Your money’s no good here.
Do you use Bitcoin? Well, guess what? It’s no longer usable on Steam.
Valve announced that they’d be dropping support for Bitcoin in a blog post Wednesday. To put it bluntly, it’s because the market for the currency is incredibly volatile:
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. When checking out on Steam, a customer will transfer x amount of Bitcoin for the cost of the game, plus y amount of Bitcoin to cover the transaction fee charged by the Bitcoin network. The value of Bitcoin is only guaranteed for a certain period of time so if the transaction doesn’t complete within that window of time, then the amount of Bitcoin needed to cover the transaction can change. The amount it can change has been increasing recently to a point where it can be significantly different.
What a shocking surprise. An incredibly volatile cryptocurrency backed by nothing fluctuates wildly in value? It’s almost like it’s not worth the hassle for actual businesses to deal with it.
~I laughed every time Almost Human mentioned Bitcoin~
Source: Gizmodo
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