Valve have announced they are dropping Bitcoin as a payment option on Steam. The reason for this decision was due to the high-levels of instability in value (It’s gone from $10K to $12K in 1 week), and high transaction fees.
Valve said in the post..
“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. 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 $0.20 when we initially enabled Bitcoin).”
