The Health Ranger was right: Bitcoin’s usefulness as a payment system COLLAPSES

Tuesday, January 16, 2018
By Paul Martin

by: Ethan Huff
Tuesday, January 16, 2018

High fees, slow transaction times, and unpredictable volatility are among the main reasons why some companies are reportedly deciding to abandon ship when it comes to using Bitcoin.

As Mike Adams, the Health Ranger, has been predicting, Bitcoin’s future as an everyday method of payment is on the ropes as trends could be moving towards other “cryptos” that are faster, cheaper, and more stable.

Recent reports are offering similar speculations, as they observe what appears to be a shift away from Bitcoin in recent months.

While there had been a sharp uptick in the number of companies that had begun integrating Bitcoin into their payment platforms as of about six months ago, there has been something of a shift away within the past month.

Microsoft, for instance, reportedly announced that it would no longer accept Bitcoins, despite having accepted them for about three years prior to this decision. The company did, however, reserve that position after taking steps to “ensure lower Bitcoin amounts would be redeemable by customers.”

The gaming platform “Steam” has also canceled its acceptance of Bitcoin as of early December of last year. The company cited high fees and extreme volatility as the primary factors in why this decision was made.

Even the North American Bitcoin Conference decided to scrap Bitcoin from its accepted forms of payment, at least for last-minute ticket purchases to the event.

Bitcoin fees have risen from about $2 per transaction to upwards of $20 in recent years

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