Bots Inc (BTZI)

[lesgetrich]

Your opinion on this is worthless while the patent is priceless. Every ATM or Kiosk that can convert cash or credit card balances to Bitcoin would fall under this patent. Consequently, the patent covers every Bitcoin enabled ATM in the US, which means virtually all cryptocurrency ATM's since BitCoin is the most common and valuable cryptocurrency in the world. Currently, these ATM's are set up with wallets (like bank accounts) that can easily communicate primarily with that ATM or ATM's that belong to the same owner. By creating the software to allow different ATM's to share data over a network, Bots will be creating extra value for the ATM owners and at the same time allowing them to share in the profits from the new venture. This should be a major incentive for them to voluntarily submit to a royalty (i.e. they'll be getting something valuable for their cooperation and payments).

Bots hasn't given us an estimate of the revenue they expect from the network, but it could eventually exceed the patent revenue. Particularly if ATM owners in the regular banking industry decide they want to Bitcoin enable all of their current ATM's. While the patent would establish Bot's as an industry player, unlike the patent, the network would have no expiration date and would be able to collect a surcharge for each transaction ad infinitum.