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Topic: 124000 USD from bitcoins order from Overstock.com - page 4. (Read 4578 times)

legendary
Activity: 1246
Merit: 1000
103 days, 21 hours and 10 minutes.
This number doesn't really have that much significance. Obviously every bitcoin user is going to rush and make an order the first day to test out the system (or inflate the numbers). But what does it say about sales over a whole year? Or how many new users it'll attract?

It's 100k more than they had the day prior.

Even if it only generates 50k for the remaining months (Only figuring USA )

That's 700k

Good for them
full member
Activity: 198
Merit: 100
This number doesn't really have that much significance. Obviously every bitcoin user is going to rush and make an order the first day to test out the system (or inflate the numbers). But what does it say about sales over a whole year? Or how many new users it'll attract?

??
No one has made that claim.
It's initial sales data from right after they started accepting a niche new payment system with lots of fanboys. I think most people realize that $124,000 in 21 hours says little about long-term effect.
But Amagi Metals isn't complaining and they've been accepting for over a year IIRC. There isn't exactly a slew of companies CANCELLING their bitpay accounts so I think that says enough to satisfy your concerns ;-) No one's forcing them to do it so a reasonable assumption is that it remains profitable.

I made that claim and for some reason my post got deleted. ? ?

I basically said other retailers will jump on the bitcoin bandwagon seeing that overstock had a profit increase as a result of it. TERA was responding to my statement.
hero member
Activity: 644
Merit: 500
One Token to Move Anything Anywhere
This number doesn't really have that much significance. Obviously every bitcoin user is going to rush and make an order the first day to test out the system (or inflate the numbers). But what does it say about sales over a whole year? Or how many new users it'll attract?

Oh ye of little faith!  Wink

It's simply a question of jumping in and supporting the initiative.

We're only at 10 Jan 2014 - not even one full business week out of the holidays. The business world is like a vast unexplored playground for Bitcoin - almost inconceivably large and diverse compared to where we are at this moment. The US government is giving its stamp of approval for Bitcoin to run out and play right now! With all the start ups kicking off and anyone who wants to jump in and start a Bitcoin business able to do so without the restrictions they would have to navigate if the software wasn't open-source, things are poised to go very viral...
legendary
Activity: 1120
Merit: 1012
Amagi Metals

Another company that I would have normally never considered, yet became a customer of simply because they began accepting Bitcoin payments.
legendary
Activity: 1120
Merit: 1012
This number doesn't really have that much significance. Obviously every bitcoin user is going to rush and make an order the first day to test out the system (or inflate the numbers). But what does it say about sales over a whole year? Or how many new users it'll attract?

When your margins are as low as they need to be in order to compete in this market, adding something like an option for Bitcoin payments, which is paid for by the customer during checkout (processor fee), is a no-brainer.

I do not have an account at overstock. I never planned on having an account at overstock, nor did I plan on ever making a purchase on overstock. Yet, I am now a potential new customer thanks to the fact that they've added an option for Bitcoin payments.

You can argue that attracting bitcoiners is like tossing a pebble into the sea, but when there is no drawback in doing so, it only makes sense. You might consider how quickly the bitcoin user base is growing as well. These are long term plans.
sr. member
Activity: 448
Merit: 250
This number doesn't really have that much significance. Obviously every bitcoin user is going to rush and make an order the first day to test out the system (or inflate the numbers). But what does it say about sales over a whole year? Or how many new users it'll attract?

??
No one has made that claim.
It's initial sales data from right after they started accepting a niche new payment system with lots of fanboys. I think most people realize that $124,000 in 21 hours says little about long-term effect.
But Amagi Metals isn't complaining and they've been accepting for over a year IIRC. There isn't exactly a slew of companies CANCELLING their bitpay accounts so I think that says enough to satisfy your concerns ;-) No one's forcing them to do it so a reasonable assumption is that it remains profitable.
hero member
Activity: 728
Merit: 500
This number doesn't really have that much significance. Obviously every bitcoin user is going to rush and make an order the first day to test out the system (or inflate the numbers). But what does it say about sales over a whole year? Or how many new users it'll attract?
legendary
Activity: 1904
Merit: 1038
Trusted Bitcoiner

Very well done to all those who went there to spend.

Keep up the good work America.

As soon as they deliver to Europe I'll dive in the game myself!

If you have the time post something, specs, photos, anything, about what you bought please do so at: https://bitcointalk.org/index.php?topic=407448.40

yup I be doing some shopping there too when they go international
hero member
Activity: 644
Merit: 500
One Token to Move Anything Anywhere

Very well done to all those who went there to spend.

Keep up the good work America.

As soon as they deliver to Europe I'll dive in the game myself!

If you have the time post something, specs, photos, anything, about what you bought please do so at: https://bitcointalk.org/index.php?topic=407448.40
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