I'm Patrick Byrne, CEO of Overstock.com: Ask Me Anything!

[PatrickByrne]

Thanks for joining Patrick, I'm fascinated by your ideas. My question:

Not receiving my paycheck in Bitcoin is a barrier to me buying from Overstock with BTC. It's easier to keep BTC as savings in my case.

So: how do you approach the challenge of the average joe having a steady stream of bitcoin, and do you have any predictions re the industry or regulations which will help or hinder this? YOUR INSTINCTS ARE CORRECT: "LIQUIDITY BEGETS LIQUIDITY," AS THEY SAY ON WALL STREET. WE CAN DO OUR PART BY FINDING A WAY TO PAY PEOPLE, BOTH SUPPLIERS AND COLLEAGUES, PARTIALLY IN BITCOIN. SHOULD BE HAPPENING IN THE COMING YEAR.

Or, if you would reframe the question/problem differently, I'd love to hear that.

[searchfortruth]

What kind of reporting do you have to do for users who spend a lot of Bitcoin on overstock?

[JuddBagley]

What kind of reporting do you have to do for users who spend a lot of Bitcoin on overstock?

(This is Patrick's comms guy Judd Bagley stepping in while Patrick returns to company business.)

We have no reporting requirements for bitcoin purchases.

[notig]

Open bazaar is aimed to be a replacement of ebay. Is there a way that overstock can leverage open bazaar? As an example amazon currently hosts 3rd party sellers. Overstock might be able to tap into the reputation systems, or even the review systems that open bazaar could provide.

[JuddBagley]

Open bazaar is aimed to be a replacement of ebay. Is there a way that overstock can leverage open bazaar? As an example amazon currently hosts 3rd party sellers. Overstock might be able to tap into the reputation systems, or even the review systems that open bazaar could provide.

(This is Patrick's comms guy Judd Bagley stepping in while Patrick returns to company business.)

I'm looking at the site now and it's very interesting.

[LiteCoinGuy]

I guess iam too late but thanks Patrick for everything you have done for bitcoin!

[Joe]

A bit late on this one but here goes anyway:

Why are incumbent financial institutions against Bitcoin? Do you think the reason is political, fear of competition (it could pose a threat to their oligopolies) or something else?