Microsoft stops accepting bitcoin as payment method due to volatility

4.3
After months of tumultuous movement in its value, the most popular cryptocurrency in the world has seen massive gains in its value, followed by periods of steep decline, and so on. All this volatility has been enough to make Microsoft decide to stop accepting bitcoin as a way of adding money to your Microsoft account, at least temporarily.

As Bleeping Computer reports, multiple Microsoft employees have informed the publication that Microsoft has removed the cryptocurrency as a payment option. It's unclear if this will remain the case indefinitely, though the aforementioned employees state the move is temporary.

This is, of course, not the first time Microsoft has disabled the use of bitcoin on its platform after it first added the option back in 2014. Two years ago, the company did the same thing, although it immediately reversed the decision a day later, blaming the whole thing on an accident.

Microsoft is also not the only company to take similar steps in recent months. Steam famously stopped accepting bitcoin as well last month. Both tech giants blame the volatility of the currency as being the reason for the change, as sudden changes in value can not only lead to massive losses but may also erode consumer confidence as they haphazardly change prices to reflect the rapidly shifting exchange rates.

Posted:
Related Forum: Gaming Discussion

Source: https://www.neowin.net/news/microsoft-to-stop-accepting-bitcoin-as-payment-method-due-to-volatility

Comments

"Microsoft stops accepting bitcoin as payment method due to volatility" :: Login/Create an Account :: 18 comments

If you would like to post a comment please signin to your account or register for an account.

-BackwoodsPosted:

Dang that's too bad. Btc had declined a lot.

WizardPosted:

1337rep Bitcoin has its pros & cons, its a very simple payment method yet very unpredictable in value.


Everything has its pros and cons.

Myself I don't think I will ever get into bitcoin

mapwood6Posted:

RepBandit
Silky I'm suprised they ever accepted BTC as a payment method tbh.


Why? It was a form of currency in some countries but is no longer now, but still. People pay in btc like paypal


I wouldnt say as popular as paypal. But its doing well.

FamousPosted:

1337rep Bitcoin has its pros & cons, its a very simple payment method yet very unpredictable in value.


unpredictable is so right. Just watching the numbers drop now when they were doing good.

1337repPosted:

Bitcoin has its pros & cons, its a very simple payment method yet very unpredictable in value.

CoryPosted:

Silky I'm suprised they ever accepted BTC as a payment method tbh.


Why? It was a form of currency in some countries but is no longer now, but still. People pay in btc like paypal

Exist_Posted:

Famous Is it smart though? If bitcoin keeps rising can't Microsoft cash out in bitcoin?


I don't think they need to without the amount of money their company is worth.

SilkyPosted:

I'm suprised they ever accepted BTC as a payment method tbh.

Mason95Posted:

Hollywood_Undead
Mario350 bitcoins are useless as you can lose it all by one little hacking f*ggot, monopoly money(canadian money) and paper money(american money) are better as its harder to hack into bank accounts without the proper tools, saw this happening from a mile away first valve then ms atleast sony was smart and didnt accept them at all but its very good to block bitcoin payments as it can lead to backdoors to the software


Sorry to say, but I dont think you know what you're talking about.


If it is useless how come you can buy stuff with it? You can lose all your money if you are not smart enough to keep/remember your API-Keys in a safe place. The same with "Fiat Money".. People can steal & hack your credit card if your computer is not safe or on an unsafe website that you bought with. Wallets/Money could be drop nor pick-pocketed which could leave to an identity theft, which you wouldn't know until later. Banks are not safe either.., they could either get bankrupt too & corrupt. You don't know unless it happens.

Mason95Posted:

They been not accepting bitcoins for about a month or so.. I tried so many times just to buy 100$ with my bitcoin and I didn't work..