Bitcoin Forum

http://www.overstock.com/bitcoin

I just ordered something and checked out with bitcoin so it is not a rumor, it is a fact and works just fine. 

Please try to find something you need on there and order it and pay with BTC so we can reward them for making this bold step and helping our community and the world as a whole.

yep - thats it

The Grand Experiment Goes Live: Overstock.com Is Now Accepting Bitcoins (http://tinyurl.com/overstockacceptsbitcoin)

Now we can wait for short until the other shops follow up ..

This is great!!!! going to take a look  8)  :o

Lets tell the world  :o

Great line from the Overstock CEO: "It helps us fight the machine" (big banks/government)

Not exactly when they turn it instantly back to fiat, but I guess it's a start.

The world already knows - just a few minutes ago somebody bought 600 coins on gox   ;)

haha yes our BTC world know but NOT THE WORLD! but I just hope this brings the price up again. hoping 2000 buy march !

Any thoughts as to whether this will make a meaningful difference towards chilling BTC volatility?  I feel like it's definitely a step in the right direction, right?

yes and it will help to get other BIG retailers to hop on the BTC train!

This is a great line.  Depending on the success of this roll out (if it yields good returns for overstock), I am sure that many retailers will follow suit.   I am kind of curious to see how this will affect the over all value of 1 btc, if they get an overwhelming number of orders, and just immediately sell the btc back into USD via whatever exchange they have the agreement with?

Dumb question, but which exchange are they going to use?  Have they publicly said?

What do you mean? They use an automatic payment processor.

They are using coinbase

Since overstock is working with Coinbase Ovverstock taking bitcoins, isn't cinbase also trading litecoin. Get the idea? This just might go crazy,

How do you know they are?  With Coinbase, they can choose any percentage from 0% to 100% to convert automatically.  They may be keeping it in bitcoin for 30 days (same as when credit card payments would come).

Coinbase, so pretty much Bitstamp.  It was cool checking out.  They recognized that I was logged into Coinbase and offered to take payment directly from my account with a single click.  Awesome ease of use!

Please state (in general terms if you are concerned about privacy) what you bought with bitcoin at Overstock.  Everyone make at least a small purchase and list it here.  Support this move by Overstock and we all win.

I bought my daughter a book for school.

Time to get this economy going!!  Time to shop!!

OK, nice.
But it is BIG FAIL!!! It is available only on US site. On international site this type of payment is not available. This is again one of basic ideas of cryptocurrencies - worldwide, borderless!!!!

+1

Yet. It is not available yet. They are probably waiting to see if there is any uptake on the US site, and if there is then they will expand to the rest of the world.

They told me they're working on it.

I just hope this works well for them. The only thing I an see that may go wrong is when Bitcoins take a dive and they technically loose profit. I'm pretty sure they have that figured out anyways.
 

Coinbase has an option to automatically convert it into USD. They are probably doing that for most of their incoming funds.

^This

We need to show support for them taking a risk with adopting BTC as payment.  Even if you don't need something, buy something small so they can report high transaction counts.

I agree. What is their international site which ships to the UK? Are products sent over from America or do they have European distribution.

Paying with BTC is only an option for items shipped to the US right now, other countries might be added later.

I know, pretty sure they said they will implement it later, but I wanted to know if they only ship from Stateside.