Post
Topic
Board Bitcoin Discussion
Re: How about a bitcoin coinstar?
by
franky1
on 23/01/2019, 15:29:14 UTC
How is converting coins into bills something that requires a fee?

coinstar is a machine that traditionally converted junk pocket change into a voucher that could be spend in the store.
the reason junk change 'cost' money is because
1. the retailer rents the device so needs to charge a fee for the service
2. the retailer needs to empty the machine regularly. costing labour.

this is why using the traditional junk change to buy bitcoin is not available as the junk change is a service between the customer and retailer.
the bank note-btc is a service between coinstar-customer. not retailer-customer so although its the same device. the service is via a different company contractually(prevents retailer needing a MSB licence)