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/biz/ - Business & Finance

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16627429 No.16627429 [Reply] [Original]

>> No.16627440

>>16627429
>redditposting on 4channel

>> No.16627457

>>16627440
I'm making fun of them.

>> No.16627469

>>16627429
Not only fees but check the fucking buy/sell gap

>> No.16627471

>>16627469
those are the fees dude

>> No.16627476

7% is standard for a cash purchase with no kyc.
At least in my country.

>> No.16627478

>>16627471
Not really, you lose money because of the spread + add fees on top of that. Probably comes around to 9-10%

>> No.16627490

>>16627478
The spread is exactly 7% so you're talking 14%?? Doesn't make sense.

>> No.16627551

>>16627490
The spread is the difference between the buy/sell price of bitcoin on the market. You are charged a comission when you sell to "pay" the service provider(atm). The spread "winner" is the guy who was on the other side of the trade.

>> No.16627569

Then spending BTC can range anywhere from >100% to <1% in transaction fees. You never know what you're going to get with futuristic money huehuehuehue

>> No.16627678

>>16627429
What is the oracle mechanism on these to determine current btc price?

>> No.16627780

>>16627678
FUCK CHAINLINK

>> No.16627805

>>16627678
Mobius

>> No.16627829

>>16627429
The spread is not even 7% its 8.16% which makes it even more absurd. This is why we need a fucking bear market. Those turks in betting places must be wiped out.

>> No.16627883

chainlink is a scam

>> No.16627912

>>16627780
Didn't buy under 50c eh?

>> No.16627988

The fact that there are ppl seeing the price, on an image board, knowing the price changes every second, and trying to debate the rates. Jfc dude.

7% is generally about as cheap as it gets at Bitcoin ATMs save for some super urban cutthroat competition spots. Yes the price is typically shown in the "spot" price on the machine.

t. Work for one of these companies

Dont like the prices dont go to an ATM. Its for the convenience and speed. Some ppl think its a "bad deal" but will pay $3.50 to pull out a 20 at a regular ATM? Alls i know is its a niche and ppl keep using the machines so clearly theres demand.

>> No.16627996

>>16627429
>no KYC
>EUR

OH NO NO NO NO NO

>> No.16628047

>>16627429
I pay way more than 7% to maintain anonymity here in Canada. We have those ATM's all over, but they are a monopoly and run by basically just 1 company. And then on top of their 10% spread, the store owner often adds up to $3 for their "store fee"

I willingly pay all of this, just because all other methods here are hyper cucked.

>> No.16628066

>>16628047
>maintain anonymity
If you're worth looking into using an ATM isn't going to stop much.

>> No.16628086

>>16628047
>machine scans your face
>anonymous
nice dude

>> No.16628134

>>16628066
I'm not though

>>16628086
At least there's no actual KYC, not even phone number if you don't want the receipt.. also could easily just send a buddy

>> No.16628158

>>16627429
Still better than it used to be four years ago when they were new. Will be interesting to see to what level the "ATM premium" settles when the ATM market is saturated and the market reaches equilibrium.

>> No.16628192

>>16627429

This is hyper cucked, but it's still better than a non bank ATM. Most gas station ATMs in my city have a flat $3 fee and the lowest amount you can withdraw is $20.

The difference is that you're a twice as much of a fucking moron if you're doing this with crypto compared to USD.

>> No.16628197

>>16628192
Why would you withdraw less than $20???

>> No.16628227

>>16628197

Poor people and people buying or selling drugs are the only ones who use ATMs. Why would anyone with a debit card pay $10%+ to get physical cash?

>> No.16628244

>>16628227
I prefer to use cash. Especially if I'm going out to a bar or something.

>> No.16628256

>>16628244

So do I, but I get it before go out instead of paying an ATM fee

>> No.16628444

>>16627478
There is no spread.
You think there is another guy hidden in the machine to take the other side of your order?
It doesnt work like an exchange, there is no order book.

>> No.16628535

>>16628444
exactly. they're not going to give you the same rate that you'll get on exchanges. that's called the spread.

>> No.16628551

>>16628227
Where the fuck are you paying 10% faggot?
Most atm withdrawals are free, and the flat rates are minimal if you withdraw more than $100.

>> No.16628554
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16628554

>>16628086
>your face
you mean Tim Pool's face?

>> No.16628561
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16628561

>>16627440
>identified self with website