Who plans to shop on Overstock.com as soon as BTC payments work?

empoweoqwj

hero member

Activity: 518

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Quote from: Welsh on December 30, 2013, 04:49:18 PM

Quote from: Jcw188 on December 30, 2013, 04:46:24 PM

I think we really should all do our best to shop at Overstock with BTC as soon as they accept it so they see it was a good idea and then other retailers will follow suit.

edit: has Overstock said what they will do with the BTC? Will they sell it on an exchange?

I don't think they have announced what they will be doing with the Bitcoin. I'm assuming they will be exchanging it or if they want to try and be smart they will try and sell at a higher price.

They already said they will be using derivatives to hedge against changes in bitcoin prices.

DoomDumas

legendary

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Bitcoin

I will buy some stuff for sure

Caiapfas

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Merit: 10

IMO overstock.com should be called overpriced.com

vadoff

member

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Merit: 10

Definitely at least once, I don't shop at Overstock normally.

MrPalmer

member

Activity: 98

Merit: 10

Yes, this is a very important step for BTC! Let's all chip in a little bit and send a message that online retailers can really benefit for accepting BTC. I'll certainly be shopping a bit.

Pretty sure Overstock said they'd be cashing out BTC every night, to minimize risk.

beetcoin

sr. member

Activity: 434

Merit: 250

it's inevitable, but the more merchants that begin to accept bitcoin.. the more the government will monitor it. once it gets so big, big brother might change his mind and decide to regulate BTC a lot more than it currently is. it's inevitable though, so i'm not against it. it will have to happen if bitcoin wants to expand.

battlescars

member

Activity: 98

Merit: 10

this is good, its nice to see more sites like overstock start to accept btc, it will only expand bitcoin and the price will rise,

hopefully more stores start accept bitcoin so i can have more options on to spend my bits! Great move

beetcoin

sr. member

Activity: 434

Merit: 250

don't know if i will shop with them, but i'll make an effort to.

_wayfarer_

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Merit: 10

Software Engineer

Quote from: Welsh on December 30, 2013, 04:49:18 PM

Quote from: Jcw188 on December 30, 2013, 04:46:24 PM

I think we really should all do our best to shop at Overstock with BTC as soon as they accept it so they see it was a good idea and then other retailers will follow suit.

edit: has Overstock said what they will do with the BTC? Will they sell it on an exchange?

I don't think they have announced what they will be doing with the Bitcoin. I'm assuming they will be exchanging it or if they want to try and be smart they will try and sell at a higher price.

They'll probably do the smart thing, exchange part of it to keep some fiat cash flow, and hold a portion of it for future value, or for spending. If they're able to spend the BTC in kind that will make the overall economy much healthier.

Welsh

staff

Activity: 3304

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Quote from: Jcw188 on December 30, 2013, 04:46:24 PM

I think we really should all do our best to shop at Overstock with BTC as soon as they accept it so they see it was a good idea and then other retailers will follow suit.

edit: has Overstock said what they will do with the BTC? Will they sell it on an exchange?

I don't think they have announced what they will be doing with the Bitcoin. I'm assuming they will be exchanging it or if they want to try and be smart they will try and sell at a higher price.

Jcw188

hero member

Activity: 546

Merit: 500

Carpe Diem

I think we really should all do our best to shop at Overstock with BTC as soon as they accept it so they see it was a good idea and then other retailers will follow suit.

edit: has Overstock said what they will do with the BTC? Will they sell it on an exchange?

Johnny Bitcoinseed

full member

Activity: 154

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Johnny Bitcoinseed

Quote from: ?? on ??

I'll buy from them if their prices are competitive with fiat retailers. BitcoinStore already has competitive prices for electronics, and I'll probably buy my next new laptop from them.

Bitcoin has an intrinsic advantage over credit cards in that it avoids those credit card fees of 1-2%. Another reason why the banks hate it Grin

I think the credit card fees for businesses selling stuff is more like 2 to 3%, plus additional hefty chargeback fees when the merchant is scammed by customers, which happens more often than you may think.

This customer fraud is, of course, passed on to the honest customers via higher prices necessary to cover the fraud and stay in business.

So bitcoin can eventually cause prices to drop while keeping profits at the same level. A win-win for everyone and a great boon to the economy, jobs, etc. Maybe not so much of a boon to dishonest customers who have learned to game the current system and certainly not a boon to the predatory credit card industry.

Once a few of the big retailers are accepting bitcoin for payment, many others may of necessity follow their lead.

Tirapon

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I will go out of my way to buy something when they accept Bitcoin as payment, even if I wouldn't have bought it otherwise.

Welsh

staff

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Seems Overstock is going to be scraping in a lot of profit just for accepting Bitcoin. Now, why don't other companies see this and jump on it? Overstock accepting Bitcoin is going to be one of their key moments to a successful company.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

I can't wait! :-) Grin

I'll buy more bitcoins, just to spend them on overstock and support them.

Welsh

staff

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Merit: 4115

I've never used them before, but they seem to have quite a large stock where a lot of stuff I would normally get from Amazon. But, if it allows Bitcoin purchases which are not insanely priced this could be a great alternative.

emeraldforce

full member

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Merit: 100

im looking for a quality used workstation since I cannibalized all of my other machines mining over the past year. I would love to find a good one at overstock once they start accepting btc.

empoweoqwj

hero member

Activity: 518

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Quote from: ?? on ??

Still hoarding.

lol. That's the spirit Wink

(though I do understand)

black_swan

newbie

Activity: 42

Merit: 0

I will probably spend a few mBTC to support them and to demonstrate that there is a new market to cover
Can't wait for more merchants to follow overclock

Kazimir

legendary

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Merit: 1011

Most definitely. As soon as they accept BTC, I'll spend some big bucks there!

Topic: Who plans to shop on Overstock.com as soon as BTC payments work? (Read 4157 times)