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Microsoft now allows customers to pay for digital goods via Bitcoin

By Shawn Knight
Dec 11, 2014
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  1. Bitcoin has yet to return to the $1,000+ exchange rate it enjoyed a little over a year ago but that doesn't mean 2014 was a bust for the virtual currency. Value aside, it's been a banner year for Bitcoin as...

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  2. cliffordcooley

    cliffordcooley TS Guardian Fighter Posts: 8,550   +2,894

    Bitcoin is a bust to me. I'll never trust them to be a legitimate currency. The concept of bitcoin is similar to that of gambling, which is why gambling is considered illegal in some states.
     
  3. All currency as we know it today is similar to gambling. American currency used to read: "AMOUNT" IN GOLD COIN Payable To The Bearer On Demand." Bitcoin is just as valid of a currency as the American dollar. While it will fluctuate drastically initially, like any new currency. Want real currency? Stock up on gold and drums of oil. :p
     
  4. cliffordcooley

    cliffordcooley TS Guardian Fighter Posts: 8,550   +2,894

    Valid yes, reliable no! The reliability factor is what makes Bitcoin a gamble. I'm not gambling on the value of my paycheck, which is why I will not use Bitcoin.
     
  5. kuroiei

    kuroiei TS Enthusiast Posts: 93   +31

    I'm sorry, but "huge for cryptocurrenct" because of XBox? The title of this post on Facebook is greatly exaggerated at best. ;)
     
  6. cmbjive

    cmbjive TS Booster Posts: 777   +137

    Once a box retail store of the Walmart or Target mold accepts BitCoin I'll take it a bit more seriously. Until then, there really is no reason to move from the dollar.
     
  7. davislane1

    davislane1 TS Evangelist Posts: 3,541   +2,337

    The only thing preventing Bitcoint from being "reliable" is its adoption rate. The more people jump on the BC bandwagon, the more stable its exchange rate will become, all else being equal.

    It's interesting people cite USD being a more reliable currency. Relatively more stable, yes. As an investment vehicle, however, the numbers speak for themselves: http://www.infoplease.com/ipa/A0001519.html

    Stated otherwise, as a function of time a traditional paycheck is a losing bet for long-term financial security. It is no coincidence most retirement plans are weighted more towards managed investments (long-run speculation) than outright savings.
     

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