Microsoft no longer accepting Bitcoin deposits
Cryptocurrency users are used to seeing more and more adoption of the instruments by companies. From time to time there are setbacks however, like Microsoft now reversing its previous bitcoin position.
Microsoft’s About-Face on Bitcoin
Technology giant Microsoft (NASDAQ:MSFT) has canceled a previous bitcoin funding method for clients. The company has already sent out an email to all its clients who the system detected were affected by this funding issue. This settles the issue after a lot of speculation on social media and community forums based on partial information.
A Microsoft representative has also confirmed the matter on chat with us, and explained that from “December 26, Microsoft is no longer accepting Bitcoin in exchange for credit on the customer’s account. The “Redeem bitcoin” link on Account.Microsoft.com has been removed, so customers like you will no longer see the option. Previous redeem error information has been removed from this post.”
Live Chat with Microsoft
BTC Issues
Microsoft support staff are not at liberty to disclose the reasons the company decided to take this move. However, from discussions with various employees in different forums one gets the picture that this was done not because of any regulatory demands or anything like that, but was rather due to operational issues.
Long delays, price volatility and high transaction fees have been known to hinder BTC adoption for a while already, and the problems have only gotten worse recently. Here we see that, like in the case of online gaming platform Steam, it can also lead companies to reverse course on bitcoin completely until the issues are resolved one way or the other. Maybe it will serve to push developers to come to an agreement on the way forward sooner rather than later.
Understandable. Bitcoin as it is now is almost impossible to work with. The high transaction fees and long delays are not good for hour reputation as a big company. When people buy/register, they want access immediately, and they don’t want to pay extra.
I see smaller companies in my country that have switched to Litecoin to accept payments. I think that was a smart move (for now)
Yes, i think it will be Litecoin year, especially that they're already reducing fees to extra small, and i heard info that they are introducing litecon credit cards, if so price will blow up
That's a sad state of affairs, but I hope that folks who give up on BTC don't give up on crypto altogether. How cool would it be if Microsoft accepted Monero... or even ETH?
I think monero wouldn't be accepted in companies like that cuz of anonymity
Definitely not, but one can dream!
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