Steam no loger take BITGOYIM

steamcommunity.com/games/593110/announcements/detail/1464096684955433613

Is happening, few more weeks and bubble pops

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youtube.com/watch?v=wpSAJOyLfU8&t=28m0s
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Anons, order guns and drugs or whatever NOW, tomorrow it will be too late. Finally this scam is coming to the end

Bump

Bump

Cool. Now I can feel less stupid than the people who recently invested their life savings into it because it was gonna hit a whole lot in about 2020.

>a currency backed only by the power of imagination will be successful
When you think people can't get stupider

The mere fact of it's scarcity and convenience is what makes it valuable.

But yes, it is possible that it's value will "stabilize" very soon.

>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).
can someone explain? I thought you could trade with people directly for no cost, why isn't steam doing that?

It's a bubble and we all know it. But when and how will it burst.

It's already popping, 9% down today.

See you at 1 gazillion, scrub. I'm gonna be rich with my 0.2 BTC

the same breed, the same stupidity :DD

I guess they don't want to store bitcoins, so they have to convert everything to real world currency

those are all commodities

bitcoin is not a commodity, it's a currency

and what does that mean?

you still have to pay a transaction fee to the bitcoin network for it to process your transaction, or wait years
the more popular bitcoins become the higher transaction fees will be
it's basically useless as a currency and only a speculation commodity

Sold all I had today. No regrets, no fucks given.

invest profits in eastern poland

This is literally 100% of currencies made by the state. The difference is that there's no bitcoin central reserve promising to slowly print and destroy the value of bitcoin for the rest of its eternity.

The current movement could be a hysteric bubble, however, bitcoin is still a better currency than any state currency; the state straight ups promise to give a worst service. Only problem is that the state competes by applying regulatory costs and utilizing its monopoly on force.

>scarcity makes it valuable in and of itself
Wrong. Horse-drawn carriages are scarce too but how many of those have you seen sold in the past year? You can say something's "worth" $20,000.00 but something's only worth as much as some other idiot is willing to pay you for it in order for you to actualize that value.
>convenience
Literally every aspect that drew early bitcoiners in, btc has either destroyed itself or other, more mainstream financial institutions (ie big banks) have already co-opted without them. I know this because I'm in the financial sector myself and have been following btc since 2009 unlike morons who just jumped into this in the past year.
>Anonymity
This was the biggest selling points in the start but we've already found out from exchanges and markets that there is nothing anonymous about shitcoin at all.
>Convenience, again
This was also a huge selling point in 2009-10. "Wow it's so convenient, we can just send money here and there and banks can't do shit." Only now, every exchange is charging you fees out the ass to buy/sell and it even costs to transfer, meanwhile the biggest banks in the world (BoA, Chase, etc) now have phone apps where you can instantly send money from your account to your friend's/mother's/kid's in a matter of seconds for free. If you honestly think the financial sector is going to bend the knee and adapt it's infrastructure around btc instead of just stealing the best ideas of it (which they've already done) and moving along with business as usual, you are honestly gullible as fuck and deserve to lose your shirt when your play money crashes.

>bitcoin is not a commodity, it's a currency
You can't buy anything with it, it's a commodity
>BUT MUH DEEP WEB DRUGS N GUNZ
I pulled a car out of a ditch for a bacon roll and a can of coke, does that make bacon rolls and coca cola currency?

>thinks tech crunch was commodities
>thinks german currency isn't currency
you ever ask why liberals think you guys are retarded?

Eastern Poland has already enough investments from half of Lithuania shopping there.

>not believing that the future is taking 7 weeks and 10 gigawatts of electricity to buy a pack of gum.

Bitcohen fags need to watch this cartoon before their gold that costs over gorillion shekels turns into dust.

youtube.com/watch?v=wpSAJOyLfU8&t=28m0s

>>scarcity makes it valuable in and of itself
>implying implications

>Wrong. Horse-drawn carriages are scarce too but how many of those have you seen sold in the past year?

Nice fucking exegesis of my post without understanding basic conditional logic. Notice the "AND". You cannot under any circumstances take these terms in isolation and draw the analogy in the sense I used the word. Scarcity without convenience is useless, so you addressing scarcity in isolation is a waste of time.

>the rest
I'll believe you since you're an expert, so whatever.

the convenience to pay $40 for a transaction?

or the convenience to wait 30 minutes for the payment to go through?

maybe you meant the convienence of absolutely no buyer protection whatsoever and being screwed if something goes wrong.

QUICK BUY BITCOIN ITS GOING TO BE 1M BY 2020!
t.jews

There will be a series of $1,000+ corrections over the rest of the month.

This is the jews.

They were waiting until consumers masses really flooeded it.

Then dump in december

Because jesus.

It will crash and people will lose money and christmas will be ruined for many americans lowering morale.

The jews did this.

We must fight with memes

What is the Sup Forumsple stance on the Chinese question in the bitcoin game?
I mean not just the "they might have gazillions" but also the crypto question of generating keys by brute force and/or better computing techniques?
(Sure you can ask this of any entity/country, but China, when they work on something, get it done)
>hence also, other entities/countries

what the fuck do you think money is?

What did Gaben mean by this?

As opposed to what - govt shekel which is printed without any algorithm? Credit cards that depend on govt-shekel, you have to walk out of your house for, pay the bills and register to your name? Paypal which will ban you if you're naughty and depends on the credit card?

I'm a nocoiner, but let's be real, it does have some value. I generally agree with Spencer's take on it. It'll tank and then, with good luck, it will be introduced into the mainstream.

this dumb sheep couldn't tell the difference between a casino token and actual money

You literally said "hurrr scarcity is what makes it valuable" and I called you out for the economic-idiot you are. I'm not sure where you got confused exactly. Now you're going to your thesaurus trying to pull out words to sound like you know shit about shit.
>Scarcity without convenience is useless
Your previous post literally said the exact opposite, now you're proving my point.
>the rest
>"I'll believe it because you're an expert hurr"
Don't take my word for it Google it you dumbass. There was and still is nothing proprietary about bitcoin or any of the other coins from their inception. The merits of it's "convenience" have already been co-opted by worldwide banks in the last year or two. Did you seriously think banks/citizens were going to bow down to a pack of greasy nerds and pay $100,000.00 for some imaginary internet coin years in the future when instead they could just add some of the tech to the systems already in place and pay you nothing? How stupid are you exactly? BTC has never been and will never be currency, in fact China specifically labels it "property" instead of currency. There's no "we're bringing down this fake paper-money bullshit techno-revolution", you people are floating on hot air and waiting for the next bigger idiot to come along so you can offload your magic coin to, only banks are adapting faster than btc at meeting the needs of their mainstream consumer-base so there's really no incentive for a "mass exodus away from the petrodollar to magical shitoshi-coin" anywhere in any future. I can guarantee you if it ever even came close to that, you would see banks make their own BankCoin TM with an exchange rate of like 1BC for every 10,000BTC making them even more worthless than they already are. If you don't want your shit pushed in with facts then keep your goofy coin shit on /biz/ where it belongs and stop spamming Sup Forums with it.

if you get the other party to use bitcoin you could have chosen one of two dozen other ecurrencies as well. The reason most sheeple prefer paypal is because they will be helped even if they're pretty much in the wrong

and yeah paper money is a very safe way of keeping money, at least if your currency does not suck balls. Alternatively, you can look into precious metals. Those have kept value for so long it's unlikely they will go bust, but they still have more instability than the shekels

bitcoin is neither a commodity or a currency.
It's a ponzi scheme.

Your "horse saddle" analogy is fucking idiotic you dumb nigger.

It is as if I said "a human is capable of performing menial jobs because of his body and spirit" and you went up with "hahahaha see that corpse? Isn't that a body? What can it do ahahah"

Scarcity is a minimal condition for valuable currency, but not sufficient. If you can't comprehend this go fuck yourself with your horse saddle.

>Bitcohen

nice

>Bob: I have 1BTC - it's worth $20K!
>Barb: Well supposedly. Have you tried to sell it?
>Bob: I can't get $20K for. Somewhere that seems legit offered me $11.5K so I'm holding it
>Barb: I know I can fence it for $13K. I won't tell you where so sell it to me for $12K?
>Bob: But it's worth $20K!!
>Barb: No, it's worth $12K - that's what you can get for it rh&n

No government is going to ensure 1BTC = $20K like $1USD = $1USD no matter what. You may as well be trading rare Baseball cards. The only difference is lots of people know rare cards are only worth loads to collectors - to everyone else they're worth a lot less since avg. Joe has got a hard time selling them for big bucks.

Unfortunately a whole bunch of otherwise rational people are attributing financial properties to BTC that are like "real" currency when they should be attributing niche market properties like collectibles aka scarcity to it because they don't understand it. Wow! Computers and crypto and shit it _must_ be the future! (Speculate, speculate, speculate)

Thus the Ponzi scheme grows ... for now.

Imagine being some Chinese billionaire who's completely immune to any sort of laws or regulations, and you see Bitcoin sitting at $200

So you start buying up coins over time slowly so the price doesn't go out of control. You accumulate, say, 1k bitcoin at ~$200

Then you dump a bunch of money into it, getting even more coins in the process while also raising the price. You continue doing this for months and months. And people think, IT'S LE NEW PARADIGM! NOTHING STRANGE GOING ON HERE! And these morons keep buying it more and more as well and the price continues increasing.

So then your $200 coins are now worth $15k fucking dollars, so you sell them off slowly so the price doesn't take a nosedive. Selling $200 coins for $15k a piece.

Presumably once they've sold enough, the price will go low enough that it will crash completely because people will get scared. Not sure where that threshold is though. Either way, the Chinese billionaire makes an assfuck load of money in the process.

I bet that's not what happened though that would be crazy. Surely it's a new paradigm. It's probably poor people in India buying all this crypto.

topkek

>digital
>money

what could possibly go wrong?

And yes, obviously, if you bought coins early you can ride along with this completely obvious manipulation and make money of your own. It's just important to understand that it's not some epic groundbreaking currency that's going to change the world. It's a ponzi scheme owned and run by Chinese cryptokikes.

> Thus the Ponzi scheme grows ... for now.
Isn't that pretty much how real money works anyways? Isn't all just a big giant ponzi scheme?
Isn't bitcoin just doing the same thing? And it only requires belief from people investing in the " currency " and thinking it's real to make it real? Just like real money?
And so yea, it grows, for now. Just like real money. Just like any ponzi scheme.

What the fuck are you on about? $1USD is $1USD and 1BTC is 1BTC, what retarded analogy is that where the price of bitcoin is pegged to some random amount of USD?

What you call real money isn't growing, it's value is decreasing every day.

And there's nothing ponzi about this, you must not know what a ponzi scheme is.

>your argument is dumb and you're a dumb-dumb head
Great rebuttal to the very real and valid economic points I just laid out in front of you.
>scarcity is a minimal condition for valuable currency
Wait, first you said scarcity alone created value. Then you backpedaled and agreed with me and said "w-w-w-well it's got to be scarcity plus convenience" now you've changed your position a third time and now you're at "scarcity is a minimal condition of value."
This is why everyone laughs at you shit-for-brain coiners because you have this fantasy that you're actual "investors" who know economics and are all going to become internet wizard millionaires, but the second you drill down to the economics of the situation every one of you show just how stupid and uninformed you are.

yeah, it is run by the chinese cryptokikes, they make tons of money through processing transactions without even liquidifying their assets. and on top of the chinese you also need to share the profits with anarchists and NEETs who happen to still have some of the coins - mostly the same kind of people boasting about making so much money on here. Not sure what the percentage of coins in use is, but it's pretty low meaning someone that has still access to old coins can also gradually sell them off and make tons of money. In the end, the investors will probably wonder where it has all gone. The useless fiat, that is.

Best comment I've read. People are arguing two false statements.

He said horse carriage you filthy Slav, a horse saddle would actually have value in present year.

>Wait, first you said scarcity alone created value

Which part of this:
>The mere fact of it's scarcity and convenience is what makes it valuable

Makes "scarcity alone created value" a part of my post?

There is a word "AND". Do you understand the meaning of the word "AND" you fucking idiot?

hurts to read low IQ posts like this

...

>steam stops accepting bitcoin because of ridiculous transaction fees
>It's really going to fall right now guys
>no reaction
>It's really going to fall right now guys * 3
This is what the desperation of a shill looks like. I mean bitcoin is going to burst and fall eventually, but now is not the time, mmw.

I love being an adult and not giving two fucks about steam or bitcoin.

Sorry about that. Don't enable him though, he's fucking demented.

>CME bitcoin futures open on Dec 18
>"hurr bubble durrrr"

Something that is at least in part backed by the economy of the sovereign country that emits it, unlike bitcoin

for $1 you can buy a piece of bread and milk. This has been the case in the year 2007 and it is in the year 2017. Doesn't matter january or june.

With bitcoin, you wont even know if .0001 btc (or whatever it is) will buy you milk and piece of bread at the end of the week. It's absolutely volatile.

$1 war worth 14x as much as today.

But what is your point, that things of value fluctuate in price? That bitcoin, being something very new and with a low market cap still, can fluctuate a lot? That it cannot be printed at will like USD?

Well no shit
>Buy game with BTC
>Ask for refund later
>Now they have to give you more money than what you paid for

bitgoys are converted to usd
you get the usd amount “back”

I think the difference is govs spill blood and cripple regimes over the value of oil and the buying power of the green back but no one is dying for blockchains

>a business doesn't accept a useless commodity with transaction costs that increase with availability, that changes prices more than the most volatile penny stocks, and is less liquid than the fiat dollar
Wow, who would have guessed?

>$1 war worth 14x as much as today.
in 1940?

also if you can't see the point you just don't want to see it. Bitcoin changes its worth so rapidly that it is only useful for speculation, otherwise you might get lucky or you might not be able to pay for anything, it's a total gamble.

Lol
>Im and adult I know everything about btc hurr durr
Enjoy being poor

Look croatia, you're arguing semantics and flipping your shit because you can't refute any of the actual economic points I've made about banks and coins. It's obvious. You have no rebuttal and bitcoin isn't going to suddenly drag your dirty ass out of the shithole you live in. Keep your blinders on if you want, just don't try to act like people didn't warn you when you end up even more poor than you already are.
>still doesn't know banks have co-opted the convenience value from coiners already and too stupid to google the apps for them
Clearly you've got this all figured out. Let me break it down even easier for you, splojak. You have a doll, it's a great doll and looks good so you put a price tag on it of $50 and put it in the window. Your competitor (in this instance Big Banks) walks by one day and says "Damn that's a nice doll, I want something like that for my store to sell to customers." Then they think for a minute. Well, I could buy it from this guy for $50 then sell it to customers for $60 or I could just take the money I have and buy doll legs, doll hair, bags of eyes, etc (hire engineers) to come up with basically the exact same thing for $10. Not only do big banks already have the consumer base, they also have you coiner idiots covered 10 million times over with marketing value. How many bitcoin commercials do you see in an average hour of TV? 0. There's a minimum of 10-15 big bank commercials in every half hour of television. How do you see this ending up when Chase Manhattan makes their own coin and puts it in front of billions of people on TV? What merits exactly, do you think bitcoin would stand on to hold it's "value" in the face of competition like that? How valuable would btc be exactly? It's an easy answer it's just one you don't want to hear.

>you can't refute any of the actual economic points I've made about banks and coins
I can't refute your economic points because they are addressing something I never said in the first place. Quote me you blockhead. This is Kraut-tier, 1984 level of mental gymnastics you're jumping through.

Just say "Yes I jumped on a point you never made" and let it be. Or quote where I said what you implied I said.

>You have no rebuttal and bitcoin isn't going to suddenly drag your dirty ass out of the shithole you live in
I don't have any crypto-currency you dumb strawmanning idiot.

Is someone paying you to post this shit?

based kitty

Who gives a fuck about steam other than a small percentage of gaming nerds?

underrated
I was going to mine years ago till I realized the electricity bills would give me a debt that soros himself couldn't pay off

>Service that regularly sells digital hats for cash knows better than to accept digital coins as a substitute for cash
GabeN's a shrewd businessman

about 13 million daily users

>it's a currency

it really isn't

The ledger grows more bloated every day with trandsaction times slowing to a snails pace. This shit is so slow and volatile, it's impossible to use in commerce (which is why Steam had to dump it).

At least a fucking Tulip serves a purpose.

...

>If the jews don't own it, it's not real money.

>tfw could've dumped 100 bucks of extra pocket change into bitcoin when I was in college back in like 2012 and I'd be a multi-millionaire right now.
>tfw I never followed through with it because I was too lazy to spend more than 5 minutes trying to figure out how to do it.

Probably don't like how long it takes to transfer and don't want a bunch of income in flux

One more thing. I work as a resource planner doing EPPM mainly with financial types like CFO's project accountants and BI dudes and not one has bitcoin. Most have shares and property which is kinda the done thing in Aus but one thing they say is that basically bitcoin is not for normies since a transaction for .0000000023 means nothing and is too hard to keep tabs on. Or more interestingly too hard to compare to other people's scorecard in day to day life. Top end bean counters are pretty superficial people, mind

You're right that bitcoin has it's problems with scale, and there are other cryptocurrencies that do a better job solving this problem. I believe that over time the first-mover advantage of BTC will wane and one of the alt-coins with faster transactions will become the more commonly used standard. Bitcoin itself, in its current state, is more like "e-gold" than a currency that's useful for normal everyday purchasing. It's better as just a store of wealth because transactions are expensive and time-consuming

I feel exactly the same way

>Steam matters
cool FUD I wonder if anyone could profit from it lol, pathetic

>Being this low iq
“Thanks for your return! Let me run an inflation calculation based on the past 5 days to make sure you get all your shekels back”

it was one of the few legitimate merchants for bitcoin

>bacon roll and a can of coca cola
Yes it is currency.

People are currency and commodity.

but but but bitcoin decentralized i am own banker can trust btc 100% buy more btc i'm sure satoshi nakamoto is a legit dude

You keep dodging the fact that while Croat-user said scarcity AND convenience, you're strawmaning about scarcity only. Are you really this dense, or are you "just pretending"?

has it ever accepted bitcoin?

Bitcoin won't crash, it'll correct itself.
also, /biz/

apparently it has (through "bitpay"? a service that offers an interface)

bitsheeple also say dell accepts bitcoin, didn't see it on their website though. Maybe try to checkout and it will come up

apparently dell sometimes takes $2,000 worth of bitcoin, no product no refund

kek

dell.in

Haha he thinks that Money is something Else than that

so why do you always want to return the bitcoins into money??

pretty suspicious dude

This guy gets it. The Market cap is right now at 1 trillion $. How much higher you suspect btc to go? The numbers doesnt add up. Its the holocaust of the currencies.

You really do not understand how money works and what it even is right? Ok, you are a dem so it does not surprise me. Economy is racist.