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Steam payment headaches grow as PayPal is no longer usable for much of the world: Valve hopes to bring it back in the future, 'but the timeline is uncertain' (www.pcgamer.com)
submitted 1 year ago by to c/technology@lemmy.world
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[–] 1 point 1 year ago (1 child)

It was the support cost as far as I remember. Way too many people were too confused about how Bitcoin works.

Volatility was not the concern, at least for Valve. They've utilized a payment gateway that just swapped the BTC to USD right away. Which was still a single point of failure, but in case of bitcoin, the company switching a payment gateway does not affect the UX for the customer as much.

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  • [–] 2 points 1 year ago*

    The problem was the artificially congested network causing unreliable transactions that would take too long which would make the price too volatile. Additionally fees were getting ridiculous when they stopped accepting them due to this congestion

    That led to too many refunds or failed payments or payments that were no longer sufficient.

    That resulted In a customer service nightmare.

    All of those problems can be avoided today using a stable coin not on the bitcoin network.

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