I buy £100 Bitcoin every pay day (every 2 weeks) everytime I buy it it plummets just like today went down £1000 after I bought this morning😂 overall I’m not missing out on much Bitcoin I got 0.005 from £100 when I could have got 0.0053 if I bought now instead of earlier so not a huge loss really
As the title states, if a business owner accepts bitcoin payments for the sale of $100 good/service and the price of bitcoin then drops 10%...the business owner technically lost %10 of their sale correct?
Why accept bitcoin as payment if the overall price goes down? Unless they plan to hodl..
My father in law got scammed out of $6k, by being told to go to a bitcoin atm and put in the cash. He never selected a receive wallet, or was given access or asked for a QR code at any point. When being scammed there is supposed to be a step where you stupidly give the keys, seed phrase, etc, away, but I can’t find that point of failure here. The money is gone, I just want to learn what happened and inform others.
He scanned his Drivers license, put in the money, and got a receipt that shows the public address, and no private keys of any sort. I go to import this public address as a watch only wallet (of course empty now) to see the transaction history, my FIL’s BTC and one other victim’s input, and one output to an external address, moving the stolen money.
My question is, how can a Bitcoin ATM let someone buy without specifying a receiving address, or allow buying into an address that someone already controls. I assume it must be an inside job, and the owner of the machine has access to the temporary wallets it must create upon purchase. Could someone set up the machine to receive, then walk away as your victim is on the phone coming around the corner and then finish the session with my FIL inserting all that cash and getting a useless receipt. Is that feasible?
Currently I am purchasing small amounts of BTC (.0005) everyday on Coinbase.
My free trial is coming to an end in a few days for Coinbase One, so I will incur a $30 monthly cost in order to avoid fees on these purchases. At current prices that is about 11.77% of my monthly investment. That seems too high.
I could up my investment to bring that percentage down, but my monthly investment total is comfortable and I like to forget about it.
There has to be a better option out there. This investment is intended to be long and not ideal to have that type of position on Coinbase anyway.
Any thoughts?
