Microsoft Step Back on Bitcoin

[cryptoroi]

Microsoft has accepted Bitcoin as a form of payment for a long time.

Recently the company did a step back and remove the option to pay in Bitcoin.

The reasons specified :

1. High fee on transactions
2. Long delay to get confirmation of the transactions.
3. Extreme volatility

[Don Pedro Dinero]

Yes, but they also said this was temporary. It has already happened in the past, so I'm not worried.

[fiulpro]

I do think that this issue will be solved by this year or so and then Microsoft will have to look up to bitcoins again , I do think that its showing us how hard time bitcoins is having right now and what what needs to be done to keep it back on the track.
Fee is the biggest issue I feel Because now you can easily use a transaction accelerator.

[Washball]

Microsoft must have foreseen these issues from the beginning, so there is some other reason why they initially accepted bitcoin as a form of payment. Everyone knew about the high fees, the high volatility and the long confirmation times. A company like Microsoft with smart decision-makers knows what they're doing.

[cryptodevs]

Im sure they knew this will be the problem of the network from the start,maybe there are some good reasons why they removed btc for their payment method.

[TeLlMeFrY]

The high fees are a very dangerous threat to Bitcoin. If the things keep being like now, it wouldn´t be so strange to see to another altcoin surpass Bitcoin.

[brontosaurus]

Microsoft has accepted Bitcoin as a form of payment for a long time.

Recently the company did a step back and remove the option to pay in Bitcoin.

The reasons specified :

1. High fee on transactions
2. Long delay to get confirmation of the transactions.
3. Extreme volatility

Why only microsoft the whole world will leave bitcoin to move forward if such issues contunue to persist. People of the crypto world will move on to other cryptocurrencies if they find bitcoin not catering their needs.

[brontosaurus]

Microsoft has accepted Bitcoin as a form of payment for a long time.

Recently the company did a step back and remove the option to pay in Bitcoin.

The reasons specified :

1. High fee on transactions
2. Long delay to get confirmation of the transactions.
3. Extreme volatility

1.Currently true
2. Currently trueish
3. Doesn't matter to merchant it should be swapped to fiat immediately.

Come lightining 1 & 2 should be solved.

Why should someone swipe it for fiat? If they were looking for fiat we have direct paypals. People who are optimist will never sell btc because they are sure it will increase. Why will you sell something you are sure will be worth more the next day?

[Scor1937]

All the reasons you mentioned are general and are costing a huge loss of everyone i guess. I had sent 3 transactions 6 days before and yet they are not confirmed. Even the bitcoin fees is increasing a lot and it is causing heavy losses for small transactions. Bitcoins will be the best for accepting and sending payments but just these problems should be soon overcomed.

[audrey12]

At least its a good thing that microsoft consider having bitcoin as a mode of paymentvand will only wait for the time that some issues will be settle. This is one step to the digital economy that many of us want to happen I hope those listed issues maybe be settle soon so that microsoft will go back in supporting bitcoin market

[wisdomcn]

The action of removing bitcoin as a payment option as at this time. As for me it is a right decision because if it happened that I'm the owner of Microsoft, I will not let people to pay such high transaction fee just to patronize my business. As at today I paid a transaction fee of $13 to send $2. This is high. 

[Reatim]

Microsoft has accepted Bitcoin as a form of payment for a long time.

Recently the company did a step back and remove the option to pay in Bitcoin.

The reasons specified :

1. High fee on transactions
2. Long delay to get confirmation of the transactions.
3. Extreme volatility

I would have to agree with Microsoft stepping back and not offering that options anymore. Actually Steam also stop supporting bitcoin for the same reason. And they are not the one complaining about the issues that bitcoin is currently facing, I'm sure all of us have been disgruntled and disappointed as well. I myself has a stuck transactions right now for almost 3 days now.

That's why I think that if Lightning Network, which is the most awaited solution to this issues could be rolled out this early, we can still salvage what we have face value bitcoin has left. A lot of altcoins have been rising up and challenging its supremacy because people are now moving away from bitcoin. And the P2P nature of it no longer exist. Not really suitable for micro-payments, which is one of Satoshi vision that's why he invented it in the first place.

[onemoretime8520]

The company if we analyse it in business terms have made a good decision because with this high transaction fees and time consuming transactions a business can be stressed out.

[shursight]

And you forgot to say that they stopped using bitcoin because they said that it was "not stable" came on, are you seriously? You, microsoft, are the most unstable system that has ever been created, do not lie to yourselves.

Microsoft has accepted Bitcoin as a form of payment for a long time.Recently the company did a step back and remove the option to pay in Bitcoin.

But a lot of people thought that it was a very important thing for bitcoin, and it was not! A lot of people dumped all their bitcoins because of this issue, and we all know that microsoft is just on the bitcoin ecosystem.

Because they just stopped accepting bitcoin, it means that bitcoin is dead?
It is not how it works.. And we all know that bitcoin is not being a good asset for daily expenses, i prefer to hold it instead of spending it on microsoft stuff.

[Yakamoto]

Microsoft has accepted Bitcoin as a form of payment for a long time.

Recently the company did a step back and remove the option to pay in Bitcoin.

The reasons specified :

1. High fee on transactions
2. Long delay to get confirmation of the transactions.
3. Extreme volatility

It's the same thing as what the Steam representatives were saying, and it makes sense because they're in the business to make money and not try to play games (get the pun?) with their operations. If they are finding it harder to make money off of a payment method then they will be inclined to drop it and either move on to something else or remove it from their accepted services until the issues with it can be sorted out. I'd rather wait for more companies to get comfortable with Bitcoin than try to force them to accept it when there is no need for them to do so.

It's kind of annoying that they won't accept it right now but I respect the decision and it makes sense for them to do so. Hopefully they return to the community at some point in the future.

[gentlemand]

Merchant acceptance has proven to be a soaking wet damp squid, albeit occasionally very convenient for us holders who want to spend free money. It would be a huge shame if more of it happened but I expect plenty more where this came from. Their figures must be very low.

Even if the fee situation was sorted out, no one wants to spend something if there's the possibility it's worth more next month. This will always be the case so ultimately I don't think merchant acceptance will be a major thing in future.

[Gintama214]

Not only Microsoft has stepped back from accepting bitcoin many companies also are stepping back from it due to the high fees, the fast increase of bitcoin which made bitcoin really volatile and would make companies worry about it. The transaction is also a problem, which it has long delays of confirmation and us as the consumers don't like to wait for a long time but I do think that big companies are really stepping back due to the volatility of bitcoin and they don't want that risks to have bitcoin and get lower exchange with real money.

[integrap]

High fee on transactions is a big problem for bitcoin. Instead of paying with bitcoin, people choose ethereum or litecoin. I do like that. And I dont understand in the future how companies will accept bitcoin as a payment method. Altcoins are important in this case. I am waiting microsoft to announce a coin as a payment method but not bitcoin.

[The Sceptical Chymist]

I was thinking that Microsoft might be getting pressure from the payment processor--if a transaction gets stuck in the blockchain for days and the price of bitcoin drops 50%, somebody loses.  Not Microsoft, not the consumer, but BitPay or whoever is responsible for giving Microsoft the fiat and taking bitcoin.  IMO, that's totally a valid concern for them and I understand that.

Come lightining 1 & 2 should be solved.

I can't wait for all of this.  Bitcoin seriously needs some improvement before I'm comfortable spending it.  It's just too much of a hassle right now.

[hosseinimr93]

High fee on transactions is a big problem for bitcoin. Instead of paying with bitcoin, people choose ethereum or litecoin. I do like that. And I dont understand in the future how companies will accept bitcoin as a payment method. Altcoins are important in this case. I am waiting microsoft to announce a coin as a payment method but not bitcoin.

For sure it will happen. Blockchain technology will be used for all the payments. But that's not bitcoin. Bitcoin will be always an asset. And altcoins will be used for payments especially micro payments. Microsoft will do the same.