[2014-08-16] Check Out How Many Overstock Sales Are Done Using Bitcoin

[zakoliverz]

http://moneymorning.com/2014/08/15/check-out-how-many-overstock-sales-are-done-using-bitcoin/

The Utah-headquartered online retailer began accepting the virtual currency as payment for items bought on its website in January. Year to date, the company has booked more than $2 million in sales made with bitcoins.

That amounts to a modest one-quarter of 1% of Overstock's total sales. But, Bitcoin purchase totals tend to be significantly higher than sales paid via more traditional methods of payments, such as credit cards, gift cards, or PayPal. The average size of an Overstock Bitcoin order is $240 compared to $165 for regular purchased items.

[1714991023]

1714991023

[1714991023]

1714991023

[bryant.coleman]

Bitcoin purchases may be only 0.25% of all the Overstock purchases so far, but we should remember that almost all of these purchases came from new customers, who would have otherwise gone to Amazon or similar sites.

[Minor]

I keep seeing this quote:
"Bitcoin sales on Overstock have averaged $15,000 per day, or $300,000 per month. "

Why does Overstock's month only have 20 days?
Is the Internet closed on weekends?

[freedomno1]

I keep seeing this quote:
"Bitcoin sales on Overstock have averaged $15,000 per day, or $300,000 per month. "

Why does Overstock's month only have 20 days?
Is the Internet closed on weekends?

Hmm I read the press article it does seem like weird math

Bitcoin sales on Overstock have averaged $15,000 per day, or $300,000 per month. By the end of 2014, Byrne anticipates Overstock will book $1 million in Bitcoin sales per month. He projects Bitcoin sales of $6 million to $8 million in all of 2014, with the bulk of those sales coming from new customers.

They said average but your right it should be 450,000 per month OR 10,000 per day.

[bitsmichel]

I keep seeing this quote:
"Bitcoin sales on Overstock have averaged $15,000 per day, or $300,000 per month. "

Why does Overstock's month only have 20 days?
Is the Internet closed on weekends?

I think it has been an error by the writer, it's quite a lot of money that was left out of the calculation  
There are a lot of Bitcoin sales on overstock, I wonder how large the bitcoin economy is at present

[LiteCoinGuy]

Bitcoin purchases may be only 0.25% of all the Overstock purchases so far, but we should remember that almost all of these purchases came from new customers, who would have otherwise gone to Amazon or similar sites.

and also bitcoin is tiny. i mean, you cant compare bitcoin payments at this stage with VISA payments.