Games should have in app purchases through bitcoins

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jamesabennett

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#1  Edited By jamesabennett
Member since 2020 • 2 Posts

Vast number of people have cryptocurrencies with no use hoping it to rise some time in future but other than that it is waste. Also most people hesitate using real money to buy something in game. So why not add bitcoin derivatives cftc as a payment option? What do you think?

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madrocketeer

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#2  Edited By madrocketeer
Member since 2005 • 6939 Posts

Cryptocurrency is backed by no tangible, tradable asset, and is therefore a scam, backed only by demand and emotions. This is why it's more volatile than the stock markets.

Better idea; take that money, put it into a stock investment fund with a low but stable dividend. Hell, even hiding it under a rug would be a better idea than investing in cryptocurrencies.

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DaVillain-

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#3 DaVillain-  Moderator
Member since 2014 • 40070 Posts

@madrocketeer said:

Cryptocurrency is backed by no tangible, tradable asset, and is therefore a scam, backed only be demand and emotions. This is why it's more volatile than the stock markets.

Better idea; take that money, put it into a stock investment fund with a low but stable dividend. Hell, even hiding it under a rug would be a better idea than investing in cryptocurrencies.

That sounds like a pain in the ass to go Cryptocurrency business.

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ulfrinn

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#4 ulfrinn
Member since 2019 • 158 Posts

There are a lot of people who do not understand crypto-currencies and will nope out of it once they hear Bitcoin. Then you have about 90% of the population who just don't care.

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Byshop

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#5 Byshop  Moderator
Member since 2002 • 19672 Posts

@davillain- said:
@madrocketeer said:

Cryptocurrency is backed by no tangible, tradable asset, and is therefore a scam, backed only be demand and emotions. This is why it's more volatile than the stock markets.

Better idea; take that money, put it into a stock investment fund with a low but stable dividend. Hell, even hiding it under a rug would be a better idea than investing in cryptocurrencies.

That sounds like a pain in the ass to go Cryptocurrency business.

Steam actually did briefly allow cryptocurreny for game purchases but they stopped due to the volatility of their value.

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pyro1245

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#6 pyro1245  Online
Member since 2003 • 5748 Posts

It's riskier for those companies who accept payment in crypto because of the volatility.

Most of the major online stores who used to accept Bitcoin have since stopped because of this.

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mrbojangles25

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#7  Edited By mrbojangles25
Member since 2005 • 45413 Posts

No thanks.

Bitcoin/cryptocurrency is essentially a nothingburger. It's value is based on human elements than actual ones, that makes it very unattractive.

Had a friend who was trying to be a "bitcoin broker" and was always asking if I wanted to give him some money to invest for me. I'm like "No thanks" and when he pushed I was like "how much was yours worth last week?" and he said "Well, I almost lost all of it. But I am up 400 dollars this week!"

Nope. Way too volatile.

@madrocketeer said:

Cryptocurrency is backed by no tangible, tradable asset, and is therefore a scam, backed only by demand and emotions. This is why it's more volatile than the stock markets.

Better idea; take that money, put it into a stock investment fund with a low but stable dividend. Hell, even hiding it under a rug would be a better idea than investing in cryptocurrencies.

Good advice.

Any suggestions on investments? I'm always looking for good ones.

Right now I put the bulk of my savings into a Vanguard S&P 500 ETF (VOO), and a bit into Vanguard REIT ETF, Dover stock (dividend king iirc), and a couple of the FANG stocks (Apple and Google).

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madrocketeer

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#8 madrocketeer
Member since 2005 • 6939 Posts
@mrbojangles25 said:
Good advice.

Any suggestions on investments? I'm always looking for good ones.

Right now I put the bulk of my savings into a Vanguard S&P 500 ETF (VOO), and a bit into Vanguard REIT ETF, Dover stock (dividend king iirc), and a couple of the FANG stocks (Apple and Google).

Not really. I'd just stick to your standard stuff; keep your portfolio diverse, don't put too many eggs in one basket. Check the numbers; if it's too good to be true, it probably is. Don't do anything in a panic. Don't chase fads. That's pretty much it.

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JustPlainLucas

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#9 JustPlainLucas
Member since 2002 • 79707 Posts

Games shouldn't have in-app purchases to begin with.