Bitcoin can no longer be used to purchase products in Steam

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Bitcoin can no longer be used to purchase products in Steam, Valve announced today. The reason is because of the value that tends to be unstable and the cost of expensive transactions.

"In the past few months, we have seen an unstable Bitcoin value and a significant increase in costs for processing transactions on the Bitcoin network," Valve wrote in a post on Steam.


"The transaction costs paid by customers on the Bitcoin network have risen sharply this year, close to US $ 20 per transaction last week compared to US $ 0.2 per transaction at the beginning we allow the use of Bitcoin.
 
Valve has no control over the cost per transaction. The cost of purchasing games using Bitcoin is very high. The high transaction costs cause bigger problems when the Bitcoin price itself drops drastically. "
 
Valve said the level of instability in the value of Bitcoin became extreme in recent months, the value dropping to 25 percent in just a few days. "The digital currency also has a very high value this week, reaching US $ 12 thousand per Bitcoin, up US $ 1 thousand in just 24 hours. 
 
"When buying in Steam, subscribers will send Bitcoin a number of X, for games purchased, plus Bitcoin a Y amount to cover the transaction costs demanded by the Bitcoin network," Valve said.
 
Bitcoin's value is guaranteed for some time, so if the transaction is not completed within the period, then the amount of Bitcoin needed to pay will change. A recent increase in the value of Bitcoin may cause a significant price difference.
 
"Currently, we can not support Bitcoin as a payment method," Valve said. "We may be re-evaluating whether Bitcoin is suitable for use by us and the Steam community in the future."

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