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Bitcoin Games

Steam Computer Gaming Network Now Accepting Bitcoin (fortune.com) 54

An anonymous reader shares an article on Fortune Magazine: The popular Steam computer game network has started accepting bitcoin in a move aimed at making it easier for players in countries like Brazil and China to make payments. Bitcoin transactions will be integrated into game shopping from Steam, which is owned by Valve Software and claims over 100 million users worldwide. Users will be able to use any bitcoin wallet to scan and pay for games or other items without revealing sensitive financial information via software from Bitpay.
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Steam Computer Gaming Network Now Accepting Bitcoin

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  • by astrodoom ( 1396409 ) on Thursday April 28, 2016 @12:14PM (#52006501)
    Simple international payments for a product that doesn't require instant confirmation. Exactly what the technology was designed for! Well done, Steam.
  • First they mocked us...now Bitcoin is accepted everywhere! Even in apps!
  • by YesIAmAScript ( 886271 ) on Thursday April 28, 2016 @01:26PM (#52007269)

    Bitpay is. Valve will continue to accept only actual money. Bitpay will provide a service (for a fee) of turning your bitcoin into the actual money that Valve demands.

    • Re: (Score:3, Informative)

      by grnbrg ( 140964 )

      Well, I hate to break this to you, but Steam isn't accepting your "actual money", either.

      Your bank will provide a service (for a fee) of taking your "actual money" and provides another service (for a fee) of turning that money into an electronic ledger entry that Paypal (or Mastercard or Visa) accept and then they will provide yet another another service (for another fee) of taking that electronic ledger entry, and giving it to Valve.

      Cash for internet purchases virtually never happens. One or more intermed

      • by Anonymous Coward

        The point being made is that valve only accepts state-issued currency denominations, not the system used to process it.

        • by Anonymous Coward


          The point being made is that valve only accepts state-issued currency denominations,

          That's a direct contradiction of the article. Are you saying that if I go to the Steam website, there won't be a payment method that says bitcoin?
          That's my standard for "accepting bitcoin". Just like having a Visa payment method on the website would be my standard for "accepting Visa". Valve doesn't actually process anything, they leave that to a third party. Sometimes the merchants don't even get your credit card detail

    • by Paco103 ( 758133 ) on Thursday April 28, 2016 @01:55PM (#52007551)

      A fee of 1%, which is half or less of what a traditional credit card fee charges. Steam/Valve don't accept Credit Cards either. Visa, Mastercard, Maestro, etc will provide a service (for a fee) of turning your credit card number into the actual money that Valve demands.

      What's your point? All currency exchange is just agreed upon IOU's for goods or services. This is just one more that opens up new markets to them as well as decreases processing fees for them if existing customers jump on it.

    • by gox ( 1595435 ) on Thursday April 28, 2016 @01:58PM (#52007581)

      What goes on is conceptually same with paying with Norwegian krone, except that I do not have to keep Bitcoin in a custodial service in order to pay online.

      Whether they want to keep some krone or bitcoin around is a matter of accounting. Valve probably doesn't have operational costs they can pay with Bitcoin, but other firms might (hosting, domain registration and whatnot).

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