Overstock.com Considered Accepting Bitcoin But Decided Not to (Yet)
Surely you've heard of Overstock.com. If not, they're the huge online retailer (sort of like Amazon), and they're immensely popular. As it were, the Utah-based company has apparently considered accepting Bitcoin payments at some time, but decided now wasn't quite the right time. The news comes from a New York Times story published Wednesday (the story is about Bitcoin in the mainstream - a highly-suggested read): Patrick M. Byrne, chief executive of the online retailer Overstock.com, said his company was talking about accepting bitcoin, but it decided to pause its plans until legal matters....
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In late October, there was a brief mention of retailer Overstock.com in a New York Times piece that noted the online retailer was considering accepting bitcoin, but decided they would put a hold on that objective (partially due to the fact that bitcoin is still a 'gray area' in terms of financial law). It would appear that Overstock is once again revving their engines on that front, with the company telling newsBTC that they plan to begin accepting bitcoin in the second half of 2014 - making them the first big retailer in the space to do so. The announcement comes directly from....
In a newsbtc.com exclusive, Overstock CEO Patrick Byrne told Eric Calouro of newsBTC in a phone interview that they plan to accept Bitcoin starting in the second half of 2014. This is incredible news considering how large of a retailer Overstock.com is at over $1 billion USD in revenue annually. What's even more promising from the news is that Byrne admitted that the company is still working out the logistics for accepting Bitcoin, but they might not go with Coinbase and/or BitPay. Overstock.com might work independently of Bitcoin payment processors entirely by implementing their own....
This week, we told you about Overstock.com's plans to start accepting bitcoin in 2014. Some more information is coming to light. In a conversation with CoinDesk, Overstock.com CEO Patrick Byrne said that the decision on whether or not to work independently of digital currency payment processors is something that may happen in the next two weeks. "We'll probably be working with the third parties. There are a few different ones that are interested in our business. It makes sense to work with them rather than developing it from scratch," said Byrne. The company will begin accepting bitcoin in....
There are rumors floating around on the Internet stating how Overstock.com would no longer be accepting Bitcoin payments. That is not the case, as the payment method is still listed on their checkout page. Judd Bagley of Overstock has also confirmed the company will keep accepting Bitcoin payments. No Reason To Panic For Overstock.com Users. The confusion started becoming more apparent when one Reddit user posted a screenshot of a chat conversation with one of the Overstock.com representatives. However, this conversation was “from a friend”, and evidence like that always has to be taken....
The price of bitcoin reached $1,000 again today on Japan-based bitcoin exchange Mt. Gox, following the news this week that online retailer Overstock.com had started accepting bitcoin as a payment method. The peak this time around was $1,011 on Mt. Gox. Not a record but surely a notable threshold to surpass once again. The last time it broke through to four digits was back on 5th January amid news that Overstock would embrace bitcoin at some point later in the year - but it turned that around faster than everyone expected. On 7th January, the Gox price reached $1,041.99. Around the same....