Wenatchee Valley College - CTS Discussion Board

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12/07/2017 8:51 am  #1


Steam is no longer accepting Bitcoin.

This is  not so much for the security class as it for the computer club.

http://www.ign.com/articles/2017/12/07/steam-is-no-longer-accepting-bitcoin

Steam Announced today ,after Bitcoin value rose $2000 in just 12 hours( $16625,01/bc), that they no longer support bitcoin as a payment option, "Due to high fees and volatility in the value of Bitcoin."
Steam reported that transaction fees charged to the customer by Bitcoin network have topped $20 per transaction. This and the fact that the bitcoin price is so volatile. Bitcoin has always been volatile, but the degree of volatility has become unsustainable in the last few months.
The value of bitcoin is only guaranteed only for a certain amount of time. If the transaction is not completed in this time, then the amount of Bitcoin need for the transaction can change. Steams resolution is to refund the customer or create another transaction that will result in another $20 transaction fee paid for by the customer.
Valve has seen more customers in this situation and has removed Bitcoin as a payment option.
Valve may re-consider whether Bitcoin could return as a payment option at a later date.


 

 

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