07 Dec '17, 5am

Steam no longer accepting Bitcoin as payment, because it's too volatile

Steam no longer accepting Bitcoin as payment, because it's too volatile

The rise and rise of Bitcoin might make some people richer, but it's been a headache for companies that accept it. Steam, the gaming digital distribution service owned by Valve, will no longer take Bitcoin as a form of payment. SEE ALSO: This was Bitcoin's big year, but where does it go from here? In a blog post on Wednesday , Valve explained the decision was made due to the "high fees and volatility" in the value of the cryptocurrency in recent months. According to the company, transaction fees that were 20 cents when they first enabled the cryptocurrency in April 2016 have skyrocketed to as much as $20. Bitcoin's network is struggling to keep up with the number of transactions that are being processed, pushing up transaction fees as miners prioritize transactions which pay a higher fee. Then there's of course the extremely unpredictable value of Bitcoin itself. In case y...

Full article: http://mashable.com/2017/12/07/bitcoin-steam-payment-end/

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Steam no longer accepting bitcoin due to "high fees and volatility"

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