So when will there be Lightning network ATM’s…. The BTC ATM fees are dumb ass fuck well IMHO
Discussion
The one time I used a bitcoin ATM it gave me bitcoin for $5000 higher than market price. Never again.
Completely BS the goal here is to bring people away from that kind of BS
They aren’t doing crazy up charges because of the network fees. The layer they give you BTC on is irrelevant. There will always be a massive up charge because of the compliance requirements.
Wow what a shame of course there would be compliance requirements…
It’s a brutal business. As most overly regulated businesses tend to be.
You also have to factor in the reality of maintaining bitcoin ATMs has real world cost that will always be added into what they charge you.
Even if you assume no regulatory burden it would still be more costly to get btc from a bitcoin ATM than other methods
Definitely a high CapEx business, but so are regular ATM companies. The lack of adoption of BTC so far, and therefore lack of machine use, compliance costs, and the ability to get BTC online make it very difficult to be successful without exorbitant fees.