New PatentHolder Wants $18M…A Month (!!!)…From US Bitcoin ATM Operators
I wonder what Satoshi would say about this…?
New patent-holder wants $18M a month from US Bitcoin ATM operators
“With the more than 9,400 Bitcoin ATMs installed across the United States estimated to be processing between 130 and 180 transactions monthly, Bots believes its patent can drive $14 million to $18 million dollars in monthly royalties. It is not known if this figure is an ambit claim to open up negotiations or whether the technology is as crucial as the company claims.
Bots acquired the rights to the U.S. Patent No. 9,135,787 ‘Bitcoin Kiosk / ATM Device and System Integrating Enrollment Protocol and Method of Using the Same on Oct. 29 through its subsidiary First Bitcoin Capital LLC. The patent was originally filed in 2014.
Bots hopes to r’each an amicable arrangement without litigation ‘with U.S.-based ATM operators, noting that it will be o’ffering those operators to join a consortium of Bitcoin ATMs.”