Dell embraces Bitcoin


"Now you can buy digital with digital," reads a blog post in which Dell announces it's accepting Bitcoin (COIN, OTCQB:BTCS) payments on Dell.com.

The IT giant is partnering with popular Bitcoin payment-processor Coinbase, and is launching a promotion through which buyers of Alienware gaming PCs can get a 10% discount (up to $150) by paying via Bitcoin.

Dell joins a Bitcoin supporter list that also includes Newegg, Expedia, Dish Network, and Overstock. The virtual currency's low transaction fees have given merchants an incentive to accept it, even as its volatility leaves others cautious.

Coinbase is currently showing bid-ask spread of $627-$630.

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Comments (3)
  • SoldHigh
    , contributor
    Comments (991) | Send Message
     
    At this point, it would seem that any saving in transaction fees are potentially wiped out and/or exceeded by the volatility in the currency.
    18 Jul 2014, 06:26 PM Reply Like
  • sportscliche
    , contributor
    Comments (251) | Send Message
     
    No, that's the function of Coinbase. For a 1 percent fee, Coinbase instantly converts Bitcoin to fiat thereby eliminating the volatility. I doubt Dell will be holding much Bitcoin, at least not at present.
    18 Jul 2014, 06:34 PM Reply Like
  • King Rat
    , contributor
    Comments (1841) | Send Message
     
    It is a shame, really. All the effort going into "mining" could be going into something more purposeful such as folding.

     

    Imagine if the supermarket had a "spread" for groceries.
    "Your veggie burgers will be $3.35, and you gave me a 5. OK, here's your $1.50 change. Thank you so much!"

     

    I can accept a spread in stocks because I may pay 2¢ above bid for a stock I want, but over a year it may pay $2 in dividends. At least gold is shiny.
    21 Jul 2014, 12:05 AM Reply Like
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