http://theconversation.com/in-conversation-with-bitcoin-expert-and-nyu-professor-david-yermack-31048Professor Yermack, who once researched the economic impact of the fashion decisions of US First Lady Michelle Obama, has recently turned his hand to detailing some of the bizarre and humorous characteristics of Bitcoin. Like the Bitcoin ATM installed in Melbourne which offered to sell 1 Bitcoin for A$585 and buy 1 Bitcoin for A$523. Not only was the spread 10.5% but the current market rate for Bitcoin was $511 and so essentially the ATM company would be losing money on its transactions.