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(The Next Web) Newegg teases about accepting Bitcoin soon

post #1 of 57
Thread Starter 
Newegg teaser suggests the US online retail giant may begin accepting Bitcoin soon

By Jon Russell, Friday, 10 Jan '14 , 08:46am
Quote:
Bitcoin got a huge boost this week when online electronics retailer Overstock.com began accepting payments via the cryptocurrency, hot on the heels of Zygna starting a Bitcoin pilot. Those two significant brands could be joined by an even bigger name in the US consumer space, Newegg.

...

http://thenextweb.com/insider/2014/01/10/newegg-teaser-suggests-the-us-online-retail-giant-may-begin-accepting-bitcoin-soon/#!rUCda

My Bitcoin wallet is going to be empty pretty soon. frown.gif
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post #2 of 57
Dang it! I don't have any Bitcoins
post #3 of 57
This makes me smile.
    
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post #4 of 57
A vicious cycle is about to begin. thinking.gif
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post #5 of 57

This would make me so happy (and my bitcoin wallet so unhappy :p)

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post #6 of 57
Isn't this risky ?

I sell a $500 USD worth GPU to my client. Client pays me (what ? 0.6ish bitcoin ??).

If tomorrow the market crash as it already did, didn't I just got paid less than what i would have sold in real cash ?

It's like taking actions as payments, you never know if it will go up or down, isn't risky to accept such currency ?
post #7 of 57
What is the difficulty level involved in Bitcoining and actually making profit of it ?
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post #8 of 57
Thread Starter 
Quote:
Originally Posted by Abs.exe View Post

Isn't this risky ?

I sell a $500 USD worth GPU to my client. Client pays me (what ? 0.6ish bitcoin ??).

If tomorrow the market crash as it already did, didn't I just got paid less than what i would have sold in real cash ?

It's like taking actions as payments, you never know if it will go up or down, isn't risky to accept such currency ?
Read about how Overstock.com and Coinbase are operating.

http://www.wired.com/business/2014/01/overstock-bitcoin-live/
Quote:
Before each payment is made, Coinbase sets an exchange rate, immediately converts the buyer’s bitcoin into dollars, and transfers the dollars to Overstock. The retailer never holds any bitcoin.
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post #9 of 57
smile.gif
Quote:
Originally Posted by Abs.exe View Post

Isn't this risky ?

I sell a $500 USD worth GPU to my client. Client pays me (what ? 0.6ish bitcoin ??).

If tomorrow the market crash as it already did, didn't I just got paid less than what i would have sold in real cash ?

It's like taking actions as payments, you never know if it will go up or down, isn't risky to accept such currency ?

These places cash out the bitcoins the second they get them for USD, so they don't have to bear the vagaries of the market.
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post #10 of 57
Quote:
Originally Posted by nyk20z3 View Post

What is the difficulty level involved in Bitcoining and actually making profit of it ?

Bitcoin specifically, pretty high difficulty. Altcoins (Litecoin/Feathercoin/Novacoin ect.) make much better returns.
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