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Author Topic: btc atm now in LA- North Hollywood  (Read 1349 times)
RGBKey
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August 26, 2015, 11:37:29 PM
 #21

It's always good news to see more of these popping up, it gives us new people. They're a great way to get people interested and involved.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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August 27, 2015, 12:35:39 AM
 #22

Do you know what the mark up? Spot + 5%?


They have to make their money some how. It's reasonable in some ways. Obtaining bitcoin second hand online can be a pain in the ass if you don't use an exchange. Second hand sellers charge up to an easy 10%-15% to new buyers unaware on how to obtain the currency at a better price through other outlets. The ease of going to a Bitcoin ATM and paying direct cash for BTC would probably cover up the increase.
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August 27, 2015, 06:28:50 AM
 #23

wow..that's cool maybe someday bitcoin atm will come too my country too..I am eagerly waiting for it..and I hope it will help many poeople to understand the bitcoin system in our country
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September 06, 2015, 11:33:04 AM
 #24

Ouch, 8% buy is pretty rough! I suppose they need to make up for low volume with higher fees, but 8% premiums is not much of an argument against CC fees when that is supposedly one of Bitcoins strengths.

8% might seem high, but average fee in the industry is 6%, so not much higher than average.
Companies need to follow KYC/AML, invest in machine and location, maintain it all the time and in the end of the day they are created to receive profits.

Comparing to CC fees is like comparing oranges and apples.
Bitcoin ATM is a door to bitcoin space, when you are inside you can send funds for cents irrespective of volumes (here comparison to CC makes sense).
Due to the current state of development (we are still in infancy stage) - entering bitcoin space is a bit costly event. I assume market increase and competition will bring this price down.

Looking for BITCOIN ATM close to you? Check Bitcoin ATM Map from CoinATMRadar.
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