Microsoft News: Bitcoin and the Under-18 Demographic

riiiiising

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Quote from: NotLambchop on December 16, 2014, 11:06:09 AM

Quote from: JimboToronto on December 16, 2014, 10:50:06 AM

Quote from: Ultros on December 11, 2014, 12:56:35 PM

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.

2dogs

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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.

leen93

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why under 18's don't have creditcards? Roll Eyes

ArticMine

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Monero Core Team

Quote from: solitude on December 11, 2014, 07:48:13 PM

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.

Martijnvdc

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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...

NotLambchop

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Quote from: JimboToronto on December 16, 2014, 10:50:06 AM

Quote from: Ultros on December 11, 2014, 12:56:35 PM

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

JimboToronto

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You're never too old to think young.

Quote from: Raystonn on December 11, 2014, 08:21:11 PM

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.

JimboToronto

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You're never too old to think young.

Quote from: Ultros on December 11, 2014, 12:56:35 PM

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.

mmortal03

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Quote from: 2_Thumbs_Up on December 11, 2014, 08:09:00 PM

Quote from: Ultros on December 11, 2014, 12:56:35 PM

But how do they buy bitcoin in the first place?

Why are bitcoin gift cards not a thing?

I think someone like circle should easily be able to team up with a big merchant to sell something that is redeemable for bitcoins. The price could be fixed at either the time of purchase or at the time of redemption.

Give cash -> Get receipt -> Go home -> Redeem bitcoins with code on the receipt

Or better yet, the receipt could be a paper wallet itself, and be swept by any app you want. Although the incentives are probably stronger for a company that wants to get people to sign up for their wallet.

This is one type of feature on some Bitcoin ATMs. If you don't have a wallet ready on your phone, it can print you a paper wallet.

Raystonn

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You mean like this?
http://blogs.microsoft.com/firehose/2014/12/11/now-you-can-exchange-bitcoins-to-buy-apps-games-and-more-for-windows-windows-phone-and-xbox/

SanMerryDro

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Microsoft seems to be no official announcement

Raystonn

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Quote from: 2_Thumbs_Up on December 11, 2014, 08:09:00 PM

Quote from: Ultros on December 11, 2014, 12:56:35 PM

But how do they buy bitcoin in the first place?

Why are bitcoin gift cards not a thing?

I think someone like circle should easily be able to team up with a big merchant to sell something that is redeemable for bitcoins. The price could be fixed at either the time of purchase or at the time of redemption.

Give cash -> Get receipt -> Go home -> Redeem bitcoins with code on the receipt

Or better yet, the receipt could be a paper wallet itself, and be swept by any app you want. Although the incentives are probably stronger for a company that wants to get people to sign up for their wallet.

This already exists.

2_Thumbs_Up

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Quote from: Ultros on December 11, 2014, 12:56:35 PM

But how do they buy bitcoin in the first place?

Why are bitcoin gift cards not a thing?

I think someone like circle should easily be able to team up with a big merchant to sell something that is redeemable for bitcoins. The price could be fixed at either the time of purchase or at the time of redemption.

Give cash -> Get receipt -> Go home -> Redeem bitcoins with code on the receipt

Or better yet, the receipt could be a paper wallet itself, and be swept by any app you want. Although the incentives are probably stronger for a company that wants to get people to sign up for their wallet.

solitude

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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.

Raystonn

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Sorry, why would I need to connect a credit card to my Bitcoin wallet? The money from your job goes to a list of direct deposit accounts you specify. One of them can be Bitwage, which turns it straight into BTC in your own Bitcoin wallet.

Sakarias-Corporation

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Call me Alice. just Alice.

Quote from: Raystonn on December 11, 2014, 07:32:37 PM

I just found a way to eliminate my need for a bank account. I discovered Bitwage. I have signed up and am now testing it out. The quick description is you direct some of your direct deposit paycheck to Bitwage's checking account. When they receive it, you get the equivalent in Bitcoin the next day. Not only does this remove the bank from the loop, but it's much faster than waiting days for Coinbase, and doesn't leave a trail in your checking account showing how much Bitcoin you have.

what about Reciving Money from your job ? does it work well to pay bills with ? how will you pay for things at a store ? can you connect a credit card to it ?

Raystonn

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I just found a way to eliminate my need for a bank account. I discovered Bitwage. I have signed up and am now testing it out. The quick description is you direct some of your direct deposit paycheck to Bitwage's checking account. When they receive it, you get the equivalent in Bitcoin the next day. Not only does this remove the bank from the loop, but it's much faster than waiting days for Coinbase, and doesn't leave a trail in your checking account showing how much Bitcoin you have.

Sakarias-Corporation

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Call me Alice. just Alice.

They could Work for it.

CoinFriend

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support.

this company shows an example for the next and younger generation, what is possible with bitcoin. and they generate them self a new capital source!

and for all them of the old generation, who use bitcoin already, it will have an effect also. a new way to purchase XBox games. and maybe a kind of stability on the btc / fiat market.

i think it is a big step for the whole economy.
done by anybody other than microsoft!

and technical interested parents maybe will pay their kids pocket money in bitcoin... i think, they don't need really a bank account.

Raystonn

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Localbitcoins... ATMs... Tips...

Topic: Microsoft News: Bitcoin and the Under-18 Demographic (Read 2238 times)