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Author Topic: Visited my first Bitcoin ATM in Chicago today  (Read 3927 times)
solomon
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September 23, 2014, 10:37:38 PM
 #61

I don't think it's ideal that to someone unfamiliar with how BTC works, looking at the display it looks as though the minimum spend is ~$480. A little display underneath with $1 = 2085 uBTC/bits would be good, just to clarify that you can put 20 bucks in if you want

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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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zorke
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September 23, 2014, 11:44:11 PM
 #62

I don't think it's ideal that to someone unfamiliar with how BTC works, looking at the display it looks as though the minimum spend is ~$480. A little display underneath with $1 = 2085 uBTC/bits would be good, just to clarify that you can put 20 bucks in if you want
I think it is clear to me that the display is saying what the price of 1 bitcoin is, and not the minimum purchase amount. I would think it should be obvious to the public that you can have/buy smaller amounts of bitcoin then 1 BTC just like you have have small amounts of "dollars" just like pennies, nickels and dimes (ect.) allow.

I also know that many bitcoin ATMs do a lot of volume so I would speculate that average transaction size is a lot more then $20
redhawk979
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September 24, 2014, 12:34:39 AM
 #63

I know I sure love waiting 10 minutes to withdraw cash from a regular ATM.
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