Bitcoin hit a snag on Dec 7 as the largest online gaming shop in the US and Europe said it will no longer accept the cryptocurrency as a source of payment because of its high transaction fees and volatile price.
Valve Corp’s Steam, the video game platform, said allowing Bitcoin payment has become “untenable” as surging fees have resulted in high costs for buyers, while massive price swings during purchases can result in “significantly different” prices. Fees reached about US$20 (RM81) per transaction last week, compared with about 20 cents when bitcoin was first enabled, the company said in the statement.
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