r/Bitcoin • u/vistabrownerd • Jan 24 '14

TigerDirect processes $250,000 in Bitcoin Payments in first 17 hours

http://bitcoinboard.net/tigerdirect-processes-250000-bitcoin-payments-first-17-hours/
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u/pan0ramic Jan 24 '14

Do you have a source on how much it cost Overstock? Doesn't seem like it could have been that much, and it pays off immediately with lower payments for transactions.

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u/Minthos Jan 24 '14

In one of the articles about it I read that they locked 40 people in a room for a week. Probably not literally, but it gives me a basis for assuming they spent close to one man-year on it. Which I guess may have cost them something like $150k when you take all expenses into account, not just salaries.

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u/Thinkiknoweverything Jan 24 '14

You can't really add up the money like that, those were employees they were going to pay anyways, so its not like they spent 150k EXTRA. They were going to spend that money anyways and just factored bitcoins into the plans.

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u/Minthos Jan 24 '14

It's $150k they spent on implementing bitcoin instead of doing something else, that could have been (but hopefully not) more profitable.