Bitcoin -

[uncensored-r/CryptoCurrency] Can't use bitcoin on anymore?

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The open modlog reason it was greylisted as reported by /CryptoCurrency was: Section 15C. Removed for not meeting minimum character count.
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[uncensored-r/Bitcoin] Used Bitcoin on Overstock ??

The following post by DimeInPieces is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link: Bitcoin/comments/721hkn
The original post's content was as follows:
I just paid with Bitcoin and it was awesome! I really thought I'd have to copy and paste addresses and use a desktop and all kinds of hoops but it was so easy! It links right to your Coinbase wallet and withdraws the amount. It was every bit as easy as using Paypal. 10/10 would recommend!
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Used Bitcoin on Overstock /r/Bitcoin

Used Bitcoin on Overstock /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Ordering on Overstock just got better.

Hey everyone! I have paid with Bitcoin on Overstock for over a year. They always went through Coinbase, and often the 15 minute window did not work. Resulting in calling customer service to tell them my bitcoin had transferred, and to avoid using Coinbase as a third party. They always eventually found it, and gave me store credit later.
However, this week I bought my girlfriend a birthday gift and they had changed services. It was through coinpayments. Worked so much more smoothly. Just wanted to spread the good news. Anyone have good info on coinpayments beside the .com website?
Edit: spelling
submitted by Bruceleeroy18 to Bitcoin [link] [comments]

Tax on bitcoin spending? (UK)

Does spending bitcoin count as a taxable event in the United Kingdom?
If I were to buy a book and pay in bitcoin on for example.
I have read through a few documents from HMRC from a couple years ago, but I'm still a little puzzled.
I would appreciate an answer on this if anyone has one, thanks.
(also, any extra information on bitcoin and Tax in the UK is definitely welcome)
submitted by throwawayfarawayacc to Bitcoin [link] [comments]

Why I don't spend bitcoins (or use Linux) yet.

At this point, Bitcoin is just like Linux. It's supposedly better than all the competition in every way, but only hardcore nerds understands and use it, it's difficult to obtain if you dont know how, not very compatible with what people already use and most important: It doesn't have a huge marketing plan behind it (Windows: "Everybody uses it and you can do anything with it", Mac: "Be different and cool and unique").
All the cool nerds told me to change from Windows to Linux, and I tried many times. One time I accidentally wiped my whole drive and lost all my files. The last time I tried to make the switch, I was exited the first week, but then changed back to windows so I could play games and be sure that everything accually works the way it should. They say you have more flexibility in Linux, but only if you think learning lots of strange command line strings is fun. I don't. I wanted to use Linux, but it just wasn't easy enough.
Fast forward: Now I use Linux every day without even thinking about it. My Samsung runs Android (built on top of Linux).
What needs to happen with bitcoin is the same thing that needed to happen with Linux: Big (comercially driven) companies must build on top of it and make the experience sexier, easier and more accessible than the current money system.
People say that we need to spend bitcoin more, or that it needs a killer app.
The killer application is already that bitcoin is programmable bits of value you can build things on top of. It can also become a new standard for in-game money like WoW-gold or Linden. You can get rewarded for killing a boss in one game and then spend that value on upgrades in a different game. Imagine a huge treasure hunt in a game like Minecraft, where you can mine out "real" dimonds with real value.
IMO we don't win by spending more bitcoins on, we don't win by educating more people on how to use bitcoins, we don't win by arguing to sceptics about how great it is. We win by finding new ways to build on top of it and making the experience of transferring value seamless and sexy.
Nobody is telling you to stop using your hard core stripped down version of Linux. Nobody is telling you to give up your paperwallets created on a dedicated machine without internet connection. I'm just suggesting that mass adoption will come with ease of use, not education about why the current system is flawed or why bitcoin is superior.
I have a lot of friends who are interested in Bitcoin, and they all say: "I'm reading about this Bitcoin thing, maybe you can come over some day and help me with buying some?" They want to get in on this cool new technology all their smart nerd friends are talking about, but it is too overwhelming for them to understand how to buy it, let alone accually use it.
I for one, welcome our new Circle overlords.
submitted by bitpolar to Bitcoin [link] [comments]

Dumped my LTC stash at 0.0293

Holding BTC, still mining LTC; lets see if I was right to dump...
Day 2 Edit; As I said in the comments yesterday I am looking to hold until LTC/BTC has halved and then possibly reverse the trade.
Day 3 Edit: I've now bet around half the bitcoins against bitcoin!
Day 519. Just spent all of my bitcoins on I bought a lot of rechargeable batteries. I'm out of cryptocurrencies now.
submitted by lawabider to litecoin [link] [comments]

Tech Insider has been active recently!

Title: I spent a day trying to pay for things with bitcoin and a bar of gold
Description: Ray Dalio, the founder of the largest hedge fund in the world, told Henry Blodget that investors should have 5% to 10% of their portfolio in gold. During that same interview, Dalio called bitcoin a "speculative bubble" and said "bitcoin is not an effective medium exchange by and large" and "it's not easy to buy things with the bitcoin." Dalio isn't the only one asking these questions about bitcoin. If bitcoin really is a currency, then it is important that you can buy things with it. But this may not be a fair argument. We all seem to accept gold as a storehold of wealth and as an alternative currency even though you really can't make purchases with gold. So in an effort to fairly compare gold and bitcoin in this vein, we went out into the world to see how easy it was to spend both in everyday transactions. It turns out it isn't easy to spend either. The only person we could find who accepted gold in New York City was Donald Trump in 2011. Bitcoin is slightly easier to spend. We couldn't use our bitcoin at Subway, which is on a few lists of retailers that accept bitcoin. Le Village, a restaurant in New York's East Village that many have reported accepts bitcoin, was closed down when we tried to eat there. But we did have some luck spending bitcoin. We found that it was easy to use bitcoin on Also, my daughter's preschool accepts bitcoin for tuition payments. But if you really want to use bitcoin in everyday transactions, you can get a debit card that allows you to spend bitcoin easily. But maybe we are simply using the wrong words when we talk about bitcoin. As Adam Ludwin, the founder and CEO of Chain, says in his open letter to Jamie Dimon, "since this isn't about cryptocurrencies vs. fiat currencies let's stop using the word currency." He goes on to say that he prefers to think of them as "crypto assets." Read more: FACEBOOK: TWITTER: INSTAGRAM:
YouTube URL:
submitted by Ceranhotplate to YTGamingSociety [link] [comments]

Overstock CEO Patrick Byrne tweeted a documentary I made on him, Bitcoin and the Deep State. Check it out!

Overstock CEO Patrick Byrne tweeted a documentary I made on him, Bitcoin and the Deep State. Check it out! submitted by kinetic_jfig to Bitcoin [link] [comments]

How to bring to new money into Bitcoin? Merchants: pass on your savings from bitcoin to the customer.

And I mean permanently, not just a 10% off promo with an expiration date.
There is a lack of incentive for humans to convert fiat into bitcoin for commerce. The average human obtains bitcoin through Coinbase (1% fee +margin), or localbitcoins (+margin), or Mylecium (+margin), or any other method with fees and margins. It costs money to convert to bitcoin.
There is also no incentive to spend the bitcoin with merchants who accept it. If I buy an item with bitcoin on Overstock, or Newegg, or Tigerdirect, or Expedia, or Dell, the total cost to me is the cost of the item + fees and margin for the original fiat-to-bitcoin conversion. On the other hand, if I buy an item using a credit card, I get 1-5% in credit card rewards. Sometimes even more.
All the hodlers, speculators, and gamblers are already in bitcoin and the market has been stagnant. We need to incentivize new users to come in and current users to spend and convert more. To do that we need holding bitcoin to be beneficial on a daily basis, not just from investment speculation. Let the end consumer realize all the benefits and savings from spending bitcoin over fiat.
Merchants: please pass your savings onto the consumer. Fully discount the overhead amount from bitcoin payments that you would otherwise eat if they were credit card payments. It will not affect your margins, as it would be the same if the customer paid with a credit card. Instead of pocketing the savings, give it to the consumer.
Higher merchant acceptance rates by itself do not bring money into bitcoin. But when combined with savings passed to the consumer, money will then come in. Non-bitcoiners will want in when they can benefit from the 3-6% (or whatever credit card transaction fees are) at any time, and from many merchants. And it will likely snowball by bringing in more new merchants, who will bring in more new consumers converting to bitcoin in order to spend it.
Let's stop waiting around for ETF's which may or may not come, which may bring in investment money but won't do a thing to help everyday commerce. Put aside the investment angle for moment and let's start ramping up the commercial transaction usage of bitcoin instead. Make it worthwhile for people to use bitcoin and people will start converting. And when people start converting, everybody wins. Let's do it now.
TLDR: Merchants should pass savings onto the consumer to fuel new bitcoin adoption.
submitted by askdogey to Bitcoin [link] [comments]

[Table] IAmA: I'm Patrick Byrne, a pro-freedom supporter of cryptocurrency and school vouchers, early critic of Wall Street, three time cancer survivor, journalist at, and CEO and founder of AMA!

Verified? (This bot cannot verify AMAs just yet)
Date: 2014-05-02
Link to submission (Has self-text)
Questions Answers
What would you say to other CEOs and decision makers who are hesitant to utilize bitcoin? It depends upon what their hesitancy is.
There are business reasons to do it: save on transaction fees, eliminate fraud and charebacks, etc. There may be business reasons not to do it as well, such as the risk of volatility (but this concern can be obviated by trading out of Bitcoin immediately upon receipt, a service that the firms like Bitpay, Coinapult, and Coinbase all offer, I believe).
But if they are pro-freedom, they should want to get behind it on principle alone. Ghandi said, "Be the change you wish to see in the world."
Hi Patrick, do you have any thoughts on where the economy is heading? Are we truly in a recovery as the powers that be suggest? Do you have examples you see in business that say one way or the other? No we are not in a recovery. We have re-inflated a bubble and called it a recovery.
The government lies to us about the stats. Think of it this way: assume Alleged GDP (that is, "Nominal GDP") is growing at 3%. Inflation is calcualted to be 2%. So Real GDP is growing 3% - 2% = 1%. That is the basic equation. However, what if they are lying about inflation? Imagine it were really 5%? Then the truth, God's-eye-only view would be 3% - 5% = -2%. That is, if inflation is understated, then growth is overstated. I think this is likely the case. I think we are in a shallow dive that they are trying to make look like a level or small climb. See John Williams' site Shadow Government Statistics for more.
The Fed's policies are all about driving up asset prices (homes, stocks) in order to create a wealth effect. Your 401k goes from being worth $300,000 to $500,000. You think, "Gosh I made $200,000! I'll go out and spend $50,000 of it."
The Snoop Dogg Overstock commercial was awesome! When can we expect to see more ads from him? Thanks. It was even more fun hanging out with the guy for four hours. He is one smaaart dude. He asked me more intelligent questions about our business than any of the 80 or so VCs with whom I ever dealt. No kidding.
Also, he rolls a mean cigar.
Shouldn't the government be spending our tax dollars on putting wall street guys who caused the financial crisis in jail (instead of making them pay fines) ? Not one of them has ever been criminally convicted. But I do think the government should put more resources into policing Wall Street. The last I checked, the SEC budget was about $800 million. I think it was around the size of the budget for the Denver police force. It should be about 10X that. However, they should unplug the SEC and ship it to the DOJ. The only thing that scares these guys on Wall Street is an orange jumpsuit, and only the DOJ can issue those.
Patrick, What was your evolution toward being "pro-freedom" like? Were you always so? Was there some event that turned you in that direction? I grew up in New England and thought of myself as a Yankee Republican. Then the Republicans went crazy getting worked up over things that are none of the government's damn business. The old man with whom i sued to build stone walls in Vermont, Earl Barre, taught me that government should pave the roads, run the Post Office, and stay the hell off my porch. I think he must roll over in his grave to see the kinds of things Republicans care about today.
My friend, mentor, and teacher Milton Friedman used to say, "I'm a small-l libertarian and a small-r republican." Sounds right.
PS Thanks for seizing the term. We have a lot of people in our society who call themselves "progressives". If they can hijack the word "progress" I can hijack the word "freedom".
Hello Patrick, Thank you for doing this. Do you know when will be accepting bitcoin for international shipment? I've been waiting this for months! (I'm in Canada) Working on it now. Phase II was getting so we could issue credits back in Bitcoin. I think it came live last week. Phase III will be accepting it internationally. Should happen late summer +/-.
Hi Patrick! You've gotten a lot of praise for accepting Bitcoin, I think its great. But I'm curious what you've found to be the biggest challenge or drawback with accepting this new form of currency. What is something new merchents need to keep in mind before accepting bitcoin? It has been unbelievably seamless.
Coinbase made it easy. But Bitpay and Coinapult do as well, I hear.
Once integrated, it has not demanded an ounce of effort.
Where do you see Bitcoin in 1 year? What about 5? Or 10? I have no theories as to valuation.
Adoption... I would imagine SpaceCash (of one flavor or another) will gradually increase until you see 2-3% of transactions occur within it. If that day ever comes, it will leap quickly to 15-30%. (Lots of things are like that in life, rates of HIV infection in the adult population being one of them, for example.)
What percentage of transactions (# or revenue) are paid for in Bitcoin on Tiny. <.1%
Did you ever reveal who the "Sith Lord" is??? Inquiring minds want to know! It was an amalgam of two people. 1) Steven A. Cohen of SAC Capital (hence, all my references to "someday I am going to sack up and tell the world...")
2) Michael Milken, who, I believe, is the Hannibal Lecter of the financial world. Read Den of Thieves. Since he was let out of prison (on his 98 count indictment) he spent a lot of money burnishing his image, but he is a really bad guy.
Is naked short selling still a problem? What do you see currently as the biggest risks to our financial system? "Is naked short selling still a problem? " Not so much, or at least, not as obviously as previously.
"What do you see currently as the biggest risks to our financial system?" Chains of title. You think you own something because you have some paperwork that says you do. However, in the central clearing systems of our economy there is slop. The slop was designed in as a way of providing fault tolerance. However, crooks figured out how to game that slop and create circumstances where more than one person thinks he owns the same thing.
Fractional reserve banking without a reserve requirement.
Nice to see you on Reddit, Mr. Byrne. I like Schiff. Opponents say, "Even a broken watch is right twice per day." But he shares my Austrian views.
Here is my question. Peter Schiff and many others think that a collapse of the dollar is imminent. What do you think about that? And what impact this collapse will have on digital currencies like Bitcoin? Yogi Berra said something to the effect, "Anything that cannot go on forever won't." We are living on borrowed time in many ways. However, it is like seeing a bridge built for 10 cars, that now has 80 driving across it. Will it collapse? I have no idea. I thought it would ahve collapsed at 20.
Did you have better experiences at Stanford, Cambridge, or Dartmouth? Which school influenced you the most, both culturally and intellectually? The day I got to Dartmouth I swore to myself that while I was there I would never enter a church, a party, or a fraternity. never did. Never had a single beer with anyone in college, went to a party, anything. I was a total grind. I did play football two years, then split, went to Asia, mucked around, came back just to graduate.
Cambridge - Marshall Fellow - Did a Master's in moral philosophy but was mostly an invalid, and spent my time with a handful of people, just reading for two years. Was in the uber-Lefty envornment of King's College (where the British traitors come from). When I got there I was Left-Curious, but when I split I was into Sowell and Milton Friedman.
Stanford - PhD They were great to me. I was an invalid there as well for much of the experience. Started in mathematical logic, ended up doing stuff in development economics, jurisprudence, and political philosophy. As a grad student my major influences were the other grad students, with whom one forms close bonds. Martin Jones (Oberlin?) and Taylor Carmen (Barnard?). Ask them.
What convinced you to damn the torpedoes and what other examples, successful or not, can you give of this full speed ahead orientation with respect to your life? So that has focused my mind tremendously. Lot of things I want to get done, and none of them have to do with knuckling under to the Combine. In fact, they largely have to do with blowing up the Combine. (Gold star to the first who can say where the expression "Combine" comes from.)
Combine = "Our Benefactors" in the half-life universe. HL3 confirmed! One Flew Over the Cuckoo's Nest.
Organised crime on Wall St -- Can you elaborate? Yes. Wall Street started to be infiltrated by Organized Crime. It sttarted with Michael Steinhardt in the 1970's (his dad, Sol Steinhardt, was the biggest Mob fence in America, and went to Sing Sing, from whence he put his son Michael through Wharton, who then started what was arguably the first hedge fund in 1968, funded over time by cash from his dad's cronies.)
Google "Operation Uptick": the largest Mob arrest in US history was 120 goons from around Wall Street.
The Gambinos and Genovese fought over Wall Street in the 1990s. The Genovese won. Wherever Genovese are, there is Russian Orgnized Crime (the Genovese sponsored the Russian OC into the US like you or I would sponsor a family from Laos). See "Red Mafiya."
Anywhere you see "bucket shops" you are seeing OC.
I also work as an editor and journalist at, which explores this subject in hundreds of posts.
Mr. Byrne, No opinion on such companies.
What is your take on companies that operate solely in Bitcoin (i.e. Blockchain,, etc)? Are you offering your employees to take a percentage of their salary in Bitcoin? Not offering it to employees yet, but there is always the year-end bonus to consider!
Thank you for doing this AMA, and thank you for your activism and conviction you have shown over the years! Hindsight is 20/20, what is one decision that you would make, or wouldnt make, if you had to start all over again? When someone is dishonest, do not try to cajole or coach them. Get rid of him.
Hello patrick first i will like to say thank you for all you do. i have 3 questions 1. who are your favorite philosopher's and what book on philosophy do you recommened for enlightenment? Who are your favorite philosopher's and what book on philosophy do you recommened for enlightenment?
I admire tesla as a person and for his work, have you heard of the keshe foundation? where do you stand on free energy? I admire tesla as a person and for his work, have you heard of the keshe foundation? where do you stand on free energy? NO THOGHTS.
Will the criminal cabal who runs the united corporation of america fail? Will the criminal cabal who runs the united corporation of america fail? I'M WORKING ON IT, I'M WORKING ON IT.
I'm a computer programmer, so I'd like to ask a technical question if it's not a secret - what do you use for source control? Ironically enough: Subversion.
As a successful entrepreneur, what advice would you give to someone just starting up their own (tech) company? Calculate how much capital it is going to take to start your business, and how many years. Then square both those numbers.
I'd like to thank you for the nice red lounge chairs I got from Overstock. I was able to get a good price for them at a garage sale later. My question is how do you ensure a stable inherent value in cryptocurrency? Unlike Gold, which is a tangible thing, or a Federal Reserve Note which has value simply because the government says it does, with something like Bitcoin how can it retain value and trust without some "official" endorsement and tie in to a national currency? - if you DID tie it to something like the dollar.. then what would be the point? Right. Some say that Bitcoin is a figment of someone's imagination. But as I said on Fox or CNN or something recently (search my name on Youtube, you'll find it), I would be happy to debate the metaphysical properties of Bitcoin versus whatever the metaphysical properties are of those 65 billion figments Janet Yellen createde last month.
An opponent would say that those 65 billion figments are backed by the taxing authority of the US government. To which I respond: But if that taxing authority is tapped out (which it obviously is, otherwise we would not be in the fiscal state we are as a country) then those 65 billion things are backed by... nothing. At least there are a limited number of Bitcoin figments!
You have previously mentioned in a interview with Forbes that you are very intersted in a "Bitcoin version of the stock market" and having the ability to conduct more than just simple transactions via a blockchain. I am a bit confused about what you are asking. My fight with Wall Street came about because I became convinced in 2004 that the market's mechanisms for clearing and settling trades had been corrupted by bad elements. It all started there. Hence, the peer-to-peer aspect of Bitcoin et. al. deeply attracats me.
NXT - the first second generation cryptocurrency is doing this with it's new features being launched in the upcoming weeks and months. Have you looked into it and / or considered accepting it for overstock? I do not know NXT, but I am interested in finding (and even potentially investing in) efforts to create a peer-to-peer capital market. In fact, if a good solution emerges, you might even see Overstock be the first issuer of a stock or bond in such a market, just to help things get going! (Incidentally, we were the first to do a Dutch auction IPO, for precisely that reason.)
Clearly bitcoin has the potential to rid the world of much corruption. Have you thought of publicly endorsing it in this manner. Because most people do not understand the countless benefits that this technology has to offer to our society. All our new commercials end with a "Now Accepting Bitcoin" under the logo. Look for them.
Your top executives (Stormy Simon, Johnathan Johnson, Dave Nielsen) make $350K a year in salary, while Amazon pays their around $160K. This information is made public in SEC fillings. How is your executive compensation determined? One must look at cash and non-cash together.
When and from whom have you first heard of Bitcoin, and what was your first reaction? About two years ago I read a short piece about it in Wired, or Fast Company (perhaps). It struck a bell, from my computation studies at Stanford. I was also struck by how it has properties similar to gold's.
Edit: I also want to thank you for pioneering the way with cryptocurrencies and exposing Wallstreet corruption. Your work is very much needed and greatly appreciated! However, I think the crowdfunding movement is spectacular, and might be considered as well.
You mentioned the term bust out in your presentation on Ecomonic Warfare. You taught that an example of this was the S&L crisis. Where do you see the next bust out occurring? I don't know. Wherever you see an industry get over-leveraged, I suppose. Look for whatever sector has the most cronies of Michael Milken: thta would be a good guess.
I've heard from multiple sources that the stock market is due for a major retraction this year because its been artificially propped up by the FED's QE. Your thoughts? It is true that the Fed is propping it up, but they are not going to stop. They cannot stop lest we slide back into a deeper recession/depression.
However, eventually reality has a way of happening.
Remember, we used to refer to "The Great War" before we learned enough to start numbering them. The same will be true someday of "The Great Depression".
What do you think of the issues cryptocurrencies have been having in terms of security (Mt Gox "break-in", Flexcoin, etc all)? Will people ever be able to overcome their bias of Bitcoin or will it need to rebrand as a more secure currency or more user friendly to gain wider acceptance? So did Target.
It won't "rebrand" deliberately because there is no owner. It will morph and evolve to be better and better. I suspect that as other currencies develop traction, Bitcoin will harvest their better attributes and make them its own. However, switching costs are not too high... Other currencies may fare well.
I admire your position and fight for school vouchers, now that charter schools have become more common, do you feel that charter schools can replace the need for school vouchers? Charter schools are less controversial but not as readily available due to the lottery system. 1) Backpack funding (e.g., Oakland) - Send your kid to any public school in the district that you want, and the funds travel with him (in his "backpack" so to speak). Something like Henry Ford saying, "You can buy a Model T in any color you want as long as it's black." But it's a start.
2) Charter schools - As you say, these have momentum.
3) Vouchers (or their economic equivalent, tuition tax credits). These create the most freedom of all the methods.
Thanks for doing this Mr. Byrne. I was curious if overstock held a small % of the btc from purchases or is it all automatically sold on the market? 10%.
Sorry if this has been mentioned already but how would you suggest the community as a whole informs the general public about bitcoin? Obviously mainstream media isnt doing a great job since their main focus are the negative stories relating to bitcoin since thats what sells. Like Ho Chi Minh, make it a war of the ants against the elephants.
My company's CEO thinks there are more important things to take care of rather than bitcoin payments. What would you say to him? Beat the rush.
Hi Patrick! I'd just like to say it's great working here at Overstock. Would you rather fight 100 duck-sized horses or 1 horse-sized duck? Having been nibbled to death by a duck, I would rather fight the horses of whatever size.
What do you like about Utah and what do you do for fun here? What do you like about Utah and what do you do for fun here? BUILD OVERSTOCK.
Any chance the Ostk benefits would include more than the Snowbird pass discount? Maybe more resorts discounts benefits? Any chance the Ostk benefits would include more than the Snowbird pass discount? Maybe more resorts discounts benefits? NO. WOULD RATHER JUST PAY THE CASH.
I'm sorry that you contracted cancer numerous times, do you have any ideas about what caused it? Also, Bitcoin :-} Nope. Just lucky I guess.
What was the last thing you bought from A book about Camille Claudel, I think.
What the fuck was the deal with Snoop? Stormy just wanted to meet the guy, so you waste MILLIONS on an ill-fated promotion that is so at odds with your brand? You mean this? Link to
Note our appearance in his video: Link to
It has 2.5 million hits. Seems to have struck a chord for some.
What are you, racialist?
"three time cancer survivor" Did you grow up under power lines? Or did you just like the way lead-based paint tasted? Some guys just get lucky.
Related note: Seriously, no one is out to get you! Quit moving your damn office every three months! 3) I move my office because we are a flexible, agile environment. Sounds like that was something you could not grasp during your tenure here.
Do you know who's behind the Satoshi twitter account? No.
I work over at castle and I challenge you to a game of ping pong. You're on.
My paycheck against yours?
(Joke: I don't get paychecks, I believe.)
Truly. The beautiful thing about bitcoin is that we can all be a small part of this change. The peer to peer aspect makes it truly pro-freedom. True dat.
Thank you for accepting bitcoin Patrick. I've made several purchases on Overstock instead of Amazon because of it. Thanks. Spread the word! We took a chance by taking it. Help make it pay off by getting more people to think like you.
(Notice Amazon recently dissed Bitcoin? They do not want to appear as Me-too'ers.)
Hello Mr. Byrne, I became a strong believer in several ways. 1) As a grad student at Stanford I studied computation thory, which underlies public key encryption, and so when cryptocurrencies came along it was not as magical-sounding to me as it might have been. 2) I am a proponent of the Austrian School of Economics, which, in general, eschews fiat currency in favor of a gold standard. The goal is not really the gold standard, however: the goal is to have a form of money that is intrinsically limited. Bitcoin et. al. accomplishes that. In addition, cryptocurrencies are SpaceCash (a word I think I just made up) that can be beamed across the galaxy! (Henceforth in my answers I will use "SpaceCash" top refer to all cryptocurrencies.)
Clearly bitcoin and other cryptocurrencies have the potential to change how our world does money for the better. What made you such a strong believer in bitcoin, and how would you spread this knowledge to other CEOs like yourself.
It's my understanding that since uses a Coinbase to facilitate the transaction Overstock does not sit on any Bitcoin; just the cash after the fact. Correct. Acutally, I think we are accumulating 10% of what gets spent with us in Bitcoin, as Bitcoin.
Just want to say you sound like a really cool mega rich person. Thanks. If so, it helps that I was a really cool person before I became a rich guy.
Last updated: 2014-05-06 21:05 UTC
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submitted by tabledresser to tabled [link] [comments]

#crypto #cryptonews #bitcoin #Overstock CEO Patrick Byrne tweeted a documentary I made on him, Bitcoin and the Deep State. Check it out!

submitted by PooPoster1 to Cryptoandme [link] [comments]

Overstock CEO Goes All In On Bitcoin & Gold | SEC Chair No Bitcoin ETF Anytime Soon | GK8's New Tech Allows Transactions w/ Offline Wallets

Overstock CEO Goes All In On Bitcoin & Gold | SEC Chair No Bitcoin ETF Anytime Soon | GK8's New Tech Allows Transactions w/ Offline Wallets submitted by crypto_blood to CryptoCurrency [link] [comments]

Overstock CEO Goes All In On Bitcoin & Gold | SEC Chair No Bitcoin ETF Anytime Soon | New Tech Allows Funds To Move From Cold Wallets!

submitted by cryptoallbot to cryptoall [link] [comments]

Overstock CEO Goes All In On Bitcoin & Gold | SEC Chair No Bitcoin ETF Anytime Soon | New Tech Allows Funds To Move From Cold Wallets!

Overstock CEO Goes All In On Bitcoin & Gold | SEC Chair No Bitcoin ETF Anytime Soon | New Tech Allows Funds To Move From Cold Wallets! submitted by crypto_blood to Crypto_Currency_News [link] [comments]

Don't Worry, Overstock's New CEO Is Already 'Drunk on Bitcoin's Kool-Aid'

Don't Worry, Overstock's New CEO Is Already 'Drunk on Bitcoin's Kool-Aid' submitted by Tukimoki to CryptoNewsandTalk [link] [comments]

Don’t Worry, Overstock’s New CEO Is Already ‘Drunk on Bitcoin’s Kool-Aid’

Don’t Worry, Overstock’s New CEO Is Already ‘Drunk on Bitcoin’s Kool-Aid’
News by Coindesk: Nikhilesh De
Digital retail platform’s new CEO is not planning any major changes to the company’s blockchain efforts after the departure of its founder.
Patrick Byrne, the now-former CEO of Overstock, made headlines Thursday after announcing his resignation as both the head of his company and a member of its board. He wrote in a letter to shareholders that he did not want to “disrupt possible strategic discussions” by remaining in his positions following his admission that he had a three-year relationship with Russian spy Maria Butina (at, according to Byrne, the FBI’s behest).
Over the past several years, Byrne has championed blockchain tools and projects, overseeing the growth of Medici Ventures, Overstock’s blockchain-focused subsidiary, and tZERO, the security token trading platform.
These projects will continue, said Jonathan Johnson, who was named interim CEO upon Byrne’s resignation.
“The fact that I am stepping into the CEO role means more of the same and more of the same focus for our blockchain business,” he said.
He told CoinDesk that he’s “all in” on Overstock’s blockchain efforts, noting that he had been running the day-to-day operations at Medici over the past three years and has even accepted his bonus in bitcoin in the past.
Johnson will retain his previous position as president of Medici concurrently with his new duties as interim Overstock CEO.
“I wasn’t just doing it for a paycheck, I’m doing it because I’m a full-on believer,” he said, adding:
“Not only have I drunk the Kool-Aid, I’m drunk on the Kool-Aid.”
As such, he does not expect much of Overstock, Medici or tZERO’s operations to change with his assuming command of the company.
“This isn’t an example of the board [of directors] saying, ‘We need a new CEO because the vision’s wrong,’” he said.
Specifically, Medici Ventures will continue to grow its portfolio, albeit more slowly than it has over the past three years.
Johnson said during Overstock’s Q2 earnings call earlier this month that the company would be less aggressive about growing its keiretsu (a Japanese term for a group of interlocking businesses), a statement he echoed Friday.
“We’re not stopping building out the keiretsu,” he said, adding that the company intends in particular to “flesh out the identity column.”
However, he noted, “In the last three years we’ve gone from four to 18,” and this rate would slow.

Moving forward

While Johnson does not have any specific plans at this stage for where to take Overstock, he expressed support for the various blockchain projects and hinted that the digital retail platform may begin accepting additional cryptocurrencies as payment methods (Overstock has accepted bitcoin since 2014).
“I would love to see Overstock accepting ravencoin, I just think that would be great. My view is any kind of widely accepted cryptocurrency, Overstock should be accepting,” Johnson said.
He did not speak to when Overstock may begin accepting other cryptocurrencies, noting he was “less than 24 hours into this.”
As for Overstock’s blockchain-focused subsidiaries, Johnson said they too will continue.
“I’m fully behind what we’re doing at tZERO, I’m chairman of the board,” he said.
Since its launch, tZERO has seen a limited amount of trading volume. The company opened the platformto non-accredited investors on Aug. 12, which likewise has not yet resulted in any massive growth.
Asked about what sort of timeline he was looking at before reassessing tZERO, Johnson said:
“I think the question is, once tZERO has five or 10 quality tokens trading on the exchange, ‘What has that done to the overall liquidity on the exchange?’ I think it’s about bringing in quality tokens not [putting it on a timeline].”
He also pointed to Voatz and Bitt as examples of two other portfolio companies Medici will continue to support.
“Someday in the not too distant future everyone’s voting on mobile phones on a blockchain app and we’ll wonder ‘How did we do it the old way?’”he said of Voatz in particular.
Overstock will hold an investor call on Aug. 26 at 8:30 a.m. EDT, where Johnson will seek to reassure shareholders.
“[The crypto community] should not see it as a seismic tremor, they should just see it as a passing of the baton,” he said.
Johnathan Johnson image via Nasdaq
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Don’t Worry, Overstock’s New CEO Is Already ‘Drunk on Bitcoin’s Kool-Aid’

Don’t Worry, Overstock’s New CEO Is Already ‘Drunk on Bitcoin’s Kool-Aid’ submitted by a36 to AllThingsCrypto [link] [comments]

Don’t Worry, Overstock’s New CEO Is Already ‘Drunk on Bitcoin’s Kool-Aid’

Don’t Worry, Overstock’s New CEO Is Already ‘Drunk on Bitcoin’s Kool-Aid’ submitted by guo1241 to Bitcoin_Future [link] [comments]

Don’t Worry, Overstock’s New CEO Is Already ‘Drunk on Bitcoin’s Kool-Aid’

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Overstock Goes ‘All In’ on Bitcoin, Stock Climbs 300% In 2017

Overstock Goes ‘All In’ on Bitcoin, Stock Climbs 300% In 2017 submitted by AliBongo88 to Bitcoin [link] [comments]

Ravencoin Multimillion Investment Revealed: Overstock CEO and bitcoin pioneer explains his long-standing crypto play and his philosophy on life

Byrne:Well I'm not really interested in cryptocurrencies per se. Although in general, I guess there's nothing wrong with me saying there is an open-source project of which I'm really letting something big out of the bag here. I'll tell you. But there's an open-sourceproject called Ravencoin, which Overstock has put millions of dollars into teams. We have people contributing to this open-source project. We think this coin actually has quite a future. It's about - it's bitcoin, but a thousand times more energy efficient. And there's other real interesting virtues to it - so Ravencoin. But other than that , I stay out of the cryptocurrency game. I'm building the - we're focusing on applications of this technology and not just betting on coins themselves.
Silverstein:And is that the primary purpose of Ravencoin is to be a more energy efficient version of some of these other cryptocurrencies?
Byrne:That's - I'd say that's the first feature it brings to the world. What I hear - from the open-source community and on the message boards - I know what they are working on and it seems - it's really quite a - I think it has - it was launched January 3 and it's as this open-source project . And I think it has more - last I heard - the number of miners who are now working on it - or it has spread faster than any number of miners of any coin introduced. It's really quite a phenomenon this Ravencoin. So - and what's nice it's democratized. Yeah, it - what happens is, you know, all these coins like bitcoin and such are built on - there's a processor that's solving mathematical problems. And it's possible to build chips that specialize in just that problem. And so you really can't - with your home computer, you're not going to mine any bitcoin anymore unless you have this dedicated ASIC chip. Well, Ravencoin was designed, so you can't do that - it's ASIC resistant. And that's because the problem that you solve keeps flipping randomly among a bunch of class of problems. Anyway, you can't solve it efficiently with an ASIC's chip, which means it redemocratizes mining. Anyone can download this software, and you don't have an advantage by having this big mining warehouse in China.
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Bitcoin Fueling Up! Overstock (OSTK) Theories, CME Futures, Hold + Trading Strategies - CMTV Ep107 INTERVIEW WITH OVERSTOCK CEO: BITCOIN IS MORE POWERFUL THAN PHYSICAL MONEY A Blockchain Future with Overstock CEO Jonathan Johnson The $100,000 Bitcoin, Overstock Loves Crypto And Rise Of Bitcoin Fees - 036 Overstock CEO And Bitcoin Pioneer Explains His Long-Standing Crypto Play And His Philosophy On Life

Overstock’s blockchain arm tZERO lays off staff, cuts salaries; Ethereum, Stellar, Dogecoin Price Analysis: 29 July; Why Blockchain Exchanges Are Now Using Traditional Exchange Technology; Ethereum Turns 5 But ETH Price Vs. Bitcoin Never Recovered Since 2018; Monex’s US Subsidiary TradeStation to Launch Crypto Lending Service Online retailer Overstock has said it hopes to sell its e-commerce business by February in order to focus on blockchain. The clock is ticking. CEO Patrick Byrne explains the strategy. A Correlation Between Overstock’s Stock And The Bitcoin Price. There is a very strange “coincidence” happening at the market right now. If you watch closely the Bitcoin price and the (OSTK) stocks at the moment, you can notice that both of them seem to be following the same pattern.. It may look surprising that a public stock would be tracking the Bitcoin price, but that is Bitcoin is a digital currency that allows quick and secure online payments. We partnered with Coinbase, a Bitcoin platform, to enable Bitcoin as a form of payment on Coinbase is a Bitcoin wallet that allows consumers to buy, sell, send, and receive Bitcoins. Wondering where you can spend your bitcoin? now accepts bitcoins. Shop for our bestselling cameras, coffee makers, monitors, mattresses, and more.

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Bitcoin Fueling Up! Overstock (OSTK) Theories, CME Futures, Hold + Trading Strategies - CMTV Ep107

The premium version of this episode also includes why he first decided to open to accept Bitcoin, his views on the future of bitcoin, and what it was like being the most hated man in ... SUBSCRIBE ! for videos on finance, making money, how to invest and creative ways to acquire passive income ! After 10+ years of investing and saving, I'm here to pass the knowledge onto you ! Ways ... Bitcoin Fueling Up! Overstock (OSTK) Theories, CME Futures, Hold + Trading Strategies - CMTV Ep107 Coin Mastery. ... We'll also discuss LTC's bounce, Overstock's future plans, CME Future contract ... Bitcoin focus could be in future of - Duration: 7:13. Fox Business 1,454 views. 7:13. Gerald Celente on the Relationship Between Bitcoin and Bullion ... Sara Silverstein: So has been accepting bitcoin for as long as I can remember anyone has. Patrick Byrne: We were the first. We were the first — there was a — the largest company ...

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