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Overstock is just one merchant, one data point. Not enough to draw a conclusion. On the other hand, BitPay represents 30k merchants.

And they did not stop releasing numbers. They recently announced processing $1 million every single day. This is 3.3x their daily average of 2013. Source: http://www.pfhub.com/bitpay-processing-1-million-per-day-ove...




Your source is a link to a story which sources some random bitcoin news blog which sources...nothing but their own claim that they were told that. Every other news source references it or doesn't give a source for the claim. This is common in bitcoin reporting. One blog makes something up, misunderstands something, or makes a mistake and the rest report it as fact.


This milestone ($1M/day) was widely disseminated in a business wire 2 weeks before the newsbtc.com blog post: http://finance.yahoo.com/news/bitcoin-payments-pioneer-bitpa...

Notice how it is burried in the announcement of the $30M funding round. This is probably why the fact was not picked up by more people.


I'll believe it when I see numbers for multiple days over multiple months. Both bitpay and coinbase have been caught in the past using spikes and holiday volume to make their overall volume look much higher than it is.


BitPay processed $5k/day in May 2012 [3], $18k/day in Sep 2012 [3], $160k/day in March 2013 [1], $300k/day average through 2013 [2], and now $1.0M/day [4].

BitPay had 1k merchants in Sep 2012 [3], 10k by Sep 2013 [5], 30k by May 2014 [6].

BitPay raised $2M in May 2013 [7], and $30M in May 2014 [4].

They had a single office in Atlanta in 2012, now they have 8000 sq ft in Atlanta [8], plus offices in Amsterdam, San Francisco, New York City.

BitPay had 7 employees in April 2013 [9], and 40 by May 2014 [8], and plans to have 100 by end of 2014 [8].

You can bury your head in the sand as much as you want, but their growth is obvious... Have you been to any Bitcoin conference? The number of new startups, flury of projects, funding rounds, etc, is mind-boggling. You belong to the super-minority who believes that "Bitcoin is seeing no consumer growth" (!)

[1] http://www.maxkeiser.com/2013/04/bitpay-processes-5-million-...

[2] http://www.paymentssource.com/news/the-companies-signing-up-...

[3] http://bitcoinmagazine.com/2298/bitpay-exceeds-1000-merchant...

[4] http://finance.yahoo.com/news/bitcoin-payments-pioneer-bitpa...

[5] http://paymentweek.com/bitpay-reaches-10k-merchants-mileston...

[6] http://blog.bitpay.com/2014/05/04/merchant-spotlight-sendowl...

[7] http://bitcoinmagazine.com/4626/bitpay-raises-2-million-led-...

[8] http://blog.bitpay.com/2014/05/21/bitpay-s-office-grand-open...

[9] http://blog.bitpay.com/2013/04/22/bitpay-expands-staff-to-se...




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