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Author Topic: Valve will no longer support bitcoin?  (Read 92 times)
Hans17
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March 20, 2018, 04:52:16 PM
 #1

Well i know this been an old news and if my topic is not allowed on this thread or somehow not related well kindly move it thank you.

And i gathered some information or data because ive been curious and then this appear that valve will no longer support bitcoin and as a gamer too i think it would lot easier to use bitcoin as a payment. And then here is some link feel free to look at.

Link:
https://www.google.com.ph/amp/s/www.theverge.com/platform/amp/2017/12/6/16743220/valve-steam-bitcoin-game-store-payment-method-crypto-volatility


Share your thoughts , all thoughts appreciated.

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March 20, 2018, 06:48:24 PM
 #2

It does suck, but they made that move when fees were anywhere from $10-30 a transaction. Now that the fees have calmed down, I wouldn't be surprised if they came out in a couple months and said we are accepting it again. I mean how hard is it to add one payment option for a big company? I would imagine it is quite easy, and not hard at all to re-integrate.

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March 20, 2018, 07:04:22 PM
 #3

I don't mind it, steam not accepting bitcoin transactions made the daily transactions go lower which helped reduce the overall miner fees. We could still buy steam gift card/games/skins with bitcoins.

It does suck, but they made that move when fees were anywhere from $10-30 a transaction. Now that the fees have calmed down, I wouldn't be surprised if they came out in a couple months and said we are accepting it again. I mean how hard is it to add one payment option for a big company? I would imagine it is quite easy, and not hard at all to re-integrate.
If they do accept bitcoin and after a month or two miner fees starts to blow up they might remove it again. Imo now is not the right time to bring back bitcoin payments for steam maybe in the future where lightning network is already activated.

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March 20, 2018, 07:09:47 PM
 #4

It is indeed old news, but I don't think that Valve will re-integrate bitcoin again. The fees are one thing, the volatility of the bitcoin price is another concern, which you need to keep in mind. As long as the price is so volatile (like nowadays), than there is not much chance Valve will add bitcoin back.

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March 20, 2018, 07:11:38 PM
 #5

Until bitcoin volatility is reduced and more importantly the fees and transaction times are low and stable then there will likely not be anyone new supporting bitcoin or anyone that supported it previously. The thing with the fee argument is, what difference does it makes to the company accepting the funds? I guess it's because they have to convert that btc in to fiat and that costs them a large portion of their profit?

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March 20, 2018, 07:14:03 PM
 #6

Well i know this been an old news and if my topic is not allowed on this thread or somehow not related well kindly move it thank you.

And i gathered some information or data because ive been curious and then this appear that valve will no longer support bitcoin and as a gamer too i think it would lot easier to use bitcoin as a payment. And then here is some link feel free to look at.

Link:
https://www.google.com.ph/amp/s/www.theverge.com/platform/amp/2017/12/6/16743220/valve-steam-bitcoin-game-store-payment-method-crypto-volatility


Share your thoughts , all thoughts appreciated.

If you want to reduce the miner fee you have to hold and do the bitcoin transcation in bulk.Then it will reduce the transaction changes to bitcoin.If the bitcoin debit card was created and then the transaction of bitcoin is very easy.Lightning effect is created to reduce the transaction speed of bitcoin.

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March 20, 2018, 07:19:29 PM
 #7

yeah is old news
they said they didn't want to support bitcoin and all trancaction with bitcoin is not exist again
they confused in the bitcoin price in the jiggly situation before
i think if bitcoin be more stablize they will support with it again

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March 22, 2018, 09:27:35 AM
 #8

Yes there is a reason why steam did this a couple months back and one of them is due to volatility of bitcoin and high transaction fees, they also already make an official statement sent by email if i'm not mistaken and more of that statement can be seen here: https://steamcommunity.com/games/593110/announcements/detail/1464096684955433613
Quote
Historically, the value of Bitcoin has been volatile, but the degree of volatility has become extreme in the last few months, losing as much as 25% in value over a period of days. This creates a problem for customers trying to purchase games with Bitcoin. When checking out on Steam, a customer will transfer x amount of Bitcoin for the cost of the game, plus y amount of Bitcoin to cover the transaction fee charged by the Bitcoin network. The value of Bitcoin is only guaranteed for a certain period of time so if the transaction doesn’t complete within that window of time, then the amount of Bitcoin needed to cover the transaction can change.
Its suck but i think they did the right thing because i don't want to be charged higher price when buying something because of the transaction takes time longer than usual or even might get a refund depend on the bitcoin price in that certain day.

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March 22, 2018, 09:44:53 AM
 #9

If valve wont support bitcoin in its process then there are lot of more company can offer better service than them, since Bitcoin today is popular no many business even individual offer services like them so it is their lost anyway.

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March 22, 2018, 11:40:01 AM
 #10

Hi,

Just like many other.. this was an announcement effect. I'm quite sure of that.

These companies must be aware that bitcoin cannot be used as a currency because of its volatility... So they know that the risk is too high over the long term but they accept it for a short period of time, to make people talk about it and attract new users.

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March 22, 2018, 11:50:04 AM
 #11

Well i know this been an old news and if my topic is not allowed on this thread or somehow not related well kindly move it thank you.

And i gathered some information or data because ive been curious and then this appear that valve will no longer support bitcoin and as a gamer too i think it would lot easier to use bitcoin as a payment. And then here is some link feel free to look at.

Link:
https://www.google.com.ph/amp/s/www.theverge.com/platform/amp/2017/12/6/16743220/valve-steam-bitcoin-game-store-payment-method-crypto-volatility


Share your thoughts , all thoughts appreciated.

Actually this is one of the dilemma with online games or games that involves with bitcoin when we are talking about online purchases. Since bitcoins does have a high volatility as what steam had said, they would loss on both sides a lot if some players would decide to refund after they bought online currency intended for steam game use because the value would greatly differ.

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March 22, 2018, 11:55:04 AM
 #12

yeah it sucks, i can't buy a game with it again
they don't support bitcoin because they worry about the price can make them unprofitable, and they don't want to use it again
just waitng if their will stand to opposite with bitcoin when the price are going stablize
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March 22, 2018, 12:01:41 PM
 #13

Companys like Valve and Steam cannot suppor bitcoin because on same correction like that they loss a lot of money like -70% of earning thats why they do not  want to support bitcoin and crypto also.

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March 22, 2018, 12:34:01 PM
 #14

I've got mixed feelings about those news. First of all as it was already mentioned the article is pretty old. The problem was solved (at least for a while) but I haven't seen anyone hurrying to accept BTC again. The next thing is that I don't really believe that they stopped supporting bitcoin only because of high fees. It shouldn't really matter anyone. They could just accept funding of their accs via BitPay without dealing with cryptos. In such case user would have to deal with high fees by himself. Maybe someone needs to buy lots of expensive stuff and 10-15$ of tx fee was not that important. It shouldn't be a bit problem for Valve. Seems like they might face another more serious reason and simply decided to dodge cryptos.

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March 22, 2018, 04:22:54 PM
 #15

big companies like Valve don't like having lots of payment options on their platform since it only causes confusion and lots of headache for their support staff. and when people don't use that option they won't continue to have it on their platform.

for years people asked Valve to add bitcoin support so more than a year ago they did and lots of gamers used that option to purchase lots of things from Steam Store. but for a couple of months last year fees went up to ridiculous amounts, amounts that were 10 times higher than value of most games on their platform so nobody used bitcoin payment option anymore so they dropped it.


why does this link look weird (starts with google.com instead of directly to the site)? just curious

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April 06, 2018, 12:14:07 AM
 #16

Since Valve has no control over the fee amounts, they have been incurring volatile and often exorbitant costs related to accepting Bitcoin as payment for games. Coupled with the fact that any bitcoin that they are in possession of could change drastically in value during drops, they’ve concluded that Bitcoin is not a viable method of payment for them to continue to support.
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April 06, 2018, 12:17:43 AM
 #17

Well i know this been an old news and if my topic is not allowed on this thread or somehow not related well kindly move it thank you.

And i gathered some information or data because ive been curious and then this appear that valve will no longer support bitcoin and as a gamer too i think it would lot easier to use bitcoin as a payment. And then here is some link feel free to look at.

Link:
https://www.google.com.ph/amp/s/www.theverge.com/platform/amp/2017/12/6/16743220/valve-steam-bitcoin-game-store-payment-method-crypto-volatility


Share your thoughts , all thoughts appreciated.

it's bad,,, many website and apps removed bitcoin from they payment options. now it will be harder to spend bitcoins on goods online

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April 06, 2018, 02:16:55 AM
 #18

it's bad,,, many website and apps removed bitcoin from they payment options. now it will be harder to spend bitcoins on goods online
It's harder to spend bitcoins not because many are disabling and removing bitcoin as their options. It's hard to spend bitcoin now because we are all speculating that the price will go up and that make us want to keep our bitcoins. But there are also exchanges that you can buy gift cards and other services for bitcoin so I don't find it hard to spend that way.



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April 06, 2018, 03:58:22 AM
 #19

hopefully this rejection does not continue and only in a few games, so bitcoin crisis is not getting bigger, and hopefully the other game still still trust bitcoin as for payment / purchase, I also feel sad in a few moments bitcoin always get waves want to drop it, hopefully things get better and bitcoin slowly but surely can crawl up again as usual
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