XRP as a payment option

[Reuben]

Valve should add the XRP token as a payment option, I won't bore you with the whitepaper (it's easily searchable) but here's a few bullet-points in favour of such a cryptocurrency being added as a payment option on Steam.

• Ripple, the parent organisation behind the token, has many partnerships with reputable banks and institutions.
  
• XRP can act as a stablecoin.
  
• Ripplenet has anti-money laundering and know your customer features, it's also many times faster than the Bitcoin network, has extremely low fees, and aims to be part of the solution to replace the aging, slow and unreliable SWIFT cross-border payments system.
  
• Having a cryptocurrency payment option on Steam would make purchases a lot more faster and convenient for many people.
  
• XRP is the only cryptocurrency with legal clarity in the U.S.

The reason why Bitcoin was removed as a payment option on Steam was because of the high fees, price volatility and fraudulent activities, something that doesn't exist for XRP.

[[?]legit]

I would welcome XRP as a pament option.

[Reuben]

Publicado originalmente por ?legit:

I would welcome XRP as a pament option.

Could you elaborate as to why? It's a pretty tough crowd here.

[rawWwRrr]

Publicado originalmente por ReubenUKGB:

Publicado originalmente por ?legit:

I would welcome XRP as a pament option.

Could you elaborate as to why? It's a pretty tough crowd here.

Because it's the unpopular opinion.

[Reuben]

Publicado originalmente por rawWwRrr:

Publicado originalmente por ReubenUKGB:

Could you elaborate as to why? It's a pretty tough crowd here.

Because it's the unpopular opinion.

What's your thoughts on it?

[rawWwRrr]

Publicado originalmente por ReubenUKGB:

Publicado originalmente por rawWwRrr:

Because it's the unpopular opinion.

What's your thoughts on it?

It's an unpopular opinion.

[HikariLight]

Valve has already stated their opinion on crypto.
They will never use it again.
It changes value on an hourly basis at minimum.
Digital currency and crypto are 2 completely different things and the world is not ready yet for digital currency.

[Reuben]

Publicado originalmente por HikariLight:

Valve has already stated their opinion on crypto.
They will never use it again.
It changes value on an hourly basis at minimum.
Digital currency and crypto are 2 completely different things and the world is not ready yet for digital currency.

Wrong.

Have you ever heard of Stablecoins? USDT, USDC... they're backed 1:1 by fiat.

[HikariLight]

Publicado originalmente por ReubenUKGB:

Publicado originalmente por HikariLight:

Valve has already stated their opinion on crypto.
They will never use it again.
It changes value on an hourly basis at minimum.
Digital currency and crypto are 2 completely different things and the world is not ready yet for digital currency.

Wrong.

Have you ever heard of Stablecoins? USDT, USDC... they're backed 1:1 by fiat.

And all it takes is the servers storing it to be shut down and 'poof', all your money is gone forever.
Also the US government does not recognize crypto as valid currency, so Valve, an American company, is not required to accept it.

[Reuben]

Publicado originalmente por HikariLight:

Publicado originalmente por ReubenUKGB:

Wrong.

Have you ever heard of Stablecoins? USDT, USDC... they're backed 1:1 by fiat.

And all it takes is the servers storing it to be shut down and 'poof', all your money is gone forever.
Also the US government does not recognize crypto as valid currency, so Valve, an American company, is not required to accept it.

Except most crypto is decentralised and the XRP Ledger hasn't had a single moment of significant downtime since its launch in 2012.

In fact, crypto, by its very nature is more resistant to downtime than a centralised currency.

Additionally, Bitcoin is about to get a BlackRock ETF and XRP has legal clarity as a commodity in the U.S.

[Mad Scientist]

Publicado originalmente por ReubenUKGB:

Publicado originalmente por HikariLight:

And all it takes is the servers storing it to be shut down and 'poof', all your money is gone forever.
Also the US government does not recognize crypto as valid currency, so Valve, an American company, is not required to accept it.

Except most crypto is decentralised and the XRP Ledger hasn't had a single moment of significant downtime since its launch in 2012.

In fact, crypto, by its very nature is more resistant to downtime than a centralised currency.

Additionally, Bitcoin is about to get a BlackRock ETF and XRP has legal clarity as a commodity in the U.S.

You do realize that the feds literally seized a server full of that "decentralized" crypto, right?

People really don't realize it's not really decentralized, a server still stores it all and servers are often seized when it comes to feds.

People are also realizing things blackrock is interested in, is usually not a good thing.

[HikariLight]

I said currency not commodity.
A commodity is something you buy and sell.
Currency is used to buy and sell.
And as I said, all it takes is the servers that the crypto is stored on to be shut down and then your fake money vanishes.
Crypto is too unstable, untraceable, and too reliant on the servers they are stored on.
There is a reason scammers and criminals are using crypto.

[Reuben]

Publicado originalmente por Mad Scientist:

Publicado originalmente por ReubenUKGB:

Except most crypto is decentralised and the XRP Ledger hasn't had a single moment of significant downtime since its launch in 2012.

In fact, crypto, by its very nature is more resistant to downtime than a centralised currency.

Additionally, Bitcoin is about to get a BlackRock ETF and XRP has legal clarity as a commodity in the U.S.

You do realize that the feds literally seized a server full of that "decentralized" crypto, right?

People really don't realize it's not really decentralized, a server still stores it all and servers are often seized when it comes to feds.

People are also realizing things blackrock is interested in, is usually not a good thing.

You can't seize any part of a blockchain, you can take control of someone's keys however.

Check out XRPs blockchain model, it can't be 51% attacked like Bitcoin as it's Proof of Authority, which is usually given to reputable financial institutions.

If you're talking about the ESG fund ruining games, that's basically over and shouldn't have an effect on your portfolio unless you emotionally invest.

Publicado originalmente por HikariLight:

I said currency not commodity.
A commodity is something you buy and sell.
Currency is used to buy and sell.
And as I said, all it takes is the servers that the crypto is stored on to be shut down and then your fake money vanishes.
Crypto is too unstable, untraceable, and too reliant on the servers they are stored on.
There is a reason scammers and criminals are using crypto.

Gold is a commodity, can be bought or sold and can be used as a backup currency to barter for goods and services, it's also being brought back as one of the commodities that will back CBDCs as the debt economy and USD dominance can't be sustained for much longer.

Central Bank-issued currency based on debt is fake money, unlike asset backed currency we had a few decades ago. Additionally, fiat can be loaned out multiple times by financial institutions to give the appearance of $1000 when really it's $100 loaned out to 10 different people, you can't do this with cryptocurrencies by their very nature.

You'd have to shutdown all the nodes of a network that exist across borders, this isn't possible as it would require a concerted effort by multiple governments and some of those government would refuse to cooperate due to being crypto friendly and would instead offer safe harbour to bolster their economy.

Transactions on the blockchain are more transparent than traditional methods as anyone with a browser can view them.

[Mad Scientist]

Publicado originalmente por ReubenUKGB:

You can't seize any part of a blockchain, you can take control of someone's keys however.

So as usual, it can be seized by an agency. As for the data, "decentralized" is still not what most crypto people think it is. If the feds seize servers which takes ownership of entire wallets, it just makes "Decentralized" mean stored in many places rather than for example, one bank. Doesn't change that these are apparently easily wiped out if you make big enough waves for government agencies to get involved.

Not to mention with the transaction fees and future taxation in addition to its unstable nature, it's definitely not an investment so much as a trend.

Overall, to the purpose of the thread. It's not coming back to Steam. They made that clear, so I would take the crypto stuff somewhere else, you're not going to convince Valve let alone users that know better.

[Reuben]

Publicado originalmente por Mad Scientist:

Publicado originalmente por ReubenUKGB:

You can't seize any part of a blockchain, you can take control of someone's keys however.

So as usual, it can be seized by an agency. As for the data, "decentralized" is still not what most crypto people think it is. If the feds seize servers which takes ownership of entire wallets, it just makes "Decentralized" mean stored in many places rather than for example, one bank. Doesn't change that these are apparently easily wiped out if you make big enough waves for government agencies to get involved.

Not to mention with the transaction fees and future taxation in addition to its unstable nature, it's definitely not an investment so much as a trend.

Overall, to the purpose of the thread. It's not coming back to Steam. They made that clear, so I would take the crypto stuff somewhere else, you're not going to convince Valve let alone users that know better.

You can seize a node but without the keys it's useless and the node can be replaced as there's redundancy built right into the protocol.

You don't know better, as shown by your statements, you've completely ignored my points. XRP has low transaction fees, it's only Bitcoin and Ethereum that has exorbitant fees, their potential has been mostly explored and other networks have surpassed them in capability, they're only propped up by whales and by virtue of being the first cryptocurrencies to appear. Additionally, Solana is more scalable than Ethereum, builds upon it (as a fork) and has significantly lower fees, as do other networks.

[76561198407601200]

Publicado originalmente por ReubenUKGB:

Valve should add the XRP token as a payment option, I won't bore you with the whitepaper (it's easily searchable) but here's a few bullet-points in favour of such a cryptocurrency being added as a payment option on Steam.

• Ripple, the parent organisation behind the token, has many partnerships with reputable banks and institutions.
  
• XRP can act as a stablecoin.
  
• Ripplenet has anti-money laundering and know your customer features, it's also many times faster than the Bitcoin network, has extremely low fees, and aims to be part of the solution to replace the aging, slow and unreliable SWIFT cross-border payments system.
  
• Having a cryptocurrency payment option on Steam would make purchases a lot more faster and convenient for many people.
  
• XRP is the only cryptocurrency with legal clarity in the U.S.

The reason why Bitcoin was removed as a payment option on Steam was because of the high fees, price volatility and fraudulent activities, something that doesn't exist for XRP.

That sounds amazing. I'm sure you will not have any issues converting that into a currency that Valve supports.