If you’re looking for someone who pisses people off simply by speaking his mind; Overstock.com CEO Patrick Byrne is your person. Vetted “the most hated man on Wallstreet,” Byrne has a knack for keeping it real. I admire this approach to business and economics, and it clearly works. Byrne took Overstock.com from a company worth around $1 Million to an empire worth over $1 billion.
Ever heard of Deepcapture.com? This website, owned by Byrne, is the most widely popular website on corruption in the world. Perhaps that’s what led to Byrne becoming the subject of 6 Federal Investigations over 10 years, all which were dropped. My point? Byrne exposes things and ruffles feathers.
Patrick Byrnes is a supporter of Cryptocurrencies like Bitcoin, and spoke at #Bitcoin2014 on May, 16, 2014.
Bitcoin 2014 was kicked off by John Matonis, Executive Director of Bitcoin. Matonis showed a great video at the beginning, giving a little background to the intended purpose of Bitcoin. The movie interviewed a young man living in Uganda, attending school. His sister in Boston, Massachusetts sent money to him often, paying fees to send and having a majority of it eaten up in fees by the bank in Uganda once it arrived there. Uganda doesn’t have the same regulations for banks as we do in the United States, so financial institutions get away with charging outrageous fees.
With Bitcoin, her brother was sent the fees via FB and simply had to find someone in Uganda to trade them with (which he did easily), allowing him to retain a majority of the money sent. Overstock.com was one of the first companies to simplify the process even more, eliminating the whole need to trade by accepting Bitcoin as currency.
In his speech Byrne’s keynote, titled “500 years of liberalism” spoke about the decision to use Bitcoin as currency at Overstock.com, the amount of Bitcoin retained by Overstock.com once received, as well as the corruption of Bitcoin. As always, Byrnes viewpoint was compelling, and factual. I look forward to hearing him speak more in the future!
View the video here:
Be sure to follow Patrick Byrne on Twitter to stay up to date with his viewpoints!