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Online retailer Overstock.com accept Bitcoin

2014-03-21  |  Comebuy News

The American online retailer Overstock.com claims first his industry offers the virtual currency of Bitcoin as payment method. Earlier, online service providers such as mega and WordPress, drug traffickers or extortionists also accepted payments, however with Bitcoin.

Nevertheless, Overstock.com CEO Patrick M. Byrne is celebrating his company's decision as "historic" and explains his interest with a liberal stance: "I find that appealing, because I like restrained government and no government bureaucrat can think of such a form of money." At the same time, he calls Bitcoin "the world's most widely used Kryptowährung".

To realize, Overstock.com has launched a partnership with Coinbase.com, a start-up in San Francisco, which is specialized on Bitcoin transactions and operates also as currency exchange. Bitcoin is now in the shop as one of several payment methods available - in addition to all major credit cards and digital services such as PayPal or V.me.

Overstock.com is located in the U.S. State of Utah. As the name suggests, it sells remaining stock. The product categories ranging from furniture and clothing promises the site visitors from Germany to computers or DVDs. right entrance low shipping costs.

The 2009 designed currency Bitcoin has attracted interest in recent months not only because of the massive price increases. Their legal status, remains unclear but what goes around with the question, whether on Bitcoin sales taxes payable. Bank of America sees Bitcoin as potentially significant number method, while China prohibits trade with Bitcoin its banks and warns the European banking supervision.

[with material by Rachel King, ZDNet.com]

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