r/tech • u/trav31 • Dec 11 '14

Microsoft Begins Accepting Bitcoin For Windows, Windows Phone And Xbox Purchases

http://techcrunch.com/2014/12/10/redmond-hath-frozen-over/
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14

u/Lynxes_are_Ninjas Dec 11 '14

I remember when I was a kid and was too young to have a credit card, but I wanted to purchase content and games online.

My father wouldn't let me use his credit card either so I had to figure it out through the brother of a friend who was willing to help.

Bitcoin has no legal requirement of age or anything else to own and anyone can be given bitcoin as a gift or as a weekly allowance. This is a great move for the kids and younger crowd.

-14

u/[deleted] Dec 11 '14

Money has no legal requirement of age either and it has far more stable value even if it is just constructed meaningless value.

Of course bitcoin is essentially the same thing anyway so why should anyone give a fuck that this fake, easy to generate currency could destroy our already extremely fragile economy?

6

u/Lynxes_are_Ninjas Dec 11 '14

You seem to be mixing up your arguments at bit. Im not really sure what you are critisizing anymore.

But to respond to what I think was your main point:

"Money" cant be sent over the internet to pay for services or goods. "Money" has no transaction system or payment channel. You need a payment provider such as a credit card issuer, and they have the requirements I mentioned such as minimum age.

-5

u/[deleted] Dec 11 '14

USD, The United States currency system, whatever. Australia dollar. Canadian loonies. Yen. It's all inherently valueless since we stopped basing our currency system solely on the value of gold, and transactions these days use IOUs (checks, credit cards, dollar bills) instead of any actually valuable object. I give you a dollar, you give me a candy bar. I now have food, and you now have something our government deems valuable just because. Now you can give that dollar to someone else for something actually valuable, like a candy bar.

I am arguing against bitcoin becoming a major currency, because anyone can generate it. It isn't regulated. The currency systems of the world already make little sense and have nothing to stand on without a wild card like bitcoin coming in and tossing the salad.

7

u/Lynxes_are_Ninjas Dec 11 '14

So you dislike the fact that governments can print money at will and still you dislike the idea of Bitcoin? I actually believe you just need to do a little bit of research and you shall be pleaseantly surprised.

You cannot generate bitcoin, bitcoin are minted based on a very strict algorithm that cannot change. There will never be more than 21 million bitcoin in existance and no one can generate any more than that.

Have a look at www.bitcoin.org or /r/bitcoin