Ah yes, that currency where over 50% of the transactions made on Steam were fraudulent. No, your silly toy money is not coming back.

Originally posted by Chika Ogiue:

Ah yes, that currency where over 50% of the transactions made on Steam were fraudulent. No, your silly toy money is not coming back.

Why care about it. Transactions cannot be canceled or moderated, liquidity of crypto is insanely high.

Just design payments better. Another sites that sell games/soft/subscriptions for crypto don't have such problems. So that's only stupid excuses. Fraudant transactions, that valve encountered preciously is valve's issue, not blockchain. Payment system can be properly designed to avoid losses from fraudant transactions.

Protecting visa/mc slavery is worse than any fraudant transactions and prevent frauds

Blockchain is a perfect payment processor. It's blind, it doesn't ask questions, it's always process, it can't suspend or decline valid transaction. It doesn't care about your funds source of what are you buying. It's decentralized, nobody owns it. It's that everyone wants.

Why care? Really? I mean steam does not want dirty money

Originally posted by 鳳凰院 凶真:

Originally posted by Chika Ogiue:

Ah yes, that currency where over 50% of the transactions made on Steam were fraudulent. No, your silly toy money is not coming back.

Why care about it. Transactions cannot be canceled or moderated, liquidity of crypto is insanely high.

Just design payments better. Another sites that sell games/soft/subscriptions for crypto don't have such problems. So that's only stupid excuses. Fraudant transactions, that valve encountered preciously is valve's issue, not blockchain. Payment system can be properly designed to avoid losses from fraudant transactions.

Protecting visa/mc slavery is worse than any fraudant transactions and prevent frauds

Blockchain is a perfect payment processor. It's blind, it doesn't ask questions, it's always process, it can't suspend or decline valid transaction. It doesn't care about your funds source of what are you buying. It's decentralized, nobody owns it. It's that everyone wants.

Steam tried it. People scammed them. Not Valve's fault that the people using whatever crypto is was were making fraudulent purchases. Whatever the payment processor was is to blame. This shouldn't come back. I don't like visa or Mastercard's nonsense anymore than the next guy but at least we know they are reliable and that people aren't able to use nonsense to buy stuff. Also saying "everybody wants" implies a unanimous opinion. Implementing blockchain is definitely not what most users want. Sure we all want somthing other than visa and Mastercard but it definitely ain't blockchain. So long as visa and Mastercard stay in there own lane and quit trying to censor stuff I'll use them over blockchain. Actually. I'll use anything over blockchain.

I didn't like Crypto when it was first announced back when Bitcoin was the only one. 16 years hasn't changed my mind on the subject, in fact, if anything. Everything I said about bitcoin back then was proven true over the past 16 years.

There is no reason to use cryptocurrencies as they have absolutely no backing. There are no regulations in place stopping rug pulls, no safeties in place from stopping people from having their net worth go straight from over 1 million USD to 0.01 Zimbabwe Dollars in the course of an hour.

And yes, that's the thing with Cryptocurrency. Unlike stocks and fiat currency or currency with some kind of backing, there's nothing stopping the value from taking a freefall at light speed.

Eh, lots of valid points being brought up.

I also want to bring up gas fees. Not really sure crypto would be smart for your 97% discounted game that only costs 2$. Because at that point, the gas fee is more liable to be larger than the price of the base game. This might not matter when you're buying a 80$ game. But if you're making smaller purchases (which are much more common on Steam sales,) the gas fees would have the potential to be far more annoying.

Originally posted by 鳳凰院 凶真:

Why care about it.

Funnily enough, companies don't like it when you steal.

Originally posted by Soren:

I also want to bring up gas fees. Not really sure crypto would be smart for your 97% discounted game that only costs 2$. Because at that point, the gas fee is more liable to be larger than the price of the base game

What does gas have to do with it? crypto is more about non control from visa/discovery

Originally posted by 鳳凰院 凶真:

Blockchain is a perfect payment processor. It's blind, it doesn't ask questions, it's always process, it can't suspend or decline valid transaction. It doesn't care about your funds source of what are you buying. It's decentralized, nobody owns it. It's that everyone wants.

It sounds like you're describing the perfect payment processor for scammers. There's a reason those features exist.

Originally posted by Princess Luna:

What does gas have to do with it? crypto is more about non control from visa/discovery

Gas fees in this sense is the transaction fee you have to pay to make a purchase with crypto. These fees aren't set, like they would be for processing a credit card purchase, but wildly fluctuate. They were another reason Valve dropped bitcoin as the fees could change DURING a purchase more than once. Valve cited that this could mean having to send them money several times to cover the original purchase.

I thought about this and I came to the conclusion that people are not ready for web 3.

People have an innate fault to gamble on cryptocurrencies. Platforms have to learn to utilize their reputation to middleman transactions for customers and sellers.

It's unfortunate, WE HAVE THE TECH to solve many problems but, people are not ready...

Originally posted by Princess Luna:

Originally posted by Soren:

I also want to bring up gas fees. Not really sure crypto would be smart for your 97% discounted game that only costs 2$. Because at that point, the gas fee is more liable to be larger than the price of the base game

What does gas have to do with it? crypto is more about non control from visa/discovery

I mean, if the surcharges are larger than the product you are purchasing, then the payment process is impractical for the end user at the end of the day.

It's like ordering something for 5$ off temu, then finding out there is an 200$ tariff to have that shipped to America. It just makes the whole transaction useless at that point regardless of any "control" such a payment option could offer. Users won't tolerate it. And Valve wouldn't like dealing with the fluctuating prices on the gas fees either. Especially if it'd skyrocket when a viral game comes out like Silksong, where gas fees could hypothetically jump up to thousands of dollars potentially for a single transaction.

Originally posted by Soren:

Originally posted by Princess Luna:

What does gas have to do with it? crypto is more about non control from visa/discovery

I mean, if the surcharges are larger than the product you are purchasing, then the payment process is impractical for the end user at the end of the day.

It's like ordering something for 5$ off temu, then finding out there is an 200$ tariff to have that shipped to America. It just makes the whole transaction useless at that point regardless of any "control" such a payment option could offer. Users won't tolerate it. And Valve wouldn't like dealing with the fluctuating prices on the gas fees either. Especially if it'd skyrocket when a viral game comes out like Silksong, where gas fees could hypothetically jump up to thousands of dollars potentially for a single transaction.

The scam of selling something for $2 plus $2000 shipping+handling on Amazon, but built into a currency.

Users also won't tolerate games being removed from Steam for dumb reasons.

Point of crypto is get out of credit companies duopoly

Steam can cater to Visa and lose games and lose clients and money

Or it can offer crypto

Or devs will leave steam and set sites for selling ganes and will try to purchase ganes via bitcoin

What the poiht of using shop if all games ate animal crossing and inoffensive tetris

Originally posted by Princess Luna:

Users also won't tolerate games being removed from Steam for dumb reasons.

Point of crypto is get out of credit companies duopoly

Steam can cater to Visa and lose games and lose clients and money

Or it can offer crypto

Or devs will leave steam and set sites for selling ganes and will try to purchase ganes via bitcoin

What the poiht of using shop if all games ate animal crossing and inoffensive tetris

Valve can stop accepting credit/debit cards and immediately go out of business because 90%+ of people no longer have a way to buy games and nobody wants to jump through that many hoops and they'll just go to another store.

Which is why they're not going to drop Visa and MasterCard. That'd be like if they dropped support for Windows and Linux.