Replies to post #49999 on DNA Brands Inc (DNAX)

[Ed the Trader]

"http://www.marketwired.com/press-release/dna-brands-closes-first-cryptocurrency-bitcoin-atm-agreement-otc-pink-dnax-2239543.htm "

This is a ridiculous press release.

As usual, Adrian tries to create buzz without substance that makes any logical sense.

In the PR, Adrian states, "The ultimate goal is to put Bitcoin ATM machines next to every Bank ATM machine throughout the country."

QUESTION: Where are bank ATM machines located?

ANSWER: Bank ATM machines are located on bank property.

Bank ATMs are built into the side of bank buildings.

Bank ATMs are bolted to the ground in drive-thru lanes.

Bank ATMs are even bolted to the ground just outside of bank buildings.

Do you really think that banks are going to allow their property to be cluttered with other people's ATM machines?

More importantly, do you really think that banks are going make their customers less secure by attracting more people near their ATM machines who are not bank ATM users?

There is ZERO possibility that banks are going to allow non-bank ATMs on their property.

Let's look at what functionality that Adrian claims the Bitcoin ATM machines will have. The PR says, "These machines will give the user the ability to both buy and sell bitcoin, and conduct monetary transactions, to both receive and dispense cash."

So, to simplify, the Bitcoin ATMs will perform the following functions:

1) allow users to buy Bitcoins,
2) allow users to sell Bitcoins,
3) accept cash from users to deposit into their virtual wallet,
4) dispense cash to users from their virtual wallet.

No additional hardware, such as a completely separate ATM machine, is required to perform any of these functions where a abnk ATM already exists.

With a simple software upgrade, any bank ATM machine could be modified to perform all of these functions, and more.

A bank ATM could be modified to access servers which allow buying and selling of Bitcoins.

A bank ATM could be interfaced with virtual wallets to allow depositing and retrieval of cash out of a virtual wallet, and ATMs already have the hardware necessary to accept and dispense cash.

Further, a bank ATM could provide an additional service of allowing users to transfer cash between their bank accounts and their virtual wallets which is something Bitcoin ATM machines cannot do.

If Adrian was going to supply banks with a software module that could be integrated into existing bank ATMs, he would have something viable. However, that is not what he is pitching.

If Adrian had stated that the ultimate goal was placing Bitcoin ATMs inside of convenience stores, like 7-11, or gas stations, or strip clubs, and any other place where independent (non-bank) ATMs are placed, then he might have something that is believable.

Instead, because he specifically stated that the goal is to place the Bitcoin ATMs next to bank ATMs, you know that either he is lying, or else he is too incompetent to understand what a viable business model is.

Further, except for ATM machines located in a bank's outer lobby, where are bank ATM machines located? The answer is that they are located outdoors, or in locations that are facing outdoors. Therefore, they must be weatherproof.

If you actually look at the ATM machine which Adrian plans to distribute, as shown on the Bitcoin Depot web site (https://www.bitcoindepot.com/blog), it is clearly a device intended to be kept indoors out of the weather. Further, it is a device that is not large, heavy or difficult to remove. That means that it must be placed in locations that are always monitored by a live person, like inside of a convenience store.

There is no possibility those Bitcoin ATM machines could be placed outside next to a bank ATM machine. They would be rendered inoperable as soon as they were rained, sleeted or snowed upon, and criminals would steal them within days of their placement to gain access to the cash inside.

Oh... but wait... there is more...

Because the Bitcoin ATMs use a consumables (ie: printer paper, ink, and cash), they have to be regularly serviced. Guess who will NOT service the Bitcoin ATM machines? The correct answer would be convenience store clerks who work in the buildings where Bitcoin ATM machines are placed. That means that Adrian must find someone who will service the Bitcoin ATM machines where they are placed at least a couple times every week. We know that it will not be Adrian running all over the country doing that.

So, what Adrian might really do is sell licenses to other people to service the Bitcoin ATM machines, and they would receive a cut for their work.

If that is the case, where does DNA provide any value to the equation? Anyone can already go directly to Bitcoin and host a Bitcoin ATM machine:

"Bitcoin Depot Referral Program
Bitcoin Depot is looking for new locations to host a Bitcoin ATM. We are interested in Gas Stations, Convenience Stores, Liquor Stores, Smoke Shops, Restaurants, and Bars. The location must either be open 24/7 or have long operating hours.

All you need to do is put us in contact with the business owner interested in hosting a Bitcoin ATM. If we end up placing a Bitcoin ATM at the location you referred, you will receive $300 in cash or bitcoin, your choice."

(Reference: https://www.bitcoindepot.com/referral)

That's right folks... what Adrian is going to do is try to get $300 for each machine that he can get placed inside of a suitable retail establishment... assuming that Adrian has any intention of following through with doing some actual work which we all know that he will not.


Adrian's press release states that, "DNA Brands Inc. (OTC PINK: DNAX) is pleased to announce that the company has closed a distribution agreement with Bitcoindepot.com." Just by contacting Bitcoin Depot and getting them to sign an agreement that says what their web site already says about their referral program available to everyone, Adrian got to stay legal when he wrote a press release that says that DNA now has a distribution agreement for Bitcoin ATM machines.

Adrian does not actually have to follow through on placing any Bitcoin ATM machines. He just needed to truthfully be able to say that he has a distribution agreement in case he wanted to place any Bitcoin ATM machines. There is no follow through required and he gets what he wants which is the ability to use the word "Bitcoin" in a press release.

That is a prime example of how Adrian works... so now, all of the Bitcoin blinded newbies to DNAX have a perfect example of what everyone who has been here for years have been trying to tell you.

It is all a scam once again. What a surprise!