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Author Topic: OverStock Reported $1.6 Millions in Bitcoin Sales - WOW  (Read 1630 times)
Lethn
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May 29, 2014, 10:52:30 AM
 #21

What we need is fucking international payments, they haven't set anything up for the UK yet or any other European countries that said their support staff did say they were planning on it to me.
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May 29, 2014, 11:02:36 AM
 #22

i just seen the video there

no words just wow Smiley


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JessyMatt
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May 29, 2014, 06:16:50 PM
 #23

i just seen the video there

no words just wow Smiley

Yeah, that video is impressive
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May 29, 2014, 06:39:46 PM
 #24

it's a nice start, but they do over $1 billion in sales a year, so even $10 million is only a drop in the ocean. i'm just hoping bitcoin's integration isn't too burdensome for them, so that they continue to do it.
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May 29, 2014, 07:12:09 PM
 #25

it's a nice start, but they do over $1 billion in sales a year, so even $10 million is only a drop in the ocean. i'm just hoping bitcoin's integration isn't too burdensome for them, so that they continue to do it.
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May 29, 2014, 08:35:25 PM
 #26

wow Shocked
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May 29, 2014, 08:59:15 PM
 #27

Pace has slowed down though at Overstock
What's interesting is that they are retaining 10% of btc and only turning 90% to fiat

DO you have a source for that? Because if they are keeping 10% of the bitcoin as actual bitcoin, and not converting it all to fiat I'd be one happy camper.

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May 29, 2014, 10:20:53 PM
 #28

Number is quite low for the size of the company.


I would have to disagree. For only two months, they've made that amount, not being as big as someone like Amazon.
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May 29, 2014, 11:14:15 PM
 #29

This news means that for the March-May period, the daily combined Bitcoin transaction volumes in Overstock were around $8,000. This comprises less than 1% of the Overstock sales.

First of all, overstock is not all that well known outside of America (at least I personally never heard of it before bitcoin). Even though they do deliver here as well, apperantly.

Second, the percentage of people in the world that use bitcoin is far less than 1% and the total amount of value in bitcoins is not even remotely close to 1% of the total value of all currency in the world. And I'm not even talking about the combined value of gold, silver, platinum, stocks, bonds, oil, etc.

Bitcoin may look big with it's several billion 'market cap' or whatever you call it in bitcoins case, but in reality we are not even a tiny drop in the bucket yet. Which is not at all bad because that only means we have plenty of room left for (exponential) growth.

Considering bitcoin is so small it's a pretty big deal even if overstock would not really miss a couple of thousand dollar a day.
Shallow
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May 30, 2014, 12:45:25 PM
 #30

That's a fairly impressive figure although not that much in the great scheme of things considering bitpay processes around 1 mil daily.

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May 30, 2014, 06:04:29 PM
 #31

Pace has slowed down though at Overstock
What's interesting is that they are retaining 10% of btc and only turning 90% to fiat

DO you have a source for that? Because if they are keeping 10% of the bitcoin as actual bitcoin, and not converting it all to fiat I'd be one happy camper.

If you read the article you will see that Overstock did $1m the first two first two months and $600k to date. I think that first two months are January and February.
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