[2014-06-22] 3% of Overstock Bitcoin Profits to Be Used to Spread Bitcoin Adopti

[erono]

http://www.cryptocoinsnews.com/news/3-overstock-bitcoin-profits-used-spread-bitcoin-adoption/2014/06/22

Overstock CEO Patrick Byrne delivered the keynote address at Saturday’s Bitcoin in the Beltway conference. He spoke a lot about the past, but he also talked about Bitcoin’s future. Specifically, Byrne announced a timetable for international Overstock Bitcoin payments and revealed a plan to donate 3% of all Overstock Bitcoin payments to organizations working to promote cryptocurrency around the world.

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[CoinMode]

http://www.cryptocoinsnews.com/news/3-overstock-bitcoin-profits-used-spread-bitcoin-adoption/2014/06/22

Overstock CEO Patrick Byrne delivered the keynote address at Saturday’s Bitcoin in the Beltway conference. He spoke a lot about the past, but he also talked about Bitcoin’s future. Specifically, Byrne announced a timetable for international Overstock Bitcoin payments and revealed a plan to donate 3% of all Overstock Bitcoin payments to organizations working to promote cryptocurrency around the world.

He will be a hero of our time.

[beetcoin]

so nice to see a successful businessperson who is not all about fucking people over. i'm guessing he's offering 3% because that's how much he saves without having to use the normal mediums (like visa).

[bryant.coleman]

so nice to see a successful businessperson who is not all about fucking people over. i'm guessing he's offering 3% because that's how much he saves without having to use the normal mediums (like visa).

He saves only 1% using Bitcoin. Visa / Master charges a discounted fee of 2% on Overstock, while Bitpay charges 0.99%. So it is just 1.01% and not 3%.

Considering that monthly Bitcoin sales in Overstock stands at some $250,000, every month Overstock might be spending some $7,500 for spreading the message of Bitcoin (give-aways, promotions?).