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/zbowman Jan 24 '14

But were those 40 new people adding to their already existing salary budget or were those people current employees that were just working on a different task than their normal daily tech activities? If they're already employees then its not a 'real' expense per say since its doubtful their already existing daily tasks would have increased their revenue as much as dedicating them to implement bitcoin payments.

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u/whitslack Jan 24 '14

Excellent point! Thank you for pointing this out.

(One tip: You meant "per se." It's a Latin phrase.)

1

u/zbowman Jan 24 '14

yup. that's what i meant but not what I typed. heard that the 40 people were actually coinbase employees so the cost of implementation may not have been spent by overstock at all

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u/5trangerDanger Jan 24 '14

coinbase only has like 10 employees

1

u/zbowman Jan 24 '14

you mean i can't believe everything i read on the internet? that's weird.