Why won't Riot games accept Bitcoin | Bitcointalksearch.org

Lauda

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Quote from: wordman267645 on August 23, 2014, 03:36:31 PM

When any company start accepting bitcoin they have to need many reasons to accept it.Don't worry sooner or later they will accept it..

Well the thing with BTC is that it is faster and they save a ton of money on fees.
I'm guessing the only thing that is scaring them away right now is the volatility of BTC. Unless they instantly sell they can't guarantee that they will get the amount of FIAT that was paid using BTC.

wordman267645

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When any company start accepting bitcoin they have to need many reasons to accept it.Don't worry sooner or later they will accept it..

tobyliciously

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Every1 should just accept BTC IMHO.

hellscabane

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Quote from: kokojie on June 30, 2014, 10:44:40 AM

Quote from: Light on April 24, 2014, 01:39:09 AM

Quote from: Lauda on April 23, 2014, 07:18:20 PM

Step:
1) Buy RP with daddy's CC
~~2) Use them in LoL.~~
Much easier.

FTFY.

Realistically, from a Bitcoiner's perspective I can see why you'd want merchant acceptance - but from Riot's view I can't see a reason at all to accept Bitcoin transactions.

Well I'll give them a reason then, I'm a platinum player in LoL, but I've never bought RP, since it's not a pay to win game, there's no reason to buy, RP is only for buying skins. Everything else in the game can be obtained for free. Plus, I try to keep my credit card usage online to a minimum, to minimize the risk of information leak, especially since gaming companies doesn't have the greatest track record of not being hacked.

But if Riot start accepting Bitcoins, I pledge to buy at least 1 BTC worth of RP.

Maybe this sort of this should happen more often to entice more merchant acceptance of BTC. Send BTC to an escrow fund, show a company how much is pledged if they begin accepting BTC as a payment, and when BTC is made a payment option, release the funds for transactions. Sure the logistics would need a bunch of fine-tuning, but I could see this working.

Then again though, I think the pledged money needs to be fairly significant in order for this to work.

allthingsluxury

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As with most businesses. I am sure they will eventually come around.

kokojie

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Quote from: Light on April 24, 2014, 01:39:09 AM

Quote from: Lauda on April 23, 2014, 07:18:20 PM

Step:
1) Buy RP with daddy's CC
~~2) Use them in LoL.~~
Much easier.

FTFY.

Realistically, from a Bitcoiner's perspective I can see why you'd want merchant acceptance - but from Riot's view I can't see a reason at all to accept Bitcoin transactions.

Well I'll give them a reason then, I'm a platinum player in LoL, but I've never bought RP, since it's not a pay to win game, there's no reason to buy, RP is only for buying skins. Everything else in the game can be obtained for free. Plus, I try to keep my credit card usage online to a minimum, to minimize the risk of information leak, especially since gaming companies doesn't have the greatest track record of not being hacked.

But if Riot start accepting Bitcoins, I pledge to buy at least 1 BTC worth of RP.

phillipsjk

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Let the chips fall where they may.

Quote from: zimmah on June 22, 2014, 07:29:31 AM

did you know bitcoin was designed to allow microtransactions in the first place?

I bet you haven't read the whitepaper.

I have read the white paper. While Bitcoin can handle micro-transactions (meaning less than $1 or so) better than the competition, it is still not really designed for them. Every transaction must be broadcast and stored by every node. The common stat thrown around is that Bitcoin can handle about 7tps with the current block-limit.

Dogecoin has a larger block-chain than Bitcoin; due to a tipping culture using lots of micro-transactions.

Marlo Stanfield

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Rito will accept bitcoin as soon as they understand that there is enough demand to justify them implementing it as a payment method.

Considering how many people there are in lol there has to be a lot of those users who also use bitcoin. Especially considering the demographic.

Rito is a company like any other and they will attempt to do whatever is in their best interest.

Rito plz.

BEECoinfan

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Quote from: URSAY on June 29, 2014, 04:55:10 PM

Add friends in game...

LeagueCoinTipBot

LeagueCoinShop

Skins and tipping already available. And then there's ggwp.co to look forward to.

https://bitcointalksearch.org/topic/annlol-leaguecoin-x11-pos-e-sport-betting-site-ggwpco-launched-622801

Can't wait for ggwp.co to come online...

Also once battle bot is fully implemented and available all on all servers we can hit a much larger demographic!

URSAY

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Add friends in game...

LeagueCoinTipBot

LeagueCoinShop

Skins and tipping already available. And then there's ggwp.co to look forward to.

https://bitcointalksearch.org/topic/annlol-leaguecoin-x11-pos-e-sport-betting-site-ggwpco-launched-622801

rext

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they will eventually

thecoindoctor

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Quote from: miztaziggy on April 22, 2014, 01:42:21 PM

Anyone know?

It seems that anyone wanting to further the interests of Bitcoin would be pushing HARD for Riot to accept BTC.

If you don't know - Riot run League of Legends. It's by far the biggest game in the world, see here:

http://cdn.visualnews.com/wp-content/uploads/2012/10/RiotGames_LoL_InfoGraphic-visualnews.jpg

See it has 3 million individual users every month compared with about 600k playing the top 100 PC games on Steam.

They make their money by selling RP (Riot Points) that players use to buy character upgrades. People spends small fortunes on this crap. Look on e-bay, there are accounts for sale with literally hundreds of skins which equates to hundreds of $.

Now it's mainly kids that play this game, I guess lots of them take money from Daddy's credit card to buy this stuff, but surely this is a prime example of where Bitcoin (internet cash) could be king?

Put yourself in a 15 year old's position - you have no credit card so can't pay for RP with Paypal or Moneybookers, however you do have some cash and could buy some Bitcoin. Send to Riot, get the RP, everyone's happy.

Riot games must turn over millions of $ selling these skins, if 25% of that was Bitcoin it would be a big boost to the whole Bitcoin ecosystem.

I wish they did

spazzdla

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Their parent company attempted a scam with this QQ thing... China.. did not take it well... They are still licking their wounds and any mention of the world digital currency sends them running in fear.

zimmah

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Quote from: Aswan on April 23, 2014, 09:56:23 AM

Quote from: miztaziggy on April 22, 2014, 01:42:21 PM

Anyone know?

It seems that anyone wanting to further the interests of Bitcoin would be pushing HARD for Riot to accept BTC.

If you don't know - Riot run League of Legends. It's by far the biggest game in the world, see here:

See it has 3 million individual users every month compared with about 600k playing the top 100 PC games on Steam.

They make their money by selling RP (Riot Points) that players use to buy character upgrades. People spends small fortunes on this crap. Look on e-bay, there are accounts for sale with literally hundreds of skins which equates to hundreds of $.

Now it's mainly kids that play this game, I guess lots of them take money from Daddy's credit card to buy this stuff, but surely this is a prime example of where Bitcoin (internet cash) could be king?

Put yourself in a 15 year old's position - you have no credit card so can't pay for RP with Paypal or Moneybookers, however you do have some cash and could buy some Bitcoin. Send to Riot, get the RP, everyone's happy.

Riot games must turn over millions of $ selling these skins, if 25% of that was Bitcoin it would be a big boost to the whole Bitcoin ecosystem.

Riots marketing strategy is to what makes their game so successful, mainly by elimination most, if not all competition in parts of the gaming industry.
They aggressively try to force contracts to gaming organizations and events making them drop the competitions games in the event, or making esports organizations drop teams from other games in order to receive a lot of money from riot games.
It's a pretty successful marketing strategy regardless of what people think about it.
This however is not possible with bitcoin because of the lack of a central authority over bitcoin they could force a contract upon to not engage in business activities with the competition.
That said, Bitcoin doesn't fit into their marketing strategy at all.
I wouldn't be surprised if companies competing with them would start accepting bitcoin in the not too distant future tho

Ye, like they can force VISA and MasterCard to not engage in business with competitors.

What does their business model have to do with anything?

zimmah

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Quote from: franky1 on April 22, 2014, 04:28:23 PM

transaction fe's and satoshi dust means the minimum spend is 6c with 5c fee..

many sites want the ability to do micro transactions where people can buy add-ons and bullets for fractions of pennies.

but Luke JR has totally caused the micro transaction market to not work

why would any site accept a 25c transaction with a 5c fee (20%) this is why zynga is not adopting bitcoin right now, even after alot of their devs have been trying it out...

did you know bitcoin was designed to allow microtransactions in the first place?

I bet you haven't read the whitepaper.

URSAY

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Are you aware of leaguecoin ?

http://leaguecoin.co

rext

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I could see China going rage mode on the QQ currency, since they are making life more difficult for them

spazzdla

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Quote from: torry28 on April 23, 2014, 06:56:24 AM

They do not accepting Bitcoin because players there not requesting it to be added. So not worth the trouble to accept Bitcoin for now. For child it is easier to buy the RP card than buy Bitcoin...

INNCORRECT, so very wrong. Did you go on the LOL forums in dec? They were filled with requests to accept BTC.. all posted locked and closed very quickly. I'm telling you they are still bitter their QQ currency got shutdown.

spazzdla

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The entire QQ currency situation that went down with their parent company is why.. Riot.. Tenacnat attempted to make their own monopolized digital currency... China didn't take to kindly to that.

Lauda

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Quote from: Light on April 24, 2014, 01:39:09 AM

Quote from: Lauda on April 23, 2014, 07:18:20 PM

Step:
1) Buy RP with daddy's CC
~~2) Use them in LoL.~~
Much easier.

FTFY.

Realistically, from a Bitcoiner's perspective I can see why you'd want merchant acceptance - but from Riot's view I can't see a reason at all to accept Bitcoin transactions.

Why use bitcoin on overstock when you can use a CC then?

Topic: Why won't Riot games accept Bitcoin (Read 4558 times)