More than 3,600 Bitcoin ATMs went offline to record largest monthly decline :( \ stacker news ~bitcoin

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More than 3,600 Bitcoin ATMs went offline to record largest monthly decline :(cointelegraph.com/news/more-than-3600-bitcoin-atms-went-offline-to-record-largest-monthly-decline

224 sats \ 4 comments \ @shadowymartian 1 Apr 2023 bitcoin

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0 sats \ 3 replies \ @WeAreAllSatoshi 1 Apr 2023

I can’t say I’m surprised. The premium you pay is insane, and it feels like a scam, because they warn you about being scammed. I understand a premium for anonymity, but jeez

0 sats \ 2 replies \ @richnost 2 Apr 2023

Very few of them are even anonymous. I have no idea why the premiums at these machines are so eggregious. Assuming they bear the regular maintenance cost of a vending machine, one might expect a reasonable 3-5%, but most of the ones I have seen gouge you for a 10-13% premium above spot.

5 sats \ 1 reply \ @TNStacker 2 Apr 2023

I tried a local one for the hell of it and for the just-in-case practice. It KYC'd me and charged one helluva premium. Without anonymity at an atm, one might as well deposit paper money to CashApp and buy the BTC there.

I hear there are non-kyc atms...

0 sats \ 0 replies \ @richnost 2 Apr 2023

There are, and the only one that I ever found was CoinFlip, which still required a phone number and KYC above like $900.