Known online games e-tailer Green Man Gaming has posted a statement on their blog revealing that they will now take Bitcoins as payment in their online store. For those not familiar with the online currency, Green Man Gaming has posted a useful FAQ on the subject that I will quote in part below:
What is Bitcoin?
Bitcoin is a new payment network, and uses peer-to-peer technology to operate with no central authority or banks. With paper money, a government decides when to print and distribute money. Bitcoin doesn’t have a central government. Instead, the management of transactions, and the issuing of Bitcoins is carried out collectively by the Bitcoin network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin, and everyone can take part.
Where do Bitcoins come from?
Bitcoins are created by the Bitcoin network. Bitcoin Miners who use special software to solve math problems (proof that when a Bitcoin transaction takes place, the Bitcoin in question has come from the owner of the Bitcoin Wallet used to pay for the transaction), and are issued a certain number of Bitcoins in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to ‘mine’. The Bitcoin network confirms waiting transactions, and verifies this with strict cryptographic rules (more maths!).
Why is Green Man Gaming offering Bitcoin?
The results from our Buyer Survey in May told us 89% of you “think it is important for stores like Green Man Gaming to offer a wide selection of payment methods.” Bitcoin is just one option in a range of virtual currencies that we offer. Following our survey, we know you have a range of expectations and preferences when it comes to how you want to pay for games. The advantages of offering multiple ways to pay, means you have easier access to the games and content you love. We are offering Bitcoin and other currencies as part of a range of payment methods as we think it’s important to meet your needs.
Since launching several years ago, Bitcoins, an advertised crypto-currency, have been seen by some online as a way to circumvent traditional payment methods that is both private and useful. Several parodies of the currency have also popped up online as a sort of backhanded jab at the concept, including Dogecoin, a strange hybrid of currency and the Doge meme that features a picture of an unusually expressive Shiba dog surrounded by poorly spelled text.
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Source: Green Man Gaming