[2017-12-06] Steam Drops Support for Bitcoin Payments Citing Wild Price Swings

[tyz]

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/

[Thekool1s]

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.

[Iranus]

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.