Overstock Dangles Rewards For Bitcoin-Friendly Vendors
Overstock hopes to encourage bitcoin use with a range of incentives for vendors who decide to accept payments in the digital currency. Speaking in a podcast at the libertarian Porcupine Freedom Festival, Overstock CEO Patrick Byrne said, "We're going to start giving sort of special deals to the vendors who want to be paid in bitcoin." This could mean offering discounts and favourable terms to vendors selling through the Overstock platform if they start to accept bitcoin, he indicated, adding that the company may also reward those who already accept the digital currency. Notably, Byrne also....
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Online outlet store Overstock.com is to launch a special rewards program that will give bitcoin buyers 1% back in the form of Club O dollars, the company's in-house rewards points. Speaking to CoinDesk, Overstock CEO Patrick Byrne said the scheme is expected to debut in approximately four weeks, although he did not commit to a definitive timeline. The program will not provide an instant discount on orders, but will instead give 1% of the total purchase value back to buyers to be applied to future purchases. Byrne did not provide further details of how the program would work, or whether it....
Overstock.com, a major online retailer accepting bitcoin since January is planning to launch a rewards program for customers who pay in bitcoin. The plan is simple: offer customers who pay in the digital currency 1 percent back of their purchase price as 'Club O' points, which will allow the customer to apply the rewards toward a future purchase. In a statement to CoinDesk, Overstock.com CEO Patrick Byrne said the program is slated to make its debut in approximately four weeks. When I interviewed Patrick Byrne in November of last year, he told me that Overstock was looking to accept....
Some interesting comments coming from Overstock.com CEO Patrick Byrne, as pointed out by CoinDesk. The e-retailer's head honcho took to a podcast at the Porcupine Freedom Festival recently and made statements that anyone in the community would be proud of: "We're going to start giving sort of special deals to the vendors who want to be paid in bitcoin," he said. That is to say, the company is looking to work more closely with businesses that deal with bitcoin. Why? Because Patrick Byrne himself is a huge fan of digital currency. In an interview with me last year, Byrne reiterated that....
Overstock.com under-estimated potential Bitcoin sales. Based in Salt Lake City, Overstock.com surprised retailers and Bitcoin enthusiasts alike when they began accepting Bitcoin for payment on January 9th, roughly five months ahead of their initially stated schedule. Now it seems that their hard work has paid off, as Overstock has now surpassed $1 million in Bitcoin sales, said CEO Patrick Byrne in an interview. While the $1 million pales in comparison to the $1.3 billion of revenue the company brings in, Byrne has also said that instead of converting the bitcoins to dollars, the company....
Speaking to investors during Overstock.com's fourth-quarter earnings call on 30th January, CEO Patrick Byrne revealed he now holds "several million dollars" in bitcoin, having recently invested in the currency. Byrne retracted earlier statements that indicated both he and Overstock would not hold any bitcoin. The outspoken exec further freed his company to hold bitcoin on the call, stating that it is "no longer bound" by previous restrictions. Notably, Byrne echoed statements made by executive vice president Jonathan Johnson at the New York Department of Financial Services (NYDFS) hearings....