Bitcoin Forum

Obvious by now everyone knows the Overstock.com surprise launch yesterday and success yielding thousands in sales in the first day. Coming from a finance background myself and working for a fortune 500 for 13 years prior, one thing that drives change is a potential at moving the needle (bottom line) is a new revenue opportunity. Its not a matter of if, its a matter of when now. There will be more large retailers working with a exchange(s) to start accepting Bitcoins.

The question is, who will be the next big announcement? Or maybe the question is, who would you like to start accepting?

Additionally, why is this type of thread important? Major companies have marketing and research departments that's entire job is to vet out bottom line changing solutions. Post who you think will be next or who you would like to see accepting in the near future. We all know this can happen amazingly quick now given the overstock.com implementation.

I think if the likes of Amazon, Ebay and Rutikon (play.com) started accepting payments with Bitcoin it would suddenly change the market and everyone would know about it and educate themselves on it. Personally don't think they will any time soon, but if they do it will be great and the success of Bitcoin .

The next obvious step would be for this large online retailer to hold on the Bitcoin that they new started accepting. Do they not have confidence in the Bitcoin currency?

I'm pretty sure when large retailers accept Bitcoin it's because they are getting pressure from their supply chain.

When Bitcoin really takes off in China you'll know it because suddenly out of nowhere you'll see Walmart upgrading the POS terminals to display bitcoin QR codes.

From a finance perspective I do not agree with that statement

Long-term convergence of fiat currencies to a digital currency like Bitcoin would need to occur before that would ever happen.

Every large transaction for a physical item (short of the pre-2013) transactions like a pizza and such have been through a clearing house/exchange model. Even large entities like Gfty.com exchange bitcoins for fiat but are instantly locking in a rate with an exchange and converting the coins into cash.

Why? Because that's what pays the bills. Power companies, employee salaries ... all of the operational expenses are paid in fiat. So they are REQUIRED to convert to fiat to stay in business...

What you want is something that WILL take time to adapt and requires most of those necessity (power, water, trash, payroll etc) to accept and exchange in bitcoin, accepting it as a currency.

Until then....

We have to encourage the market that we WANT to SPEND our Bitcoins for GOODS. This will create a equilibrium of exchange for goods!

I expect numerous third party social media apps to welcome Bitcoin as they are worst hit by chargeback.

They are still not officially accepting since it is not available for international payments (e.g. the whole world).

Maybe to you, but to me overstock.com accepts bitcoin. Trying to dispute that fact is just dumb. Overstock.com IS accepting bitcoin.

Coinbase and overstock are both US companies, by the way.

Just seems to me that it is a little misleading and egocentric to claim that overstock now "officially" accepts BTC when they only accept it in the U.S.

weather it is 1 country or many they still accept it somewhere and as they tweeted they are working on accepting it globally.

They "rushed" to accept BTC becasue the CEO said he didn't want anyone else to beat him to it.  They said int. acceptance is coming.  I just wonder if he knows of some other large retailer/website that was trying to beat him to it...

Then once they do it would be appropriate to open this thread, imagine you clicking on a "Ebay now accepts Bitcoin!" thread in awe, going on eBay.com, selecting a beautiful golden watch only to find out after an hour long wait in support that they only accept BTC in Uganda.

I was pretty pissed since I still want that watch but I don't want to reward them for wasting my time and essentially being no different than Amazon/eBay or anyone else...

I think Amazon will be jumping on board soon, hopefully. Ebay and PayPal are buddies and PayPal hates Bitcoin so I don't see that happening. Amazon has always been at the forefront of the internet and if they are smart they will understand Bitcoin's potential.

Not misleading at all. Overstock is a U.S. company that operates worldwide. Anyone overseas with a U.S. address, which could be even a maildrop, can buy from them and easily ship overseas. Expats do this all the time. Overstock had sales revenues of 1.1 billion USD in 2012. I'll bet that most of that revenue came from shipments to the U.S., not overseas. So why is that egocentric? This is a U.S. company, after all.

Amazon would be amazing.

Newegg, however, looks like being next.

I hope you are right. Amazon has more than 50 times as much sales revenue as Overstock. (About 61 billion versus 1.1.billion)

If I went on ebay.COM and I was in Uganda I would expect whatever I saw, seeing as how a US site is not generally trying to cater to Uganda customers  ::)

Are you for serious? I didn't think it possible one could be this dumb. You've lived overseas for a while now, right? Does this really bring you that much of a shock that a US company doesn't mention the exclusion of foreign countries for bitcoin payments specifically? In what was mostly quick press releases, no less...

When they claim to begin accepting Bitcoin they don't specify that they don't really accept BTC for international shipments WHATSOEVER, ANYWHERE, not in ANY media. All I'm saying is that it's misleading to people who live outside of the U.S.(the vast majority) that actually take time to browse through their website ONLY because they accept BTC and selecting a product only to find out they cannot checkout with BTC, it's misleading and it's wrong. How can you possibly be this dull to miss the whole point?

Sounds like a pointless argument.

Overstock officially accept bitcoin in the US.

They are working on officially accepting it globally.

Because it's a US site, in a US press release, and anything to do with international is moot to the target audience.

It is pointless to argue, so this is my last post on the matter.





 

In regards to who is next though I would love to see amazon or netflix get accepting

NewEgg is the rumour

ebay + Amazon - no chance in the near future

I have made an illustration so people won't have their brain overheating.
http://i41.tinypic.com/5yg5c3.jpg

BS, international shipping from US E-Tailers is primitive and inconsistent at best. Hey they can barely sell to Canada. Overstock sells to Americans, Americans can buy there with Bitcoin.

I'm gonna venture a guess they will too. Which would be awesome. Love Newegg


Also is it surprising a US company would open it doors to btc to the US only? If that's shocking news to you, then idk what to tell you. Stop arguing about it

Netflix are rumoured to be considering making a bitcoin announcement soon:
http://www.reddit.com/r/Bitcoin/comments/1ue9kh/max_keiser_netflix_considering_bitcoin/

unsure, if amazon is taking bitcoins?

this very damn important website gives a hint (also written in an other thread)

www.isamazonalreadyacceptingbitcoin.com  ;D

I think Amazon has to follow EXTREMELY soon. If they're working on building delivery drones and Bitcoin can take only a few hours to set up with Bitpay, they gotta do it. Ok, it might take a bit longer for Amazon to set up Bitpay because of their gigantic scope and variety of products/services, but still, they can do it. And they will, soon.

Not to be pessimistic but Overstock.com could get spooked like Biadu and others.
They're just testing the waters.

I hope it's successful for Overstock but probably less than 5% of their customers use Bitcoins

probably less than 0,1 percent. yet.

still nearly noone uses bitcoin. how many years took it for paypal to get  those 7 percent of online-payment market? the company was founded 1998 - good ol times. be prepared for bitcoin in 3 to 5 years. for amazon i expect at least yet another year.

Spooked by Baidu? What are you talking about? Baidu got spooked by the Chinese government lol.

Go do some research before posting nonsense, please.

Looking at the recent Newegg tweets, it seems that even if they're not the next to start accepting BTC they're somewhere in line this year.

Yeah it's gonna take some years before more adoptions come into play I'm going to guess. Going to be interesting to see where all this goes, kinda like in the mid 90's with the whole technology boom. Pretty neato

Now Overstock has started the ball rolling, you'll find big players like NewEgg implementing bitcoin within a few weeks. There's no reason to wait around now :)

I sincerely look forward to being able to report on that. 2013 was a year filled with a great deal of interesting news of growth and adoption -- and if 2014 shows the same rate, we're in for a wild ride.