Bitcoin Forum

http://newsbtc.com/2013/12/19/overstock-com-begin-accepting-bitcoin-2nd-half-2014/

This is pretty big news!  Overstock.com definitely seems quite a bit of transaction volume.  It'll be interesting to see how many BTC transactions are conducted.

Yay!  Somewhere else to spend my coins when they are worth $10,000 each!   ;D

It is great news.  I wish they were not waiting until the second half of 2014 though.  Now would be better. ;)

the epitome of delusion here...

If this is true then my estimate is that this is more than just "pretty big" news...

If folks don't start spending them while they are worth less than 10k we won't see retailers take them successfully and they won't go up.  Kinda a catch 22.

Or did you mean you think they will be 10k when in Q3 2014. :).  I like that better.

This is indeed a huge news, once overstock.com starts accepting btc, it will open up a floodgate of other stores to follow suit.

Can anyone else corroborate the news, though?

There is no reason to think Bitcoin will not reach 10K USD soon. Remember when 10K BTC was worth a pizza ?

EDIT: Bitcoin hodler forever.

Alexa is ranking overstock.com as  nr. 661, nr. 137 in US (http://www.alexa.com/siteinfo/overstock.com)
This is a pretty good news actually.
Is there an official statements somewhere?

Pretty big news. I see Overstock commercials all the time here. I bought computer parts from them back in the day.

I do not think 10k in Q3 of 2014 is too far off.   ;D

Call me delusional if you want.  I don't care.  I am a hodler. ;)

Patrick Byrne was once under attack by questionable Wall St practices. I think he gas good motive to go bitcoin.

http://www.youtube.com/watch?v=M_FZO9-ZIWU

People thought and said the same thing about $1000 at the beginning of the year (heck, I'm sure I would have said it.)

Proof it's not a hoax :)  Audio of interview:

https://soundcloud.com/newsbtc/patrick-byrne-of-overstock

i dont know this company but when you guys say this is big, then its big :)

but overstock should give bitcoin more time than just 1-2 years. bitcoin is fucking new and they should be patient. and also it must be easyer to get bitcoin in the next years, then its easyer to spent. maybe they could also give a little discount when you pay with btc.

iam a crypto believer: so even when it takes more time so spent btc than dollars/euros at the moment, i would spent btc.

Awesome. I'm going to buy me one of these:

http://www.overstock.com/Jewelry-Watches/Zenith-Defy-Xtreme-Mens-Sea-Tourbillon-Titanium-Watch/4668328/customer-reviews.html?rsort=4

http://content.screencast.com/users/longgone1/folders/Snagit/media/abaa5dfd-cbd2-4f56-9d9b-a22043af688d/12.19.2013-20.15.png


Big site :)

I found a few things i want to buy for sure.

This is very good news to counter the china bullcrap.


If other retailers want to keep up they will have to accept also.

Hopefully the us gov't doesn't f*ck it up for us!

The ceo sounds cool about letting the free markets work like they should and a champion for liberty .

Overstock.com will get a huge boost in sales from all the new money made from bitcoin.

The second half of 2014? The fuck? It really isn't that hard to get Bitcoins accepted on your website if someone like me can do it but omfg they have lots of computer components too, I like a big retailer accepting Bitcoins :D.

That's just it.  They are NOT someone like you or me.  They are a multi million dollar retail business.  They can't just hire their brother in law to install a bitcoin plugin for their zencart installation.  They have to consider all the legal aspects and logistics.  Who they pay or if they develop in house.

6 months is actually kinda slim time wise IMHO for them to pull it off well.

Want to know what a bad enterprise size infrastructure can do?  One word: obamacare.

Eh, I suppose you're right in that respect and hiring my brother? Give me some credit! I'm not that bad lol I got it done eventually :D

One thing that's definitely going to be difficult and take up time is dealing with all the legal bullshit and working out what taxes you have to pay etc. if you decide to sell your coins, especially since they seem to be an international company I wonder who's jurisdiction they fall under?

Amazon.com e-cards are available through gyft now.  I have decided to buy anything I need through gyft.  Its a much easier way to get money off the exchanges.  You are basically just buying in-store credit.  If overstock.com accepts bitcoin directly, then I will definitely pursue that route.

Mr. Patrick Byrne, if you are reading this, share some of the benefits of accepting bitcoin with your customers. If you save 3%+ in credit card fees, consider giving a 1.5% "bitcoin" discount to the customer. That would surely encourage bitcoin use!

As far as I know they're a U.S. based company, so they'd be subject to the jurisdiction of the U.S. government and whatever state they're incorporated in.

A company the size of Overstock (and especially considering their business model) has day to day expenses in fiat currencies. I imagine they'd probably use something like BitPay, or perhaps a similar system built in-house, to immediately covert any Bitcoin payments to USD in their bank account. In that case, I'd think (layman's opinion, I'm not a lawyer or a tax accountant) that their tax liability would be the same as if they had accepted the same USD payment in cash or by check or credit card.

For the most part this is great news, I've bought things from Overstock before and being able to pay with Bitcoin means I'll be more likely to buy things there in the future. It should also be the final nail in the coffin of the old myth that Bitcoin is only useful for drug deals, money laundering and other such shady and/or illegal things. The only thing that really worries me is his comment about money being too important to be left in the hands of government officials. While that's true (and I'll add that it's too important to be left in the hands of bankers, also), hearing that isn't going to make too many people in Congress happy, they've been allowed for too long to believe that the powers granted to them by their elected office are greater than the rights of the people and their responsibilities to the people.

I want my Jewellery suppliers to accept Bitcoins now and maybe a supermarket lol :P

overstock and I go back 5 years.. they have a lot of good deals.  I purchased 3 intel w3680 cpus from them


http://ark.intel.com/products/47917/Intel-Xeon-Processor-W3680-(12M-Cache-3_33-GHz-6_40-GTs-Intel-QPI)

I created this upgrade thread for Apple Mac Pros.


http://forums.macrumors.com/showthread.php?t=1122551


One day overstock had a deal on the cpus about 490 usd each new sealed. I grabbed 3.


this is big news for btc.

Right, the question we should be asking is why would I spend my bitcoins instead of using a credit card when purchasing on overstock?

In the meantime you can use Snapcard to make purchases online.  I have used it, worked well. 

I would think that there are things that could be done to make it faster, but they are a big company and I am sure that they need to be careful in how they go about making any changes.

Also, I think they realize that they are still early in accepting BTC even if they start accepting it in the second quarter of next year.  At least they are giving everyone a "heads up" about their plans.  Maybe some other companies will try to beat them now. ;)

-support the bitcoin project
-ideology
-geeky
- so on

but i guess you mean "hard facts", like a little discount.