I’m just copy&pasting my response to the other thread about this:
There’s one of the ATMs he’s advertising near me. Last time I looked at it BTC was near ATH, and the ATM was charging about $75k.I find it pretty scummy that this commercial is obviously aimed at people of color and others who have been historically disenfranchised, trying to fool them into more of the same. I would expect better from Spike Lee. The commercial even puts focus on “do your own research” which he obviously didn’t do.
EDIT: A quote from the article, said by Spike Lee;
>Coin Cloud is on the cusp — the cutting edge — of what affects people of color when it comes to finances and access to building wealth. Digital currency is viable for not just people of color, but anybody who has been historically excluded from traditional financial systems.
The “Cutting Edge” is charging 17% more than market value? Fuuuuuuuck you. The commercial is just the worst kind of hype. Apparently Bitcoin is better than fiat because fiat has pictures of white people on it.
And apparently it’s not called fiat, it’s called “old money” and I’m sure that there’s no other usage of that term that they’re trying to confuse people with. /s
2nd edit: I just looked it up, and they say they charge like 7% above market on buys, but…I’m pretty sure I saw them charging 75k. DYOR.
still, 7% above market on buys and 4% below on sells means they’re bandits no matter what the market does.