At no time does Valve receive or hold bitcoin, pay us in traditional currency

[XqXWkK]

http://i.gyazo.com/fa7a9b7b0f86b5a0e3ee907d76a28f9d.png

[unamis76]

This has been pretty much everywhere on the internet... I hope it's true They've been having bitcoin payment requests for quite some time and I'd definitely buy more on their store if they start accepting Bitcoin! And another plus for us, a huge merchant accepting out favorite currency!

[eternalgloom]

I wasn't expecting anything else to be completely honest, most big online retailers convert their Bitcoin to fiat right after the purchase.
I'm already super excited for Valve to accept Bitcoin, this doesn't change that

[Jeremycoin]

Wow, I don't know that Steam was started to accept Bitcoin as the payment. This is what I've been waiting for, btw I think they're mentioning about BitPay on that tweet.

[Lethn]

I was wondering how this would affect the steam greenlight program? Will they still pay developers in their local currency or can you opt to take profits only in Bitcoin? Because I of course will be looking at getting my game onto Steam at some point and was wondering about this when I saw the announcement.

[ebliever]

Let's hope their acceptance of bitcoin works better than anything else they do. The one game I bought using Steam gave me nothing but headaches and frustration, dealing with their buggy interface, crashes and constant flood of advertising that killed my limited bandwidth cap as a rural user. Then several years after my old system died I tried to reinstall my game on a new system and was completely unable to do so. When I asked for assistance (without rancor) I promptly got banned on their forum. It's been the most ridiculously user-unfriendly system/company I've dealt with in games. Too bad, because I really enjoyed the game itself (TW: Empire). But it's like they are trying to drive people into piracy or something.

[DimensionZ]

Valve are not an investment company and they don't need to trade and hold Bitcoins to make money so I think this is to be expected from them using another payment processor to take care of the Bitcoin transactions and convert them back to fiat on the spot. The mere inclusion of Bitcoin on Steam is a giant step for the Bitcoin community as a whole because it will increase the user base.

[Kprawn]

They not going to hold Bitcoin, because they will use a third party processor to convert all Bitcoins received into fiat. I am curious to know which

third party processor this is going to be? Has this been announced yet? If the payment of Bitcoin is incentivized with discounts, Bitcoin will take

flight, but there must me some advantage {possibly cheaper tx fees} to using Bitcoin over other payment methods for people to switch. 

[LiteCoinGuy]

of course they dont hold bitcoin....or should i say, not yet 

[RodeoX]

The money I see is in payment processing. 
Hmm. They better pass on some of the savings to the customer.
I would guess they are paying 1% on outsourced processing. That is 2% less than they likely pay for outsourcing payment of a credit card and they should, at least, split that with the customer. I have come to expect a bargain with bitcoin because I am sweetening the deal for the seller also. They are getting an irreversible payment within the hour, and saving 3%. Of course I pay the bitcoin fee, but that is a low and fair fee that goes to strengthen my money.

[Wendigo]

I think Valve are going to use BitPay to receive payments in Bitcoin and get local currency to their bank accounts. There is no incentive for them to receive Bitcoin directly because it may lose value after the payment is done by the customers and Valve will lose money effectively. Looks like we will get the fiat face value of the games in Bitcoin. I have hoped for a little discount though.

[tiggytomb]

Really looking forward to see how this impacts bitcoin volume, I would imagine we will see an increase in traffic to this forum as more people get curious about bitcoin?

[gentlemand]

If I was valve I wouldn't keep it either. They're not here to spread ideology. They're here to make money. That requires turnover and that requires paying other people too. It's not practical to stay in coins yet.

[KenR]

If it was not for the values to be converted in fiat and exchanged from its lower or upper bounds, bitcoins would not have gotten the recogbisition it has today. In a way, it works in our favor.