Steam Wallet - Microcents :: Suggestions / Ideas

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Legionnaire 25. aug. kl. 17:19

Steam Wallet - Microcents

The current Steam Wallet operates on whole, legal, USD. I am suggesting an addition to this system for Microcents, which are $.001

These will primarily be used for markets trades, allowing for the mythic $.01 crate to exist

Developers will still receive their 10% (which is $.001, the minimum), and steam gets their 5% (which is $.001, rounded up.), users then receive $.008.

The buyer puts $.01 in.

At 10 sales of this $.01 item, steam effectively now has $.01, and the developer gets their $.01, and the seller gets $.08.

10 cents went in, 10 cents left, the only error/flaw with this may be transaction fees.

Everything is sold at whole numbers (For transactional reasons, it must be a minimum of .01 for the buyer), backside has Microcents.

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Legionnaire 25. aug. kl. 17:31

Oprindeligt skrevet af Legionnaire:
10 cents went in, 10 cents left, the only error/flaw with this may be transaction fees.

Which is entirely mute, because the steam market only operates already on the steam wallet alone, meaning transactions are stable, regardless of transaction fees from withdraws/inputs into a Steam Wallet for both players ($5 goes in), or devs ($5 goes out), because those are large enough numbers to deal with payment processor fees, while everything that goes on in the market is entirely internal and thus, can be subject to sub-numbers without transactional fees getting in the way.

Fatality 25. aug. kl. 18:48

While microcents could, in theory, provide more accurate pricing and distribution for very low-value items, the broader systemic impact would likely be negative. In any low cap market, you’ll see an increase in bot arbitrage. Automated traders may exploit microcent spreads more aggressively, reducing meaningful human participation within that microcent environment. Additionally for non-USD markets, sub-cent granularity may not map cleanly, creating rounding or cross-region inconsistencies. This can already be an issue, going sub-cent would only exacerbate that issue. The one-cent floor, though imperfect, acts as both a technical safeguard and a psychological anchor.

Sidst redigeret af Fatality; 25. aug. kl. 18:49

pckirk 25. aug. kl. 18:57

Steam is not a banking institution

↑↑↓↓←→←→BASelect 25. aug. kl. 19:50

No such thing as microcents.

𝐒𝐀𝐁𝐈𝐗Ø𝐍 26. aug. kl. 13:47

This will complicate the conversion. In my currency, $0.03 = ₴1.26,
and In my currency₴0.03 = $0.0007.
If you want to suggest something, you need to at least do minimal research.
The way you came up with won't work.

Sidst redigeret af 𝐒𝐀𝐁𝐈𝐗Ø𝐍; 26. aug. kl. 13:47

Tito Shivan 26. aug. kl. 14:09

If you got microcents in the marketplace it'd simply make crates be $0.001

Ruiner 26. aug. kl. 18:29

Oprindeligt skrevet af pckirk:
Steam is not a banking institution

True but if all money can only be stored inside a bank and cannot travel outside of it then an economy can't exist.

Sidst redigeret af Ruiner; 26. aug. kl. 18:30

Legionnaire 26. aug. kl. 18:37

Oprindeligt skrevet af Ruiner:
Oprindeligt skrevet af pckirk:
Steam is not a banking institution

True but if all money can only be stored inside a bank and cannot travel outside of it then an economy can't exist.

People tend to forget you don't HAVE money in your account... you have monopoly money. You already gave 5 dollars to steam, you can't withdraw it... You can only spend it on steam products, in the steam market, etc... which is why my idea doesn't break too much...

Also of those people who say "Well, my currency works like X on the steam market", cool, then just translate it the a .1 of itself or something.

Take this example:

Oprindeligt skrevet af 𝐒𝐀𝐁𝐈𝐗Ø𝐍:
This will complicate the conversion. In my currency, $0.03 = ₴1.26,
and In my currency₴0.03 = $0.0007.
If you want to suggest something, you need to at least do minimal research.
The way you came up with won't work.

If he is currently paying ₴0.03, then he'd be paying ₴.01

Because, if he is paying ₴1.26 for a USD $.03 item, then he'd be paying ₴0.42 for it... and there isn't much issues...

nullable 26. aug. kl. 18:52

I know Superman 3 is everyone's favorite movie, but in reality we use rounding, and Steam is free to round up on their system. Why they'd want stop and lose those fractions of cents escapes me.