Friday, October 22, 2021

Bitcoin vending machines at Walmart

 Bitcoin is here to stay, folks.

US retail giant Walmart, the world’s largest company by revenue, has launched a program to allow customers to buy bitcoin at 200 of its stores via Coinstar ATMs.

Coinstar, in partnership with Coinme, has launched a pilot that allows its customers to use cash to purchase bitcoin. There are 200 Coinstar kiosks located inside Walmart stores across the United States that are part of this pilot,” Walmart communications director Molly Blakeman told CoinDesk on Friday.


Read full story here.

12 comments:

Unknown said...

Where's the tulips!

Matt Franko said...

The Fed has competitors…

Matt Franko said...

And WalMart HATES the credit card companies…. I think Walmart is working on their own stable coin..

Peter Pan said...

Yet another way for fools to lose what little savings they have.

Greg said...

What a scam! There is no way these are legitimate Bitcoin transactions. The whole point of Bitcoin is to leave a trail that tracks the ownership of every Bitcoin ever produced. It’s this block chain that insures against fraud. The supply of Bitcoin is controlled and the work needed to be part of the blockchain is verified . This takes time and energy. Bitcoin can only process about 10 transactions per second within it’s blockchain just one of many reasons it is no real threat to Visa, MC, or even PayPal at this time.

Ahmed Fares said...

Greg,

If I may add to your comment, this is known as the Bitcoin scalability problem.

Footsoldier said...

Did Bitcoin Kill Gold’s Monetary Utility?


https://www.pragcap.com/did-bitcoin-kill-golds-monetary-utility/

Greg said...

I’m guessing this whole process with Bitcoin is somewhat similar to how I understand stock mutual funds work. Mike or someone else might be able to correct me but when I invest in a stock mutual fund I don’t really own any stock at all, what I own is a claim to any gains or losses in the portfolio chosen by the manager. There are layers and layers of protection that insure that each mutual fund owner will get his share and that the manager is in fact trading the stocks he says he is. This Bitcoin machine Iis selling you potions of a Bitcoin, not many people would buy a whole Bitcoin from a machine, it’s now thousands of dollars so how is your portion of whatever Bitcoin you purchase documented or tracked? Who is guaranteeing this transaction? How do you see your transaction on the blockchain….. right there in the Walmart? Who are you purchasing from? I don’t see how any of this vital information could possibly be available within seconds from some vending machine in Walmart.

Would anyone here buy a Bitcoin this way?

Matt Franko said...

You might have to already have a digital wallet to use it… or they will establish one for you as part of the process…

Matt Franko said...

https://www.coinstar.com/bitcoin

They are partnered with the Coinme digital wallet…

El Salvador has gone Bitcoin … so all the illegal aliens go to Walmart …. now they can use this to send munnie back to El Salvador and bypass the usury fees that the us banks charge to transfer munnie for the illegal aliens back to the turd world…

El Salvador govt has established their own digital wallet … but you can probably transfer from Coinme wallet to the El Salvador wallet for pennies…

Matt Franko said...

https://www.forbes.com/sites/theapothecary/2021/10/07/in-el-salvador-more-people-have-bitcoin-wallets-than-traditional-bank-accounts/?sh=144c23b720b5

People tired of getting ripped off by the FRS….

This is probably why Dems want to get IRS visibility down to $600 transactions…. People getting paid under the table or 1099 and going into Bitcoin to avoid taxes..,

Matt Franko said...

US Treasury can probably see volume of Bitcoin transactions and project % US tax liability from that transaction volume and then are not seeing it in tax receipts….

Illegals get about $15 per hour 40 hours a week that’s $600… so Dems want to see down to $600…

This is probably how they think they are going to “pay for!” their 3.5T climate nutter thing…. ie figure out how to tax the illegals…