4 Interesting Crypto Takeaways from Patrick Byrne Overstock's CEO Interview on Bad Crypto Podcast
October 16, 2017
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7:43Now Playing4 Interesting Crypto Takeaways from Patrick Byrne Overstock's CEO Interview on Bad Crypto Podcast
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Here are the 4 takeaways from Patrick Byrne's interview with the guys(Travis & Joel) from the Bad Crypto Podcast.
1) .2% of transactions on Overstock.com are with Bitcoin, approximately 4 million dollars. They now accept dozens of Altcoins as well including LiteCoin
2) Overstock sells 50% of the Bitcoin and AltCoins they receive and hold the rest. - This happens immediately after the payments are received on the site. They were previously only selling 10% but decided to expand.
3) Overstock has a partnership with CoinBase. - Patrick advised that companies interested in accepting Crypto as a form of payment first need to partner with an exchange such as CoinBase or Bittrex
4) Patrick believes Crypto will gain mass adoption when fiat (US dollar) starts to collapse. “Somewhere between the Great Depression and Venezuela”
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