BTC removed from steam for high fees

shamzblueworld

hero member

Activity: 714

Merit: 500

Quote from: bitcoinfuck on December 09, 2017, 05:49:25 AM

btc is becoming pain for small transaction

BTC is more like asset, rather then a currency to be used daily.

ETH is the best currency as transaction is done quickly

Of course with the value of bitcoin keep going higher, its gonna be impossible to transact or spend small amounts of bitcoin.

Hence the popularity of alts.
Eth is just one option, I think others may rise up to solve this exact problem.

Mike Mayor

hero member

Activity: 966

Merit: 535

Quote from: Ultegra134 on December 09, 2017, 06:21:03 AM

Quote from: zenhu on December 09, 2017, 05:54:57 AM

Quote

btc is becoming pain for small transaction

Exactly, thats why i used alt.

Quote

BTC is more like asset, rather then a currency to be used daily.

aint nobody want to pay coffe worth 5 usd and pay the fee with higher price

Quote

ETH is the best currency as transaction is done quickly

almost true but im not 100% agree, i mean this several days transaction eth have almost 18k pending transactiion daily.

Haven't head about Steam removing BTC as a payment method but it was expected with such high fees. As you've said, ain't nobody going to pay for something of low value when the fees cost more than the product. BTC is becoming more like an asset, it's unprofitable to use it daily.

Yes steam is removing btc as payment and you really can't blame them. People are not using btc properly. I got into Bitcoin because I thought it was cool and fun and so easy to be able to pay online like this. I use Bitcoin to buy things often. The problem is too many people see it as an asset rather then s currency. I see it as both.

I also agree with the other guy. Using eth and tokens is the way to go for smaller transactions. Places that accept bitcoin should start accepting other coins or tokens too.

Boseda

sr. member

Activity: 448

Merit: 250

Quote from: bitcoinfuck on December 09, 2017, 05:49:25 AM

btc is becoming pain for small transaction

BTC is more like asset, rather then a currency to be used daily.

ETH is the best currency as transaction is done quickly

Yes, Bitcoin has becomed unasable for small transactions and it has becomed an asset. I'd say, unfortunately...

ETH is not viable as well. Look what happened these days with all those cryptokitties bullshit. Congested network, high fees and long confirmation time!

TheBitcoinBoy

full member

Activity: 236

Merit: 100

BTC should be removed from other platforms as well.

vv181

legendary

Activity: 1932

Merit: 1273

Quote from: bitcoinfuck on December 09, 2017, 05:49:25 AM

btc is becoming pain for small transaction

High transaction fees and volatility that what make Steam abandon Bitcoin. True micro-payments for Bitcoin only a dream for now. There’s quite a bit more complexity to making these work. Good things is I saw an article today about how Bitcoin lightning network has a functioning prototype. But its only a prototype so probably at least a one or a couple years away from building all the requisite infrastructure and developer tools.

Quote from: bitcoinfuck on December 09, 2017, 05:49:25 AM

BTC is more like asset, rather then a currency to be used daily.

Well, from my perspective i see Bitcoin as assets rather than a currency.

Quote from: bitcoinfuck on December 09, 2017, 05:49:25 AM

ETH is the best currency as transaction is done quickly

Agree, Ethereum is one of others altcoins that has a quick transaction time.

allanr

full member

Activity: 345

Merit: 114

i wondering can we have solution for that, and ah i guess forking and make another copy of bitcoin so the fee is cheap. but thats not bitcoin like i want. i mean i still want the 15k usd bitcoin price with under 10 usd fee, not new coin have cheaper price and cheaper fee Grin

hv_

legendary

Activity: 2520

Merit: 1055

Clean Code and Scale

Quote from: carlfebz2 on December 09, 2017, 06:54:36 AM

Quote from: bitcoinfuck on December 09, 2017, 05:49:25 AM

btc is becoming pain for small transaction

BTC is more like asset, rather then a currency to be used daily.

ETH is the best currency as transaction is done quickly

Ive been already expecting this thing to happen when bitcoin is still on lower price state which it can still handle transactions and now suddenly price have shoot up and transactions been piled up and now network is congested and miners cant able to handle it in a short time which would really cause huge delays the same time fees would shoot up because miners will priority those who do set higher fees.This is why I suggest for micro transactions better to wait to let the congestion passed up before making any transaction.

Its not that 'miners cannot handle'. ETH and BCH can handle lot more.

carlfebz2

hero member

Activity: 2926

Merit: 722

Quote from: bitcoinfuck on December 09, 2017, 05:49:25 AM

btc is becoming pain for small transaction

BTC is more like asset, rather then a currency to be used daily.

ETH is the best currency as transaction is done quickly

Ive been already expecting this thing to happen when bitcoin is still on lower price state which it can still handle transactions and now suddenly price have shoot up and transactions been piled up and now network is congested and miners cant able to handle it in a short time which would really cause huge delays the same time fees would shoot up because miners will priority those who do set higher fees.This is why I suggest for micro transactions better to wait to let the congestion passed up before making any transaction.

hv_

legendary

Activity: 2520

Merit: 1055

Clean Code and Scale

Quote from: dothebeats on December 09, 2017, 06:45:30 AM

Personally I wouldn't use bitcoins for transferring assets quickly and cheaply. Right now there are other alternatives for that. I completely agree that bitcoin is nothing more of an asset today unless LN proved its efficiency and practicality in the market. It might change the game once more for bitcoin but for now, bitcoin is nothing more than an asset and investment.

LN can fix very special issues and is still vaporware, needs years like bitcoin to prove stability and usability.

Telling everybody this fixes bitcoin is not sustainable.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

Personally I wouldn't use bitcoins for transferring assets quickly and cheaply. Right now there are other alternatives for that. I completely agree that bitcoin is nothing more of an asset today unless LN proved its efficiency and practicality in the market. It might change the game once more for bitcoin but for now, bitcoin is nothing more than an asset and investment.

Kayeshlyn

full member

Activity: 294

Merit: 112

Bitcoin price is getting higher and higher in the next few days, same as transaction fee. Nowadays, sending payment worth 10$ and the cost more likely about 5$. No one will ever done that. I mention out.

Ultegra134

hero member

Activity: 1582

Merit: 758

Quote from: zenhu on December 09, 2017, 05:54:57 AM

Quote

btc is becoming pain for small transaction

Exactly, thats why i used alt.

Quote

BTC is more like asset, rather then a currency to be used daily.

aint nobody want to pay coffe worth 5 usd and pay the fee with higher price

Quote

ETH is the best currency as transaction is done quickly

almost true but im not 100% agree, i mean this several days transaction eth have almost 18k pending transactiion daily.

Haven't head about Steam removing BTC as a payment method but it was expected with such high fees. As you've said, ain't nobody going to pay for something of low value when the fees cost more than the product. BTC is becoming more like an asset, it's unprofitable to use it daily.

legend2017

full member

Activity: 252

Merit: 100

Quote from: bitcoinfuck on December 09, 2017, 05:49:25 AM

btc is becoming pain for small transaction

BTC is more like asset, rather then a currency to be used daily.

ETH is the best currency as transaction is done quickly

I agree with such a commission carrying out frequent transactions do not want to. Loss can be quite a large amount, if the transaction is estimated by the commission of 20 dollars. Alts is the future, I have long been there and waited a long time for the increase in demand and prices for them.

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

Quote from: bitcoinfuck on December 09, 2017, 05:49:25 AM

ETH is the best currency as transaction is done quickly

true about bitcoin only these days.
but about this, i should tell you that you have been fooled by their sales pitch because ETH is even worse than bitcoin when it comes to processing large number of transactions. you have not been experiencing it so far because nobody used ETH.

but now that more are using it, the issues are surfacing and people are realizing it was all a hoax!

pootutus

member

Activity: 156

Merit: 10

I agree with all the above three points you say. These days ETH transaction costs are very high, is this transaction cost to catch up with BTC? I think the most important problem that BTC and ETH are going to solve now is the transaction cost. Only the cost of the transaction is reduced, and more people will use it.

bitcoinvamp

full member

Activity: 182

Merit: 100

Quote from: bitcoinfuck on December 09, 2017, 05:49:25 AM

btc is becoming pain for small transaction

BTC is more like asset, rather then a currency to be used daily.

ETH is the best currency as transaction is done quickly

Yeah you are absolutely right on this. the mining fees has increased to a great price and its really difficult to do small transaction as sometimes the transacted amount is less and the fees is more. Compared to BTC transaction ETH is really good. But, i would like to say that as the price is increasing so are the sell out transactions , due to which the mining fees has increased , that is what i think.

zenhu

sr. member

Activity: 645

Merit: 266

Quote

btc is becoming pain for small transaction

Exactly, thats why i used alt.

Quote

BTC is more like asset, rather then a currency to be used daily.

aint nobody want to pay coffe worth 5 usd and pay the fee with higher price

Quote

ETH is the best currency as transaction is done quickly

almost true but im not 100% agree, i mean this several days transaction eth have almost 18k pending transactiion daily.

bitcoinfuck

full member

Activity: 634

Merit: 106

Europe Belongs To Christians

btc is becoming pain for small transaction

BTC is more like asset, rather then a currency to be used daily.

ETH is the best currency as transaction is done quickly

Topic: BTC removed from steam for high fees (Read 268 times)