Steam Announce They Will No Longer Support Bitcoin

As the price of Bitcoin reaches its most vertigo-inducing figure to date, few in the space would consider giving up a portion of one of their coins for something as trivial as a computer game. I mean, digital cats are one thing, but the latest Call of Duty, or Fifa? Nah, better hold onto those precious satoshis to see if super-bull John McAfee is even half right with his million dollar price call. It’s just as well that the majority of folks are well and truly in the hold camp too as online video games market Steam has announced that they will no longer accept Bitcoin for use as a payment method.

The platform, which is by far the most popular way to buy new games for the PC, announced Wednesday that they were ceasing all payments using Bitcoin. In a statement on their website, they claimed that with the current volatility in price, it was difficult to use the world’s best performing cryptocurrency in a business sense:

“Historically, the value of Bitcoin has been volatile, but the degree of volatility has become extreme in the last few months, losing as much as 25% in value over a period of days. This creates a problem for customers trying to purchase games with Bitcoin. When checking out on Steam, a customer will transfer x amount of Bitcoin for the cost of the game, plus y amount of Bitcoin to cover the transaction fee charged by the Bitcoin network. The value of Bitcoin is only guaranteed for a certain period of time so if the transaction doesn’t complete within that window of time, then the amount of Bitcoin needed to cover the transaction can change. The amount it can change has been increasing recently to a point where it can be significantly different.”

It’s understandable from a business point of view. If you were to transfer around $20 of Bitcoin to the website for a game, and it takes two hours to confirm on the network, that’s enough time for the value of the BTC sent to be radically different by the time Steam can do anything with it. Naturally, as they’re trying to run a business, rather than an investment fund, this is problematic.

Steam cited another reason for their revoking of Bitcoin services too: the high cost of transactions. It’s understandably difficult to get someone to voluntarily send a payment if a large percentage of said payment needs be included as a fee. The increase in interest in Bitcoin has led to a situation where users are forced to up their fees to get the network to recognise and process their transaction.

This leads to an interesting dichotomy. Do you include a large fee, and pay way over the odds for the goods or service you’re buying but at least you’ll ensure that the value will be more likely to be correct when it arrives with the vendor? Or, do you scrimp on the fee, and risk the value of what you send being completely mismatched with the initial price? It’s understandable that these issues are causing difficulties to vendors such as Steam.

Steam didn’t completely dismiss Bitcoin, however. They did concede that if the volatility calms down, and transaction fees lower, they would consider reintroducing the payment method. For now, however, it remains more problematic than convenient to include it. Therefore, Steam users must revert to using more traditional payment methods. Let’s face it anyway, it makes a lot more economic sense to use a currency that is guaranteed to lose value (like the dollar) for day to day purchases, whilst saving that super-rare digital gold for a rainy day?



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RxEAL, a new platform for secure rental deposit storage on Ethereum blockchain, has just launched its token presale.  RxEAL aims to solve the problem of the growing number of security deposit disputes, by providing a simple way to create smart contracts and offering a decentralised dispute resolution. Currently, the company’s main focus is on real estate and automotive rental markets. The token presale will remain open to investors until the 31st of December 2017; the actual ICO will start on the 31st of January and will last until the beginning of March.


More people than ever before are involved in real estate, car and other rental transactions, resulting in more disputes about security deposits every year. A significant amount – almost 50% – of all security deposits globally are subject to disputes that destroy value for everyone — both lessors and their lessees. 6,000,000,000 EUR are annually lost due to disputes in the UK alone.

“Our mission with RxEAL is to have a world where no security deposit is disputed. To create more value for shareholders of lessors and also benefit the lessees. Using blockchain technology, this can be done in a secure, simple and accessible way,” says Dmitris Orlovs, co-founder and the head of business strategy of RxEAL.

The RxEAL platform is a solution for eliminating the growing number of fraud cases in rental transactions associated with unfair withholding of funds from the security deposit at the end of the rental agreement. Within the RxEAL platform, users are able to generate smart contracts based on terms both parties have agreed on. The contract will ensure that the deposit amount would be stored securely on Ethereum blockchain throughout the course of the agreement. In the event of a dispute, the platform will provide a decentralised and independent arbitrage conducted by qualified members who earn RxEAL tokens for resolving the dispute. The RxEAL approach eliminates the possibility of breaching the contract terms, hence solving the issue of trust associated with rental deposits.


With many new ICO projects emerging and many not making it to the top, industry experts say that RxEAL is an accessible future solution, which is understandable and realistic enough to consider investing in it.


Janis Murmanis, partner at Timbero Latvia Ltd construction company, is convinced that: “This is an innovation for the industry that is in a constant need for upgrades and solutions to resolve long-standing problems, from which one of the biggest is, in fact, deposits. RxEAL is simple and accessible in its mechanics, which makes it the latest way to profit from the always-great real estate industry,”

To find out more, visit the RxEAL official website:


Presale: December 4th, 2017 at 12:00 UTC
Presale ends: December 31st, 2017 at 12:00 UTC or upon reaching the presale cap.

*Presale participants can buy RXL tokens with 100% bonus at a fixed rate of 0.00125 ETH.

Start date: January 31st, 2018 at 12:00 UTC
End date: March 2nd, 2018 at 12:00 UTC or upon reaching the token sale hard cap.

Extending the virtues of decentralization to universal freelance empowerment where employers place a much higher emphasis on technology and automation, rendering the traditional work schedule nearly obsolete is providing more convenient and effective service delivery processes across the globe.

Working from everywhere

Companies hire people from all over the world while maintaining operational efficiencies and reducing costs. The digital world allows for a company to hire a software developer from Brazil, a user experience designer from England, and community manager from India. This is a major advantage to both parties: task performers are no longer bound by geographical location and task posters are able to hire from the global talent pool.

Even though the freelance marketplace has experienced huge adoption and the existing platforms enjoyed significant patronage, the current marketplace structure with is dominated by centralized platforms still leaves room for more convenient and effective services.

With companies like Fiverr, Taskrabbit, Upwork, and Mechanical Turk having their workforces distributed throughout the world, the setbacks that arise from transaction fees and relatively slow speeds of transaction leaves room for better developments and experiences.

A more effective system

Blockchain as a decentralized ledger whose functions are secure, transparent, fast and effective offers an unmatching solution that enhances the transaction and procedural performance of the global freelance ecosystem.

By using the STORM Token, StormX Inc in partnership with leading industry players such as QTUM, Jaxx, Kyber Network, ZenCash and Bancor is creating a platform that improves the efficiency and compatibility of the freelance marketplace, making it possible for anyone at anytime to earn from anywhere across the globe.

StormX, Inc. has a strong history of success amassing over 1 million downloads across 187 different countries through its application, Storm Play. The platform is powered by an underlying ERC-20 token that will facilitate transactions within an opt-in, secured, gamified marketplace, that will eventually be run by blockchain based smart contracts on Ethereum. These token are currently available to the public in a crowdsale which closes on December 7 2017.

A team that delivers

The performance and success so far of the STORM Token can be linked with a robust technology which is not only backed by established companies, but also enjoys the support of top industry experts in its advisory team. These experts include the likes of Bill Shihara of Bittrex, Anthony Di lorio of Jaxx & Decentral, Jeff Pulver of Voip Vonage and Tom Bollich of MadHive, among others.

Blockchain technology and decentralization continues to open up more opportunities, creating room for improved innovation empowerment of humankind. The use of tokens as tools for secure transactions and effective liquidity is a blessing that the world will appreciate for a very long time.

Storm Token ICO is finishing within the next day, so participants need to hurry.

As the western world wakes up to the potential of blockchain technology and more institutions recognize it, the countries of Asia remain skeptical. The Asian trading session is always a good indicator of how the rest of the day is going and today BTC surpassed $14,000 for the first time. Many nations of Asia including Japan, Korea, Singapore, and Thailand fully support and embrace Bitcoin and cryptocurrency. However, there are some that have opposing stances. China and Vietnam have clamped down on it and the latest to join them is Indonesia.

According to the Jakarta Post, Bank of Indonesia plans to regulate and prohibit Bitcoin transactions from 2018. Head of the transformation at the bank, Onny Widjanarko, said that e-currency regulation would be issued in the near future. “Currently, there is no single regulation for those who carry out transactions using Bitcoin,” he stated to the local press.

The central bank, which wields the power over the island nation’s financial affairs, is currently conducting a review to determine the status of digital currencies. The result would decide whether Bitcoin comes under existing e-money regulations or a separate system of legislation.

Widjanarko appealed to vendors and merchants not to accept Bitcoin transactions stating that it would not be held responsible for any losses incurred. He went on to state that Bitcoin could potentially be used to violate existing regulations on terrorism, money laundering, prostitution, and drug trafficking.

Indonesia joins the ranks of China, Russia, and Vietnam which have all regulated or banned Bitcoin completely. China’s now infamous September ICO ban caused the biggest crash in cryptocurrency this year. A number of exchanges were forced to close and investors had to find alternative methods to get their crypto-fix. Recently the People’s Republic has warmed a little and may re-open the gates for trading in digital assets, albeit highly regulated.

Russia also strives for more control and recently issued a warning to investors from its central bank claiming that cryptocurrencies are inherently risky. The rumor is that they are working on their own digital currency or crypto-ruble.

Many of the nations of Asia are traditionally autocratic and strive for control over democratic freedom. Indonesia’s decision, like that of Vietnam, sends a message to the population; we are in control. Thailand conversely, while still in the clutches of a draconian military dictatorship, remains open to cryptocurrencies and is even working with altcoin developers towards smart contract and blockchain solutions.


DASH continued to grind a bit lower during the trading session on Thursday, as we have reached towards the $650 level. Currently, I think it’s only a matter of time before we rally though, and a break above the $700 level would be a bullish sign. Until then, I will allow the market to simply build a bit of a base, and patiently await the buying signal as I have no interest in shorting.



Litecoin dipped a bit during the trading session on Thursday, but seems to have a bit of a floor underneath it. A break above the $102 level would be a very bullish sign. Until then, look at dips as opportunities to build a larger position for the longer-term move. $90 should offer a significant support level.


Thanks for watching, I’ll see you tomorrow.


Ethereum fell during most of the trading session on Thursday, but found the $400 level to be supportive enough to cause a bounce. By looking at the chart, I see a cluster of trading activity near the $430 handle, so move above there has been bullish of Ethereum again, looking to reach towards the $470 level, possibly even the $480 level. A breakdown below $400 would be very negative.



With Bitcoin making a new high every couple of hours, it’s not a surprise that this pair continues to fall. Simply put, every time this market rallies, it’s time to start selling again. The 0.03 level should be massive resistance, and at this point I don’t know where the bottom is.


Thanks for watching, I’ll be back tomorrow.


Bitcoin touched $15,000 during the trading session on Thursday and some exchanges, and when I look at this chart the first thing I think is how overbought it is. Another thing that concerns me is that the highest volume bars recently have all been negative. Because of this, I believe that we are approaching an area that will probably cause a significant pullback. If you already own Bitcoin, that’s one thing, but getting in now would be completely reckless. Wait for a pullback, probably several thousand dollars, before you can initiate a new position. Stop losses should be moved towards the $14,000 handle for those who are traders, and not investors.



Bitcoin of course has done essentially the same thing against the Japanese yen, touching ¥1.8 million during the trading session on Thursday. Currently, we are overbought by almost any metric you measure, so wait for a significant pullback, perhaps to the ¥1.65 million level before increasing your position, or starting a new one. In the meantime, if you are out of the market, that’s where you should stay.


Thanks for watching, I’ll be back tomorrow.

Bitcoin continues to dominate the news as prices nudged over $14,000 in Asian trading this morning, up almost $2,000 in 24 hours. The surge is likely to be off the back of news that the big boys are starting to entertain cryptocurrencies. JP Morgan switching tack and backing Bitcoin as the new gold and Nasdaq recently joining the fray has done wonders for BTC trading. The imminent launch of CBOE trading on December 10 and CME Bitcoin futures shortly after has also boosted price and market sentiment. In addition to this are a number of hard forks and the promise of the free equivalent coin that usually comes with them.

Getting lost among the hype are the altcoins, many of which remain undervalued. One such crypto asset that has gained over 20,000% this year alone is NEO, often referred to as Chinese Ethereum. NEO was rebranded from its previous incarnation, Antshares, back in August when price rocketed from around $8 up to almost $50 – in April it was still priced at $0.20. Since China’s ICO ban NEO fell slowly back to earth as most pump and dumps do and wallowed between $20 and $27 from September to November.

Many of the altcoins have enjoyed price spurts this week as the daddy Bitcoin has pulled them all up with it. Most can only be traded for in BTC on various exchanges that do not accept fiat which explains the often mirrored chart patterns. NEO jumped to as high as $40 but has now dropped back again to around $34 and is still falling. According to, it is the 14th largest cryptocurrency with a market capacity of $2.2 billion.

Da Hongfei, CEO of Onchain, and the founder of NEO isn’t worried. He has acknowledged that Bitcoin itself may be a bubble but says it is completely natural for emerging technologies and industries. The tech entrepreneur has big plans for NEO, many of which involve branching out from China. His vision of a ‘smart economy’ requires a platform that is already capable of integration with current systems and technology, which NEO apparently is. It is for this reason and its potential in the powerhouse that is the Chinese economy and beyond that crypto, analysts say that the coin is still undervalued.

With most of the current decentralized apps (dApps) being hosted on the Ethereum network, there is a competitive market for them which NEO aims to be a part of. A number of ICOs based on the NEO network are in the pipeline though it remains to be seen if the Chinese government will intervene again. There is an emerging market for dApps on both Ethereum and NEO and these are still very early days.

SophiaTX Token Generation Event (TGE) starts today, December 7th, at 2pm UTC (Coordinated Universal Time). Previously postponed due to the Ethereum network being clogged with digital kittens (that’s a whole other story in itself), SophiaTX’s TGE will happen today regardless of any Ethereum feline intruders.

The SophiaTX project is premised on an in-depth analysis of the technological capabilities of existing blockchains, to ensure a strategy and a platform which can truly add value and provide businesses with not only suitability, but genuinely superior functionality and features.

The resulting platform, and its focus on adoption by real businesses, is one of the most innovative advancements of blockchain into the way in which the businesses and their customers interact and how ecosystems are continuously re-defined by digital technology.

SophiaTX has taken every precautionary measure to make sure their TGE goes off without a hitch! Unlike other crowdfunding methods of this scale, SophiaTX has abided by the tightest regulations requiring KYC (know your customer) and AML (anti-money laundering) checks prior to participation. This ensures that all participants are indeed who they claim to be and protects everyone involved. There is an option for individuals as well as organisations to complete the KYC registration and partake in their TGE.

SophiaTX TGE landing page has detailed instructions for all participants and they’ve even created a simplified, step by step guide for anyone to follow. Their goal is to make this process as seamless as possible so that anyone who wants to participate can do so without an hassle or complication.

Interested parties can view the “why participate” page of their website which gives a nice summary pinpointing the important facts about their TGE. Some things to highlight include the following:

  1. SophiaTX TGE will have 5 rounds, approximately 48 hours each, for a total duration of 10 days. Every round has 30,000,000 SPHTX Tokens available, making a grand total of 150,000,000 SPHTX Tokens throughout the TGE.
  2. The starting price in the first round is 1 SPHTX = 0.00062789 ETH. Each subsequent round will have a small increase in price of 10%
  3. The hard cap for the entire TGE is set at 115,000 ETH and there is no soft cap nor is there a minimum amount for participants to contribute.
  4. Any unclaimed tokens which remain at the end of the TGE will be proportionally distributed to investors in line with their existing SPHTX stake.
  5. Participants can use BTC, ETH, or DCT. For DCT participants, they offer a 10% bonus. Conversion rates for these currencies are calculated by averaging the past 24 hours from 4 of the leading cryptocurrency market lists. (Cryptonator, &, Coinmarketcap and Cryptocompare).
  6. After their TGE, the SPHTX tokens will be distributed within 48 hours as an ERC20 Token sent to the participants ETH addresses. (participants must provide the same ETH address during KYC and TGE registration)

SophiaTX is open source and tailored to allow traditional enterprise applications to be extended to more robust, collaborative and decentralized blockchain-enabled business models.

“Integrating blockchain with SAP and other business systems allows businesses to deliver efficiencies, better collaborate along the value chain and even re-shape their business models,” explains SophiaTX CEO Jaroslav Kacina.

The SophiaTX team recently published a white paper and unveiled a working Proof of Concept demonstrating how businesses can use SophiaTX to transparently and reliably exchange information between their enterprise systems in real time.

About SophiaTX

SophiaTX is a blockchain platform and marketplace for businesses of all sizes, and the first open source platform to primarily integrate blockchain technology with enterprise applications such as SAP, Oracle, and others. 74% of transaction revenue worldwide touches SAP systems, and SophiaTX provides a business-appropriate blockchain for B2B collaboration and communication.

Not a week goes by without some Bitcoin mempool drama these days. Every week or so, the number of unconfirmed transactions rises. In most cases, that is a big problem, yet the matter usually gets resolved pretty quickly. In this particular case, however, over 136,000 transactions are pending. This is an unusual development considering the network hashrate has increased instead of decreased.

Having a backlogged Bitcoin mempool is nothing new under the sun. Issues like these arise nearly every single week. The popularity growth of Bitcoin isn’t helping matters much in this regard. Nor is the availability of scaling solutions. SegWit is active, but adoption remains abysmally low. It will take some time to solve these matters, that much is certain. Until that happens, we will see a backlog of unconfirmed transactions form every so often.

More Bitcoin Mempool Problems

There are multiple reasons why events like these transpire. In most cases, it is the result of a spam attack. Somebody may be flooding the Bitcoin network with low-fee transfers once again. This has happened a few times throughout the year and will continue to happen throughout 2018 as well. Another possible reason is how Bitcoin miners are switching to other currencies. That doesn’t appear to be the case either right now.

In fact, the Bitcoin network hashrate has been rising steadily as of late. A few hours ago, the network had over 14 exahash per second of mining power. That is now slowly declining a bit again, but it is still between the 11 and 12 exahash we have seen for weeks now. There is a mining difficulty increase to take into account Such a steep increase should never be underestimated whatsoever. Especially if it’s combined with a possible spam attack, things can get ugly pretty fast. For now, we will have to wait and see how things go.

Rest assured there will be some debate over this backlog in the coming days. No one likes to wait around for Bitcoin transactions to be confirmed on the network. It is unclear how long it will take for this situation to be resolved, that much is evident. Until order is restored, we will see higher fees and even more delays. This is far from an ideal situation, but Bitcoin users are getting used to it these days. It will be interesting to see how long it takes to resolve this matter.