Overstock.com CEO Hopes Bitcoin Will Destroy Central Banking
Dr Patrick Byrne, CEO of Overstock.com, sure loves Bitcoin. It's unsurprising, seeing as his company has seen massive Bitcoin transactions since Overstock began accepting Bitcoin a few weeks ago with over $100,000 in sales. But in a recent interview with conservative news outlet Rare, Byrne discusses his views on Bitcoin and counters Paul Krugman's assertion that "Bitcoin is Evil". https://api.soundcloud.com/tracks/129661708. Byrne doesn't beat around the bush. He dives right in with one of the first things he says being, "[Krugman] went crazy about a decade ago, more than a decade." Byrne....
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Everyone would like to see Overstock succeed because they accept Bitcoin. This past year, they did around $3 million in Bitcoin sales. Some say this was less than the projected $8 million. But then, the price of Bitcoin hovered around $600 for awhile, and now it's around $300, so potentially this estimation was made in anticipation of future prices. Also read: Overstock to Donate 4% of Bitcoin Revenue to Organizations Promoting Bitcoin Adoption. The Cool Thing About Bitcoin. In a recent video, Byrne expresses a deep regard for cryptocurrencies largely because they are not centralized, and....
On Monday, Overstock CEO Patrick Byrne announced the online retailer had hired two Counterparty developers to build a decentralized stock exchange to issue corporate stock for Overstock and other companies. Byrne confirmed the exchange, code-named "Medici," would operate atop the Counterparty platform. This news caused the XCP price to soar (XCP is the native currency for the Counterparty platform). Also Read: Overstock to Donate 4% of Bitcoin Revenue to Organizations Promoting Bitcoin Adoption. Overstock Announces Decentralized Stock Exchange. Overstock CEO Patrick Byrne's announcement of....
Crypto to prevail over the traditional financial system, instead, competing industries started to adopt each other's technologies and cooperate. The year 2022 is here, and banks and the traditional banking system remain alive despite decades of threatening predictions made by crypto enthusiasts. The only endgame that happened— a new Ethereum 2.0 roadmap that Vitalik Buterin posted at the end of last year. Even though with this roadmap the crypto industry would change for the better, 2021 showed us that crypto didn't destroy or damage the central banks just like traditional banking didn't....
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....
Overstock revealed Friday it invested $4 million into a blockchain-forward financial technology firm in the Caribbean. The announcement, made in Barbados and attended by principals from the island’s company Bitt and Overstock, enters in a big move by Overstock into the space. It’s involvement had largely been focused on innovation through its t0 project. “A major impediment to economic advancement around the world is the fact that the vast majority of humans are unbanked,” Overstock Chief Executive Patrick Byrne said. “Yet mobile penetration in some countries exceeds 100 percent. Bitt has....