Bitcoin Well Inc V.BTCW

Link to Bitcoin Well fact sheet

[foundalpha]

BTCW's revenue run rate is C$100+ million per year. Here's the link to their fact sheet (full presentation also available on their website):

BTCW fact sheet

[Bookworm28]

Interesting company. I'm not clear on how they actually make money. I went to their website, and their primary business appears to be facilitating and promoting promoting bitcoin transactions, but they don't appear to charge any transaction fees. I phoned a couple of companies I pay (e.g. utility company), and they don't take bitcoin. They weren't very helpful when I asked why not,

[foundalpha]

I believe there is a 'commission' or fee embedded in the bid/ask Bitcoin price. This is similar to when one purchases a bond from a bond dealer or when buying paper currency from a bank or currency shop. I believe the embedded fee ranges between 2 and 12%, likely around 8%. Why would someone use at ATM? I can think of a few reasons: ease of completing a transaction quickly (as opposed to

[Bookworm28]

Thanks for the quick reply. I'm just not seeing it. I'd be kinda PO'd being charged 8% for paying a bill using my bitcoin, especially a utility bill ( say 6-8% of a $300 bill =  $18-$24.... expand that to possibly everything i purchase in a year, and it would kind of suck)? There has to be something I'm not seeing in this business model. Perhaps I'll give them a call

[foundalpha]

I don't think most people would utilize a bitcoin ATM to regularly pay all of their bills. Rather, they could choose to pay the occasional bill, especially if their holdings go up in value. Also, I would assume when utilizing the ATM to pay a bill that a commission isn't charged because the bitcoin isn't being converted back to cash. One last point - although they've established a