[2014-05-27] BitPay Processing $1 Million Per Day in Bitcoin Payments

[_smudger_]

http://newsbtc.com/2014/05/27/bitpay-processing-one-million-per-day-bitcoin-payments/

[LiteCoinGuy]

nice to hear, go bitpay go 

[giszmo]

nice to hear, go bitpay go 

Bitpay are the best! And hiring

[bitcoin_bagholder]

Impressive.

Bitpay recently inked this deal in Canada, could be large: http://article.wn.com/view/2014/05/26/Canadian_company_partners_with_BitPay_to_accept_bitcoin/

[bryant.coleman]

Is there any chance to know who are their biggest clients? I have heard that Overstock processes close to $100,000 in Bitcoin payments every day. What about the other big players?

[GenTarkin]

$1m / day?!?!?! thats absolutely fucking insane! I sure hope thats true...

That shoots the myth of people just hoarding ... painfully in the ass!

Go Bitcoin GO!

[howardb]

Is there any chance to know who are their biggest clients? I have heard that Overstock processes close to $100,000 in Bitcoin payments every day. What about the other big players?

I doubt Overstock are doing that, I believe they recently announced they had hit the $1.5 million in TOTAL since they started taking bitcoin.
With 50,000 clients it doesn't take much at each one to hit $1mm/day!

[Rannasha]

The source of this claims is dubious:

Today, the company processes about $1 million worth of bitcoin transactions per day, I’m told by the company.

I'd like to see an official source for the $1M/day number.

[Yeezus]

Is there any chance to know who are their biggest clients? I have heard that Overstock processes close to $100,000 in Bitcoin payments every day. What about the other big players?

I'd imagine they're probably the biggest. Who else could actually be in the running?

[gweedo]

Is there any chance to know who are their biggest clients? I have heard that Overstock processes close to $100,000 in Bitcoin payments every day. What about the other big players?

Most of their clients are private companies so for private companies to release figures isn't really something they do. Overstock is public so at sometime they have to release earnings, so they are doing it in a way that is making buzz for them.

Also overstock is powered by coinbase not bitpay.

[Yeezus]

Is there any chance to know who are their biggest clients? I have heard that Overstock processes close to $100,000 in Bitcoin payments every day. What about the other big players?

Also overstock is powered by coinbase not bitpay.

Oh. I wonder how much Coinbase is dealing with then. Anyone have the figures for them?

[gweedo]

Is there any chance to know who are their biggest clients? I have heard that Overstock processes close to $100,000 in Bitcoin payments every day. What about the other big players?

Also overstock is powered by coinbase not bitpay.

Oh. I wonder how much Coinbase is dealing with then. Anyone have the figures for them?

Bitpay is doing more than coinbase for sure. Coinbase is really quiet about their income so I doubt we will ever know for sure.

[Yeezus]

Wont they have to make the figures public somewhere? I'm sure they can be found out easily enough.

[yatsey87]

Wont they have to make the figures public somewhere? I'm sure they can be found out easily enough.

If coinbase IPOs then yes they have to make it public, but they are private company so they don't have to make it public.

Can you buy shares in any of these payment processors yet? I think it'd be wise to invest in them. It's probably easier to make money off investing in bitcoin infrastructure at the moment.