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Author Topic: Overstock To let International Customers Pay With Bitcoin  (Read 2191 times)
thew3apon
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August 28, 2014, 12:55:15 PM
 #21

Overstock shipping fee is too expensive. Not worth buying...
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August 28, 2014, 03:08:27 PM
 #22

Overstock has long been known as a domestic and electronic product retailer serving thousands of customers in the region of America. The brand hit the news a few months ago when plans for it to accept Bitcoin as a form of payment were first released. Once again the retailer has hit the headlines for similar reasons as it plans to start allowing international customers, from all over the world, to pay with Bitcoin.

Read the full story completely @ http://coinfinance.com/news/overstock-to-let-international-customers-pay-with-bitcoin
I thought this was pretty sweet. I was watching some T.V. last week and there was a Overstock.com commercial!  It stated that they are now accepting Bitcoin. I was quite shocked to be honest.

This is what every bitcoiner wants isn't it.The all embrassing arms of the law.

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August 28, 2014, 04:52:01 PM
 #23

The problem with international shipping is import tax. Not that we can't buy with bitcoins.

Import tax will be there even if you pay using credit card.

But you will save some money on foreign transaction fee using bitcoin.

I also expect overstock to give some discount for those using bitcoins, after some time.
After all, they make some savings on the credit card transaction charges.

This is true in theory but in reality the shops usually increase by 3-5% the price if the costumer pays with btc.
I think most merchants charge nothing extra for their customers paying in bitcoin. The issue is that they should be giving a discount because they are incurring less fees when receiving payment in bitcoin.

There are a few merchants that have gotten a bad deal from their bitcoin payment provider who are unknowingly charging a higher price for bitcoin.

And there are some who charge a 'transaction fee' if you pay using bitcoins.  Roll Eyes

http://www.coindesk.com/airbaltic-accepts-bitcoin-missed-opportunity/
giveBTCpls
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August 29, 2014, 04:59:48 PM
 #24

They need to stop fucking around with the fees otherwise no one but big ass holders are even going to bother buying with BTC. Make using BTC an advantage and not charge more if you want BTC to be a success merchants  Roll Eyes

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August 29, 2014, 05:49:12 PM
 #25

The problem with international shipping is import tax. Not that we can't buy with bitcoins.

Import tax will be there even if you pay using credit card.

But you will save some money on foreign transaction fee using bitcoin.

I also expect overstock to give some discount for those using bitcoins, after some time.
After all, they make some savings on the credit card transaction charges.

This is true in theory but in reality the shops usually increase by 3-5% the price if the costumer pays with btc.
I think most merchants charge nothing extra for their customers paying in bitcoin. The issue is that they should be giving a discount because they are incurring less fees when receiving payment in bitcoin.

There are a few merchants that have gotten a bad deal from their bitcoin payment provider who are unknowingly charging a higher price for bitcoin.

And there are some who charge a 'transaction fee' if you pay using bitcoins.  Roll Eyes

http://www.coindesk.com/airbaltic-accepts-bitcoin-missed-opportunity/
These companies are few and far between and will likely not receive the full benefits of accepting bitcoin that other merchants get. Also airlines often try to nickel and dime their customers as much as possible because they have to keep the actual cost of the ticket as low as possible to appear to be competitive.

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August 30, 2014, 01:56:24 AM
 #26

Overstock shipping fee is too expensive. Not worth buying...

Yes, if they can get their shipping provider to be more efficient then I would move over from amazon or a similar company in a heartbeat but as it is unless the product is significantly more expensive elsewhere there are other bitcoin alternatives like newegg that make more sense to me when factoring in the cost of shipping as well into my purchases.

botany
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August 30, 2014, 02:10:59 AM
 #27

The problem with international shipping is import tax. Not that we can't buy with bitcoins.

Import tax will be there even if you pay using credit card.

But you will save some money on foreign transaction fee using bitcoin.

I also expect overstock to give some discount for those using bitcoins, after some time.
After all, they make some savings on the credit card transaction charges.

This is true in theory but in reality the shops usually increase by 3-5% the price if the costumer pays with btc.
I think most merchants charge nothing extra for their customers paying in bitcoin. The issue is that they should be giving a discount because they are incurring less fees when receiving payment in bitcoin.

There are a few merchants that have gotten a bad deal from their bitcoin payment provider who are unknowingly charging a higher price for bitcoin.

And there are some who charge a 'transaction fee' if you pay using bitcoins.  Roll Eyes

http://www.coindesk.com/airbaltic-accepts-bitcoin-missed-opportunity/
These companies are few and far between and will likely not receive the full benefits of accepting bitcoin that other merchants get. Also airlines often try to nickel and dime their customers as much as possible because they have to keep the actual cost of the ticket as low as possible to appear to be competitive.

These companies say "We accept bitcoins" just to get media attention. Once they receive publicity, they don't really care. They seem to be real short-sighted.
itsAj
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August 30, 2014, 03:29:09 AM
 #28

The problem with international shipping is import tax. Not that we can't buy with bitcoins.

Import tax will be there even if you pay using credit card.

But you will save some money on foreign transaction fee using bitcoin.

I also expect overstock to give some discount for those using bitcoins, after some time.
After all, they make some savings on the credit card transaction charges.

This is true in theory but in reality the shops usually increase by 3-5% the price if the costumer pays with btc.
I think most merchants charge nothing extra for their customers paying in bitcoin. The issue is that they should be giving a discount because they are incurring less fees when receiving payment in bitcoin.

There are a few merchants that have gotten a bad deal from their bitcoin payment provider who are unknowingly charging a higher price for bitcoin.

And there are some who charge a 'transaction fee' if you pay using bitcoins.  Roll Eyes

http://www.coindesk.com/airbaltic-accepts-bitcoin-missed-opportunity/
These companies are few and far between and will likely not receive the full benefits of accepting bitcoin that other merchants get. Also airlines often try to nickel and dime their customers as much as possible because they have to keep the actual cost of the ticket as low as possible to appear to be competitive.

These companies say "We accept bitcoins" just to get media attention. Once they receive publicity, they don't really care. They seem to be real short-sighted.
I would argue that in order for this media attention to work the companies would need to, at the very least offer the same terms for bitcoin customers as they do for other customers. Otherwise the media could very well report that the company is punishing people who pay in bitcoin when it is incurring lesser costs.
botany
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August 30, 2014, 03:56:34 PM
 #29

These companies say "We accept bitcoins" just to get media attention. Once they receive publicity, they don't really care. They seem to be real short-sighted.
I would argue that in order for this media attention to work the companies would need to, at the very least offer the same terms for bitcoin customers as they do for other customers. Otherwise the media could very well report that the company is punishing people who pay in bitcoin when it is incurring lesser costs.

Sometime ago, it was news when a company started accepting bitcoin. Terms be damned. Smiley
itsAj
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August 30, 2014, 08:19:15 PM
 #30

These companies say "We accept bitcoins" just to get media attention. Once they receive publicity, they don't really care. They seem to be real short-sighted.
I would argue that in order for this media attention to work the companies would need to, at the very least offer the same terms for bitcoin customers as they do for other customers. Otherwise the media could very well report that the company is punishing people who pay in bitcoin when it is incurring lesser costs.

Sometime ago, it was news when a company started accepting bitcoin. Terms be damned. Smiley
It still is news when a new company starts to accept bitcoin (on a national level). When a smaller business starts to accept bitcoin it will likely be covered by the local press.
wasserman99
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August 31, 2014, 05:23:47 AM
 #31

The problem with international shipping is import tax. Not that we can't buy with bitcoins.

Import tax will be there even if you pay using credit card.

But you will save some money on foreign transaction fee using bitcoin.

I also expect overstock to give some discount for those using bitcoins, after some time.
After all, they make some savings on the credit card transaction charges.

This is true in theory but in reality the shops usually increase by 3-5% the price if the costumer pays with btc.
I think most merchants charge nothing extra for their customers paying in bitcoin. The issue is that they should be giving a discount because they are incurring less fees when receiving payment in bitcoin.

There are a few merchants that have gotten a bad deal from their bitcoin payment provider who are unknowingly charging a higher price for bitcoin.

And there are some who charge a 'transaction fee' if you pay using bitcoins.  Roll Eyes

http://www.coindesk.com/airbaltic-accepts-bitcoin-missed-opportunity/
These companies are few and far between and will likely not receive the full benefits of accepting bitcoin that other merchants get. Also airlines often try to nickel and dime their customers as much as possible because they have to keep the actual cost of the ticket as low as possible to appear to be competitive.

These companies say "We accept bitcoins" just to get media attention. Once they receive publicity, they don't really care. They seem to be real short-sighted.
Both overstock and newegg seem to care about bitcoin. From what I can tell they are well aware of the benefits of accepting bitcoin from a technical and cost perspective and are likely trying to realize additional benefits of accepting bitcoin from expanding their market share.

Timetwister
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September 02, 2014, 03:04:25 PM
 #32

Great. Now we just need to get rid of custom taxes.
Klubknuckle
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September 02, 2014, 03:19:19 PM
 #33

Great. Now we just need to get rid of custom taxes.

That is the hardest part, overstock doesn't allow modify the invoice.

bitbinn
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September 02, 2014, 03:55:07 PM
 #34

Overstock shipping fee is too expensive. Not worth buying...
how much are shipping fees, anybody knows?
It is very good news overstock is accepting bitcoins!
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September 03, 2014, 09:32:45 AM
 #35

Great. Now we just need to get rid of custom taxes.

That is the hardest part, overstock doesn't allow modify the invoice.

We'll have to get rid of governments then Smiley Or at least of governments that steal so much from us. We should copy countries like Hong Kong, where there aren't custom taxes.
wasserman99
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September 04, 2014, 06:45:47 AM
 #36

Great. Now we just need to get rid of custom taxes.

That is the hardest part, overstock doesn't allow modify the invoice.
If they did this they would be committing fraud and would be subjecting themselves to criminal action against them and would possibly lose the ability to do business overseas.

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