Does It Make Any Sense for Overstock.com to Accept Bitcoin?

[smoothrunnings]

This was posted on Linkedin.

http://www.businessweek.com/articles/2013-12-27/does-it-make-any-sense-for-overstock-dot-com-to-accept-bitcoin#!

Enjoy!

[franky1]

Right now, merchants seem to accept Bitcoin for three main reasons: They want press coverage, they’re libertarian fellow travelers, or they’re selling drugs.

what a narrow minded thing to say. i guess the writer of the article thinks that there are only 3 merchants in the bitcoin ecosystem, one being owned by a libertarian, one selling drugs (well thats gone now) and the third that doesnt do much real world business so is getting alot of free advertising through bitcoin.

yet..

i count over 20k merchants and thats just the ones i know about and all of them have different reasons to accept bitcoin

[zSprawl]

Right now, the press seems to cover Bitcoin for three main reasons: They want coverage, they’re libertarian fellow travelers, or they’re covering others selling drugs.

[yitingyou]

enough vital to BTC

[MrPalmer]

It absolutely makes sense for them to accept BTC, and I imagine one day we'll look back and think of them as pioneers.  Crypto could be a huge variable in online commerce.  Overstock is just ahead of the curve. 

[beetcoin]

even though they have not yet started to accept BTC, can you imagine the additional website hits they got from just going public with this? if i wanted more people to see my company, i'd just announce that i'd be accepting BTC.. and if i didn't want to, i'll have a change of plans at the last minute.

[Abdussamad]

Right now, merchants seem to accept Bitcoin for three main reasons: They want press coverage, they’re libertarian fellow travelers, or they’re selling drugs.

what a narrow minded thing to say. i guess the writer of the article thinks that there are only 3 merchants in the bitcoin ecosystem, one being owned by a libertarian, one selling drugs (well thats gone now) and the third that doesnt do much real world business so is getting alot of free advertising through bitcoin.

yet..

i count over 20k merchants and thats just the ones i know about and all of them have different reasons to accept bitcoin

Yeah that is ridiculous. Have you guys seen the number of hosting providers that have adopted bitcoin? It's quite amazing.

[Palmdetroit]

Yes it makes sense and now I just need somewhere to buy food!

[Kyt Dotson]

It's my suspicion that they could use the much lower fees and logistics associated with accepting BTC to give further discounts. Enough transactions and even a Bitcoin payment service would pay for itself rapidly while being cheaper than having to swallow credit transaction fees.

[black_swan]

It's convenient as they will covert to dollars immediately.
They use another method of payment, nothing more than that

[Trance]

Absolutely, it will create much more international commerce within the BTC community and also create productivity within the cryptocurrency digital realm! Everyone has their own theories and so forth, but in my opinion it would be something very innovative and lucrative for both worlds!