Overstock bitcoin experience

[ultrix]

Today, Overstock.com brought their Bitcoin processing system online.   I figured since they're team players, I'd order a few hundred dollars of things I'd usually order from Amazon.  Their payment processing system was flawless.  I got a bitcoin address to send payment to, total to send.  Sent the payment, waited maybe 5 seconds, then clicked "confirm payment".  Received an email from them confirming my order within 5 seconds or so.  +1 to Overstock.

On a side note, this may have saved me a ton of hassle in the long run as I just received a phone call from Overstock asking if I had placed two orders shipped to two different addresses.  As it turns out my credit card number was stolen and someone ordered a pile of stuff with it from Overstock and from the list of charges today, a half a dozen other retailers.   I love how the financial industry badmouths the security of Bitcoin when they rely on shared secret security mechanisms (credit cards). +2 to Overstock.

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[Kenshin]

Interesting, good luck in with your CC company.

[sbfree]

WOW, so overstock now takes bitcoin, I thought their CEO said it would happen sometime in JUNE 2014?

[Rannasha]

WOW, so overstock now takes bitcoin, I thought their CEO said it would happen sometime in JUNE 2014?

It turns out integrating Bitcoin-payments was easier than anticipated

[joesmoe2012]

 What exchange rate do they go by?

[ultrix]

What exchange rate do they go by?

It appears to be some kind of moving average vs a few exchanges as it was higher than bitstamp/btc-e but less than gox.

[joesmoe2012]

What exchange rate do they go by?

It appears to be some kind of moving average vs a few exchanges as it was higher than bitstamp/btc-e but less than gox.

That sounds reasonable enough.

[camolist]

What exchange rate do they go by?

they use coinbase checkout   which basically seems to get you the coinbase sale rate for spending your coin without paying the 1% sell fee

[joesmoe2012]

What exchange rate do they go by?

they use coinbase checkout   which basically seems to get you the coinbase sale rate for spending your coin without paying the 1% sell fee

Also isn't coinbase doing a promotion where the 1% is free for the first $1mil for the merchant as well?

This must be coinbases biggest customer as of yet.

[exstasie]

Nice!  That's great to hear that the transaction went smoothly.  Always wondered how long it would take to make the actual transaction.

[zvs]

I did transaction, it gave me 'success' message, then after I clicked OK, it replaced it with a 'not success' message, and said to contact bitcoinsupport@overstock.com

I sent in a msg with he transaction details for 30b6a9ad9ac143406e8368542cffa5fd8055fc33cf38e90a378f2a937204b3cd , about 3 minutes after order was placed and bitcoins were sent

if I had paid for something via CC and had that amt deducted & had the merchant still saying that I hadnt paid yet (I got an email saying how I had left stuff in my shopping cart),  i'd be on the phone with my CC company

it's too bad the seller holds all the strings with bitcoins

[rammy2k2]

they had over 120k USD sales in bitcoins in less than 24 hours

[zvs]

Alec: For this information you need to contact bits coin provider.

i smell an imminent BBB complaint

[Kluge]

Alec: For this information you need to contact bits coin provider.

i smell an imminent BBB complaint

No way. That can't seriously be what the CSR wrote. Maybe they decided not to train anyone and just forward "bitcoinsupport" to regular support.

Fwiw, did a couple transactions through O yesterday - flawless.

[zvs]

Alec: For this information you need to contact bits coin provider.

i smell an imminent BBB complaint

No way. That can't seriously be what the CSR wrote. Maybe they decided not to train anyone and just forward "bitcoinsupport" to regular support.

Fwiw, did a couple transactions through O yesterday - flawless.

I'm mailing coinbase first since overstock.com is clearly clueless as to what's actually going on.

As far as the transaction went, it actually popped up a message saying it was successful....  then about 2 or 3 seconds later, it popped up a different message about there being a problem with the transaction and to contact 'bitcoinsupport@overstock.com' for assistance.  So, I did & gave them the transaction id:

Hi,

It is trying to bill me a second time for the item @ [link removed]

Bitcoins were paid via Coinbase, transaction details:

Status: 1/unconfirmed, broadcast through 7 nodes
Date: 1/10/2014 12:27
To: 1A1u7688A3yySwvtWoypw6zakkJ1fZ38TU
Debit: -0.16212299 BTC
Transaction fee: -0.0001 BTC
Net amount: -0.16222299 BTC
Transaction ID: 30b6a9ad9ac143406e8368542cffa5fd8055fc33cf38e90a378f2a937204b3cd



Thanks,
James

.......  that was sent at about 12:30PM CST & I never got a response to it,  This Alec guy was someone in the 'live chat' just now.   I asked if I should expect to receive a message before noon on Saturday and he said yes... so I said, OK, I'll be looking forward to it then.

coinbase will also have ~12 hours to respond

then since i was dumb enough to send them bitcoins, I have no way to get them back so I'll have to resort to a BBB complaint.  I guess it's good I used camstudio to record the whole process

ed: oh, I suspect the

https://blockchain.info/address/1A1u7688A3yySwvtWoypw6zakkJ1fZ38TU

1CgQ3PyrTG36iErVffHZ2wEc9q8wiMBEvX  address there is probably coinbase's 'fee' address?   hmm, nm, that's multiple inputs.. like 10 diff addresses.  probably still some coinbase fee related account

[jboss]

I couldn't find any reasonably priced Macs on the site.
Their inventory sucks.

Only thing I found was the basic Macbook Air model +200$ over Apple Store or Amazon. LOL>

[zvs]

update:  bitcoinsupport wants me to can you verify the email address that your Bitcoin wallet is under for me to send you the funds back?

however, I don't have a coinbase account