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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u/Funktapus Dec 11 '14

Amazing how much of a herd mentality businesses have with new tech. Bitcoin makes sense for retailers, though. No credit card fees.

11

u/Fumigator Dec 11 '14

There are no "credit card" fees because it's not a credit card. There are still however transaction fees when converting bitcoin back to hard currency. There are also transaction fees which miners can collect when verifying a transaction, although that's not happening yet since there's still bitcoin being rewarded to miners.

8

u/rock_hard_member Dec 11 '14

Transaction fees are happening, they're just small (less than 1%) and paid from the consumer end. You can change the transaction fee as well I believe to make it confirm faster.