overstock bitcoin sales

him to become regular spenders, but that's already happening. 10) : Byrne tweets that Overstock pulled in 780 Bitcoin sales worth 127,000 in 21 hours. "The PR wasn't the driving force here. As I recall, its been that way since about September. "On January 1st, our people said they could do it within 10 days if I gave them enough people says Byrne.

In stores in Geneva you could pull Swiss francs, Euros, or pounds out of your wallet and pay. They knocked it out in less than 10 days. "When I was saying we'd be accepting Bitcoin within 6 months, I thought that would be it he says. But all were uploading real funds, and many are interested in regularly spending their bitcoins, not just hoarding them in the hopes that their value with continue to rise. If someone else changes bitcoins into dollars first then, sure, it will take bitcoins. The team was mainly engineers, but also included "customer care, graphic artists, a lawyer, the tax man, and our returns guy says Byrne. Overstock could have a bitcoin account, and pay people and vendors in bitcoin, regardless of whether people want to buy stuff from Overstock using their bitcoins. It uses that bitcoin account to pay employees and vendors who want bitcoins. The site took the Internet by surprise Thursday by moving its Bitcoin deadline up radically: it's accepting Bitcoin as of today. Byrne says the company's rough estimate is that 1 of its sales in 2014, or approximately 13 million, will come in the form of Bitcoin. That's not an enormous haul, but judging from the company's yearly revenue, it could be as much as 4 percent of its average daily sales, and it shows there's a vibrant bitcoin community that's interested not only in using the digital currency as an investment. The fact that Overstock has decided to take 10 percent of its daily sales in bitcoins and fund a bitcoin account doesnt change the point of the article eithercontrary to one tweet on the article.