Thread 60781492

I don't think any of you realise how obscene things are going to get once valve starts accepting USDC as a payment method on steam. Don't say you weren't warned.

Okay but explain

>>60781492 (OP)
Most gamers are poor and the ones with money already own crypto.

>>60781492 (OP)
Never gonna happen. Gabe doesn't like crypto.

>>60781492 (OP)
This will scare the fuck out of places like paypal. fuck man that would be absolutely wild I would drop having a bank account and my paypal almost instantly. Useless boomer bullshit.

>>60781492 (OP)

They should, but they won't.

if you weren't a newfag you would know they already accepted crypto before and stopped because they realized it's all a fucking scam, that's includes usdc btw
usdc is now just as centralized as the dollar, but you retards haven't caught on to this yet

>>60781827
>Never gonna happen. Gabe doesn't like crypto.
Gabe is already recommending that developers get involved with AI. Don't be so sure he'll keep that anti-crypto stance forever.
>>60781933
>usdc is now just as centralized as the dollar
The dollar that they accept?

>>60781933
>they already accepted crypto before and stopped
yea they stopped because the jews (Blockstream) kneecapped the blocksize and tx fees went out of control

>>60781933
They accepted Bitcoin only for a bit it was fucking retarded. USDC was not something they ever worked with.

>>60781933
>they realized it's all a fucking scam, that's includes usdc btw
They stopped accepting BTC because of fees and volatility. USDC has neither of those.

>>60781492 (OP)
ok but what will change?

>>60782148
Their sales would go through the roof. There's a sea of crypto guys who would be willing to drop 2k USDC on a steam sale like it's nothing.

>>60781933
oh look at grandpa here who think he's so wise but who has completely missed that the world has moved on from 2015

>>60782160
If they did do that it would make people want to pay more attention to crypto than fiat. Power play. If you get reddit threads about people getting 300% more USDC than fiat it would cause a moral panic.

>>60782148
I AM ******LITERALLY***** SHARING /BIZ/ WITH PEOPLE WHO WONDER "WHAT WILL CHANGE" IF STABLECOINS BECOME WIDELY USED

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

WHAT DO YOU THINK WILL CHANGE?

CAN YOU NOT THINK>?

>>60781803
Once steam accepts USDC it gives normies a reason to use crypto. At the moment, to normies cryptos only use is "buy coins, wait for it to go up, sell coins". Look at what Valve getting pissed at Microsoft did for Linux. It's about to happen to crypto.

>>60782189
>Heh, they already tried. it didn't work. Heh
>Heh, who's buying here? Idiots
>Heh, (some retarded take from 2010)
>Heh, muh 4 year cycle
>Heh, muh rotations

seriously these people need to get shot in the face and pissed on

No asset should ever go above its ATH because thats "buying the top"

Nothing EVER changes about anything

ultimate fucking pavlov dog retards who eternalized some shit that happened to them in 2017

Humans are so fucking sad

>>60782426
Gas is still paid in a chains base token no?

>>60782426
>>60782443
but usdc equals fiat 1:1?
the only two things i can think of is people piling into circle stock and eth becoming the only token to gain actual utility.
what else am i missing?
stablecoin 1:1 fiat, i know that much.

>>60782460
normies are not going to create a coinbase account, transfer money to coinbase, swap to usdc, copy steams wallet address, paste it into coinbase, and the transaction when they can use their credit card in 2 clicks

>>60782509
Who said anything about coinbase. Think bigger fren.

>>60782501
n e t w o r k

e f f e c t

>>60782443
>>60782472
What exactly do you think will happen? Can you explain it in your own words like a normal human being?

>>60782525
explain, please.
honestly...

>>60782528
stablecoins will be adopted, they are better dollars
stablecoins are issued on blockchains
fees will be paid to the blockchains to use these stablecoins
-----
chainlink bull thesis...
-----
these stablecoins will need to talk to each other across blockchains
some stablecoins will be on private blockchains
eg.
>Fresh off the back of its blockbuster $1.2 billion IPO in June, Circle unveiled plans for its own stablecoin-focused Layer 1 blockchain, Arc, on Tuesday, expected to launch on public testnet this fall.
>The EVM-compatible chain is designed to provide an enterprise-grade foundation for stablecoin payments, FX, and capital markets applications, according to a press release.
>Arc will use USDC -0.00% as native gas, include a stablecoin FX engine, sub-second settlement, and opt-in privacy, while fully integrating with Circle's platform and maintaining interoperability with other partner blockchains, the firm said.

>>60782528
>>60782529
why? if you have to ask, you cannot think on the correct level. I have to assume you're gamblers instead of investors.

Continue to believe the following:

>if stablecoins become widely used, basically no-one benefits. it's just 1:1 usd
>Only the chain that the stablecoin is on benefits, and minimally so. it's just stablecoins after all
>Crypto has already peaked, it's over. diminishing returns donchaknow. $20k in december. $140k in 2029.
>Nobody else will want a piece of the pie when they see the success of (insert first mover). It's pretty much over and solidified. The way things are today, that's how it will forever be~

>>60782548
>if stablecoins become widely used, basically no-one benefits. it's just 1:1 usd
In reality, stablecoins will very likely only become widely used, if payment processors, banks, brokerages, etc., etc. somehow manage to offer seamless and zero-convenience-loss solutions entirely running in the background, unnoticeable to the consumer that just wants to pay shit.
>Only the chain that the stablecoin is on benefits, and minimally so.
Possibly.
>Crypto has already peaked, it's over. diminishing returns donchaknow. $20k in december. $140k in 2029.
You're an asshole.
>Nobody else will want a piece of the pie when they see the success of (insert first mover).
Check above. What's more likely?
Fragmentation into oblivion whilst complicating everything or things eventually settle on one of the first movers building a legacy and regulatory certainty and security?
USDC, Paypal stablecoin, Ripple stablecoin, ETH, XRP.
Everything else will very likely be in the background only, hidden from public, inaccessible and certainly not making you rich.

>>60782546
the most important thing is grasp is that evm does not equal eth adoption
every announcement like this is bearish for eth
but eth will still be incredibly important as a neutral ground
and this is just for stablecoins, just one category of rwas that will be tokenized

>>60782548
>>if stablecoins become widely used, basically no-one benefits. it's just 1:1 usd

You can automate the jobs of the most retarded and toxic people on earth. Its worth it.

Here here, let me explain it in a way that will hit right. You know those dumb fucks laughing at you for losing your jobs because of AI?

Well if we all switch to USDC and drop payment processors, banks ect. We can automate their fucking worthless jobs. Two way street mother fucker. Get rekt you fucking worthless fucks. HAHA

USDC FOR THE MASSES!!!

>>60782604
>>60782630

>>60782501
usdc is also the xrpl
think bigger

>>60782637
ok ok
Chainlink
HBAR
there
if it's all so obvious, why isn't the industry there already?

>>60782460
steam is hardly normie central

>>60781492 (OP)
>They might have a Steam token

>>60781492 (OP)
>there could be a steam chain, with every game having its own token equal to the retail price in US dollar

The pussied out accepting BTC in 2017 because muh volatility.
What's the point accepting a stable coin when people could simply pay with Paypal already?

>>60781492 (OP)
They indirectly have done for years. Just go to Bitrefill and buy a Steam gift card, no KYC needed even.

>>60783268
>What's the point accepting a stable coin when people could simply pay with Paypal already?
You haven't read the latest news? Paypal literally just started blocking Steam payments in all other currencies than the top 5.

>>60781492 (OP)
Getting taxed for disposing crypto on vdia . Yeah good luck with that.

>>60781492 (OP)
Will this pump USDC from $0.999 to $1.001?

>>60782871
Sure the majority of steam users (pc gamers) are open to new technology, precisely the reason they use steam rather than still buying games at gamestop. So no they are hardly normies, but they aren't necessarily crypto enthusiasts either.
Gamers are also generally more informed and likely to flip the system that hates them for lulz (gamergate, GME, Micro-transaction pushback, Stop Killing Games etc etc)
Exactly why its an easy sell.

I've been trying to get some of my clients to try crypto but even the ones that are willing to try to learn face a huge wall: The cost of turning USD to USDC (or any other crypto, stable or not).
The cheapest way I've found so far gives a rate of 93 USDC per 100 USD. That's quite a big instant haircut for most people.
How do we solve that?

>>60783268
>>60783409
>>60783514
>>60784058
Missing the point. A huge marketplace like steam accepting USDC isn't going to directly inflate the market.
Steam while huge in terms of a marketplace has a revenue of $10B/year which in terms of crypto as a whole is a drop in the ocean.
However in terms of legitimacy, its worth a hundred times that. To normies who may have been burned by some rugcoin back in previous cycles, internet funny money is no longer a huge hard to understand ponzi scheme. It lets them play vidya.
Steam will just be the first. X will follow, then the rest of the world.

>>60782460
Linux is still a super minority in the OS space.

>>60781492 (OP)
what is better or easier for an average consumer going through all the hoops of converting cash into USDC, when they can simply type in their credit card info or use their saved card info, and at the same time get 1-3% cash back?

>>60784568
Mastercard, Visa, Paypal, Stripe et al. all charge for using their services. While certainly not as high as 7% like you suggest. The vendor eats the charge as a cost of doing business online.
Its in Valves interest to get out from under the thumb of the payment processors. I suspect they will either again, eat the charge, or perhaps as a way of drawing attention to the service offer a 10% discount if you use USDC.

>>60784655
GabeN is a very principled person and Valve is in the lucky position that it isn't answerable to share holders. If they want, they can take a hit on revenue this year (and next), if they feel it would be better for their customers long term.

>>60781492 (OP)
That’s cool and all but how do I profit from this? Go long on usdc?

>>60784802
ethereum. base. polygon.

>>60784760
I can see that, and I like the company doesn't have shareholders. Still, there has to be some incentive for a consumer to want to use USDC instead of any other payment method. Maybe if USDC starts earnings yields simply by holding it that would make more consumers hold it.

>>60784802
Any primary token on a chain that USDC is on is probably a good bet, but by sure things are.
Efferiumz: Obvious reasons.
Solana: Low transaction fees, Popularity.
Avalanche: Low transaction fees, Proximity to gaming, Ease of starting their own L1.

Sui, HBAR, Aptos, Arbitrum and Algorand may also do well. Depends on which chains Value want exposure to, but Eth is the only thing I'd be 100% on.

>>60784864
>>60784898
Forgot to mention Base.

>>60784864
Probably discounts, but I'm guessing when it comes to incentives.

>>60784864
>base
What’s on Base that would benefit from this?

>>60784898
>Eth is the only thing I'd be 100% on
I wish I had but I was too much of a newfag who got a small taste of being a degen gambler so I wasted time and money dealing with shitcoins over the last 3 years. If there is still such a thing as a shitcoin season this cycle, I’m dumping it all and leaving it for good.

>>60784960
If you never buy in, you never make gains.
Eventually on a long enough timeline ETH will be above 10k. Its currently at 4.7k and you kick yourself for not buying in at 2k. If you don't change your habits it will be at 10k and you'll be kicking yourself again.

>>60784960
should be pretty much anything, as it runs using ethereum

>>60782520
I was thinking about exactly this earlier. I think that Coinbase will eventually go the way of PayPal and become largely irrelevant. Before Trump's term is up the financial institutions are going to be using stablecoins.
Trump is a WEF plant.

>>60781492 (OP)
Honestly the real game changer would be Steam getting involved with gaming-related cryptos, like something tied to avalanche or something.

>>60784615
$10B/year is not small in terms of crypto, that's about half the entire security budget/inflation of BTC.

>>60781933
>is now
USDC has always been mutable a centralized retard.

>>60785954
*and centralized

>>60782460
>Once steam accepts USDC it gives normies a reason to use crypto
Normies won't buy USDC to pay for steam games when they can already buy it with credit cards and other ways. So this only benefits those who already use USDC

>>60785002
>that pic
Is basically every altcoin holder that bought in Sept 2024 and earlier that round tripped
Pure pain until the relief mania

>>60782509
You can already buy stablecoins directly if you have a mastercard, courtesy of CHAIN LANK

>>60786521
use case?

>>60781827
USDC isn't crypto

>>60781933
>that's includes
USDC didn't even exist when they tried to run BitPay, you fucking retarded troglodyte lying jew

>>60784568
I can convert $100 on coinbase to 100 USDC and then transfer out for $.05 or so. Why can't they do this?

>>60784864
Payment processors are trying to enforce standards on not selling porn games that have incest or rape, Itch responded by allowing those games but without payment, they could choose to list games of that sort only purchaseable with crypto. People will jump through hoops for their fetish games.

>>60781492 (OP)
don't really give a shit, i'll keep using my credit card because im not a degenerate and im not buying any porn games made for losers that get no play. i guess this will be a cool narrative on notefun and pompfun or whatever, flip $STEAM for easy cash and that's it.
>>60782460
>Look at what Valve getting pissed at Microsoft did for Linux.
1%+ userbase after 20 years of being irrelevant... wowzers yessir this will get many a normie into craptocuckrrency!