# Bitcoin at coin counting machines

**URL:** <https://boards.straightdope.com/t/bitcoin-at-coin-counting-machines/930374>\
**Category:** Factual Questions\
**Created:** [January 12, 2021, 10:28pm UTC](https://boards.straightdope.com/t/bitcoin-at-coin-counting-machines/930374 "2021-01-12T22:28:03Z")\
**Posts on this page:** 5\
**Page:** 1

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**Author:** ![Rick\_Kitchen](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/rick_kitchen/32/522_2.png) [@Rick\_Kitchen](https://boards.straightdope.com/u/Rick_Kitchen)\
**Post date:** [January 12, 2021, 10:28pm UTC](https://boards.straightdope.com/t/bitcoin-at-coin-counting-machines/930374/1 "2021-01-12T22:28:03Z")

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I’m seeing a lot of coin counting machines that are offering bitcoin. How does that work? Do you have to put $32,000 into the machine to get a bitcoin? Or can you buy fractions of a bitcoin?

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**Author:** ![Folly](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/folly/32/3219_2.png) [@Folly](https://boards.straightdope.com/u/Folly)\
**Post date:** [January 12, 2021, 10:32pm UTC](https://boards.straightdope.com/t/bitcoin-at-coin-counting-machines/930374/2 "2021-01-12T22:32:40Z")

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The smallest unit of bitcoin is 0.00000001 bitcoins and has been named a “Satoshi.”

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**Author:** ![Schnitte](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/schnitte/32/9033_2.png) [@Schnitte](https://boards.straightdope.com/u/Schnitte)\
**Post date:** [January 13, 2021, 12:47pm UTC](https://boards.straightdope.com/t/bitcoin-at-coin-counting-machines/930374/3 "2021-01-13T12:47:15Z")

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You put in cash, and the machine will give you a receipt with a redemption code. With that code, you can log into a website and obtain bitcoins. As @Folly had said, the Bitcoin algorithm allows for (very small) fractions of a bitcoin.

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**Author:** ![Folly](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/folly/32/3219_2.png) [@Folly](https://boards.straightdope.com/u/Folly)\
**Post date:** [January 13, 2021, 2:18pm UTC](https://boards.straightdope.com/t/bitcoin-at-coin-counting-machines/930374/4 "2021-01-13T14:18:00Z")

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0.00000001 bitcoins is about 3 hundredths of a cent right now.

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**Author:** ![MindsEye\_Watering](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mindseye_watering/32/3619_2.png) [@MindsEye\_Watering](https://boards.straightdope.com/u/MindsEye_Watering)\
**Post date:** [January 13, 2021, 5:18pm UTC](https://boards.straightdope.com/t/bitcoin-at-coin-counting-machines/930374/5 "2021-01-13T17:18:25Z")

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That’s the same as a Schrute-Buck, isn’t it?