Steam ditches Bitcoin due to high volatility and commissions

Steam ditches Bitcoin due to high volatility and fees

American developer of computer games Valve reported about Tom, what stops accept bitcoins on his Steam content distribution platform.

“As of today, Steam no longer accepts bitcoins as a payment method due to significant fluctuations him cost and high commissions “, – writes company.

Steam service started accepting bitcoins last April of the year, when 1 BTC cost about $ 450. Together with the growth of the bitcoin rate, the price whom recently exceeded $ 14 000, fees for dispatch transactions. Valve notes that commissions peaked at $ 20 last week, in then time like when they started working with bitcoin, their the value, as a rule, did not exceed $ 0.20.

Steam ditches Bitcoin due to high volatility and commissions

Besides Togo, extremely high volatility makes bitcoin practically useless for like shopping, writes Valve. The company points out that Bitcoin could lose up to a quarter of its value within a few days. If calculation is not will be produced during, Valve will either have to return the money user, or ask him to pay the missing amount. Both transactions involve repeated payment of commission.

“Therefore, at the moment, the use of bitcoin in quality payment method seems to us unreasonable “, – writes Valve, adding, what can reconsider your decision in the future.

Worth notice, what for blockchain a number of solutions are being developed to solve the problem of high fees. One of such decisions is an Lightning Network, whose developers have recently introduced uniform specification requirements that, as they are claim themselves, were the missing link that did not allow them to go further.

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