Bitcoin Forum

I was watching this video : https://youtu.be/Nvz4o10fGFI then I went to check preev and I found the price 466$~ so is the recent price increase have something to do with Steam accepting Bitcoin "officially" ? or it's because of something else.

Bitflix just got a license to work in the Eu as well.

Probably a triple threat those two items and the count down to the halvening is getting closer to 0.

That steam announcement is awesome sauce though.

No I do not think that if steam will step in the bitcoin will rise because I also did not see this at other big company's that has stepped in.
I honestly think that it will not rise to be honest.

Maybe there is a chance that the bitcoin will increase in its price by steam but I honestly doubt about it.
The bitcoin is pretty stable nowadays and I think there is not gonna be a rise because of steam, if there will be a rise it will just be a couple dollars in my eyes.

I think it may have had a small effect but I think it's mainly because we are getting closer towards the halving.

steam has little to do with it

it's more because of segwit and the upcoming halving than anything else.

Most likely this, yes. Merchant acceptance doesn't make any impact on the price anymore like it used to do back in 2013 and even 2014. Which makes any impact of Steam on the price highly unlikely.

dont forget the yuan beginning its move to decouple from the USD  by becoming a gold pegged currency.

Let's not forget when a major company adopts bitcoin as a payment, btc price actually went DOWN. It's a common fallacy to assume that btc price will go up because a major company adopts bitcoin, history has shown to be just the opposite.

So, if it weren't for steam accepting bitcoin, we'd see 500 already.

i think steam accepting bitcoin has been effective but it is too soon to think the effect was that big. it was a good news about a big company accepting bitcoin it will affect the price even of none of the gamers use bitcoin.
on the other hand i don't think the effect was this big, the current rise is because of many other stuff like segwit, halving, ...

Yeah there are a lot of omitted variables to your thought of Steam being the reason of price increases. We will just have to see over time if Bitcoin will continue to increase or if this is just another price pump by the whales. Then again, there hasn't been any crazy FUD this month either.

thats all your opinions, but in my view, halving is coming, so when will halving come than automatically the price of bitcoin is increasing, you can see when the last halving came, the same reason was here, the price is increasing day to day.

yes indeed it is because of halving why bitcoin keep rising up, but we also need to consider that every new company traders or any thing that has been added to transaction using bitcoin is also a factor of price increase is just so happen that the timing of Steam was perfect. let see when halving was ended.

3 things, seg wit, steam and halving, are doing something to increase the hype, they are generating a small hype and thus this will be reflected into the price

steam alone won't do much, because buing videogame with btc is not something entirely new...

I think it helps a little bit but not at all maybe in the future if players know about bitcoin they convert to buy bitcoin and use it to buy a credit in steam..
And i think thats why the price is increasing fast day by day its because of block halving.. and they are start buying more bitcoins right now because they dont see for price decrease so better to start buying it right now then you can make a profit sooner... but its better to sell it when the price reach 900 so that you can make more profit..

WHAT?>!?!?!?!?!

It's going to be available all over the world. Soon people that had massive problems trying to buy stuff in steam will be quickly buying games, so of course this made Bitcoin more valuable, but Steam adoption is only another part. The bones of price rise is Core team delivering a great update and the rest of good news. Steam and halving just help to make the fundamentals even more positive.

It is swinging down again. Cut by $11 since yesterday's price increase.

well, steam accepting bitcoin is a huge news not only for us bitcoin users but also for all the gamers on steam who will be exposed to bitcoin which will increase the popularity of bitcoin and lead to adoption but i think it is too soon for steam to cause this much price rise, this rise is just because of halving and segwit news.

Probably added to the price increase lately, seeing that gamers will only take a couple of minutes to buy in-game items and/or currency from Steam. It's great that more and more good news are pouring lately and contributing to the price increase plus positive reaction from the masses. This is exciting, given that we do have less than 3 months until the halving.

It decreased by like 25$ since I made this topic , I withdraw what I said ... It's probably not because of steam but it's definitely some manipulation from exchange or big holders.

The price increase was because of the halving hype. Now BTC->STEAM->$ is choking it.

it's again under 450, nothing happened, was just someone buying because of those good news, in the hope that he would instigate a panic buying, but it did not happened

ye take it back. someone just dump thier btc.

its good that they now use btc on steam though. I do play online games from time to time and so I should be able to spread the word to my fellow gamers.
I probably can let my friends register on coinbase under my ref link lol

and it seems we are going back stabilized at a price of $430, just waiting for the price increase when approached halving.

I too believe the Steam announcement made a hype and many players were exposed to bitcoins and started using them.Yes, Steam did quite a bump on the price of bitcoin but I don't think it is the only reason why the value increased.
As many users said, the halving is also highly affecting the price of bitcoin.

Too much movement today to make a marker of this.
Come back in May to make back your losses.  :D

that is true. Steam is the mass adoption. This will increase the price fundamentally. SegWit will increase the block size.

The bitcoin price is just trading in a small range from $440 to $470. There is no news to drive it either way.

Steam will only make Bitcoin a bit more popular between gamers and that's it. It will not impact the price in any way. In order to get the price to increase on a large scale we need high level wealthy investors and not gamers.

That is right. But the wealthy investors' money is controlled by fund managers. They are not so smart.

I guess it's true. most people in the steam are gamers and they require fast transactions to equip a good buy. so maybe they are using bitcoin transactions

very possible considering steam users very much, and almost every day there is always a transaction, and bitcoin makes them easier transactions. so many buy bitcoin for steam.

No it is now rising because it was already stable for a long time and you also know that the halving is coming slowly towards to us so that is perfect for the most people.
But if it will be acceptable on Steam than it would be also perfect because now more people can also spend it so that is nice.

It will take many years to convert the Steam users to bitcoin users. In fact, the bitcoin price just dropped today.

Will see still not long time steam accept bitcoin, so i think to make affect with bitcoin price we need more time. i hope it will goes fast so price increase much before halving.

the effect of steam on bitcoin price will be a long term effect which also would be slow. just the other day i was checking the forum and i saw a couple of people who have just found out about this after 1.5 month! so that means that others who are not in bitcoin world yet would take longer to find out about the feature and start buying/using bitcoin.

Price will increase strong because of steam. Halvening come soon to, so well hodl, and then sodl at higher prices.

It could be because of steam, after all, gamers are likely to adopt bitcoin.

But still, most of the bitcoin prices are caused by large traders trading on a leverage. While there is a chance that this price increase is caused by people using steam, but it is most likely to do with the big players.

Thats pretty huge actually.

3 things esp Steam, when the core audience is young teens who are aware of bitcoin.

So I can only imagine more steam and bitcoin for skins and keys for CS alone, and other games.

The bitcoin price dropped from $460 to $430, is that also because of Steam? I think it is nothing to do with a single company.

No, it just means old buyers are backing out of bitcoin a bit.

And probably riding the ETH hype that people are dabbling with cause they can see a form of profit.

If you havent noticed its getting face more then any altcoin has in the past - which I can understand since coinbase is adopting it as well.

I dont think steam has a large impact on the price by itself.

It is of course a factor, and it will probably help with the adoption of bitcoin as more people will use it and see the use for it.

Merchant acceptance will not have a positive impact on the price as there is really no reason for it to do so. It doesn't add anything beside them accepting Bitcoin through services such as BitPay etc. That's why it doesn't and shouldn't have a positive impact on the price.

It really doesnt effect because the only thing can do about it is it will make bitcoin user larger, and also it can open up the awareness to other business shops that bitcoin is existing and accepted by steam maybe it can affect and they accept it to but somehow as you can see the price now its terribly decreasing dont know why maybe theirs lot of people selling their coins  for their own good but really the main factor that bitcoin can go up to higher price is the more people buying, the bigger the demand the highee price will go up.

No real impact has come from the introduction of bitcoin on steam, sure it's a big platform for gamers, but the population of gamers is not a big impact on bitcoin adoption and surely many of them were already on cryptocoins as they are tech savy.
Now if Paypal, ebay or Amazon adopts bitcoin, that's a whole other story as the user base will expand greatly to affect the price of bitcoin.

Initially Steam users would be one of the factors why did the bitcoin's price has increased. It's really possible that BTC price will pump up because there's a lot of wealthy people playing Steam Games. Now that Steam is accepting bitcoins, some of them might prefer bitcoin because the transaction is fast.

Because of the fact that Steam allows you to use Bitcoins lets people spend mroe Bitcoins then usual. Because of this the value of the Bitcoin is going up and people are not holding on to there coins as much.

That is a huge factor because Steam now allows you to use bitcoins to buy games. Some people now spend there coins on Steam instead of holding them for the future this way the value of the Bitcoin is going up.

I dont think so because you see also that the value is rising slowly so that is nice but the halving is also coming towards to us and that is perfect for the people.
But it is nice also of course that Bitcoin is now more acceptable on Steam so it can also earn more money.

i also don't think that it directly affected bitcoin price, because there are not many people that use steam and bitcoins at the same time so it couldn't affect it directly

but maybe bitcoin is more popular now because people will see bitcoin name more so maybe they will look about it in internet and maybe will start to use them so it is good for bitcoin

The price has risen to $498 already. That is not the effect of Steam. I think SegWit will come out soon.

I dont think it affect also because stacm acceptance is just newly happen and bitcoin by that time is continously rising i think the main reason why bitcoin price is rising up is due to people are starting buying and bagging some btc now because halving eventnis nearly coming and panic buying for today has great help to bitcoin to rise up slowly little by little and we can see more price rising up daily because many people are still buying more btc and waiting for this historical event nearly happen.

no i don't think that recent price rise was because of steam, actually i think that this price rise was because of people started to buy lots of bitcoins, probably they want to sell them after price rise

not many bitcoin users use steam so they can't have impact on bitcoin price, but more people know about halving, so they buy bitcoins now and they will try to sell them after halving

trump just got over hillary in polls. trump president will cause major disruption in politics and economy, bitcoin is a safehaven.

No I do not think the price increase is because of steam to be honest, I really do not know how the price increase has come these days.
I hope it will stay around the 500 dollar.

I think because of incoming block halving and i think the price increase because of more investors from lisk and ethereum are converting there altcoin back to bitcoin..

I agree with the first argument about the block reward halving. The Etheruem price is also an all time high.

Both bitcoin  and Ethereum are competing to see who has the highest rise, so far, bitcoin is winning the race.

Yes this is the time to hold both bitcoin and Ethereum and see both are rising.
This rise is off course not due to the steam adoption but due to the halving process on the way IMHO!

Steam have very little to do, with what is going on here... but I figure people would buy more games, if they made more profits from the currency value going up. If you bought at $200 a year ago,

and you sold now at $700+ ... you could buy a couple of games as a reward for your efforts.  ;D ....Come to think of it, I still have to buy some birthday gifts and some games from Steam would just

be the thing to do while the price is high.  ;D

No there is no price increase because of steam its just that steam is not so popular with bitcoin right now.
A lot of people do not even know it so that is already saying enough in my eyes.

in my opinion steam is really popular with bitcoins as there are ways of getting your bitcoins for free in my opinion as there are people who dont have any credit cards or something like that

i think it might be impacted by the steam starting accepting bitcoins as the payment method, though it might also be just a price bubble that is going to burst pretty soon

I think it helps a lot why bitcoin is increasing when they announce that they are accepting bitcoin the price of bitcoin boost and increase and now if you are relaying for the price right now this is not in steam its because of chinese trading exchange bitcoins is in demand there thats why the price is increase fast..

If 10% of the Steam users are converted to bitcoin users, that could double the bitcoin price. But it will take some time.

Speaking of Steam - Summer Steam Sale is officially on; rejoice!

But to the point - I lot of you are saying that Steam is really popular and bitcoin payments are really great etc. But how many of you actually buy something from Steam directly with BTC?
How many people you know - people who use steam on daily basis even look at new Bitcoin payment method? I guess not many.

The problem is Bitcoin acceptance was not advertised anywhere! Most people don't know about it! In hindsight - I can tell that price rise because of Steam wasn't as significant as I expected.

Now both G2A.com and Steam are accepting Bitcoin so it's a little bit hard for Steam to compete with the cheap prices. But when it comes to Summer sales and Halloween sales Steam always wins.
So, I personally think a lot of people use BTC at the moment for steam. (hopefully Bitpay or Steam will give us numbers at the end of the year)

It would be better for Steam to offer some discount to Bitcoin users to encourage the bitcoin payment.

No there never been a price increase due to steam, steam never been a huge factor and the most indeed do not even know they can pay on steam with the bitcoin.
I think it almost or even had zero influence on the bitcoin market honestly.

you are right. since steam accept bitcoin, I never felt the change. I think very little steam players who use bitcoin, and it does not provide a clear effect on the price of bitcoin. I think the thing that makes the price change is due to halving bitcoin. and people selling bitcoinnya with a very high price, thus making bitcoin prices rise

I bought twice on Steam with Bitcoin, first time was a surprise see BTC as payment.

Price usually slightly higher, but for those who have to pay taxes on international payments or don't have an international credit cards, or would have to sell Bitcoins to buy games, it is an advantage. Plus the buy is instant, with other forms of payment you would have to wait hours or even days to get your games delivered.