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NewEgg now accepting BitCoin

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#1 bithush

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Posted 01 July 2014 - 14:24

Another week and another big company has started to accept the digital crypto currency known as BitCoin.

 

While many people are still very sceptical about the legitimacy of BitCoin it seems that more and more businesses are beginning to see it as a legitimate form of payment.

 

Link to NewEgg announcement http://promotions.ne...3540/index.html




#2 +LogicalApex

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Posted 01 July 2014 - 14:32

Yeah. Businesses will embrace it for good reason. It cuts their costs and kills all buyer protections.

#3 OP bithush

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Posted 01 July 2014 - 14:39

I don't follow you on the "kills all buyer protections"? Providing you get a receipt for your purchase you are protected just as if you use cash instead. Could you explain what you mean? I am a bit confused.



#4 Rigby

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Posted 01 July 2014 - 14:40

I still don't get the advantage, you buy bitcoins with real money and then you buy something with bitcoins; why not just buy that something with real money?



#5 +LogicalApex

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Posted 01 July 2014 - 14:59

I don't follow you on the "kills all buyer protections"? Providing you get a receipt for your purchase you are protected just as if you use cash instead. Could you explain what you mean? I am a bit confused.

Your receipt doesn't do anything more than show that you purchased the item. It does not afford you protections granted by either the credit card company or enshrined into law when dealing with credit... Even if you're lucky enough to be in a jurisdiction that does grant you a lot of protection when paying with Cash. Good luck getting your money back...

 

If NewEgg decides not to give you back your money due to the item being marked as "delivered" by your courier even though you never did receive the item... How will you get this money? Spend money suing them in court? Calling my bank and getting a refund in minutes is a lot easier, safer, and less hassle than it would be fighting NewEgg in court over a $500 GPU.

 

BitCoin for stores is a big win for the merchant and not a real anything for the consumer...



#6 Phouchg

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Posted 01 July 2014 - 15:01

I misread the title that Neowin... off I'll be on my merry way then.



#7 vetneufuse

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Posted 01 July 2014 - 15:24

Your receipt doesn't do anything more than show that you purchased the item. It does not afford you protections granted by either the credit card company or enshrined into law when dealing with credit... Even if you're lucky enough to be in a jurisdiction that does grant you a lot of protection when paying with Cash. Good luck getting your money back...

 

If NewEgg decides not to give you back your money due to the item being marked as "delivered" by your courier even though you never did receive the item... How will you get this money? Spend money suing them in court? Calling my bank and getting a refund in minutes is a lot easier, safer, and less hassle than it would be fighting NewEgg in court over a $500 GPU.

 

BitCoin for stores is a big win for the merchant and not a real anything for the consumer...

 

this... and what about returns if they do accept them? You wouldn't return it at the current bit coin rate, you'd want to return it at the value at the time of purchase, which might of been less... so they might be making money off you for all we know with the return



#8 Boz

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Posted 09 July 2014 - 23:06

I still don't get the advantage, you buy bitcoins with real money and then you buy something with bitcoins; why not just buy that something with real money?

 

Because of collective insanity fueled by libertarian utopian dream which is in essence insane. Plus, Bitcoin was created by criminals because it allows people to bypass traditional legal channels and allows them to funnel money with less risk. That's why it's really popular. 

 

Anyone who deals with Bitcoin deserves anything they get.



#9 Enron

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Posted 09 July 2014 - 23:08

Anyone who deals with Bitcoin deserves anything they get.

 

Thanks, I purchased another Nvidia GTX Titan and some cat food with bitcoins.