Overstock.com accepting bitcoin

[pbody]

http://www.nbcnews.com/technology/bitcoin-boon-overstock-become-biggest-retailer-accept-virtual-currency-2D11785539

[vadoff]

*accepting

[markjamrobin]

*accepting

*expecting to be accepting ;P

[BitcoinBarrel]

That's great news, I wonder why it's taking them so long to get it implemented?

[gadman2]

Amazon is next.

[Xiaoxiao]

Amazon is next.

Definitely not happening.  Overstock to Amazon is like Lake Tahoe to Pacific Ocean.  Not when VISA, Discover, AMEX, MAstercard is around.

[titulng]

unbelievable..    I'm Shocked

[Trance]

Amazon is next.

If Amazon is next, there will be a BIG BANG within the BTC network! Value will skyrocket imo~

[BTCisthefuture]

A bit more detailed info here at a new coindesk article  http://www.coindesk.com/overstock-unveils-more-details-bitcoin-adoption/


I love the quote pointing out that it was only 10 years ago that mcdonalds started accepting credit cards.

I run into a lot of bitcoin naysayers constantly pointing out that very few places accept bitcoin right now, failing to remember just how young bitcoin is and how other payment options like credit cards or online shopping took decades to finally reach the point they have currently reached.  Although most places don't accept bitcoin as of right now, the rate at which new merchants are starting to accept it seems very promising that in the future bitcoin will be accepted at most places.

[BTCisthefuture]

Amazon is next.

If Amazon is next, there will be a BIG BANG within the BTC network! Value will skyrocket imo~

Which leads to an interesting question, if by places accepting bitcoin causes the value to skyrocket, why would be inclined to spend their bitcoins instead of holding onto them to make a nice profit. If companies start accepting bitcoin but no one uses it, what effect would that have on merchants wanting to stick with bitcoin.

Not trying to sound negative, just trying to look at all things related bitcoin and try to predict the type of impact it could have.

[Lauda]

near the end of the second quarter of 2014

This will take some time.

[sang]

Amazon is next.

If Amazon is next, there will be a BIG BANG within the BTC network! Value will skyrocket imo~

Which leads to an interesting question, if by places accepting bitcoin causes the value to skyrocket, why would be inclined to spend their bitcoins instead of holding onto them to make a nice profit. If companies start accepting bitcoin but no one uses it, what effect would that have on merchants wanting to stick with bitcoin.

Not trying to sound negative, just trying to look at all things related bitcoin and try to predict the type of impact it could have.

Overstock could probably have 1% of their sales transacted in bitcoin and they would see a return on investment in setting up their payment network. "No" fees is pretty enticing to a low margin retailer.

[hilariousandco]

Interesting to see how this plays out. Hopefully it'll go well and more retailers will take note. If it goes bad it could be disastrous though. I've never heard of Overstock, so I have no idea how big it is, but any merchant taking Bitcoin is good on the whole.

[Eri]

Amazon is next.

If Amazon is next, there will be a BIG BANG within the BTC network! Value will skyrocket imo~

Which leads to an interesting question, if by places accepting bitcoin causes the value to skyrocket, why would be inclined to spend their bitcoins instead of holding onto them to make a nice profit. If companies start accepting bitcoin but no one uses it, what effect would that have on merchants wanting to stick with bitcoin.

Not trying to sound negative, just trying to look at all things related bitcoin and try to predict the type of impact it could have.

6$ is still 6$, whether its in USD or BTC. so even if you spend some there is no reason why you cant top up your balance every so often while still enjoying the rising value.

[iPaulito]

That's great news, I wonder why it's taking them so long to get it implemented?

5M unique visitors per day, devoting 5-6 person, risks considerations aso, it takes some time in a big company which has quite a lot to lose if sth does not work out

[Mowcore]

Just want to point out that when I went to check out www.overstock.com I was greeted with

Now shipping to United Kingdom

We make it easy to shop from United Kingdom with:

All prices in Pounds sterling
Duties and taxes calculated at checkout
Low international shipping rates
Guaranteed landed costs (no additional charges at delivery)

How good is this?   well, those prices are pretty insane, not very lol

[hilariousandco]

6$ is still 6$, whether its in USD or BTC. so even if you spend some there is no reason why you cant top up your balance every so often while still enjoying the rising value.

Not if the value drops. I suppose they could use a payment processor that converts the BTC into cash straight away, but I'd rather hold on to the BTC for a bit in case the price rises, but obviously this is risky and difficult for businesses.

[LiteCoinGuy]

Amazon is next.

If Amazon is next, there will be a BIG BANG within the BTC network! Value will skyrocket imo~

Which leads to an interesting question, if by places accepting bitcoin causes the value to skyrocket, why would be inclined to spend their bitcoins instead of holding onto them to make a nice profit. If companies start accepting bitcoin but no one uses it, what effect would that have on merchants wanting to stick with bitcoin.

Not trying to sound negative, just trying to look at all things related bitcoin and try to predict the type of impact it could have.

why there is always only one option? i can spent and save coins at the same time.


@ hilariousandco

of course they will have a payment processor.  

[hilariousandco]

@ hilariousandco

of course they will have a payment processor.  

Read my post again .

[BTCisthefuture]

Amazon is next.

If Amazon is next, there will be a BIG BANG within the BTC network! Value will skyrocket imo~

Which leads to an interesting question, if by places accepting bitcoin causes the value to skyrocket, why would be inclined to spend their bitcoins instead of holding onto them to make a nice profit. If companies start accepting bitcoin but no one uses it, what effect would that have on merchants wanting to stick with bitcoin.

Not trying to sound negative, just trying to look at all things related bitcoin and try to predict the type of impact it could have.

6$ is still 6$, whether its in USD or BTC. so even if you spend some there is no reason why you cant top up your balance every so often while still enjoying the rising value.

Correct but if you have $6 you can use on a debit card  or $6 in bitcoin that you think will be worth $12 next week. Very few people outside of some bitcoin enthusiasts would probably want to spend $6 that they expect to go up in value.  If you can top up than that means you already have the cash to do so so why not just spend that cash instead of converting it to bitcoin only to do the same thing with it.

I think it is a very valid arguement and most people I've talked to about bitcoin tend to say the same things when I say they should use bitcoin , they typically say  1) why buy something with cash so i can buy and item when i can already buy that item direct with the cash   2) why spend something i expect to go up in value .

I for one am a huge fan of bitcoin and the potential it has for international transactions, control over your own money without heavy fees, and microtransactions along with some of the benefits of remaining somewhat anonymous.  So for me personally I will be buying some bitcoins specifically to use at overstock.com to support them and support the community.  Just like I try to do at any place that choses to accept bitcoin recently, so long as they have some items or services I like or want.