Steam suspends Bitcoin support due to high fees

07 Décembre, 2017, 02:13 | Auteur: Therese Cote
  • Steam suspends Bitcoin support due to high fees

"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 20 cents when we initially enabled Bitcoin".

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.

And Bitcoin's value has gone through some massive swings recently. With Valve unable to control these blockchain-linked costs (passed on from third-party Bitpay), the company anxious that it was leading to "unreasonably high costs for purchasing games when paying with Bitcoin" (though apparently these are costs Bitcoin users as a whole have been willing to shoulder of late). Fee's have risen in recent days, costing more than $20 United States dollars in order to cash in. Due to the constantly rising and falling of value and ever-increasing transaction fees, users will no longer be able to purchase games or add funds to their Steam wallets using the popular cryptocurrency. But it is not a steady ascent. After crossing the $11,000 mark for the first time a week ago, the currency lost 20 percent of its value in one day. However, the Bitcoin Cash fork, which was created in August and allows for a greater volume of transactions, could give us a glimpse into whether these concerns are merited. "With the transaction fee being so high right now, it is not feasible to refund or ask the customer to transfer the missing balance (which itself runs the risk of underpayment again, depending on how much the value of Bitcoin changes while the Bitcoin network processes the additional transfer)", Valve wrote. But transactions can often take longer than the Bitcoin Network guarantees the value of the currency. "This year, we've seen increasing number of customers get into this slate".

La mise à jour 1.8 Résistance est disponible sur The Division
Les joueurs doivent coopérer et trouver la meilleure stratégie pour survivre aux vagues et obtenir de meilleures récompenses. Elle comprend une extension de la carte avec une nouvelle zone accessible à tous les joueurs: le West Side Pier .

Vidéo - #SoyonsHumains : un hashtag pour les sans-abris
Des dispositifs anti-SDF dénoncés par la Fondation Abbé Pierre et Emmaüs Solidarité, dans une campagne lancée mercredi 6 décembre.

Un énième détracteur d'Unai Emery vient à son tour le critiquer — PSG
Parmi les plus virulent détracteurs du technicien espagnol se trouve en première ligne Frank Leboeuf , champion du monde en 1998. Une équipe type s'est clairement dégagée depuis le début de la saison et l'entraîneur parisien en varie assez peu.

In the case of rapidly changing value, offering customers refunds posed a problem for Valve. Besides, very few people user Bitcoin for everyday transactions because of the very slow processing speeds and high fees involved per transaction. But it says that it's not done with the digital coin for good.

Valve might be backing out of Bitcoin support for now, but it said that it might revisit the issue and its impact on the company and the community in the future.

Conseillé:



Populaire

German prosecutors drop Muslim-preachers spy probe amid tensions with Turkey
Prosecutors dropped the probe because of insufficient evidence that backed allegations that they had spied for Ankara. . A second investigation into suspected Turkish spying on alleged Gulen supporters continues.

"Le public était le meilleur dopant de Johnny Hallyday" — Michel Drucker
L'année de ses 50 ans, Johnny Hallyday se produit trois soirs durant au Parc des Princes, les 18, 19 et 20 juin 1993. Ils ont débuté leurs carrières ensemble et se connaissaient depuis 53 ans.

Inclusión de Panamá en la lista negra es una acción 'discriminatoria', CCIAP
La Unión Europea (UE) adopta su primera lista 'negra' de paraísos fiscales , en la que incluye a 17 países y jurisdicciones, entre ellos, el polémico Panamá.

Plot to kill British prime minister May foiled
The men were arrested last week following a joint operation by MI5, the UK's counter-terrorism security service, and police. Officials said it was the 22nd foiled plot since March as hundreds of terrorist suspects remain under investigation.

Reprise partielle de l'entraînement pour Dembélé
L'ailier français Ousmane Dembélé , gravement blessé en septembre, a pris part à une partie de la séance collective du FC Barcelone ce mercredi.

IPL franchises will spend Rs 480-640 crore on players next season
So, if a franchise does not to directly retain any player, it will be allowed a maximum of three RTMs at the auctions. However, Rising Pune Supergiants and Gujarat Lions will not feature in the 11th edition of the tournament.

Sen. Al Franken's support fades as Democrats call for resignation
I am concerned that even a prompt Ethics Committee investigation and recommendations will not come soon enough. Al Franken of forcibly trying to kiss her - this time after a taping of his radio show in 2006. "It shrunk me.

"Real Madrid have not been in touch regarding Icardi" — Inter
Icardi has four years still left on his contract but the club are worried that the current £96 million (131m euros) release clause is too low.

Theo Walcott Could Be Set For Premier League Switch, Next Month
Wenger is planning to raise funds for his transfer kitty by offloading a number of fringe players over the next eight-months. Now, with the addition of Lacazette, it seems as if Walcott's time in North London is coming towards an end.

Beyoncé surprises Colin Kaepernick with Legacy award
She also explained why the former 49ers quarterback was the ideal person to take the award home this year. SI announced Kaepernick would be the recipient of the award last week.