<story><title>Buy Newegg gear using Bitcoin</title><url>http://bitspend.com/</url></story><parent_chain></parent_chain><comment><author>phamilton</author><text>Here&apos;s my theory (from right field) on where the free lunch is coming from:&lt;p&gt;Bitspend is a hosting company that has invested a lot of extra rack space into mining equipment.  They see the giant bubble brewing and have realized that bitcoin needs some legs to stand on.  If bitcoin survives, Bitspend&apos;s mining operation makes a huge profit.  If it crashes, they lose a lot.  So giving people an easy way to use bitcoin as an actual currency rather than a speculative investment has a huge long term benefit for them.&lt;p&gt;Whether my theory is true or not, I think many other heavy mining operations would benefit through similar services.  If there are any other big miners out there, I hope you see the value you can add to your investment by doing things like bitspend.</text></comment>
<story><title>Buy Newegg gear using Bitcoin</title><url>http://bitspend.com/</url></story><parent_chain></parent_chain><comment><author>sdkmvx</author><text>It&apos;s interesting to see that this guy wants to transfer BTC -&amp;#62; USD in the form of Newegg shipments, but I have yet to see anyone major accept Bitcoins directly.&lt;p&gt;Newegg has something of useful value (like a hard drive). Both BTC and USD have no useful value in this sense. The actual item 1 USD is simply a piece of cotton-paper with ink on it. A BTC is a mathematical hash. Nobody major with useful objects accepts BTCs. They accept USDs.&lt;p&gt;I would think that most people trading Bitcoins are just trading it. The price goes up and up because everyone is just buying and buying so they can sell before it goes back down. At some point, enough people are going to randomly decide they&apos;re done and sell at the same time, and the transfer price will go all the way to (near) zero. I haven&apos;t seen many people actively trying to make a real economy out of it. That&apos;s why I have no confidence in Bitcoin.</text></comment>