Wired.com: Overstock.com now accepting bitcoin - page 2.

BTCtrader71

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Quote from: Richard Branson on January 09, 2014, 05:49:17 PM

Quote from: mb300sd on January 09, 2014, 04:34:37 PM

Well, if both users use coinbase..

Bank -> Coinbase (user) -> Coinbase (merchant) -> Bank

if user already holds bitcoin

Bitcoin -> Coinbase -> Bank

And now explain the average joe why he should pay for clothes with bitcoin?
He could just go the "normal" way with a simple bank transfer. No risks involved.
With Coinbase he has to trust another entity. It's just more risks without ANY advantages for this specific task.

The user doesn't have to deal with coinbase at all. The user can just send bitcoin to the bitcoin address provided through the Overstock website and that's that. Proof of payment lives forever in the blockchain.

HeliKopterBen

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Quote from: Richard Branson on January 09, 2014, 05:49:17 PM

Quote from: mb300sd on January 09, 2014, 04:34:37 PM

Well, if both users use coinbase..

Bank -> Coinbase (user) -> Coinbase (merchant) -> Bank

if user already holds bitcoin

Bitcoin -> Coinbase -> Bank

And now explain the average joe why he should pay for clothes with bitcoin?
He could just go the "normal" way with a simple bank transfer. No risks involved.
With Coinbase he has to trust another entity. It's just more risks without ANY advantages for this specific task.

No risks involved huh? Here is the most advanced form of risk reduction.

Cold storage -> hot wallet -> coinbase -> bank

BTCtrader71

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Quote from: geri on January 09, 2014, 02:54:50 PM

Not sure why they only accept Bitcoin for orders shipped to USA. Isn't Bitcoin exactly the thing they need for smooth international orders with no chargebacks?
Any reason not to accept Bitcoin internationally?

Overstock is using Coinbase which I believe only takes US customers. (anti money laundering, know your customer etc etc)

mnightwaffle

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Quote from: ?? on ??

http://postimg.org/image/73v4rerip/

i did my part

holy shit they sell books !

https://i.imgur.com/TNiJkCo.jpg

now gonna buy that 5' beanbag I've been wanting for a minute

virtualfaqs

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Quote from: BTCtrader71 on January 09, 2014, 10:58:26 PM

Quote from: Richard Branson on January 09, 2014, 06:10:36 PM

Bitcoin doesn't offer any advantage over the existing solutions (bank transfer, visa, paypal) in case of buying clothes, ...

It offers lots, but here's a big one:

Online purchases using credit cards and other existing solutions expose you to the risk of having sensitive information stolen (credit card numbers, paypal passwords, etc).

Bitcoin allows you to make a purchase without exposing yourself to this risk.

BOOM!

Oh you mean if only Target accepted BTC? Well, paying my credit card also gets me a interest free loan for a few weeks.

BTCtrader71

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Quote from: Richard Branson on January 09, 2014, 06:10:36 PM

Bitcoin doesn't offer any advantage over the existing solutions (bank transfer, visa, paypal) in case of buying clothes, ...

It offers lots, but here's a big one:

Online purchases using credit cards and other existing solutions expose you to the risk of having sensitive information stolen (credit card numbers, paypal passwords, etc).

Bitcoin allows you to make a purchase without exposing yourself to this risk.

BOOM!

virtualfaqs

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Quote from: xephyr on January 09, 2014, 08:31:51 PM

Quote from: virtualfaqs on January 09, 2014, 08:06:40 PM

Is this on their homepage anywhere? Because I sure as hell couldn't find it.

Not on the homepage but at http://www.overstock.com/bitcoin

That's my point. You'd think an announcement like that would be shared with every single person visiting their site. Yet it's not.

xephyr

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Quote from: virtualfaqs on January 09, 2014, 08:06:40 PM

Is this on their homepage anywhere? Because I sure as hell couldn't find it.

Not on the homepage but at http://www.overstock.com/bitcoin

virtualfaqs

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Is this on their homepage anywhere? Because I sure as hell couldn't find it.

BitchicksHusband

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Quote from: Richard Branson on January 09, 2014, 06:10:36 PM

Yeah, why use Paypal? That question is legit.
Visa is something different -> it's faster than bank transfer and you can buy with "credit" -> pay later

Bitcoin doesn't offer any advantage over the existing solutions (bank transfer, visa, paypal) in case of buying clothes, ...

I don't see any stores in the US where you can pay with a bank transfer (they probably don't want to wait a week for it to clear).

PayPal steals everyone's money and nobody should use them ever.

Visa sometimes declines you for no apparent reason. I went to the Home Depot 1 mile from my house where I shop at least twice a month for over 15 years and they blocked my card saying it was a "risk". Their answer (when I cancelled the card), "Well there's been a lot of fraud at Home Depot lately." OK, but don't you think you should allow it at the one 1 mile from my house that I shop at every other week?!?

Richard Branson

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Screw It, Let's Do It

Yeah, why use Paypal? That question is legit.
Visa is something different -> it's faster than bank transfer and you can buy with "credit" -> pay later

Bitcoin doesn't offer any advantage over the existing solutions (bank transfer, visa, paypal) in case of buying clothes, ...

mb300sd

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Drunk Posts

Quote from: Richard Branson on January 09, 2014, 05:49:17 PM

Quote from: mb300sd on January 09, 2014, 04:34:37 PM

Well, if both users use coinbase..

Bank -> Coinbase (user) -> Coinbase (merchant) -> Bank

if user already holds bitcoin

Bitcoin -> Coinbase -> Bank

And now explain the average joe why he should pay for clothes with bitcoin?
He could just go the "normal" way with a simple bank transfer. No risks involved.
With Coinbase he has to trust another entity. It's just more risks without ANY advantages for this specific task.

And now explain the average joe why he should pay for clothes with paypal?
He could just go the "normal" way with a simple bank transfer. No risks involved.
With paypal he has to trust another entity. It's just more risks without ANY advantages for this specific task.

And now explain the average joe why he should pay for clothes with visa?
He could just go the "normal" way with a simple bank transfer. No risks involved.
With visa he has to trust another entity. It's just more risks without ANY advantages for this specific task.

etc

Richard Branson

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Screw It, Let's Do It

Quote from: mb300sd on January 09, 2014, 04:34:37 PM

Well, if both users use coinbase..

Bank -> Coinbase (user) -> Coinbase (merchant) -> Bank

if user already holds bitcoin

Bitcoin -> Coinbase -> Bank

And now explain the average joe why he should pay for clothes with bitcoin?
He could just go the "normal" way with a simple bank transfer. No risks involved.
With Coinbase he has to trust another entity. It's just more risks without ANY advantages for this specific task.

T.Stuart

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One Token to Move Anything Anywhere

Quote from: proudhon on January 09, 2014, 05:06:26 PM

Quote from: xephyr on January 09, 2014, 02:35:59 PM

Wired.com is reporting that Overstock.com is now accepting bitcoin: http://www.wired.com/business/2014/01/overstock-bitcoin-live/

Too bad this is basically bitcoin's last year, given all the confirmed bad news we have from sources, especially confirmed non-English sources, especially from China, but also other places. The HODLERS will hopefully give us all time to get out above $10.

You'll have time, Proudhon... Lots and lots and lots of time! Ha ha ha!! Cheesy

proudhon

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Quote from: xephyr on January 09, 2014, 02:35:59 PM

Wired.com is reporting that Overstock.com is now accepting bitcoin: http://www.wired.com/business/2014/01/overstock-bitcoin-live/

Too bad this is basically bitcoin's last year, given all the confirmed bad news we have from sources, especially confirmed non-English sources, especially from China, but also other places. The HODLERS will hopefully give us all time to get out above $10.

mb300sd

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Drunk Posts

Quote from: Richard Branson on January 09, 2014, 04:06:04 PM

I believe in bitcoin and space travel Grin

BUT! I don't believe that we need these bitcoin fiat processors. They will replace the banks, but they do exactly the same.

With Bitpay we have even more middleman than in the fiat system.

Bank -> Exchange -> Bitcoin -> Bitpay -> Exchange -> Bank (Bitpay) -> Bank (Merchant)

Well, if both users use coinbase..

Bank -> Coinbase (user) -> Coinbase (merchant) -> Bank

if user already holds bitcoin

Bitcoin -> Coinbase -> Bank

geri

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Quote from: Richard Branson on January 09, 2014, 04:06:04 PM

I believe in bitcoin and space travel Grin

BUT! I don't believe that we need these bitcoin fiat processors. They will replace the banks, but they do exactly the same.

With Bitpay we have even more middleman than in the fiat system.

Bank -> Exchange -> Bitcoin -> Bitpay -> Exchange -> Bank (Bitpay) -> Bank (Merchant)

It's true this chain is terribly long. I think it will get shorter over time, eventually resulting in just "sender -> recipient", if we're lucky. But this will not happen tomorrow.

Hopefully more companies will also accept Bitcoin directly the way Virgin did.

HairyMaclairy

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Degenerate bull hatter & Bitcoin monotheist

We need a "troll" tag.

Richard Branson

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Screw It, Let's Do It

I believe in bitcoin and space travel Grin

BUT! I don't believe that we need these bitcoin fiat processors. They will replace the banks, but they do exactly the same.

With Bitpay we have even more middleman than in the fiat system.

Bank -> Exchange -> Bitcoin -> Bitpay -> Exchange -> Bank (Bitpay) -> Bank (Merchant)

AlexNeto

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Z-pay.io

If Overstock will report sales increase after adding bitcoin, other retailers will be more motivated to follow the trend.

Topic: Wired.com: Overstock.com now accepting bitcoin - page 2. (Read 5491 times)