Newegg introduces Bitcoin support

[D. Strout]

As geeks, I know many of us here use Newegg for our tech purchases. That's why I'm sure a lot of you will be happy to hear that they now accept Bitcoin payments. That is all.

 

[drmike]

Glad to see more BitCoin and alterna-currency support by more traditional, large companies.

 

[drmike]

I am waiting for Ebay/Paypal to join on the BitCoin movement.   When that happens, some serious momentum will happen.

 

[Cloudrck]

It's about time, I got tired of paying high taxes at TigerDirect for large items.

 

[MannDude]

Nice!

I bought a pair of pants from Overstock.com with BitCoin, returned them and was refunded via BitCoin, then bought a drying rack for wet laundry from them.... with BitCoin!

Pretty rad.

 

[Aldryic C'boas]

...one-day pants?  You monster.

 

[texteditor]

Newegg accepts Bitcoin* via Bitpay

*Bitcoin, of course, meaning cash from Bitpay

 

[texteditor]

Nice!

I bought a pair of pants from Overstock.com with BitCoin, returned them and was refunded via BitCoin, then bought a drying rack for wet laundry from them.... with BitCoin!

Pretty rad.

Overstock posted some statistics about their Bitcoin sales a while back

The most frequent item purchased by bitcoiners? Bed sheets

 

[D. Strout]

CNET published an article about this, does a good job covering some of the implications of such a large retailer getting on board: http://www.cnet.com/news/bitcoin-gets-buy-in-from-newegg-the-tech-focused-retailer/

 

[SkylarM]

Bitcoin as a payment processor is pretty cool, must admit. We just added bit-pay, seems like a good time with companies like newegg getting on board.

 

[texteditor]

What is gonna happen when Bitpay runs out of VC money to give to businesses in exchange for people's coins? Nothing about their business model makes sense

 

[dave]

I would guess that bitpay makes their money buying and selling the coins on the market, with the usual spread.

 

[D. Strout]

Quick update: Newegg is offering 10% off up to $100 (in other words, max $10 off) if you pay with bitcoin and use promo code BITCOIN.

 

[shovenose]

Amazon>Newegg any day.

 

[definedcode]

The only problem (I've found) is that BitPay's withdrawal thresholds are very high, £1000 before you can get a payout in GBP. That's hard for a starting-out host but easy for a company like Newegg.