Gabe Newell stated why crypto was abandoned: 50% of all transactions were fraudulent.

Originally posted by InternetFren:

Bringing back cryptocurrencies for purchases

Given the recent controversy regarding payment processors like VISA/Mastercard with their soft power making moral judgments on legal content; wouldnt it be best for Steam to revive accepting crypto currencies for purchases (at least the stable ones that aren't a scam)?

And politically speaking, the current US administration is investing alot into crypto too, as well as other governments.

https://www.pcgamer.com/50-of-transactions-were-fraudulent-when-steam-accepted-bitcoin-for-payments-says-gabe-newell/

Any payment method that is dependent in its obtainability or exchangability to another payment method will make ideas such as this one obsolete because credit card companies will still be part of this dependency chain and will pressure the lower level of the dependency chain to cease and desist, be it Valve directly, any retail store or exchange hub, any other payment method that uses credit cards, both virtual and real.

The issue is not how Steam gets the money for the questionable content, but the fact that Steam gets money for the questionable content. Offering certain games on Steam alone is enough to enforce a cease and desist, no matter the payment method; Neither Visa nor Mastercard want to be held liable for the sale of (potentially) questionable content.

Originally posted by Nx Machina:

Gabe Newell stated why crypto was abandoned: 50% of all transactions were fraudulent.

I agree that was the case during the time, but what about nowadays? Like the technology and principles have evolved.

Originally posted by Ettanin:

Any payment method that is dependent in its obtainability or exchangability to another payment method will make ideas such as this one obsolete because credit card companies will still be part of this dependency chain and will pressure the lower level of the dependency chain to cease and desist, be it Valve directly, any retail store or exchange hub, any other payment method that uses credit cards, both virtual and real.

The issue is not how Steam gets the money for the questionable content, but the fact that Steam gets money for the questionable content. Offering certain games on Steam alone is enough to enforce a cease and desist, no matter the payment method; Neither Visa nor Mastercard want to be held liable for the sale of (potentially) questionable content.

So even if you didnt use VISA or Mastercard for those purchases, they would still be annoyed by the fact that questionable (but legal) content is hosted on Steam?

Originally posted by InternetFren:

Originally posted by Ettanin:

Any payment method that is dependent in its obtainability or exchangability to another payment method will make ideas such as this one obsolete because credit card companies will still be part of this dependency chain and will pressure the lower level of the dependency chain to cease and desist, be it Valve directly, any retail store or exchange hub, any other payment method that uses credit cards, both virtual and real.

The issue is not how Steam gets the money for the questionable content, but the fact that Steam gets money for the questionable content. Offering certain games on Steam alone is enough to enforce a cease and desist, no matter the payment method; Neither Visa nor Mastercard want to be held liable for the sale of (potentially) questionable content.

So even if you didnt use VISA or Mastercard for those purchases, they would still be annoyed by the fact that questionable (but legal) content is hosted on Steam?

yes and cease business with Valve, directly and indirectly, as a consequence.

Originally posted by InternetFren:

Originally posted by Nx Machina:

Gabe Newell stated why crypto was abandoned: 50% of all transactions were fraudulent.

I agree that was the case during the time, but what about nowadays? Like the technology and principles have evolved.

Originally posted by Ettanin:

Any payment method that is dependent in its obtainability or exchangability to another payment method will make ideas such as this one obsolete because credit card companies will still be part of this dependency chain and will pressure the lower level of the dependency chain to cease and desist, be it Valve directly, any retail store or exchange hub, any other payment method that uses credit cards, both virtual and real.

The issue is not how Steam gets the money for the questionable content, but the fact that Steam gets money for the questionable content. Offering certain games on Steam alone is enough to enforce a cease and desist, no matter the payment method; Neither Visa nor Mastercard want to be held liable for the sale of (potentially) questionable content.

So even if you didnt use VISA or Mastercard for those purchases, they would still be annoyed by the fact that questionable (but legal) content is hosted on Steam?

Yes. There are already non-Visa/MC payment options available on Steam. Adding another non-Visa/MC payment option, crypto or otherwise, doesn't negate the issue at hand.

Originally posted by InternetFren:

Given the recent controversy regarding payment processors like VISA/Mastercard with their soft power making moral judgments on legal content; wouldnt it be best for Steam to revive accepting crypto currencies for purchases (at least the stable ones that aren't a scam)?

And politically speaking, the current US administration is investing alot into crypto too, as well as other governments.

You can put lipstick on the pig and it will still be a pig. Cryptoscam will always be cryptoscam no matter what you call it or how you dress it up until it is subject to the same regulations, oversight, and limitations of actual economic currency. The fact that corrupt individuals, even in high levels of government are attempting to use crypto to profit only enforces that point.

Given Valve's own experiment with crypto, hahaha, you can forget it man.

Originally posted by InternetFren:

Given the recent controversy regarding payment processors like VISA/Mastercard with their soft power making moral judgments on legal content; wouldnt it be best for Steam to revive accepting crypto currencies for purchases (at least the stable ones that aren't a scam)?

Valve hasn't forgot about cryptocurrencies. If they want to accept them, they will. If they don't, they won't. It's not like they needed an excuse to do so.

That being said accepting other FOP's doesn't negate Valve's need for Visa/MasterCard. So your logic, may not be as relevant as you imagine.

Having other FOP's available also won't impact Valve's need to comply with Visa and MC terms.

Originally posted by InternetFren:

And politically speaking, the current US administration is investing alot into crypto too, as well as other governments.

To my knowledge Valve isn't very political, "politically speaking". So also not a very relevant argument. Valve will accept crypto when it make sense for them to do it. Maybe when Amazon accept it, it might start to be more attractive.

Originally posted by Thermal Lance:

Given Valve's own experiment with crypto, hahaha, you can forget it man.

Well forever is a long time. I might not have been right seven years ago, might not be right now. But who knows what 2035 looks like.

Originally posted by nullable:

Originally posted by InternetFren:

Given the recent controversy regarding payment processors like VISA/Mastercard with their soft power making moral judgments on legal content; wouldnt it be best for Steam to revive accepting crypto currencies for purchases (at least the stable ones that aren't a scam)?

Valve hasn't forgot about cryptocurrencies. If they want to accept them, they will. If they don't, they won't. It's not like they needed an excuse to do so.

That being said accepting other FOP's doesn't negate Valve's need for Visa/MasterCard. So your logic, may not be as relevant as you imagine.

Having other FOP's available also won't impact Valve's need to comply with Visa and MC terms.

Originally posted by InternetFren:

And politically speaking, the current US administration is investing alot into crypto too, as well as other governments.

To my knowledge Valve isn't very political, "politically speaking". So also not a very relevant argument. Valve will accept crypto when it make sense for them to do it. Maybe when Amazon accept it, it might start to be more attractive.

Originally posted by Thermal Lance:

Given Valve's own experiment with crypto, hahaha, you can forget it man.

Well forever is a long time. I might not have been right seven years ago, might not be right now. But who knows what 2035 looks like.

Unless crypto gets regulated to hell and back. I doubt it.

Originally posted by Thermal Lance:

Originally posted by nullable:

Well forever is a long time. I might not have been right seven years ago, might not be right now. But who knows what 2035 looks like.

Unless crypto gets regulated to hell and back. I doubt it.

Well it doesn't seem likely literally tomorrow. But there's thousands of tomorrows over the next ten years, even more over twenty years. And while I don't know what the future holds, I know the current status quo isn't permanent either.

Originally posted by InternetFren:

I agree that was the case during the time, but what about nowadays? Like the technology and principles have evolved.

Is crypto a stable currency? No.

Secondly when it comes to Visa and Mastercard and their revenue what percentage is from Valve? 0.1%? or less which is drop in the ocean that Visa and Mastercard would not miss.

Valve needs their services, they do not need Valve.

Originally posted by nullable:

To my knowledge Valve isn't very political, "politically speaking". So also not a very relevant argument. Valve will accept crypto when it make sense for them to do it. Maybe when Amazon accept it, it might start to be more attractive.

My apologises, when I meant political I meant the stance on crypto by the government rather than politics as a subject, I just used the wrong word. But your point still stands, I thought Crypto had some clout nowadays to be supported but I guess there's a long way to go when espicially Amazon (or other big places) haven't adopted it.

But the payment processor situation is so messed up and so big.

To get crypto you need a credit card or a bank account to send money to the exchange and buy it, you then use that to purchase around or on steam? Nah, most people buy crypto as a gamble to get rich, it's not a reliable thing. It's just there for the black markets and money laundering more or less.

As stated, 50% were fraudulent purchases on steam when using the crypto prior, it'd be no different now unless they make it in such a way that if you're detected doing it, then they'd wipe your account, but then people could get screwed lol. Rather use your credit card to purchase from steam, approve it in your bank app, much easier and safer than going out of your way to get meaningless digital money that might crash, plus in the end you still use credit cards/bank transfer to buy it lol.

Originally posted by InternetFren:

But the payment processor situation is so messed up and so big.

It really isn't.

Steam has terms of use and a steam subscriber agreement. If you don't follow that, steam bans you or suspends your account or something.

Steam agrees to visa/mastercard's terms of use. Their terms of use require that steam not include certain kinds of content.

Why should steam not have to follow the terms of use for mastercard/visa, when you and I are still expected to follow the steam terms of use?