Valve removes Bitcoin payment option from Steam

[HEXUS]

Cryptocurrency value volatility ($15K today) and high transaction fees are to blame.

Read more.

[EvilCycle]

The cracks begin to show.

At the same time though bitcoin in itself still has a LOT of growing to do before it crashes, I can see it hitting anywhere between £50,000 - £300,000 before demand falls flat.

Tulip bulbs anyone?

[peterb]

At the same time though bitcoin in itself still has a LOT of growing to do before it crashes, I can see it hitting anywhere between £50,000 - £300,000 before demand falls flat.

Can you post a link to your Crystal Ball supplier please?

[kalniel]

Can you post a link to your Crystal Ball supplier please?

Crystal something, at least

[EvilCycle]

Yes it is some outlandish speculation I am not a complete nutter, but there are some calculations involved in my guesswork, previous market crashes against items with similar hallmarks to bitcoin together with the comparison of the worth of gold vs availability has brought me to those figures.

I won't go as far as saying crypto currencies and block chains will never work, but I truly believe bitcoin in itself is setting up for a car crash after some more growth.

[Millennium]

The transaction fees were up to $20 (as was probably mentioned in the linked article) no-one would buy even a $50 game with a $20 transaction fee unless they had money to burn.

I can see Bitcoin hitting maybe $17k (possibly as Evil Cycle says a lot more) but the government regulation, co-option and inevitable crash will come. How big and bad it is is anyone's guess. I should probably invest in it but I don't like it environmentally so I will likely refrain.

[j.o.s.h.1408]

So a single bitcoin is worth 17k?

[aidanjt]

So a single bitcoin is worth 17k?

It was yesterday, down to around $14k now.

[pp05]

Yes it is some outlandish speculation I am not a complete nutter, but there are some calculations involved in my guesswork, previous market crashes against items with similar hallmarks to bitcoin together with the comparison of the worth of gold vs availability has brought me to those figures.

I won't go as far as saying crypto currencies and block chains will never work, but I truly believe bitcoin in itself is setting up for a car crash after some more growth.

Tulips have a shelf-life. Bitcoin can be traced forever. As long as there is electricity and the internet.

[TheAnimus]

Tulips have a shelf-life. Bitcoin can be traced forever. As long as there is electricity and the internet.

Tulips I would argue are more viable than using so much electricity to mine something.

[Xlucine]

You can mine more tulips by burying the bulbs and leaving them alone, which you can't do with bitcoin