Newegg will happily take your Bitcoins

Newegg, the hugely popular online electronics retailer, has announced that Bitcoin will become an accepted method of payment on the site from now on. The company is using Bitcoin payment processor Bitpay to handle all orders that are placed; the processor is renowned for its reliability and scalability within the industry.

The move by Newegg not only grants their customers another form of payment, but also furthers the quest to legitimize the virtual currency. Bitcoin has become the choice of payment for many criminals online, and is often associated with illegal activity. One example of this is the notorious Silk Road - the world's largest online market for illegal goods - which was recently taken down by the FBI; the authorities gathered a total of over $128 million in Bitcoin.

The site allows payment from digital wallets hosted on the web - among other forms.

Despite the recent collapse of the popular Mt.Gox exchange, Bitcoin remains to be a widely used currency for sites that accept it. Just recently, Overstock announced that they would accept the currency, and they reigned in nearly a million dollars worth of the tender in the first month. Whether Newegg will experience the same success, only time will tell. 

Source: Newegg  via BusinessWire

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It is not profitable for the average person to "mine" bitcoins. The required computing power is out of the reach of most people due to electricity and hardware costs. Ironically, that made bitcoin more centralized that was it was designed for. $1,800 for a dedicated piece of hardware running 24/7 would take about 4 months to break even, at current bitcoin prices.

FINALLYYYYY AHHHH!!! This is very exciting, I think I'll celebrate and buy a replacement for this old Razer Mamba.. I kinda feel mad because Newegg doesn't carry the Razer Edge Pro -_- gahhhhhhhh please stock up on them Newegg!!! My time has come!!!!!!

I'm still generating them... 1.001 bitcoins so far, after 1 month farming... just hope CPU supports all this work :)

I got in around $200 last year but don't have enough to retire on or anything like that. I figured it was a risky investment so I just put what I could afford to lose into bitcoins.

Cool, with this I can override the only to usa emmited credit cards new egg. Is there anyway I can purchase bitcoins without having a currency loss or is that even possible?

Whether or not you care about Bitcoin it is pretty interesting how more and more businesses are accepting them. It is quite exciting as well as it means we are opening the doors to new possibilities of currencies online and offline.

While this is not something I will personally use just yet it is very cool to see the world changing.

Except technically most of these sites aren't actually "accepting" bitcoin directly. They'll take bitcoins as long as there's a currency exchange turning them into USD.

It's not like Newegg is keeping a stash of bitcoins from purchases somewhere.

nekomata said,
your loss, huge loss.

Why huge loss? I don't even use newegg anymore. Once they started selling Dog Food, I moved on :laugh:. I've bought one or 2 things over the past few years, but other than that i've been a Amazon Prime Member and never looked back.

warwagon said,

Why huge loss? I don't even use newegg anymore. Once they started selling Dog Food, I moved on :laugh:. I've bought one or 2 things over the past few years, but other than that i've been a Amazon Prime Member and never looked back.

Amazon Prime isn't really all that great of a deal anymore unless you use the streaming. The "free shipping" is just built into the price on a lot of items, so I got better deals on other online shops or local stores like Micro Center. I will admit that Amazon is convenient though (and I am a Prime member myself).