Steam co-founder Gabe Newell explained why they do not receive payments in Bitcoin (BTC).
Newell claimed that when his platform previously acknowledged this, 50% of payment transactions made were fraudulent. This caused Steam to discontinue Bitcoin payment support.
Although the world’s largest game store Steam started to receive payments with Bitcoin, it removed Bitcoin payment support in December 2017 due to the reasons suggested by Newell.
Answering PCGamer’s questions, Newell said that 50% of transactions made with Bitcoin are fake, and that they do not want this type of customer base.
Pointing out that the volatile nature of the asset is also a problem, Newell stated that customers have to pay extra from time to time.
Newell did not completely ignore blockchain technology:
“There is really interesting technology in blockchains. But people haven’t figured out why we need it yet”
Steam to NFTs Rejection
Earlier this year, Steam announced that it won’t allow NFTs. Newell cited fraud as the reason for this.
Indicating that users should be protected, Newell claimed that there are too many malicious people in the sector.
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