Newegg is now accepting Bitcoin

Post by Nursie » Tue, Jul 01, 2014, 2:39 PM UTC

aianus wrote: post #126

Nursie wrote: post #122

Earlier quoted context omitted.

LOL. Until one day it all goes wrong, or management change and don't care about service so much. And that also acts as a barrier for new entrants into the market, stifling competition. When you have to just trust that a new market entrant won't run off with your cash, why would you ever risk it? There's a hell of a lot that consumer protections and existing payment instruments give us.

So use Bitcoin where you trust the seller or the amount is small enough that you don't care and pay the 2-3% credit card insurance premium everywhere else. Win-win.

Post by rstupek » Tue, Jul 01, 2014, 2:44 PM UTC

NSEDhom wrote: post #106

jdong wrote: post #94

Earlier quoted context omitted.

Absolutely, but the numbers are still incredibly low. The customer adoption is only at a few thousand transactions per day. Those numbers would have to go up at least hundredfold for Bitcoin to be taken seriously as a currency.

Apparently they don't have to go up at all for it be taken seriously by Newegg, Overstock, Dish, and Tiger Direct.

Post by kalleboo » Tue, Jul 01, 2014, 3:01 PM UTC

mrb wrote: post #36

asdfaoeu wrote: post #12

Earlier quoted context omitted.

True there's no advantage to paying with bitcoin currently and most people are just using it for the novelty value. But enough growth and merchants will just have to offer discounts with bitcoin purchases to stay competitive.

If the numerous and massive data breaches, and subsequent credit card theft and fraud events of the last few years have taught us anything, it is that yes paying in bitcoins has one fundamental advantage: you are never handing the store your full billing info which can be stolen and reused by fraudsters. Now, Bitcoin also has its own security challenges (eg. how to secure a wallet), but there are solutions (hardware…

Post by kaonashi » Tue, Jul 01, 2014, 3:03 PM UTC

mrb wrote: post #9

sanswork wrote: post #2

Pay 1% more(or 3%-8% more if you have a cash back card and depending on where you bought your coins) to save them 2% and lose all consumer protections in the deal. It's no wonder there is almost no consumer growth in the bitcoin world while new merchants are announced every other day.

You are wrong, there is tremendous consumer growth happening. The two biggest US processors (BitPay and Coinbase) release numbers every once in a while. One example: "Since [...] October, along with the integration with Shopify in November, [...] the transaction volume has tripled." Source: http://blog.bitpay.com/2013/12/11/bitpay-exceeds-100-000-000...

Post by awt » Tue, Jul 01, 2014, 3:08 PM UTC

sanswork wrote: post #2

Pay 1% more(or 3%-8% more if you have a cash back card and depending on where you bought your coins) to save them 2% and lose all consumer protections in the deal. It's no wonder there is almost no consumer growth in the bitcoin world while new merchants are announced every other day.