“One day in November, a few weeks after launching the ATM, Demeter noticed something peculiar as he perused the machine’s transaction data at his office, across town from the coffee shop. At one point, the machine had voided 15 transactions in a row, for no obvious reason. So he drove down to the cafe, and as he walked through the front door, he immediately saw the problem. A man was sitting next to the machine, at one of the cafe’s wooden tables, and he was holding a sign that read: ‘Don’t Pay Transaction Fees.’ This very human entrepreneur, you see, was undercutting the world’s first bitcoin ATM, which was charging a 7 percent transaction fee.”
http://www.wired.com/wiredenterprise/2014/01/bitcoin_atm/
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
When “Diplomats” Aren’t Suborning Another Country’s Rulers, They’re Killing Its Citizens
U.S. Bill Seeks Steel Cents, Nickels, Dimes, and Quarters
As Feds Suggest ‘Guidance,’ Bitcoin Foundation Pushes Back
Israel Kirzner on Ethics and Entrepreneurship
Could Shapeshifting 'Material Support' Doctrine Take A Bite Out Of Apple?
Used Car Prices During the Great Recession
France's Socialists Generate A New Class Of Tax Exiles
Majority of US college campuses becoming ‘no-free-speech’ zones
Poll: Who Hates Capitalism?
Republicans: Abandon Benghazi, and Talk about Hillary’s Other Foibles
Judge upholds Liberty Dollar founder's conviction, schedules sentencing
Media reports US stealth bombers in Guam preparing for nuclear strike
Montana Attorney General blames reporters for online threats against them
The Next Big Thing in Cardiology
Latest chapter for Google self-driving car: mastering city street driving