Accept Nano (crypto) as a feeless payment option

[Meides]

I'd like to suggest to add Nano, a crypto, as a payment option for Steam. My reasons for this:

1. It's a feeless crypto. The cost savings for Steam, even after using a crypto exchange to convert to USD, would be literally millions. Keep some for Steam, and pass some on to us in cheaper prices, we're all happy.
   
2. It's an instant crypto. I know Bitcoin was accepted before, but that had issues because the price would literally change between sending Bitcoin and it arriving minutes if not hours later. Nano takes literally 0.2 seconds to fully settle, and can be instantly exchanged into dollars.
   
3. It's great for the environment. Nano is extremely energy efficient, the whole network could run on the power output of a single wind turbine.
   
4. It makes it fantastically easy to purchase from anywhere in the world. When I'm abroad it's surprisingly difficult to pay for stuff on Steam. Nano knows no borders, so it seems perfect for this.
   
5. It's 100% secure. PayPal sometimes gives trouble, payment processors go offline and such. Nano has been online for over 5 years, over 70 million transactions done, with not a single missed transaction.

Implementing it shouldn't be hard, a lot of services/exchanges/businesses have done so already. If there are any difficulties, I'm sure the Nano Foundation would love to help out: https://nano.org/connect.

Thanks for considering this suggestion.

[Nx Machina]

引用自 cinedine：

Not for Steam, though.

The point I was making to the OP is that they sung the praises of Nano as been stable and a viable payment option for Steam but as you clearly point out and I agree with.

引用自 cinedine：

And that's were pretty much all crpyto suggestions fail: they pitch the currency. Steam doesn't care. The studios don't care. They want fiat money. They *need* fiat money for their accounting and taxes.
How much income tax do you pay for 22,245 Nano?

What they need to pitch is a reliable payment provider that takes crypto and pays in fiat.

[Walach]

From my knowledge, and I know almost nothing about these sort of things, is that people use them as investments or even as some sort of "stock" and sell them when the price is high and buy when the price is low. And I can't really see that as a good thing.

Would you want payment in something that you would have to change into something else, like money? It feels to me like to much of a hassle and even risk. You'll accept it if you knew the risks and how much more you could gain from it.

Like for example if I were to give you a goat for that song you made, the goat would make you a lot of cash but who to sell it to? Maybe you can use the goat yourself but how would you pay for electricity if all you have are goats? :P

But again, I know nothing about this and those things I mentioned are the only things I can think of when hearing of these "coins".

People who have them want them to be accepted everywhere so they can then use them up. People outside it doesn't seem to want these things, but that might be how everything works aswell. :P

[Nx Machina]

引用自 Senatus：

Sorry, how do you see this differing from using a gift card?

Do you buy gift cards using false information?

引用自 Senatus：

No, I don't.

Not the impression I get.

引用自 Senatus：

For Valve, or anyone wanting to check out what I'm talking about. You can't buy Nano there, I'd have linked to an exchange for that.

Why do WE the users on those forum need to check out that link? We do not.

This is a suggestion/idea forum not a forum promoting Nano but my viewpoint is kind of skewed to what I see as a promotion as I work in advertising and why I saw the Op post as a sales pitch.

[Meides]

引用自 Walach：

From my knowledge, and I know almost nothing about these sort of things, is that people use them as investments or even as some sort of "stock" and sell them when the price is high and buy when the price is low. And I can't really see that as a good thing.

For many people this is the case, yes. I'd say for Bitcoin this is mostly the case, because it's not really usable as money. It's definitely not the idea behind Nano though. If that's what I wanted, I'd be trying to get people to invest in it, rather than here talking about how Steam could save money by using it and immediately exchanging it into USD haha.

Would you want payment in something that you would have to change into something else, like money? It feels to me like to much of a hassle and even risk. You'll accept it if you knew the risks and how much more you could gain from it.

If I was a merchant and I could choose to accept EUR with a 3% fee or accept payment in some online currency that I could instantly, automatically exchange into EUR for a 0.25% fee, yes, I would prefer the latter. Wouldn't you?

But again, I know nothing about this and those things I mentioned are the only things I can think of when hearing of these "coins".

People who have them want them to be accepted everywhere so they can then use them up. People outside it doesn't seem to want these things, but that might be how everything works aswell. :P

Heh, it's a fair point. Nano aims to be a currency, and just like any currency it's more useful the more places you can spend it. I think it's pretty fantastic to have a currency I can spend anywhere in the world without fees instantly, without fear of a central bank printing more and therefore devaluing the value of my money. That's why I, and many others, are excited about Nano. In this case though, I'd say that it's also attractive for people who have no interest in having Nano simply because it's a cheaper method to accept payments.

Do you buy gift cards using false information?

I.. buy them in regular shops, they don't ask me for any information?

Not the impression I get.

I mean, that's fine. There's a Nano Foundation, their budget is extremely low and they literally wouldn't have the money to pay for people to do this stuff. I'm just enthusiastic about the idea.

Why do WE the users on those forum need to check out that link? We do not.

This is a suggestion/idea forum not a forum promoting Nano but my viewpoint is kind of skewed to what I see as a promotion as I work in advertising and why I saw the Op post as a sales pitch.

I posted it as a suggestion - anyone interested in commenting on the suggestion can do so, as many are doing here thankfully. However, since I figured many would want some more info before giving an opinion on it, I included the information to the website. The website is owned by a Foundation without any profit incentive, it's just there to give more information about how the crypto works.

Either way, I think we're losing track of the original suggestion which was very simply to add this as a payment option. Not the default one, but just as an option. I think there's a fairly large group of people that would want to use it, and every person that uses it saves Steam payment processing fees that could them be used to slightly adjust the prices on games (good for us) or make Steam more profit (good for them).

[Bonnily]

I don't see why some people here hate so much on the idea, it literally affects you 0% as an additional option if you don't want to use it then DON'T?! You can still pay as normal??

Personally, I am all for it, I like crypto as a concept, the currency of the people instead of governments and all that. Sadly it turned out that Bitcoin is too slow, too expensive and a bother so Steam dropped it rightfully so, but Nano seems to solve all that so maybe give it a look. :)

[milltay]

引用自 Nx Machina：

引用自 Senatus：

Sorry, how do you see this differing from using a gift card?

Do you buy gift cards using false information?

引用自 Senatus：

No, I don't.

Not the impression I get.

引用自 Senatus：

For Valve, or anyone wanting to check out what I'm talking about. You can't buy Nano there, I'd have linked to an exchange for that.

Why do WE the users on those forum need to check out that link? We do not.

This is a suggestion/idea forum not a forum promoting Nano but my viewpoint is kind of skewed to what I see as a promotion as I work in advertising and why I saw the Op post as a sales pitch.

You are incredibly obnoxious to engage with. I read this whole thread. What part of any of what Senatus was saying do you not comprehend? He has been very clear from start to finish.

There is no risk to Steam or any other company accepting nano if they choose to have it convert to USD or EUR or any other currency they want instantly.

The transaction times on Nano are sub second and steam could receive any currency they want in less than 2 seconds with the proper implementation and not have to pay the extra payment processing fees that Visa, Mastercard or any other processor charge. Can be quite high for certain processors.

Can be quite expensive for companies and that would be eliminated with no additional risk.

What are you? 13 years old? Learn to communicate, you child.

[iveSEALEDurFATE]

I've read this entire thread with interest, you guys have brought up some really good points. The most enlightened idea raised so far is the idea that cryptocurrencies are investments, held by individuals looking for a fast return. The subtext has been that anyone promoting a crypto is likely trying to increase the value of their investment by getting new money involved in the project.

This has to change. If cryptocurrencies are going to improve our lives for the better, which was the dream of Satoshi, then they need to fulfill their original purpose which is to be used as currency. Crypto must be first and foremost be useful for purchasing goods and services.

I applaud Colin Lemahieu for creating our best chance so far at a real crypto "currency". Nano is the best opportunity out there that could make this dream a reality, and I am watching closely.

[nullable]

引用自 Bonnily：

I don't see why some people here hate so much on the idea, it literally affects you 0% as an additional option if you don't want to use it then DON'T?! You can still pay as normal??

I mean I guess it would be nice if users never criticized half-baked and self-serving ideas. That's not going to cause Valve to implement them. But users will just bellyache about Valve never listens to them, convinced their idea is reasonable because they never had any opposition.

You can't protect half-baked ideas from scrutiny forever. If they can't handle being run through the wringer on the forums, you think everyone in Valve vetting the idea will be kinder? You think you can chide Valve staff into not hating on the idea as it effects them 0% to offer an additional option?

The discussion about an idea, like it or not, may yield some of the reasons why it's not implemented, or never implemented.

引用自 Bonnily：

Personally, I am all for it, I like crypto as a concept, the currency of the people instead of governments and all that. Sadly it turned out that Bitcoin is too slow, too expensive and a bother so Steam dropped it rightfully so, but Nano seems to solve all that so maybe give it a look. :)

Is that why Steam dropped Bitcoin? It's too slow? And expensive? Those are the only reasons? Or is that just an argument of convenience that makes Nano sound more attractive in your mind and obviously worth looking at since it addresses "all" the previous issues?

[ReeverM]

引用自 Snakub Plissken：

Is that why Steam dropped Bitcoin? It's too slow? And expensive? Those are the only reasons? Or is that just an argument of convenience that makes Nano sound more attractive in your mind and obviously worth looking at since it addresses "all" the previous issues?

As you'll see in the linked post, yes
https://steamcommunity.com/games/593110/announcements/detail/1464096684955433613

[cinedine]

引用自 milltay：

There is no risk to Steam or any other company accepting nano if they choose to have it convert to USD or EUR or any other currency they want instantly.

That you know of.
I for one don't know whether trade supervision has clear restrictions and/or procedures for accepting cryptos directly. Do you?

Also so far there has been no point brought up why Steam could profit from it? You want a way for your friends to use money you transfer to them? Buy a digital gift card. No fees involved at all. Else why should Valve eat a fee no matter how small just so you don't have to while converting it to fiat? apparently it's quick and easy to do so.

[ReeverM]

引用自 cinedine：

引用自 milltay：

There is no risk to Steam or any other company accepting nano if they choose to have it convert to USD or EUR or any other currency they want instantly.

That you know of.
I for one don't know whether trade supervision has clear restrictions and/or procedures for accepting cryptos directly. Do you?

Also so far there has been no point brought up why Steam could profit from it? You want a way for your friends to use money you transfer to them? Buy a digital gift card. No fees involved at all. Else why should Valve eat a fee no matter how small just so you don't have to while converting it to fiat? apparently it's quick and easy to do so.

There is a fee when buying the card.

[Radene]

引用自 Bonnily：

Personally, I am all for it, I like crypto as a concept, the currency of the people instead of governments and all that.

Please. The moment it becomes mainstream they'll become fiat. "Blockchain" is just a fancy word, not a silver bullet.

[ReeverM]

引用自 Radene：

引用自 Bonnily：

Personally, I am all for it, I like crypto as a concept, the currency of the people instead of governments and all that.

Please. The moment it becomes mainstream they'll become fiat. "Blockchain" is just a fancy word, not a silver bullet.

引用自 Investopedia：

Fiat money is government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it.

Something like Bitcoin or Nano are not, by definition, fiat money. They cannot become fiat money.

[cinedine]

引用自 ReeverM：

引用自 Radene：

Please. The moment it becomes mainstream they'll become fiat. "Blockchain" is just a fancy word, not a silver bullet.

引用自 Investopedia：

Fiat money is government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it.

Something like Bitcoin or Nano are not, by definition, fiat money. They cannot become fiat money.

Define Taler ;)

[Crashed]

引用自 cinedine：

引用自 Senatus：

• It's great for the environment. Nano is extremely energy efficient, the whole network could run on the power output of a single wind turbine.

You are kidding yourself. You are STILL converting electricity into heat that cannot be converted back. There is no way around it. Yo uare wasting energy. Period.
And it doesn't matter whether you can run it on a single wind turbine. If that turbine is not running you have to get your energy elsewhere. Which in 99/100 cases mean conventional energy. Which means coal in most countries.

Glad I managed to get my GPU before the miners completely gobbled up the supply.