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Set your region and speed
I could be wrong but I think he is more concerned about max download speed. The setting you are directing him to is to limit the download speed. If you don't put anything in there it will download at max speed it can.
Oh, okay! Thank you very much.
I know what you mean, but I recently upgraded my internet. I looked for a place to switch it. I know that there is no adverse affects from this option, but when i install a game it tells me that it will take forever, and it would be nice to know an actual estimate for how long it would take. Yeah, I know there is one when it starts downloading, but still if they have it as a choice on initial install of steam, you would think they would still allow you to change it later.
There is another option under downloads that does limit your rate.
I know exactly what my connection speed is, and before starting the download, it shows the file size, but I shouldn't have to pull out a calculator to figure out how long it'll take. Every other download client since about the 1980s has this feature yet Steam doesn't? I just don't get it.
I understand removing the automatically calculated stuff as the default settings because all the n00bs were complaining that it was never accurate. But it really wouldn't be hard to ask the user to input it, or if they really have no idea, to click a button that says "let Steam figure it out based on the average speed of the last 3 downloads" or something.
Also going to Steam > Settings > Downloads only gives me the option to restrict my speed/bandwidth and shows my download location.
Mbps = Megabits per second
There's a difference, you're obviously not aware of the difference. One byte is 8 bits.