Bitcoin Back at Microsoft Store After Short Break

Bitcoin is back at Microsoft after a two week hiatus.

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Yesterday we reported that Microsoft had quietly removed the facility to pay in Bitcoin from the Microsoft Store, a change that took place on Boxing Day, without an accompanying official statement.

The removal of Bitcoin two weeks ago was due to the “unstable state of the bitcoin currency”, according to Bleeping Computer. Microsoft representatives, in response to queries, had said that the removal was temporary.

The average fee for a Bitcoin transaction is currently 31.43 USD (median 18.03 USD) according to Bitinfocharts.com, which is obviously a problematic element of this payment system. In addition to this, slow transaction processing times are an issue for retailers - the average transaction time as of yesterday was around an hour, according to Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term.info. In the time that it takes for a transaction to be processed, Bitcoin could lose value, and the retailer could lose money.

The higher the transaction fee paid, the more likely the transaction is to be processed quickly by a miner. It is also possible to not pay a fee at all by way of a manual override, but then your transaction will most likely not be processed.

Yesterday, a Microsoft spokeswoman told news.com.au: “We’ve restored bitcoin as a payment option in our store after working with our provider to ensure lower bitcoin amounts would be redeemable by customers.”

Microsoft added the Bitcoin button in 2014. According to the Microsoft support page, it can be used to purchase games, movies, and apps in the Windows and Xbox stores, but cannot be used to buy items from the Microsoft online store. It also can't be used to buy gift cards, and it once deposited, it won't be refunded.

Microsoft temporarily suspended Bitcoin Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term in 2015 and 2016, for similar reasons.