Bitcoin Payments Go Live At Overstock — Two Quarters Early

[DEAD7]

"Last Tuesday, the company struck a deal to handle Bitcoin payments through a service operated by the suddenly hot San Francisco startup Coinbase, and since then, a team of Overstock engineers has worked almost every waking hour to prepare the site for what is undeniably a key moment in the digital currency’s short history. ... [Overstock CEO] Byrne believes this can ultimately boost the company’s bottom line, but that’s not his only aim. For Byrne, a rather opinionated libertarian who’s unafraid to take his company places others fear to tread, embracing the cryptocurrency is as much a political statement as a business decision. Like so many others, he believes Bitcoin can free the world from the control of big banks and big government. 'It helps us fight the machine,' he says."

 

[Thegospel]

Whose gonna be the coli guinea pig?

 

[Type Username Here]

@DEAD7 , can you start posting links to your sources? Thanks friend.

 

[DEAD7]

@DEAD7 , can you start posting links to your sources? Thanks friend.

link is in the text...

 

[Type Username Here]

link is in the text...

Ok, I now saw it.

Thanks.

 

[unit321]

But what is Overstock going to do with all the bitcoins? They have a fee to pay for every time they want to convert it into cash. That is unless Overstock is going to pay their employees with bitcoin or barter it.

 

[无名的]

But what is Overstock going to do with all the bitcoins? They have a fee to pay for every time they want to convert it into cash. That is unless Overstock is going to pay their employees with bitcoin or barter it.

Coinbase is processing the first million for free and 1% after that.

 

[Domingo Halliburton]

But what is Overstock going to do with all the bitcoins? They have a fee to pay for every time they want to convert it into cash. That is unless Overstock is going to pay their employees with bitcoin or barter it.

they're paying fees already with credit cards. I think the bigger question is the liquidity.

 

[unit321]

Coinbase is processing the first million for free and 1% after that.

Hmm. So, basically, everyone who sells illegal products, like dope, can just buy products from Overstock, not have the IRS track the purchases, and there is no need to prove where the income originally came from. Overstock is going to be exporting tens of thousands of retails goods to Mexico and Colombia.

 

[LordTaskForce]

Invest in made up money brehs. Seriously though, overstock ceo needs to be fired for this. jesus christ

 

[DEAD7]

Invest in made up money brehs. Seriously though, overstock ceo needs to be fired for this. jesus christ

Risk takers like this either end up wealthy or ruined, but only time will tell.

Personally I the decision.

 

[LordTaskForce]

Risk takers like this either end up wealthy or ruined, but only time will tell.

Personally I the decision.

I just want to know what they're going to do with all those bit coins

 

[DEAD7]

I just want to know what they're going to do with all those bit coins

Until the Govt. says no, BTC is basically cash without overhead and will be used as such.

 

[theworldismine13]

Overstock makes $124K from 780 Bitcoin orders a day after giving the cypto-currency a thumbs up
http://venturebeat.com/2014/01/10/overstock-makes-124k-from-780-bitcoin-orders-within-24-hours-of-accepting-it-as-payment/

 

[theworldismine13]

I just want to know what they're going to do with all those bit coins

the article explains that overstock doesnt actually touch the bitcoins, the bitcoins go through coinbase, and then coinbase gives overstock dollars, so coinbase is carrying the risk of flactuations not overstock