Overstock.com, one of the major online retailers, has stated that it will start accepting Bitcoin payments by the second half of 2014.

What are you thinking?

View Results

Loading ... Loading ...
1 Star2 Stars3 Stars4 Stars5 Stars (Rate This)
Loading...Loading...

Bitcoin has seen a lot of fluctuation in the last few days. But here are finally some good news: Overstock, one of the major retailers around, has announced that it will start accepting Bitcoin payments in the second half of 2014.


BitCoin

Although many have touted this as simply a publicity stunt, it has attracted praise and support from the Bitcoin community. Overstock.com has cited its intents of using Bitcoin in the past too and now, the company has announced that it will start accepting Bitcoin payments in the second half of 2014.

This would make Overstock the first major retailer to start accepting Bitcoin, if someone else doesn’t take the crown away in the first half of 2014. Interestingly, Overstock aims to steer clear of popular Bitcoin processors such as Coinbase and has said that it will be managing its Bitcoin-based transactions on its own.

For now, the company says that it is working out the logistical details of the plan. One slight catch is that according ot the company’s CEO, Patrick Byrne, it will need a hedge market to base the risk of using Bitcoin on, or else the company will be converting the digital currency back into dollars.

The best part is that the rapid fluctuations in the value of Bitcoin will not affect Overstock’s implementation. Byrne says that if Overstock finds a hedge market to base the risk on or even if the company decides to convert the currency back into dollars, that would mean that any fluctuations in Bitcoin’s value will be of little significance to Overstock.

That is certainly a welcome note for the Bitcoin community and may notch up the legitimacy of the currency in the financial world. Until now, only small marketplaces and limited niches on the web have been accepting Bitcoin as an acceptable mode of payment. This may change if other retailers follow in the steps of Overstock in the coming days.

Courtesy: NewsBTC

Buy Cheapest Related Product From Amazon.com


PointGrab To Unveil Technology For Controlling Devices With Gestures At CES 2014

Phantom 2 Vision: A New Personal Drone With Amazing Features
You can also press the left/right arrow key on your keyboard to go to previous/next post
  On December 22, 2013(12 months, 4 days ago.)

Recent Products

Buy Now | Compare  
Buy Now | Compare  
Buy Now | Compare  
Buy Now | Compare  
Compare  

What Do You Think?

Loading Disqus Comments ...
Loading Facebook Comments ...

Recent Search

Recent Tutorials

Many users are already complaining and searching for the tips of how to capture the screenshot on LG G3. The tutorial will help to do that.
The tutorial will help how you can minimize the mobile data on your android device (Here we used LG G3 S for the tutorial)
The tutorial will help you to turn on battery Saver for LG G3 or G3 S both manually and automatically.
This tutorial is about how you can set up various auto reply messages on LG G3 S tp know the caller why you could not answer the call.
This tutorial is about disabling automatic shortcut creation of new installed app on android devices.
This tutorial is about showing you how to turn off location in Facebook of your Android devices.
My tutorial is for those who wants to delete those history partially or fully or to disable those if they want.
This tutorial will show you how to stop those videos in your Android mobile not to play automatically.
This tutorial will help you to Disable Auto-Update Of Android Apps in your Android Device. The steps are quite easy to execute.
This tutorial will help you to clear search history from your Google Play Store in your Android Device. The steps are quite easy to execute.
Close You Have To Login
User:
Pass:
Login With »Login With TwitterLogin With Facebook