One step closer to legitimacy: Bitcoin payment live on Overstock

Overstock accepts Bitcoin

While it's legal to pay with Bitcoin in the US, the digital currency hasn't been very useful for mainstream shoppers. However, that's changing today -- Overstock has just become the first major American online retailer to accept Bitcoin. You'll still see prices listed in old-fashioned dollars, but you can choose the newer payment method at checkout. CEO Patrick Byrne tells Wired that he made the move for both pragmatic and idealistic reasons: Bitcoin doesn't cost as much to accept compared to credit cards or PayPal, and its nationless nature reduces the chances that a failed bank or country will create problems. It's tough to tell whether other big e-retailers will follow suit, but we can't imagine that competing shops will want to leave that much virtual money on the table.