was at the usual hangout with the guys last night. the topic of bitcoin was brought up. i'm absolutely a novice about that topic and i posed the question of how does one cashout. one guy goes to me and says, "come here and follow me." he leads me to the store next door and inside we go. he shows me a bitcoin atm machine. learn something new everyday.
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The real question is … what are the transaction fees?
For example, if I start with $100 in cash. Then I deposit the $100, converting to bitcoin, and then withdraw cash, how much is left after transaction fees? I’ve only tried this a few times, but the fees left me with 80% to 90% of the starting amount.
When you calculate the bitcoin price fluctuations, you might not increase your money.
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