(07-24-2016, 04:16 PM)[Phazz3] Cant Touch This Wrote:(07-24-2016, 03:16 PM)Brassx Wrote:(07-24-2016, 03:10 PM)Eclipse Wrote: @Brass: IMO you have to pay for keys or can even use the keys to gamble which I choose to believe it does hold valueWell. Of course they actually have value to the player base, but I was just talking about the technicalities and how officially they have no real world value since you can't take money out of steam that you put into it. Without using 3rd party means that is. So as long as there is no first party way to turn the skins into money, they technically hold 0 real world value, 'cause again if they held true monetary value the users would have to pay taxes on their transactions on steam. Steam does not want their users to pay taxes on their virtual items, thus they will never make a first party way to turn items into real money.
I also believe Steam itself can be a first party way to turn into real money if they try hard enough but that is just my opinion.
(Didn't feel like making a huge quote post)
Well, i mean call me a dumbass because i know nothing lol but just thinking about it, doesn't valve make 15% of what you sell on the steam market? So surely they do have SOME real world value if valve are making real world money off of it? Valve still leaves the loophole of allowing csgo betting sites to carry on AS LONG as they don't use automated methods..And if it was condsidered as a virtual currency that holds no real world value, then why would it be a problem? (Sorry I'm just trying to understand)
It's a problem because you do have to spend real money to get said items, but that doesn't mean those items are worth that much in return. Thus parents get pissed off when their kid turns 50 bucks into a skin and throws it away, and hears the kid crying about how they lost it. There's also the fact that alot of the scummy youtubers seemed to target children, with there VERY shady websites that borderline scam somepeople. They give kids the false belief that they can go there and come out with more than they put in. The people behind the lawsuits also seem to be misinformed and believe steam wallet currency is real money(when it's not), which is why valve had to state that in their statement. They are complying too to get the heat off of them.
Valve takes 15% to stop people from flipping as easily on the steam marketplace(buying some slightly cheaper and selling for slightly more. Without the tax, people could do this with everything and end up with a lot of steamwallet cash). The steam currency DOES give them profit in the end, because people have to pay real money FOR steam wallet cash in the first place. But you can't convert steam wallet money to REAL money within steam, making it have no real value in the outside world.
x1