Úno 15

Bitcoinist Weekly News Re-Hash: Valve Accepting Bitcoin, Antonin Scalia Dead

Source: bitcoin

news

Green candles dominated the charts for most of the week, as the bitcoin price climbed upwards towards $400. We finally broke that barrier late in the week, reaching $403.20 as it came to a close, making for a total gain of 7.22%. The week was also marked with some rather significant news. To name a few stories that broke this week: Valve may be accepting bitcoin in the near future, Coinbase adopted Bitcoin Classic, and Supreme Court Justice Antonin Scalia was found dead in a hotel room at age 79.

Also read: AirTM Currency Conversion Success Hinges on Bitcoin Integration

Daily Bitcoin Price Action

  • February 8:$376.04
  • February 9: $370.23
  • February 10: $374.51
  • February 11: $377.49
  • February 12: $378.89
  • February 13: $387.48
  • February 14 Open: $394.45
  • February 14 Close: $403.20

Total Change: +7.22%

Weekly News Roundup

Avalon 6 RPi and EVGA PSU

Monday, February 8, 2016 opened with the bitcoin price at $376.04. The first day of our week had a fairly downward trend in terms of market activity, with only a few green candles breaking through the overwhelming downward pressure. By the end of the 2 PM hour, the price fell from $375 to $371, and continued to fall for the rest of the day, even dipping below $370 right at the close of the day.

In the news, our Editor-in-Chief Scott Fargo published his review of the Avalon 6 ASIC Bitcoin miner. In short, he called the machine “stable and powerful.” You can read the review in full here.

We also reported on Monday that OpenLedger and Emercoin entered a partnership to create “new synergies.” The two projects believe that their combined technologies can create great improvements in the blockchain ecosystem.

Tuesday began at $370.23, several dollars lower than the start of the previous day. After a return to the mid $370s during the morning hours, market activity slowed down and the bitcoin price leveled out, hovering between the mid and low $370s for the rest of the day. Towards the end of the night, the price embarked upon a climb, which continued into Wednesday morning.

On Tuesday, we reported on a large discovery regarding Valve accepting bitcoin. A Reddit user found several lines on Steam’s translation servers that indicate a bitcoin implementation into their game marketplace. It appears as if Steam will use the Bitpay API to process payments when this implementation goes live. This is huge news for Bitcoin, as Steam boasts 125 million users worldwide.

February 10 opened at $374.51, and improvement over the 9th, but still below the price seen at the beginning of the week. The price climb that launched late Tuesday night fizzled out rather quickly, reaching a plateau of $377 around 4 AM. After a jump to $380 at 8 AM, the bitcoin price went sideways for the rest of the day, hovering between $379 and $380.

Thursday the 11th started out with the bitcoin price at $377.49, finally climbing above the week’s opening price. The markets’ sideways trend from Wednesday carried over into the 11th, with the price seeing virtually no change aside from a brief dip in the afternoon.

Meanwhile, in the news, Coinbase CEO Brian Armstrong announced that his company will be switching to Bitcoin Classic, the latest scalability-focused BIP in the ongoing Bitcoin blocksize debate. This was a controversial decision for Coinbase; as one of the leading companies in the ecosystem, Coinbase’s decision to adopt Classic will surely influence many other people’s views on the block size issue.

Market activity on Friday was characterized by slow, drawn out growth. Starting out at $378.89, the bitcoin price crawled upwards throughout the day. After a flat spot during the afternoon, where the price stayed around $383, the markets sent Bitcoin upwards just a little bit further, pushing the price into the high $380s right at the end of the day.

On Friday, we reported on a Bitcoin acceptance story coming from Budapest. The Hungarian city’s Taxi drivers will now be accepting bitcoin through TheCoinPAY, making the taxi service one of the first bitcoin-accepting public services in Hungary.

February 13 opened with the bitcoin price at $387.48. Most of the day was spent flirting with $390 without fully getting over the threshold. However, that barrier was broken in the evening, when the price finally hit $390 at 6PM. After passing the $390 mark, the price took off, hitting the high $390s towards the end of the day.

We reported on a major development in US law and politics Wednesday. Reports surfaced of Supreme Court Justice Antonin Scalia being found dead in a Texas hotel room, where he was on a hunting trip. These reports were confirmed a few hours after they first appeared. Justice Scalia was 79 years old and had served in the Supreme Court for 29 years, making him the longest-service Justice out of all current members.

Sunday, February 14, started at $394.45, a notable increase over the start of the previous day. The bitcoin price broke $400 early in the morning. However, the markets couldn’t sustain $400 very long, and the price quickly dipped into the high $390s. The rest of the morning and afternoon was spent struggling between $399 and $400. Around 7 PM, though, the markets firmly broke the $400 threshold, climbing into the low $400s, even flirting with $410 for a brief period of time. The week closed out at midnight, with the bitcoin price sitting at $403.20, making for a 7.22% gain overall.

What do you think will happen in the Bitcoin world in the coming week? Let us know in the comments below!

The post Bitcoinist Weekly News Re-Hash: Valve Accepting Bitcoin, Antonin Scalia Dead appeared first on Bitcoinist.net.

Bitcoinist Weekly News Re-Hash: Valve Accepting Bitcoin, Antonin Scalia Dead

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Úno 09

Valve is Bringing Bitcoin to Over 125 Million Steam Users Worldwide

Source: bitcoin

Valve

February 8, 2016 – Several lines found on Steam’s translation servers indicate Valve will be implementing bitcoin payment in their game DRM platform in future versions. They’ll be using the Bitpay API for handling in-store transactions. For privacy and security-minded gamers, as well as those in countries that suffer from region-locking and unfavorable pricing practices, this is a huge value-add.

Also Read: Alibaba to Possibly use Blockchain for Alipay Service

Valve Lays Groundwork for Bitcoin Transactions

Valve is known for their comparatively open and accessible corporate practices — the core design statement of their industry-leading DRM and sales platform is to make buying games easier than piracy. They’ve always been forward thinking regarding developing their services, bringing real gaming support and development to the Linux ecosystem in an industry where open development was considered a  pipe dream (pun most certainly intended.) It comes as no surprise that they’re bringing bitcoin to the gaming mass market before other mainstream DRM platforms are considering it as an option. There are bitcoin game-payment solutions out there, like Green Man, but having inline support for digital currencies is a huge step for bitcoin’s entry into mainstream use.

Bitcoin in Steam means more than just better chances of adoption, which is significant in itself for a currency that was primarily used for illegal transactions and duty-free alpaca socks in its earliest stages of adoption. People in emerging markets will find themselves able to access Steam as an option for gaming, where they previously were limited by a lack of payment provider support and region locking due to fraud risk. For those Gamers using Bitcoin already, it means a more secure way to pay for your games, without having to store your personal info remotely, something Valve has interst has vocally supported in years past. Here’s the full readouts from the Steam translation servers:

bitcoin_authorization_explanation
Bitcoin transactions are authorized through the BitPay website. Click the button below to open a new web browser to initiate the transaction.
bitcoin_payment_tips_header
Tips for Bitcoin customers
bitcoin_payment_tips_text
This process can take up to 60 seconds. To avoid purchasing failures, please do not hit your back button or close the bitpay window before the process is complete.
checkout_payment_method_specific_note_bitcoin
Note: Any approved refunds for purchases made with Bitcoin can only be credited to your Steam Wallet
checkout_receipt_pending_bitcoin_long
Your purchase is currently in progress and is waiting for confirmation of Bitcoin delivery from BitPay. This process can take several minutes to a few days for confirmation. Valve will send an email receipt to you when payment is received for this purchase. During this time you may continue shopping for other games, though you will not be able to re-purchase any products that are pending in this transaction.
checkout_receipt_pending_bitcoin_text
For questions regarding your payment processing status, please contact BitPay [

 

Bitcoin Lends itself to Digital Goods Sales

The move makes a lot of sense from a business standpoint for Valve, too. Low overhead and accessibility reign supreme in mass distribution, so the features associated with Bitcoin payment tie in uniquely with their infrastructure, where the cost of physical shipping is eliminated, putting a larger percentage of overhead on the handling of monetary transactions. Bitpay has much lower fees associated with it than traditional credit card payment processors, and chargeback fraud and user information leaks are a lot less likely if their users adopt Bitcoin. It would not be surprising to see valve incentivise this new service once it’s ready for the release version of the client.

The most recent metric for the number of active Steam users is 125 million. It is currently the largest gaming platform in the world, with more than three times as many users as there are current-gen console owners. If bitcoin garners widespread adoption in this community, other DRM platforms are likely to follow suit, getting Bitcoin one step closer to a cash-like level of acceptance.

 

What do you think of Valve’s practices and acceptance of bitcoin? Make sure to let us know in the comments!


Images courtesy of Bitpay, Valve inc.

The post Valve is Bringing Bitcoin to Over 125 Million Steam Users Worldwide appeared first on Bitcoinist.net.

Valve is Bringing Bitcoin to Over 125 Million Steam Users Worldwide

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