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Another Big Acceptance for Bitcoin

 (Image source: nbcbayarea.com)

The online discount retailer Overstock.com, Inc. (NASDAQ:OSTK) will began accepting the virtual currency as payment for products on its site. This will make Overstock the first online retailer to accept the usage of Bitcoin. Overstock will partner with Coinbase, a San Francisco startup that processes payment of Bitcoin. The online discount retailer made the leap for two reasons; its CEO believes in limited government, which Bitcoin is all about and Bitcoin does not come with transaction fees as most credit card transactions do for retailers. Margins look way better under Bitcoin for retailers! The news today comes on top of Zynga Inc (NASDAQ:ZNGA) accepting Bitcoin as a form of payment for some of its popular online games. Bitcoin inches closer to full acceptance.