Bitcoin Forum

I'm a huge fan of gaming rigs and consoles ,I've been thinking what if SONY and MICROSOFT decides to add any cryptocurrency as means of payment on PlayStation / Xbox /steam store? I bet it will be awesome ,millions of players are out there and I'm pretty sure not all gamers are into cryptocurrency yet ,how good would this be ? I would love to see this happen in the near future.  What kinda coin do you think will be perfect for buying games on consoles like PlayStation 4, Xbox one and steam? Ripple? Litecoin? Bitcoin?Or maybe we can see PSN network ,Xbox Live and Stream having there own coin/token in the future, my point is cryptocurrency does have HUGE usability. Great future awaits.

Yeah it would be great. They would get a lot of attention from gamers worldwide. Steam used to accept bitcoin and they stopped accepting them last year. If other gaming companies can utilize the opportunity, it could turn out to be huge.

Every day crypto will be more popular and has many benefits that have been given. If the time comes later, everyone will realize that crypto is a solution that can help in human activities, so that mass adoption will occur. So sony, microsoft and other big companies must be ready and start following market demands, so they can continue to grow and compete in the market.

there are a couple of things to keep in mind.
- anything that adds to real world usage, it will add to popularity and as a result price rise.
- but you first have to consider whether that thing they add is actually secure or not. for instance many altcoins are not safe enough to be used as payments! these companies will lose a lot more in the long run if they actually try it.
- another important fact is demand. for instance there is far more bitcoin users than there are any altcoin users. so obviously adding bitcoin will get a larger audience than adding an altcoin. additionally a bigger percentage of bitcoin users see it as a currency while the majority of altcoin users see them as an investment and that simple distinction means they are more willing in using bitcoin for payment than an altcoin.
- the same argument goes for "creating their own token". nobody will use it because you will first have to deposit your money in their platform and exchange it for that token then use that token to buy stuff. so why bother? deposit your fiat in their platform and buy directly with fiat!

ps. i don't know about Sony but Microsoft have been accepting bitcoin for many years now ;)

If this happens, then the business will emerge beyond limit. There are gamers allover the world and they are buying and exchanging games and keys everyday and there is no limit for it. It can't even be described how much the business will emerge.

Though your idea of popoularizing Cryptocurrency is quite goiod, there is a question of exactly how much popular Cryptocurrency will be after such initiatives are taken. And even if the PSN network ,Xbox Live and Stream comes up with their own coins or token, there will be a question ofd their survival in the volatile cryptomarket. But, such initiative will popularize the cryptocurrency to some extent.

I very much agree with you, but I don't think the game platform is willing to accept this because they can't guarantee the security and stable income of the funds! They prefer to see the exchange of legal currency!

Indeed. I also believe that cryptocurrency does have huge usability. Cryptocurrency has a bright future ahead. Let's hope for the best.

We should understand that anything that will make life easy in terms of transaction on blockchain will popularize cryptocurrency to the world because everybody want to be at home and get things done.
If Sony and Microsoft do that, it will be additional marketing for cryptocurrency.

Well, Steam actually listed Bitcoin as a payment option a while back. But then it removed it due to slow confirmation times. And I think they don't wanna take risk with other cryptos. The main thing about these gaming giants is that they are pretty comfortable in their current positions. They will only consider cryptos if a large base of their players ask for it or otherwise when they start getting competition from emerging crypto gaming giants. Some of these are Bitguild, Hash Rush, Loom, Enjin and soon a Steam like platform by Spectre.

As far as I know, there are also popular gaming portals that use crypto (bitcoin) as a means of payment to buy their games or just to buy vouchers from there, one of which is steam (CMIIW). But I haven't used steam for a long time, so I don't know about the latest news updates about it. My last purchase in 2017 uses bitcoin to buy steam vouchers.

Adoptation will play a big part in cryptocurrency popularity. To have the option to pay for services and such using cryptocurrency of any sort the business or institution must first adopt it into their system of possible payment methods. As with time we'll be to hopefully see a lot of places or services take on cryptocurrency as a form of payment but for now we'll have to wait.

This is why those gaming giants you have named haven't accepted cryptocurrencies on their platforms. Those companies use to carry out surveys in order to know the opinions and interests of gaming users. In all likelihood, they ask them about cryptocurrencies, and they will add them only when there is a large number of gaming players using them.

There are already a lot of gaming platforms under development that will be powered by blockchain, moreover many coins are also making partnerships with popular existing games to add those coins as payment option to make in game purchases, i think slowly crypto will become vital part of gaming.

When big companies add crypto as payment as an option it is always a huge step forward in mass adoption.
Gaming sector is a big potential for crypto a it will widely use blockchain technology and this is a perfect target group in popularization of it.

Well in my opinion while the transaction happens we need to give some coupons as a gift. Well this will increase the users as well as the popularity, these days people expect something different from the developers we have to plan according to that.

Yes, it will help with an adoption, but they will not do it because why should they do it. What is the advantage of accepting cryptocurrencies? And if we talk about this, how many people are really paying with cryptocurrencies? Only few because 99% of them are crypto long-term investors, not crypto users.

Many gaming platforms accepted cryptocurrency at the initial stage, like STEAM. They stopped taking this due to restrictions and regulations of the restricted countries.

Ofcourse it will be a good thing for cryptocurrency. Millions of people will get to know about crypto if Microsoft and Sony decides to accpet crypto payment and will be interested to invest in it too.

It will be great for cryptocurrency. This is a huge community and this will make them very interested. But due to the high volatility, executing it would be a tough thing to do.

Actually, Steam used to accept bitcoin as payment. But due to its high volatility and also the fact that a video game costs less than $100, the situation didnt get in favor.

if only the government of every country accept cryptocurrency as a way of payments in some services, transactions and many more by this, cryptocurrency will flourish and will become popular and also cryptocurrency and blockchain should be taught in every schools to make some awareness.