Overstock.com and ShapeShift have now partnered to accept more than 60 cryptocurrencies as payment at its online stores.
I saw this news break yesterday and was just too tired to do anything with it then but holy cow, this is big news.
--
The online retail giant started accepting Crypto in 2014! They have remained tied to the blockchain movement ever since and have a dedicated arm of the company working to that end.
Overstock CEO Patrick Byrne:
Byrne said:
"Overstock is pro-freedom, including the freedom of individuals to communicate information about value and scarcity without relying on a medium created through the fiat of unaccountable government mandarins."
How awesome is this statement from a major CEO about Liberty and the sham that is government????
Patrick on Twitter: https://twitter.com/OverstockCEO
Overstock on Twitter: https://twitter.com/Overstock
Customers can now use bitcoin / dash / bitcoin cash / ether / litecoin and a lot more, at checkout, as the early adopter to crypto payments for retailer continues its march to liberty and helping customers.
From a NASDAQ.com article August 8th:
First major retailer to accept bitcoin continues to lead the way in adoption of cryptocurrency payments
SALT LAKE CITY, Aug. 08, 2017 (GLOBE NEWSWIRE) --
Overstock.com, Inc. (NASDAQ:OSTK) announces an integration with ShapeShift, the world's leading instant digital asset exchange, that allows customers to use all the major cryptocurrencies, including Ethereum, Litecoin, Dash, Monero, and the new Bitcoin Cash, to buy online from Overstock's selection of nearly 4 million products, including, furniture, accessories, bedding, décor, rugs, DIY, and more.
--
"Overstock is pro-freedom, including the freedom of individuals to communicate information about value and scarcity without relying on a medium created through the fiat of unaccountable government mandarins. For that reason, we have been an early proponent and adopter of cryptocurrencies," said company CEO and founder Patrick M. Byrne. "ShapeShift has provided an elegant way for users of any digital currency to transact seamlessly and privately across chains, and we're excited to harness that ability to the benefit of our customers."
"Overstock's long history with bitcoin and blockchain technology demonstrates their commitment to innovation," said ShapeShift CEO Erik Voorhees. "The ShapeShift team could not be more excited for this partnership and are pleased our technology will be helping the next generation of Overstock customers."
I also referenced this CoinDesk article today for some of the backstory. (Source below)
Jonathan Johnson is the chairman of the board of Overstock and the president of Medici Ventures, the Overstock subsidiary focused on advancing blockchain technology in financial systems and beyond.
I went to learn more about him, look at this picture of him I found and look at where he is speaking!
He is a political figure as well in the Utah area. I may blog more on that another day.
-- He was a candidate for the Republican nomination in the 2016 Utah gubernatorial election.
I pulled this following info from CoinDesk's "Bitcoin Milestones" series, from months ago where Johnson discusses his involvement in Overstock's decision to become the first major US merchant to accept bitcoin along with the influences that led it to kickstart the huge retail industry involvement with cryptocurrency.
At this time, I was the president of Overstock and, I sheepishly admit, it was the first I'd heard of bitcoin. I began studying bitcoin and watching how it was used. Unbeknownst to me, my business partner, Overstock CEO Patrick Byrne, was doing exactly the same.
As bitcoin interest and adoption grew, we saw technological, capitalistic and philosophic reasons to offer our customers a secure, decentralized, immutable way to buy products. In December 2013, wanting to make it possible for bitcoin users to purchase products from us, we included our senior management team in the discussion.
--
Straight away, we formed a team that began work the week between Christmas and New Year's.
Wanting to be undistracted and uninterrupted, the team locked themselves in a room (and asked that pizza be slid under the door) so they could work on integrating the technology into our website.
(At Overstock, we often create special project teams and give them their own "war room" so they can focus on the project.) This was just such a case.
The team was singularly focused on the project over the holidays. They were bitcoin believers and it showed in their dedication to the project.
After just two weeks of hard work, on 9th January, 2014, Overstock became the first major retailer to accept bitcoin.
--
The buzz among the bitcoin community was huge. The press was quick to tout our pioneering action. Bitcoin holders came to Overstock in droves to purchase products.
In the following weeks and months, Patrick and I were asked to speak about bitcoin and why Overstock decided to accept the cryptocurrency.
While the decision to accept bitcoin seems like an easy and smart one, in retrospect, there were a number of factors that led our team to conclude an alternative currency was a good fit for Overstock.
Overstock is a technology company at its core. We built our brand around leveraging technologies to provide our customers with the best possible shopping experience. Because of this, we constantly experiment with new technologies across a variety of applications.
Bitcoin was no exception. As we began to better understand bitcoin’s underlying technology – the blockchain – it was clear the decentralized and distributed infrastructure allowed for almost no possibility of exploitation. That, when combined with the immutable nature of the ledger, provided a level of security and transparency never before seen in a currency.
--
When we began accepting bitcoin, we accessed a new demographic of customers with plenty of bitcoin to spend, but few places to spend it.
The bitcoin community is a loyal and engaged one, and we believed they would return Overstock's faith in the currency with continued patronage. We were right.
Fiscally, the decision made a great deal of sense, too. We eliminated credit card transaction costs on bitcoin purchases, thus increasing our profit within the tight margins of e-commerce.
Bitcoin still combines the convenience, transparency and security of an online-based payment method with the virtues of a currency that has a finite supply of infinitely divisible units and predictable growth patterns. This duality supports our belief that a limited government, without the power to create currency at will for self-sustaining purposes, is the best business model for any nation.
--
While you might not hear much about its retail use cases anymore, Overstock still accepts bitcoin.
The digital currency's non-governmental nature still allows for easy global adoption, leading to efficient trade between individuals and companies without the cumbersome currency exchange processes and costs.
Just as the internet allowed the world the freedom to communicate across borders and cultures, bitcoin and other non-governmental cryptocurrencies allow the world the freedom to trade goods in much the same way.
Other retailers and industries soon followed our lead and the public began to see bitcoin less as a fringe idea.....
Sources:
https://www.coindesk.com/ether-litecoin-overstock-now-accepts-cryptocurrencies-payment/
https://www.coindesk.com/into-the-war-room-overstock-looks-back-on-bitcoin-embrace/
Thanks for reading, have a nice day.
If you liked this blog post - please Resteem it and share good content with others!
--
Some of my recent blogs:
--
Most Stock Images / Gif's day to day unless noted: via Giphy.com , Funny or Die.com / Pixabay. Today: Bitcoin Explained, a-dc.org, YouTube
If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
Bitcoin (BTC) - 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Expanse (EXP) - 0x819b9cce8630ab638198eabfd7496786c20d629a
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
Synereo (AMP) - 1KnrL6wFHaT4gjJ2YJ5f6WmKTDJNsaBS8s
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
Overstock.com and ShapeShift have now partnered to accept more than 60 cryptocurrencies as payment at its online stores.
I saw this news break yesterday and was just too tired to do anything with it then but holy cow, this is big news.
--
The online retail giant started accepting Crypto in 2014! They have remained tied to the blockchain movement ever since and have a dedicated arm of the company working to that end.
Overstock CEO Patrick Byrne:
Byrne said:
"Overstock is pro-freedom, including the freedom of individuals to communicate information about value and scarcity without relying on a medium created through the fiat of unaccountable government mandarins."
How awesome is this statement from a major CEO about Liberty and the sham that is government????
Patrick on Twitter: https://twitter.com/OverstockCEO
Overstock on Twitter: https://twitter.com/Overstock
Customers can now use bitcoin / dash / bitcoin cash / ether / litecoin and a lot more, at checkout, as the early adopter to crypto payments for retailer continues its march to liberty and helping customers.
From a NASDAQ.com article August 8th:
First major retailer to accept bitcoin continues to lead the way in adoption of cryptocurrency payments
SALT LAKE CITY, Aug. 08, 2017 (GLOBE NEWSWIRE) --
Overstock.com, Inc. (NASDAQ:OSTK) announces an integration with ShapeShift, the world's leading instant digital asset exchange, that allows customers to use all the major cryptocurrencies, including Ethereum, Litecoin, Dash, Monero, and the new Bitcoin Cash, to buy online from Overstock's selection of nearly 4 million products, including, furniture, accessories, bedding, décor, rugs, DIY, and more.
--
"Overstock is pro-freedom, including the freedom of individuals to communicate information about value and scarcity without relying on a medium created through the fiat of unaccountable government mandarins. For that reason, we have been an early proponent and adopter of cryptocurrencies," said company CEO and founder Patrick M. Byrne. "ShapeShift has provided an elegant way for users of any digital currency to transact seamlessly and privately across chains, and we're excited to harness that ability to the benefit of our customers."
"Overstock's long history with bitcoin and blockchain technology demonstrates their commitment to innovation," said ShapeShift CEO Erik Voorhees. "The ShapeShift team could not be more excited for this partnership and are pleased our technology will be helping the next generation of Overstock customers."
I also referenced this CoinDesk article today for some of the backstory. (Source below)
Jonathan Johnson is the chairman of the board of Overstock and the president of Medici Ventures, the Overstock subsidiary focused on advancing blockchain technology in financial systems and beyond.
I went to learn more about him, look at this picture of him I found and look at where he is speaking!
He is a political figure as well in the Utah area. I may blog more on that another day.
-- He was a candidate for the Republican nomination in the 2016 Utah gubernatorial election.
I pulled this following info from CoinDesk's "Bitcoin Milestones" series, from months ago where Johnson discusses his involvement in Overstock's decision to become the first major US merchant to accept bitcoin along with the influences that led it to kickstart the huge retail industry involvement with cryptocurrency.
At this time, I was the president of Overstock and, I sheepishly admit, it was the first I'd heard of bitcoin. I began studying bitcoin and watching how it was used. Unbeknownst to me, my business partner, Overstock CEO Patrick Byrne, was doing exactly the same.
As bitcoin interest and adoption grew, we saw technological, capitalistic and philosophic reasons to offer our customers a secure, decentralized, immutable way to buy products. In December 2013, wanting to make it possible for bitcoin users to purchase products from us, we included our senior management team in the discussion.
--
Straight away, we formed a team that began work the week between Christmas and New Year's.
Wanting to be undistracted and uninterrupted, the team locked themselves in a room (and asked that pizza be slid under the door) so they could work on integrating the technology into our website.
(At Overstock, we often create special project teams and give them their own "war room" so they can focus on the project.) This was just such a case.
The team was singularly focused on the project over the holidays. They were bitcoin believers and it showed in their dedication to the project.
After just two weeks of hard work, on 9th January, 2014, Overstock became the first major retailer to accept bitcoin.
--
The buzz among the bitcoin community was huge. The press was quick to tout our pioneering action. Bitcoin holders came to Overstock in droves to purchase products.
In the following weeks and months, Patrick and I were asked to speak about bitcoin and why Overstock decided to accept the cryptocurrency.
While the decision to accept bitcoin seems like an easy and smart one, in retrospect, there were a number of factors that led our team to conclude an alternative currency was a good fit for Overstock.
Overstock is a technology company at its core. We built our brand around leveraging technologies to provide our customers with the best possible shopping experience. Because of this, we constantly experiment with new technologies across a variety of applications.
Bitcoin was no exception. As we began to better understand bitcoin’s underlying technology – the blockchain – it was clear the decentralized and distributed infrastructure allowed for almost no possibility of exploitation. That, when combined with the immutable nature of the ledger, provided a level of security and transparency never before seen in a currency.
--
When we began accepting bitcoin, we accessed a new demographic of customers with plenty of bitcoin to spend, but few places to spend it.
The bitcoin community is a loyal and engaged one, and we believed they would return Overstock's faith in the currency with continued patronage. We were right.
Fiscally, the decision made a great deal of sense, too. We eliminated credit card transaction costs on bitcoin purchases, thus increasing our profit within the tight margins of e-commerce.
Bitcoin still combines the convenience, transparency and security of an online-based payment method with the virtues of a currency that has a finite supply of infinitely divisible units and predictable growth patterns. This duality supports our belief that a limited government, without the power to create currency at will for self-sustaining purposes, is the best business model for any nation.
--
While you might not hear much about its retail use cases anymore, Overstock still accepts bitcoin.
The digital currency's non-governmental nature still allows for easy global adoption, leading to efficient trade between individuals and companies without the cumbersome currency exchange processes and costs.
Just as the internet allowed the world the freedom to communicate across borders and cultures, bitcoin and other non-governmental cryptocurrencies allow the world the freedom to trade goods in much the same way.
Other retailers and industries soon followed our lead and the public began to see bitcoin less as a fringe idea.....
Sources:
https://www.coindesk.com/ether-litecoin-overstock-now-accepts-cryptocurrencies-payment/
https://www.coindesk.com/into-the-war-room-overstock-looks-back-on-bitcoin-embrace/
Thanks for reading, have a nice day.
If you liked this blog post - please Resteem it and share good content with others!
--
Some of my recent blogs:
--
Most Stock Images / Gif's day to day unless noted: via Giphy.com , Funny or Die.com / Pixabay. Today: Bitcoin Explained, a-dc.org, YouTube
If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
Bitcoin (BTC) - 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Expanse (EXP) - 0x819b9cce8630ab638198eabfd7496786c20d629a
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
Synereo (AMP) - 1KnrL6wFHaT4gjJ2YJ5f6WmKTDJNsaBS8s
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
--
The online retail giant started accepting Crypto in 2014! They have remained tied to the blockchain movement ever since and have a dedicated arm of the company working to that end.
Overstock CEO Patrick Byrne:
Byrne said:
"Overstock is pro-freedom, including the freedom of individuals to communicate information about value and scarcity without relying on a medium created through the fiat of unaccountable government mandarins."
How awesome is this statement from a major CEO about Liberty and the sham that is government????
Patrick on Twitter: https://twitter.com/OverstockCEO
Overstock on Twitter: https://twitter.com/Overstock
Customers can now use bitcoin / dash / bitcoin cash / ether / litecoin and a lot more, at checkout, as the early adopter to crypto payments for retailer continues its march to liberty and helping customers.
From a NASDAQ.com article August 8th:
First major retailer to accept bitcoin continues to lead the way in adoption of cryptocurrency payments
SALT LAKE CITY, Aug. 08, 2017 (GLOBE NEWSWIRE) --
Overstock.com, Inc. (NASDAQ:OSTK) announces an integration with ShapeShift, the world's leading instant digital asset exchange, that allows customers to use all the major cryptocurrencies, including Ethereum, Litecoin, Dash, Monero, and the new Bitcoin Cash, to buy online from Overstock's selection of nearly 4 million products, including, furniture, accessories, bedding, décor, rugs, DIY, and more.
--
"Overstock is pro-freedom, including the freedom of individuals to communicate information about value and scarcity without relying on a medium created through the fiat of unaccountable government mandarins. For that reason, we have been an early proponent and adopter of cryptocurrencies," said company CEO and founder Patrick M. Byrne. "ShapeShift has provided an elegant way for users of any digital currency to transact seamlessly and privately across chains, and we're excited to harness that ability to the benefit of our customers."
"Overstock's long history with bitcoin and blockchain technology demonstrates their commitment to innovation," said ShapeShift CEO Erik Voorhees. "The ShapeShift team could not be more excited for this partnership and are pleased our technology will be helping the next generation of Overstock customers."
I also referenced this CoinDesk article today for some of the backstory. (Source below)
Jonathan Johnson is the chairman of the board of Overstock and the president of Medici Ventures, the Overstock subsidiary focused on advancing blockchain technology in financial systems and beyond.
I went to learn more about him, look at this picture of him I found and look at where he is speaking!
He is a political figure as well in the Utah area. I may blog more on that another day.
-- He was a candidate for the Republican nomination in the 2016 Utah gubernatorial election.
I pulled this following info from CoinDesk's "Bitcoin Milestones" series, from months ago where Johnson discusses his involvement in Overstock's decision to become the first major US merchant to accept bitcoin along with the influences that led it to kickstart the huge retail industry involvement with cryptocurrency.
At this time, I was the president of Overstock and, I sheepishly admit, it was the first I'd heard of bitcoin. I began studying bitcoin and watching how it was used. Unbeknownst to me, my business partner, Overstock CEO Patrick Byrne, was doing exactly the same.
As bitcoin interest and adoption grew, we saw technological, capitalistic and philosophic reasons to offer our customers a secure, decentralized, immutable way to buy products. In December 2013, wanting to make it possible for bitcoin users to purchase products from us, we included our senior management team in the discussion.
--
Straight away, we formed a team that began work the week between Christmas and New Year's.
Wanting to be undistracted and uninterrupted, the team locked themselves in a room (and asked that pizza be slid under the door) so they could work on integrating the technology into our website.
(At Overstock, we often create special project teams and give them their own "war room" so they can focus on the project.) This was just such a case.
The team was singularly focused on the project over the holidays. They were bitcoin believers and it showed in their dedication to the project.
After just two weeks of hard work, on 9th January, 2014, Overstock became the first major retailer to accept bitcoin.
--
The buzz among the bitcoin community was huge. The press was quick to tout our pioneering action. Bitcoin holders came to Overstock in droves to purchase products.
In the following weeks and months, Patrick and I were asked to speak about bitcoin and why Overstock decided to accept the cryptocurrency.
While the decision to accept bitcoin seems like an easy and smart one, in retrospect, there were a number of factors that led our team to conclude an alternative currency was a good fit for Overstock.
Overstock is a technology company at its core. We built our brand around leveraging technologies to provide our customers with the best possible shopping experience. Because of this, we constantly experiment with new technologies across a variety of applications.
Bitcoin was no exception. As we began to better understand bitcoin’s underlying technology – the blockchain – it was clear the decentralized and distributed infrastructure allowed for almost no possibility of exploitation. That, when combined with the immutable nature of the ledger, provided a level of security and transparency never before seen in a currency.
--
When we began accepting bitcoin, we accessed a new demographic of customers with plenty of bitcoin to spend, but few places to spend it.
The bitcoin community is a loyal and engaged one, and we believed they would return Overstock's faith in the currency with continued patronage. We were right.
Fiscally, the decision made a great deal of sense, too. We eliminated credit card transaction costs on bitcoin purchases, thus increasing our profit within the tight margins of e-commerce.
Bitcoin still combines the convenience, transparency and security of an online-based payment method with the virtues of a currency that has a finite supply of infinitely divisible units and predictable growth patterns. This duality supports our belief that a limited government, without the power to create currency at will for self-sustaining purposes, is the best business model for any nation.
--
While you might not hear much about its retail use cases anymore, Overstock still accepts bitcoin.
The digital currency's non-governmental nature still allows for easy global adoption, leading to efficient trade between individuals and companies without the cumbersome currency exchange processes and costs.
Just as the internet allowed the world the freedom to communicate across borders and cultures, bitcoin and other non-governmental cryptocurrencies allow the world the freedom to trade goods in much the same way.
Other retailers and industries soon followed our lead and the public began to see bitcoin less as a fringe idea.....
Sources:
https://www.coindesk.com/ether-litecoin-overstock-now-accepts-cryptocurrencies-payment/
https://www.coindesk.com/into-the-war-room-overstock-looks-back-on-bitcoin-embrace/
Thanks for reading, have a nice day.
If you liked this blog post - please Resteem it and share good content with others!
--
Some of my recent blogs:
--
Most Stock Images / Gif's day to day unless noted: via Giphy.com , Funny or Die.com / Pixabay. Today: Bitcoin Explained, a-dc.org, YouTube
If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
Bitcoin (BTC) - 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Expanse (EXP) - 0x819b9cce8630ab638198eabfd7496786c20d629a
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
Synereo (AMP) - 1KnrL6wFHaT4gjJ2YJ5f6WmKTDJNsaBS8s
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
Bitcoin (BTC) - 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Expanse (EXP) - 0x819b9cce8630ab638198eabfd7496786c20d629a
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
Synereo (AMP) - 1KnrL6wFHaT4gjJ2YJ5f6WmKTDJNsaBS8s
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.