Points marketplace and Crypto currencies

[「Sk™」]

Hya!

My name is Skye. I thought about the items that you can buy in the points store, and my sister who doesn't buy games but still uses Steam. I wanted her to get a few of the nice items available in the Points store but she doesn't have the points.

Why not make a Points market place, and why not later have the possibility to buy games with points. Making Points a crypto currency exclusive to the Steam platform would generate massive amounts of value to the Games and Steam it self.

But back to the point. Why not make a points marketplace, you already have a system with real money so you just copy it and change values to points.

Steam is my virtual home, and at times my only home. I would like to see my home more comfortable and beautiful than ever.

best regards,
Skye

[Joack1to]

Good idea

[feytharn]

Originally posted by スカイ:

Hya!

My name is Skye. I thought about the items that you can buy in the points store, and my sister who doesn't buy games but still uses Steam. I wanted her to get a few of the nice items available in the Points store but she doesn't have the points.

Why not make a Points market place, and why not later have the possibility to buy games with points. Making Points a crypto currency exclusive to the Steam platform would generate massive amounts of value to the Games and Steam it self.

But back to the point. Why not make a points marketplace, you already have a system with real money so you just copy it and change values to points.

Steam is my virtual home, and at times my only home. I would like to see my home more comfortable and beautiful than ever.

best regards,
Skye

Who will pay the developers for the games you buy with Steam points you got for free?

[「Sk™」]

Originally posted by feytharn:

Originally posted by スカイ:

Hya!

Why not make a Points market place, and why not later have the possibility to buy games with points.

But back to the point. Why not make a points marketplace, you already have a system with real money so you just copy it and change values to points.


best regards,
Skye

Who will pay the developers for the games you buy with Steam points you got for free?

If the points would have a crypto value it could be possible and currently the points have a value of what 10 € cents.

[Mad Scientist]

The points are essentially a light reward for making purchases on Steam, they're not meant to be currency. This has been suggested many times recently, please Search before making a thread, as you'd see all the reasons why this will not happen. It's not meant to be a rewards program for purchases over time, so much as steam-only cosmetics; even in games you largely pay for skins/items or other gear when not earned by playing which helps fund further development of games, so rewards for purchases in currency wouldn't exactly fund further development.

[「Sk™」]

Originally posted by Mr. Gentlebot:

so rewards for purchases in currency wouldn't exactly fund further development.

Well actually. If you cap the amount of points in circulation like bitcoin the value would rise, and having purchaseable items on the points marketplace and in the points store there would already be a perfect economy and market to test it out.

But this was not really my point ;)

I was more about the market place of trading items in points.

But on that crypto note, it would further development as developers would themselves receive these points when users buy their ingame items and games with them, having the crypto economy setup for the coins the value would rise and lower and developers can sell their points back into the system by trading it into FIAT currencies.

This system would first of all make any and all transactions on Steam WAY cheaper for Valve and developers as they do not need to have multiple banking and transaction fees inbetween.

There is already a huge number of points in circulation so starting this crypto thing would just make sense.

But yea. It would be cool. I'm still just wanting the points marketplace so I could get more points by selling items and trading some items to my sister.

[Mad Scientist]

We're not doing any form of crypto, it's far too volatile and could very easily be abused in the wrong hands which could actually have very severe effects. There wont be any crypto of anykind anyday soon. Devs would be wiser to make cosmetic packs like Deep Rock Galactic or other games that give non P2W options.

It would make no sense to implement what you're suggesting.

[「Sk™」]

Originally posted by Mr. Gentlebot:

it's far too volatile and could very easily be abused in the wrong hands which could actually have very severe effects.

It would make no sense to implement what you're suggesting.

Volatility only comes from open markets, like bitcoin, buy and sell on every market.

But this is a closed loop.

Verified Steam users (phone number added to profile) could only get these points by buying items in the Store, Games, DLC and other. So the money goes to the developers.

The user gets a sum of points and now could buy an item from the Market place for the game.

The seller, now had saved up some points to buy a DLC for a game they enjoyed. The seller proceeds to buy the DLC with the points, these points go to the Developer.

The developer(company) now as the pay day comes closer sells these points to Valve for FIAT currency of choice and gets the money for the employees.

Valve, now with the more points they got from the developer can put it back into circulation.

The value of the points would be based on the value of things you can buy on the platform, by so it kills the volatility and makes it to "libra" coin of sorts, The value would be very stable.

The upsides are too good for not to do this. But I know that "Steam team" is very "small" and "limited in resources" to make such things possible, but it just takes just a dm to Gaben over twitter or a board meeting to tell him about the upsides of this system to make this happen.

I made a graph and calculations of this already just to make it clear and check how the economy would work, and on paper, it works. Of course Valve could just eat up all points from the developers making the price of points sky rocket. Or a user could gobble up a massive amount of points just to control the economy like the Gold trade these days.

Valve has all the control like it or not, this is not a if question this is a matter of when.

There is no way to have outside circulation of these points as the buy and sell market is only on steam and this would finally end the external marketplaces Steam has so hardly been trying to do.

And hate to break it to you, but Valve already has a "Crypto currency" on the platform, or actually hundreds. All the items on the marketplace are a testimony of the system. But you would not be able to transfer points without buying something off the Steam platform, games, DLC or item on Steam market.

[feytharn]

Originally posted by スカイ:

Originally posted by Mr. Gentlebot:

it's far too volatile and could very easily be abused in the wrong hands which could actually have very severe effects.

It would make no sense to implement what you're suggesting.

Volatility only comes from open markets, like bitcoin, buy and sell on every market.

But this is a closed loop.

Verified Steam users (phone number added to profile) could only get these points by buying items in the Store, Games, DLC and other. So the money goes to the developers.

The user gets a sum of points and now could buy an item from the Market place for the game.

The seller, now had saved up some points to buy a DLC for a game they enjoyed. The seller proceeds to buy the DLC with the points, these points go to the Developer.

The developer(company) now as the pay day comes closer sells these points to Valve for FIAT currency of choice and gets the money for the employees.

Valve, now with the more points they got from the developer can put it back into circulation.

The value of the points would be based on the value of things you can buy on the platform, by so it kills the volatility and makes it to "libra" coin of sorts, The value would be very stable.

The upsides are too good for not to do this. But I know that "Steam team" is very "small" and "limited in resources" to make such things possible, but it just takes just a dm to Gaben over twitter or a board meeting to tell him about the upsides of this system to make this happen.

I made a graph and calculations of this already just to make it clear and check how the economy would work, and on paper, it works. Of course Valve could just eat up all points from the developers making the price of points sky rocket. Or a user could gobble up a massive amount of points just to control the economy like the Gold trade these days.

Valve has all the control like it or not, this is not a if question this is a matter of when.

There is no way to have outside circulation of these points as the buy and sell market is only on steam and this would finally end the external marketplaces Steam has so hardly been trying to do.

And hate to break it to you, but Valve already has a "Crypto currency" on the platform, or actually hundreds. All the items on the marketplace are a testimony of the system. But you would not be able to transfer points without buying something off the Steam platform, games, DLC or item on Steam market.

The downside is that, in the end, Valve has to pay the bill. Nothing you described actually creates any monetary value. When developers 'exchange' the points they have got, valve hast to pay them real money and that is the only reason why Valve would have full control.

[Radene]

Today's thread?

[「Sk™」]

Originally posted by feytharn:

The downside is that, in the end, Valve has to pay the bill. Nothing you described actually creates any monetary value. When developers 'exchange' the points they have got, valve hast to pay them real money and that is the only reason why Valve would have full control.

Where is the monetary value in any Crypto coin, for that matter in anything. Value is subjective, I see a lot of "Value" in my silver pen, you might not see the same value.

The value of the cc comes from the things you can buy on the Steam platform as I already stated, there is no way to inflate the market nor make it rise in value from the current 10 € cents or something. For anything it already has that value but having it even closed for users to use on the marketplace makes it in a sense, less in value.

And in anyway as the developers would opt for DLCs and ingame items to be purchased with Steam points it would make it cheaper for Valve as the amount of money that would go to the Payment processors would shrink.

I mean I could probably start up my own Steam competitor but it wouldn't have the amount of users Steam has nor the Developers so it would not make much sense but in the end if it grows to 10 000 users it would pay itself.

[Mad Scientist]

Originally posted by スカイ:

And hate to break it to you, but Valve already has a "Crypto currency" on the platform, or actually hundreds. All the items on the marketplace are a testimony of the system. But you would not be able to transfer points without buying something off the Steam platform, games, DLC or item on Steam market.

That's not cryptocurrency. Steam Market has actual-valuable items which translate to one fixed currency; real world money. When you sell something, Valve takes a tax from the sale as well because it's real-world currency and buying/selling of things, ie a digital storefront. It just so happens from time to time you can profit on items by like/appealing looks, rarity, and things of the sort. That's not cryptocurrency, hence why you can buy games, dlc, software, unlockables or skins with that money. Don't confuse real world money for crypto. Items/skins have value, points have no value except for client specific cosmetics and that will not change or valve would be throwing money at Devs/Publishers, it would become a huge legal mess and would likely break existing contracts, so that's a big no-no.

People need to stop suggesting crypto, there is realistically no gain to be made from it, far too easily abused/manipulated for ones own profit regardless of your intentions.

[nullable]

Originally posted by スカイ:

And hate to break it to you, but Valve already has a "Crypto currency" on the platform, or actually hundreds. All the items on the marketplace are a testimony of the system. But you would not be able to transfer points without buying something off the Steam platform, games, DLC or item on Steam market.

So then nothing needs to be done. The system you want already exists. There just isn't a way for you to benefit from it or exploit it because you weren't in on the ground floor.

It also means that if Valve wanted the points shop to be part of the "cryptocurrency" system you already claim exists they would have implemented it that way.

Take the hint. The current points shop wasn't an accident. It wasn't just made up as they went. It was planned and designed to function in a way to keep items from being resold, minimize their value and tie points directly to purchasing games. Steam is a PC Game store after all. their main goal is to sell games.

You want more points, buy more games.

[「Sk™」]

Originally posted by Mr. Gentlebot:

That's not cryptocurrency. Steam Market has actual-valuable items which translate to one fixed currency; real world money.

No you didn't get my point ;) here.

The items are the crypto currencies. Their value is just based on how much people want the item. And that is how any Crypto currency works.

See how Libra coin works to see why Valve would be the big benefitor of the system if points were a more than it is now.

Originally posted by Snakub Plissken:

So then nothing needs to be done. The system you want already exists. There just isn't a way for you to benefit from it or exploit it because you weren't in on the ground floor.

The marketplace is just an item trade for money like Bittrex or Coinbase. But there are obvious contenders to Steam marketplace that we have seen time and time again attached to gambling and other more illegal works. This could NOT happen in a points marketplace. But I'm just suggesting both to coexist.

Originally posted by Snakub Plissken:

It also means that if Valve wanted the points shop to be part of the "cryptocurrency" system you already claim exists they would have implemented it that way.

No, they would not have started it from the ground up as there would not be enough points in circulation and to test if the system is liable and working before starting something bigger.

Originally posted by Snakub Plissken:

Take the hint. The current points shop wasn't an accident. It wasn't just made up as they went. It was planned and designed to function in a way to keep items from being resold, minimize their value and tie points directly to purchasing games. Steam is a PC Game store after all. their main goal is to sell games.

You want more points, buy more games.

Ofcourse it wasn't an accident, it was just perfectly timed with the third crypto boom.

Steam is just not only a Storefront, and Valve is doing everything it can to not only be that, that is why there are friends lists and profiles and chats and voice calls and everything.

Valve wants Steam to be a platform, like Apple, a closed off garden. I'd rather stop using anything else just to use Steam but currently some features are just not in proper shape yet.


The points don't need to be crypto currency as in the way of needing to have a whole backend to support. It would just be the points that you currently have but more functionality, Marketplace and a larger points store with games and dlcs and items.

This would of course be all optional for the developers. But it would save money, on all ends.

[Mad Scientist]

Originally posted by スカイ:

No you didn't get my point ;) here.

The items are the crypto currencies. Their value is just based on how much people want the item. And that is how any Crypto currency works.

See how Libra coin works to see why Valve would be the big benefitor of the system if points were a more than it is now.

Not how it works.

If I have old school, locally manufacturer high quality steel tools that I purchased 10 years ago at a local store which are far more durable than impure imported tools of likely mixed less durable metals, they have more value by durability, rarity, and want/desire of others. So that real-world cash item I bought at a real-world store is an item bought in cash, much like how you buy a digital item with money on a digital storefront. They are not and do not resemble crypto in any fashion, they are not crypto, crypto is a digital currency that itself has value or not depending on numerous factors which is easily to manipulate when you take out the direct factor and involve systems you can highly abuse.

The item is an item, it does not magically turn into crypto. It may have value, but it's not crypto. Notice how you can also only use the money from sales within Steam itself unless you break the SSA/ToS? It's meant to only have value on Steam, Crypto has value to anywhere willing to transfer you money and is seen as largely legitimate as a currency, depending on its value and there's also fees involved for a lot of them which differ from taxes.

Please stop making horrible comparisons to push your want for crypto, it isn't going to happen and Steam basically said there's no intention to bring it back for the foreseeable future

[「Sk™」]

Originally posted by Mr. Gentlebot:

If I have old school, locally manufacturer high quality steel tools that I purchased 10 years ago at a local store which are far more durable than impure imported tools of likely mixed less durable metals, they have more value by durability, rarity, and want/desire of others.

There also again the value is also affected by need. Myself, have a coca cola collection worth hundreds of Euros that I spent on getting. Doesn't ever mean that I would get any of the money back. First rule in finance and economics is that is not personal, and then second that value is only as much as someone would pay for it. If you speak Swedish or are up for translating, I recommend the book "Ekonomi" and then also the book "Das Kapital" by Karl Marx.

Originally posted by Mr. Gentlebot:

So that real-world cash item I bought at a real-world store is an item bought in cash, much like how you buy a digital item with money on a digital storefront. They are not and do not resemble crypto in any fashion, they are not crypto, crypto is a digital currency that itself has value or not depending on numerous factors which is easily to manipulate when you take out the direct factor and involve systems you can highly abuse.

I'm not comparing anything to crypto nor FIAT. Please note that Gold only has the value it has now because of the economic market. Hate to break it to you but Digital items do not have any real world value. You can read more on the article by the Economist "Technology is poised to upend America’s property market" /2020/02/15

Originally posted by Mr. Gentlebot:

The item is an item, it does not magically turn into crypto. It may have value, but it's not crypto. Notice how you can also only use the money from sales within Steam itself unless you break the SSA/ToS? It's meant to only have value on Steam, Crypto has value to anywhere willing to transfer you money and is seen as largely legitimate as a currency, depending on its value and there's also fees involved for a lot of them which differ from taxes.

I did say that the items are like crypto, you can trade the items on the platform and have monetary transactions elsewhere, but with points, you only would have the possibility to transfer on Steam. Crypto currencies tend to have a backend that is hosted by the peers. But the only peer would be Valve. So in that sense the market would be Digital FIAT, whatever name you give it, the Points should have the possibilty to be used for more than just the items in the Points store.

Originally posted by Mr. Gentlebot:

Please stop making horrible comparisons to push your want for crypto, it isn't going to happen and Steam basically said there's no intention to bring it back for the foreseeable future

Please read more about crypto currencies and FIAT and monetary values. I have recommended some books and articles. If you like more information I recommend the investopedia for terms and knowledge bases.