Hi, I don't think I'm understanding you correctly. How is the operator protected against volatility exactly?
Walk me through this if I was initially setting up the unit. Would I purchase Bitcoins from an exchange and then transfer them to my ATM operating wallet? What happens after that? If a user makes a purchase does the machine automatically top up the wallet? Thanks.
The operator is not protected against volatility. All they can do is set a minimum price so that it does not sell below what you paid for the bitcoin.
For example I bought $1000 and put it on my skyhook atm and then bitcoin has fallen over $100. My bitcoin is overpriced and I have sold nothing. I mistook the term "pull request" to mean that it could be hooked up to buy bitcoin in real time when someone uses the atm. Wrong!
That makes sense but you also have to look at the other side of the fence. If you bought at $600 and now sell at $500 you can take that USD can purchase more BTC for your ATM at a lower price. Tieing the ATM directly to an exchange would make this process happen in realtime, but it can be done manually as well.