Bitcoin ATM part 2 \ stacker news ~bitcoin

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284 sats \ 28 comments \ @Satosora 18 Nov bitcoin

The bitcoin atm. I did it again, because why not? Since the fiat price has risen a lot, I thought I would go back down to the local atm and get some more. My last post of the bitcoin atm, I bought at 91,903 USD. I didnt think it would rise so quickly, but now I am back to zero. So I thought I would do it again, this time I bought 100 USD worth of bitcoin at 127,000 USD. That comes out to 0.00076477 btc. Everyone, I know it is very expensive to buy it at this price. But I do have to say, it prints out a very easy to read receipt, which is nice. Now, how long do you think it will take before I break even?

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20 sats \ 1 reply \ @Undisciplined 18 Nov

I was thinking about your last purchase recently and meant to give you a shout out for being in the black.

I'm guessing it'll be four months before this purchase breaks even.

15 sats \ 0 replies \ @Satosora OP 18 Nov

I thought it would be a while longer before it cleared the red, but it did. So I had to try again, just for fun! Not that I am worried at all.

20 sats \ 0 replies \ @Rothbardian_fanatic 18 Nov

Wow! Did you really pay that much over the going rate as fees? I hate to say it, but you could have done better on one of the platforms!I I guess the ATM makers and servicers have to make their money, too. At least you got to buy the BTC. It seems that you may be having troubles buying it elsewhere.

20 sats \ 2 replies \ @DJGuy 18 Nov

Woah. You paid $100 USD for .00076477 BTC at $89,321/BTC? That's only worth $68.31 at that price. It says there was only a $3 fee. Where did the other $29 go?

11 sats \ 1 reply \ @Satosora OP 18 Nov

You have to read the reciept. Btc atms cost quite a bit to use. I bought at 127k per btc.

30 sats \ 0 replies \ @DJGuy 18 Nov

Oh, I missed that line. Just saw the market price. Wow that's one hell of a spread.

121 sats \ 7 replies \ @DarthCoin 18 Nov

Why you didn't blackout the most important thing from that ticket : your BTC address? Now anybody can trace you 😂😂v https://blockstream.info/address/14pvcFTUZsymVgfbkxJQVA556M2THKc4jC
Why in the hell you still use a legacy address?
Why did you put such small amount in that UTXO 76k sats and especially in a legacy address. In the future it will cost you a fortune to spend it. For such a small amount use LN until you get a decent amount and then move it to a holding UTXO.
Why are you buying at such high price? BTC price will always crash.

You better delete this image.

Damn it, I explained these steps in many guides. Why people ignore them?

0 sats \ 0 replies \ @denlillaapan 18 Nov

Darth on the hunt. GO get them!

0 sats \ 5 replies \ @Satosora OP 18 Nov

Darth, it is only 100 dollars of btc. Actually, it is only about 70 dollars. And the value it brings to the community is important. Using any kind of address, it doesnt matter, as long as you are holding btc. And to tell you the truth, chances are l will never spend this.

243 sats \ 3 replies \ @DarthCoin 18 Nov

Why would buy only with 100 cuckbucks and not go ALL IN? Damn it, you people still have fiat? What kind of chicken shit game is this buying 100k sats?

Using any kind of address, it doesnt matter, as long as you are holding btc.

chances are l will never spend this.

then why did you bought? Is totally useless if you do not use it as money.

0 sats \ 2 replies \ @Satosora OP 18 Nov

First, l only bought it so l could get the nice receipt. I dont think anyone sane would buy it at this price, even with the anonymity. I realize there are higher fees, but in the long run, does it really matter?

127 sats \ 1 reply \ @DarthCoin 18 Nov

even with the anonymity.

Are you crazy? Did you read what I just told you? The whole internet now saw your ticket number and the BTC address https://blockstream.info/address/14pvcFTUZsymVgfbkxJQVA556M2THKc4jC

man how many times I have to say: what are you doing in private is your own damn business, you don't want to post that private shit in public (internet, SN whatever online). This whole post is wrong.

0 sats \ 0 replies \ @j7hB75 19 Nov

The receipt also shows that this was done in CST (Central Time Zone). 👀

26 sats \ 0 replies \ @Rothbardian_fanatic 18 Nov

Are you implying that you made that purchase simply to demonstrate the crappiness of ATM purchases? Am I correct in assuming this? I think most of us, if not all, understand that the ATMs are nothing but a rip-off! @DarthCoin is right again about the purchase and your carelessness.

10 sats \ 3 replies \ @Msd0457890 18 Nov

I had heard about BTC ATMs but I didn't know they were so expensive, I know they must earn something but the price is crazy.

0 sats \ 2 replies \ @Satosora OP 18 Nov

The btc atms have to earn money somehow. Its just very expensive.

10 sats \ 1 reply \ @Msd0457890 18 Nov

What country are you in? I haven't seen the first one in South America.

0 sats \ 0 replies \ @Satosora OP 18 Nov

I am in the usa.

10 sats \ 2 replies \ @trieska 18 Nov

30% feee, thats crazy, I do not understand why you did it. sometimes I buy at BTCATM but fee is 6,3% and thats bit lot too. if you check robosats you can find sellers from 2 up 4%

0 sats \ 1 reply \ @Satosora OP 18 Nov

Its more than 30%.

10 sats \ 0 replies \ @trieska 18 Nov

yes, my mistake, but even more crazy

10 sats \ 2 replies \ @fm 18 Nov

WTF are you doing buying at 127?? Thats a fucking scam not a spread

0 sats \ 1 reply \ @Satosora OP 18 Nov

It is their spread, but I assume that this is the reason why btc atm havent taken off yet.

10 sats \ 0 replies \ @fm 18 Nov

I honestly thought a 10% like i saw previously was absurd.. but a 30 seams a robbery. You say this is a no KYC machine? Well, its good having no kyc, but a 30 is criminal. Good thing is, 100 cuckbucks to you is nothing.. cheers to that

11 sats \ 3 replies \ @zapsammy 18 Nov

i will never forget my first BTC ATM purchase in the ghetto-est of the town neighborhoods with only $20. i was so paranoid of even showing the $20 bill, lol.

0 sats \ 2 replies \ @Satosora OP 18 Nov

Haha How much did it end up coming out to be? At your atm, did they give you a paper wallet?

10 sats \ 1 reply \ @zapsammy 18 Nov

i don't remember the exchange rate, but it was probably 10-15% premium to market price, and i did not know much about purchases beyond one of the popular exchanges. the utxo went to an address on a mobile app wallet. paper wallet was an option.

the most satisfying sats purchase was in exchange for house-sitting with dogs & cats.

0 sats \ 0 replies \ @Satosora OP 18 Nov

Nice. Getting sats always feels awesome.