My Bitcoin mining venture is chugging along.  The biggest mystery was going to be how to convert my BTCs into cash.  Back in March or so I discovered that Overstock.com now accepts payment in the form of BTC.  They use an external service and essentially receive and then immediately sell the BTC you send them.

I decided to give it a try.  All my machines are Macs and I wanted a PC to tool around with for games and what not.  I found one on Overstock and put it in my shopping cart.  At checkout I chose to pay with Bitcoin.  It was at that point where it popped up a window stating I have 10 minutes to send my payment to a specific address.  I went to my Bitcoin client (Bitcoin-Qt) and sent the payment.  It took about a minute but the pop window went away and I received a notice that my payment was received.  One week later a new PC was at my doorstep.

My son’s 5th birthday was last week and we decided that he was going to be one of those power-wheel cars.  We wanted one the Mercedes SUVs but they were $400+ dollars.  Found the car on Overstock and with a coupon we got it for $320 and were able to pay with it from my Bitcoin fund.

So I have already made back my investment of cash for BTC mining in gifts and products.  Very cool…..