Steam: Gabe Newell explains why he no longer accepts Bitcoin payments

The world of the Internet is constantly changing, and in recent years cryptocurrencies have become increasingly popular, despite the various mining controversies. More and more shops are accepting payment in Bitcoin or in etherumcorn Valve quickly put a stop to this practice.

WhileEpic Games welcomes games based on NFT and cryptocurrency, Valve don’t want to hear about it anymore Steam. For good reason, he accepted payments in Bitcoinbut transactions were a problem, as Gabe Newell explains to gaming pc :

The problem is that many players in this environment are not the people you want to see interacting with your customers. We had some issues when we started accepting cryptocurrency as a payment option. 50% of these transactions were fraudulent, which is a staggering number. These were customers we didn’t want to have.

Another concern that quickly arose was the fluctuation in the value of the Bitcoin. Steam accepted this means of payment between April 2016 and December 2017, the Bitcoin then went from 370 dollars to 16,700 dollars in a few months! Players obviously weren’t thrilled to see a game change in price so quickly. He adds:

There is a difference between what it should be and what it actually is right now in the real world. And that’s kind of where we were with blockchain-based NFTs: a lot of it was scamming customers. And we were like, “Yeah, that’s not what we want to do, we don’t want to allow a lot of our customers to be ripped off,” so that’s what drove that decision.

Even if the technology can be interesting in certain aspects, it remains too confusing and open to scams to convince retailers like Steam. As a reminder, Valve launched its Steam Deck this week, delivered in person by Gabe Newelland you can find games Steam on discount at the house of Gamesplanet.

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