Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Newegg is now accepting Bitcoin

promotions.newegg.com

Post reply on HN
Print view View original

171–180 of 212 posts

Re: Newegg is now accepting Bitcoin

#171

Post by Nakatomi_Plaza »

foobarqux wrote: post #156
blhack wrote: post #144

Reading these comments is depressing. Bitcoin isn't a few geeks trading bits over IRC anymore, guys. To some of the common bitcoin concerns: 1) They're easy to steal! Look at this person who did $something_stupid and had all their coins stolen! Yeah, sure...and if you had left $10,000 in cash just sitting on your table, the same thief could have stolen that as well. There are stories every single day of people having…

Why would a consumer use it over a credit card? Especially when you need to use a credit card or other payment method to buy the bitcoin in the first place?

Some don't, like everybody who posts on the mining forums of bitcointalk.org and is generating their own coins, or converting alternative coins to bitcoin. All these miners want computer hardware, makes sense to directly market to them.

Re: Newegg is now accepting Bitcoin

#172

Post by sanswork »

awt wrote: post #139
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 should try paying for something with BTC once, just for fun.

I have. I've been interested in bitcoin for years now. But my interest doesn't translate to me thinking it will be successful as a consumer tool.

Re: Newegg is now accepting Bitcoin

#173

Post by laichzeit0 »

pauletienney wrote: post #150
blhack wrote: post #144

Reading these comments is depressing. Bitcoin isn't a few geeks trading bits over IRC anymore, guys. To some of the common bitcoin concerns: 1) They're easy to steal! Look at this person who did $something_stupid and had all their coins stolen! Yeah, sure...and if you had left $10,000 in cash just sitting on your table, the same thief could have stolen that as well. There are stories every single day of people having…

I do agree. However, i feel there won't be strong adoption without a great advantage for customers.

Let's see. I could pay for hardcore online pornography in a pretty anonymous way. I could board a flight with a flash drive containing $1million dollars in BTC. I don't have any draconian restrictions on who I can and can't exchange my "money" with. If you send me BTC and the network confirms I never have to worry about your cheque "bouncing". I could donate to Wikileaks without a company like MasterCard or Visa deciding who I can and can't send my money to.

I can do all these things on my own without having some third party potentially fucking me over or charging me a monthly fee. I consider all these things great advantages.

It also doesn't mean I need to abandon credit cards or other forms of value transfer. But in those cases I now have an alternative I did not have had BTC not existed. It's a weird black and white kind of logic that HN has where it seems for Bitcoin to succeed it must replace everything currently in use. That's a false dichotomy. They can mutually coexist. Right tool for the job.

Re: Newegg is now accepting Bitcoin

#174

Post by ufmace »

mrb wrote: post #70
bergeoisie wrote: post #60

Earlier quoted context omitted.

I would much rather spend 10 minutes on the phone with my credit card company once every couple years contesting fraudulent transactions than have the potential for all of my money to be stolen if I make one security fuck up ever. The number of "I had all my bitcoins stolen, here is the list of 25 security precautions I've taken, where did I fuck up" articles is terrifying. I'm willing to sacrifice the 1% savings or…

You completely ignored my 2nd paragraph. NONE of the theft victims you read about used hardware wallets.

Of course they don't - there's no such thing as a hardware wallet yet. It's irrelevant to the discussion to say that a theft might not have happened if the victim had been using a fictional technology.

Re: Newegg is now accepting Bitcoin

#175

Post by vijayboyapati »

sanswork wrote: post #157
blhack wrote: post #144

Reading these comments is depressing. Bitcoin isn't a few geeks trading bits over IRC anymore, guys. To some of the common bitcoin concerns: 1) They're easy to steal! Look at this person who did $something_stupid and had all their coins stolen! Yeah, sure...and if you had left $10,000 in cash just sitting on your table, the same thief could have stolen that as well. There are stories every single day of people having…

1) What are the best practises for having a bunch of bitcoin? You say you shouldn't keep it stored on your local machine but where? Keeping it stored on exchanges is kind of prone to failure in the bitcoin world. If you want to use a cold wallet you need a second computer that you don't plan to use for anything else and you need to learn linux or its pointless 2) Just because its new doesn't mean its better or makes…

There are a number of technological solutions to the security issues related to storage. BIP38 and multisig are both very promising innovations, and there will be more. We're really at the very early stages of Bitcoin's development. Think 1994 for the Internet.

Re: Newegg is now accepting Bitcoin

#176

Post by [deleted] »

sanswork wrote: post #157
blhack wrote: post #144

Reading these comments is depressing. Bitcoin isn't a few geeks trading bits over IRC anymore, guys. To some of the common bitcoin concerns: 1) They're easy to steal! Look at this person who did $something_stupid and had all their coins stolen! Yeah, sure...and if you had left $10,000 in cash just sitting on your table, the same thief could have stolen that as well. There are stories every single day of people having…

1) What are the best practises for having a bunch of bitcoin? You say you shouldn't keep it stored on your local machine but where? Keeping it stored on exchanges is kind of prone to failure in the bitcoin world. If you want to use a cold wallet you need a second computer that you don't plan to use for anything else and you need to learn linux or its pointless 2) Just because its new doesn't mean its better or makes…

[deleted]

Re: Newegg is now accepting Bitcoin

#177

Post by recycleme »

sanswork wrote: post #157
blhack wrote: post #144

Reading these comments is depressing. Bitcoin isn't a few geeks trading bits over IRC anymore, guys. To some of the common bitcoin concerns: 1) They're easy to steal! Look at this person who did $something_stupid and had all their coins stolen! Yeah, sure...and if you had left $10,000 in cash just sitting on your table, the same thief could have stolen that as well. There are stories every single day of people having…

1) What are the best practises for having a bunch of bitcoin? You say you shouldn't keep it stored on your local machine but where? Keeping it stored on exchanges is kind of prone to failure in the bitcoin world. If you want to use a cold wallet you need a second computer that you don't plan to use for anything else and you need to learn linux or its pointless 2) Just because its new doesn't mean its better or makes…

1) look up paper wallets.

bitcoin is at a stage where it's not trivial to secure if you are not a technical person. There are companies that are working at making this easier by providing the security and even insuring the bitcoins if something happens. When services like this are out we will see a huge turning point IMO.

Re: Newegg is now accepting Bitcoin

#178

Post by aroch »

throwaway5752 wrote: post #165

Newegg itself is not accepting Bitcoin, it is not keeping a balance in Bitcoin, and it has no exposure to Bitcoin related risk. It has a payment processor, Bitpay, that accepts Bitcoin. As long as you have a competent engineer on staff, it's about as difficult as accepting PayPal. It's nice that this is happening, but the headline should be, "BitPay lands Newegg as client". The maturity of the services around Bitcoin…

> it's about as difficult as accepting PayPal

Hah! Bitpay fails often, and it fails in mysterious ways. Manual intervention on up to 10% of payments is no beuno.

Re: Newegg is now accepting Bitcoin

#179

Post by aeturnum »

renata wrote: post #132
aquadrop wrote: post #54

Earlier quoted context omitted.

https://blockchain.info/charts/n-transactions I don't see any growth. Also, 70k transactions/day - one average shopping mall.

Note that many Coinbase/Bitpay/whatever transactions will be off-chain - much like PayPal, you can have an account balance that is just transferred in Coinbase's ledger but doesn't actually appear to be transferred on the block chain.

I thought transactions like that weren't supported by the bitcoin protocol. Are there any resources that explain how this works with the general blockchain?

Re: Newegg is now accepting Bitcoin

#180

Post by mrb »

coldtea wrote: post #167
mrb wrote: post #149

Earlier quoted context omitted.

No. The point is that Bitcoin does not require you to share your billing info with the merchant. Therefore no info shared = no data leak possible = higher security.

All those high profile merchants who accept bitcoins do require you to share your "billing info" so the argument is moot.

Understand this is an issue in the merchant's processes, not with Bitcoin.

Your argument is like saying "seat belts in cars don't always make drivers safer, for one people may forget to buckle up and not benefit from increased safety".

Post reply on HN