CHOO CHOO! "Bitcoin payments are coming soon to Steam"

[Barbut]

I wait this for months, there was talk about this few months ago and its closer then ever now. Amazing thing for btc and for people that like to play games on steam. First thing i will do is to by cs with bitcoins.

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[Syke]

But then again, the fact that steam doesn't want to hold bitcoin at any time, and even goes as far as to advertise that proudly, is a bit concerning.

Not concerning at all. Someone buys some bitcoins, then spends some, but not all of them, on Steam. That can only be a positive move since people can't spend more bitcoin than they buy. More places to spend them, mean more buyers, means choo choo.

[BitHodler]

Man, it's nice that Steam take control of payments in their own platform without letting publishers have any say into that like declining certain payments as publishers in Humble Bundle do with bitcoin most of the time. As long as a publisher gets money in their account they shouldn't care what form of money was traded to acquire it... This just makes the life of customers more inconvenient.

But then again, the fact that steam doesn't want to hold bitcoin at any time, and even goes as far as to advertise that proudly, is a bit concerning.

It's the volatility that doesn't make them want to hold the coins for a longer time.

I can't really blame them as they must keep the same amount of sales value at any time regarding profits and tax and the rest that comes after that.

That's why they use a third party service to convert all their Bitcoin sales to fiat currency. That allows them to accept Bitcoin without being exposed to the volatility of Bitcoin.

[kwukduck]

That's good news. Unfortunately steam is so ridiculously expensive compared to other game stores.

[Junko]

This is pretty cool news, indeed.

That's good news. Unfortunately steam is so ridiculously expensive compared to other game stores.

There are always good deals to be had on Steam when they run the special offers, you just have to wait and look for them. I don't remember how much exactly, but I got CS:Go for some rediculously low price when it came out. As well as other premium titles. Like I said, you have to watch for the special offer periods.

[Amph]

That's good news. Unfortunately steam is so ridiculously expensive compared to other game stores.

this is the worst part, on g2a for example i can already pay with bitcoin and it is cheaper, but there are some rare good edeal on steam for certain indie, so it may be worth it from time to time

[Herbert2020]

this is such a big news, i have been waiting for this to happen for a very long time. i have even submitted this request for adding bitcoin to their system with their support staff last year.
i am glad that they finally accepted this request.

[ynef]

There are always good deals to be had on Steam when they run the special offers, you just have to wait and look for them. I don't remember how much exactly, but I got CS:Go for some rediculously low price when it came out. As well as other premium titles. Like I said, you have to watch for the special offer periods.

This! I bought the original Tomb Raider (1996 version) for something like €1+ on their special offers period and I've seen it come and go at least 4 times a year. I guess it will depend on the game and publisher also, but the same game is worth €6,99 right now.

[Denker]

http://coinjournal.net/bitcoin-coming-steam/

Valve confirmed that Steam will accept Bitcoin.

We have heard back from Valve. They confirmed that the letter was sent from them to developers and publishers on Steam, stating simply “Here is the note we sent to dev and publishers about it.”

So that's really some great news!

[talkbitcoin]

this is great news. i am so excited to see this.

i think today's price rise was because of this news, and also i am expecting another big rise as soon as they officially announce this news on steam website.

[ynef]

this is great news. i am so excited to see this.

i think today's price rise was because of this news, and also i am expecting another big rise as soon as they officially announce this news on steam website.

Steam news and a beautiful swing like this is an excellent combo:
http://ynef.net/price-of-bitcoin-pulls-back-from-yesterdays-high-of-452/

[davinchi]

When g2a implemented bitcoin there wasn't a huge increase of bitcoin price at that time, but if steam do this then bitcoin pay method will be available to millions of users which i think will buy bitcoins not only to spend but also to invest/hold.

Later this year:

Teens (without access to VISA or Mastercard) selling Steam items on the Steam Community market for BTC.

Bitcoin will be their first "bank account", so to speak. Way to onboard a generation.


This kid is already doing it: https://www.reddit.com/r/personalfinance/comments/3zeq86/16_year_old_making_2250month_need_suggestions/

This is why bitcoin has more advantages for the teens and for those who can't have bank/visa accounts/cards.
About that guy, it makes $2250 per month but the profit is somewhere 50% which is still great.

Well that kid is going places. $2250 a month with profit nearly 50% is really high for a 16-year-old. I'm already an adult and I can only hope for something at most half he is getting.

Plus all these college expenses making me really poor.

[Mervyn_Pumpkinhead]

There aren't many people who will convert their fiat to BTC just to pay for steam. It's just way more convenient to pay directly with ones credit card. But..
There will be many people who are already holding BTC, and who will see this as an opportunity to trade their BTC for merchandise. After this, bitpay/merchant will directly convert those BTC to fiat.

So, merchant adoption creates a lot more selling pressure then buying pressure. Like it has been with every major bitcoin merchant adoption.
The "but it will get bitcoin more attention" argument worked before 2013. People already know about bitcoin, and they just don't care. This argument worked when bitcoin was still new and exciting and wasn't a well-known get-rich-quick scheme among the average Joes.

[Denker]

There aren't many people who will convert their fiat to BTC just to pay for steam. It's just way more convenient to pay directly with ones credit card. But..
There will be many people who are already holding BTC, and who will see this as an opportunity to trade their BTC for merchandise. After this, bitpay/merchant will directly convert those BTC to fiat.

So, merchant adoption creates a lot more selling pressure then buying pressure. Like it has been with every major bitcoin merchant adoption.
The "but it will get bitcoin more attention" argument worked before 2013. People already know about bitcoin, and they just don't care. This argument worked when bitcoin was still new and exciting and wasn't a well-known get-rich-quick scheme among the average Joes.

So why do you care?
Every merchant accepting Bitcoin as payment option will bring us a step further.
And when Bitcoin continues rising in terms of it's infrastructure, it's value and ease of use improves, merchants will rethink the decision of not holding Bitcoin.
Give it some time man.It's the first small step in the right direction.

[lumeire]

http://coinjournal.net/bitcoin-coming-steam/

Valve confirmed that Steam will accept Bitcoin.

We have heard back from Valve. They confirmed that the letter was sent from them to developers and publishers on Steam, stating simply “Here is the note we sent to dev and publishers about it.”

So that's really some great news!

Finally, it's been months since there were rumors about this. Glad it finally happened. Next stop, Amazon. 

[Mervyn_Pumpkinhead]

So why do you care?
Every merchant accepting Bitcoin as payment option will bring us a step further.
And when Bitcoin continues rising in terms of it's infrastructure, it's value and ease of use improves, merchants will rethink the decision of not holding Bitcoin.
Give it some time man.It's the first small step in the right direction.

I am a very caring person...
In my perspective, it's a foolish dream to hope that value of bitcoin will rise with expansion of utility. Bitcoin is just too impractical for it. The main reason is that it lacks any mechanism for a predictable value stability. You won't be able to run a business while depending on a currency that's value is this unpredictable. Unpredictable future value is the main thing that makes a low quality currency. That is the reason why merchants actually use more USD or EUR in underdeveloped countries where national currency is low quality and unpredictable.
Merchants have only adopted bitcoin because it gives them free press and some new clients among the bitcoin enthusiasts. As a tool of finance, bitcoin is just a gimmick.

The only chances to see some "CHOO CHOO", would come from some wealthy greater fool, or if some exchange would do another Gox and buy a lot of bitcoin with non-existing fiat.

[chichidori]

finally now i can buy all those beautiful arcana on dota 2 and csgo items, if it goes mainstream who knows maybe we can see a 1000 USD per Bitcoin again.

[iram66680]

I heard about this too recently but they have been announcing this for ages. Now time has come! 
Happy to hear about this next succession in the bitcoin payment option corporation listing.
This is only good for bitcoin.

[Brito]

Will be making use of my Gulden Android wallet for this
https://play.google.com/store/apps/details?id=com.gulden.wallet

[Altynbekova]

I heard about this too recently but they have been announcing this for ages. Now time has come! 
Happy to hear about this next succession in the bitcoin payment option corporation listing.
This is only good for bitcoin.

There is a chance that the bitcoin is getting accepted by steam, I think it still will take some time to do this but steam is mostly pretty fast with accepting new pay methods.
Overall there is a good chance that the bitcoin is going to a high amount and that  steam also want to make some profit right, ahah.