• Welcome to TechPowerUp Forums, Guest! Please check out our forum guidelines for info related to our community.

Steam Removes Bitcoin Support as Payment Option

Raevenlord

News Editor
Joined
Aug 12, 2016
Messages
3,755 (1.25/day)
Location
Portugal
System Name The Ryzening
Processor AMD Ryzen 9 5900X
Motherboard MSI X570 MAG TOMAHAWK
Cooling Lian Li Galahad 360mm AIO
Memory 32 GB G.Skill Trident Z F4-3733 (4x 8 GB)
Video Card(s) Gigabyte RTX 3070 Ti
Storage Boot: Transcend MTE220S 2TB, Kintson A2000 1TB, Seagate Firewolf Pro 14 TB
Display(s) Acer Nitro VG270UP (1440p 144 Hz IPS)
Case Lian Li O11DX Dynamic White
Audio Device(s) iFi Audio Zen DAC
Power Supply Seasonic Focus+ 750 W
Mouse Cooler Master Masterkeys Lite L
Keyboard Cooler Master Masterkeys Lite L
Software Windows 10 x64
In a blog post over at the Steam community pages, the outfit has announced that it would no longer be accepting Bitcoin as a viable payment option for purchases in the Steam store. In the blog, Steam points towards Bitcoin's high volatility as one of the reasons (the cryptocurrency very frequently sees swings in the order of hundreds of dollars in mere minutes, which makes it more difficult to properly equate Bitcoin's and the purchase's value. Additionally, Steam cites increasingly high transaction fees that sometimes can reach as much as $20, a well-known problem in the cryptocurrency's blockchain that has resisted numerous attempts at being fixed, thus generating multiple forks.

"At this point, it has become untenable to support Bitcoin as a payment option. We may re-evaluate whether Bitcoin makes sense for us and for the Steam community at a later date," the Steam team writes. Users that have been hit with requests for refunds or extra payment depending on the cryptocurrency's fluctuations can rest easy that Steam is aware of the issues and delays, and said that they "(...) will continue working to resolve any pending issues for customers who are impacted by existing underpayments or transaction fees." This event can be read in two ways: that it's a blow for Bitcoin's positioning as virtual gold, as this might start a snowball effect on other companies that accept Bitcoin as a means of payment, thus diluting the usability of the cryptocurrency and potentially affecting its value; or as a vindication for the defenders of Bitcoin as only a high-value, high-stakes cryptocurrency, leaving smaller payments to other more nimble, purpose-designed cryptocoins.



View at TechPowerUp Main Site
 
Joined
Aug 20, 2007
Messages
21,405 (3.40/day)
System Name Pioneer
Processor Ryzen R9 9950X
Motherboard GIGABYTE Aorus Elite X670 AX
Cooling Noctua NH-D15 + A whole lotta Sunon and Corsair Maglev blower fans...
Memory 64GB (4x 16GB) G.Skill Flare X5 @ DDR5-6000 CL30
Video Card(s) XFX RX 7900 XTX Speedster Merc 310
Storage Intel 905p Optane 960GB boot, +2x Crucial P5 Plus 2TB PCIe 4.0 NVMe SSDs
Display(s) 55" LG 55" B9 OLED 4K Display
Case Thermaltake Core X31
Audio Device(s) TOSLINK->Schiit Modi MB->Asgard 2 DAC Amp->AKG Pro K712 Headphones or HDMI->B9 OLED
Power Supply FSP Hydro Ti Pro 850W
Mouse Logitech G305 Lightspeed Wireless
Keyboard WASD Code v3 with Cherry Green keyswitches + PBT DS keycaps
Software Gentoo Linux x64 / Windows 11 Enterprise IoT 2024
They highlight my main complaint with bitcoin as their primary reason: Transaction fees have become unbearably high. At this point you must pay around $20 bucks just to send a transaction.

What was that about defeating swipe fees? Oh yeah, I can't hear you over my transaction fees... :laugh:

It just goes to show Bitcoin really is a dying beast, regardless of value. Some other coin will one day overtake it.

I'm watching Litecoin. More transaction volume, less fees, more usability.
 
Last edited:
Joined
Nov 5, 2014
Messages
714 (0.20/day)
Interesting, the fact their reasoning is basically nonsense (volatility means nothing to them as they use a third party payment company that just gives them $) makes me wonder what they're really up to.

They highlight my main complaint with bitcoin as their primary reason: Transaction fees have become unbearably high.
Transaction fees aren't technically high, I sent $2000 for 50c last week. The issue is that people can overpay their fees in order to increase their prioritisation so it's become a kind of bidding war for instant transactions.

I'm watching Litecoin. More transaction volume, less fees, more usability.
LTC is pretty much a dead coin, it's had it's day, but hypothetically if it ever became as popular then it would have the same issue with high fees for speed.
 
Joined
Jul 13, 2016
Messages
3,251 (1.07/day)
Processor Ryzen 7800X3D
Motherboard ASRock X670E Taichi
Cooling Noctua NH-D15 Chromax
Memory 32GB DDR5 6000 CL30
Video Card(s) MSI RTX 4090 Trio
Storage Too much
Display(s) Acer Predator XB3 27" 240 Hz
Case Thermaltake Core X9
Audio Device(s) Topping DX5, DCA Aeon II
Power Supply Seasonic Prime Titanium 850w
Mouse G305
Keyboard Wooting HE60
VR HMD Valve Index
Software Win 10
Interesting, the fact their reasoning is basically nonsense (volatility means nothing to them as they use a third party payment company that just gives them $) makes me wonder what they're really up to.

If you had actually read the whole blog post, you would have realized the reason Valve is no longer using bitcoin is because the cost to process bitcoin transactions is skyrocketing. You gotta love random people on the internet speculating non-sense when the answer is right in front of them.

Transaction fees aren't technically high, I sent $2000 for 50c last week. The issue is that people can overpay their fees in order to increase their prioritisation so it's become a kind of bidding war for instant transactions.


LTC is pretty much a dead coin, it's had it's day, but hypothetically if it ever became as popular then it would have the same issue with high fees for speed.

lol, yeah because people don't want instant transactions on the internet /facepalm. You can argue that transactions fees aren't high but the fact is what actually is being payed, the "effective transaction fee" is high and that's what really matters.
 
Joined
Nov 5, 2014
Messages
714 (0.20/day)
If you had actually read the whole blog post, you would have realized the reason Valve is no longer using bitcoin is because the cost to process bitcoin transactions is skyrocketing.
I did and I pointed out it's nonsense. Firstly they don't have to pay it the customer does so it makes no difference to them whatsoever, and secondly like I explained BTC doesn't have super high fees it actually has very low fees it's just you can pay extra to prioritise your transaction which means people who want it done right this second are fighting for it.

That's why any service that lets you pay with BTC usually gives you up to an hour to make the transaction, because most people aren't going to add a nonsense fee just to get instant clearance.
 
Joined
Aug 20, 2007
Messages
21,405 (3.40/day)
System Name Pioneer
Processor Ryzen R9 9950X
Motherboard GIGABYTE Aorus Elite X670 AX
Cooling Noctua NH-D15 + A whole lotta Sunon and Corsair Maglev blower fans...
Memory 64GB (4x 16GB) G.Skill Flare X5 @ DDR5-6000 CL30
Video Card(s) XFX RX 7900 XTX Speedster Merc 310
Storage Intel 905p Optane 960GB boot, +2x Crucial P5 Plus 2TB PCIe 4.0 NVMe SSDs
Display(s) 55" LG 55" B9 OLED 4K Display
Case Thermaltake Core X31
Audio Device(s) TOSLINK->Schiit Modi MB->Asgard 2 DAC Amp->AKG Pro K712 Headphones or HDMI->B9 OLED
Power Supply FSP Hydro Ti Pro 850W
Mouse Logitech G305 Lightspeed Wireless
Keyboard WASD Code v3 with Cherry Green keyswitches + PBT DS keycaps
Software Gentoo Linux x64 / Windows 11 Enterprise IoT 2024
LTC is pretty much a dead coin, it's had it's day, but hypothetically if it ever became as popular then it would have the same issue with high fees for speed.

Dead? It's trading at $100.00, pretty much its all time high.

It also has quadrouple the transactonal capacity of bitcoin, so the same issues would take much longer to manifest.

Also, if you want your transaction paid say within 24 frickin hours (absolutely neccesary with bitcoins volatility), those high fees are still a must and thus a very bad point in bitcoins formula.
 
Joined
Nov 3, 2013
Messages
2,141 (0.53/day)
Location
Serbia
Processor Ryzen 5600
Motherboard X570 I Aorus Pro
Cooling Deepcool AG400
Memory HyperX Fury 2 x 8GB 3200 CL16
Video Card(s) RX 6700 10GB SWFT 309
Storage SX8200 Pro 512 / NV2 512
Display(s) 24G2U
Case NR200P
Power Supply Ion SFX 650
Mouse G703 (TTC Gold 60M)
Keyboard Keychron V1 (Akko Matcha Green) / Apex m500 (Gateron milky yellow)
Software W10
I didn't even know there was a bitcoin payment option... :twitch:
 
Joined
Aug 20, 2007
Messages
21,405 (3.40/day)
System Name Pioneer
Processor Ryzen R9 9950X
Motherboard GIGABYTE Aorus Elite X670 AX
Cooling Noctua NH-D15 + A whole lotta Sunon and Corsair Maglev blower fans...
Memory 64GB (4x 16GB) G.Skill Flare X5 @ DDR5-6000 CL30
Video Card(s) XFX RX 7900 XTX Speedster Merc 310
Storage Intel 905p Optane 960GB boot, +2x Crucial P5 Plus 2TB PCIe 4.0 NVMe SSDs
Display(s) 55" LG 55" B9 OLED 4K Display
Case Thermaltake Core X31
Audio Device(s) TOSLINK->Schiit Modi MB->Asgard 2 DAC Amp->AKG Pro K712 Headphones or HDMI->B9 OLED
Power Supply FSP Hydro Ti Pro 850W
Mouse Logitech G305 Lightspeed Wireless
Keyboard WASD Code v3 with Cherry Green keyswitches + PBT DS keycaps
Software Gentoo Linux x64 / Windows 11 Enterprise IoT 2024
I didn't even know there was a bitcoin payment option... :twitch:

It was offered as a checkout method every time you checked out...
 
Joined
Feb 14, 2012
Messages
2,354 (0.51/day)
System Name msdos
Processor 8086
Motherboard mainboard
Cooling passive
Memory 640KB + 384KB extended
Video Card(s) EGA
Storage 5.25"
Display(s) 80x25
Case plastic
Audio Device(s) modchip
Power Supply 45 watts
Mouse serial
Keyboard yes
Software disk commander
Benchmark Scores still running
Transaction fees aren't technically high [...] The issue is that people can overpay their fees in order to increase their prioritisation so it's become a kind of bidding war for instant transactions.

It makes no sense to me to design a monetary system in such a way. Btw, who collects the fee?
 
Joined
Jan 17, 2010
Messages
12,314 (2.28/day)
Location
Oregon
System Name Juliette // HTPC
Processor Intel i7 9700K // AMD Ryzen 5 5600G
Motherboard ASUS Prime Z390X-A // ASRock B550 ITX-AC
Cooling Noctua NH-U12 Black // Stock
Memory Corsair DDR4 3600 32gb //G.SKILL Trident Z Royal Series 16GB (2 x 8GB) 3600
Video Card(s) ASUS RTX4070 OC// GTX 1650
Storage Samsung 970 EVO NVMe 1Tb, Intel 665p Series M.2 2280 1TB // Samsung 1Tb SSD
Display(s) ASUS VP348QGL 34" Quad HD 3440 x 1440 // 55" LG 4K SK8000 Series
Case Seasonic SYNCRO Q7// Silverstone Granada GD05
Audio Device(s) Focusrite Scarlett 4i4 // HDMI to Samsung HW-R650 sound bar
Power Supply Seasonic SYNCRO 750 W // CORSAIR Vengeance 650M
Mouse Cooler Master MM710 53G
Keyboard Logitech 920-009300 G512 SE
Software Windows 10 Pro // Windows 10 Pro
Lol and it starts
 
Joined
Jun 28, 2016
Messages
3,595 (1.18/day)
Transaction fees aren't technically high, I sent $2000 for 50c last week.
I don't remember the last time I paid for a money transfer from a bank account. Most likely in 20th century.
But it's not just the fee you pay. It's the general cost of that transfer, i.e. what Steam has to pay.

When you use a credit card in a store, you don't pay anything for it. But the shop does (around 2% in US, 0.2% in EU) and they've included it in prices of their products. That means people that pay with cash are (on average) also paying for card transactions of other clients.
This becomes an issue in online game stores because accepting BTC raises your price and you're selling the exact same product other store does. So you're loosing a portion of the market.

The issue is that people can overpay their fees in order to increase their prioritisation so it's become a kind of bidding war for instant transactions.
Which makes it even worse.
 
Joined
Aug 20, 2007
Messages
21,405 (3.40/day)
System Name Pioneer
Processor Ryzen R9 9950X
Motherboard GIGABYTE Aorus Elite X670 AX
Cooling Noctua NH-D15 + A whole lotta Sunon and Corsair Maglev blower fans...
Memory 64GB (4x 16GB) G.Skill Flare X5 @ DDR5-6000 CL30
Video Card(s) XFX RX 7900 XTX Speedster Merc 310
Storage Intel 905p Optane 960GB boot, +2x Crucial P5 Plus 2TB PCIe 4.0 NVMe SSDs
Display(s) 55" LG 55" B9 OLED 4K Display
Case Thermaltake Core X31
Audio Device(s) TOSLINK->Schiit Modi MB->Asgard 2 DAC Amp->AKG Pro K712 Headphones or HDMI->B9 OLED
Power Supply FSP Hydro Ti Pro 850W
Mouse Logitech G305 Lightspeed Wireless
Keyboard WASD Code v3 with Cherry Green keyswitches + PBT DS keycaps
Software Gentoo Linux x64 / Windows 11 Enterprise IoT 2024
It makes no sense to me to design a monetary system in such a way. Btw, who collects the fee?

The miners.

I don't remember the last time I paid for a money transfer from a bank account. Most likely in 20th century.

In America, wire transfers aren't free and generally cost upwards of $15.00.

But it's not just the fee you pay. It's the general cost of that transfer, i.e. what Steam has to pay.

That's not how bitpay (their payment processor) works.
 
Joined
Jun 28, 2016
Messages
3,595 (1.18/day)
In America, wire transfers aren't free and generally cost upwards of $15.00.
True. Banks in US are very expensive in general. And slow.
But it's not a common problem in the rest of the world and bitcoin needs more than 320 mln of Americans to get traction.

Banks in EU are very cheap (you might even find a "free" one).
And the interbank transfers are fast and rather safe.
And there are many online payments systems that are so easy to use and fast that they make bitcoin look silly.

So from a very traditional (still cash-loving) American point of view BTC might look futuristic and fantastic. From European point of view it's a bit... meh.
 
Last edited:
Joined
Aug 20, 2007
Messages
21,405 (3.40/day)
System Name Pioneer
Processor Ryzen R9 9950X
Motherboard GIGABYTE Aorus Elite X670 AX
Cooling Noctua NH-D15 + A whole lotta Sunon and Corsair Maglev blower fans...
Memory 64GB (4x 16GB) G.Skill Flare X5 @ DDR5-6000 CL30
Video Card(s) XFX RX 7900 XTX Speedster Merc 310
Storage Intel 905p Optane 960GB boot, +2x Crucial P5 Plus 2TB PCIe 4.0 NVMe SSDs
Display(s) 55" LG 55" B9 OLED 4K Display
Case Thermaltake Core X31
Audio Device(s) TOSLINK->Schiit Modi MB->Asgard 2 DAC Amp->AKG Pro K712 Headphones or HDMI->B9 OLED
Power Supply FSP Hydro Ti Pro 850W
Mouse Logitech G305 Lightspeed Wireless
Keyboard WASD Code v3 with Cherry Green keyswitches + PBT DS keycaps
Software Gentoo Linux x64 / Windows 11 Enterprise IoT 2024
True. Banks in US are very expensive in general. And slow.
But it's not a common problem in the rest of the world and bitcoin needs more than 320 mln of Americans to get traction.

It's more than just America. Most of the 3rd world is that way. I think you'll find europe is the bubble minority rather than vice versa.

And there are many online payments systems that are so easy to use and fast that they make bitcoin look silly.

Bitcoin doesn't need help to look silly at this point, frankly.
 
Joined
Jul 5, 2013
Messages
27,404 (6.62/day)
I didn't even know there was a bitcoin payment option... :twitch:
Right? Why was that ever the thing? There is a reason why currencies are regulated, it generally keeps them more stable. Cryptocoin is not regulated and is therefore about as stable as humpty-dumpty.
Bitcoin doesn't need help to look silly at this point, frankly.
Agreed, but it is a cash cow right now.
 
Joined
Feb 2, 2008
Messages
86 (0.01/day)
No thanks I'll stick to plastic for now , Besides a coin slot on my case would mess with the aesthetics.
 
Joined
Mar 6, 2017
Messages
3,322 (1.19/day)
Location
North East Ohio, USA
System Name My Ryzen 7 7700X Super Computer
Processor AMD Ryzen 7 7700X
Motherboard Gigabyte B650 Aorus Elite AX
Cooling DeepCool AK620 with Arctic Silver 5
Memory 2x16GB G.Skill Trident Z5 NEO DDR5 EXPO (CL30)
Video Card(s) XFX AMD Radeon RX 7900 GRE
Storage Samsung 980 EVO 1 TB NVMe SSD (System Drive), Samsung 970 EVO 500 GB NVMe SSD (Game Drive)
Display(s) Acer Nitro XV272U (DisplayPort) and Acer Nitro XV270U (DisplayPort)
Case Lian Li LANCOOL II MESH C
Audio Device(s) On-Board Sound / Sony WH-XB910N Bluetooth Headphones
Power Supply MSI A850GF
Mouse Logitech M705
Keyboard Steelseries
Software Windows 11 Pro 64-bit
Benchmark Scores https://valid.x86.fr/liwjs3
Joined
Sep 15, 2007
Messages
3,946 (0.63/day)
Location
Police/Nanny State of America
Processor OCed 5800X3D
Motherboard Asucks C6H
Cooling Air
Memory 32GB
Video Card(s) OCed 6800XT
Storage NVMees
Display(s) 32" Dull curved 1440
Case Freebie glass idk
Audio Device(s) Sennheiser
Power Supply Don't even remember

eidairaman1

The Exiled Airman
Joined
Jul 2, 2007
Messages
41,886 (6.61/day)
Location
Republic of Texas (True Patriot)
System Name PCGOD
Processor AMD FX 8350@ 5.0GHz
Motherboard Asus TUF 990FX Sabertooth R2 2901 Bios
Cooling Scythe Ashura, 2×BitFenix 230mm Spectre Pro LED (Blue,Green), 2x BitFenix 140mm Spectre Pro LED
Memory 16 GB Gskill Ripjaws X 2133 (2400 OC, 10-10-12-20-20, 1T, 1.65V)
Video Card(s) AMD Radeon 290 Sapphire Vapor-X
Storage Samsung 840 Pro 256GB, WD Velociraptor 1TB
Display(s) NEC Multisync LCD 1700V (Display Port Adapter)
Case AeroCool Xpredator Evil Blue Edition
Audio Device(s) Creative Labs Sound Blaster ZxR
Power Supply Seasonic 1250 XM2 Series (XP3)
Mouse Roccat Kone XTD
Keyboard Roccat Ryos MK Pro
Software Windows 7 Pro 64
Hmm i wonder if coin mining could be crashing going bust?
 
Joined
Mar 18, 2008
Messages
5,439 (0.90/day)
Location
Australia
System Name Night Rider | Mini LAN PC | Workhorse
Processor AMD R7 5800X3D | Ryzen 1600X | i7 970
Motherboard MSi AM4 Pro Carbon | GA- | Gigabyte EX58-UD5
Cooling Noctua U9S Twin Fan| Stock Cooler, Copper Core)| Big shairkan B
Memory 2x8GB DDR4 G.Skill Ripjaws 3600MHz| 2x8GB Corsair 3000 | 6x2GB DDR3 1300 Corsair
Video Card(s) MSI AMD 6750XT | 6500XT | MSI RX 580 8GB
Storage 1TB WD Black NVME / 250GB SSD /2TB WD Black | 500GB SSD WD, 2x1TB, 1x750 | WD 500 SSD/Seagate 320
Display(s) LG 27" 1440P| Samsung 20" S20C300L/DELL 15" | 22" DELL/19"DELL
Case LIAN LI PC-18 | Mini ATX Case (custom) | Atrix C4 9001
Audio Device(s) Onboard | Onbaord | Onboard
Power Supply Silverstone 850 | Silverstone Mini 450W | Corsair CX-750
Mouse Coolermaster Pro | Rapoo V900 | Gigabyte 6850X
Keyboard MAX Keyboard Nighthawk X8 | Creative Fatal1ty eluminx | Some POS Logitech
Software Windows 10 Pro 64 | Windows 10 Pro 64 | Windows 7 Pro 64/Windows 10 Home
Well done steam, its about damn time!
 
Joined
Jun 28, 2016
Messages
3,595 (1.18/day)
The bubble is certainly going to pop. The question is, how bad will it crash and will it recover?
Pop it will and recover it will. Obvious that is. The force among miners strong is...

But honestly, this is a self sustain bubble by now, i.e. the value is not directly connected to how you can use cryptos today. It's more about how we expect to use them tomorrow. So in a way: people are accumulating BTC for the future. Hence, it doesn't really matter if you can't pay with BTC on Steam. There's still someone willing to buy them from you.
The only way to fix this is by state regulation, which should have become a standard in 2018. Sadly, it seems that this won't happen for the next few years...

(*) At this point BTC value is so erratic, it's very difficult to analyze the impact of external events.
 
Joined
Apr 12, 2013
Messages
7,479 (1.77/day)
It's more than just America. Most of the 3rd world is that way. I think you'll find europe is the bubble minority rather than vice versa.



Bitcoin doesn't need help to look silly at this point, frankly.
That's not totally accurate, over here we have RTGS, NEFT & IMPS for (bank) wire transfers. The last one is instantaneous & the fees are fairly reasonable, for all of them. Then there's mobile wallets, digital transfers basically via SMS, app or in case of India ~ UPI as well. All are instant transfers, though the transfer limits are fairly low as compared to dedicated interbank transfers. So I might not know much about the US system but you're wrong in saying that wire (or money) transfers in other parts of the world is lagging behind the US, in fact US is being left behind even by sub Saharan African nations, slowly but surely.
 
Last edited:
Joined
Jun 28, 2016
Messages
3,595 (1.18/day)
That's not totally accurate, over here we have RTGS, NEFT & IMPS for (bank) wire transfers. The last one is instantaneous & the fees are fairly reasonable, for all of them. Then there's mobile wallets, digital transfers basically via SMS, app or in case of India ~ UPI as well. All are instant transfers, though the transfer limits are fairly low as compared to dedicated interbank transfers. So I might not know much about the US system but you're wrong in saying that wire (or money) transfers in other parts of the world is lagging behind the US, in fact US is being left behind even by sub Saharan African nations, slowly but surely.
The money/development argument is not as obvious as one would expect - especially if we assume that making cashless operations faster is the first step to a cashless economy. Going cashless is the CHEAP option. Cash is very expensive.
So while we mostly hear about rich countries considering removing cash (e.g. Finland is almost there), it's the poorer ones that should really care.
From what I've heard, India already has a plan for going cashless. And it's not that surprising considering how much cash you have to make for such a huge country.

It's the Americans. They are very traditional. They love cash. And American financial institutions don't force cashless operations, because... well... because cash raises their margins. :)
And it's not just cash. Americans also love cards with magnetic stripes. I've seen results of some large pool (AFAIR done by a major bank) and they've clearly stated that Americans love the swiping and the hand-written signature. So when chip+PIN cards gained popularity few years ago, there was a flood of articles on what they are and how to use them. For me, having used such card for a decade, this was bizarre.
When you think about it: technologies that attract a lot of attention in US (like PayPal, Samsung/Apple pay, now cryptocurrencies) have little to no importance in other parts of the world.
 
Joined
Aug 20, 2007
Messages
21,405 (3.40/day)
System Name Pioneer
Processor Ryzen R9 9950X
Motherboard GIGABYTE Aorus Elite X670 AX
Cooling Noctua NH-D15 + A whole lotta Sunon and Corsair Maglev blower fans...
Memory 64GB (4x 16GB) G.Skill Flare X5 @ DDR5-6000 CL30
Video Card(s) XFX RX 7900 XTX Speedster Merc 310
Storage Intel 905p Optane 960GB boot, +2x Crucial P5 Plus 2TB PCIe 4.0 NVMe SSDs
Display(s) 55" LG 55" B9 OLED 4K Display
Case Thermaltake Core X31
Audio Device(s) TOSLINK->Schiit Modi MB->Asgard 2 DAC Amp->AKG Pro K712 Headphones or HDMI->B9 OLED
Power Supply FSP Hydro Ti Pro 850W
Mouse Logitech G305 Lightspeed Wireless
Keyboard WASD Code v3 with Cherry Green keyswitches + PBT DS keycaps
Software Gentoo Linux x64 / Windows 11 Enterprise IoT 2024
That's not totally accurate, over here we have RTGS, NEFT & IMPS for (bank) wire transfers. The last one is instantaneous & the fees are fairly reasonable, for all of them. Then there's mobile wallets, digital transfers basically via SMS, app or in case of India ~ UPI as well. All are instant transfers, though the transfer limits are fairly low as compared to dedicated interbank transfers. So I might not know much about the US system but you're wrong in saying that wire (or money) transfers in other parts of the world is lagging behind the US, in fact US is being left behind even by sub Saharan African nations, slowly but surely.

Thanks, that was more an assumption than a fact on my part admittedly. I guess we americans are just really really behind the times in this regard.
 
Top