Steam To Stop Supporting Bitcoin Transactions

[dkasak]

I'm shocked! No, no, wait ... that's not the perfect word for it. I'm totally VALIDATED by this decision to "quit while the quittin's good". What a bubble! As someone who recreational drugs from time to time, I see absolutely no value in Bitcoin or any other cryptocurrency, except for tax dodgers. And they can go get f*****d.

[boltronics]

That's sad, but understandable. Transaction fees alone can cost more than some games. Hope they accept one of the alt coins soon. Monero would be awesome.

[Ikaris]

Well, between that and the NiceHash hack, today is a bad day for bitcoin.

[IreMinMon]

In spite of the fact that blockchain is a good idea, bitcoin as a replacement for money is actually a bad idea, expensive and an energy hog. Absolutely unsustainable. Compare it to the cost of each electronic transaction with a credit card.

You've got different cryptocurrencies you know.
You can make a cryptocurrency without any transaction fees whatsoever.

[IreMinMon]

Bitpay's website has a little Steam logo at the bottom, so I'd guess they were handling that for Steam, rather than them doing it themselves.

I paid for a few games with BTC, they use BitPay.

[starshipeleven]

Anonymous money transactions are good for criminals and scammers. Everyone else should prefer transparent, traceable transactions.

Bitcoin is more transparent and traceable than current credit card and bank information. As long as you know the account ID you can track all his transactions in real-time.

https://darkwebnews.com/bitcoin/denmark-bitcoin-traced-drug-dealer-arrests/

[starshipeleven]

I'm sorry, but did you think of simple food stores like the ones here? (I'm on a developing country) You only request the product, pay, and it's yours. You don't have to tell the vendor your name, address or phone number and he doesn't ask you for such information.

That's for tiny amounts of money.

In many first-world countries (in EU at least) you can't pay cash (say with physical money in a bag) for relatively large sums of money (actual limits vary depending on local law), like for example to buy a new car or something else in the 10'000 euros range (or more)

[carewolf]

Wallet to wallet transactions shouldn't cost anything. Or do you mean energy consumption for mining?

Mining is part of doing bitcoin transactions. Which makes bitcoin transactions increasingly slow and expensive.

[carewolf]

That's for tiny amounts of money.

In many first-world countries (in EU at least) you can't pay cash (say with physical money in a bag) for relatively large sums of money (actual limits vary depending on local law), like for example to buy a new car or something else in the 10'000 euros range (or more)

Yes you can. That is the only reason the €500 bill still exists and hasn't been killed off yet. It is used by too kinds of people, criminals and old Bavarians paying cash for cars.

[LostinSpacetime]

Anonymous money transactions are good for criminals and scammers. Everyone else should prefer transparent, traceable transactions.

If you want to be truly transparent, you can give someone the public key of your Bitcoin Wallet.. if you have one. When using Fiat money only your Bank has the data of your transactions.