Steam Community :: Group Announcements :: Steam Blog


12 bookmarks. First posted by fnord 5 days ago.


Bitcoin transaction costs and volatility cause Steam to cease accepting it for payment.
bitcoin  cryptocurrency  via:HackerNews 
5 days ago by mcherm
> due to high fees and volatility in the value of Bitcoin.
from twitter
5 days ago by jackysee
RT : Steam is no longer supporting Bitcoin
from twitter
5 days ago by ciphpercoder
SteamでBitocoinが使えなくなった話。レート変動の速さにより、決済手数料が複数必要になるケースが多く、Steamではうまく機能していない?
finance  bitcoin  steam 
5 days ago by hail2u
Steam is no longer supporting Bitcoin
from twitter_favs
5 days ago by briantrice
<p>As of today [December 6], Steam will no longer support Bitcoin as a payment method on our platform due to high fees and volatility in the value of Bitcoin.

In the past few months we've seen an increase in the volatility in the value of Bitcoin and a significant increase in the fees to process transactions on the Bitcoin network. For example, transaction fees that are charged to the customer by the Bitcoin network have skyrocketed this year, topping out at close to $20 a transaction last week (compared to roughly $0.20 when we initially enabled Bitcoin). Unfortunately, Valve has no control over the amount of the fee. These fees result in unreasonably high costs for purchasing games when paying with Bitcoin. The high transaction fees cause even greater problems when the value of Bitcoin itself drops dramatically.

Historically, the value of Bitcoin has been volatile, but the degree of volatility has become extreme in the last few months, losing as much as 25% in value over a period of days. This creates a problem for customers trying to purchase games with Bitcoin.</p>


Store of value and/or medium of exchange or just speculative instrument?
bitcoin  steam 
5 days ago by charlesarthur
is this good for bitcoin
from twitter
5 days ago by steveklabnik
Too volatile, too expensive
bitcoin  steam  via:hackernews 
5 days ago by nelson