Purchase a cash-in / cash-out ATM machine that allows users to deposit or withdrawal USD or MXN cash and exchange digital currencies.
Machine will be installed in the downtown area of Cabo San Lucas near Squid Roe.
- Anyone who contributes $1000 USD will be remunerated over time from received transaction fees. Remuneration will be paid to BTC, ETH or NXT account only. Will setup smart contract for automatic and periodic disbursements of remunerated funds. Ideally, 15 people invest $1k each, and transaction fee income is split 16 ways (myself included).
- Anyone who donates -any amount- will receive free usage of said cash-in / cash-out machine up to the amount they donated here. Example; If you are in the US, CA, or mainland MX, and you need to send up to $5k USD (or MXN equivalent) to someone in Cabo San Lucas, your transaction fee will be waived. Likewise, if you need to deposit/buy up to $5k USD (or MXN equivalent) in BTC, your transaction fee will be waived.
The machine will cash-out far more then it will cash-in, perhaps a 1000 to 1 ratio, as persons from north of the border need to -more frequently- send cash south of the border. In other words, local users buying Bitcoin (with cash) will represent $1 to every foreign user selling Bitcoin (for cash) which will represent $1000.
The cashing-in supports all currencies, and cashing-out supports USD or MXN currencies.
In addition to a per transaction fee, the machine also earns income based on the buy/sell spread and conversion factors. For example, if BTC is averaging $4500, and then suddenly drops to $4000, we might buy BTC reserves at that amount. When the price has jumped back up to $4500, our reserves (at $4000)
are then sold at $4500, so a net gain of $500 is realized, over and above the transaction fee.
I suspect it will only take a few months to remunerate the investors of the $15k investment. At that time (or before), I'd like to get another machine for San Jose del Cabo, then Todos Santos, Cerritos, Los Bariles, Cabo Pulmo, Mirafloras, and then several more for the CSL and SJD areas. Users in CSL would be able to instantly send cash to users in Todos Santos, for example.