Overstock CEO: We’re Now Averaging $15,000 A Day In ...
Overstock To Sell Bitcoin Through Its Website In 2019 With ...
Exclusive: Overstock CEO says bitcoin sales to add 4 cents ...
Overstock CEO: We’re Now Averaging $15,000 A Day In ...
Cryptocurrency Weekly Recap
CheapAir.com appears to have chosen self-hosted payment processor BTCPay for its Bitcoin payments, removing BitPay. The firm stats that
Coinbase is sun-setting their merchant platform next week which has led to a need for an alternative processor. Coinbase mentioned that it would be retiring its merchant processing function in April which the cryptocurrency industry condemned.
Caspian Partners, a cryptocurrency portfolio and risk management platform announced a partnership with Bitmex. Caspian customers will now have a unified trading module with more liquidity. The firm provides order and execution management system (OEMS), risk management system (RMS), and a portfolio management system (PMS).
US transportation company Norfolk Southern Corp (NSC) revealed it is joining the Blockchain in Transport Alliance (BITA) in a company announcement yesterday. The BITA association formed in 2017 and aims to develop blockchain applications to the transport and logistics industries. BITA also includes organizations like FedEx (FDX), Uber, UPS (UPS) and GE Transportation.
Thailand’s largest bank has joined a trade finance program utilizing R3’s Corda distributed ledger technology (DLT). R3 is a consortium of over 200 companies that uses technology on blockchain to allow businesses to develop applications on top of its Corda platform.
The Bank of China will use blockchain technology to alleviate poverty in the Tibet Autonomous Region, a province with a poverty rate of 12.4%. The Bank of China has developed a cloud-based system to manage a local poverty reduction fund in the past. The bank has decided to upgrade the existing system with blockchain technology and set up a multi-node blockchain network to connect with their partners like the Agricultural Bank of China
A Czech Republic utility company will begin accepting payments in cryptocurrencies. Pražská Plynárenská is one of the major suppliers of natural gas in the Czech Republic. In June it will establish a payment payment gateway which will transfer bitcoin payments into fiat currency.
A recent study by the Warwick Business School claims that investor sentiment is driving cryptocurrency prices. The study analyzed the top 14 cryptocurrencies based on market capitalization. The primary conclusion was that hype and emotions played the most significant role in determining whether the price of a cryptocurrency rises or falls.
Bitcoin Gold (BTG) has suffered from a 51% attack resulting in a loss USD$17.5mm. The 51% attack permitted double spending to occur. According to the Bitcoin Gold (BTG) team, exchanges have been targeted rather than individual users.
South Africa’s Reserve Bank has chose to call cryptocurrencies “cyber-tokens” because they don’t meet the requirements of money.
In Colombia, two Bitcoin Cash (BCH) proponents have developed a payment processor called Bitek.co. The company offers merchants processing with payable invoices and accounting services as the Bitek platform provides merchants with the ability to accept BCH and covert all or a percentage of the funds into Colombian pesos.
Employees in Ukraine were recently caught using the police department’s resources for four months to mine Bitcoin. In April, mining equipment was found in the office of the Communications Deparment which include eight graphics cards, six power units, two hard drives, a motherboard and a complete system.
VeChain (VEN), a Shanghai-based blockchain startup is testing a blockchain application which verifies a wine supply chain and fights counterfeits. The Chinese wine industry is worth USD$2.8bn and reportedly the Chinese consume wine that is not authentic which as weakened public trust in the quality of the product.
Ireland has clarified taxation on the cryptocurrency space. In terms of direct taxes: corporation tax, income tax and capital gains tax are all applicable, but each case should be reviewed separately.
Barcelona will create a blockchain center in the city’s tech hub. The location will be next to Barcelona Tech City which opened in the Summer of 2016 and will most likely be occupied by Spanish blockchain network Alastria.
Bitfury-backed Hut 8 Mining Group mined more than 800 bitcoins in the first quarter of 2018. The company raised CAD$70mm to continue investing in hardware and generated nearly CAD$11mm in revenue.
Commerzbank and multinational conglomerate Thyssenkrupp have successfully conducted an FX transaction on a blockchain platform. Thyssenkrupp transferred 500,000 euros in an exchange rate between the euro and the Polish zloty at some point in future.
Surkus has raised USD$10mm in Series B funding led by EOS global, a USD$200mm venture fund formed earlier this year. The venture fund is making its first investment and it aims to leverage the EOSIO blockchain to catalyze the transformation of the digital assets space.
CoTrader is introducing a decentralized fund management platform that includes cryptocurrency. CoTrader is a blockchain trading platform and it plans to disrupt investment funds to become the world’s largest outlet for all assets.
The Deutsche Boerse, owner of the Frankfurt Stock Exchange is considering offering cryptocurrency products according to a report. A move into the crypto space may not be immediate as Jeffrey Tessler, the firm’s head of clients, said the firm must “make sure we understand the underlying transaction which isn’t the easiest thing to do”.
Two Russian financial institutions are set to test a regulatory platform that aims to make domestic initial coin offerings (ICOs) more transparent and secure for traditional investors. The Russian National Settlement Depository (NSD) announced on Thursday that it is working with Sberbank CIB, to test an ICO issuance platform launched by the Bank of Russia.
The US Department of Justice has reportedly launched a criminal investigation into cryptocurrency traders who may have manipulated the market with old-school illicit tactics, such as spoofing. The investigation is also being conducted with the Commodity and Futures Trading Commission (CFTC).
American Express is exploring using blockchain technology to increase security for both users and merchants. The firm is exploring an identity wallet and whether blockchain can be used.
Russian State Duma has approved its first reading of a legislation package that regulates crypto-related matters and activities. The legal texts will open the way for legalization of cryptocurrencies in the Russian Federation, including their exchange and circulation under certain conditions.
Revolut, a British based company that created the first app to allow customers to invest in Bitcoin, has announced it will be adding Ripple (XRP) and Bitcoin Cash (BCH) to its platform. Revolut began as an app allowing users to transfer fiat currencies, but now has four cryptocurrencies on its platform.
Banks are losing international payments business. Banks have lost 40% of market share for consumer-to-consumer (C2C) cross border payments to non-banks over the last year. Banks have also lost 30% of the consumer-to-business (C2B) and 5% of the business-to-business (B2B) payments market over the last year.
Japanese IT giant, GMO Internet is set to roll out the world’s first bitcoin mining device based on 7nm chips within the year. The firm is launching a new B2 miner on June 6 with mass production to follow and shipment starting by the end of October.
Coinbase has acquired a service called Paradex, a cryptocurrency trading service that lets users trade many digital tokens on a decentralized exchange. The exchange relies on smart contracts to allow users to trade tokens without a centralized authority to record the transactions on a blockchain.
Money Forward, Japan’s most popular personal budgeting app, is launching a crypto asset exchange this year. The firm plans to launch a crypto media platform by Summer followed by an exchange and the construction of a digital asset remittance and settlement system.
The Marshal Islands have replaced the USD$ with its own cryptocurrency. The bill was signed March first but the news is catching attention this week. US Dollars will still be accepted, yet the nation’s cryptocurrency, the “sovereign” will need to be integrated into the country’s financial system. An initial coin offering will take place and the supply will be capped at 24mm tokens
Bank of America has been awarded a patent to let users access a certain blockchain network known as a distributed validating network. Certain users will be granted permission and data will be stored in blocks in which a system can automate this process.
Singaporean-based virtual social trading platform, TrakInvest is looking to become one of the first Asian-based projects to use Hedera Hashgraph’s distributed ledger technology.
Norway’s central bank is preparing for a future in which it might issue a digital currency due to a drop in usage of cash in the country. The Norges Bank released a report titled “Central Bank Digital Currencies” which highlighted that the bank must consider several new attributes that are important for ensuring an efficient robust payment system
Overstock.com’s Tzero is planning to launch a regulated exchange for security tokens in collaboration with Box Digital Markets. The companies will seek approval from the SEC.
A Spanish Central Bank Governor believes that cryptocurrencies will bring more risk than benefits. Luis Maria Linde said that blockchain offers interesting possibilities but that is not quite mature.
Rural banks in the Philippines are looking to adopt blockchain technology in a bid to improve inclusion for residents. The initiative is led by the Union bank of the Philippines, one of the country’s largest banking institutions.
India is considering taxing cryptocurrency at 18% as ‘intangible property’ according to a report issued today. The report detailed that purchases or sales of cryptocurrencies are considered supply of goods and those facilitating transactions should be treated as services.
Every Capital is launching Australia’s first retail crypto hedge fund with the goal of making crypto assets accessible to every Australian investor. Investors will be able to sign up in a fund that covers a range of cryptocurrencies and initial coin offerings (ICOs).
The Pentagon and Defense department are weighing on whether owning cryptocurrency is problematic for those who already have security clearances and for those individuals requesting government security clearances.
Steemit, the platform of cryptocurrency of Steem (STEEM) has announced they have over 1,000,000 users. The blockchain processes over one million transactions daily. The Steemit.com website receives over 250,000 unique visitors every day
CheapAir.com adds Litecoin (LTC) Dash (DASH) and Bitcoin Cash (BCH) to its payment options for travelers. The firm first begin accepting cryptocurrency by agreeing to receive payments in Bitcoin (BTC) back in 2013.
The Monetary Authority of Singapore (MAS), is proposing changes to existing regulations that would ease market entry for blockchain-based and decentralized exchanges. According to a paper published yesterday, the MAS states that the single tier “recognized market operators” regulatory framework cannot meet the demand for new business models based on such emerging technologies.
Chilean President, Mario Marcel has recently made comments in favor of developing a regulatory apparatus for virtual currencies. This openness contrasts the country’s recent banking embargo targeting cryptocurrencies in Chile.
MIT is demoing a use case for bitcoin’s lightning network – how the cryptocurrency can be combined with smart contracts to not only handle millions of transactions, but also with more complexity. Verge (XVG) has experienced its second hack in less than two months.
Executives are citing a DDoS attack which is giving its blockchain a serious delay. The attack has lasted more than a few hours and has resulted in over 35mm XVG tokens being stolen. CoinGate, a payment gateway for cryptocurrencies, is planning to launch
Bitcoin Lightning Network payments on its platform. The company serves over 4,000 merchants globally and will allow companies to accept bitcoin and altcoin payments which can be transferred in BTC, EUR€ or USD$ as payouts.
The Ontario Securities Commission (OSC) is cracking down on unlicensed companies involved in the cryptocurrency space. Companies that the Commission is targeting include investment and trading companies.
A bank in Argentina could soon become the first in the world to begin using Bitcoin for customers’ international remittances. Banco Mansventas (BMV) partnered with local blockchain financial services firm Bitex and are looking to move away from the SWIFT clearing network which has seen multiple failures and security problems in recent years.
Payments startup, Circle has launched the full version of its crypto investment app. After a soft launch, the company has rolled out an investment focused app and one of the features is a “Buy the Market” tool for new cryptocurrency investors.
China Central Television (CCTV) has said that domestic initial coin offerings (ICOs) are still rampant despite a 2017 ban. The network went on to discuss that “air coins”, or token projects that are not backed by legally registered business entities have increased by 30x since the ICO crackdown.
A new crypto teller machine is now operational in Johannesburg, South Africa. The ATM supports several digital coins and joins a growing number of terminals offering automated crypto-fiat exchange services in the country and across the continent.
Japan’s largest bank, Mitsubishi UFJ Financial Group (MUFG) is partnering with Akamai to handle up to 1mm transactions per second using blockchain technology. The platform will confirm transactions within 2 seconds or less and batches of transactions will adhere to the same schedule.
Lawmakers in Taiwan are forming a new parliamentary group aimed to foster the growth of the nation’s emerging blockchain sector. The group will be called the Taiwan Parliamentary Coalition for Blockchain (TPCB).
The Bitcoin community is celebrating the 8th anniversary of the “Bitcoin Pizza Day” which is a celebratory day of a Pizza purchased with Bitcoin. On today’s date 8 years ago, Bitcoin was trading at $.0004 and Laszio Hanyecz purchased two pizzas from Papa John’s for USD$41 using 10,000 BTC
Ohio may become the latest US state to legally recognize smart contracts and records stored on a blockchain. The Senate Bill 300, amends sections of the Uniform Electronic Transactions act and will include blockchain records and smart contracts as electronic records.
Virtuse, a Singaporean cryptocurrency exchange, is connecting crypto markets with global financial assets, commodities, government emission allowances and stock indices to eliminate the middlemen and provide transparency to the financial sector.
The US Commodity Futures Trading Commission (CFTC) has issued an advisory statement for listing virtual currency derivative products. The director of the Division of Market Oversight (DMO) has said that the CFTC staff will seek to provide additional guidance to help market participants keep pace with innovation while complying with CFTC regulations.
American aviation company TapJets is considering adding Ripple (XRP) and Litecoin (LTC) to its fleet of payment options. The company inquired about which cryptocurrencies to add via a Twitter poll, and 57,000 users voted.
Spain’s financial regulator has clarified its position on regulated investment funds investing directly in cryptocurrencies. The regulatory body stated that an investment fund registered with the countries National Securities Market Commission can make investments in cryptocurrencies.
Blockchain startup ShareRing is developing a mobile application to consolidate sharing services worldwide. The sharing economy is currently valued at over USD$100bn according to Brookings.
Polish Finance Ministry is rolling back a cryptocurrency tax and is making promises to provide smarter regulation. The ministry will be conducting an “in-depth analysis” of the crypto space to create better regulation and taxation policies going forward.
Walmart has submitted a patent application to track items the store sells to customers. The proposed system would allow a customer to register the item after it is purchased.
TradingView, a software website that many cryptocurrency traders use just raised USD$37mm in funding which was led by Insight Venture Partners. Currently the company receives 75% of its revenues from monthly subscription plans that offer more charts, data and real-time server-side alerts
A “cryptosweep” was launched today in the US and Canada by a group of securities regulators. Nearly 70 inquiries and investigations, and 45 pending or completed enforcement actions will be taken, although it is unclear when the related enforcement actions will be publicly announced
The team behind Parity Technologies have announced they are shutting down PICOPS, a service used by ICO campaigns to comply with regulations by validating that the owner of an Ethereum wallet has already passed an ID background check.
The Australian Competition and Consumer Commission (ACCC) has shown in a report that crypto related fraud made up a tiny percent of scam activity in 2017. Of the 200,000 scams reporting, only 0.61% of the financial claims made were crypto related – USD$2.1mm
LMAX Exchange Group is setting up the first cryptocurrency exchange for institutional clients. The group will focus on liquid established cryptocurrencies which include: Bitcoin (BTC), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH).
Former OKEx cryptocurrency exchange CEO, Chris Lee, is now joining rival cryptocurrency exchange Huobi. In a public note, Lee suggested that OKCoin has experienced notable turnover in senior executives over the past few years which may have affected his decision.
Nearly 40% of all Chinese blockchain startups emerged in 2017, according to China’s Ministry of Industry and Information Technology. The report highlighted that China currently has 456 startups focused on blockchain technology development as part of their core business.
Japan Cryptocurrency exchange Coincheck will delist Monero and three other privacy coins from Coincheck, one of the country’s most popular exchanges. Japan’s Financial Services Agency (FSA) believes that users have too much anonymity with these cryptocurrencies.
Bankex Smart Justice is bringing arbitration to blockchain technology. If users are in disagreement, Bankex claims the firms technology can help users settle
Thomas Lee owns up to his failed prediction of Bitcoin (BTC) rising ahead of Blockchain week. In a note to clients before Consensus 2018, Lee predicted that Bitcoin (BTC) would surge anywhere from 10-70% yet during the week, the price of Bitcoin (BTC) fell
Saw this today and it reminded me... What Litecoin really needs next to achieve the next stage of growth is a US based payment processor who can handle payments and sweep them to fiat each day... as BitPay/Coinbase do for merchants. Anyone know if there is a US based Litecoin equivalent in the pipeline, or would BitPay/Coinbase consider opening up their operation to Litecoin too? Edit: As mentioned in comments below, we DO have GoCoin, but AFAIK they are based in Singapore. There's nothing wrong with being based outside USA of course, but as someone who is based outside USA myself, I think it just adds one more friction point for corporate America.
New website *Current website is messy and chaotic. The layout is totally off. *The free MSC giveaway is hidden at the bottom of the page. It needs a prime location. *The Get Wallet and Go Trading buttons are deeply confusing and take you to different websites after couple of clicks. *Updates takes you to the MSC blog only but on MSC forum there's also a section with all the recent Skype conversations. This section should be accessible from the main page. Turn Updates to News and add another tab for the Skype conversations, say Latest DevTalk. *whole thing looks like a 30 minutes rush job *consider budgeting at least $500 and outsource the creation of a decent web page to someone who does web design for a living. Marketing *Mastercoin didn't have the luxury of having the free PR the enlisting of Let's Talk Bitcoin show as a LTBcoin provided Counterparty. All the successful coins had a decent marketing presence, Counterparty included. Mastercoin needs much better marketing and promotion. *marketing was poor to non-existent. Person who was running it did it part time and had some serious conflicts of interest *speaking at conventions alone is not marketing. *contract an agency to handle this or a charismatic evangelist who does this for a living (Judith won't cut it for several reasons). *last tweet is 7 days old. There needs to be way more engagement on social media. *most voted thread in /bitcoin reddit about Mastercoin speaks volumes about the lack of marketing presence *do some regular video podcasts with or without guests *consider replacing Judith with an English native speaker, who's younger and charismatic, engaged and really understands the crypto space. Judith is probably Ron's or someone's relative from Israel but there should be no place for nepotism here. You need someone who lives in the US, UK, Asia (Singapore, HK) and can easily access events and do some serious promotion work for you. Since on this topic, someone please tell Judith to use a spellchecker when writing blog entries and to remove that awful twitter profile picture. "Dear Masterminds I feel tha it is time to take a deep breath and make some overview." http://bitcoinagile.com/29F480/master-protocol-is-a-great-platform-to-facilitate-new-innovative-ideas-by-judith-bizdev-at-the-mastercoin-foundation-bitcoin "Make some overview?" Someone needs to learn correct word usage. "I feel tha" Say what? Damage Control *the marketing department should also be in charge of damage control. On several occasions MSC was trashed by competitors who presented a bunch of lies when it mattered the most and there was no one from Mastercoin to combat them. When the Overstock CEO asked which platform was the best, some competitor created an elaborate presentation that highlighted the advantages of their own platform while undermining Mastercoin with a bunch of lies and nonsense. It was pitched as coming from impartial "community" person. There was no one from Mastercoin to counter that. Why the hell not? Q&As on Reddit *consider doing some. They are highly affective. Giveaway fund for promotional purposes *consider setting up a giveaway fund and someone to handle that. NXT had such fund for "swarms". A way to reward community for engaging in promotional efforts. For eg NXT rewarded each community member a certain amount of NXT coins for posting positive comments whenever NXT came up in various articles and discussions. Dedicated full time coders *hire only dedicated full time coders. I believe you are already on the right track in this area but you need to keep your eye on the ball here. *no part timers and slackers please. This has to be a big no no. *1 dedicated full time heart and soul coder is worth a dozen part timer slackers Someone in charge *David Johnston is juggling too many different plates like BitAngels and he's more into VC stuff. He can't be an effective leader with the eyes on the ball for this very this reason. *Someone needs to constantly check stuff and if things get done properly. David isn't doing that and I think he knows it. He's too busy reading VC articles about how to pitch a project and how to defeat ISIS. *there needs to be a suitable replacement for Ron Delay outsourcing of code *check the model Darkcoin used. It's highly effective. They have delayed outsourcing the code to allow for community to jump on-board, not to give unworthy copycats the chance to suck by trolling their projects the very next day. Delaying outsourcing is effective way of reducing trolling and cannibalizing, diluting your own community by pushing it in the arms of the competition. *communists are free to move to N Korea, China or Cuba where they just copy and steal tech blueprints. People have put their money into your project. Show your backers some respect for a change.
Summary of the last two days: Russia wants to issue a currency on Ethereum. A representative of China's central bank thinks that Ethereum is of national interest. Singapore wants to issue a currency on Ethereum. (221 points, 44 comments)
"Great minds discuss ideas; average minds discuss events; small minds discuss people." can we please stop this culture of bashing or lifting cults of personality and get back to science? (807 points, 143 comments)
Just paid 23 cents on a $3.74 transaction. When does it end? $1.00 per transaction? $2? $5? I don't wanna stop using this peer to peer currency, but I'm fast being priced out of it. (896 points, 1017 comments)
340 points: Vaultoro's comment in Just paid 23 cents on a $3.74 transaction. When does it end? $1.00 per transaction? $2? $5? I don't wanna stop using this peer to peer currency, but I'm fast being priced out of it.
323 points: jamesdpitley's comment in "R.I.P. Bitcoin. It's Time to Move On"....funny billboard driving around in Miami
Hi everybody, we are from Huobi.com! Welcome to check our weekly summary of the latest virtual currency related events to provide you the comprehensive perspective to know the industry. Now let’s review what important news happened last week! Bitcoin:
Spendabit, the new spend bitcoin section of Bitcoin.com, has been launched. Promising it will work as the bridge between bitcoin users and more 2.5 million products across the globe. This new platform will let bitcoin holders to acquire products from different reputable merchants as Rakuten and Overstock.
Storj was launched two days after Microsoft announced its inclusion in the Azure BaaS download manager. The project aims to offer a decentralized alternative to cloud file storage services like Dropbox. Storj has created a system where other users can host sliced-up and encrypted chunks of data, in exchange for the native cryptocurrency, StorjcoinX.
Retail Giant, Overstock.com, Inc., plans to publicly offer digital securities to be recorded to a distributed blockchain ledger. Overstock’s CEO announced that the securities offered will trade on T0's platform (Overstock fintech subsidiary). In December 2015 the SEC gave the firm the ability to issue digital shares in a public offering on a distributed ledger.
Interest groups focused on bitcoin, blockchain and digital assets gathered to create the Global Blockchain Forum, which aims to promote communication between its stakeholders; consistency of the public policies; and conduction of research to support the development of such policies. The group’s supporters include Digital Currency Associations from US, UK, Australia and Singapore.
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Now Accepting Bitcoin New Age Media Management, a New York City-based management firm, is betting on Bitcoin, and plans to accept the crypto-currency beginning March 14. Though some might question the move given Bitcoin's current spate of bad press, New Age founder Adam Lopez has no qualms about taking the crypto-currency, which is unregulated, has no central bank and has fluctuated wildly since the first Bitcoins were issued about five years ago. "It's breaking into a lot of merchant circles very quickly and we wanted to be the first in the entertainment space to accept it," Lopez told Pollstar. "No one has really come forward saying they'll accept this for everything from artist commissions to consultation payments to anything we deal with across the board. "We pride ourselves on being very tech forward. This is something our team has been researching for eight months to a year - watching prices, the stock as it rises and falls, and we felt like right now, despite it getting a little bad press recently, was the right time to make it public." The bad press stems from news that one of the most prominent exchanges for Bitcoin trading - the Japan-based Mt. Gox - announced it was filing for bankruptcy last month after about 850,000 Bitcoins valued at more than $400 million disappeared from its digital coffers. In a news conference, Mt. Gox CEO Mark Karpelès explained the exchange had been hacked, and "there was some weakness in the system, and the Bitcoins have disappeared. I apologize for causing trouble," he said, according to the Wall Street Journal. Another Bitcoin bank, Flexcoin, called it quits March 2, announcing on its site, "Flexcoin was attacked and robbed of all coins in the hot wallet. The attacker made off with 896 BTC. . As Flexcoin does not have the resources, assets, or otherwise to come back from this loss, we are closing our doors immediately." Elsewhere, Autumn Radtke, the CEO for virtual currency exchange First Meta, was found dead in her Singapore home in what's been reported as an apparent suicide. Bitcoin has taken hits previously. After the FBI shut down online black-market site Silk Road in October 2013, seizing 144,000 Bitcoins, the value of the crypto-currency plummeted. It has since recovered and many have called for increased regulations, which Lopez thinks could eventually help legitimize the virtual currency. But it's also going to take buy-in from huge e-commerce companies such as the Amazons of the world before Bitcoin might gain wide acceptance. New Age Media Management's interest was piqued through the entertainment investment space and its dealings with venture capitalists. "You have the Winklevoss twins, people like Fred Wilson, and Google ventures who have all invested $30 or $35 million apiece into this venture," Lopez said, adding it's important to separate the currency from the technology as they're investing in "the technology of it. That's really where the money is - investing in the technology of this being accepted and getting merchants on board." Overstock.com is one such merchant. The company announced in January it would accept the virtual currency and said March 4 it expects Bitcoin sales to reach $10 million or $15 million this year, up from the $5 million it had expected, the WSJ reported. Richard Branson's Virgin Galactic has also backed Bitcoin for its commercial space flights. The Winklevoss twins, coincidentally, announced March 5 they'd booked their Virgin Galactic flights using the crypto-currency. Aside from the potential investment aspects of Bitcoin, Lopez noted his company could save thousands on fees by accepting the virtual currency. "The transaction fees are incredibly lower," he said. "Sometimes you'll have a 3 or 4 percent transaction fee if you go through somebody like PayPal or a credit card where as with Bitcoin you're looking at something like half a percent. That makes all the difference when you're doing transactions in the tens of thousands of dollars and saves you that much more money." It's an idea that makes sense, and just one reason Lopez is so confident about accepting the crypto-currency. "Bitcoin is definitely in the infancy stages so it's going to fluctuate a lot in price and in interest but we feel like a lot of our artists and the VCs we work with are very excited about the concept," he said. -Dana Parker-McClain
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Overstock.com Inc's sales through bitcoin are expected to add 4 cents per share to its earnings this year, the online retailer's chief executive, Patrick Byrne, told Reuters. Bitcoin sales at Overstock , which started accepting this type of currency Jonathan Johnson serves as CEO of Overstock.com, Inc. and president of Medici Ventures Inc. In these dual roles, Johnson oversees and sets the direction for both Overstock Retail and Medici Ventures, Overstock's subsidiary focused on using blockchain technology to democratize capital, eliminate frictional middlemen and re-humanize commerce. Overstock Overstock.com CEO Patrick Byrne says Bitcoin holders have boosted his company’s bottom line as a reward for his decision earlier this year to become the first major retailer to accept the digital currency. Reached by phone by Business Insider Tuesday, Byrne confirmed a report from Reuters’ Last month, in a letter to shareholders, CEO Patrick M. Byrne announced that Saum Noursalehi, formerly president of Overstock.com will assume the role of CEO of tZERO. To facilitate Saum's appointment as CEO of tZERO, Byrne is giving up the tZERO CEO title and assuming the role of tZERO Executive Chairman. t0.com, Inc. ("tZERO") is a majority owned subsidiary of Overstock.com, focusing on the ... Jumpin’ ju-ju beans this is interesting. During a live broadcast on Fox Business the CEO of Overstock Inc, Patrick Byrne, explained the earlier announcement of why he was resigning as CEO from the company he created.. According to Patrick Byrne, due to an earlier relationship relating to Wall Street and assisting federal officials with an investigation therein, he was approached in/around ...
Patrick M. Byrne CEO of OVERSTOCK.COM talks BITCOIN
Overstock.com CEO Patrick Byrne discusses his outlook for bitcoin and holiday shopping. Patrick M. Byrne CEO of OVERSTOCK.COM talks about Bitcoin going up in value Learn about Bitconnect: https://goo.gl/71kFZQ TWITTER: https://twitter.com/Crypto... Overstock.com CEO Patrick Byrne on the online retailer's blockchain business. Overstock.com's CEO Wants To Undermine Wall Street With The Tech Behind Bitcoin (HBO) - Duration: 7:30. VICE News 70,981 views CEO of Overstock, Patrick Byrne, talks with me at Porcfest about the financial system, and what he believes should be the government's role in bitcoin. This ...