Way for Steam/Valve to bypass Visa/MC/PP.

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nuttypeanutt 21 Sep @ 5:10pm

This may have been said before but I dunno. Anyway, IMO I think the best and safest way for Steam/Valve to proceed is to start using cryptocurrency (such as SOL, ETH, or even XRP) or create their own "Steam Coin" on one of the blockchains to pay creators. If they do this then there is no need for Visa or MC or even Paypal to be involved at all in their payment services, except to maybe purchase the Steam crypto/currency of choice, and at that point there is no game attached to any sales for them to attempt to cancel. Then Steam/Valve can pay the creators in cryptocurrency of choice and they can convert it into their local currency. They could turn their own Steam points into a currency to buy games if they wanted. Doing this wipes out all power Visa, MC, Paypal, and any other payment company can do about it, and they will lose millions in the process as they become obsolete. Anyway, just my 2 cents.

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Showing 1-15 of 39 comments

Mad Scientist 21 Sep @ 5:44pm

There is no bypass. They accepted the payment processors requirements, they can't have certain content if using their services.

datCookie 21 Sep @ 5:45pm

Yes, this has been said before.

And it has been said, every time, that Valve will not go back to using Crypto. Most people do not use or trust crypto anyway.

No, thank you.

Hikari Light 21 Sep @ 6:55pm

50% of all transactions that used crypto on Steam ended up being fraudulent.

Valve refuses to go back to using something so unstable and easy to commit fraud with.

rawWwRrr 21 Sep @ 7:07pm

Adding crypto doesn't eliminate the issues with rule 15. It won't bring that specific content back because a lot of users are still going to insist on using Visa/MC. A lot of users don't buy into crypto. It would just be an another option. Nothing more.

Steam Wallet already exists and insulates purchases from Visa/MC.

William Shakesman 21 Sep @ 7:57pm

Turns out when you have a de facto monopoly and cut enough kickbacks to key political figures to support you, you get to design a system where it is nearly impossible for anyone to escape your arbitrary veto power on all commerce. A lot of effort was spent designing this system and the youtube smearing any sort of alternative, which informs the responses you see in this thread, is no small part of that.

Last edited by William Shakesman; 21 Sep @ 7:59pm

Haruspex 21 Sep @ 8:19pm

They can't bypass unless they drop Visa/Mastercard/Ebay, and in this age of the Internet, those payment processors have the concept of payment in general in a vice. How do you drop the major payment processors when 99.9% of your customers use and expect to be able to continue to use those payment processors? You don't. Not if you want to be able to stay in business.

There's pushback, and even Valve has pushed back as much as they reasonably can. Unfortunately, it's going to take an act of congress to fix this. There are two bills in the works that would do exactly that. Write your representative and tell them to support them.

Nx Machina 21 Sep @ 8:21pm

Originally posted by William Shakesman:
Turns out when you have a de facto monopoly and cut enough kickbacks to key political figures to support you, you get to design a system where it is nearly impossible for anyone to escape your arbitrary veto power on all commerce. A lot of effort was spent designing this system and the youtube smearing any sort of alternative, which informs the responses you see in this thread, is no small part of that.

Do you have any evidence to backup your claim of kickbacks to key political figures beyond a personal anti-corporation slant.

Businesses are there to make money and legally have to comply with what is required. In Valve's case they chose Credit Card for the UK as they already have the payment processes in place. The alternative is breaking the law and be fined for not complying

As for crypto (the topic of the thread) 50% of all transactions were fraudulent, therefore no longer accepting crypto makes business sense.

Last edited by Nx Machina; 21 Sep @ 8:28pm

Amaterasu 21 Sep @ 9:24pm

Originally posted by Nx Machina:
Originally posted by William Shakesman:
Turns out when you have a de facto monopoly and cut enough kickbacks to key political figures to support you, you get to design a system where it is nearly impossible for anyone to escape your arbitrary veto power on all commerce. A lot of effort was spent designing this system and the youtube smearing any sort of alternative, which informs the responses you see in this thread, is no small part of that.

Do you have any evidence to backup your claim of kickbacks to key political figures beyond a personal anti-corporation slant.

Businesses are there to make money and legally have to comply with what is required. In Valve's case they chose Credit Card for the UK as they already have the payment processes in place. The alternative is breaking the law and be fined for not complying

As for crypto (the topic of the thread) 50% of all transactions were fraudulent, therefore no longer accepting crypto makes business sense.

I think he was talking about Visa and Mastercard with that one, and if so, I happen to agree that palms are being greased in the political sector regarding those two. Dark money doesn't have to be reported, doesn't have to be recorded and can be infinite in amount. So the only way you know who has bought out a politician is who they try to be buddy buddy with politically. And it seems to be a bi-partisan issue, especially in the US for politicians to buddy up with the moneyed elites, banks, and payment processors.

Oh and by the way, 100% legal. Meanwhile if you or I were to give a politician five dollars, we'd be looking at federal prison time.

Last edited by Amaterasu; 21 Sep @ 9:25pm

Zefar 21 Sep @ 10:48pm

Originally posted by Amaterasu:
I think he was talking about Visa and Mastercard with that one, and if so, I happen to agree that palms are being greased in the political sector regarding those two. Dark money doesn't have to be reported, doesn't have to be recorded and can be infinite in amount. So the only way you know who has bought out a politician is who they try to be buddy buddy with politically. And it seems to be a bi-partisan issue, especially in the US for politicians to buddy up with the moneyed elites, banks, and payment processors.

Oh and by the way, 100% legal. Meanwhile if you or I were to give a politician five dollars, we'd be looking at federal prison time.

There is an much easier way.

Just host an event where you talk about stuff and charge the event something like 1 million fee to appear. The fee is paid by whatever sponsor you have.

You've now done it legally and have no need to hide anything.

I don't think there is such a thing such as dark money. If money goes into an account it is going to be recorded somewhere.

Princess Luna 22 Sep @ 12:45am

Originally posted by datCookie:
Yes, this has been said before.
And it has been said, every time, that Valve will not go back to using Crypto

Good to know Valve agrees to lose games from Steam and therefore money to bend before Visa.

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Princess Luna 22 Sep @ 12:48am

Originally posted by Nx Machina:
As for crypto (the topic of the thread) 50% of all transactions were fraudulent, therefore no longer accepting crypto makes business sense.

Not like with cash - money laundering and illegal money printing and financial pyramids. Totally safe

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datCookie 22 Sep @ 12:49am

Originally posted by Princess Luna:
Originally posted by datCookie:
Yes, this has been said before.
And it has been said, every time, that Valve will not go back to using Crypto
Good to know Valve agrees to lose games from Steam and therefore money to bend before Visa.

The games and money they lost were pennies compared to losing the whole if they went against VISA and MC rules.

None of us like it, but Valve made the correct business decision here

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Princess Luna 22 Sep @ 1:32am

Originally posted by datCookie:
Originally posted by Princess Luna:
Good to know Valve agrees to lose games from Steam and therefore money to bend before Visa.

The games and money they lost were pennies compared to losing the whole if they went against VISA and MC rules.

None of us like it, but Valve made the correct business decision here

Yes i reiterate- the correct decision is remove adult games and games with guns and games with lootboxes and dating simulators and other games Visa will point finger at and leave 100 squeaky clean games

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Ettanin 22 Sep @ 1:35am

You know what the cc companies and other payment providers will ban when its use becomes too prolific and the government sees its issue in commonplace abuse?

Right, crypto and the associated exchange booths, once laws are in place that ban the dissemination, purchase, sale or transfer of such monopoly money. And it won't matter what kind of payment method would be used to obtain such illegal currencies if its exchange is outlawed.

Last edited by Ettanin; 22 Sep @ 1:36am

#14

lailaamell 22 Sep @ 1:36am

Also crypto isnt really stable its value is basicly gamble will devs get the money they sold for or will your currency drop yo 0 before that simply its not worth it

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Date Posted: 21 Sep @ 5:10pm

Posts: 39

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