Bitcoin Mania Hits Craigslist: Sellers Can Now Use Cryptocurrency As Method Of Payment

Anyone keeping track can add Craigslist to the list of companies getting involved in Bitcoin mania, as the online marketplace recently began allowing sellers the ability to indicate that they will accept cryptocurrency when advertising goods or services through the online marketplace. 

The change was noticed by a Reddit user on Thursday in the "posting details" section of the Craigslist seller's page, right next to the "include "more ads by this user" link" box. Yes - now anyone can accept cold, hard, digital currency for their coveted Beanie Baby collection, exercise equipment clothing racks, or suspiciously expensive massage services.

Craigslist joins a growing number of companies adopting cryptocurrency options for their customers, including online gaming platform Steam, Overstock.com, Tesla, Newegg, Microsoft, and Virgin Galactic - where just $15 bitcoins (at $16,429/BTC) will eventually buy a $250,000 trip into space next year.

Three weeks ago Twitter founder Jack Dorsey's credit card processing venture, Square, announced that they were exploring adding Bitcoin to their platform - causing the cryptocurrency to surge in response. 

“...We’ve found that [customers] are interested in using the Cash App to buy Bitcoin,” the company said in a statement.

 

We're exploring how Square can make this experience faster and easier, and have rolled out this feature to a small number of Cash App customers. We believe cryptocurrency can greatly impact the ability of individuals to participate in the global financial system and we're excited to learn more here.

And just yesterday we reported that the world's largest online seller of gold, Apmex, is now accepting Bitcoin. From the company's statement: 
For more than 15 years, APMEX has been an industry leader and along the way has adapted to the growing needs of our customer base. As bitcoin becomes more popular and widely accepted as payment, we are thrilled to welcome the use of this cryptocurrency for buying Gold, Silver and other Precious Metals by integrating BitPay into our website.
It will be interesting to see how buyers and sellers using cryptos get along if this wild intra-day volatility continues, as things like Bitcoin, Etherium, and now 'CryptoKitties,' are not just a medium of exchange - but a short-term, and extremely aggressive directional bet.

Comments

JoJo Kracko eforce Sat, 12/09/2017 - 00:55 Permalink

Would it be fairly accurate to say that there are 13 million bitcoins in existence today?   At $17,000 per coin, that implies that the existing coins are worth $221 billion US dollars.  How high can we reasonably expect the value of a bitcoin to go? Assuming 10? years from now we have 20 million of the possible 21 million in existence, could they be worth $50,000 per coin?  $100,000 per coin?  $1 million per coin? 20,000,000 x $50,000 = $1 trillion 20,000,000 x $100,000 = $2 trillion 20,000,000 x $1,000,000 = $20 trillion  I should point out that there is only $7.6 trillion worth of coins and bank notes in the world today.  If Bitcoin were to replace ALL of the circulated money used in the whole world today, there would be no need for it to be worth more than $7.6 trillion dollars.  If we can accept this, lets put a top cap on the value of what Bitcoin can logically max out at.  7.6T / 20M = $380,000 per bitcoin.    This would of course require every country in the whole world to adopt it to replace their own currencies, and would require every country to also ban the use of any other digital coin offering as a currency. If you are thinking bitcoin could be a replacement for gold, well there is less than $7.6 trillion worth of gold that has ever been mined, if we use a $1250/oz USD value.   Is it a currency?  Is it a store of value?   Will it replace both?   Will it even be the dominant alt-coin in a year or two?   Draw your own conclusions.

In reply to by eforce

Tom Green Swedish JoJo Kracko Sat, 12/09/2017 - 02:06 Permalink

It will never come close. wealth is mostly meaures in real eatae and stocks not currency. Nobody holds cash. Its has crap negative returns. How can bitcoin not? It theoretically nothing, just something someone might accept as a form of payment. Which is illegal. It is not legal tender anywhere. And honeslty bitcoin isnt much of an assset. Just an fyi household wealth in the usa is somewhere near 97 trillion. You cant do anything with bitcoin. Its totally useless besides as a mechnism for trade. And besides Anybody with $800 dollars can print money for free with an Asic.

In reply to by JoJo Kracko

FactDog JoJo Kracko Sat, 12/09/2017 - 03:13 Permalink

Basic Demand #'s JOJO Krackp $20 Trillion is just over 10% of the fiat investments in the world.    I would go with 1% at a $100K/BTC -- quite possible in 2018. 21 Million total potential BTC EVER in existence( only 16.8 M today)  and  7.0 Billion people.    So let's say the 1% (70 Million) have wanted some  BTC. There you go; the market is made.

In reply to by JoJo Kracko

MagicMoney Fri, 12/08/2017 - 21:16 Permalink

Steam dropped Bitcoin recently by the way. They complained about price volatility and the 20 dollar fees. A fee which you could buy a DLC with or a cheap game.

FakeNewsBandit Bunga Bunga Sat, 12/09/2017 - 06:44 Permalink

finally someone that gets it! Seamless, trustless swaps between btc and ltc will allow us to use ltc as the payment method, it will decimate the alt market! Say goodbye to bcash, for sure. I sold all my bcash when it was 1500 and ltc was about 80, and i first heard about atomic swaps. It's not too late for others to do the same (im looking at you mosely). 

In reply to by Bunga Bunga

HRClinton MagicMoney Fri, 12/08/2017 - 23:31 Permalink

Decided to look at the Top 40 CC Exchanges (CCE). Was disappointed in EVERY ONE OF THEM.They either have IT problems, sign up problems, or do a terrible job of making the activities "Intuitively Transparent" for Novices. Even CoinBase, that HH likes so much, has a major flaw: it's ID validation process is horribly inefficient and buggy, now that traffic is high. It should not take hours or days to validate uploaded IDs and facial selfies. Fail! Bigly!If you want a user-friendly CCE, you can't leave it to programming geeks. You want people with master teaching skills to lay out tbe design, and then use programming jocks to do the coding. 

In reply to by MagicMoney

Endgame Napoleon Normalcy Bias Fri, 12/08/2017 - 23:29 Permalink

Despite the plethora of scam jobs on there, I still say CL has less scammy ads than most of the fake job sites. Which says a lot about the US jobs scene. At least, there are a few, low-paying — but paying — jobs on there once in awhile, whereas other sites often sport job ads that are really advertisements.

Some CL job ads are like that, too, like the ones where you get ready and drive for an hour, only to listen to a sales pitch from a couple, trying to sell their book of business. Wonder if the employers — I mean sellers — will take / pay with Bitcoin for their fake jobs.

In one such interview, I drove to an ultra-rich area of town. After waiting in a plush front office, I was ushered into this barren office with floor-to-ceiling bookshelves with nothing on them except a stack of fliers.

This was supposed to be an insurance office managerial job. I was interviewed by a man claiming to be with one of the major standard insurers. During the course of the interview, he literally launched into a fiery sermon out of the blue.

I noticed that he looked disappointed upon seeing me, and at the end of the interview, I found out why. His job posting had a dual purpose. He was trying, first and foremost, to sell a product for his wife’s pyramid scheme. It was a so-called fat wrap. I obviously did not need this product, so he lost his chance to make a sale.

He then invited me to his house for a seminar about selling this product — Am way-style — for his wife. No, I did not go. He was recruiting for his wife’s pyramid sales racket, which had absolutely nothing to do with the job posting.

In reply to by Normalcy Bias

cherry picker Fri, 12/08/2017 - 21:18 Permalink

Fake newsAs of today, Steam will no longer support Bitcoin as a payment method on our platform due to high fees and volatility in the value of Bitcoin.In the past few months we've seen an increase in the volatility in the value of Bitcoin and a significant increase in the fees to process transactions on the Bitcoin network. For example, transaction fees that are charged to the customer by the Bitcoin network have skyrocketed this year, topping out at close to $20 a transaction last week (compared to roughly $0.20 when we initially enabled Bitcoin). Unfortunately, Valve has no control over the amount of the fee. These fees result in unreasonably high costs for purchasing games when paying with Bitcoin. The high transaction fees cause even greater problems when the value of Bitcoin itself drops dramaticallyhttps://steamcommunity.com/games/593110/announcements/detail/1464096684955433613

slightlyskeptical cherry picker Fri, 12/08/2017 - 23:24 Permalink

"In the past few months we've seen an increase in the volatility in the value of Bitcoin and a significant increase in the fees to process transactions on the Bitcoin network. For example, transaction fees that are charged to the customer by the Bitcoin network have skyrocketed this year, topping out at close to $20 a transaction last week (compared to roughly $0.20 when we initially enabled Bitcoin). Unfortunately, Valve has no control over the amount of the fee. These fees result in unreasonably high costs for purchasing games when paying with Bitcoin. The high transaction fees cause even greater problems when the value of Bitcoin itself drops dramatically"This is the real issue. it is getting very expensive to processbitcoin transactions. As the chains keep getting longer it will cost more and more. 

In reply to by cherry picker

Wrenching Away Bill of Rights Sat, 12/09/2017 - 00:04 Permalink

Agreed. I live in Seattle, the supposed techie hub of the country, and the only other person I know that has any crypto is my brother. And that is because I told him to buy it. I don't hear people talking about it either. Was thinking about putting a sign at the counter of my business that we accept bitcoin for payment, just as an experiment to see if anyone asks about it.

In reply to by Bill of Rights

francis scott … Fri, 12/08/2017 - 21:44 Permalink

YOU DON'T THINK THE PROMOTERS OF BIT COIN - LIKE YELLOWSNOW - WOULD SAY SELLERS OF CRAP WILL ON CRAIGS LIST WILL TAKE BITCOINJUST TO GET HEADLINES LIKE AT ZH?  IT'S A CHARGE OF THE GREATER FOOLS PROMOTION IS PROMOTION IS PROMOTION.  NO MATTER HOW PATHETIC IT IS

Cabreado Fri, 12/08/2017 - 21:53 Permalink

Not to worry... there are no real problems to solve... just get yerself some BTC, and you'll be rich and everything else will fall in line.

Mcguyver Fri, 12/08/2017 - 21:57 Permalink

Started learning about etherium... Pretty amazing stuff. Hope to.see this applied to elections. I feel like if etherium doesnt grt people killed it has to be part of the nwo

Mcguyver Fri, 12/08/2017 - 21:57 Permalink

Started learning about etherium... Pretty amazing stuff. Hope to.see this applied to elections. I feel like if etherium doesnt grt people killed it has to be part of the nwo