growth of today's technology market within Cloud Computing.
Roll out of Cloud Data Corp's own Advertising Network in the first quarter of 2012.
Sproq is next generation application hosting.
We provide tools to build your web application in the cloud. When you deploy an application on our platform you get a level of service that traditionally required a lot of custom engineering and setup. No longer will you need to buy and configure servers, operating systems, services, and networks. You can focus on your application, and let us handle the rest.
Here are some of the reasons you should build your application on Sproq:
We are currently gearing up to start sending invites for our beta. Enter your email to get on our invite list.
https://www.dynamoservers.com
We've been running servers and deploying websites for over 10 years. In that time, we have found that it is difficult to find cost effective dedicated servers in Canada. The existing services also seemed to always leave a lot to be desired. As we expanded our operations we decided to do something about it.
Aside from our great prices, there are many reasons to choose us.
One thing that always bothered us about dedicated server providers is the lack of price flexibility if you wanted something slightly different. Most providers will have some number of standard configurations, and if you want a slight change, such as some extra RAM, the extra cost is very high, compared to the purchase cost of the item. Some places will even allow you to make different configurations with the exact same specifications and you will get wildly different prices.
This doesn't seem fair to us, so we came up with an algorithmic pricing model that is based entirely on our purchase cost for components and services. This model allows for plenty of customization without penalizing you for simple changes. You can even build your server from scratch. In fact, our"standard" configurations are simply examples were built from scratch and saved.
All of our servers are made to order, and we provide plenty of options. This means you can get precisely what you want. If you want something that's not currently in our configuration options, let us know and we will get it from our supplier and add it to the system.
Obviously, with this level of customization, we won't be offerring any "1-hour servers," but we will try to get you up and running within 48 hours. If there is a delay, we will credit your account accordingly.
Even though we offer fully custom servers, we don't require contracts. We are fully confident in our services and believe that you will be likely to stick around. We also understand that the circumstances of a business can change at any time, and we don't want you to worry about being stuck in a contract.
We didn't just buy a bunch of servers and install some generic "server management" application. We built all of our tools from the ground up, in order to provide a unified interface to server management. This allows us the freedom to develop and provide unique features not found anywhere else.
This freedom means that we are not reliant on 3rd parties in order to deliver desired features. Really, our biggest obstacle to providing features is knowing what our customers or potential customers really want. If there is something you think we should offer, let us know.
We are not simply a data center that is selling dedicated servers on top of colocation offerings. We are a dedicated server customer with a growing need for our own servers. We know exactly what we want as a dedicated server customer and aim to provide our ideal experience to everyone.
By Kate Rogers
Published April 08,Bitcoin is headed to Washington.
The first ATM for the cryptocurrency will be unveiled to members of Congress Tuesday afternoon.
Made by Robocoin, the 750-pound ATM was first introduced in Vancouver, B.C. in October 2013, according to its blog. It trades the cryptocurrency for cash, and cash for bitcoins. To make a transaction, customers must provide an email, their palm print, a government identification, their face and cash. The verification process is in three steps, according to the company’s website.
The unveiling comes two months after MtGox, the largest bitcoin exchange, lost $620 million in bitcoin and filed for bankruptcy protection in Japan.
There are currently 10 machines overseas, according to a release from Robocoin, and one in California. Robocoin operates with the Bitstamp and Vault of Satoshi exchanges, and is working to integrate with others in the future. Each ATM retails at $20,000, and the company says it has sold 100 so far.
Robocoin CEO Jordan Kelley and Robocoin Co-founder and Chief Technology Officer John Russell will be at the unveiling Tuesday where members of Congress and the media can buy, sell and enroll in a bitcoin wallet account.
Those who have a bitcoin wallet or account can send their bitcoins to Robocoin and have their cash out within 10 minutes. Currently, bitcoin users have to go through individual online exchanges to cash out, which can take days.
Kelley says the businesses that buy and operate the ATMs have to adhere to anti-money laundering laws. “We’ve replaced the bank teller with hardware and software,” he says. “We reduced the time to less than five months and we removed the human error.”
When customers visit the machine, they enter their phone number and receive a text message to verify their identity. They then create a pin number and scan their palm, and then place their government ID into the scanner.
“Then the customer stands in front of the kiosk and takes a photo. We send those two photos to the human verification team. We match that they are the same., and then we send the customer a text message. The customer can then go back to the machine to buy and sell bitcoin,” Kelley explains.
Bitcoin was introduced as an open-source software code in 2009, and has since grown into a $1 billion industry. The digital currency is especially popular among those in the tech community.
The currency remains unregulated and February’s events have increased calls for government intervention. Some lawmakers are open to treating bitcoin more like cash with Rep. Steve Stockman, (R-TX) , introducing the “Virtual Currency Tax Reform Act” on Monday.
If enacted, this legislation would change the tax status of virtual currency. Last week, the IRS declared bitcoin would be taxed as property.
Stockman visited the New York City Bitcoin center Monday to discuss the legislation further. “This is a nascent industry. Along with 3-D printers and nanotubes, cryptocurrency is the future. We need to encourage it, not discourage it. There is risk associated with every budding industry in America,” he said in a release.
The IRS currently treats bitcoin as property and not a currency.
FBN’s Jennifer Rose contributed to this article.
Market Value1 | $331,706 | a/o Dec 9, 2014 |
Shares Outstanding | 1,658,532,541 | a/o Sept 30, 2014 |
Float | 1,658,422,541 | a/o Sept 30, 2013 |
Authorized Shares | 7,500,000,000 | a/o Sept 30, 2013 |
Par Value | No Par Value |
Shareholders of Record | 17 | a/o Oct 15, 2013 |
MELY Weekly Chart
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