[NEWS] Steam / Valve stops accepting Bitcoin

[Spoetnik]

https://www.neowin.net/news/steam-will-no-longer-support-bitcoin-due-to-high-fees-and-volatility

It's funny because i said that exactly the day before then i seen the news story.
I have been warning you all for ages but you won't listen.
Valve made the decision and parroted precisely what i said before their announcement.
As usual i am right.

Not sure i care though.
I care about Bitcoin ..not the losers here in crypto.

I have no interest in helping dimwitted idiot profiteers or their predators that groom them.
You all want to believe in a fantasy and disregard reality.
You deliberatly choose to portray a facade grounded in some type of mystical crypto-faith.
The "one day" mantra.
Only problem is nobody lifts a finger to make that "one day" a reality.

Crypto died a long time ago and what replaced it was a culture of ponzi / pyramid scheme aficionados.
The majority involved couldn't care less if as Valve said the fee's were 20 cents and are now $20.
You all simply shrug your shoulders and carry on cawing like crows about the magical wondrous opportunity that is "Bitcoin".
You simply all fall back on the retort that Bitcoin price is high.
And ?
What you don't think it will be decimated when a few whales turn the momentum and put the fear into the little shit morons buying them for ROI's ?
Of course it's a bubble and of course the price will tank.
History through all of humanity cites endless references.. so why would Bitcoin be any different ?
Then you all chant about this is "different" and Bitcoin is strong.
Nope.
Laws and regulations are hampering it and it's intended use as a currency (because it's not being used as one)
The ice cold crystal clear reality is ..it failed.
It doesn't work as intended.. as a currency.

Bitcoin is NOT a viable alternative digital currency.
Almost anything else would be a more reasonable alternative.
For example i can pay $1 dollar and have the confirmation email from Interac eTransfer in less than a minute.
So why would i pay $20 and wait maybe 30+ hours and jump through silly insecure sketchy crypto hoops ?

Meh..

It's time for the little crypto-brats to grow up and the predators to get the middle finger.
Those of you that know better should be ashamed of yourselves.

This was never intended to be a dishonest scammy scheme of sorts to prey on the gullible for FIAT.
It was launched to embrace a new ideology.. that was shot and pissed on 5 years ago.

Have fun buying Tulips.. "Proset" baseball Cards, Dotcom bubble web scheme's, 1980's Water Filters, Tickle Me Elmo's, Furby's, Cabbage Patch Kid Dolls, Teddy Ruxpin's, Housing Market Bundled derivatives.. and...

BITCOIN.

[squatter]

https://www.neowin.net/news/steam-will-no-longer-support-bitcoin-due-to-high-fees-and-volatility

It's funny because i said that exactly the day before then i seen the news story.
I have been warning you all for ages but you won't listen.
Valve made the decision and parroted precisely what i said before their announcement.
As usual i am right.

That's too bad. I can understand their position. Games are pretty low-value, so network congestion/fees are making this untenable. Hopefully with the Lightning Network on the way, they'll come around when it makes sense for them. I don't fault any business for doing what's best for their model. I'd happily open a payment channel directly with Steam or their payment processor to prevent this sort of thing.

Crypto died a long time ago and what replaced it was a culture of ponzi / pyramid scheme aficionados.
The majority involved couldn't care less if as Valve said the fee's were 20 cents and are now $20.

What should we expect, though? Satoshi acknowledged that if Bitcoin went mainstream that they'd probably be worth millions a piece. You expect rational people not to try to ride that wave? When I read the "Incentives" section of the whitepaper, I get the impression that fees (as denominated in bitcoins) are supposed to go up since the block subsidy is dropping. It's in the design. It's not my fault that some crazies are paying $14k a piece.

For example i can pay $1 dollar and have the confirmation email from Interac eTransfer in less than a minute.
So why would i pay $20 and wait maybe 30+ hours and jump through silly insecure sketchy crypto hoops ?

The Interac eTransfer could get reversed. So there's that. Maybe Bitcoin doesn't work that well as a payment system. To be a store of value, there needs to be transaction liquidity; people need to transact. Otherwise it's just a dead economy that no one can exit. But it seems that in spite of the rising fees, transaction volume continues to rise. Why? Maybe its function isn't low-cost payments after all.

Have fun buying Tulips.. "Proset" baseball Cards, Dotcom bubble web scheme's, 1980's Water Filters, Tickle Me Elmo's, Furby's, Cabbage Patch Kid Dolls, Teddy Ruxpin's, Housing Market Bundled derivatives.. and...

BITCOIN.

Are you calling the top here?

[fanbeila]

Its true that bitcoin is nowadays used as an investment more than as a currency.But still we could not deny that it is still being used as currency also despite its higher fee.People have found it as a safest means to send even huge amounts to even abroad without consent of any government.So,they are ready to pay such fee when they find it still low when comparable to other means of payment.

More over,segwit was activated to solve this issue and it was solved a little bit but did not give desired results due to greediness of some miners who sent spam transactions and mined empty blocks.Still,if lightning network gets activated,then this issue would be sorted out.

[Spoetnik]

I couldn't care less where "the top" is.. i was simply posting the news with some Spoetnik style FUD.
And the only reply i got here is Satoshi planned for BTC to be a million dollars each.. and one day this and one day that.

If you read what i just said (yet again) i pointed how how the scene does not "Fix" Bitcoin.
It does not interest them in the slightest.
Lightning what ? LOL

They did not reject those things over ideology.. they reject it because it does not pad their wallets.
Or should i point out the free money windfall we all got dumping BHC ?

You may have thought you had some little retort here but you failed.. like Bitcoin.
Want to claim eTransfer is reversible ?
I never heard of it happening. and BTC has it's own comparative issues as well.
Neither point invalidates my original point.. speed and fee's as a currency.

Allow me to remind you that theymos put a sticky here that Paypal was reversible.
And how i have harped on you all since 2013 relentlessly that Paypal forbids any crypto activity.
It violates their TOS and this has been here in writing since 2012 (before i posted it in 2013)
Did he mention that in the sticky ? Nope.
How many times have i had my comment deleted after mentioning it ?
At least a couple dozen times by mods.

Kickstarter banned them too guys.  

Ahh but the "one day" bullshit.
A charade.. pure BS.
The scene has no motivation to make it work nor would a coin that is worth a million bucks each work AS INTENDED anyway.
Besides it wouldn't be that high because you'd need pretty much all of humanities paper money to be spent on BTC for that to happen.. an unrealistic silly bullshit comment by greedy silly crypto profiteers.
Maybe what Satoshi meant.. was it needed work ?
So who's gonna do it ?
No one unless it makes them money.
You catchin' on yet ?
It's not like this is new.. the behavior has been obvious for 8 bloody years now.
It's like saying hey we *SHOULD* be using decentralized exchanges.. and you know.. one day.

Gimme a fucking break  

Kiss my fucking ass investards while you count your 15k BTC on a broken coin.
Fuck you.

Fuck you and your bullshit faux-ideology you dare spout off to me while you do literally nothing to make BTC work..

..as a currency.

Don't you feed me this silly ideology bullshit when i am the only one harping on it about here endlessly for five fucking years to deaf and greedy ears.

You made your beds and you WILL be sleeping in it i can assure you.

..one day

[Turkish88]

Valve's age going to end.
Before many gamers forgive to valve all thier sins because he waiting half life 3, but for last couple of month comunity begin to understand what valve doing money and nothing more. This time it will not come down to them just like this

[SyGambler]

great topic man , seriously with the current situation I'm only seeing bitcoin as a ponzi
it's not useful these days for anything except growing your USD value , I'm not even visiting gambling sites these days cause IMO if you don't want to gamble like 10K USD there is no point at all in depositing BTC cause you will end up paying in fees way more than the house edge itself

I saw steam's tweet , and sadly some people still shilling there saying that only losers pay with btc for their games and they are ignoring the real problem
personally I'm in Syria , the only way I can get some games for me and my little brother is by funding the wallet with bitcoin
now I guess it will be much harder

so bitcoin was really solving some of my problems here , but with the current fees I'm only storing it
the avg salary here is around 80$ a month , people here can't afford crypto anymore

this is not what bitcoin meant to be

[synapsisxxx]

They should start accepting other cryptocurrencies. I mean i get it BTC is the one and all,  but seriously buying cheap  games is not practical anymore with BTC. Wasnt for a long time now.

[coinycoiny]

No proper business really accepts btc. Some might seem like they do but the reality is they exchange it asap to fiat and the customer ends up paying a higher cost in most cases.

However, even this process has become unmanageable.

This is proof that btc is never going to replace fiat. The writing is on the wall.

The only reason people buy btc today is because they can sell it for more tomorrow.

Once that has gone, and it has to at some point, the bubble will be over.

[Spoetnik]

@SyGambler
I am genuinely sorry you lost a payment method.
I think we can all see where Valve is coming from though.

People.. 8 years !

We knew this was coming.
And that other guy said use another coin ?
Really ? You think any other coin is going to scale well ?
..and was launched fairly etc ?

I am only interested in being realistic.
The bottom line is the vast majority of people in crypto happily fork over their picture ID to insecure hacked exchanges all in the name of collecting FIAT profits.. off anything that is paying.
While towing the crypto-company line "Free Market" + "No Laws" + No regulations + No Taxes etc.
Hmm i wonder why ?  

Meanwhile 8 years later that looming scalability issue grows like a cancer out of control.
To the point now that merchants are dropping it.
This is seriously bad news !

I want people to care.. and the rest to GTFO.
Crypto does not need profiteers.. it NEEDS supporters.
The type of people that would implement a fix in order to solve scalability issues for example.
While at the same time having faith with it and not worrying about how much they are worth RIGHT NOW.
You all claim to have faith and chant one day but you are full of shit.
ALL of your behavior centers around quick fast cash profits ASAP while the going is good.
Few if any in crypto actually back up their mouth and live the bullshit fake ideology they spew.

Lightning Network the answer ? i don't know, that is up to you all to decide.
I do know you either have to fix this thing or it's going down and hard.
It's sort of like word a massive meteor is going to hit Earth and everyone arguing about what to do.. until it's too late.

I don't see the price right now meaning anything.
I don't care what Bitcoins are worth.. it's irrelevant.
If anything it goes to show that the scaling issues known since day one are very real.

It should concern you all that BTC keeps rising as it gets more and more fucked up.
Why ? little morons hoping to make Altcoin chump change and sketchy money players from the stock markets rolled in.
It has sweet fuck all to do with it being used as a currency.
And if it is not used as a currency then it is not one.

What this silly high price nonsense is going to do is damage Bitcoin.
They flood in for the bubble then dump and run later.. like what happened in crypto in 2013.
That is not a productive series of events.
That would be counterproductive and set Bitcoin back.. leaving the wake of damage for the supporters to deal with.

I'm asking you all to care.
About how it works.. not the fucking price of it  
All i hear is noobs chanting it's great.. because.. it's worth 437456565 amount of dollars.
Who gives a shit ? What does that have to do with it ?

All i can say is if you want to support Bitcoin then do it.. don't fake it.
Quit worrying about the price of it and get it fixed and move forward.

How much motivation is the majority going to have in fixing BTC if it goes up a few grand every hour ?

NONE.

[bitorama]

Valve did the right thing, bitcoin now is far away from a good payment method

[mk4]

Valve's age going to end.
Before many gamers forgive to valve all thier sins because he waiting half life 3, but for last couple of month comunity begin to understand what valve doing money and nothing more. This time it will not come down to them just like this

Valve is going to end because they removed a payment method? 

First, valve never promised their users that there will actually be a Half-Life3. All the Half-Life3 being released posts/articles are rumors.
Second, "what valve doing money and nothing more". Of course they would. Valve is a corporation; Why do most corporations and businesses exist? To make money of course! Also, how is Valve removing a payment method = only doing it for money? That doesn't make any sense.

Lastly, I don't see why you're blaming Valve on this. Transaction fees and transaction times have been too high since months ago; until we come up for a solution I don't see how bitcoin reaches mass adoption as a payment system instead of an "investment".

[ClarksonI]

I would have understood this approach when the bitcoin was in full fall but there it is in such a progression that I do not understand

[donovank]

They should start accepting other cryptocurrencies. I mean i get it BTC is the one and all,  but seriously buying cheap  games is not practical anymore with BTC. Wasnt for a long time now.

This has been something ive been thinking about earlyer.
Bitcoin isn't the right currency for these small purchases, not only does 90% of the people not know how much they will actually be paying for the game before actually copy pasting the amount in their currency converter, there are allot of more viable coins for this.

Wondering if they might pick it up again

[Zebra.Guy]

Valve's age going to end.
Before many gamers forgive to valve all thier sins because he waiting half life 3, but for last couple of month comunity begin to understand what valve doing money and nothing more. This time it will not come down to them just like this

I don't think that users will dump a site because of one game or because of not using bitcoin. Probably, they didn't see any revenue coming from bitcoin payments so they just dumped it and that is to it. People have been saying all around that they wait like days for a transaction with multidollar fee to be confirmed. Simply speaking, bitcoin is not good as currency as things are at the moment and that is the end to it, it has nothing to do with steam !

[Spoetnik]

They should start accepting other cryptocurrencies. I mean i get it BTC is the one and all,  but seriously buying cheap  games is not practical anymore with BTC. Wasnt for a long time now.

This has been something ive been thinking about earlyer.
Bitcoin isn't the right currency for these small purchases, not only does 90% of the people not know how much they will actually be paying for the game before actually copy pasting the amount in their currency converter, there are allot of more viable coins for this.

Wondering if they might pick it up again

This is the official Altcoin mantra.
Until *THAT* coin has the same level of usage / transactions as Bitcoin does.
I distinctly recall hearing the resident ETH shills scammer puppets here bragging about how well Ethereum scales.
I LOL .

Altcoins steal the block-chain concept.. about18,000 times so far.
And the concept is broken.  

Don't get me started on "ledgers" either or i will piss myself laughing  

The sheer volume of stupidity on this forum is astounding.
It has turned out to be the siren call across the world for every pajeet to come runnin' in clutching real money.
Fed into the predator machine so they can be groomed and indoctrinated into the crypto cult.
And fed the crypto-cliche retort playbook to pad their post counts here with.

I'd like to setup a graph showing how much each stupid ass dipshit investard retort has been played year after year.
While 8 years later nothing changes except the rate at which new shitcoin scams are launched.
AND ..the rate at which Bitcoin continues to rot with scalability & fee's issues.

I think the symptom of this story here is illustrating to businesses like Valve inc. that this is actually a new age digital pyramid scheme variant. They got out because it's scammy bullshit.

A failed broken currency that keeps rising in huge dramatic ways is not a good thing to be involved in.
They recognize it doesn't work as intended and it's certainly a bubble waiting to pop.
People did not come to crypto to use Bitcoin.. they came to profit off of it.

..start another ICO investards that will solve everything !