Will and Norm from Tested recently tried their hand at purchasing bitcoin, and to sum it up in one short sentence: it turned out to be a disaster.
The two took to a bar in Austin, Texas at SXSW recently and started by purchasing a bitcoin from a Robocoin bitcoin ATM. As you’ll see, there are a lot of steps you need to go through to get your digital money, which to say the least, seems like a hassle.
When the two finally do get their bitcoin, it takes some time to find a vendor that will actually accept it, but hey, they managed. One taco later it was time to go back to the ATM and cash out.
Except they couldn’t.
Norm made the mistake of not including a miner fee (which is understandable because anyone unfamiliar with bitcoin probably wouldn’t either), and 24 hours later, still no cash. Cue the high blood pressure.
Really, you should watch this for yourself, because I’m genuinely interested in what you have to say about it. It’s about 15 minutes long, so you might have to sneak it into your lunch break.
If you’re interested in Norm’s post-experience write-up, you can find it here.