If you are looking for a way to spend your hard-earned Bitcoin, take a gander at BitMags.com. BitMags.com is a new website that claims to be the “the first and only escrow-enabled Bitcoin firearms auction website where users can buy and sell guns and related items for Bitcoin.”

According to the site’s FAQ, Bitcoin is the only currency allowed. It will be interesting to see if there are enough Bitcoin users who want to buy & sell firearms online to support the BitMags auction site. At the time of this writing, there appear to be less than 20 auctions currently happening on the site.

One thing to note for anyone selling on the site is that there is a mandatory escrow system in place. The owners of BitMags.com are the absolute arbiters of any dispute. They state specifically:

If there is a problem and the two parties can not reach their own resolution, the BitMags admin will decide the outcome. The admin decision is final.