Bitcoin Forum

My roommate wanted proof that things could be bought with bitcoins so I purchased a ps3 game(Dark Souls 2) from Overstock.com instead of my usual online store, Amazon.  I never knew Overstock had so many up-to-date items; used to think they only sold older items for some reason.


update edit:  Overstock did not have enough copies of Dark Souls 2 to fulfill my order so my btc's were refunded back into my Coinbase account.

I've been buying from them lately, and I have to say their customer service is top notch.  I've called a couple times and gotten a competent human within 20 seconds each time.

Yeah I am actually surprised at how well Overstock operates.  I've never had an issue paying with Bitcoin and getting my stuff only a couple days later.  I love everything about them.  I'd say my only complaint is now I have another thing chiming my inbox with "10% coupon 1 day only" sales, like, everyday.

Aside from that I will buy from there whenever convenient and whenever the price is right.  I much rather pay for things in bitcoin than any other way.  Just wish more people in this community felt the same way.

Overstock is still not accepting BTC from international customers.

Overstock is great and at times even cheaper than Amazon!

lol, that's quite against the idea of bitcoin

WOW,

I'm actually sorry to hear this. The only thing I could think of is this is not an Overstock.com issue and more of a BTC Merchant Service Issue. I never looked into this or considered it. Keep in mind that although Overstock.com accepts BTC they're getting their fiat currency deposited into their bank account from their BTC merchant service which I think they are using CoinBase.com to process BTC which would be USD. Overstock.com not accepting BTC for international purchases is not the fault of Overstock.com if they can not find a Merchant Service that converts BTC to your country's currency.

Hopefully Overstock.com is actively looking for a Merchant Service that could provide the currency conversion in your area or better yet both bitpay.com and coinbase.com step up and go international.

it's most likely a shipping issue. shipping is really expensive overseas, and if there are problems with the order that it needs to be returned, then it becomes a huge headache.

just speaking based on my own personal experience, in which i ship overseas from the u.s.

and by the way, i just today switched my website to accept bitcoin, AND disabled the ability to use a credit card. fuck em!

Every day, sometimes multiple per day. Finally had to opt out since they were never for anything I wanted. So far they have honored the opt out.

It kind of is - they could choose to keep BTC instead of converting it.

Yes, rumors has it that they will be using the new Gox that supports many currencies ;D ;D ;D ;D ;D ;D
Regardless to say, probably no payment back to the merchant....

LOL
 ;D ;D ;D ;D ;D ;D ;D ;D

My favorite thing about shopping there is the security. As a test, I gave my account information to a friend and offered him 1BTC to try stealing from me. He could find my shipping address and see what I had bought but there was nothing he could steal. No credit card is associated with the account. If there was a card, he would have it. Go Bitcoin!

Why would they need to convert to local currencies of international customers?

I hate shipping overseas because all EU countries have import documentation requirements and expensive import taxes.  If I sold something for $100USD, electronic goods gets taxed the most and shipping is expensive.  That $100 item becomes a $175 item after shipping and fees and the customer usually wants the cheapest and most unreliable shipping method.  If it gets lost because a lot of thieves work in the postal services in both the US and abroad a good % of goods are lost due to theft or damage.

International customers if you want your goods safe you need to opt for private delivery service rather than government sponsored ones.

I definitely favour bitcoin accepting merchants. I'm even willing to pay a touch more (for the cause and all that), even though one of the benefits of bitcoin could/should be slightly reduced prices (the merchant's cost savings passed on to customers).

Case in point, only last week I opted for scan.co.uk rather than ebuyer or Amazon.

In fact, I went one step further: I paid in bitcoins and then immediately bought more bitcoins to maintain my bitcoin balance. :)

Yup Overstock is awesome!

Definitely not a wise thing to do. In addition to the legal formalities and complexities, the volatility is a major factor.

Glad to here they are doing so well.
The CEO said a few weeks ago that they are holding many $millions in BTC.

If that is the reason, maybe for tax purposes? It could get potentially very complicated and costly.

I am non-US

I would totally order from Ovberstock if they accepted btc and shipped to my geography

Matter of time hopefully

Byrne the CEO said they will be building a bitcoin reserve of 5-10% of the bitcoins they take in. Google it, and try to be better informed before posting FUD.

Wait so I cant use this being based in the UK? You sure ?


Edit: yea I think your right dam that's a shame.

What FUD? At least make sense when you accuse someone. What about that statement made you fearful, uncertain, or doubtful? About what are you so sure that I am not informed?

Fact is, they could choose to keep all revenue in BTC, in which case they wouldn't need to find a service to convert. Yes, it would be risky. They've chosen not to take that risk. So it is the "fault" of Overstock.com - though a better word would be "choice". I'm not saying their choice is wrong (or right), I'm just saying that it is their choice.

FTFY.

I guess overstock might be victim of its brand.

How/why does this even happen?

Because 'international customers' include filthy Russians who might try to jam up the system with fraud attempts.  America customers typically don't attempt so much fraud.

They adapted their systems to bitcoin in a very short period of time (two weeks, as I recall). So it's unsurprising that some things got left out. That doesn't explain why they've not added it since; perhaps they are choosing to wait and see how it goes before changing their systems again. Perhaps they have other changes that they want to roll out at the same time, and those other changes are taking longer.

Logically I'd have expected them to save more money and risk by shifting some of their sterling revenue into bitcoin, so I'm surprised it's taken this long.

The thing is, Amazon seems to have a larger selection than Overstock. I wish Bezos would wake up and start accepting BTC.

I expect BTC international purchases to be a thing in the future, but the laws are grey enough as it is.  It might take some time.

As for purchasing from Overstock.  I have been buying from them to furnish most of my new apartment and have spend close to 2BTC there now.  I became a stock holder also.  I want to support a company that shares my beliefs and values and provides killer customer service in any way I can.

So there ya go :P

They must have started as "Overstock" (which I seen to remember from a long time ago), and later expanded into new items.
Accepting BTC was a great move for them; Just in time to get good publicity, before "everyone is doing it".

I too have started purchasing less from amazon and started (for the first time ever) buying from Overstock.com, because they allow me to use a non-empire based form of money.

After reading about how awesome overstock is and them accepting bitcoin, I decided to give it a look.

Look around, make a list of shit I want.  Went to put through a $2,000 order, and BOOM. They don't accept Bitcoin for international order.

I'm somewhat fucked off right now.

Sounds like a very nice place - man!

Guess they lost out on money.  I wonder if it has to do with international taxes rules that prohibit international sales in bitcoin; they are not a small company that can get away with doing things improperly.

this is great for bitcoin showing people how to purchase items directly with bitcoin is going to open up minds to a lot of epople seeing that it is actually usable and easy to use. or spend