Steam No To Bitcoin
Steam no to bitcoin for now, because of it’s volatility and high transfer fees valve steam decided to remove bitcoin from their payment option. Valve announcement December 6, 2017 that cause many of their buyers suggest to use other cryptocurrency such as ethereum or dogecoin.
To elaborate on the high fees valve is referring, when they first enable bitcoin the customers fee was only $.0.2 but now because of the high price of bitcoin and it is completely changing the fee for transfer is $20. They don’t want bitcoin now because of the high fee of transfer and the length of time for the transfer complete.
Bitcoin always change it’s price. One day the price losses $2,000 the next day gains $2,200 just like what happens in the last few days. Bitcoin is in the state where it will change it price because a lot of people in the community is starting to know what bitcoin is, what it can do, and what is it for.
Bitcoin owners who want to use their bitcoin to purchase on steam need not to worry, because according to the steam blog they will evaluate if bitcoin makes sense for them (valve) and for the Steam community at a later date.
The idea of steam will not work because some the game to be purchase has lower price than the transfer fee. If they want bitcoin to work they should consider bulk game purchase. They should group their games and get a minimum set price for bitcoin.
Another idea is choose another cryptocurrency like dogecoin which is not volatile and the transfer fee is very low. Dogecoin is also fast to transfer from the sender to the receiver would only take couple of minutes. Ethereum can also be use, it is fast to transfer and can easily be acquire online. But the minimum amount of transfer of ethereum is 0.001 which is very high.