Analysis of a Bitcoin Transaction at Albuquerque NM Mall

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Had time to check out Albuquerque NM USA for around 4 hours due to getting bumped at their airport. Ended up at mall named Cottonwood equipped with bitcoin ATMs.

Outfit out of Seattle, Washington called coinme.com printed the following $1 receipt purchased at one of their many ATMs. We knew not to risk too much for this receipt valued at 0.0000603 BTC.  Yup one dollar was worth SIX ONE HUNDRED THOUSANDTHS of a bitcoin. This particular Duke city ATM displayed that a single Bitcoin was worth around 16,584 USD, WHILE the most reliable measure of BTC value, the GLOBAL BITCOIN PRICE INDEX (GBX)  listed the price at circa $15,000.

The takeaway here is that sites like the group at address 500 Yale Avenue N, First Floor are much like the poker tables in Las Vegas. They just want you to transact like crazy with their Automated Teller Machine.  See those smart dudes know that One divided by $15,000 is a bigger number than One divided by $16,584

One other thing, we put our hard earned One Dollar in the ATM around 3 days ago and is still has not been recorded as a valid transaction at coinme.com. So our analysis indicates BTC’s enormously high valuation has to be as a a store of value for rich entities that do NOT trust the fiduciary acumen of the governments who print fiat currency by centrally controlled agencies.  Coinme website said transaction would be posted on their website in 12 hours or fewer. They, of course, bail out by saying that blockchain is overwhelmed with multiple transactions per second which is true. BUT  coinme still has the single greenback I gave them on that lazy Monday in the land of enchantment. Oh well, at least we have their address.

BTW, were there ever any references to Bitcoin in Breaking Bad?

AlbuquerqueBitcoinATMReceipt

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10 comments on “Analysis of a Bitcoin Transaction at Albuquerque NM MallAdd yours →

  1. Glad you posted the issues you are having with coinme.com ATM in Cottonwood Mall. We made the mistake of putting in 20 dollars and got a receipt for 0.0013 BTC. We knew there would be a delay, but that was over 8 days ago!

    Coinme in seattle would not answer phone or respond to email. I hope enough people will reply to this email to consider some legal action. Coinme knows most of the small USD transaction folks will NOT go to trouble to file a lawsuit AND as you mentioned they still have your hard earned physical currency in their possession!!

    1. Matt Weinberger put one USD in a coin cloud Las Vegas ATM. He characterizes the experience as a gamble because he does not understand how BTC wallets work. The business insider writer stated he lost the single dollar, but will eventually find his 0.000705 BTC in his coin cloud wallet if he cares to practice some journalistic integrity.

      Right now the network is being overwhelmed by poor countries like Venezuela citizens trying to save their hard earned money from triple digit inflation. One dollar transactions are LOW priority but will eventually be processed.

      Also John Crudele wrote about the bodega bitcoin atm machine issuee in NYC. Egghead Mark Williams, a finance professor at Boston University, HATES bitcoin and the other digital currencies. His opinion does not count since he teaches theory rather than dealing with it directly in REAL WORLD.

      The way to get some hassle free investment exposure to bitcoin is through the publicly traded GBTC Trust. GBTC will split January 28, 91 to 1 meaning the share price will drop from around $1900 to $20 per share,BUT you have to be a shareholder of record on on JANUARY 22.

      The ignorance of KEVIN DRUM is on display at Mother Jones where Drum states “I’ve wondered aloud several times about how many bitcoin trades involve real money” Oh, so Kevin was that guy we were all concerned about at starbucks seated by himself muttering under his breath while reading WSJ.

      Kevin puts all his faith on chart produced by Jeremy Grantham comparing BTC to the Dutch Tulip hysteria. BTW, Kevin, BTC is in the top 15 of ALL world currencies which qualifies it as real money!

      You could make the same argument about my fingernail clippings: they may have no intrinsic value, but they’re in limited supply so let’s use them as the new world currency

      The bolded out statement is the specious musing of Peter Adeney who does not understand the difference between bitcoin and his bugger infested fingernail clippings. Just cuz Mr Money Mustache retired very early at 30 by tenaciously saving 80% of his and his wife’s savings over the years, does not make his opinion of bitcoin sacrosanct. His definition of Investing, as buying an asset that actually creates products, services or cashflow, such as a profitable business or a rentable piece of real estate, for an extended period of time, is how he understands investing, BUT SHOULD NOT EXCLUDE OTHER MORE SPECULATIVE INVESTEMENT CLASSES.

      Not everbody has to choose your your excruciatingly astere lifestyle Peter. People like your writing style, but you need to read up on currency trading, commodity trading, and security trading cuz BTC IS ALL THREE!

      1. Self proclaimed BTC guru Tom Goldenberg spoke of the failings of Das kapital by Marx as though Tom Goldenberg is the genius improving and updating the great work.

        Marx knew any form of currency could be fraud prone or corrupted by those in power. Tom Goldenberg Erroneously assumes that because Marx did NOT mention those negative aspects of any currency, he was not aware of the possibility.

        Also, Forbes writer Roger Aitken went for the catch headline “A busted flush” rather than acknowledging that bitcoin is an adaptable and resilient force that keeps spiking despite the regulatory threats of South Korea, China, and to some weaker extent the US. Joseph Young has documented at least three instances of BTC elevating in light of increased worldwide regulation!

        Neil Wilson, a London broker, was equally clueless regarding the viability of world’s leading digital currency, commodity, and security! Dutchman Dennis de Jong also spoke as if it was a foregone conclusion that Bitcoin won’t make it. Germany’s Joachim Wuermeling is the only higher up who seems to get that national regulation of bitcoin has ONLY LIMITED EFFECTIVENESS proving the bitcoin is NOW A FORCE OF THE FINANCIAL UNIVERSE!

        Jeff Spross is the latest moron to to state bitcoin will go in the toilet due to government regulations. The economics and business correspondent at TheWeek.com has bounced around several jobs being paid to support the uninformed opinions of his flybynight current employer

        1. Finance Minister Arun Jaitley Paid male and female prostitutes with bitcoin AND then tried to bury it by banning it! He did a good job of hiding his infidelity and perversion on Internet by paying some big time media producers with BTC.

          1. RIOT blockchain CEO John O’Rourke will probably spend a minimum of 5 years in federal penitentiary for fabricating shareholder meetings and dumping one million in RIOT stock. We met him once at hot springs in Glenwood Colorado. Arrogant slob will not be happy in jail where he belongs.

            1. Chuck Jones writing for Forbes is full of BS. He writes “I’ve arbitrarily picked $100,000 for the price of ONE Bitcoin by mid 2018, as I’ve also heard that it could go to $1 million, but I suspect that is to get media attention.

              Chuckie himself is trying to attract attention to his employer Forbes with his technically ridiculous claim of 100 thousand USD!!! Oh Chuck, I did not click on any of the google ads in your Forbes article.

    2. My son bought around $500 worth of bitcoin at the same Albquerque Mall in New Mexico. It took him the whole summer to earn the money from lawn mowing and lemonaid stands. We wrote the coinme place at the address 500 Yale Avenue N, First Floor. NO RESPONSE!

      We called some friends in the area and they said that location at the address 500 Yale Avenue North, First Floor in Seattle Washington has had to beef up their security big time because their ATMs are taking GREEN CASH from honest Americans and blaming it on the bitcoin block chain ledger being backed up.

      That is still stealing. We are in the process of determining the home addresses of the coinme owners and picketing outside their homes until they make this RIGHT!!

      1. We also got RIPPED OFF by the Coinme bitcoin ATM in Cottonwood Mall. We stupidly put in $100 and all they could say was that it was the blockchain’s fault that the bitcoins did not make it our wallet! The damn ATM took our picture and recorded our NM DL number. The punks have our $100 in cold cash and WILL NOT REFUND. They are going to have to amp up their security in Seattle cuz we are heading that way in about one month. We know the owner’s personal address and will make things right. Will report back the results of our meeting with the thiefs.

  2. Who would have thought Panos Mourdoukoutas would espouse Bitcoin as the people’s currency? He was ahead of the curve when he correctly predicted government regulation was a stabilizing influence for BTC.

    I went to school with him and he was intelligent and far-sighted even then!

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