The money comes out in seconds
That is great if there is a line, but it breaks one of the first rules of cyrpto trading, "wait for at least six confirmations".
The first bitcoin transaction confirmation came thirty minutes after I had left the store. All of them were in by the time I got home.
"Buy your Bitcoin - Simple and Secure"
The first thing I learned: it is not anonymous.
Adrian, the owner of the Bitcoin Store, told me all I had to do was enter my tax ID number and confirm my email address... I said, "I am not that interested in trying it out."
So of course, he put in his number and I simply sent the bitcoins by scanning the QR code that popped up.
I selected $1,000 pesos, about $16 US, and hit the send button on my wallet. I immediately heard the motorized door open and out came two $500's
I said, "That's risky!" But he defended the security of his ATM, saying that the lightning network has it covered, securing transactions off-chain, etc. Again, I have not used bitcoin since the end of 2016 when it was taking days or weeks to get the first confirmation.
One entire bitcoin was selling for $378,788 pesos that day as you can see from the ticket below.
The translation of the above ticket:
Date: 2019 (it was July)
Transaction: # (redacted)
Cash dispensed: $1,000
Bitcoins sold: 0.00264
Exchange rate: $378,787.88 (per btc)
So I had sold 1/379th of a bitcoin as the price of one coin was over $378k. Today they are selling for $631,074.00 and tomorrow is anyone's guess. Maybe a million pesos!
The G-20 was held here...
And I remember the entire city being blocked off. A fence was build around all of Puerto Madero when officials from around the world came here. One of the main topics discussed was getting control over bitcoin, and I have heard about many extortion letters being sent out since then, targeting known criminal bitcoin innovators. Please! You would think we go around killing puppies or something.
When I was mining, hypothetically that is, governments were too busy laughing at us for spending hundreds of dollars per month to get $15 dollars worth of bitcoins. Back then it was "not currency", later it became an "asset". Now, I don't own it, so I am not sure. But they want taxes!
I own the silly, worthless, laughable coins that are fast and secure.
