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If valve can escape the Microsoft store, it can handle a few payment processors. what would happen if Valve accepted Cryptocurrency? in turn, what might happe

If valve can escape the Microsoft store, it can handle a few payment processors. what would happen if Valve accepted Cryptocurrency? in turn, what might happen if valve decided to become a cryptocurrency exchange exclusive to the gaming community? EDIT: another solution is to use a load-wallet based system to shroud transactions from your financial nanny. money in, money out, no explicit evidence of a purchase.

Arrowmaster 1y ago
They used to but removed it because nobody actually uses crypto currencies as currency. They also already let you load funds onto a wallet for use later.
- pixxel 1y ago
  [dead]
rxyz 1y ago
I think Valve will not accept crypto unless they run out of options. They don't accept any games that use NFT's on their platform and haven't added crypto top-ups to this day, even though it would be simple for them via providers like Stripe
- fishgoesblub 1y ago
  Steam used to support Bitcoin to add money to your Steam account. To my knowledge, they removed it due to issues with fees and other stuff.
- nicce 1y ago
  It does not make sense to add crypto currencies unless there are official ones in the U.S/EU. Otherwise it is just asking more scamming/instability in the scale of Steam.
elenchev 1y ago
Steam used to accept BTC payments in 2016 but they didn't want to deal with the probabilistic finality of bitcoin so they quickly removed the btc option. previous discussion: https://news.ycombinator.com/item?id=30478262 https://news.ycombinator.com/item?id=30478262
- ipaddr 1y ago
  In 2016 this wasn't a solved problem but today it is
  - noman-land 1y ago
    How is it fixed today? I'm not in the bitcoin game but doesn't the transaction have to be mined and that takes at least 10 minutes?
    - ipaddr 1y ago
      The landscape of third party companies who offer transaction insurance has increased. With bitcoin you have the lightning network.
      - bigyabai 1y ago
        The lightning network is a "solution" to Bitcoin in the same way that buying a new car fixes the old one.
_aavaa_ 1y ago
> cryptocurrency A technological solution to a political problem. Visa/mastercard/banks will just censor the off ramps next. > wallet based system What does this accomplish? The same institutions will request proof that all transactions are compliant, which will most easily handled by simply banning the content.
- vlovich123 1y ago
  Whose off ramps? Steam doesn’t need CCs for that. The more likely situation is them preventing payments through their system for Steam and Steam having to pick.
  - _aavaa_ 1y ago
    We were talking about steam transacting in crypto to avoid the censorship. The people pressuring visa and Mastercard to drop porn/sex related services are not going to suddenly roll over when those services switch to crypto. They’ll simply go for the crypto off-ramps.
lenerdenator 1y ago
Load-wallet would probably be better. Crypto is almost as bad as handing over your ID to see "adult" materials, because both require you to trust two parties (government ID stores and the general crypto community) that have shown themselves to not be trustworthy at all.
- immibis 1y ago
  I'm not seeing how the "general crypto community" can be compared to a "government ID store".
  - lenerdenator 1y ago
    I can count on people in the government to abuse having my ID linked to my online activity. I can count on people in the crypto community to do unsavory things with my money to my financial detriment.
- catsma21 1y ago
  nobody would be able to see what you bought with the coins, only that you sent them to steam
- akimbostrawman 1y ago
  for the 1000th time. the blockchain with all transaction and wallets being viewable and traceable is not a issue of cryptocurrency itself but certain inferior and outdated coins like bitcoin. monero has solved that issue and it does not matter if you see any "IDs"
- southernplaces7 1y ago
  This presupposes that we should have to hand over ID to see "adult" materials, which is by itself an idiotic and deformed notion that should be killed dead before it gains more ground. Porn is not the same as buying a goddam gun or a bunch of liquor in a store, and I don't see why people should have to digitally identify themselves because they want to look at MILF porn or whatever..
dathinab 1y ago
accepting cryptocurrency is depending on jurisdiction a legal liability people already are trying to use all kind of vectors to launder money, including steam and cryptocurrency systems in general don't do the legal due diligence of a payment processor/bank so you now have the problem of being partially responsibility to do that legal due diligence yourself and make your service more attractive to be abused as in money laundering schemes but if things get worse they could consider creating a payment processor sub company, the issue with that is I think there are a lot of way Visa can mess with them in the US and it seems not necessary in the EU (as due to side effects of pushing/forcing banking payment system improvements you technically have a wide choice of alternatives to PayPal or Credit Card payment for only payment, it's just many solutions are niche so most sides don't bother for now (but things are changing))

Arrowmaster 1y ago

They used to but removed it because nobody actually uses crypto currencies as currency. They also already let you load funds onto a wallet for use later.

pixxel 1y ago
[dead]

rxyz 1y ago

I think Valve will not accept crypto unless they run out of options. They don't accept any games that use NFT's on their platform and haven't added crypto top-ups to this day, even though it would be simple for them via providers like Stripe

fishgoesblub 1y ago
Steam used to support Bitcoin to add money to your Steam account. To my knowledge, they removed it due to issues with fees and other stuff.
nicce 1y ago
It does not make sense to add crypto currencies unless there are official ones in the U.S/EU. Otherwise it is just asking more scamming/instability in the scale of Steam.

elenchev 1y ago

Steam used to accept BTC payments in 2016 but they didn't want to deal with the probabilistic finality of bitcoin so they quickly removed the btc option. previous discussion: https://news.ycombinator.com/item?id=30478262 https://news.ycombinator.com/item?id=30478262

ipaddr 1y ago
In 2016 this wasn't a solved problem but today it is
- noman-land 1y ago
  How is it fixed today? I'm not in the bitcoin game but doesn't the transaction have to be mined and that takes at least 10 minutes?
  - ipaddr 1y ago
    The landscape of third party companies who offer transaction insurance has increased. With bitcoin you have the lightning network.
    - bigyabai 1y ago
      The lightning network is a "solution" to Bitcoin in the same way that buying a new car fixes the old one.

_aavaa_ 1y ago

> cryptocurrency A technological solution to a political problem. Visa/mastercard/banks will just censor the off ramps next. > wallet based system What does this accomplish? The same institutions will request proof that all transactions are compliant, which will most easily handled by simply banning the content.

vlovich123 1y ago
Whose off ramps? Steam doesn’t need CCs for that. The more likely situation is them preventing payments through their system for Steam and Steam having to pick.
- _aavaa_ 1y ago
  We were talking about steam transacting in crypto to avoid the censorship. The people pressuring visa and Mastercard to drop porn/sex related services are not going to suddenly roll over when those services switch to crypto. They’ll simply go for the crypto off-ramps.

lenerdenator 1y ago

Load-wallet would probably be better. Crypto is almost as bad as handing over your ID to see "adult" materials, because both require you to trust two parties (government ID stores and the general crypto community) that have shown themselves to not be trustworthy at all.

immibis 1y ago
I'm not seeing how the "general crypto community" can be compared to a "government ID store".
- lenerdenator 1y ago
  I can count on people in the government to abuse having my ID linked to my online activity. I can count on people in the crypto community to do unsavory things with my money to my financial detriment.
catsma21 1y ago
nobody would be able to see what you bought with the coins, only that you sent them to steam
akimbostrawman 1y ago
for the 1000th time. the blockchain with all transaction and wallets being viewable and traceable is not a issue of cryptocurrency itself but certain inferior and outdated coins like bitcoin. monero has solved that issue and it does not matter if you see any "IDs"
southernplaces7 1y ago
This presupposes that we should have to hand over ID to see "adult" materials, which is by itself an idiotic and deformed notion that should be killed dead before it gains more ground. Porn is not the same as buying a goddam gun or a bunch of liquor in a store, and I don't see why people should have to digitally identify themselves because they want to look at MILF porn or whatever..

dathinab 1y ago

accepting cryptocurrency is depending on jurisdiction a legal liability people already are trying to use all kind of vectors to launder money, including steam and cryptocurrency systems in general don't do the legal due diligence of a payment processor/bank so you now have the problem of being partially responsibility to do that legal due diligence yourself and make your service more attractive to be abused as in money laundering schemes but if things get worse they could consider creating a payment processor sub company, the issue with that is I think there are a lot of way Visa can mess with them in the US and it seems not necessary in the EU (as due to side effects of pushing/forcing banking payment system improvements you technically have a wide choice of alternatives to PayPal or Credit Card payment for only payment, it's just many solutions are niche so most sides don't bother for now (but things are changing))