Poll
Question: Closing BTC Price June 28:
$0 - 5 (2.6%)
<$7,000 - 4 (2.1%)
$7,000-$7,499 - 0 (0%)
$7,500-$7,999 - 0 (0%)
$8,000-$8,499 - 1 (0.5%)
$8,500-$8,999 - 3 (1.6%)
$9,000-$9,499 - 4 (2.1%)
$9,500-$9,999 - 27 (14.2%)
$10,000-$10,499 - 26 (13.7%)
$10,500-10,999 - 15 (7.9%)
$11,000-$11,499 - 14 (7.4%)
$11,500-$12,000 - 17 (8.9%)
>$12,000 - 59 (31.1%)
>$20,000 - 15 (7.9%)
Total Voters: 190

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21253948 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (68 posts by 16 users deleted.)
justusranvier
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July 30, 2014, 04:01:43 AM

it's an interesting idea, but seems this ATM would end up buying high and selling low.
someone loads the ATM with 10BTC the ATM gives him 6,000$ cash, then that ATM is considered overload in BTC so it offers to sell the same 10BTC for 5,500$   Huh
you'd have to charge one hell of a fee to make buying high selling low profitable.
There's no such thing as "overloaded in BTC" - bitcoins don't take up space. Giving up cash would either cause the machine to increase the price more slowly, or reverse and start lowering.

You'd need to maintain a spread between the buy and sell prices, and probably also limit the amount of a sale such that you'd never get the situation where the customer could arbitrage the machine itself.