On December 6, the Steam platform issued an announcement stating that Steam no longer supports Bitcoin. The reason turned out to be the fault of the handling fee.
The Steam platform is currently the world's largest comprehensive digital distribution platform. Players can purchase, download, discuss, upload and share games and software on this platform. As of December 16, the platform said it will stop supporting Bitcoin and will no longer accept Bitcoin payments. Because the handling fees for Bitcoin transactions remain high and the currency value fluctuates frequently, this brings a very bad consumption experience to users and increases users' purchase costs out of thin air. When I first chose to support Bitcoin, the handling fee was still relatively low, but now it has increased 10 times. Therefore, the Steam platform decided to no longer support Bitcoin. After investigation, the current optimal transfer fee for Bitcoin has exceeded 100 yuan/KB.
Bitcoin has lost many users and merchants due to high handling fees. Bitcoin Cash (BCH) is gradually regaining ground lost by Bitcoin. Currently, the best handling fee for Bitcoin Cash (BCH) is only RMB 2/KB, which is very similar to early Bitcoin. Therefore, many people believe that Bitcoin Cash (BCH) is the real “Bitcoin” and a “peer-to-peer electronic cash system” in line with Satoshi Nakamoto’s ideas.
Compared with Bitcoin, Bitcoin Cash (BCH) not only has the advantage of low handling fees, but also has many advantages over Bitcoin.
Development teams are more decentralized
The development team of BTC is relatively single, only Bitcoin Core, while the development team of Bitcoin Cash (BCH) has been increasing, from the initial 5 to 8 now, and more teams can join in the future. This decentralized development team ensures the rapid development of Bitcoin Cash (BCH). Unlike Bitcoin, an expansion issue has been delayed for so long and has not been resolved yet.
Support large blocks, no congestion
The reason why Bitcoin Cash (BCH) has the advantage of low transaction fees is because it supports large blocks. The size of the block determines the transaction capacity that can be processed. Bitcoin Cash (BCH) has canceled the 1M block size limit and can initially support a maximum block size of 8MB by default. This means that the transaction volume that Bitcoin Cash (BCH) can handle has greatly increased, perfectly solving the problem of Bitcoin transaction congestion, and transaction fees have also been significantly reduced.
Meet market demand and improve user experience
Compared to Bitcoin, Bitcoin Cash (BCH) has always been user- and market-centric. From its initial creation, it was designed to better solve the problems of Bitcoin congestion and high handling fees. Subsequent adjustments to the computing power difficulty and address format changes are also intended to meet market demand and improve user experience, thereby becoming a more complete world currency.
Dare to innovate
Compared with Bitcoin, the most important thing about Bitcoin Cash (BCH) is the courage to innovate. The reason why Bitcoin has today's problems is that its thinking is stuck in its own way and does not want to make progress. Bitcoin Cash (BCH) has had the courage to make changes to technology from the beginning and has an open and enterprising mind. And in the future development process, Bitcoin Cash (BCH) is also very inclusive, such as scalable solutions, smart contracts, Lightning Network, etc. are all under consideration. All the development directions of Bitcoin Cash (BCH) are to improve Bitcoin Cash (BCH) in the direction of a free world currency.
Currently, many merchants like the Steam platform have chosen to abandon Bitcoin because of high handling fees. Bitcoin Cash (BCH), as a currency superior to Bitcoin, may become their best choice. Already many merchant users choose Bitcoin Cash (BCH) as a payment method, and this will become more and more common as time goes by.
