Friday, January 10, 2014

Overstock 1st major online retailer to take Bitcoin

Bitcoin wins the heart of libertarian CEO | City A.M. - Guy Bentley:

January 10, 2014 - "Encouraged by positive Senate hearings in November and enthusiastic Bitcoin processors, online retailer Overstock.com has decided to take the plunge and accept the cryptocurrency. In the first 90 minutes of Bitcoin sales, the site received around 150 orders....

"The libertarian chief executive of Overstock.com, Patrick Byrne, said in a press release:
This is historic. Digital currency will be an important part of the future and Overstock is excited to be the first major online shopping retailer to accept it.

As one who believes in limited government, this attracts me because it is a form of money that no government mandarin can will it into existence.
"While the use of Bitcoin can lower Overstock's transaction costs, there is more than just business behind Byrne's decision to accept the digital currency. Speaking to Wired magazine he said 'It helps us fight the machine'.”

Read more: http://www.cityam.com/blog/1389367222/bitcoin-wins-heart-libertarian-ceo
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