Overstock.com now accepting bitcoins as payment!

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

Quote from: billyjoeallen on January 09, 2014, 09:00:42 PM

Quote from: KGambler on January 09, 2014, 08:52:30 PM

Do you need a Coinbase account to purchase items?

What is the effective conversion in USD you get from each btc?

i don't think so and having my coinbase account window open and logged in was probably a mistake. they had a pop-up window asking me to deduct from my coinbase account with no prompt to do so. then I got the error message that my order wasn't booked. of course the coin was removed from my coinbase account anyway. kinda frustrated.

update: my order was canceled and my BTC was refunded. I made a new order ad it went through no problems. I effectively got a huge discount due to the BTC price spike. Gonna be using OS a lot more in the future.

BitcoinBobbeh

sr. member

Activity: 266

Merit: 250

Quote from: billyjoeallen on January 10, 2014, 12:21:22 PM

Quote from: BitcoinBobbeh on January 09, 2014, 07:15:33 PM

Quote from: wickedgoodtrader on January 09, 2014, 06:46:58 PM

Just bought the wife some slutty lingerie. It was nice being able to pay with coinbase and save the miners fee. How are the miners going to feel about that?

Coinbase actually pays it for you... so... miners feel okay I imagine.

the transaction is off the blockchain. there is no miner fee because coinbase keeps all the coin and just makes an internal accounting entry to tell themselves who owns them now.

No.

You can send coins anywhere. To a personal friend, to an exchange account, etc.

Coinbase pays the transaction fee.

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

Quote from: BitcoinBobbeh on January 09, 2014, 07:15:33 PM

Quote from: wickedgoodtrader on January 09, 2014, 06:46:58 PM

Just bought the wife some slutty lingerie. It was nice being able to pay with coinbase and save the miners fee. How are the miners going to feel about that?

Coinbase actually pays it for you... so... miners feel okay I imagine.

the transaction is off the blockchain. there is no miner fee because coinbase keeps all the coin and just makes an internal accounting entry to tell themselves who owns them now.

guybrushthreepwood

legendary

Activity: 1232

Merit: 1195

Is Overstock based exlusively in the USA or are they worldwide. Never heard of them until this Bitcoin publicity.

Kungfucheez

member

Activity: 98

Merit: 10

Eh, screw the world, the US is good enough for now Grin

just kidding, I'm sure they'll have international shipping setup soon enough

Anyways, pretty sure you can just transfer btc from any address, like the bitcoin client and use that

BittBurger

hero member

Activity: 924

Merit: 1001

Quote from: BTC-TK on January 09, 2014, 10:16:14 PM

Don't false advertise, they still don't accept it for international orders (e.g. the whole world).

That blows. I just told a friend in Costa Rica today, and a friend stationed in Pakistan to buy .

So can they buy and ship to me in the USA?

EDIT: That was a dumb question. of course they can.

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

Quote from: jubalix on January 09, 2014, 10:14:07 PM

Quote from: billyjoeallen on January 09, 2014, 10:04:20 PM

this kinda makes me upset. if you DO have a coinbase account, they prompt you to pay with a pop-up button and no "send to" address or QR code. Apparently this keeps the transaction off the blockchain so coinbase just transfers funds from the customer account to overstock account. I didn't want to even pay this way. i just wanted to make a normal bitcoin transaction. I was not given that option.

no problem here, it just means coinbase and overstock are willing to wear the internal risk between each other and coin base wears btc risk. This is actually go for btc holders and a show of faith in btc by overstock.

there is no internal risk. if the transaction is off the blockchain, it's reversible. I'm the one who takes the risk. I guess the only advantage is I don't have to pay the miner fee.

Serge

legendary

Activity: 1050

Merit: 1000

Quote from: jubalix on January 09, 2014, 10:14:07 PM

Quote from: billyjoeallen on January 09, 2014, 10:04:20 PM

this kinda makes me upset. if you DO have a coinbase account, they prompt you to pay with a pop-up button and no "send to" address or QR code. Apparently this keeps the transaction off the blockchain so coinbase just transfers funds from the customer account to overstock account. I didn't want to even pay this way. i just wanted to make a normal bitcoin transaction. I was not given that option.

no problem here, it just means coinbase and overstock are willing to wear the internal risk between each other and coin base wears btc risk. This is actually go for btc holders and a show of faith in btc by overstock.

but if your coinbase account is lower than amount required to be paid, you are screwed unless you know about cookies and how to delete them.

BTC-TK

member

Activity: 154

Merit: 14

Don't false advertise, they still don't accept it for international orders (e.g. the whole world).

jubalix

legendary

Activity: 2632

Merit: 1023

Quote from: billyjoeallen on January 09, 2014, 10:04:20 PM

this kinda makes me upset. if you DO have a coinbase account, they prompt you to pay with a pop-up button and no "send to" address or QR code. Apparently this keeps the transaction off the blockchain so coinbase just transfers funds from the customer account to overstock account. I didn't want to even pay this way. i just wanted to make a normal bitcoin transaction. I was not given that option.

no problem here, it just means coinbase and overstock are willing to wear the internal risk between each other and coin base wears btc risk. This is actually go for btc holders and a show of faith in btc by overstock.

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

this kinda makes me upset. if you DO have a coinbase account, they prompt you to pay with a pop-up button and no "send to" address or QR code. Apparently this keeps the transaction off the blockchain so coinbase just transfers funds from the customer account to overstock account. I didn't want to even pay this way. i just wanted to make a normal bitcoin transaction. I was not given that option.

stayeduptolate

hero member

Activity: 980

Merit: 502

Quote from: Kluge on January 09, 2014, 09:35:13 PM

Quote from: worldtreasurefinders on January 09, 2014, 09:33:25 PM

Quote from: KGambler on January 09, 2014, 08:52:30 PM

Do you need a Coinbase account to purchase items?

What is the effective conversion in USD you get from each btc?

You don't need a coinbase account. I used my bitcoin client on my computer to send the BTC for my order.

Same here. Don't even need an Overstock account.

yup^^^

Kluge

donator

Activity: 1218

Merit: 1015

Quote from: worldtreasurefinders on January 09, 2014, 09:33:25 PM

Quote from: KGambler on January 09, 2014, 08:52:30 PM

Do you need a Coinbase account to purchase items?

What is the effective conversion in USD you get from each btc?

You don't need a coinbase account. I used my bitcoin client on my computer to send the BTC for my order.

Same here. Don't even need an Overstock account.

worldtreasurefinders

sr. member

Activity: 315

Merit: 250

Quote from: KGambler on January 09, 2014, 08:52:30 PM

Do you need a Coinbase account to purchase items?

What is the effective conversion in USD you get from each btc?

You don't need a coinbase account. I used my bitcoin client on my computer to send the BTC for my order.

worldtreasurefinders

sr. member

Activity: 315

Merit: 250

Quote from: wickedgoodtrader on January 09, 2014, 07:52:37 PM

Why do you guys take the time to block out the send to address?

Um... I don't know. Habit?

Peter R

legendary

Activity: 1162

Merit: 1007

Quote from: billyjoeallen on January 09, 2014, 09:14:54 PM

Quote from: Peter R on January 09, 2014, 09:09:58 PM

Quote from: billyjoeallen on January 09, 2014, 09:00:42 PM

Quote from: KGambler on January 09, 2014, 08:52:30 PM

Do you need a Coinbase account to purchase items?

What is the effective conversion in USD you get from each btc?

i don't think so and having my coinbase account window open and logged in was probably a mistake. they had a pop-up window asking me to deduct from my coinbase account with no prompt to do so. then I got the error message that my order wasn't booked. of course the coin was removed from my coinbase account anyway. kinda frustrated.

I used the Blockchain.info app for iPhone to purchase a TV. It worked with their Coinbase payment system perfectly and instantly.

A made the purchase a few hours ago at a rate of $833 / BTC (tied to BitStamp price I believe).

no. it's tied to the coinbase price. coinbase is an exchange.

Coinbase is not an exchange in the same sense as BitStamp or Gox. It is *exactly* the Coinbase price because you are using Coinbase as the payment processor. The Coinbase price is most correlated with BitStamp--I should have used the word "correlated" instead of "tied."

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

Quote from: Peter R on January 09, 2014, 09:09:58 PM

Quote from: billyjoeallen on January 09, 2014, 09:00:42 PM

Quote from: KGambler on January 09, 2014, 08:52:30 PM

Do you need a Coinbase account to purchase items?

What is the effective conversion in USD you get from each btc?

i don't think so and having my coinbase account window open and logged in was probably a mistake. they had a pop-up window asking me to deduct from my coinbase account with no prompt to do so. then I got the error message that my order wasn't booked. of course the coin was removed from my coinbase account anyway. kinda frustrated.

I used the Blockchain.info app for iPhone to purchase a TV. It worked with their Coinbase payment system perfectly and instantly.

A made the purchase a few hours ago at a rate of $833 / BTC (tied to BitStamp price I believe).

no. it's tied to the coinbase price. coinbase is an exchange.

Peter R

legendary

Activity: 1162

Merit: 1007

Quote from: billyjoeallen on January 09, 2014, 09:00:42 PM

Quote from: KGambler on January 09, 2014, 08:52:30 PM

Do you need a Coinbase account to purchase items?

What is the effective conversion in USD you get from each btc?

i don't think so and having my coinbase account window open and logged in was probably a mistake. they had a pop-up window asking me to deduct from my coinbase account with no prompt to do so. then I got the error message that my order wasn't booked. of course the coin was removed from my coinbase account anyway. kinda frustrated.

I used the Blockchain.info app for iPhone to purchase a TV. It worked with their Coinbase payment system perfectly and instantly.

A made the purchase a few hours ago at a rate of $833 / BTC (tied to BitStamp price I believe).

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

Quote from: KGambler on January 09, 2014, 08:52:30 PM

Do you need a Coinbase account to purchase items?

What is the effective conversion in USD you get from each btc?

i don't think so and having my coinbase account window open and logged in was probably a mistake. they had a pop-up window asking me to deduct from my coinbase account with no prompt to do so. then I got the error message that my order wasn't booked. of course the coin was removed from my coinbase account anyway. kinda frustrated.

KGambler

full member

Activity: 236

Merit: 100

Do you need a Coinbase account to purchase items?

What is the effective conversion in USD you get from each btc?

Topic: Overstock.com now accepting bitcoins as payment! (Read 6423 times)