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Microsoft Does Accept Bitcoin Now

Microsoft Account Bitcoin Payment Option

Bitcoin gains more acceptance. Another big company starts to accept Bitcoin and this time it is Microsoft. They made it now possible to add funds to your Microsoft account via Bitcoin. You can’t use Bitcoin directly to buy content or products, however, you can use Bitcoin to add funds to your Microsoft account and with the money you can make purchase apps, games and more for Windows, Windows Phone and Xbox.

In the official announcement of Microsoft they mention that they work together with BitPay, the leading payment processor of the Bitcoin ecosystem.

If you used Bitcoin to add funds to your Microsoft account, you will be able to purchase content in the Windows Store, or in Microsoft stores of Xbox Games, Xbox Music or Xbox Video.

Eric Lockard, the corporate vice president of the Universal Store at Microsoft said “For us, this is about giving people options and helping them do more on their devices and in the cloud,” and “The use of digital currencies such as bitcoin, while not yet mainstream, is growing beyond the early enthusiasts. We expect this growth to continue and allowing people to use bitcoin to purchase our products and services now allows us to be at the front edge of that trend.”

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9 Comments »

    • I think this is wise, because Bitcoin is at the moment everything but not settled. It’s not really too important. It’s more experimental if you ask me. It is also more speculative than a payment variant at the moment but this might change. It’s interesting as a subject but also not something that you absolutely need to use. I prefer cash too and for online shopping I use PayPal most of the time.

      I own a half Bitcoin that I purchased for $50 some time ago. It quadrupled and is now worth around $180. I did this to experiment with it at that time but I was aware that I could lose the $50 and didn’t use my bread and butter but money that I could afford to lose.

      However, this is a high risk and long-term investment and the market is still very volatile and highly speculative. In fact the value declines over a long period until it increases again at times, it’s really a pump and dump game of some big players at the moment. I wouldn’t suggest anyone to invest in this. I don’t play lottery and didn’t make investments in the past but Bitcoin was the first time I did so, just for fun and because I like the idea of the technology and as I wanted to experiment with it too but I wouldn’t again at the current exchange rate because I think the price is more pumped because of speculation and not justified due to transaction volume or so.

      I also used it a few times to purchase computer games and other things, to find out how it works. Still quite difficult and not ready for mainstream unless you use a payment proccessor for your wallet and online shopping. Also still not too much possibilities to spend Bitcoin in stores, but it gains more and more acceptance from stores and companies as you have read in the Microsoft news. But governments dislike it because they now need to come up with ideas how to regulate this currency and Bitcoin is not easy to regulate. In fact the whole tax question is not really clarified yet. Then some media channels (apart from tech media channel) dislike it and bash it because the currency has been used by criminal groups for illegal activities as well in the past. Then there were also many hacked Bitcoin wallets and you must be up to date with security aspects.

      The technology is great and interesting but it also has a lot of flaws that many Bitcoin believers wouldn’t admit. I’d say I am observer of this technology but not a crazy evangelist. Sadly the Bitcoin community consists of a lot of crazy and delusional people who praise it a little too heavy and I bet there will be a lot of unlucky people if this technology fails, especially because it attracts a lot of “get rich quick guys” that want to go all in. Just a week ago I saw someone in a Bitcoin related forum on Reddit asking how he can sell his house for Bitcoin because he believed that our cash money will fail soon and that Bitcoin will be the only world wide currency then… crazy!? But the thing is that there were even a lot of people that agreed with him. It’s at times like a cult, they do even have a mantra that is often used “To the moon!” and that is related to the exchange rate.

      It’s at the moment more driven by speculation and the volatility might go away if it is more used for transactions (online payments) than for speculation, which is why news like the Microsoft one are good for Bitcoin. I’d say it’s still very experimental but it hopefully gets more used for online transactions and shopping than as an speculative asset that gains and loses value from one second to the other. It’s also interesting to find out how governments will handle all this.

      So, in case you get interested anyway some day, be careful and make your own research. Be careful with Bitcoin people… There are many insane “Bitcoin evangelists” in that community. People who go so far and will tell you that our cash money, the fiat currency (Dollar, Euro) is inferior to Bitcoin and that it is no real currency lol (just to name one example). There are also a lot normal and cool people, but it needs to mentioned that this community is full of insane people too. And it’s not unlikely to meet them in non-Bitcoin related areas of the internet. However, you wouldn’t fall for this anyway, but it must be mentioned. I think I will write about the “shit” that goes on in this community some day too because it’s really crazy.

      There are however also some interesting points about this technology and I see also some advantages and what it could make possible, which is why I follow it. It’s just that I see myself more as a moderate person when it comes to Bitcoin. I just monitor it and experiment with it at times. I am curious about it but won’t praise it.

      • I think we all aren’t Charles 😀 Me neither. Sadly we all can’t know what will work out great and what not. I am prepared to lose my Bitcoin and with that also the money that it did cost. I only used money that was easy to forget as soon as I did put it in there. On this way it won’t hurt if it never will become successful.

    • I think this all is still very experimental because the companies do usually only make it possible with limitations but it’s indeed interesting to see that some companies start to check it out.

      • I still have a half Bitcoin but I bought it some time ago for $50 and it’s now worth around $180. But I won’t buy more. I don’t think that the current exchange rate is justified by transaction volume or demand but rather pumped up by speculation and that against the market pressure that wants the exchange rate to go down. I think the exchange rate is artificial hold up and the current rate must not be the real value of the currency. But the more companies accept Bitcoin, the more the price will find it’s real spot, which is why such news like the Microsoft news are really good for the currency. I rather like to see the price decline now and to increase later due to real and not faked demand and transaction volume. If the price goes later up due to real usage, it would be of course cool, which is why I was afraid to sell my half coin. Yes, I save it 🙂

    • Also, the more companies go in, the more it is used for online payments and the exchange rate will become more realistic and less driven by speculation. This is cool.

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