Bitcoin Forum

Steam Drops Support for Bitcoin Payments Citing Wild Price Swings, High Transaction Fees

Bitcoin may be trading at all-time highs, but not everybody is celebrating. Crypto-loving gamers everywhere have their headsets in a twist after Valve, the parent company of popular online gaming platform Steam, announced today that they will no longer be accepting Bitcoin payments.

http://bitcoinist.com/steam-drops-support-for-bitcoin-payments-citing-wild-price-swings-high-transaction-fees/

Well i totally understand steam's perspective, they want to protect their customers along with the developers who spend a fortune creating a game, But i think it should have been on the developers whether they wanted the payments in bitcoin or not. This also shows that we need a fix for transaction timing and transaction fees soon, or bitcoin may die in its infancy or lose its purpose of being a currency and not an investment asset.

This is one of the last steps for BTC in its awkward and strange transition from "currency" to speculative asset.

It's not really very good as a speculative asset because it opens up the space for loads of altcoins to be heavily speculated on as well, but given the right circumstances it could be a great currency.

I'm hoping that the price will fall somewhat and the Lightning Network will be implemented at a time with less wild price swings.