Steam no longer accepting Bitcoin

Valve's Steam, the largest digital video game store, announced today that it is no longer accepting Bitcoin, citing $20 transaction fees and long delays. Steam's acceptance of Bitcoin starting in early 2016 was heralded as proof that Bitcoin was beginning to gain traction as an online currency for digital goods. Over time, the narrative has shifted from Bitcoin as digital cash to Bitcoin as digital gold, arguing that it is a better store of value than means of value transfer. This may be a valid argument, but in my book transactions are a direct indication of usage, so it is better to have transactions increase as opposed to decrease. 


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