Newegg Jumps On The Bitcoin Bandwagon

Online tech retail giant, Newegg, now accepts Bitcoin as payment. Bitcoin will now be an option in the regular list of payment methods. Newegg features an introductory page including a helpful video from weusecoins.

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Newegg’s not the first tech retailer to accept Bitcoin. TigerDirect got in on the game earlier this year and even went as far as suggesting AMD GPUs and Butterfly Labs dedicated ASIC miners. In the UK, SCAN also started accepting the cryptocurrency. And this is just in the tech world, the list goes on and on.

Every time a new outlet starts accepting Bitcoins, a miner gains their wings. But isn’t corporate adoption of Bitcoin sort of counter-intuitive to the decentralization and anonymity of it all? We know that these retailers are just turning around and slinging the crypto-currencies back through a reseller, and it’s not exactly an anonymous purchase if your address and contact information are required for your purchase. With each passing day, Bitcoin seems to be splitting apart at the seams from what it was originally intended to be.

 

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  • John P. Myers

    I can meet you in an alley and buy a crack rock from you using cash, completely anonymously. I can do the same with bitcoin.

    I can walk into Home Depot and buy a new refrigerator and pay with cash, but in that case they’d also need my name and address to deliver it to me, same as Newegg does. There’s no difference. Restricting bitcoin to serve as a form of payment only in cases where you want to remain anonymous is a ridiculous idea and would never have naturally happened.

    That’s like saying i can buy an hour with a hooker and pay in cash, but if i try to use that same cash to buy a coke from a store filled with video cameras, i’d be denied.

    • basroil

      The issue with bitcoin isn’t anonymity (despite some idiots high up in governments), since ALL transactions are technically recorded and publicly viewable. The issue is that no government is issuing the currency, nobody controlling it’s worth. And unlike store credit (which likewise is technically anonymous and not government controlled), it is not pegged to any one other currency. The money literally appears from nothing with nobody to blame if it goes bad.

      Just remember how many coins were lost a year ago, without anyone being able to add more to the pool. The main issue with bitcoin in the future will be the lack of resources for it, since you can only mine for it and even then has a theoretical upper “print” limit. People lose things, and bitcoin will eventually just disappear because of it.

      That said, there’s no reason not to accept payment in it if you can use it as real money rather than as an intermediary (use it to buy things from a store and then the store paying it’s own bills with it, rather than just having the store then convert it to another currency)

    • Ben Young

      I honestly just don’t see any advantage beyond anonymity. In fact, most if not all other aspects seem to be a disadvantage. Security flaws, rampant market fluctuation, slow authentication, bothering with conversion to standard currency…why not just use cash at that point?