Should STEAM Accept Shiba Inu Crypto as currency?

[Mayhem]

I think Steam needs to accept Shiba Inu coin as payment! It would be awesome to buy games with Shib!!

[UCEY]

Цитата допису TheGraveDigger:

I could see a reason why steam doesn't use cryptocurrency due to refund issues, steam refunds have to give back the exact value you paid
and it's harder to give the exact value for crypto because of the constant fluctuation in its value

There's also no telling when it might become worthless, which would mean that Valve loses money

[TheGraveDigger]

Цитата допису Hans!:

Цитата допису TheGraveDigger:

I could see a reason why steam doesn't use cryptocurrency due to refund issues, steam refunds have to give back the exact value you paid
and it's harder to give the exact value for crypto because of the constant fluctuation in its value

There's also no telling when it might become worthless, which would mean that Valve loses money

true

[Mad Scientist]

Цитата допису TheGraveDigger:

I could see a reason why steam doesn't use cryptocurrency due to refund issues, steam refunds have to give back the exact value you paid
and it's harder to give the exact value for crypto because of the constant fluctuation in its value

Brought this up in many crypto threads, people don't realize that they can essentially predict, and steal from Valve based upon this fact. Not only commercial activity but basically defrauding valve by market manipulation, which they are not fond of.

Цитата допису Aachen:

:homelol: For how many years must we wait another six months to see ethereum move away from its current consensus mechanism?

It was "two weeks" a year ago as well.

[Aachen]

Цитата допису Mr. Gentlebot:

It was "two weeks" a year ago as well.

IIRC it originated in the 2013 whitepaper (which, personally, would be impressive even for Valve Time).

[FOXDUDE69]

Цитата допису Mr. Gentlebot:

Цитата допису TheGraveDigger:

I could see a reason why steam doesn't use cryptocurrency due to refund issues, steam refunds have to give back the exact value you paid
and it's harder to give the exact value for crypto because of the constant fluctuation in its value

Brought this up in many crypto threads, people don't realize that they can essentially predict, and steal from Valve based upon this fact. Not only commercial activity but basically defrauding valve by market manipulation, which they are not fond of.

This is actually not a problem at all.
1 Doge is 1 Doge.
Guy is not happy with the game in the first 15 days, he gets his 1 Doge back.

You don't seem to be aware that the value of fiat currencies also fluctuates. Fiat currencies are what you'd call "normal money", by the way.
Anyway. The value of the Euro relative to the US Dollar has fluctuated by as much as 3.44% this month. And as much as 8.943% if you look at the whole year.
It's price relative to the dollar is of no consequence when issuing a refund because because if you pay a Euro, you get refunded a Euro. Crypto would be no different.

Also, anyone that says they can predict the price of any given Crypto both in the short or long term is lying to you.

[Start_Running]

Цитата допису FOXDUDE69:

Цитата допису Mr. Gentlebot:

Brought this up in many crypto threads, people don't realize that they can essentially predict, and steal from Valve based upon this fact. Not only commercial activity but basically defrauding valve by market manipulation, which they are not fond of.

This is actually not a problem at all.
1 Doge is 1 Doge.
Guy is not happy with the game in the first 15 days, he gets his 1 Doge back.

And if Doge was a proper currency that would be no problem. But when you potentially have to acquire Doge to pay back DOge the amount of real money yopu have to spend can be way more than you actually got.

You don't seem to be aware that the value of fiat currencies also fluctuates. Fiat currencies are what you'd call "normal money", by the way.

Yeah but the fluctuate within predictable arcs and are not wholly dictated by speculative forces.

Anyway. The value of the Euro relative to the US Dollar has fluctuated by as much as 3.44% this month. And as much as 8.943% if you look at the whole year.

And that's factored into conversion. On the other hand Cryptos can spike like crazy within a day. You get COnman Musk making an ambigious tweet and the value jumps 100%. Normal currencies don;'t do that. Normal stocks seldom do that , thanks to actual regulator oversight. DOghe, Bitcon, and just about every other crypto operates in the same manner as a pyyramid scheme....well it did. Seems to be transitioning to unrefgulated tax haven now .

If crypto is so great then people can easily convert it to real money and spend that. The fact that its not quite convenient or easy to do that kinda shows the problem.

[FOXDUDE69]

Цитата допису Start_Running:

And if Doge was a proper currency that would be no problem. But when you potentially have to acquire Doge to pay back DOge the amount of real money yopu have to spend can be way more than you actually got.

You don't have to acquire Doge, you still have the Doge you just got payed less than 15 days ago. You simply need to give it back.

Цитата допису Start_Running:

Yeah but the fluctuate within predictable arcs and are not wholly dictated by speculative forces.

Oh really? You must be a multi-billionaire by now, because that kind of knowledge would allow you to completely dominate the foreign exchange market.

And even you could predict it, it wouldn't matter, because you'd be getting a refund in the same currency you payed in, not another one. I explained this in the very post you took my quotes from, lol.

Цитата допису Start_Running:

On the other hand Cryptos can spike like crazy within a day.

So? 1 Doge is still 1 Doge. Just give the guy back his 1 Doge. It's value relative to the USD is immaterial in the case of a refund, just like the value of the Euro relative to the USD also doesn't factor into the transaction, because you are being payed back in the same currency you payed with. Again, this was already explained.

Цитата допису Start_Running:

If crypto is so great then people can easily convert it to real money and spend that. The fact that its not quite convenient or easy to do that kinda shows the problem.

Liquidity is not an issue.

[UCEY]

Цитата допису FOXDUDE69:

Цитата допису Start_Running:

On the other hand Cryptos can spike like crazy within a day.

So? 1 Doge is still 1 Doge.

And 1 Doge is worthless without money to back it up, just like money is worthless without gold in the bank. You spend a certain amount of money to acquire cryptocurrency, and the value of which fluctuates a lot, and often times overnight, while the value of physical money is a lot more predictable in its fluctuations.

Say you bought a game for 60 Doge, which are worth $1 each. Then the next day, Doge becomes worthless. That's 60 worthless currency items and $60 the company loses.

[Mad Scientist]

Цитата допису Hans!:

Цитата допису FOXDUDE69:

So? 1 Doge is still 1 Doge.

And 1 Doge is worthless without money to back it up, just like money is worthless without gold in the bank. You spend a certain amount of money to acquire cryptocurrency, and the value of which fluctuates a lot, and often times overnight, while the value of physical money is a lot more predictable in its fluctuations.

Say you bought a game for 60 Doge, which are worth $1 each. Then the next day, Doge becomes worthless. That's 60 worthless currency items and $60 the company loses.

the other user misses the point, entirely in regard to manipulation. Buy something for 100 coins, suddenly its currency-backed value changes and they need to get 500 coins during a refund, then waits for it to go up and sells 500 coins at the inflated value. Whereas 1 standard currency is 1 of itself, a coin can vary in value to currency, which is what backs and makes possible most crypto; as you said, being backed by currency.

You won't see many people defending crypto do so from the obvious issues or more of a point of reality than fantasy.

[76561198407601200]

Цитата допису Mr. Gentlebot:

Цитата допису Hans!:

And 1 Doge is worthless without money to back it up, just like money is worthless without gold in the bank. You spend a certain amount of money to acquire cryptocurrency, and the value of which fluctuates a lot, and often times overnight, while the value of physical money is a lot more predictable in its fluctuations.

Say you bought a game for 60 Doge, which are worth $1 each. Then the next day, Doge becomes worthless. That's 60 worthless currency items and $60 the company loses.

the other user misses the point, entirely in regard to manipulation. Buy something for 100 coins, suddenly its currency-backed value changes and they need to get 500 coins during a refund, then waits for it to go up and sells 500 coins at the inflated value. Whereas 1 standard currency is 1 of itself, a coin can vary in value to currency, which is what backs and makes possible most crypto; as you said, being backed by currency.

You won't see many people defending crypto do so from the obvious issues or more of a point of reality than fantasy.

If people would search for "itchy and scratchy money" on youtube, they would see exactly how crypto currency functions.

[FOXDUDE69]

Цитата допису Hans!:

And 1 Doge is worthless without money to back it up, just like money is worthless without gold in the bank. You spend a certain amount of money to acquire cryptocurrency, and the value of which fluctuates a lot, and often times overnight, while the value of physical money is a lot more predictable in its fluctuations.

Just so you know, fiat currencies were decoupled from gold half a century ago. There's no gold in the bank to back up your money. Sorry to break that to you.

Additionally, once Crypto reaches mass adoption, the market cap of blue chip coins will be so large that it 'll basically see fluctuations similar to what fiat has today.
Any person familiar with the crypto market will tell you that the larger the market cap, the more stable it is.

Of course this will also mean that by then, you will not see explosive gains the way you see now, so it would actually be smarter to accept crypto as payment before it reaches mass adoption.

This is why when 50 Cent accepted BTC for his album in 2014, he made 460.000 dollars worth of BTC then, but he held that Crypto, which was worth 8 million in 2019, and assuming he's still holding it, it's over 40 million dollars today.

Yes, the market has massive swings today, but overall it's moving upwards and outperforming the best stocks out there. Meanwhile, Fiat is constantly losing it's value.

In other words, what do you think is more valuable? A currency that loses value steadily as time goes by? or a volatile currency that keeps increasing in value over time?

This is why financially educated people don't leave their money parked in the bank. They invest in stock and blue chip cryptos, but the ones who've seen the biggest gains this year where the ones investing in smaller cap coins.

You'd have to accept some shady scam coin for your game in order to lose money.

[Judgmental Amaterasu]

Цитата допису FOXDUDE69:

Цитата допису Hans!:

And 1 Doge is worthless without money to back it up, just like money is worthless without gold in the bank. You spend a certain amount of money to acquire cryptocurrency, and the value of which fluctuates a lot, and often times overnight, while the value of physical money is a lot more predictable in its fluctuations.

Just so you know, fiat currencies were decoupled from gold half a century ago. There's no gold in the bank to back up your money. Sorry to break that to you.

Additionally, once Crypto reaches mass adoption, the market cap of blue chip coins will be so large that it 'll basically see fluctuations similar to what fiat has today.
Any person familiar with the crypto market will tell you that the larger the market cap, the more stable it is.

Of course this will also mean that by then, you will not see explosive gains the way you see now, so it would actually be smarter to accept crypto as payment before it reaches mass adoption.

This is why when 50 Cent accepted BTC for his album in 2014, he made 460.000 dollars worth of BTC then, but he held that Crypto, which was worth 8 million in 2019, and assuming he's still holding it, it's over 40 million dollars today.

Yes, the market has massive swings today, but overall it's moving upwards and outperforming the best stocks out there. Meanwhile, Fiat is constantly losing it's value.

In other words, what do you think is more valuable? A currency that loses value steadily as time goes by? or a volatile currency that keeps increasing in value over time?

This is why financially educated people don't leave their money parked in the bank. They invest in stock and blue chip cryptos, but the ones who've seen the biggest gains this year where the ones investing in smaller cap coins.

You'd have to accept some shady scam coin for your game in order to lose money.

Future "what ifs" have zero bearing on current market behavior.

[Mad Scientist]

Цитата допису The Living Tribunal:

If people would search for "itchy and scratchy money" on youtube, they would see exactly how crypto currency functions.

Seems accurate, especially since most things that actually matter can't be paid for with crypto.

Цитата допису Damp Wizard Sleeve:

Future "what ifs" have zero bearing on current market behavior.

Not to mention constantly trying to sell things to uninterested people that know better by over-use of buzzwords and attempting to put down people for not adopting it, is basically something I'd see a cult do than investors.

Still can't pay my supplier, mechanic, grocer, insurance or contracted construction company with it. Or really of anything that matters.

[UCEY]

Цитата допису FOXDUDE69:

Цитата допису Hans!:

And 1 Doge is worthless without money to back it up, just like money is worthless without gold in the bank. You spend a certain amount of money to acquire cryptocurrency, and the value of which fluctuates a lot, and often times overnight, while the value of physical money is a lot more predictable in its fluctuations.

Just so you know, fiat currencies were decoupled from gold half a century ago. There's no gold in the bank to back up your money. Sorry to break that to you.

Additionally, once Crypto reaches mass adoption, the market cap of blue chip coins will be so large that it 'll basically see fluctuations similar to what fiat has today.
Any person familiar with the crypto market will tell you that the larger the market cap, the more stable it is.

Of course this will also mean that by then, you will not see explosive gains the way you see now, so it would actually be smarter to accept crypto as payment before it reaches mass adoption.

This is why when 50 Cent accepted BTC for his album in 2014, he made 460.000 dollars worth of BTC then, but he held that Crypto, which was worth 8 million in 2019, and assuming he's still holding it, it's over 40 million dollars today.

Yes, the market has massive swings today, but overall it's moving upwards and outperforming the best stocks out there. Meanwhile, Fiat is constantly losing it's value.

In other words, what do you think is more valuable? A currency that loses value steadily as time goes by? or a volatile currency that keeps increasing in value over time?

This is why financially educated people don't leave their money parked in the bank. They invest in stock and blue chip cryptos, but the ones who've seen the biggest gains this year where the ones investing in smaller cap coins.

You'd have to accept some shady scam coin for your game in order to lose money.

There's a lot of "what ifs" in that statement. Cryptocurrencies are a risky investment and you're better off using cold, hard cash instead of fake internet money

[Start_Running]

Цитата допису FOXDUDE69:

Цитата допису Start_Running:

And if Doge was a proper currency that would be no problem. But when you potentially have to acquire Doge to pay back DOge the amount of real money yopu have to spend can be way more than you actually got.

You don't have to acquire Doge, you still have the Doge you just got payed less than 15 days ago. You simply need to give it back.

Not necessarily. You really don'tt understand how money flows in businesses do you? But even if it did work that way. RTthat'd be even worse. if Valve is obligated to hoklding on to Dogeshit for 15 days. before liquidating it so they can pay the pubs in real money because you know, real money is infinitely more flexible and versatile, well then you have a problem . If the value takes a nose dive... then Valve has to pay out more money than the dogeshit is worth.

And when you're talking about a business on the the scale of Valve that can basically count for millions even billions in loss.

Цитата допису Start_Running:

Yeah but the fluctuate within predictable arcs and are not wholly dictated by speculative forces.

Oh really? You must be a multi-billionaire by now, because that kind of knowledge would allow you to completely dominate the foreign exchange market.

That's rather irrelevant to the discussion. Especially since it doesn't say anything against the clearly obvious point. Businesses thatfind themselves dealing with foreign currency conversion acytually account for those fluctuations in things like pricing. A common way is to ghave the pricing shift dynamically to keep pace with the exchange rate of thhe bank you're using. You set a price in $10 US and the person using another currency pays however much of their currency equals $10 US at that ttime.

Liquidity is not an issue.

It is actually a very key issue. And Cryptos are very Fluid because despite what they are called they are not currency.. they're more akin to stocks and bonds.