As the title says, you can no longer buy games from Steam using Bitcoin. According to valve, this is because the fees are extremely high to be used in such transactions resulting in a much higher cost to the consumer than intended.
“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,” the company explained in its post. “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).”
Source:
http://www.ign.com/articles/2017/12/07/steam-is-no-longer-accepting-bitcoinThis is another indication that we need the Lightning Network. Although Bitcoin's fees have remained stable over the past few months in terms of satoshi, the value of Bitcoin has increased so much that you can seriously feel the impact of each transaction.
I hope that this news will help for stoping the market madness and the bitcoin price will return back to normal.
I think that even the big online casinos will stop using bitcoin because of the fees.I can`t say wether or not LN or Segwit are the solution for the high transaction fees problem,but i was expecting something like this.
Companies will refuse to use bitcoin as a currency and they will replace it by adopting altcoins,like ethereum.
