124000 USD from bitcoins order from Overstock.com

billyjoeallen

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Hide your women

Quote from: gog1 on January 14, 2014, 08:24:35 PM

Quote from: BitchicksHusband on January 14, 2014, 07:54:01 PM

Quote from: billyjoeallen on January 11, 2014, 04:25:18 AM

update: OS refunded my funds after the glitch...in bitcoins! even though the price went up. will be buying from them in the future.

Same with Bitchick. She accidentally overspent .68 and got .7 in return.

how does this work? anyway to get some free btc?

Too late. They fixed the glitch.

gog1

hero member

Activity: 756

Merit: 500

Quote from: BitchicksHusband on January 14, 2014, 07:54:01 PM

Quote from: billyjoeallen on January 11, 2014, 04:25:18 AM

update: OS refunded my funds after the glitch...in bitcoins! even though the price went up. will be buying from them in the future.

Same with Bitchick. She accidentally overspent .68 and got .7 in return.

how does this work? anyway to get some free btc?

BitchicksHusband

sr. member

Activity: 378

Merit: 255

Quote from: billyjoeallen on January 11, 2014, 04:25:18 AM

update: OS refunded my funds after the glitch...in bitcoins! even though the price went up. will be buying from them in the future.

Same with Bitchick. She accidentally overspent .68 and got .7 in return.

Tzupy

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Activity: 2128

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Quote from: TERA on January 12, 2014, 09:20:33 AM

Quote from: JorgeStolfi on January 11, 2014, 06:25:49 PM

One who buys only 900 USD worth of merchandise with 1 BTC obviously does not believe that 1 BTC will be worth 10,000 USD in 2015... Wink

What is that supposed to mean - We're all supposed to refrain from using bitcoin for years until it's reached its ideal valuation? You're telling bitcoiners not to use bitcoin? What sense does that make? No thanks. And that's not going to help the btc economy. If nobody used it then it wouldn't be worth anything. That's a paradox!

He's not telling you to refrain from using bitcoin, if you really have to. There are drug dealers posting in these forums that need to use cryptocurrencies,
but the Average Joe (well, assuming he doesn't use illegal drugs) doesn't need bitcoin to do online shopping. Someone who buys now some expensive stuff that
he doesn't really need with bitcoins, through a retailer, has the same effect on the market as selling on an exchange and using the fiat for the purchase.
So he can claim that he holds tight, but he just takes advantage of the opportunity offered by the retailer instead of dumping (the retailer will dump).
I encourage the holders to buy stuff (even what they don't need) with bitcoins, this will bring more coins to the exchanges and the price down.

TERA

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Quote from: JorgeStolfi on January 11, 2014, 06:25:49 PM

One who buys only 900 USD worth of merchandise with 1 BTC obviously does not believe that 1 BTC will be worth 10,000 USD in 2015... Wink

What is that supposed to mean - We're all supposed to refrain from using bitcoin for years until it's reached its ideal valuation? You're telling bitcoiners not to use bitcoin? What sense does that make? No thanks. And that's not going to help the btc economy. If nobody used it then it wouldn't be worth anything. That's a paradox!

31337157

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Activity: 111

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Quote from: JorgeStolfi on January 11, 2014, 06:25:49 PM

One who buys only 900 USD worth of merchandise with 1 BTC obviously does not believe that 1 BTC will be worth 10,000 USD in 2015... Wink

Academic interest only? With posts like this, you're going to have to change that sig.

jubalix

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Quote from: Holliday on January 10, 2014, 05:00:00 PM

Quote from: humanitee on January 10, 2014, 04:58:56 PM

Quote from: Holliday on January 10, 2014, 04:54:56 PM

Quote from: BitchicksHusband on January 10, 2014, 04:53:56 PM

I never realized how evil I was...

I didn't either until countless freaks on this forum have made it quite clear that hoarding and speculating are both the Devil's work.

"Hoarding" is the WORST argument of all time. I've been hoarding dollars every year (even though I shouldn't because dollars are economic turds) since the year I was born.

I spend my bitcoin, and when I do I instantly replenish my wallet on the majority of occasions.

But... but... Fucking deflation man! Economic death spirals, and shit.

Aren't you frightened?

no, because as the btc worth goes up, the utility of the HODL amount goes down, eg, hodl 10000 coins 3 years ago, I can spend 100 coins now and It doesn't effect me much, that BTC goes into the market with much more buying power. The other way to look at it if you have only $100 spending $75 is a big deal if you have 1 Million then spending $75 is nothing. The more you deflate the for you can spend

Tirapon

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Activity: 898

Merit: 1000

Quote from: ArticMine on January 11, 2014, 07:16:00 PM

Quote from: danielW on January 11, 2014, 07:08:27 PM

Quote from: JorgeStolfi on January 11, 2014, 06:25:49 PM

One who buys only 900 USD worth of merchandise with 1 BTC obviously does not believe that 1 BTC will be worth 10,000 USD in 2015... Wink

Sorry, something like this is commonly said but it does not make any sense. $ and bitcoins are interchangeable. You can simply buy more bitcoins after spending them, to get your desired investment level.

Using that logic it does not make any sense to buy anything with dollars or any other currency, as you could put that money into bitcoins and it will be worth more later.

But clearly people need to spend in the meantime, and the only difference is that its easier to spend with bitcions, and your supporting the economy Wink

I agree with this but it makes more sense to buy the additional BTC before spending the BTC in order to hedge the short risk. One way to do this is to deposit fiat in an exchange first, and then buy the BTC just before the ecommerce purchase.

Simplest strategy: Buy BTC. Price goes up 10x - spend 10% on stuff you need. Price goes up another 10x - spend 10% on stuff you don't even need Tongue

If Bitcoiners all follow a strategy along these lines, the economy will continue to grow, and we will end up with lots of Bitcoiners with plenty of money just itching to spend it somewhere (which ought to encourage businesses to add it as a payment option). This is kind of the situation we have, because most Bitcoiners have the mental capacity to figure this out.
Unlike the people who argue that somehow Bitcoin will be worth zero due to its deflationary nature Huh

ArticMine

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Activity: 2282

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Monero Core Team

Quote from: danielW on January 11, 2014, 07:08:27 PM

Quote from: JorgeStolfi on January 11, 2014, 06:25:49 PM

One who buys only 900 USD worth of merchandise with 1 BTC obviously does not believe that 1 BTC will be worth 10,000 USD in 2015... Wink

Sorry, something like this is commonly said but it does not make any sense. $ and bitcoins are interchangeable. You can simply buy more bitcoins after spending them, to get your desired investment level.

Using that logic it does not make any sense to buy anything with dollars or any other currency, as you could put that money into bitcoins and it will be worth more later.

But clearly people need to spend in the meantime, and the only difference is that its easier to spend with bitcions, and your supporting the economy Wink

I agree with this but it makes more sense to buy the additional BTC before spending the BTC in order to hedge the short risk. One way to do this is to deposit fiat in an exchange first, and then buy the BTC just before the ecommerce purchase.

danielW

sr. member

Activity: 277

Merit: 250

Quote from: JorgeStolfi on January 11, 2014, 06:25:49 PM

One who buys only 900 USD worth of merchandise with 1 BTC obviously does not believe that 1 BTC will be worth 10,000 USD in 2015... Wink

Sorry, something like this is commonly said but it does not make any sense. $ and bitcoins are interchangeable. You can simply buy more bitcoins after spending them, to get your desired investment level.

Using that logic it does not make any sense to buy anything with dollars or any other currency, as you could put that money into bitcoins and it will be worth more later.

But clearly people need to spend in the meantime, and the only difference is that its easier to spend with bitcions, and your supporting the economy Wink

segeln

hero member

Activity: 602

Merit: 500

Quote from: T.Stuart on January 11, 2014, 06:32:33 PM

If Overstock adopts Bitcoin and has zero sales what do you think will happen then? People spending now are doing every other Bitcoiner a huge service!

so , thanks to all overstock-bitcoin -customers

T.Stuart

hero member

Activity: 644

Merit: 500

One Token to Move Anything Anywhere

Quote from: JorgeStolfi on January 11, 2014, 06:25:49 PM

One who buys only 900 USD worth of merchandise with 1 BTC obviously does not believe that 1 BTC will be worth 10,000 USD in 2015... Wink

Got to get the economy going. It's part of the whole thing. If Overstock adopts Bitcoin and has zero sales what do you think will happen then? People spending now are doing every other Bitcoiner a huge service!

JorgeStolfi

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One who buys only 900 USD worth of merchandise with 1 BTC obviously does not believe that 1 BTC will be worth 10,000 USD in 2015... Wink

HeliKopterBen

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Activity: 622

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Quote from: ?? on ??

buy all the stuff!!!

Still hard to believe that is only 11 btc.

ElectricMucus

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Marketing manager - GO MP

lol as you can see it's all chumps buying useless crap to prop up the myth that "bitcoin is a currency". Come back and see if they dare to publish sales statistics in a year.

Anybody remember wordpress, humble bundle or reddit? Yeah their figures haven't been stellar overall.

Tirapon

hero member

Activity: 898

Merit: 1000

Quote from: ?? on ??

buy all the stuff!!!

LOL

Hey goat, are you single handedly responsible for $124 000 of orders?

Hmmm what else shall I buy...? Ah yes, I've always needed one of these:

http://www.overstock.com/Main-Street-Revolution/Old-Modern-Handicrafts-HMS-Endeavour-Model-Ship/7826992/product.html?refccid=LTK55THNBJI25T2PVHESWOXAQQ&searchidx=1

Holliday

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Quote from: the_sunship on January 11, 2014, 03:31:20 PM

Quote from: Tirapon on January 11, 2014, 03:26:27 PM

Went to buy something but they don't accept BTC internationally? That's strange, BTC is completely borderless, surely its the easiest way to accept international orders?

Oh well I'll wait until I can spend my BTC there, and then every time I want to buy something I will see if I can get it from overstock.com before looking elsewhere.

yeah, I don't get that either. They could have done 200K in one day easy.

Maybe it has something to do with international finance/trade laws? Can anyone knowledgeable opine on this?

OS has already said they are working on it.

the_sunship

full member

Activity: 230

Merit: 100

Quote from: Tirapon on January 11, 2014, 03:26:27 PM

Went to buy something but they don't accept BTC internationally? That's strange, BTC is completely borderless, surely its the easiest way to accept international orders?

Oh well I'll wait until I can spend my BTC there, and then every time I want to buy something I will see if I can get it from overstock.com before looking elsewhere.

yeah, I don't get that either. They could have done 200K in one day easy.

Maybe it has something to do with international finance/trade laws? Can anyone knowledgeable opine on this?

Tirapon

hero member

Activity: 898

Merit: 1000

Went to buy something but they don't accept BTC internationally? That's strange, BTC is completely borderless, surely its the easiest way to accept international orders?

Oh well, I'll wait until I can spend my BTC there, and then every time I want to buy something I will see if I can get it from overstock.com before looking elsewhere.

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

update: OS refunded my funds after the glitch...in bitcoins! even though the price went up. will be buying from them in the future.

Topic: 124000 USD from bitcoins order from Overstock.com (Read 4540 times)