Add Litecoin as a payment option! Bitcoin is too slow and transaction fees are too high!

[The Protocols of Zion]

Bitcoin is no longer ideal for small transactions as it's too costly, please swtich to Litecoin!

[Noob_Noob]

I feel like it would be amazing if standard prices on steam get set in litecoin (LTC), or even offer that as a means of payment. Especially given bitcoin (BTC) values are so high all you see are decimal places. On top of that transaction times and costs have gone up on BTC. If the gaming community adopts a usable efficient crypto currency like LTC, then i feel gamers won't feel the high price point barrier as much i.e. paying $60 as opposed to say paying 2 LTC (kind of reminds me of arcade psychology, its only 2 tokens opposed to $X, or say the indie game there is only 1 token, and token in our case being LTC).
Then as opposed to bitcoin, well several users above have already mentioned how it isn't efficient for small purchases.

[Spawn of Totoro]

Eventual the same will be said of LTC as well, then another will take it's place. It is a never ending cycle.

[leegor]

Why is this even an argument? Bitcoin is for storage, Litecoin is for spending.

[1HP SUPER COOKIE WITH EVIL HATS]

Also dogecoins becuase we dream of the day we can purchase things with memes and dogecoins is at the Forefront of this endeavor. Also it's good for small purchases.

[Radene]

LTC will go the same way eventually. In any kind of a serious economy, stability of a currency is a rather big deal.

[finallyaDr]

There are some obvious posters who don't follow Litecoin, and have no idea what's going on with it, or even Bitcoin in general. The TDLR of Litecoin is that is upgraded its protocol this year, and has Lightning Networks under development. Thus, it will likely never run into the same issues that Bitcoin faces now. Not to mention, it needs 4 times the amount of traffic the Bitcoin blockchain already sees to reach the level of congestion Bitcoin is currently at. That alone would take years. Not to mention again, the built spam protection is has, and Lightning Network that will soon be running alongside it. Now we're talking something on the time frame of a decade, assuming it doesn't continue to evolve.

But the point is, Bitcoin doesn't work for Steam purchases. This is a given. But there are alternatives that do, and Litecoin is probably the best one out there to use alongside of Bitcoin for a few reasons: Its been around ~6 years now, and is a highly secured proof-of-work chain, exactly how the Bitcoin network is. And it is easy to switch to and use, if you are already familiar with Bitcoin. And finally, it's market is also very liquid. For the past two months, its ranked #3 behind Bitcoin and Ether. Those are really the only things that matter right now, when considering cryptocurrencies in the commercial world. Price stability is a non-issue when the receiver of a coin converts to a fiat currency right away (which most do already do with Bitcoin).

[stankiem]

Please accept Litecoin payments

I'm sure a decent chunk of your purchases are now made with Bitcoin, and you are one of the heroes of the bitcoin community for being one of the largest companies accepting it. However, Bitcoin's transaction fees are getting out of control since it is so popular, many people are moving some of their crypto to Litecoin which is rising rapidly in popularity. Can you please accept Litecoin as a payment method in the near future? As i'm sure you've noticed, accepting a new payment method brings in a lot of new customers and gives you great press.

Thanks for your time

[stankiem]

Please do this, you're also losing some business to key resell sites who accept this method already

[cSg|mc-Hotsauce]

please use the search function and add to the thread that is still here.

http://steamcommunity.com/discussions/forum/10/1291817837621194755/

[stankiem]

cSg|mc-Hotsauce eredeti hozzászólása:

please use the search function and add to the thread that is still here.

http://steamcommunity.com/discussions/forum/10/1291817837621194755/

:qr:

I just did that after I made my post.. oops =( Thanks though Didn't expect another suggestion about Litecoin within the past 24 hours lol

[think343.td]

I'd like to echo my support for this. As a couple others have pointed out, Valve may not directly support bitcoin purchases, but are able to accept them through a provider. Clearly they could have some influence on the processor adding Litecoin as well if enough customers are interested.

[General Titmouse]

I agree, this would be a nice option to have. Bitcoin is too slow. Litecoin is usually either a few minutes or even under a minute for confirmation.

[Zim2999]

I did make a similar post and didn't realize another thread existed, anyway I think it would be cool to support lite coins as its much cheaper and faster to use than bitcoins. Id buy games with LTC.

[TorMazila]

U guyz r funny. I could understand that request 4-5 years ago with LTC being mined on GPU's...

NOT NOW! You're either late, or dumb.

Something CPU/GPU-mineable is more fun 4 everyone and is way better for crypto decentralization..

[TorMazila]

finallyaDr eredeti hozzászólása:

I support this. It's cool that Steam accepts Bitcoin, but at the same time, Bitcoin isn't usable for small purchases, because the fee is too high (can range from $1-$4). Whereas with Litecoin, it's like $0.10, and will remain that way as 1) it is not even close to being congested like Bitcoin, and 2) it has upgrade paths in place to avoid becoming congested like Bitcoin.

It's never a bad idea to have more options.

Most of crypto's will face the exact same problem as they become more popular. Even worse - most crypto's have (or will end up having) insanely huge blockchain. It can easily happen that resources needed to keep the blockchain will be comparable to funds in your wallet.
Getting rid of "insanely sized" blockchain means absense of traceability for transactions which brings in potential legal issues.