Ibian
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Activity: 2268
Merit: 1278
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January 19, 2019, 03:09:04 PM |
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I have read the articles about the new Coinstar ATMs that are gonna spread in US grocery stores but I guess I didn't get that part : https://www.ccn.com/how-coinstar-could-turn-62-million-dollars-worth-of-literal-trash-into-bitcoin/"But people might be a lot more careful with their pocket change if there was some way it could be more valuable. Soon one way to make it more valuable will be to toss it into a Coinstar machine and convert it from the dust of a depreciating public currency into bitcoin, an appreciating, private, free market currency with a definite and fixed supply." So if I get this right, we'll be able to change cents into BTC dust ? Oh my. OH MY! |
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El duderino_
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Activity: 2632
Merit: 12845
BTC + Crossfit, living life.
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January 19, 2019, 03:16:16 PM |
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Schiphol. Above the bus/taxi stands. yeah the moment when you leave the arrival section to go to the car parkings...... |
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kenzawak
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January 19, 2019, 03:16:54 PM |
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Oh my. OH MY!
Sarcasm I suppose ? I'm not from the US but I go there often. Just had never heard of Coinstar and that "cash for coins" thing before. |
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Wekkel
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yes
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January 19, 2019, 03:18:45 PM |
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Schiphol. Above the bus/taxi stands. yeah the moment when you leave the arrival section to go to the car parkings...... Technically, that's municipality Haarlemmermeer and not Amsterdam. But as a tourist, I forgive you  |
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Ibian
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January 19, 2019, 03:23:58 PM Merited by BinaryReign (2) |
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Oh my. OH MY!
Sarcasm I suppose ? I'm not from the US but I go there often. Just had never heard of Coinstar and that "cash for coins" thing before. No, listen. A few worthless coins in your pocket is nothing. A few worthless coins in the pockets of hundreds of millions of people is a fucking fortune. And why wouldn't you throw loose change into a machine that makes the number on your iphone grow? It gives a nice dopaminurgic (now a word, Spellchecker!) kick, once you do it the first time you will keep doing it. And when hundreds of millions of people are doing it habitually, guess who benefits the most? |
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El duderino_
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Activity: 2632
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BTC + Crossfit, living life.
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January 19, 2019, 03:24:06 PM |
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Schiphol. Above the bus/taxi stands. yeah the moment when you leave the arrival section to go to the car parkings...... Technically, that's municipality Haarlemmermeer and not Amsterdam. But as a tourist, I forgive you more important: Mic learned a new word  aaaah but didn't know that, and be their manny times before as well as @ amsterdam I could almost be called a resident or not that much maybe.... but been there often |
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xhomerx10
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January 19, 2019, 03:24:51 PM
Last edit: January 19, 2019, 03:39:32 PM by xhomerx10 Merited by BinaryReign (2), kenzawak (1) |
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I have read the articles about the new Coinstar ATMs that are gonna spread in US grocery stores but I guess I didn't get that part : https://www.ccn.com/how-coinstar-could-turn-62-million-dollars-worth-of-literal-trash-into-bitcoin/But people might be a lot more careful with their pocket change if there was some way it could be more valuable. Soon one way to make it more valuable will be to toss it into a Coinstar machine and convert it from the dust of a depreciating public currency into bitcoin, an appreciating, private, free market currency with a definite and fixed supply. So if I got this right, we'll be able to change cents into BTC dust ? No, you misunderstood. The phrase "from the dust of a depreciating public currency" is referring to the pocket change. Pocket change is the "dust" of a depreciating public currency i.e. US dollars. We will convert that dust into Bitcoin ( an appreciating, private, free market currency with a definite and fixed supply)! It's probably not a good idea to convert your pocket change into Bitcoin dust since the transfer fees would be more than the amount however if you have something like this - brb Edit: apologies. This is actually my daughter's bag of change (wrangled from her mother and I originally) so I had to answer 20 questions before I was allowed to borrow it!  There is probably over $50 in this bag. As the denominations get smaller it becomes more of a pain to roll them and exchange them for bills. The Coinstar machine is great for that though the fee is upwards of 10%. Can't wait for the Bitcoin though! I have TUBS of pennies to exchange  |
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Globb0
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Free spirit
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January 19, 2019, 03:32:28 PM |
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Who will hold the btc? will they just collect the cash and tell users a "balance"? as per the dust comment above
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kenzawak
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January 19, 2019, 03:42:55 PM |
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It's probably not a good idea to convert your pocket change into Bitcoin dust since the transfer fees would be more than the amount however if you have something like this - brb Edit: apologies. This is actually my daughter's bag of change (wrangled from her mother and I originally) so I had to answer 20 questions before I was allowed to borrow it! There is probably over $50 in this bag. As the denominations get smaller it becomes more of a pain to roll them and exchange them for bills. The Coinstar machine is great for that though the fee is upwards of 10%. Can't wait for the Bitcoin though! I have TUBS of pennies to exchange 10 % ? F...! Couldn't this work like a faucet where you can only move your BTC once you have a minimum amount ? |
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El duderino_
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Activity: 2632
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BTC + Crossfit, living life.
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January 19, 2019, 03:45:19 PM |
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xhomerx10
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January 19, 2019, 03:50:24 PM |
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It's probably not a good idea to convert your pocket change into Bitcoin dust since the transfer fees would be more than the amount however if you have something like this - brb Edit: apologies. This is actually my daughter's bag of change (wrangled from her mother and I originally) so I had to answer 20 questions before I was allowed to borrow it! There is probably over $50 in this bag. As the denominations get smaller it becomes more of a pain to roll them and exchange them for bills. The Coinstar machine is great for that though the fee is upwards of 10%. Can't wait for the Bitcoin though! I have TUBS of pennies to exchange 10 % ? F...! Couldn't this work like a faucet where you can only move your BTC once you have a minimum amount ? Right now, the only option here is to get a receipt for the money owed and take it to a cashier at the same establishment but the two are separate companies so they have to pay to have the machine there and for the exchange as well. There are machines in the USA that allow you to transfer the balance of your coins onto a gift card of your choosing without added fees. Maybe it will be something similar for Bitcoin? |
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ssmc2
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January 19, 2019, 03:56:55 PM |
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https://www.coindesk.com/coinstar-partnership-aims-at-expanding-bitcoin-purchases-in-grocery-stores-Though Coinstar kiosks are primarily known for converting coins into cash, Amazon gift cards or other equivalent balances, Thursday’s press release noted that at present, “coins cannot be used for bitcoin transactions.”
The kiosks will only accept U.S. dollar-Booo that's lame. Me and a buddy thought this would be a great idea a few years ago when I first got into BTC. Seems like they're missing out not allowing change to coin transactions. 
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Globb0
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Free spirit
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January 19, 2019, 03:57:25 PM |
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Schiphol. Above the bus/taxi stands. yeah the moment when you leave the arrival section to go to the car parkings...... Technically, that's municipality Haarlemmermeer and not Amsterdam. But as a tourist, I forgive you I used to take my gf to Haarlem   |
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Ibian
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January 19, 2019, 03:58:42 PM |
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It's almost like roach is not completely insane. Just kind of a dick. |
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Ibian
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January 19, 2019, 03:59:44 PM |
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gentlemand
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Welt Am Draht
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January 19, 2019, 04:03:17 PM |
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Looks like you have to turn coins into paper with the machine, then return from the counter with your paper and feed it in. Why? More fees just maybe? |
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Cryptoqueeen
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January 19, 2019, 04:03:23 PM |
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MisogynistR0ach, afraid to talk to women directly?  |
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El duderino_
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Activity: 2632
Merit: 12845
BTC + Crossfit, living life.
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January 19, 2019, 04:03:30 PM |
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Schiphol. Above the bus/taxi stands. yeah the moment when you leave the arrival section to go to the car parkings...... Technically, that's municipality Haarlemmermeer and not Amsterdam. But as a tourist, I forgive you I used to take my gf to Haarlem couldn't say were you are from....? remember when I visited liverpool, you said if I would of come more south we could have a drink ....... ?? and know you talk about haarlem..... as far I know your a fellow European with good manners edit: saw the typical weather on your pic, didn't been @Harlem myself.... |
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Ibian
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Activity: 2268
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January 19, 2019, 04:23:13 PM |
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Looks like you have to turn coins into paper with the machine, then return from the counter with your paper and feed it in. Why? More fees just maybe? Yeah I get that, but are coins not usually counted as cash? To my understanding, admittedly limited european understanding, there are coins and bills both of which fall under cash? Is something else going on here? |
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