Topic: Overstock.com's News on Accepting Bitcoin, Underwhelming Price Boost. - page 3. (Read 5315 times)

Is your account address based in continental USA? Must be in order to pay with BTC from what's been reported.

Yes, quite some $ have been processed in bitcoins already.

Didnt found a way to pay with Bitcoin at the checkout.. was'nt anywhere in the billing option ??
Is this already effective or what ?

EDIT : The option do not appears in the mobile version of the web site.. switching to classic site I can see the Bitcoin paiement option

Overstock accepting Bitcoin is huge.

I think the number of large retailers accepting Bitcoin will grow exponentially in 2014 and beyond!

This. As long as they're steadily liquidating the BTC, there isn't much in the ways of needing to worry about the dip in price. It's only at times where if they decide to dump all their BTC at the same time (which would be stupid on their part.. they'd be losing money) that BTC would be affected in a not-so-good way.

1) Velocity of money will naturally increase the price of Bitcoin.  As long as the retailer coin liquidation isn't synchronized for some weird reason, it will get lost in the noise of the market.  The more people use a currency, the higher its value due to nothing more than the delay between inflow and outflow.

2) Overstock saved the market from a more serious correction yesterday.  Ghash cancelled Overstock, regardless of whether you think it was all FUD or not.

the fear of prices going down because someone like overstock ends up having bitcoins dumped doesn't seem all that problematic. based on the sales overstock did int he first day, if all coins were dumped at once it would only have changed the price of btc by about $10.  I also agree with others that more adoption and transactions going on should help decrease volatailty hopefully.

yeah, I was not impressed with what I saw their. It was also my first time there in a very long time...and I still didn't buy anything.

Plenty of junk websites and businesses are using bitcoin as a marketing gimmick, overstock is so far the largest online.
 
If you wouldnt buy it with fiat, don't be duped into buying it with bitcoin, just because you can.
 
I don't think I've ever seen an established business offer competitive prices for their wares in bitcoin, there always seem to be a few % premium tagged on top to tale advantage of those being caught up in the hype.
 
Yesterday was the first time I've been on overstock in months and nothings changed, everything is cheaper elsewhere.

Only US shipping address for BTC payment ATM. Overstock has said intl. orders are coming soon.

Cheeky bastard, I thought you were serious for a sec there until I looked at your other posts hahahaa. Guess it is all confirmed bad news via sources and all though so...

Well it ain't all that bad. For normal US customers it comes up automatically. The website design is a pretty clean and simple visual marketplace that lets people browse through their endless products.

For people outside the US it is hard to find though, and the checkout is a bit clunky.

No.  We have already confirmed via sources that bitcoin is pretty much done.  Not everyone knows this yet, but as more people become aware of the facts, the price will fall to $0.  Proof ------> 充分證實和真實

Found it! That's some pretty poor web design though for such a big company.

Instead of buying stuff with cash, buy Bitcoins and use them straight away. You can still hoard whilst promoting BTC.


I agree. I hope this will happen in the future.

Because it ISN'T slow.  Like many have said to people pumping alt-coins, "There are hardly any problems an alt-coin could solve that the bitcoin community can't solve as well."  It isn't about the base protocol, it is about the applications built on top of the protocol.  Overstock works through Coinbase.  The exact instant I initiated my bitcoin payment through Coinbase to Overstock, the payment was successful. 


My point was that this doesn't matter.  If Amazon announces they will be accepting bitcoin payments and the price goes up $1,000 overnight, but then only goes up $1 the day they actually start accepting payments, you can't turn around and say "Amazon's news on accepting bitcoins was underwhelming". 


I disagree.  Individual self-interest is the same as group self-interest in this case.  If people don't spend their bitcoins, major retailers will announce they are no longer accepting them.  This would have a devastating effect on the value of bitcoin, period.  Therefore, bitcoins must be spent.  If everyone holds onto theirs expecting someone else to do the spending, it's over.  If you are worried about losing future value, simply immediately replace the bitcoins you spend, problem solved.  In the meantime, for your self interest AND the group's self interest, spend bitcoin.

Super brand new to the forum community, but not new to bitcoin. Too bad I didn't know about here until just recently. But along with Overstock taking bitcoin, up here in Denver(yes up, mile high city remember?) there are all kind of startups now taking bitcoin. Definitely a good thing in terms of long term investment in bitcoin.

It's crazy, back in April when I got into bitcoin I was thinking of all the things I could be buying with bitcoins if I actually had them due to the price spike. Now I have a handful which are like worth a fuck ton more than what they were back then, now, I'm like " hmm".

I guess I just got sucked into the community , that or I just got wiser? nah fuck that lol. I just want my planetary system!

@OverstockCEO just tweeted that in the first 21hrs of bitcoin acceptance, they did the equivalent of $124,000 in sales across 780 orders. By my calcs, that's about 4% of their total daily business. And double the margin (their avg margin is 2%, and with bitcoin, they save 2% on the lack of credit card fees). Not bad at all.

Thats because miners are making free money, so its like free goods to them