Citing price volatility and transaction fees, Steam, the popular online gaming platform, is out of the bitcoin business effective 6 December. The world’s most popular cryptographic currency is ripping all economic textbooks apart, reaching price highs unimaginable just weeks, if not hours, ago. That, and a congested mempool with transacting costs to compound, means a significant source for bitcoiners’ amusement is now a thing of the past.
Steam Is No Longer Supporting Bitcoin
A division of Valve Corporation, a Pacific Northwest US video game developer, the company has been around for more than a decade. It ranks routinely on Alexa in the top 200 sites in the world. It is the largest gaming retailer of its kind in the US and Europe.
“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,” the post complained.
Steam began accepting bitcoin back in Spring of 2016 in conjunction with Bitpay…