Today many owners of BTMs (Bitcoin Teller Machines) are wishing they had picked a manufacturer other than Robocoin. The Las Vegas-based BTM company is now attempting to control the operation of machines that have already been sold, against the wishes of some (and possibly many) of the machines’ owners. And the proprietary 2.0 software Robocoin is attempting to push would jeopardize the security of customers using the BTMs. Yes, the simple notion of contract—that is, a voluntary agreement between parties—allows for any kind of business arrangement, including one in which a seller can dictate to a buyer how property can …

A Vancouver-based company has bought five Bitcoin ATMs and plans to have them up and running around Canada by December. Bitcoiniacs, which operates a physical Bitcoin exchange in Vancouver, purchased the RoboCoin machines for $18,500 each and has the first already running in Vancouver, at Waves coffee shop on Howe Street. Four more are scheduled for Montreal, Ottawa, Toronto and Calgary. Bitcoiniacs founder Michell Demeter is a serial entrepreneur who has run sign shops and a moving company. He first began toying with Bitcoin exchanges on LocalBitcoins.com. Dememter is eyeing a commission of about 3% from the machines after his …