Interesting, but is he willing to cover lost items or shipping to insane countries?
Actually insurance may be a option in the very near future. We are working on adding many new features!
Buy Newegg gear using Bitcoin
11–20 of 74 posts
Re: Buy Newegg gear using Bitcoin
#12It's interesting to see that this guy wants to transfer BTC -> USD in the form of Newegg shipments, but I have yet to see anyone major accept Bitcoins directly. Newegg has something of useful value (like a hard drive). Both BTC and USD have no useful value in this sense. The actual item 1 USD is simply a piece of cotton-paper with ink on it. A BTC is a mathematical hash. Nobody major with useful objects accepts BTCs.…
Accepting BTC directly would really be ideal from large vendors. But one very interesting thing about our service is the worldwide shipping. Newegg makes it very difficult to buy with a non-US (or non-Canadian) credit card. They won't ship outside the US or Canada either. So it really opens up the market to other people. Things like this are exactly what we at bitspend want bitcoin to be successful in. Opening up new markets.
Re: Buy Newegg gear using Bitcoin
#13Considering how much people are charging in BTC for goods and services currently and the difficulty of earning BTC, I'd rather spend real currency. Note that I didn't check the Newegg BTC prices. I'm only applying what I've seen so far and expecting nothing different from bitspend/Newegg.
This is perfect for me as someone who does not live in the US. I live in Peru, don't have access to real electronics, cannot order from newegg without a US credit card / US address. If this site really does mail forwarding, then it would be awesome for me.
I just wish they also did clothes, books, maybe amazon.com or something.
Re: Buy Newegg gear using Bitcoin
#14Sketchy, but I love BTC
Re: Buy Newegg gear using Bitcoin
#15It's interesting to see that this guy wants to transfer BTC -> USD in the form of Newegg shipments, but I have yet to see anyone major accept Bitcoins directly. Newegg has something of useful value (like a hard drive). Both BTC and USD have no useful value in this sense. The actual item 1 USD is simply a piece of cotton-paper with ink on it. A BTC is a mathematical hash. Nobody major with useful objects accepts BTCs.…
Accepting BTC directly would really be ideal from large vendors. But one very interesting thing about our service is the worldwide shipping. Newegg makes it very difficult to buy with a non-US (or non-Canadian) credit card. They won't ship outside the US or Canada either. So it really opens up the market to other people. Things like this are exactly what we at bitspend want bitcoin to be successful in. Opening up new…
I would imagine there is more to accepting international orders (and shipping there) than simply 'using non-US credit cards'. Things like tariffs, export restrictions, taxes (both source and destination company), international corporate status, fraud, etc.
In light this, I find bitcoin espoused as 'opening up new markets' a bit of an odd statement.
Re: Buy Newegg gear using Bitcoin
#16How are you guys mitigating the volitility. Arbitrage? Seems to me with +- 10 USD in one day, if an order comes in during a top when the quote from newegg is for $20K and suddenly the exchange tanks you'll be stuck with a heavy loss. Of course, it works the other way too...
Re: Buy Newegg gear using Bitcoin
#17It's interesting to see that this guy wants to transfer BTC -> USD in the form of Newegg shipments, but I have yet to see anyone major accept Bitcoins directly. Newegg has something of useful value (like a hard drive). Both BTC and USD have no useful value in this sense. The actual item 1 USD is simply a piece of cotton-paper with ink on it. A BTC is a mathematical hash. Nobody major with useful objects accepts BTCs.…
same goes for gold. proof of work systems are unintuitive.
the value is determined by average investor time window and whether or not the network is growing slower or faster than a certain rate determined by that time window.
people buy gold with the intention of later selling it to someone who also wants to buy it so they can sell it later. why does anyone bother? because there is demand for transporting value over time. gold supply is low, the investment window is long, and the number of people who wish to store value for a later date is increasing.
the investment window for bitcoin is unknown.
Re: Buy Newegg gear using Bitcoin
#18Why wouldn't this work for any store or currency? Or is this just a creative way to go long on bitcoin?
Exactly right. We may add more currencies in the future and additional stores asap. Suggestions appreciated :)
in addition of you adding more stores. why dont you create a pay pal button type thing that allows developers to accept bitcoins.
click HERE to buy in dollars. and HERE to buy in bitcoins
Re: Buy Newegg gear using Bitcoin
#19Earlier quoted context omitted.
Accepting BTC directly would really be ideal from large vendors. But one very interesting thing about our service is the worldwide shipping. Newegg makes it very difficult to buy with a non-US (or non-Canadian) credit card. They won't ship outside the US or Canada either. So it really opens up the market to other people. Things like this are exactly what we at bitspend want bitcoin to be successful in. Opening up new…
I would imagine there is more to accepting international orders (and shipping there) than simply 'using non-US credit cards'. Things like tariffs, export restrictions, taxes (both source and destination company), international corporate status, fraud, etc. In light this, I find bitcoin espoused as 'opening up new markets' a bit of an odd statement.
For individual orders by the end user, there really isn't that much more. Most of the additional costs such as import duties are typically the responsibility of the receiver.
Re: Buy Newegg gear using Bitcoin
#20How are you guys mitigating the volitility. Arbitrage? Seems to me with +- 10 USD in one day, if an order comes in during a top when the quote from newegg is for $20K and suddenly the exchange tanks you'll be stuck with a heavy loss. Of course, it works the other way too...
Volatility is not a real big issue because we can quickly move bitcoin into USD. If a customer sends bitcoin and wants to cancel before the order is placed, then there is no problem. We will just refund them. Customer always comes first.