Overstock - positive experience

[bitlegger]

just another example of why Bitcoin is the best way of conducting on-line business:

I made a purchase from Overstock and mistakenly overpaid using bitcoin. One chat session and one e-mail and the issue was resolved within hours, they quickly found the transaction, and refunded excess payment amount which is again immediately available for spending

when something like this happens with credit card payment it takes weeks to completely resolve and takes several phone calls at least

[deluxeCITY]

I think the TOS that coinbase uses (overstock uses coinbase) says that you must pay the exact amount and if you pay more or less it will be returned to you less a miner's fee.

[RedhatCAT]

I had a great experience with dell recently too. I selected the computer that I wanted to buy, clicked on checkout, selected pay with bitcoin, an address popped up for me to send the coins to, I did and the payment was confirmed instantly.

It was a very smooth transaction.

[maurya78]

Great to hear that there are safeguards against overpaying
Goes to show that you don't need chargebacks to facilitate good commerce

[Caesium]

Great to hear that there are safeguards against overpaying
Goes to show that you don't need chargebacks to facilitate good commerce

Until the retailer is unwilling to cooperate then I'd take a credit card chargeback over asking politely for them to return my money via the blockchain any day of the week.

[Shen yingying]

just another example of why Bitcoin is the best way of conducting on-line business:

I made a purchase from Overstock and mistakenly overpaid using bitcoin. One chat session and one e-mail and the issue was resolved within hours, they quickly found the transaction, and refunded excess payment amount which is again immediately available for spending

when something like this happens with credit card payment it takes weeks to completely resolve and takes several phone calls at least

This is the great experience about the BTC comparing with credit Card. 

[oceans]

This is great to hear. I have had so many problems where I have overpaid using a credit card and the waiting time to get the excess back is ridiculous. Knowing that getting excess back and it being available for use straight away within such a short space of time is brilliant.

[HeliKopterBen]

Great to hear that there are safeguards against overpaying
Goes to show that you don't need chargebacks to facilitate good commerce

Until the retailer is unwilling to cooperate then I'd take a credit card chargeback over asking politely for them to return my money via the blockchain any day of the week.

It goes both ways.  If you can claim the retailer is unwilling to cooperate and the credit card company sides with you, then there is no stopping you from defrauding the retailer.  In that case why would retailers want to work with you?  Hopefully reputation systems will make it easier to identify trustworthy retailers (and consumers) in the future.

[Bitcoins101]

Great to hear that there are safeguards against overpaying
Goes to show that you don't need chargebacks to facilitate good commerce

Until the retailer is unwilling to cooperate then I'd take a credit card chargeback over asking politely for them to return my money via the blockchain any day of the week.

It goes both ways.  If you can claim the retailer is unwilling to cooperate and the credit card company sides with you, then there is no stopping you from defrauding the retailer.  In that case why would retailers want to work with you?  Hopefully reputation systems will make it easier to identify trustworthy retailers (and consumers) in the future.

It's a numbers game. Who cares if .5% of buyers are fraudulent if the rest are good, honest buyers? Credit cards and chargebacks are actually an important part of the eCommerce world and I would actually like to someday see an altcoin which utilizes some sort of escrow/claim process on all transactions. It would take off if implemented properly.

[counter]

Thanks for the detailed review of your experience with Bitcoins on their site. I had been checking out the site and it is good to know that the process is a positive experience.