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Re:Confessions of a Bitcoin Widow by onion2k on Tuesday February 15, 2022 @10:26AM (#30347669)
At the beginning one of Quadriga's products was an ATM that people could use to deposit cash and get BTC in return. It's just about plausible that they emptied the ATMs and took the money home occasionally.

https://en.wikipedia.org/wiki/Quadriga_Fintech_Solutions

Re:Confessions of a Bitcoin Widow by coldtea on Tuesday February 15, 2022 @10:43AM (#30347953)
>It's just about plausible that they emptied the ATMs and took the money home occasionally.

What kind of business with ATMs "takes the money home"?

Even if it's totally legit, it's also totally insecure - they could be robbed at any time.

Money in such quantities are not takes to the home and stacked the kitchen top, they are deposited to banks - by armored guards in vans.

Re:Confessions of a Bitcoin Widow by michaelt on Tuesday February 15, 2022 @11:10AM (#30348350)
> What kind of business with ATMs "takes the money home"?

The kind where $200M of customers' money "goes missing" and the ceo "suddenly dies" on a holiday to a country famous for its scam artists?

Re:Confessions of a Bitcoin Widow by coldtea on Tuesday February 15, 2022 @12:35PM (#30349758)
Yes, which is my sentiment exactly.

Whereas the parent commented that "they might had simply taken the money from the ATMs home" as an excuse for them being a legit business while having stacks of cash on their kitchen tops.

Re:Confessions of a Bitcoin Widow by trynewideas on Tuesday February 15, 2022 @12:11PM (#30349312)
A lot of folks in this thread would find reading up on (or especially working in) the US cannabiz and sex-work spaces incredibly enlightening.
Re:Confessions of a Bitcoin Widow by donnythecroc on Tuesday February 15, 2022 @04:14PM (#30352810)
Can you say more?
Re:Confessions of a Bitcoin Widow by jimmydorry on Tuesday February 15, 2022 @09:31PM (#30355700)
When no banks want to work with you, and when you offer a service that can be paid for in cash, it's not surprising that the entrepeneur will end up carrying a lot of cash at any given point in time.

Definitely not ideal, but what else can they do?

Re:Confessions of a Bitcoin Widow by allannienhuis on Tuesday February 15, 2022 @10:54AM (#30348115)
I know some people that used to run a number of those 'private' atms you'd find in gas stations, etc. They regularly drove to the various machines to fill them up with cash, driving an old pickup truck and carrying around 30-50k in 20$ bills in a brown paper bag. Security by obscurity I guess.
Re:Confessions of a Bitcoin Widow by WrtCdEvrydy on Tuesday February 15, 2022 @11:30AM (#30348668)
From my time in the Bitcoin ATM space, it was difficult to get a bank to accept a large amount of cash from a Bitcoin ATM.

The issues at the beginning was use of non-standard sized bill receptors and non-digital vaults at the ATMs but that has been solved recently. At the time, we used two ideas: provide a regular ATM right next to the Bitcoin ATM to dispense bills out (so we'd get ACH) and regular pickups and drop-offs to a bank.

Re:Confessions of a Bitcoin Widow by ska on Tuesday February 15, 2022 @11:25AM (#30348580)
> What kind of business with ATMs "takes the money home"?

Unbanked businesses? Some of them because they are illicit, but others exist because banks don’t want the association.

Re:Confessions of a Bitcoin Widow by onion2k on Tuesday February 15, 2022 @11:00AM (#30348203)
It's undoubtedly completely stupid, that's a given, but if your husband runs a company that deals in large amounts of cash (like one that runs ATMs), then it's plausible that seeing piles of cash on the kitchen counter might not be an immediate red flag.
Re:Confessions of a Bitcoin Widow by lupire on Tuesday February 15, 2022 @10:49AM (#30348044)
a Crypto company whose founding principle is "not banking"
Re:Confessions of a Bitcoin Widow by spelunker on Tuesday February 15, 2022 @11:49AM (#30348999)
I mean, poorly-run ones is the obvious answer.