Microsoft News: Bitcoin and the Under-18 Demographic

[JimboToronto]

But how do they buy bitcoin in the first place?

Just trot down to the local BTC ATM and feed fiat into the slot.

My nearest ATM allows purchases as low as $5 (smallest Canadian banknote).

That should be within range of any kid's allowance.

[JimboToronto]

This already exists.

My neighborhood Bitcoin shop (Decentral) offers $50 credit-card-sized plastic gift cards with scratch away private keys for those who are intimidated by paper wallets or want to make things seem more familiar to noob recipients.

I prefer paper wallets along with a list of links so the recipient can learn about Bitcoin. Also scanning QR codes is so much easier than typing in alphanumeric keys from a scratch card.

[NotLambchop]

But how do they buy bitcoin in the first place?

Just trot down to the local BTC ATM and feed fiat into the slot.

My nearest ATM allows purchases as low as $5 (smallest Canadian banknote).

That should be within range of any kid's allowance.

Lol, look for a BTC ATM & lose money on fees.  Then realize that the smallest amount MS allows to be added is $10.

Or walk to the nearest store and buy

[Martijnvdc]

That's a reasonable assumption. But then how do you assume someone under 18 has easier access to bitcoin than someone over 18? And why assume gamers are under 18? The average age of a gamer is around 30...

[ArticMine]

Under 18's have little money and what little money they have is usually spent on frivolous bullshit.

If they need to spend money online they can always borrow mom or dads credit card

It's a complete non-factor.  Besides you'd be surprised how many men 18-40 are playing games on xbox.

It is huge. In many cases under 18's have way more disposable income than adults in their 20's since they are both living at home and working part time.

As a baby boomer I come from a generation where a 17 year old did not have to get mom's or dad's permission to spend the money he or she had earned. Furthermore my parents did not use credit cards. For the most part it still was a much saner cash / bearer instrument society. By the way it is not just the under 18 crowd. Who has not waited in line while a senior citizen navigates a chip and pin terminal at the checkout. Chip and pin has to be one of the most asinine methods of payment ever devised. Cash is way more efficient. XBT and other crypto currencies actually turn back the clock to a much saner time of bearer instruments and push rather than pull transactions. The way that commerce has been transacted for millennia.

[leen93]

why under 18's don't have creditcards? 

[2dogs]

The under 18 demographic is small potatoes but they are being trained/programmed.
The bet is - as they grow older, they become the generation who uses cryptos without question.

[riiiiising]

But how do they buy bitcoin in the first place?

Just trot down to the local BTC ATM and feed fiat into the slot.

My nearest ATM allows purchases as low as $5 (smallest Canadian banknote).

That should be within range of any kid's allowance.

Lol, look for a BTC ATM & lose money on fees.  Then realize that the smallest amount MS allows to be added is $10.

Or walk to the nearest store and buy

Don't even bother.. it's like trying to teach a dog algebra. Only a bitcoin true believer can actually imagine that a teenager would go through pain staking lengths, and cough up fees so that he could get bitcoins, only to trade them online for an xbox gift card.

Rather than buy one online with mom and dad's credit card and pay them back in cash... or you know... just walk to the store and buy a top up card off the shelf without any hassle or bullshit.