Overstock Bitcoin Refund – Positive report 247 Bitcoin

Overstock Bitcoin Refund - Positive report

Hi guys, just wanted to quickly share an experience I just had.
Made a significant purchase >$1000 on Overstock.com, saw the Bitcoin payment option, and though "why not?" I'm an enthusiast and it seemed like a good idea to make my first true blue bitcoin transaction for goods/service.

As soon as I shipped the Bitcoin, a red screen came up saying: There was a problem with your order, it has been cancelled, please call customer service, etc. ....But the bitcoin was gone!

Called them, waited 2 mins, talked to a nice rep who had very little understanding of how bitcoin works. She told me the order was canceled and that I should just re-order and pay with a different method i.e. paypal or cc. I told her that sounded good, except one thing. Bitcoin was sent, and I can't get it back.

She forwarded me to the "pay support" department where they found the transaction, noted it still needed a few more confirmations to issue a refund, and that they would email me with a request for a return bitcoin wallet address later today or tomorrow. About an hour later I received the email.

I shipped them my wallet address, and I received the USD equivalent (at current rates) in bitcoin right away. Thankfully it was within a few bucks of the original payment.

I am very satisfied with the outcome, but it did scare the hell out of me for several minutes.
submitted by Electroniton to Bitcoin [link] [comments]

Overstock.com only refunds bitcoin through Coinbase

In order to receive a refund for a returned purchase you must create a Coinbase.com account otherwise you will have to take in store credit. Centralization at its finest.
submitted by nyjets239 to Bitcoin [link] [comments]

Coinbase bug let Overstock users pay Bitcoin Cash, get refunds in Bitcoin

Coinbase bug let Overstock users pay Bitcoin Cash, get refunds in Bitcoin submitted by bitnewsbot to bitnewsbot [link] [comments]

Coinbase bug let Overstock users pay in Bitcoin Cash, get refunds in Bitcoin

Coinbase bug let Overstock users pay in Bitcoin Cash, get refunds in Bitcoin submitted by Cryptoknowledge to CryptoCurrencies [link] [comments]

Overstock - automatic refund to coinbase? /r/Bitcoin

Overstock - automatic refund to coinbase? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Need help with Overstock/Coinbase refund /r/Bitcoin

Need help with Overstock/Coinbase refund /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Overstock.com only refunds bitcoin through Coinbase /r/Bitcoin

Overstock.com only refunds bitcoin through Coinbase /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Paid on Overstock.com with Circle but was refunded to Coinbase? /r/Bitcoin

Paid on Overstock.com with Circle but was refunded to Coinbase? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin vs. Credit Card Transactions: What's the Difference?

Bitcoin vs. Credit Card Transactions: An Overview

Most people have a credit card they can use to pay for things. But some also have bitcoin at their disposal. Which one should people use, and when, to maximize their assets?

Bitcoin Transactions

Satoshi Nakamoto, the inventor of bitcoin, titled his original white paper on the subject "A Peer-to-Peer Electronic Cash System." This description touches on the core differences between bitcoin and credit card transactions.
Bitcoin payments are analogous to wire transfers or cash transactions, where payment is "pushed" directly from one party to another, without going through another financial institution. Payment processing is executed through a private network of computers, and each transaction is recorded in a blockchain, which is public. Bitcoin is based on peer-to-peer technology and relies on the blockchain and the cryptography securing it, without any third-party oversight.
When making a bitcoin transaction, it is not necessary to provide personal identification, such as your name and address.

Credit Card Transactions

By contrast, credit card transactions entail the buyer effectively authorizing the seller to "pull" a payment from their account, passing through financial intermediaries in the process. For example, a typical Visa transaction involves four parties: the merchant, the acquirer (the financial institution that enables payments to the merchant), the issuer (the cardholder's bank), and the individual cardholder.

Key Differences

Bitcoin transactions are made using an anonymous alphanumeric address, that changes with every transaction, and a private key. Payments can also be made on mobile devices by using quick response (QR) codes.
While credits cards are stored physically in a wallet, bitcoin transactions are sent to and from electronic wallets, which can be stored on your computer, smartphone, or in the cloud.
Bitcoin transactions are irreversible and can only be refunded by the receiving party—a key difference from credit card transactions that can be canceled. This means there are no charge-backs for merchants when taking payment via bitcoin. A charge-back is the demand by a credit-card provider for a retailer to cover the loss on a fraudulent or disputed transaction.
Bitcoin merchants also save on credit card fees that can range anywhere from 0.5% to 5%, plus a 20 to 30 cent flat fee for each transaction made. Bitcoin payments can be sent and received at a very low cost or none at all, as bitcoin fees are based on the amount of data sent.
For merchants, the advantages of receiving bitcoin are obvious. Payments made using the virtual currency save substantially on processing fees and eliminate the risk of charge-backs. For shoppers, the advantages of paying with bitcoin include greater simplicity in placing the transaction, user anonymity, no interruptions from intermediaries, and very low transaction fees. (For example, your account being frozen as a result of a fraud alert).
Credit cards offer important beneficial features, such as the ability to borrow money, protection against fraud, reward points, and vastly wider acceptance among merchants. While a few major retailers, including Overstock.com (OSTK) and Newegg, have started to accept bitcoin, most have yet to make it a payment option. However, using credit cards carries the risk of incurring late fees, interest charges, foreign transaction fees, and potentially adverse effects on your credit score.
submitted by FormerSuggestion8 to Bitcoin [link] [comments]

Bitcoin payments are now live on Overstock.com

If you go to the checkout page on Overstock you'll see an option to pay with Bitcoin!
-edit- For now it's only available on the U.S. checkout but I hear from reliable sources that they will roll it out to international after a bake in period.
submitted by bridge4 to Bitcoin [link] [comments]

Community Alert! Do not trust Overstock.com with crypto payments!

Last week, I bought a $20 polo shirt from their site with Bitcoin just to show my enthusiastic support that they accept crypto. This morning I received an email from them telling me my order has been successfully cancelled. I called their Loss Prevention line to tell them I didn't cancel my order. The customer service rep said they didn't receive my money (even though my wallet shows 416 confirmations). I also don't see my refund in my bitcoin wallet (even though they said they completed that refund back to me).
They put customer service rep "Page" on the phone with me. She said the staff there made a (verbally spoken?) mistake, whereby one staffer told another one that my payment was not received so they prompted the order cancellation on their end. But Page sees now that they did in fact receive my money. Wait; this gets worse.
They apparently don't correctly use the bitcoin payment protocol. That protocol provides them a return address to send a refund to a customer should they choose to conduct a refund. But instead, Page told me I can recover my money at Coinbase with my Coinbase account. I told her I didn't use Coinbase to buy anything and I don't even have a Coinbase account. She said I'll have to open a Coinbase account then so as to begin the process of recovering my bitcoin refund from Overstock.com.
I reminded this Overstock.com customer-facing representative that I did not cancel the order. I do not want to open a Coinbase account to get my Overstock refund due to a mistake introduced by Overstock staff. If saying I'm the victim is too harsh a word, okay, I am the inconvenienced customer that did my part of the transaction and that Overstock failed to see through on their part of the same transaction. I asked Page to take more ownership of the problem than to send the customer on a journey through Coinbase’s customer service channels which is notoriously bad. I told her to involve leadership at Overstock.com if necessary, and to show a good faith effort on their part to make this right. Not this dismissive reply for the customer to embark on an expedition through Coinbase for my precious crypto.
The customer service agent was curt, basically telling me in a monotone voice that Overstock.com will not take accountability for their mistake and ship me the shirt while chasing down the payment they erroneously sent away to Coinbase. Even when I warned her the harm to Overstock.com’s reputation this will cause when I tell my story to the crypto-currency communities, Page seems to believe the financial cost of a brand that can’t be trusted is not as expensive as eating the cost of just $20 dollars to send me the shirt she concedes I did pay for.
I reasserted to her my prerogative that I should not open a new account with another company that I don’t want to do business with to recover my money from a transaction mishap done by Overstock.com. She said she’ll try to get the money back from Coinbase themselves instead of putting this work on me. She said, and I quote, “It’s a 50/50 chance we’ll get that money back from Coinbase we sent them”. She said it may take a couple of business days before they have any news for me whether they could do it and, if successful, it may be over a week before I get either my money back or get that polo shirt I paid for.
What a pain in the ass! Hey, Overstock.com CEO Patrick M. Byrne, are you seeing this?!? Surely you care more than Page about your staff damaging your business’s brand reputation, right? Make this right. If you do, I’ll circle back here and let everyone in this community know that you stepped in and expedited quality customer care.
submitted by mkuraja to Bitcoin [link] [comments]

Positive Overstock.com Order Cancellation Experience

I placed an order on Overstock.com yesterday but it was cancelled due to lack of inventory. They called me and asked how I would like a refund.
They had three options: store credit, coinbase or btc address. If refunding btc, they said I had the option of refunding the exact btc amount I originally sent OR an adjusted amount based on the current price. Very painless. As I was writing this, I just received the btc in my coinbase account. Sad they had to cancel my order but impressed with how they handled it.
submitted by itodd to Bitcoin [link] [comments]

Community Alert! Do not trust Overstock.com with crypto payments!

Last week, I bought a $20 polo shirt from their site with Bitcoin just to show my enthusiastic support that they accept crypto. This morning I received an email from them telling me my order has been successfully cancelled. I called their Loss Prevention line to tell them I didn't cancel my order. The customer service rep said they didn't receive my money (even though my wallet shows 416 confirmations). I also don't see my refund in my bitcoin wallet (even though they said they completed that refund back to me).
They put customer service rep "Page" on the phone with me. She said the staff there made a (verbally spoken?) mistake, whereby one staffer told another one that my payment was not received so they prompted the order cancellation on their end. But Page sees now that they did in fact receive my money. Wait; this gets worse.
They apparently don't correctly use the bitcoin payment protocol. That protocol provides them a return address to send a refund to a customer should they choose to conduct a refund. But instead, Page told me I can recover my money at Coinbase with my Coinbase account. I told her I didn't use Coinbase to buy anything and I don't even have a Coinbase account. She said I'll have to open a Coinbase account then so as to begin the process of recovering my bitcoin refund from Overstock.com.
I reminded this Overstock.com customer-facing representative that I did not cancel the order. I do not want to open a Coinbase account to get my Overstock refund due to a mistake introduced by Overstock staff. If saying I'm the victim is too harsh a word, okay, I am the inconvenienced customer that did my part of the transaction and that Overstock failed to see through on their part of the same transaction. I asked Page to take more ownership of the problem than to send the customer on a journey through Coinbase’s customer service channels which is notoriously bad. I told her to involve leadership at Overstock.com if necessary, and to show a good faith effort on their part to make this right. Not this dismissive reply for the customer to embark on an expedition through Coinbase for my precious crypto.
The customer service agent was curt, basically telling me in a monotone voice that Overstock.com will not take accountability for their mistake and ship me the shirt while chasing down the payment they erroneously sent away to Coinbase. Even when I warned her the harm to Overstock.com’s reputation this will cause when I tell my story to the crypto-currency communities, Page seems to believe the financial cost of a brand that can’t be trusted is not as expensive as eating the cost of just $20 dollars to send me the shirt she concedes I did pay for.
I reasserted to her my prerogative that I should not open a new account with another company that I don’t want to do business with to recover my money from a transaction mishap done by Overstock.com. She said she’ll try to get the money back from Coinbase themselves instead of putting this work on me. She said, and I quote, “It’s a 50/50 chance we’ll get that money back from Coinbase we sent them”. She said it may take a couple of business days before they have any news for me whether they could do it and, if successful, it may be over a week before I get either my money back or get that polo shirt I paid for.
What a pain in the ass! Hey, Overstock.com CEO Patrick M. Byrne, are you seeing this?!? Surely you care more than Page about your staff damaging your business’s brand reputation, right? Make this right. If you do, I’ll circle back here and let everyone in this community know that you stepped in and expedited quality customer care.
submitted by mkuraja to CryptoCurrency [link] [comments]

Purchased boots from OVERSTOCK using BTC, then had to return item, the return experience was free and a SHEER JOY =)) Going to YELP them in a big way. I can't believe how smooth the transactions was from begging to end. USE OVERSTOCK, they rule....

Purchased boots from OVERSTOCK using BTC, then had to return item, the return experience was free and a SHEER JOY =)) Going to YELP them in a big way. I can't believe how smooth the transactions was from begging to end. USE OVERSTOCK, they rule.... submitted by jgyles7 to Bitcoin [link] [comments]

Coinbase Bug Allowed BCH to be sent in place of BTC

Coinbase Bug Allowed BCH to be sent in place of BTC submitted by FerriestaPatronum to btc [link] [comments]

Overstock.com order bought with Bitcoin received and damaged!

This was my 1st order on overstock.com with bitcoin. The transaction was smooth and quick. I received the TV not 35 mins ago. took it out to test it and BAM damaged screen. That's the bad news. So I called them up and talked to a Mike C one of their North American reps. It took about 30 mins due to the fact that i paid in bitcoin. It turns out that their system wanted to place a 20 day hold on the replacement because of the bitcoin payment. I am the first person who paid in BTC to file for a replacement. Mike did not know why, neither did his supervisor...both pleasant to talk with. They worked it out and are sending out a replacement. so yay! Also they could not stop talking about happy they are that people are paying in Bitcoin.
TL:DR Bitcoin is still new to overstock.com but it looks like they are handling it well. Mike C is a great rep and loves the concept of BTC...as well does all of Overstock.com. So spend those BTC, that's what keeps Bitcoin strong.
submitted by Dracenduria to Bitcoin [link] [comments]

Overstock Bitcoin Payment active 6 months early!

Overstock Bitcoin Payment active 6 months early! submitted by terradyn to Bitcoin [link] [comments]

Overstock.com sells $10,000 worth of goods in the first hour in Bitcoin

That's about $90,000,000 a year assuming no growth, not bad eh?
Edit: This is also US only for the time being, international coming soon.
submitted by schifosa to Bitcoin [link] [comments]

Wtf is this bullshit Overstock??

Well wtf is this? I don't have coinbase and don't plan on signing up for it. I just paid $24 for a screwdriver set, and instantly after I sent the coins to the address, it gives me this message!...
http://imgur.com/wTTw3rC
submitted by bluementhol2273 to Bitcoin [link] [comments]

Community Alert! Do not trust Overstock.com with crypto payments! /r/BitcoinMarkets

Community Alert! Do not trust Overstock.com with crypto payments! /BitcoinMarkets submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

Overstock.com lost my payment and no one is of any help.

Pretty simple. Purchased about 75 bucks worth of golf, fishing, and attire from overstock.com. When I submitted the payment with Bitcoin, the amount was less than the items because the coin dipped so slightly. So I had to send another payment of just around 50¢. A day goes by and I get a confirmation from their crypto account stating they received enough funds to complete my order. However overstock says they can complete my order and have issued a refund but I haven't seen the Bitcoin transferred into my account. Getting pretty pissed with this because coinbase told me to contact overstock and overstock told.me to contact coinbase. Has anyone been involved with this because it's pretty disheartening that no one knows where my money went.. that's in advance for the help.
submitted by Bagboye to Bitcoin [link] [comments]

[Update] Let us see how Overstock handles payment problems with bitcoin

So I posted this yesterday and today I received an email back. Although it took a day to get a response, they worked everything out and refunded my bitcoins to my coinbase account. I was very pleased with the service and am extremely excited for other retailers to start accepting bitcoin!
submitted by ggreen129 to Bitcoin [link] [comments]

Coinbase & Overstock go International, Bitcoin to replace USD, Minecraft may sell to Microsoft Judd Bagley of Overstock.com - Overstock.com's CEO Wants To Undermine Wall Street With ... Everything you need to know about Overstock's ICO, tZERO / T0 Bitcoin returns outperformed gold and stocks - YouTube

Overstock Bitcoin Refund – Positive report. Posted on February 21, 2019 by 247 Bitcoin. 24 7 Bitcoin. Bitcoin News Search. 1 News -24 7 News -24 7 Bitcoin -1 Search. Search for: Hi guys, just wanted to quickly share an experience I just had. Made a significant purchase >$1000 on Overstock.com, saw the Bitcoin payment option, and though "why not?" I'm an enthusiast and it seemed like a good ... A refund will be issued for the full USD value of the order and processed at the Bitcoin exchange rate when the refund is completed. Your refund will be issued through Coinbase using the email address listed on your Overstock.com account. If you do not have a Coinbase account, you will receive an email outlining how to create an account and claim your refund. If you fail to retrieve your funds ... Online retailer Overstock suffered from a serious glitch that made it possible to pay Bitcoin prices with Bitcoin Cash – but it was all Coinbase's fault. What was potentially more damaging to the firm is the fact that, upon cancellation of the order, Overstock processed the refund in bitcoin. Currently, ... Overstock claimed to have made $3 million worth of Bitcoin sales in 2014 [12]. These Payment Processors are attractive due to their ability to convert bitcoins into at currency instantly which removes the risk involved in Bitcoin’s price volatility on behalf of the merchant. Both Payment Processors and all merchants are recommended to follow the community accepted BIP70: Payment Protocol ...

[index] [49488] [20607] [24838] [48252] [45287] [30136] [14274] [49004] [31827] [37642]

Coinbase & Overstock go International, Bitcoin to replace USD, Minecraft may sell to Microsoft

This video is unavailable. Watch Queue Queue. Watch Queue Queue This video is unavailable. Watch Queue Queue Patrick Byrne is the founder and CEO of popular deal site Overstock.com. He also has a doctorate in philosophy and a survivalist ranch where he could ride ou... Overstock.com CEO Patrick Byrne talks with CNN's Zain Asher about the potential strengths of bitcoin during a dollar crisis. Judd Bagley the Communcations Director of Overstock.com gives us insight on Overstock's emerging block chain technology and the overall Bitcoin marketplace. ...

#