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Steam Suspends Support For Bitcoin Payments

Steam Suspends Support For Bitcoin Payments

Steam Suspends Support For Bitcoin Payments Matthew De Silva December 7, 2017 12:38 AM Steam is letting some air out of the alleged cryptocurrency bubble. The decision to drop bitcoin from its payment options portend challenges to bitcoin functioning as a currency for several reasons. On Wednesday, digital distribution platform Steam announced that it will no longer accept bitcoin transactions. As of today, Steam will no longer support Bitcoin as a payment method on our platform due to high fees and volatility in the value of Bitcoin. "In the past few months we've seen an increase in the volatility in the value of Bitcoin and a significant increase in the fees to process transactions on the Bitcoin network," the company wrote . "For example, transaction fees that are charged to the customer by the Bitcoin network have skyrocketed this year, topping out at close to $20 a transaction last week (compared to roughly $0.20 when we initially enabled Bitcoin)." The explanation continued: "Unfortunately, Valve has no control over the amount of the fee. These fees result in unreasonably high costs for purchasing games when paying with Bitcoin. The high transaction fees cause even greater problems when the value of Bitcoin itself drops dramatically." On Steam, some of the top-selling games include Call of Duty: WWII ($59.99), PLAYERUNKNOWN'S BATTLEGROUNDS ($29.99), and Rocket League ($19.99). At current rates approximately $6.30 per transaction on the bitcoin network the cost of using bitcoin would account for approximately 9.5 percent, 17.4 percent and 24 percent of the total sale price respectively. Steam's decision to drop bitcoin from its payment options portends challenges to bitcoin functioning as a currency. First, if you can buy one of these titles for less money by usin Continue reading >>

Book Of Demons Available On New Ethereum Platform

Book Of Demons Available On New Ethereum Platform

Book of Demons available on new Ethereum platform 07.11.2017 \ Announcements , Book of Demons , Return 2 Games \ No comments yet Together with Gamenation , we are proud to announce that Book of Demons is now available on a brand new Ethereum based game distribution platform. This means that anyone who owns Ether cryptocurrency can now purchase our game directly, using a secure smart contract. CLICK HERE TO BUY BOOK OF DEMONS USING ETHEREUM Blockchain-based game distribution might prove to be a big thing in the near future. If you wish to learn more about the project and what motivated us to take part in it, please head on to Gamasutra and see our latest post: Experiments in game distribution using Ethereum . Thing Trunk is an independent game development studio and a creative team behind Return 2 Games - a series of unique mid-core games inspired by the golden days of PC gaming. Only top quality mid-core games - engaging games that respect your time and can be enjoyed right from the start. Continue reading >>

Please Allow Us To Buy Steam Games With Ethereum :: Suggestions / Ideas

Please Allow Us To Buy Steam Games With Ethereum :: Suggestions / Ideas

Please allow us to buy Steam games with Ethereum I would love to buy Steam games with Ether, the currency of the Ethereum blockchain network. The transactions are far faster than bitcoin, and it can be easily exchanged on Coinbase. You can even integrate the web3 framework to integrate purchases on your webpage. There is no real world use for Ether, the inflation rate is freaking high, the system is not yet secured tightly and there are lots of future problems that aren't addressed yet. gaben pls... with eth emerging as a reliable and consistent currency i think steam and the network would have a lot to gain from using it i think it needs to mature first before valve looks at it as a viable currency for use on steam. I would love to be able to pay for games on steam with ethereum. I would be more likely to buy games that way than with any other currency! Whoever makes it happen at steam stands to benefit from it, and obviously steam does as well! The earlier the better! I very much support this proposal. Ether (along with its many other uses) is faster, cheaper and more convenient as an an online method of payment than bitcoin. I for one would be much happier to use it than my credit card. Please add it as an option. You will have to sooner or later - why not be a pioneer and acquire the support of tens of thousands of ether developers, users and investors? There is no real world use for Ether, the inflation rate is freaking high, the system is not yet secured tightly and there are lots of future problems that aren't addressed yet. I completely support this. If Valve really wanted to go all the way, they could implement Smart Contracts in tandem with the refund system. I appreciate that you accept bitcoin, but the transaction fees are just too high now, upwards of $3 s Continue reading >>

Selling Used Pc Games Through The Blockchain? Were Not Buying It [updated]

Selling Used Pc Games Through The Blockchain? Were Not Buying It [updated]

Selling used PC games through the blockchain? Were not buying it [Updated] Robot Cache has some interesting ideas and some important hurdles. by Kyle Orland - Jan 17, 2018 6:05 pm UTC Companies in industries ranging from iced tea to image processing to fast-casual dining are jumping on the recent blockchain-mania as a way to try to revolutionize often-moribund businesses. Now, startup Robot Cache wants to bring that same technology to bear in revolutionizing the way we buy and sell PC game downloads, with the backing of game industry luminaries like InXile's Brian Fargo and Atari founder Nolan Bushnell. Robot Cache CEO Lee Jacobson said in a press release that "expertly leveraging the power, flexibility, safety, and transparency of blockchain technology" will bring benefits like lower fees for game publishers and the ability to resell digital purchases for gamers. But despite the buzzword-heavy promise, there are a lot of risks involved that have us skeptical of whether Robot Cache can actually deliver on its vision. Enlarge / InXile's Brian Fargo is among the advisors who think the blockchain can revolutionize PC game distribution. Centralized game distribution platforms (like Steam) rely on servers maintained by a single company (like Valve) to determine whether a player actually owns the downloadable game they're trying to play. Robot Cache wants to decentralize this process by putting that ownership data on a public blockchain that is constantly being verified by other users, who are themselves trying to mine a cryptocurrency. For Robot Cache, that cryptocurrency is IRON, an ERC-20 token built on top of the Ethereum network. "The blockchain is the most secure technology that we know of for insuring there are not duplicate copies of items and that faith is one of th Continue reading >>

Buy & Sell Csgo Skins & Items | Bitskins, Inc.

Buy & Sell Csgo Skins & Items | Bitskins, Inc.

We are veterans from the gaming and payments industries based in San Francisco, CA. Our CEO, Atif Nazir, can be contacted directly through Twitter or by email . Go on, say hello! BitSkins charges a maximum sale fee of 5% per sale from the amount deposited to the seller's account on sale. This fee decreases as your sale volume increases. Higher tier accounts have lower fees. See Fee Schedule . I entered the wrong Zip Code and I got charged multiple times! Short answer: you did not. The multiple charges you see are charges that were refunded immediately on failed card verification by our payment processor. It takes some time for these refunded charges to disappear from your card's statement -- in the US, it takes between 2 days to 14 days, depending on individual banks'/card issuers' policies. Rest assured you were only charged for amounts for which you received e-mail receipts. These are the only funds that will be confirmed in your card's statement. Yes. We strive to make our payment system fraud-free so you can rest at ease whenever you make your sale. Your money is yours. BitSkins is a marketplace for selling/buying digital in-game items via the Steam gaming platform. Users are allowed to add funds in specific denominations (5, 10, 25, etc.). Once funds are added to BitSkins, the users may use these funds to purchase in-game items listed by our sellers. Once an item is purchased, it is immediately withdrawable by the user to their Steam Profile. Funds that are not used by users to purchase in-game items are eligible for refunds, for which we require a simple e-mail request to [email protected] The refunds have to be requested within 60 days. Refunds for funds purchased via G2A Pay, Bitcoin, and Skrill, are not available at this time. All item purchases, once exec Continue reading >>

Steam No Longer Accepting Bitcoin Payments For Video Games

Steam No Longer Accepting Bitcoin Payments For Video Games

Steam No Longer Accepting Bitcoin Payments For Video Games Today Valve announced it will no longer be accepting Bitcoin as currency on the Steam store. This follows a period of rapid Bitcoin growth. After recently tipping the $US10,000 mark in late November, Bitcoin lost approximately 20% of its value, but promptly fought back. Roughly one week later Bitcoin is sitting at $US13,000. In short that's a lot of volatility for a currency if you want to buy video games. That's one of the reasons why Valve is no longer accepting Bitcoin as a payment method. "Historically, the value of Bitcoin has been volatile," Valve explained in note posted earlier today, "but the degree of volatility has become extreme in the last few months, losing as much as 25% in value over a period of days. This creates a problem for customers trying to purchase games with Bitcoin. When checking out on Steam, a customer will transfer x amount of Bitcoin for the cost of the game, plus y amount of Bitcoin to cover the transaction fee charged by the Bitcoin network. The value of Bitcoin is only guaranteed for a certain period of time so if the transaction doesnt complete within that window of time, then the amount of Bitcoin needed to cover the transaction can change. The amount it can change has been increasing recently to a point where it can be significantly different." Essentially the price of Bitcoin moves so quickly, and so dramatically, that it's difficult to find a reasonable foothold on what video games will cost. When Steam initially enabled Bitcoin transaction fees were roughly 20 cents, now it can be upwards of $20. That's a significant jump. "Unfortunately, Valve has no control over the amount of the fee," explained Valve. "These fees result in unreasonably high costs for purchasing games wh Continue reading >>

Bitcoin Cash And Litecoin Proposed To Solve Steams Bitcoin Woes

Bitcoin Cash And Litecoin Proposed To Solve Steams Bitcoin Woes

Bitcoin Cash and Litecoin Proposed to Solve Steams Bitcoin Woes After nearly a year and a half of operation, gaming marketplace Steam will no longer accept bitcoin as a form of payment. The platform announced on December 6, 2017, that they will no longer support bitcoin as a form of payment method on our platform due to high fees and volatility in the value of bitcoin. Members of the crypto community, although disheartened to hear more scalability woes, have offered two other solutions; Bitcoin Cash and Litecoin. Valves digital distribution platform has accepted the digital currency since April 2016 when bitcoin traded for roughly $450. At this time, customers were charged a transaction fee of approximately $0.20. These figures have skyrocketed in 2017, Topping out at close to $20 per transaction and ultimately causing the platform to end their relationship with bitcoin. As of today, Steam will no longer support Bitcoin as a payment method Steam Database (@SteamDB) December 6, 2017 The Steam Team also referred to the staggering volatility of the currency. In many cases in which the price dramatically fluctuated, purchases were also affected. Kurtis wrote the following as one of the major reasons the company made their decision: This creates a problem for customers trying to purchase games with bitcoin. When checking out on Steam, a customer will transfer x amount of bitcoin for the cost of the game, plus y amount of bitcoin to cover the transaction fee charged by the Bitcoin network. The value of bitcoin is only guaranteed for a certain period of time, so if the transaction doesnt complete within that window of time, then the amount of bitcoin needed to cover the transaction can change. Customers are then refunded the amount of the failed purchase, only to be charged w Continue reading >>

Game Over? Steam Stops Accepting Bitcoin Due To High Fees, Volatility

Game Over? Steam Stops Accepting Bitcoin Due To High Fees, Volatility

Game Over? Steam No Longer Accepts Bitcoin Due to High Fees and Volatility Join our community of 10 000 traders on Hacked.com for just $39 per month. Valves popular gaming and digital distribution platform Steam started accepting bitcoin payments back in April 2016, when the cryptocurrency was trading at about $450. The cryptocurrencys surge seems to have made it too volatile and expensive for the platform to continue to accept it, as Valve announced on Wednesday it will no longer accept bitcoin payments. In a blog post, the company revealed that the cryptocurrencys fees have become too high for it to be accepted on the platform, as they lead to unreasonably high costs for purchasing games with bitcoin. The companys blog post reads: In the past few months weve seen an increase in the volatility in the value of Bitcoin and a significant increase in the fees to process transactions on the Bitcoin network. For example, transaction fees that are charged to the customer by the Bitcoin network have skyrocketed this year, topping out at close to $20 a transaction last week (compared to roughly $0.20 when we initially enabled Bitcoin). Unfortunately, Valve has no control over the amount of the fee. Although most bitcoiners are well aware of how the network works, Steam is also worried about its volatility. Since the cryptocurrencys value keeps rapidly changing, and the amount of bitcoin used to purchase a game is only guaranteed by the marketplace for a limited period of time, if the customer doesnt finish the purchase during that period, the amount of bitcoin needed to purchase the game can then be significantly different. Steams blog post adds that the platform usually solved the problem by either refunding users, or asking them to transfer additional funds to cover the rema Continue reading >>

Is Steam Gaming Platform Ready For Bitcoin?

Is Steam Gaming Platform Ready For Bitcoin?

Is Steam gaming platform ready for Bitcoin? Steam is an online gaming platform, one of the market leaders in gaming platforms offering a catalog of PC, Mac and Linux games. A game bought in the Steam store can be played anywhere, on any PC that has the Steam platform installed. In 2015 Steam reported that they had over 125 million active users. Bitpay is a global bitcoin payment service provider. Providing payment processing services for merchants, and is one of the largest bitcoin payment processors. According to Reddit poster Haoose , BitPay will be integrated with the gaming platform Steam. The transcript Haaose provided is from the Steam translation server. A few months ago Haoose has placed a post on Reddit informing us about an escrow service coming to Steam that was not announced by Steam itself at that moment. Today we all know that Haoose was in the end correct on the escrow service. A year ago the CEO of Steam, GabeNewell replied to a Reddit AMA question whether or not cryptocurrencies would be accepted as a form of payment on the gaming platform Steam. His response at that time was; There are two related issues: one is treating a crypto-currency as another currency type that we support and the broader issue is monetary behaviors of game economies. The first issue is more about crypto-currencies stabilizing as mediums of account A few weeks ago BitPay partnered with OPSkins, a gaming platform evolved around CounterStrike: Global Offensive (CS:GO). Followed by a partnership with Gaming Giant Wargaming only a few days ago. As BitPay is already accepted by the other online gaming platforms, this could be a logical step for Steam to also integrate Bitcoin in order not to lose market share. Continue reading >>

Steam Drops Bitcoin Payments Citing High Fees And Price Volatility - Coindesk

Steam Drops Bitcoin Payments Citing High Fees And Price Volatility - Coindesk

Steam Drops Bitcoin Payments Citing High Fees and Price Volatility Popular online gaming platform Steam is dropping its bitcoin payments feature, citing chronic problems with the cryptocurrency's transaction fees and volatile price. It was in April 2016 that Steam, operated by game developer Valve, confirmed a long-rumored move by accepting bitcoin through a partnership with payment processing BitPay. At the time, the decision to take bitcoin was positioned as a way to serve emerging markets wherepayment options like credit cards may not be widely available. Now, as of Dec. 6, the company will no longer accept payments in the cryptocurrency due to a mixture of high fees and volatility in the price of bitcoin. Specifically, the company pointed to elevated payment costs in recent months for its customers, who can use the Steam platform to purchase and play a variety of games. "For example, transaction fees that are charged to the customer by the bitcoin network have skyrocketed this year, topping out at close to $20 a transaction last week (compared to roughly $0.20 when we initially enabled bitcoin). Unfortunately, Valve has no control over the amount of the fee. These fees result in unreasonably high costs for purchasing games when paying with bitcoin. The high transaction fees cause even greater problems when the value of bitcoin itself drops dramatically." The post outlined how, in some cases, customers would send funds only to come up short due to the U.S. dollar conversion. When asked to send an additional transaction to cover the difference, that user would then be hit with another fee. As a result, the bitcoin payment option has become "untenable" for Steam, with the company promising to"continue working to resolve any pending issues for customers who are impacte Continue reading >>

Why Is Trading In-game Digital Items Socomplex?

Why Is Trading In-game Digital Items Socomplex?

WORLDWIDE ASSET EXCHANGE SAFE. SECURE. FAST. From the founders of the #1 virtual goods marketplace for online video games. Why is trading in-game digital items socomplex? Online games on the Steam platform such as Counter-Strike: Global Offensive and PLAYERUNKNOWNS BATTLEGROUNDS allow players to trade weapons and other in-game items. And billions of dollars worth of these items, called skins, are bought and sold around the globe by 400 million gamers who use them to adorn their weaponry or characters, as a store of value, or simply to collect. Heres the thing: Trading skins is surprisingly complex. First, while the process of transacting skins has become much simpler over the past three years, behind-the-scenes complexities due lack of usable payment methods and potential for fraud limits the industry from reaching its full potential. Then theres the skins themselves, each of which can have thousands of different variations per category, and market-driven price changes that require constant research and maintenance in order to master the trading process. So, where do strangers from different countries, who speak different languages, hold different currencies, and have no reason to trust one another go to safely transact their skins which hold values ranging from pennies to tens of thousands of dollars ? They go to centralized exchanges that support the buying and selling of in-game virtual items, the largest of which is OPSkins.com . OPSkins Marketplace launched in 2015 with the mission of making buying and selling skins as easy as possible. OPSkins is now the worlds largest skin marketplace, with millions of customers across the globe safely buying and selling popular video game skins every day. Yet while OPSkins has brought tremendous improvements to the $50 billion Continue reading >>

New Steam Game Offers One Bitcoin To First Player Who Cracks 24 Enigmas

New Steam Game Offers One Bitcoin To First Player Who Cracks 24 Enigmas

New Steam Game Offers One Bitcoin To First Player Who Cracks 24 Enigmas One bitcoin forms the prize the first winner of a new puzzle game may claim from Feb. 20. A new game offering 1 bitcoin - worth $9860 at press time - to the first player to solve its 24 puzzles will launch Feb. 20 amid rumors developers are linked to Bitcoin wallet recovery tool btcrecover. Montecrypto: The Bitcoin Enigma will feature an in-game world players navigate in the first person, solving 24 enigmas in order to claim the ultimate prize. The game is over once a player has solved all the puzzles for the first time, while the sale price of the game will be $1.99. We are not here to advertise Bitcoin. We think it can be fun to have a Bitcoin as a prize for our game, developers write in Montecryptos FAQ . A curious addition under a subheading titled Final words? comes in the form of a direct link to btcrecovers Github repository , developers claiming it might come in handy. The project adopts a different angle on crypto-gaming compared to ongoing projects which have recently hit the headlines. Crypto Kitties, the phenomenon which took the internet by storm in December last year before dissipating, is being followed this month by a new Ethereum-based offering dubbed DEUS ETH . In that world, tokenized characters navigate a series of episodes in what developers claim is like watching Game of Thrones. Montecryptos team has meanwhile stated its wishes to remain anonymous until the winner secures the prize. Continue reading >>

Steam Drops Support For Bitcoin Payments Citing Wild Price Swings, High Transaction Fees

Steam Drops Support For Bitcoin Payments Citing Wild Price Swings, High Transaction Fees

Steam Drops Support for Bitcoin Payments Citing Wild Price Swings, High Transaction Fees Cynthia Turcotte December 6, 2017 5:30 pm Bitcoin may be trading at all-time highs , but not everybody is celebrating. Crypto-loving gamers everywhere have their headsets in a twist after Valve, the parent company of popular onlinegaming platform Steam, announced today that they will no longer be accepting Bitcoin payments. Citing the digital currencys extreme price fluctuations in recent months, as well as increased transaction fees, Valve stated that it has become untenable to continue supporting Bitcoin as a payment option. The announcement, made via a blog post on Steams website, explains: In the past few months weve seen an increase in the volatility in the value of Bitcoin and a significant increase in the fees to process transactions on the Bitcoin network. For example, transaction fees that are charged to the customer by the Bitcoin network have skyrocketed this year, topping out at close to $20 a transaction last week (compared to roughly $0.20 when we initially enabled Bitcoin). Bitcoins wild volatility may be attractive to thrill-seeking investors, but it can be problematic for customers trying to purchase games on the Steam platform. Consider the following scenario: Mike wants to purchaseElder Scrolls Online: Gold Edition and pay for it with Bitcoin. The game costs $29.99 and, at the time of purchase, thevalue of Bitcoin is $13,528. That means that Mike needs to transfer approximately 0.0022 BTC plus a transaction fee of 0.00032 BTC ($4.33) a total of 0.00252 BTC to pay for the game. Once he makes his payment, he needs to wait for the payment to go through. Transaction times can vary dramatically based on whether or not there is a backlog of transactions on the blockcha Continue reading >>

You Can't Buy Steam Games With Bitcoin Anymore

You Can't Buy Steam Games With Bitcoin Anymore

You Can't Buy Steam Games With Bitcoin Anymore 7 December 2017, 9:10 am EST By Vincent Lanaria Tech Times Valve no longer allows users to purchase games on Steam with Bitcoin. The company says it's because the cryptocurrency comes with high transaction fees and fluctuates in value. Back in April 2016, Valve flipped the switch and gave users the option to buy games on Steam with Bitcoin. Fast-forward to December, it's pulling the plug on the whole deal, saying that an "increase in the volatility in the value of Bitcoin" and an "increase in the fees to process transactions on the Bitcoin network" are the main reasons it's shutting it off. Just to be clear, the transaction cost started out at about $0.20, and now it shot up all the way to $20. "Valve has no control over the amount of the fee. These fees result in unreasonably high costs for purchasing games when paying with Bitcoin. The high transaction fees cause even greater problems when the value of Bitcoin itself drops dramatically," the Steam Team writes. By nature, Bitcoin has never been exactly stable. At the time of this writing, the virtual currency's value is at $13,300, but it has also taken big dips. According to Valve, it dropped by 25 percent in value "over a period of days." That said, a volatile currency like that will prove to be a problem for purchases on Steam. For instance, when a user tries to check out a game with Bitcoin, there's only a certain amount of time the value is guaranteed. If the transaction wasn't completed during it, then the buyer will need to shoulder the difference and fork over more of the digital cash than first expected. In the event that it does happen, two payments will be made, meaning that the Bitcoin Network will charge the transaction fee twice, which could potentially cost Continue reading >>

Buying Games Cheaper With Bitcoin From G2a

Buying Games Cheaper With Bitcoin From G2a

All About BTC, LTC, ETH mining as well as other alternative crypto currencies Buying Games Cheaper With Bitcoin from G2A We have already purchased games using Bitcoin (BTC) as a payment method from Steam as the popular service has been accepting purchases made with the crypto currency for more than a year already. Steam however is not the only place where you can pay for games with Bitcoin, there are others also accepting crypto currency payments and you can even get a better deal. One such example is the G2A Game Store where you can purchase game keys for a better price, including games from Steam, but not limited (they added BTC support even before Steam). The idea here is that the website does not directly sell you games, but connects you to users selling them online and only acts as an intermediary processing the payments and helping resolve any issues if there are such. There are many different payments methods supported by the G2A Store and Bitcoin (BTC) is only one of them. You can also pay directly with a Credit Card, PayPal as well as many others. We are however most interested in Bitcoin and the payments using the crypto currency are being processed by BitPay as a payment processor (the same one as on Steam). The checkout process is quick and easy, though you might still need to wait a bit for the confirmation of the transaction (especially wit lower fee) on the Bitcoin blockchain. Regular confirmation should just take a couple of minutes, but it can take more if the blocks are currently full and recently the number of transactions has increased and the waiting queue for transactions is bigger. If you like the game deals available on G2A we do recommend that you activate the G2A Shield service as it can help you get even better deals and if there are some tro Continue reading >>

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