1983 FBF: Doing Business with Bitcoin & Central Banks vs Crypto-Currencies with Patrick Byrne CEO & Chairman of Overstock.com

Today's Flashback Friday is from episode 372 published last April 14, 2014.

Patrick Byrne is the Chairman & CEO of Overstock.com. He joins the show to discuss why he made the decision to add Bitcoin as a payment form for Overstock.com. 

This interview is action-packed with Bitcoin content. Byrne explains how and when he first heard about Bitcoin and what his reaction was. He shares his thoughts on the currency nature of Bitcoin as well as the transaction part. 

Byrne himself doesn't own Bitcoin. He discusses why someone with all his connections wasn't one of the first buyers.

Byrne thinks the new cryptocurrency space will destroy central banking and give rise to a new kind of ecosystem.

Overstock.com reported more than $130K in Bitcoin sales in 24 hours, and more than $1 million in sales since they started accepting Bitcoin in January. Byrne thinks more retailers will follow suit.

 

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