Science

Steam No Longer Accepts Bitcoin

Steam No Longer Accepts Bitcoin

Gaming and entertainment platform Steam on Wednesday announced it would no longer support bitcoin as a payment method, citing expense in addition to market uncertainty. For example, when Steam first partnered with the company, transaction fees via Bitcoin were at roughly $0.20 whereas now the transaction fee stands at nearly $20 per payment.

Valve has no control over Bitcoin fees and laments over the 'unreasonably high costs for purchasing games when paying with Bitcoin'. That may sound like an improbable scenario but as Coindesk reported earlier today, Bitcoin's value recently surged by more than $1000 in just 24 hours-and Valve said that "we've seen increasing numbers of customers get into this state" this year. Bitcoin values are only guaranteed for a certain window of time, and if for some reason a transaction isn't completed within that window, the amount required to complete the purchase can change.

If a transaction times out, Steam has previously refunded the user, or asked for further bitcoin to cover the transaction - however both cases result in additional fees charged by the network. Being able to load "Steam Wallets" with bitcoin would be beneficial for people in China, Brazil, and India who may lack "traditional payment options like credit cards", BitPay said at the time. "This creates a problem for customers trying to purchase games with Bitcoin".

'Westworld,' Among Other TV Shows, Shuts Down Production Amid So Cal Wildfires
HBO has suspended filming for one of its shows in southern California over safety concerns about wildfires raging in the area. The story adds, "In addition, production on CBS drama S.W.A.T. has also been temporarily halted due to the fires".

While it is pulling the plug on accepting the cryptocurrency for now, Valve isn't ruling it out completely, with it concluding the blog post saying that it may "re-evaluate whether Bitcoin makes sense for us and for the Steam community at a later date". Ideally, the value of Bitcoin would remain stagnant from the transaction's start to its finish, but recent jumps in the currency's volatility mean that the Bitcoin value of a purchase can rapidly change before some transactions are able to finish.

Steam has not ruled out accepting Bitcoin payments in the future. Valve's move was part of a larger acceptance of the digital currency, which is now accepted by more than 100,000 merchants worldwide, including Microsoft, Dish and Subway. Steam did not return a request for comment by deadline, and its announcement did not say how long it has been accepting bitcoin. This in turn runs the risk of under/overpayment again should the value of Bitcoin change and can result in yet another transaction needing to be performed.


  • As Fires Spread Across Los Angeles, Museums and Galleries Close

    As Fires Spread Across Los Angeles, Museums and Galleries Close

    The Skirball Fire is in mostly residential areas causing evacuation, and UCLA students were given the option to go to class. Wind speeds could increase in the coming days, reaching as much as 60 miles per hour through Thursday, officials said.
    Creek Fire Chars Nearly 11400 Acres in Sylmar

    Creek Fire Chars Nearly 11400 Acres in Sylmar

    Herjit Sing sheds a tear after being evacuated from his home on La Tiera Way during the Creek fire on Tuesday, Dec. 5, 2017. But by early afternoon, the eastern border of the evacuation area had been enlarged to the Haynes Canyon area.
    Osmania University Students Protest After Student Hangs Himself in Hostel

    Osmania University Students Protest After Student Hangs Himself in Hostel

    We students are extremely sorry for the death of Osmania University's Murali, who took the extreme step of suicide. Murali - reportedly a physics topper - was a first-year student of MSc in the university.
  • Roger Goodell Signs New Contract Extension

    Roger Goodell Signs New Contract Extension

    Coincidentally, Jones started griping when Goodell suspended Dallas running back Ezekiel Elliott six games for domestic violence. Goodell previously made around $40 million a year, depending on how many incentives the leagues achieves in any given season.
    Reversible emojis might be coming to our devices soon

    Reversible emojis might be coming to our devices soon

    In addition to reversible emoji, the proposed guidelines also contain a slew of other proposed emoji that make great candidates. This includes a swan, a pirate flag, a party face , faces with no/afro hair, superheroes, a bagel, and a firecracker.
    Ultimate Software in top 10 on Glassdoor's 'Best Places to Work'

    Ultimate Software in top 10 on Glassdoor's 'Best Places to Work'

    Workers looking to make a job change in the year ahead would do well to consider a gig with one of these companies. E&J Gallo Winery of Modesto was chosen as one of the best places to work in a recent survey.
  • Hackers Hold Local Government Computers for Ransom and Demand Two Bitcoin

    Hackers Hold Local Government Computers for Ransom and Demand Two Bitcoin

    County Manager Dina Diorio first confirmed to reporters Tuesday night that county 30 servers were being held for ransom. Some website functions still weren't working, and a county spokesman said he couldn't release any further information.
    How pollution cancels cardiovascular benefits

    How pollution cancels cardiovascular benefits

    That should allow everyone to be able to enjoy the health benefits of physical activity in any urban environment". A study has shown that walking around heavily polluted areas could reduce the positive impacts of exercise .
    Mueller's Russian Federation  probe has cost millions - DOJ

    Mueller's Russian Federation probe has cost millions - DOJ

    None of Trump's outstanding debt comes from Deutsche's corporate side-the part of the bank that lends to most corporate customers. When approached about the Dowd comment, the person familiar with the matter reiterated that the bank had received a subpoena.
  • Earthquake measuring 5.5 hits Uttarakhand's Rudraprayag district, tremors in north India

    Earthquake measuring 5.5 hits Uttarakhand's Rudraprayag district, tremors in north India

    According to reports, medium intensity tremours were felt in Gurgaon, Noida and adjoining areas of Delhi for almost three seconds. As per the reports, the strong tremors have also felt in Punjab and Haryana.
    Tag Team Match Set For WWE Clash of Champions

    Tag Team Match Set For WWE Clash of Champions

    They are then informed that Rusev & English have been added to the match. The Bludgeon Brothers hit their finisher and got the pin. Baron Corbin by DQ after Dolph Ziggler interferes.
    Disney on verge of $60 billion deal with 21st Century Fox

    Disney on verge of $60 billion deal with 21st Century Fox

    At present, Disney now own the rights to the Marvel Cinematic Universe and Fox own the X-Men and Fantastic Four franchises. Negotiations are said to include Fox's movie and cable networks and global divisions, including Sky .