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if i want to play ver 1.2. should i buy it again on steam?

You either wait or buy it on steam.

how long? 

(+1)

he said it would release in here in like 2 weeks

(-2)

well thats you choice but I would say you buy it again. because mike will add multiplayer to the game. 1.2 just added 4-5 new items and nothing more.