Newegg the latest online retailer to back Bitcoin


Newegg, known for having a tech-savvy customer base (fits well with the demographic profile for Bitcoin early adopters), is partnering with Bitcoin (BITCN, BTCS) payment processor Bitpay to allow its 25M+ customers to pay with the virtual currency.

The online electronics retailer says buyers can pay by scanning QR codes on their phones, or by providing digital wallet address info. It joins Overstock, Expedia, and Dish Network in handling Bitcoin payments.

Following a recent selloff caused by the government's auctioning of 29K+ Bitcoins seized during its Silk Road investigation, Bitcoin prices have once more topped $650.

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Comments (2)
  • King Rat
    , contributor
    Comments (1357) | Send Message
     
    If enough vendors start supporting BC it may be a little less useless, but really for Newegg, the only value is in mining enough BC to get a better GPU to mine more BC to get a better GPU, with electricity and environmental damage to generate that electricity as your cost.

     

    I still don't get BC. There is no utility, no convenience, no industry, no economy, and no scarcity. The reason there is no scarcity is despite a defined limited supply, BC could be instantly replicated, regulated, or legislated at any time.

     

    I'd rather pay with cash or credit.
    1 Jul 2014, 02:12 PM Reply Like
  • Catallaxy
    , contributor
    Comments (2) | Send Message
     
    Bitcoin allows for a decentralized and monetized Internet Cloud which is a superior system in all respects wherein the OldBS (Old Banking System) is slow, antiquated, centralized, has substantial fees, interest rates and charge-back problems.

     

    People we saying the same things about the internet in the early 90's because it made no sense to "need" the internet for anything.

     

    What helps is to realize that their is exponential growth in bandwidth and usage, function and purpose as the "Cloud" matures. No longer will your card have to dial a centralized slow and interest loaded network ... your wallet will be right there IN the Cloud and touching everywhere there is civilized transactions.
    1 Jul 2014, 03:33 PM Reply Like
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