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howzar
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February 12, 2014, 08:17:39 PM |
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this is great and all but bitcoin sales here seem to have slowed significantly since the first few days
Agreed, mostly because of the mt gox fiasco |
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hilariousandco
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February 12, 2014, 08:20:07 PM |
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I didn't know they are holding some of their acquired Bitcoins. That is even bigger news. Any gain (i.e. difference between value of BTC at time of sale and time of report) is reported separately. Since they are a publicly traded company they will have to report it. That would be a first. If it becomes large enough it might even become its own line item in the quarterly and annual reports.
Are they? I'm not sure if the company is, but the CEO himself holds a lot. |
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hellscabane
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February 12, 2014, 08:31:06 PM |
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I didn't know they are holding some of their acquired Bitcoins. That is even bigger news. Any gain (i.e. difference between value of BTC at time of sale and time of report) is reported separately. Since they are a publicly traded company they will have to report it. That would be a first. If it becomes large enough it might even become its own line item in the quarterly and annual reports.
I hadn't seen any news about this. If this is the case though, I'd be very intrigued to see how this is reported in their financials. And I wonder what BTC sales and holding BTC would fall under in their EBITDA. |
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Lauda
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February 12, 2014, 09:42:42 PM |
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But bitcoin have droped almost 20% in this month
You must be new here. and his understanding must be low. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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DeathAndTaxes
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Gerald Davis
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February 12, 2014, 09:45:21 PM |
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Are they? I'm not sure if the company is, but the CEO himself holds a lot.
I hadn't seen any news about this. If this is the case though, I'd be very intrigued to see how this is reported in their financials. And I wonder what BTC sales and holding BTC would fall under in their EBITDA. Um  it is in the article that this thread is about. Overstock’s recent decision to keep some bitcoin on its balance sheets could also find the company playing the role of newsmaker once again. Byrne suggested that should Overstock be holding bitcoins at the time of its upcoming first-quarter fiscal reporting, it will likely be required to report this action to the tax authorities.
“That’s an issue that the sec and the accounting wizards have not opined yet, so we could be the test case.”
Byrne indicated that he has already been contacted by several outside accounting firms that have voiced an interest in being part of this process. The agencies, he said, are interested in participating because it could set a precedent for how publicly traded bitcoin merchants will need to disclose such holdings. |
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jongameson
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February 12, 2014, 10:55:23 PM |
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speaking of which, who wants a creepy Chinese USB fan that makes noises after the 3rd day |
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calian
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February 12, 2014, 10:55:46 PM |
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Have they started allowing non-US buyers to pay with bitcoin yet? Seems crazy to accept the global internet money but only from people in the country of PayPal.
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hellscabane
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February 12, 2014, 11:45:57 PM |
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Are they? I'm not sure if the company is, but the CEO himself holds a lot.
I hadn't seen any news about this. If this is the case though, I'd be very intrigued to see how this is reported in their financials. And I wonder what BTC sales and holding BTC would fall under in their EBITDA. Um it is in the article that this thread is about. Overstock’s recent decision to keep some bitcoin on its balance sheets could also find the company playing the role of newsmaker once again. Byrne suggested that should Overstock be holding bitcoins at the time of its upcoming first-quarter fiscal reporting, it will likely be required to report this action to the tax authorities.
“That’s an issue that the sec and the accounting wizards have not opined yet, so we could be the test case.”
Byrne indicated that he has already been contacted by several outside accounting firms that have voiced an interest in being part of this process. The agencies, he said, are interested in participating because it could set a precedent for how publicly traded bitcoin merchants will need to disclose such holdings. My apologies, I should have been clearer. I didn't interpret this as saying that Overstock would be holding through the fiscal quarter. That's when things would get interesting. The article saying that "should Overstock be holding" at the the quarter meant to me that they weren't sure what road they were definitely be taking. I will be following to see what decisions will be made and what precedents will be taken. This is really exciting times! |
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bryant.coleman
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February 13, 2014, 08:46:36 AM |
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Overstock guys will be unhappy with the recent price dip.
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yatsey87
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February 13, 2014, 12:18:37 PM |
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Have they started allowing non-US buyers to pay with bitcoin yet? Seems crazy to accept the global internet money but only from people in the country of PayPal.
Nope, not yet. Or at least not in the UK but they said this was coming soon. |
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dissident
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February 13, 2014, 12:30:12 PM |
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Intel 6 core haswell processors are competitively priced there. If I had profited on bitcoin I'd be building a new rig "just for the heck of it" while donating and old one to my sister.
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Lauda
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February 13, 2014, 12:55:53 PM |
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Overstock guys will be unhappy with the recent price dip.
If they are instantly converting to USD then no, otherwise yes. But, if they have enough knowledge and patience, they will know that it will be worth their while, keeping the bitcoins. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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El Dude
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February 13, 2014, 01:41:05 PM |
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now start accepting Litecoin overstock!
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Bitcoin and Litecoin hodler
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miketonic
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February 13, 2014, 01:47:17 PM |
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now start accepting Litecoin overstock!
I think that at this point accepting multiple cryptocurrencies would just confuse people. I don't see any reason for them to start accepting Litecoin aswell. Right now it's just important to make BTC better known and more used. |
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LiteCoinGuy
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February 13, 2014, 02:25:55 PM |
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overstock is bitcoins best friend. nice to have them!
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DoctorOz
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February 13, 2014, 02:51:02 PM |
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Super for Overstock.... hoping to see soon more ways in which I can enjoy my bitties...
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yatsey87
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February 13, 2014, 05:48:50 PM |
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now start accepting Litecoin overstock!
I don't think there's any need really, although give them time. Accepting BTC was a big gamble and they're still testing the waters with it. |
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knight22
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--------------->¿?
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February 13, 2014, 06:03:33 PM |
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http://www.americanbanker.com/bankthink/lawsky-processes-bitcoin-the-idea-that-is-after-hearing-1065330-1.htmlOver the previous 24 hours, he'd heard from virtual currency entrepreneurs and investors optimistic about the technology's prospects; law enforcement officials fearful about its potential to facilitate illegal activities; and a national merchant – Overstock.com, represented by Executive Vice Chairman Jonathan Johnson – which is accepting Bitcoin payments and plans to encourage its suppliers to do so, too.
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BittBurger
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February 13, 2014, 06:12:22 PM |
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This is great news.
I haven't read this thread yet but the article I saw stated that the CEO plans to start holding coins, and is looking into ways to pay salaries and vendors in BTC.
So all those concerns about big companies hurting BTC by cashing out to Fiat immediately, are gone in this case.
-B-
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hilariousandco
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February 13, 2014, 06:27:22 PM |
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This is great news.
I haven't read this thread yet but the article I saw stated that the CEO plans to start holding coins, and is looking into ways to pay salaries and vendors in BTC.
So all those concerns about big companies hurting BTC by cashing out to Fiat immediately, are gone in this case.
-B-
He already holds a shitload. There's a great in-depth article on him over in the press section. |
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