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It's a speculative currency, but that won't stop people from using it, especially those with a substantial stake. People gamble all the time. I did that. It would not close. It just kept moving down the page and then my virus checker kicked in and said I should not go there. They speculate and it gives them what they need. Something new to do. Bit is the past tense of bite.
I bet that Paypal will still do a charge back by tying bitcoin to your account in a way that they will treat your bitcoin funds and cash funds as one general balance. Example: buyer pays you with bitcoin via paypal, and files a charge back. Paypal simply goes into your account since they have a record of the transaction on their end, and they debit your account for the charge back, regardless as to whether or not you have any bitcoin still in your account.
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Showing results for. Search instead for. Did you mean:. This content is old, go here to start a new post. Apr 15, PM. Message 1 of All forum topics Previous Topic Next Topic. Apr 16, PM. Message 21 of Virtual money. Message 22 of Message 23 of I couldn't read it. Couldn't get past the "BitCoin Casino" Message 24 of Oh, so it's exactly like the US dollar.
Message 25 of With PayPal under its wing, eBay is registered with state and federal governments as a bona fide money transmitter, and that gives the site a leg up on many of the early Bitcoin exchanges, which were built by independent computer geeks unfamiliar with the world's rather complicated financial regulations.
The trouble is that selling bitcoins on eBay is sometimes a dicey proposition. But bitcoins can't be clawed back. That means you lose both the payment and the bitcoins themselves. It's just one of the many examples of how web services and businesses and regulators are struggling to come to terms with the world of Bitcoin, which is only now reaching the mainstream. But in the meantime, a photographer in the U. Roger Hughes , who deals in Litecoin, a digital currency similar to Bitcoin, recently published a blog post describing this hack.
During an online chat, he says, an eBay representative told him that anyone selling bitcoins on eBay would be safeguarded by the company if they move their bitcoins onto a physical computing device, such as a thumb drive, and then send that to the buyer.
Bitcoins are essentially addresses on the internet, but you can't spend them without an associated encryption key, and these keys can be moved onto thumb drives or offline computers or even onto things like pieces of paper or physical coins. Asked to comment on the hack, eBay did not immediately provide an answer to our questions about this particular situation.
But Hughes believes his little trick would apply to other physical manifestations of bitcoins, including real coins engraved with encryption keys. Hughes hasn't tried the hack yet, but he says there's good reason to.
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It is really a chicken and egg situation since the more and larger the marketplace that uses Bitcoin the more the financial industry views it as safe and stable and vice-versa. Bitcoin is already accepted and used on an ecommerce platform called Newegg which is actually the largest online platform using the cryptocurrency. The number of Bitcoin based transactions in general not necessarily ecommerce from Here is a list of five ecommerce and ecommerce related platforms which currently accept Bitcoin:.
PayPal is a major player in e-commerce as a large portion of transactions that buyers and sellers complete are done via the platform. In when PayPal merged with Braintree it announced that it would begin accepting Bitcoin.
Paypal here acts as the intermediary with transaction fees being determined by the merchant and payment processor. In order to implement this, Expedia worked with Coinbase which a secure online platform for buying, selling and trading digital currency. The catch is that at present Expedia only accepts Bitcoin transactions for accommodations but may introduce this option for purchasing flights in the future. It is a bit of a hassle but still accounts for solid progress.
Similar to eBay in a sense, Shopify is a relatively new albeit very successful platform which allows individuals to set up online stores vis-a-vis their platform. As of November, all shopify stores were given the option to start accepting Bitcoin if they so desired using a digital currency platform called BitPay. For those of you who are not yet familiar, Etsy is an e-commerce platform founded in for individuals to buy and sell collectibles and handmade arts and crafts.
This system is not as intricate or embracing as other platforms of digital currency but serves as a step in the Bitcoin direction. Bitcoin started as a marginalized project of someone using the pseudonym Satoshi Nakamoto. The people who used Bitcoin at first were gamers, hackers and coders but slowly but surely different sectors started seeing the benefits Bitcoin had to offer them.
Terrorists used it to fund their activities without leaving a trace and money launderers used it to move large amounts of cash around the world flying under the taxation radar. But from the pockets of computer nerds, crooks and terrorists emerged a currency which the greater public desired. Evangelists and many Republicans in America loved the idea of a market driven currency out of the hands of uncle sam and people having a romantic affair loved the the idea of booking a hotel room on Expedia with their lover and not having it appear on their credit card statement.
Governments, banks and even eBay all see the potential of cryptocurrency in general and Bitcoin in particular and my guess is that in the not so far off future you will be able to buy anything from gas to food with Bitcoin. In January , Overstock. The company actually plans to sell of its retail branch and use the blockchain system the digital decentralized ledger which serves as the basis for most digital currencies in order to build a global property registry service for the over 5 billion people who currently lack access.
Another marketplace that accepted bitcoin from an early stage July, as I mentioned before is Newegg which is a fairly large electronics e-commerce marketplace. Back then newegg had Their announcement coincide with the governor of California legalizing the use of cryptocurrency and happened mainly as a result of consumer demand.
According to federal law the only form of legal tender is the US dollar but the internet has no geographical domain leaving it open to the interpretation of individual states unless the supreme court decrees or federal legislation decrees otherwise. They started accepting bitcoin in but stopped in January There are several speculations as to the reason why fiverr took such a sharp turn essentially going against current market trends. Those interested in paying using digital assets can do so by selecting their preferred currency to complete the purchase.
Once the payment is sent, the payment system that the company is using will convert the currency into Bitcoins and end the purchase. The firm planned to sell its retail business to start working on blockchain technology. However, things are not so clear regarding which is the future that the company is planning to take.
Planet Express is an U. This is specifically useful for companies and e-commerce business that have international clients and want to send packages abroad. The company is currently supporting payments in Bitcoin BTC , which makes it easier for companies to pay for the services they request.
Moreover, this could be great to start promoting an international payment chain in Bitcoin, from customers paying in BTC for their products and e-commerce firms using the same BTC received to pay for the package they send. It is possible to buy anything from U. Moreover, they have a unique shipping address located in California.
This could be a great way to start using and spending Bitcoin for purchases and international commerce. Expedia teamed up with Coinbase to implement this new payment option which has proved a success over the last couple of years. Unfortunately, Bitcoin payment is currently only accepted for hotel bookings. Just like Expedia and Overstock, eGifter is also a partner of Coinbase. You may be familiar with Shopify , a world-renowned e-commerce platform that allows merchants to set up their own online shops and sell goods in a similar way to Amazon, eBay, and other online giants.
In , all Shopify merchants received the option to accept Bitcoin payments with the help of a service called BitPay. This option is only available for merchants using the Shopify platform using services like Coinbase Commerce. CheapAir is an American flight booking service that allows you to pay for flights using a wide range of cryptocurrencies, Bitcoin included. The service allows you to make both domestic and international flight bookings. Currently, Newegg accepts Bitcoin for a decent range of products and services except will call orders, Newegg gift cards, marketplace items, subscription orders, premier memberships, return shipping labels.
Some of the most popular choices for users paying with Bitcoin are hardware parts for computers, as well as mining hardware. Not saying that buying pizza with Bitcoin will result in a similar mistake, but nowadays, you can get your pizza by spending close to 50 cryptocurrencies Bitcoin included at PizzaForCoins. The service acts as a sort of intermediary as it first locates a pizza venture close to your location, and then allows you to order it and pay for it digitally.
Do keep in mind that a small fee for the service is included in the final payment amount. From Reeds Jewelers, you can buy anything from jewelry to premium watches and loose diamonds. To purchase cards from Gyft, you need to have a Coinbase account. More Stamps Global allows you to choose from flights, car rentals, hotel bookings, and all sorts of other traveling packages. The online store is renowned for its creative designs, which can be bought using more than 30 different types of online cryptocurrencies.
One of the companies that added support for Bitcoin is Star Jets International, a private company dealing with business customers that want to have their own private flights in different parts of the world. According to EconoTimes, users can now pay for their flights using Bitcoin, the most popular digital asset in the market.
The customer can easily select the destination and starting airport and enjoy a private flight to arrive on time to an important meeting. Norwegian Air, one of the most important airline companies in Europe announced that it is working on a solution to be able to accept Bitcoin and other cryptocurrencies for the tickets they sell to clients around the world.
As reported by Yahoo Finance, the firm is not only going to be accepting Bitcoin, but it will also be opening its own cryptocurrency exchange. Users that are living in Norway will be able to purchase flights using Bitcoin in a fast and secure way. The firm operates a fleet of aircraft with routes around the world. With cryptocurrency payments, it is possible to reduce costs for companies related to their credit and debit card operations. With Bitcoin and other digital assets, it is possible to reduce the fees paid by companies and start offering cheaper tickets as well.
Garbarino Viajes, an Argentine company selling flight and hotel tickets, informed that users are now able to purchase for these products and services using Bitcoin. Their official report says that Bitcoin is a currency that allows users to exchange goods and services and that has many benefits compared to fiat currencies.