Overclock.net › Forums › Industry News › Rumors and Unconfirmed Articles › (The Next Web) Newegg teases about accepting Bitcoin soon
New Posts  All Forums:Forum Nav:

(The Next Web) Newegg teases about accepting Bitcoin soon - Page 5

post #41 of 57
Quote:
Originally Posted by BigMack70 View Post

Bitcoin has value because it is useful, simple as that.

Why is it useful?
mitx
(16 items)
 
  
CPUMotherboardGraphicsRAM
Intel i5 3570K 4.5ghz ASRock Z77E-ITX Sapphire R9 290x Tri-X 1200/1500 Crucial Ballistix Tactical LP 2x8 GB 8-8-8-24-1T 
Hard DriveHard DriveHard DriveHard Drive
Samsung 840 Pro 256gb Western Digital Velociraptor Western Digital WD15EARX Western Digital WD15EADS 
CoolingOSMonitorKeyboard
Silverstone NT06-Pro Windows 10 x64 LG 29UM67 Logitech G710+ 
PowerCaseMouseAudio
Silverstone SG08 600W PSU Silverstone SG08B Logitech G700 Pioneer SE-A1000 
  hide details  
Reply
mitx
(16 items)
 
  
CPUMotherboardGraphicsRAM
Intel i5 3570K 4.5ghz ASRock Z77E-ITX Sapphire R9 290x Tri-X 1200/1500 Crucial Ballistix Tactical LP 2x8 GB 8-8-8-24-1T 
Hard DriveHard DriveHard DriveHard Drive
Samsung 840 Pro 256gb Western Digital Velociraptor Western Digital WD15EARX Western Digital WD15EADS 
CoolingOSMonitorKeyboard
Silverstone NT06-Pro Windows 10 x64 LG 29UM67 Logitech G710+ 
PowerCaseMouseAudio
Silverstone SG08 600W PSU Silverstone SG08B Logitech G700 Pioneer SE-A1000 
  hide details  
Reply
post #42 of 57
Quote:
Originally Posted by OwnedINC View Post

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.

Bitcon, Altcoins, etc flux their value so frequently that it is nearly pointless to accept them in the retail market. But Newegg is pretty crappy to begin with. Poor selection, charge higher than the majority of other places, and their shipping is God AWFUL. Poor deals here and there, etc
post #43 of 57
bitcoin gains its value from rarity, human nature and... marketing. There's only so many. If people want more than other people want to let go of, the value rises. Regardless of how worthless the item traded might in fact be. It has value to you because it has value to others. In essence it's no different than a bank telling you you have some digital $ amount in your account.

There's also other factors like decentralizated currency, no dependence on any government, etc... But that's the base of it.
3930K
(19 items)
 
  
CPUMotherboardGraphicsRAM
Intel Core i7 3930K [C2 rev] Gigabyte X79-UD3 Sapphire Radeon HD 7950 OC G.Skill 32GB PC3-12800 RipjawsZ DDR3 SDRAM (4x ... 
Hard DriveOptical DriveCoolingOS
Samsung 512GB 830 SSD LG USB DVD-RW Noctua NH-D14 CPU Cooling Socket 2011 Win7 x64 Ultimate 
OSMonitorMonitorKeyboard
Debian amd64 7.2 LG 47" LX9500 TV 5x1P Dell U2713HM Ergonomic Microsoft wired keyboard 
PowerCaseMouseMouse Pad
OCZ ZX 1250W APLUS Case Monolize, ATX, Black, 2x250mm Fans Logitech MX518 generic 
AudioAudioAudio
onboard sound card Onkyo TX-NR1009 receiver Jamo S 606 HCS 5 - 5.1 speakers 
  hide details  
Reply
3930K
(19 items)
 
  
CPUMotherboardGraphicsRAM
Intel Core i7 3930K [C2 rev] Gigabyte X79-UD3 Sapphire Radeon HD 7950 OC G.Skill 32GB PC3-12800 RipjawsZ DDR3 SDRAM (4x ... 
Hard DriveOptical DriveCoolingOS
Samsung 512GB 830 SSD LG USB DVD-RW Noctua NH-D14 CPU Cooling Socket 2011 Win7 x64 Ultimate 
OSMonitorMonitorKeyboard
Debian amd64 7.2 LG 47" LX9500 TV 5x1P Dell U2713HM Ergonomic Microsoft wired keyboard 
PowerCaseMouseMouse Pad
OCZ ZX 1250W APLUS Case Monolize, ATX, Black, 2x250mm Fans Logitech MX518 generic 
AudioAudioAudio
onboard sound card Onkyo TX-NR1009 receiver Jamo S 606 HCS 5 - 5.1 speakers 
  hide details  
Reply
post #44 of 57
Quote:
Originally Posted by ryboto View Post

Why is it useful?

If you don't understand what makes bitcoin useful, you don't know enough about bitcoin to decide rather it's a valuable thing or not.

I am nowhere near as much of a bitcoin apologist as this guy, nor do I agree with all he says, but it represents well a lot of what people find useful about bitcoin:

Glorious 4K
(23 items)
 
  
CPUMotherboardGraphicsRAM
Intel Core i7-5930k @ 4.625 GHz ASUS X99-A USB 3.1 EVGA GTX 1080 Ti @ 1950/12200 Corsair Vengeance LPX 32GB DDR4-2666 C15 
Hard DriveHard DriveHard DriveCooling
OCZ Agility 3 240GB Seagate 600 Pro 240 GB WD Black 4TB Corsair H110 
CoolingCoolingCoolingCooling
Noctua NF-A14 x2 Corsair SP140 x2 Corsair AF120 x1 Corsair SP120 x4 
CoolingOSMonitorKeyboard
EVGA Titan X Hybrid AIO Windows 10 Professional x64 Sharp Aquos 4K LC-60UD27U Logitech K520 
PowerCaseMouseAudio
Corsair AX1200 Corsair Obsidian 450D Logitech Wireless Gaming Mouse G700 Sound Blaster Z Sound Card 
AudioAudioOther
Logitech Z906 Speakers Razer Chimaera 5.1 Headphones Sunbeam Rheosmart 6 fan controller 
  hide details  
Reply
Glorious 4K
(23 items)
 
  
CPUMotherboardGraphicsRAM
Intel Core i7-5930k @ 4.625 GHz ASUS X99-A USB 3.1 EVGA GTX 1080 Ti @ 1950/12200 Corsair Vengeance LPX 32GB DDR4-2666 C15 
Hard DriveHard DriveHard DriveCooling
OCZ Agility 3 240GB Seagate 600 Pro 240 GB WD Black 4TB Corsair H110 
CoolingCoolingCoolingCooling
Noctua NF-A14 x2 Corsair SP140 x2 Corsair AF120 x1 Corsair SP120 x4 
CoolingOSMonitorKeyboard
EVGA Titan X Hybrid AIO Windows 10 Professional x64 Sharp Aquos 4K LC-60UD27U Logitech K520 
PowerCaseMouseAudio
Corsair AX1200 Corsair Obsidian 450D Logitech Wireless Gaming Mouse G700 Sound Blaster Z Sound Card 
AudioAudioOther
Logitech Z906 Speakers Razer Chimaera 5.1 Headphones Sunbeam Rheosmart 6 fan controller 
  hide details  
Reply
post #45 of 57
Quote:
Originally Posted by BigMack70 View Post

If you don't understand what makes bitcoin useful, you don't know enough about bitcoin to decide rather it's a valuable thing or not.

That's what he's been asking this whole time.
post #46 of 57
Quote:
Originally Posted by BigMack70 View Post

If you don't understand what makes bitcoin useful, you don't know enough about bitcoin to decide rather it's a valuable thing or not.

I am nowhere near as much of a bitcoin apologist as this guy, nor do I agree with all he says, but it represents well a lot of what people find useful about bitcoin:


I just don't think it's useful to me, so for me, it has no value. I've watched videos, read reasons as to why it supposedly has value, and it's still a ridiculous concept to me.
mitx
(16 items)
 
  
CPUMotherboardGraphicsRAM
Intel i5 3570K 4.5ghz ASRock Z77E-ITX Sapphire R9 290x Tri-X 1200/1500 Crucial Ballistix Tactical LP 2x8 GB 8-8-8-24-1T 
Hard DriveHard DriveHard DriveHard Drive
Samsung 840 Pro 256gb Western Digital Velociraptor Western Digital WD15EARX Western Digital WD15EADS 
CoolingOSMonitorKeyboard
Silverstone NT06-Pro Windows 10 x64 LG 29UM67 Logitech G710+ 
PowerCaseMouseAudio
Silverstone SG08 600W PSU Silverstone SG08B Logitech G700 Pioneer SE-A1000 
  hide details  
Reply
mitx
(16 items)
 
  
CPUMotherboardGraphicsRAM
Intel i5 3570K 4.5ghz ASRock Z77E-ITX Sapphire R9 290x Tri-X 1200/1500 Crucial Ballistix Tactical LP 2x8 GB 8-8-8-24-1T 
Hard DriveHard DriveHard DriveHard Drive
Samsung 840 Pro 256gb Western Digital Velociraptor Western Digital WD15EARX Western Digital WD15EADS 
CoolingOSMonitorKeyboard
Silverstone NT06-Pro Windows 10 x64 LG 29UM67 Logitech G710+ 
PowerCaseMouseAudio
Silverstone SG08 600W PSU Silverstone SG08B Logitech G700 Pioneer SE-A1000 
  hide details  
Reply
post #47 of 57
Quote:
Originally Posted by Syan48306 View Post

Clearly, you haven't traded bitcoins or follow it closely. Should newegg go live with Bitcoins, it would further legitimize bitcoin as a form of currency. It doesn't matter if Newegg just dumps it back onto the market, it'll be an insignificant amount that they're dumping anyway. It's only tens of thousands of dollars when you've got people executing 100 coin buys and sells ie. up to hundreds of thousands of dollars.

In any case, this news will cause a panic buy which will make the price shoot up. That's when you sell your own coins and make a profit! thumb.gif

That depends if this gets any media coverage, since what Newegg does it not really taking the Bitcoin in (since they just dump them again).
We can agree that there may be an rise in Bitcoins, but that will be due to media coverage and people will then think it will get more value, and no one will sell and people want in = price goes up.

It will course a panic buy due to the possible media coverage and the belief that the coins value will rise.
NOT because Newegg begins using it as a payment; AGAIN, why should people first buy a coin, and then use it on Newegg, when they could just use the dollar instead (same price if no fees on transaction) = no fees and time wasted.
post #48 of 57
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 ?

The U.S. Dollar is an almost guaranteed bad investment. Look at the American dollar:




Now look at Bitcoin:



Even if they just hold onto the coins for a few days before cashing them out, the likely hood of making some amount of money simply through exchange is much higher than accepting USD alone. At the same time, I dont have any faith in any money system that is not commodity based, because it WILL fail. That is why I primarily invest (when I have funds to anyway) in lead, steel, and brass...I think Metro2033 has the next world currency correct, and I will be a rich man.
Blue540
(14 items)
 
x99
(18 items)
 
B.M.O.
(10 items)
 
CPUMotherboardGraphicsGraphics
6800k ASUS X99-A EVGA 980 FTW ACX 2.0 EVGA 980 FTW ACX2.0 
RAMHard DriveHard DriveCooling
Corsair Vengeance CMK32GX4M4B3200C16W Crucial MX100 WD Blue 1TB EK Supremacy EVO 
CoolingCoolingCoolingOS
EK 480 PE EK 240 PE EK D5 Vario Windows 10 
MonitorKeyboardPowerCase
Samsung 49KU7500 (curved 4k) Corsair K65 NZXT Hale 90 V2 1000W Thermaltake X9 
MouseMouse Pad
Logitch G100S X-Trac Ripper 
CPUMotherboardGraphicsRAM
6400k msi A75MA-P33 Sapphire 6670 passive hynix 2 GB dual channel 
Hard DriveOSMonitorKeyboard
WD  windows 8.1 e-machine wireless 
PowerCase
king win 600w custom built 
  hide details  
Reply
Blue540
(14 items)
 
x99
(18 items)
 
B.M.O.
(10 items)
 
CPUMotherboardGraphicsGraphics
6800k ASUS X99-A EVGA 980 FTW ACX 2.0 EVGA 980 FTW ACX2.0 
RAMHard DriveHard DriveCooling
Corsair Vengeance CMK32GX4M4B3200C16W Crucial MX100 WD Blue 1TB EK Supremacy EVO 
CoolingCoolingCoolingOS
EK 480 PE EK 240 PE EK D5 Vario Windows 10 
MonitorKeyboardPowerCase
Samsung 49KU7500 (curved 4k) Corsair K65 NZXT Hale 90 V2 1000W Thermaltake X9 
MouseMouse Pad
Logitch G100S X-Trac Ripper 
CPUMotherboardGraphicsRAM
6400k msi A75MA-P33 Sapphire 6670 passive hynix 2 GB dual channel 
Hard DriveOSMonitorKeyboard
WD  windows 8.1 e-machine wireless 
PowerCase
king win 600w custom built 
  hide details  
Reply
post #49 of 57
Quote:
Originally Posted by ryboto View Post

I just don't think it's useful to me, so for me, it has no value. I've watched videos, read reasons as to why it supposedly has value, and it's still a ridiculous concept to me.

Think of it as this, it has value because of its popularity. We gave it popularity, so we gave it value. Is it useful? It depends on the person. For me, I see no reason to use it, but that's just me.
Edited by JockThatCamel - 1/15/14 at 12:00pm
post #50 of 57
Quote:
Originally Posted by JockThatCamel View Post

Think of it as this, it has value because of its popularity. We gave it popularity, so we gave it value. Is it useful, it depends on the person. For me, I see no reason to use it, but that's just me.

That's basically the understanding I had. Which still seems ridiculous, to me. I guess it's no more ridiculous than people spending millions on in-game mmo currency, but at the same time, those currencies aren't used outside of the games themselves.
mitx
(16 items)
 
  
CPUMotherboardGraphicsRAM
Intel i5 3570K 4.5ghz ASRock Z77E-ITX Sapphire R9 290x Tri-X 1200/1500 Crucial Ballistix Tactical LP 2x8 GB 8-8-8-24-1T 
Hard DriveHard DriveHard DriveHard Drive
Samsung 840 Pro 256gb Western Digital Velociraptor Western Digital WD15EARX Western Digital WD15EADS 
CoolingOSMonitorKeyboard
Silverstone NT06-Pro Windows 10 x64 LG 29UM67 Logitech G710+ 
PowerCaseMouseAudio
Silverstone SG08 600W PSU Silverstone SG08B Logitech G700 Pioneer SE-A1000 
  hide details  
Reply
mitx
(16 items)
 
  
CPUMotherboardGraphicsRAM
Intel i5 3570K 4.5ghz ASRock Z77E-ITX Sapphire R9 290x Tri-X 1200/1500 Crucial Ballistix Tactical LP 2x8 GB 8-8-8-24-1T 
Hard DriveHard DriveHard DriveHard Drive
Samsung 840 Pro 256gb Western Digital Velociraptor Western Digital WD15EARX Western Digital WD15EADS 
CoolingOSMonitorKeyboard
Silverstone NT06-Pro Windows 10 x64 LG 29UM67 Logitech G710+ 
PowerCaseMouseAudio
Silverstone SG08 600W PSU Silverstone SG08B Logitech G700 Pioneer SE-A1000 
  hide details  
Reply
New Posts  All Forums:Forum Nav:
  Return Home
  Back to Forum: Rumors and Unconfirmed Articles
Overclock.net › Forums › Industry News › Rumors and Unconfirmed Articles › (The Next Web) Newegg teases about accepting Bitcoin soon