Redditors are reporting that Twitch, the popular streaming site, has dropped Bitcoin and Bitcoin Cash as payment options.

You would think that online gaming and cryptocurrencies would go together like peanut butter and jelly. Both items appeal to a younger generation, a generation that is quick to embrace the latest technological innovations. In January 2018, Twitch, the popular gaming streaming website, added Bitcoin (BTC) and Bitcoin Cash (BCH) to their roster of payment options. Now it appears that the streaming platform has quietly dropped both cryptocurrency options.

The Reign of Twitch

The impact of Twitch on gaming cannot be understated. At any given moment of the day, over a million users are tuned in to watch their favorite gamers stream their online adventures. (The streaming site has also impacted popular culture by streaming shows like The Joy of Painting from Bob Ross and Doctor Who.)

Put those 🎁 💳 gift cards from grandma to good use by subscribing to your favorite streamer! We take these and more. Just click “Show More Methods” on the Payment Information screen. https://t.co/cyIJ4Fcnr9 pic.twitter.com/a1QmAg4A6R — Twitch (@Twitch) January 12, 2018

Twitch has helped fuel the rise of eSports as matches of League of Legends, Fortnite, and Apex Legends play out around the clock. At the time of writing, there are 58,746 live streams going on to just over 1.5 million viewers.

Twitch accepting Bitcoin and Bitcoin Cash as payment options early last year was big news. The size of the streaming site meant that millions of gamers would be exposed to the cryptocurrency ecosystem. Even if just a fraction of those using the platform began to actively trade cryptocurrency, the impact would be massive. A recent example of how cryptocurrency could have an impact on those using the platform is the 20 BTC donation given to a streamer playing Old School RuneScape.

BTC and BCH Dropped

However, it appears that both Bitcoin and Bitcoin Cash have been dropped from the platform. A Redditor posted that the cryptocurrencies were no longer available as an option, which was later confirmed by other Redditors.

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There is some speculation on why Twitch dropped the virtual currencies. One is that the option was rarely taken, which meant that the platform saw no reason to keep such an option open when nobody was using it. It should be noted that many commenting on the Reddit thread were totally unaware of the ability to pay with BTC and BCH.

Another train of thought is that it’s a way for the platform to keep some form of control over its users. The belief is that it’s more difficult to demonetize someone who is using cryptocurrency. There has been a large amount of shadow banning and deplatforming by our social media overlords for those who express the wrong opinions. However, Twitch could just ban a user outright if they wanted to remove them from the platform.

Overall, it’s a shame that Twitch has dropped both cryptocurrency payment options. They’re not the first gaming platform to do so. Back in December 2017, Steam dropped Bitcoin as a payment option. It’s possible that the services may one day reinstate virtual currencies, especially in light of the recent stability found in the marketplace as well as increasing oversight and regulation.

Why do you think Twitch dropped BTC and BCH? Let us know in the comments below.

Images courtesy of Twitch/Sick_Nerd, Twitter/@Twitch, and Twitch.