Buy Newegg gear using Bitcoin

"Volatility is not a real big issue because we can quickly move bitcoin into USD."

This is true today I guess. When everyone is trying to sell bitcoins it might not be so easy.

Say I'm in the US, but I have an overseas website hosting a browser exploit kit that pushes a trojan to non NATO type countries that steals their bitcoin wallet and mails it to me. I then spend those bitcoins with a US service like this and get a US company to ship goods to a US address. Let's even say the US service knows I'm shady but doesn't care as long as my bitcoins show.

Who of any of us are breaking laws? My understanding of US standards is that hacking foreigners on foreign lands generally doesn't constitute a crime, and most jurisdictions don't seem to treat virtual goods like wow gold as actual theft.

Seems like a rocky and lawless world out there for crypto currencies, especially with so many russians / eastern europeans involved in bitcoin.

I have trouble believing I'd get very far calling up the FBI to report a bitcoin theft.

Here's my theory (from right field) on where the free lunch is coming from:

Bitspend is a hosting company that has invested a lot of extra rack space into mining equipment. They see the giant bubble brewing and have realized that bitcoin needs some legs to stand on. If bitcoin survives, Bitspend's mining operation makes a huge profit. If it crashes, they lose a lot. So giving people an easy way to use bitcoin as an actual currency rather than a speculative investment has a huge long term benefit for them.

Whether my theory is true or not, I think many other heavy mining operations would benefit through similar services. If there are any other big miners out there, I hope you see the value you can add to your investment by doing things like bitspend.

I made an order through them tonight. I was worried too, so I made the order through "Clearcoin," which is a bitcoin escrow service (created by the founders of bitcoin from my understanding). So, one way to know to know it is not a scam is to use an escrow service (always a good policy, actually).