Steam/Valve and Bitcoin

[Altoidmintz]

Have the Valve/Steam teams considered allowing purchase with Bitcoin?

[Satoru]

Why would they. It's a highly volitile 'currency' of little value outside of the mafia.

[Spawn of Totoro]

Bitcoin isn't worth anything to them. Real money, backed by a government, is. Actual, usable, currency.

[Altoidmintz]

Why would they? It's worth more than silver, is fundamentally deflationary, nearly impossible to charge back, is not taxed, allows international sales without fluctuation, is not subject to devaluation by central bank printing, attracts a mad libertarian following, allows nearly cost-less and instant transfer and processing of transactions, has been adopted by big names such as Wordpress, Reddit and MEGA, and it is descended from and the perfection of all virtual currency which was birthed inside of online gaming. Did I miss anything?

What about simply allowing a check box from developers such that they could opt to allow their software to be purchased with bitcoin? It would boost the indie support big time and have no risk to Steam...They could charge the developer as if it had been sold in dollars.

[Spawn of Totoro]

Ursprünglich geschrieben von Altoidmintz:

Why would they? It's worth more than silver, is fundamentally deflationary, nearly impossible to charge back, is not taxed, allows international sales without fluctuation, is not subject to devaluation by central bank printing, attracts a mad libertarian following, allows nearly cost-less and instant transfer and processing of transactions, has been adopted by big names such as Wordpress, Reddit and MEGA, and it is descended from and the perfection of all virtual currency which was birthed inside of online gaming. Did I miss anything?

What about simply allowing a check box from developers such that they could opt to allow their software to be purchased with bitcoin? It would boost the indie support big time and have no risk to Steam...They could charge the developer as if it had been sold in dollars.

Try and pay your taxes with it. Try and pay an employee with it. It's value is dirt. It is a series of ones and zeros. That is it.

Steam won't take it or let the developers take it becaue they can't get their cut and it is worthless to them, just like TF2 hats are worthless to them. There can't even be enough for every person in the world to have a single Bitcoin, so how is it a usable currancy?

If a developer wants to take it, they can do so on their own site. Steam will not find it usable, nor will the developers.

Wordpress, Reddit, MEGA are not big names in any industry. No government will take their word on the value of something that isn't backed by anything.

Argue for it all you want, it won't happen.

/thread.

[tmwfte]

Ursprünglich geschrieben von Altoidmintz:

Did I miss anything?

It is, however, even more of a fiction than the current monetary system.

[Satoru]

Ursprünglich geschrieben von Altoidmintz:

Did I miss anything?

You missed teh part where 99.9999% of the world's banking institutions DO NOT ACCEPT BITCOIN.

Bitcoin is no better than if I printed my own currency of Satoru-topia where teh currency was stupidity (since it's so easy to just make more of that) and handed out IOUs to people in exchnage for services. It's a barter system, that only works within it's own ecosystem. And is utterly and totally useless outside of said system.

NO ONE wants to be paid in Bitcoin. If I was a dev I sure as hell woudln't touch that nonsense with a 1000 foot barge pole. It's effectively an entirely unregulated and unstructured currency with no backing and is ripe for fraud and abuse as has occurred multiple times in the past. Why would anyone in their right mind take Bitcoin instead of the fiat currency USD.

[It's a Crime]

Bitcoin? Virtual money that is not regulated by the government. Get real.

[Flopmoof]

Isn't bitcoin a scam?

[Ganger]

Can you take bitcoin out of the bank and spend it, can you pay your heating bills with it and does it put food on the table ? if the answer is no, then its worthless.

[afflicted annelid]

You people can't possibly be serious. The fact that absolutely nobody has done ANY research on bitcoin is laughable especially when they're getting so buttfrustrated over it. Especially Spawn of Totoro

Ursprünglich geschrieben von Spawn of Totoro:

Try and pay your taxes with it. Try and pay an employee with it.

Those are AWFUL examples. You can't pay your taxes with foreign money either, are you saying foreign money is worthless too? Also, some people do get paid in bitcoin. The internet archive pays their employees in bitcoins if they so choose to. Please stop talking pretending you know anything.

[dirrtymartini]

Ursprünglich geschrieben von Dr. Worm:

You people can't possibly be serious. The fact that absolutely nobody has done ANY research on bitcoin is laughable especially when they're getting so buttfrustrated over it. Especially Spawn of Totoro

Ursprünglich geschrieben von Spawn of Totoro:

Try and pay your taxes with it. Try and pay an employee with it.

Those are AWFUL examples. You can't pay your taxes with foreign money either, are you saying foreign money is worthless too? Also, some people do get paid in bitcoin. The internet archive pays their employees in bitcoins if they so choose to. Please stop talking pretending you know anything.

Ok, I'll bite. Why should Valve accept bitcoin? The OP failed to support his suggestion. Perhaps you could?

[Ganger]

Ursprünglich geschrieben von Dr. Worm:

You people can't possibly be serious. The fact that absolutely nobody has done ANY research on bitcoin is laughable especially when they're getting so buttfrustrated over it. Especially Spawn of Totoro

Those are AWFUL examples. You can't pay your taxes with foreign money either, are you saying foreign money is worthless too? Also, some people do get paid in bitcoin. The internet archive pays their employees in bitcoins if they so choose to. Please stop talking pretending you know anything.

Bitcoin is a false money and a scam as it's been known that these coin exchange traders are manipulating the value of bitcoin to fill there own pockets. It's like a pyramid scheme, the person above gets your real life money while you get bitcoin that is worthless in the real world.

Bitcoin is a good idea on paper but it needs to be backed by real goverments, audited and relegated by goverment or its a big fail as it is now.

[Satoru]

Ursprünglich geschrieben von Dr. Worm:

Ursprünglich geschrieben von Spawn of Totoro:

Try and pay your taxes with it. Try and pay an employee with it.

Those are AWFUL examples. You can't pay your taxes with foreign money either, are you saying foreign money is worthless too? Also, some people do get paid in bitcoin. The internet archive pays their employees in bitcoins if they so choose to. Please stop talking pretending you know anything.

You seem to be missing the entire point. The value of a currency is the PERCEPTION of value. Bitcoin has ZERO value to those outside of a very very small minority of people. Therefore as a functional currency it is utterly and totally worthless. The point of not being able to pay taxes/employees is that the perceived value of said currency is utterly worthless. The comparison is entirely relevant to whether anyone should accept BitCoin or not.

This is aside from hugely functional issues like no actual financial backing, no regulation, no protections, etc. If I wanted a 'currency' that acted like that, I'd just use vegas poker chips. At least those have value to the Vegas prostitues, which is a lot better than BitCoin.

[Spawn of Totoro]

Ursprünglich geschrieben von Dr. Worm:

You people can't possibly be serious. The fact that absolutely nobody has done ANY research on bitcoin is laughable especially when they're getting so buttfrustrated over it. Especially Spawn of Totoro

Those are AWFUL examples. You can't pay your taxes with foreign money either, are you saying foreign money is worthless too? Also, some people do get paid in bitcoin. The internet archive pays their employees in bitcoins if they so choose to. Please stop talking pretending you know anything.

I did do reaserch, I have arued the point before too. Bitcoin is worthless to 99% of the world. Buying food? Can't use Bitcoin. Paying rent? Can't use Bitcoin. Other currancy to pay taxes? Yes you can. Taxed on income from another currancy? Yes. Taxed on Bitcoin? Nope.

What can I get with Bitcoin that is usefull and helps me survive? Nothing.

Juat because you want to buy something with worthless non-currancy does not mean that it has any real value.

A currance backed by air. Nothing there to hold it up. Atleast MS points and Facebook Points are backed by real money.

[aiusepsi]

Ursprünglich geschrieben von Dr. Worm:

You can't pay your taxes with foreign money either, are you saying foreign money is worthless too?

The difference between a currency issued by a sovereign country and Bitcoin is that currencies are essentially backed by the GDP of their respective countries; the currency is legal tender. A bitcoin is backed by nothing at all. Valve might as well get paid in TF2 earbuds.